Dogecoin bust

[tamada]

Reuters: Elon Musk sued for $258 billion over alleged Dogecoin pyramid scheme.
https://www.reuters.com/legal/transacti ... 022-06-16/

A bit specious IMHO. Anyone here reckon that Elon Musk is a smart financial advisor? I mean, if he is such a wiz, wouldn't he already be running the Fed?

[GT93]

Oh cool, a Musk bashing thread. It makes a pleasant change from the Windsors and Johnson.

[Kenr6583]

He’s a manipulator.

[stattointhailand]

What makes you think he's NOT running the fed?

[tamada]

What makes you think he's NOT running the fed?

You mean like Harry Corbett and Sooty & Sweep?

Just had a vision of Musk wrist deep in Janet Yellen's naughty bits.

Unsee... unsee...

[pepesgrill]

dodgy like dogecoin. that doesn't sound like a good name. who is good with crypto currency. it
seems like monopoly money. musk's good with it

[Kenr6583]

He’s gotten into trouble with the FCC before for this exact thing. He gets on social media and starts talking about Twitter, Tesla, Bitcoin, in order to manipulate the price. Hopefully this will catch up to him and he pays the price for it once again.

[pepesgrill]

fsec fed securities & exchange commission

tesla stock, once darling of wall st has dropped to
1/2 its value just a few yrs ago. yes, he consistently injects co. into deals & speculation that show he's not much concerned about public shares

[tamada]

fsec fed securities & exchange commission

tesla stock, once darling of wall st has dropped to
1/2 its value just a few yrs ago. yes, he consistently injects co. into deals & speculation that show he's not much concerned about public shares

Plus he's very much about not limiting free speech inasmuch as outrageous comments on Twitter shouldn't be proscribed.

https://www.theverge.com/2022/6/16/2317 ... moderation

[pepesgrill]

just dumped some spacex employees for voicing disapproval of social media antics. that seems
to get folks in hot water often. stay off twitter

[Kenr6583]

Yes, SEC, I need to watch what is being written when I use voice commands.

No, Musk doesn't care about manipulating the stock prices because while he is not paid a salary at Tesla, his compensation package allows him to buy Tesla stock at $70.01 per share. So he can manipulate it to make it rise when he wants to sell some stock, then not care the rest of the time. But what is so cool about it all is that while people here have a 22% tax rate on anything over $54,275 per year, he and individuals like him have a maximum tax rate of 20% for capital gains tax, no matter how may millions and billions of $ is involved. Doesn't seem right to me, but that's our tax code here.

What he is doing by manipulating the stock prices is he is screwing with peoples retirements, IRA's and 401k's. CEO's and individuals with stake in a stock or anything that is traded, such as crypto, should be held accountable for manipulating it, it is the law. I never have and never will participate in crypto, personally I believe it's a scam, and I don't have much sympathy for individuals losing money on it, but in this particular case I hope Musk is held liable.

[glalt]

Anyway you look at it, you don't get that obscenely wealthy by being stupid. Admit it or not, he is a genius.

[Potamoi]

just dumped some spacex employees for voicing disapproval of social media antics. that seems
to get folks in hot water often. stay off twitter

Funny how some read this kind of news as a rich guy firing people for being outspoken and others read it as the SpaceX COO removing some woke, entitled employees that were bullying and pressuring other employees to sign a paper with views they didn't share.

https://www.abc.net.au/news/2022-06-18/ ... /101164078

The real news may be that it wouldn't be news if it weren't Musk's company. Didn't Google have some letter being circulated a few years ago. Don't recall, perhaps it was not newsworthy.

When will the Boring Company get its turn in the news cycle for employees being told to get down in that hole and go work.

Perhaps SpaceX can now go back to making rockets fly.

[pepesgrill]

funny how some people insist on defending musk
no matter how many off-the-wall antics he executes. he gets a free pass on all non-genius stuff

if these were all his private companies fine. they're
not. he has fiduciary responsibility to behave tiny bit

[papafarang]

crypto is a gamble like anything to do with get rich quick schemes. just looked and bitcoin down to $19,000. ouch , mind you if you got them 10 years ago your still a lucky guy

[tamada]

It's just a game.

[stattointhailand]

It's just a game.

I suppose it HAS gone to penalties

[Kenr6583]

Is Musk intelligent? Yes. Is Musk innovative? Yes. Is Musk a genius? Please, sounds like something a fanboy would say. For all intent purposes he has been nothing more than an attention seeking grifter lately.

What he needs to do is spend less time talking and being a narcissistic tool and spend more time making a more reliable overpriced vehicle.

[stattointhailand]

Preferably one that doesn't need electricity.
Having had 10 hrs with no power today whilst they did some upgrade work (which they conveniently forgot to tell us about, even though they delivered a bill yesterday) I must admit I was wondering what will happen in 10 - 20 years time when you phone for an ambulance/fire engine and get told "can you hang on for a few hours, the powers gone down and we cant charge the vehicles"

[glalt]

It would appear that the fan boys estimates that Bitcoin would grow to $500,000 dollars were a little too optimistic. The question now is, "How low will it go".