Tesla makes 1.5 billion bitcoin purchase

[CRA]

Musk IMO is as equally crazy as he is brilliant.  

Tesla buys $1.5 billion in bitcoin, plans to accept it as payment (cnbc.com)

[Brooklyn 3.0]

He's just a rich kid playing with his money. I'd like to see the list of charities he gives to so I can at least have some respect for him. His space stuff does nothing for me. He recently let Twitter decide in a vote if he should sell stock. Meanwhile in 3rd world countries ...

[CanePantherHornet]

Nah fug this guy. He single handedly crashed the whole market a few months back when he decided he wasn't accepting bitcoin anymore because it wasn't eco friendly. His blatant manipulation is going to end up having heavy restrictions placed on the entire industry.

[Khyber53]

The guy is going to run afoul of the SEC again or the IRS or some other entity before too long. Too much money, too much smarts and too much THC for it not to end up in an accident. 

As soon as he comes out and says crypto currency is just imaginary money, the game is up. A lot of folks will lose their shirts and everything else they have but he'll still have more money squirreled away than anyone could ever imagine dealing with.

Dude just needs to pay his fair share of taxes.

[Panther'sBigD]

On 11/12/2021 at 10:20 AM, Brooklyn 3.0 said:

He's just a rich kid playing with his money. I'd like to see the list of charities he gives to so I can at least have some respect for him. His space stuff does nothing for me. He recently let Twitter decide in a vote if he should sell stock. Meanwhile in 3rd world countries ...

I can't believe it's finally happened. I agree with you on something. Gross. 

[cardiackat88.]

I am very, very apprehensive of crypto. It seems to be being pushed MAJORLY.

News like this doesn't help me think any differently, only increases suspicion.

So how much of the entire Bitcoin pool does Tesla own now? The picture being painted to me is that millions of people have invested in crypto and it has really driven the value up. Lets say Tesla now owns anything as low as 10-25% of the stock. The rest of the stock is likely to be owned individually by very, very small percentages (like one individual person accounting for .01 percent or less). The second Tesla cashes out, everybody else is screwed.

Sure, some people may pull their tiny stock and make some money, but from what I see and hear, it doesn't seem to be the case. People seem to love seeing the massive increases in value and are not willing to just take the (fictional) $50K they made off of their (fictional) $5 investment. I remember seeing something a lot like this on the gameshow "Lets Make a Deal". Basically, just about every player fell for the exact same formula. They would be in the $100,000 range or so and instead of accepting that, they would always choose the option of doubling, tripling, etc. They always went home broke. I saw one guy, one time, refuse to take his chances and go past the $100,000. It was super boring and anti-calamitic, but you could tell the producers were really losing their minds over it.

It just seems like yet another way to get people pumped up and hand their money over to billionaires/capitalist's 

 

[Khyber53]

The crash has begun. 

https://www.forbes.com/sites/billybambrough/2021/12/03/300-billion-bitcoin-and-crypto-price-crash-after-stark-fed-warning-ethereum-bnb-solana-cardano-and-xrp-in-free-fall/?sh=2a7d01f622fd

And it than just the Fed tapering. All this advertising for crypto buying services isn't about making crypto stronger, it's about selling off before the big crash. Be smart, this bubble is the bubbliest one since the great Tulip collapse.

[cardiackat88.]

3 hours ago, Khyber53 said:

The crash has begun. 

https://www.forbes.com/sites/billybambrough/2021/12/03/300-billion-bitcoin-and-crypto-price-crash-after-stark-fed-warning-ethereum-bnb-solana-cardano-and-xrp-in-free-fall/?sh=2a7d01f622fd

And it than just the Fed tapering. All this advertising for crypto buying services isn't about making crypto stronger, it's about selling off before the big crash. Be smart, this bubble is the bubbliest one since the great Tulip collapse.

 I have noticed and ungodly amount of crypto ads being shoved in my face at every single site I go to.

Just seems so obviously fishy and forced.