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[HoodWinked]

Nah he can do as he pleases. Just as you can.

 

[E-Cat]

We had reusable rockets in the 80s. The space shuttle used a solid rocket booster and fuel tank the was reusable. They collected them from the ocean after every launch.

Yeah, that's not rapid reusability. Not to mention max payload too small.

 

[DeepBreath87]

Government backing is through war, coercion and commodities they control.

Bitcoin is backed by the worlds most powerful computer network. It is a firewall of encryption.

It is both a value and a transfer system. Those are why it is worth something.

lack of safety nets and increase in personal responsibility is not a bad thing in my opinion.

the US having control of the worlds money should not be viewed as a good thing in my opinion.

The bolded is power. Ultimately power is coercion and violence. If Bitcoin ever became an actual threat to fiat hegemony, government would move heaven and earth to combat it. Bitcoin has no power backing it and represents nothing that couldn’t be eroded easily by international governments. All they have to do is put up roadblocks to its use and its value would plummet. They don’t even have to eliminate it. All they need to do is damage public trust in its value, as it has no intrinsic value in and of itself.

 

[Vicetrailia]

Billionaire plays people to make another billion, surprise and saltiness ensues

 

[Cravis]

What? Is the Bitcoin market that volatile? It’s like it’s held together by popsicle sticks and Elmer’s glue like some 4 year olds craft project.

 

[E-Cat]

Billionaire plays people to make another billion, surprise and saltiness ensues

This is such an idiotic take. You clearly know nothing about Elon or what drives him.

Also, Tesla didn't sell any more of their BTC

 

[The_Mighty_X]

This is such an idiotic take. You clearly know nothing about Elon or what drives him.

Also, Tesla didn't sell any more of their BTC

Gawdamn dude. What's your hard on for defending Elon? Man can do no wrong in your eyes?

Next your gonna say his girlfriend is pretty...

 

[The_Mighty_X]

As much as $365 billion wiped off cryptocurrency market after Tesla stops car purchases with bitcoin

Tesla CEO Elon Musk said Tesla would suspend car purchases using bitcoin, wiping off billions of dollars of value from the cryptocurrency market.

www.cnbc.com

THAT is too much power for one man.

 

[E-Cat]

Gawdamn dude. What's your hard on for defending Elon? Man can do no wrong in your eyes?

Next your gonna say his girlfriend is pretty...

Because he's a good dude who has sacrificed a lot for the future to be good, and I see him unfairly maligned for bs reasons. I'm also an Aspie introvert who has watched practically every interview, so recognize a lot of my thinking in him -- save for the fact that his IQ is a couple standard deviations above mine -- so I feel like I know where he's coming from; And it's from a place of love and inspiration, not whatever people paint him as.

I feel a deep connection to his philosophy and genuinely don't understand the hate-boner that some harbor towards him, so I feel the need to defend him. It's personal to me ¯\_(ツ)_/¯

Can he do wrong? Yes, I didn't agree with him on COVID, for example. But that is neither here nor there.

You cannot typecast him as your standard, run-of-the-mill billionaire. Most of those people are a completely different species from Elon.

 

[tsumake]

Because he's a good dude who has sacrificed a lot for the future to be good, and I see him unfairly maligned for bs reasons. I'm also an Aspie introvert who has watched practically every interview, so recognize a lot of my thinking in him -- save for the fact that his IQ is a couple standard deviations above mine -- so I feel like I know where he's coming from; And it's from a place of love and inspiration, not whatever people paint him as.

I feel a deep connection to his philosophy and genuinely don't understand the hate-boner that some harbor towards him, so I feel the need to defend him. It's personal to me ¯\_(ツ)_/¯

Can he do wrong? Yes, I didn't agree with him on COVID, for example. But that is neither here nor there.

You cannot typecast him as your standard, run-of-the-mill billionaire. Most of those people are a completely different species from Elon.

I don’t agree with the hagiography, but Elon is willing to move humanity forward in a genuine way.

 

[Ionian]

LMAO at the people going into to hysterical fits to defend Musk's honour ITT.

As it he gives a fuck about the fact you exist.

I don' particularly like his persona and he's only gotten richer doing what he does, so fair play to him.

But he's not the second coming of Christ. LMAO. Extrememly funny to see those posters screech 'SACRILIDGE!!!!'.



EDIT: Hows his 'Hyperloop' coming along? hahahah

 

[QuantumZebra]

As far as I’m concerned he’s earned the right to talk about whatever he wants. You on the other hand OP, can STFU complaining about shit until you do something worth while.

I can get on board with this

But really: as others have said... why the fuck is someone basing their life savings or financial situation around the musings of a half crazy inventor?

If they do, they deserve to lose their ass

Elon's balls are getting passed around a lot in here...

Progress of humanity??? More than anyone alive?? He's made rockets reusable and made an overpriced EV.... hardly the level of feeding starving orphans ..

hell, Trump brought peace to North and South Korea and staved off a very possible nuclear war... oh, and brought you the vaccine... TRUTH bitches

And here we see why OP needs to stfu and recoup his crypto losses by gargling cashews

 

[E-Cat]

EDIT: Hows his 'Hyperloop' coming along? hahahah

I'll bite -- neither he nor any of his companies are working on it, so can't really blame him for any lack of progress there. Also, would you rather he did not publish the idea? What would be the gain in that?

 

[Rest]

He also manipulates Tesla stock. Dude should probably be in prison for this shit. He's helping his rich friends get richer by manipulating markets very publicly. Why the FTC isn't all the way up his ass is a mystery.

 

[T8SC]

 

[Ionian]

I'll bite -- neither he nor any of his companies are working on it, so can't really blame him for any lack of progress there. Also, would you rather he did not publish the idea? What would be the gain in that?

But it wasn't his idea to begin with? Try looking it up.

 

[E-Cat]

But it wasn't his idea to begin with? Try looking it up.

I really don't care whose idea it was originally. The fact is, he released a 57-page PDF for free and many companies were spawned off of that. If it was that obvious, then why didn't those companies exist before?

Also, if it wasn't his idea and he isn't even working on it atm, then what are you busting his balls for? You're just an asshole.

 

[Ionian]

Also, if it wasn't his idea and he isn't even working on it atm, then what are you busting his balls for? You're just an asshole.

ahahahahaha.

*Deep breath* hahahahahahaha.

Show Mommy where the bad guy hurt you child. I'll kiss it better.

 

[E-Cat]

ahahahahaha.

*Deep breath* hahahahahahaha.

Show Mommy where the bad guy hurt you child. I'll kiss it better.

?

Try harder, dude. Your so-called criticisms don't land.

 

[gamescoltsfan]

Well I need some crypto. Can Elon give us all 1 bitcoin to trade on stock market.

 

[E-Cat]

ahahahahaha.

But, to be clear, I really did mean it when I said you were an asshole -- not because you hurt my feelings; but, rather, because on a deep, deep level, you are an asshole.

What do I mean by this? Simply put, that you are fundamentally uninterested in human progress. You probably care more about things like 'clout', 'status', and 'credit'. You are what I refer to as a 'clown person'. But, then again, most mediocre people fit the same description.

It may sound like I'm dissing you. However, that is not completely accurate. I am, as opposed to you, a serious person. And I do mean that, I'm not much fun to be around. Therefore, and you probably don't believe me, I am genuinely curious -- and baffled -- as to what drives you to this behavior, so maybe you can enlighten me. Then again, probably not -- you are, after all, of the clown person persuasion. There shall forever be a rift between us.

 

[Ionian]

But, to be clear, I really did mean it when I said you were an asshole -- not because you hurt my feelings; but, rather, because on a deep, deep level, you are an asshole.

What do I mean by this? Simply put, that you are fundamentally uninterested in human progress. You probably care more about things like 'clout', 'status', and 'credit'. You are what I refer to as a 'clown person'. But, then again, most mediocre people fit the same description.

It may sound like I'm dissing you. However, that is not completely accurate. I am, as opposed to you, a serious person. And I do mean that, I'm not much fun to be around. Therefore, and you probably don't believe me, I am genuinely curious -- and baffled -- as to what drives you to this behavior, so maybe you can enlighten me. Then again, probably not -- you are, after all, of the clown person persuasion. There shall forever be a rift between us.

ahahahahaha, nice novel you wrote there child. I needed cheering up <3

Now drink your hot milk and go back to bed like a good boy.

 

[E-Cat]

ahahahahaha, nice novel you wrote there child. I needed cheering up <3

Now drink your hot milk and go back to bed like a good boy.

Why are you using words like 'mommy' and 'child'? It's kinda cringe.

Also, at no point have you addressed anything I said directly. It is because you are mute. You have no voice of your own. You are not interested in introspection or knowledge. What a sad existence you must lead.

But you are starting to bore me, so I will not address you again unless you say something of interest (highly doubtful).

 

[CloudNull]

 

[DeepBreath87]

He tweets this a Doge jumps 20%. The people that buy Doge now are just begging for someone to take their money.

 

[PSYGN]

Where did daddy Elon touch you?

 

[CloudNull]

He tweets this a Doge jumps 20%. The people that buy Doge now are just begging for someone to take their money.

It’s my money to loose and I trust Elon. I’m trying to find the original doge white paper to read.

 

[DeepBreath87]

It’s my money to loose and I trust Elon. I’m trying to find the original doge white paper to read.

Good luck man. I don’t wish anyone lost money. I just don’t see how anyone expect decent returns on Doge at this point. Back when it was .04? Sure. Go nuts. But I think the moment has passed. It just don’t see how it can maintain its value against infinite inflation.

 

[CloudNull]

Good luck man. I don’t wish anyone lost money. I just don’t see how anyone expect decent returns on Doge at this point. Back when it was .04? Sure. Go nuts. But I think the moment has passed. It just don’t see how it can maintain its value against infinite inflation.

It’s chump change that I can afford to lose.

Up until today I thought Elon was just memeing the coin but after his tweet about working with the engineers to make transactions more efficient, which in my opinion is the biggest issue with most cryptos, I decided to dump some money on doge and just hold until the end. Logically I still think Doge is a shit coin with no value.

Either Elon sees something we don’t or else he really doesn’t understand crypto as much as he thinks. We will have to wait and see.

 

[JayK47]

Elon wants to buy a video card. Fuck crypto.

 

[EverydayBeast]

I kinda like Elon promoting alternative currencies it scares the mainstream corporate traditional business world for the record I think digital currency is still being set up, guys backing out of it, people forgetting about bit coin, kids today remember their first dollar bill still not Bitcoin.
Anyway:

 

[Amory]

It is what it is. Crypto is the wild west and he's taking advantage.

I do think Musk is a gigantic phony, driven by ego and money much more than science and progress. Which is fine, but he pretends money is like, not important to him. When he was the richest man on earth he tweeted something like "oh weird, welp back to work!". But then he started blatantly manipulating the crypto market to enrich himself. I'm not a fan of the guy. But if you're going to invest in crypto, this is the current landscape. Take it or leave it.

 

[zeorhymer]

He's fine. I made money from doggos.

 

[Droxcy]

Stock market is just as volatile lol.

If you're in the crypto game and you don't expect this to happen then you shouldn't be investing or playing with money.

 

[Peggies]

Elon needs to stfu period

 

[Vicetrailia]

This is such an idiotic take. You clearly know nothing about Elon or what drives him.

Also, Tesla didn't sell any more of their BTC

Clearly with crypto is he playing games. typical scummy behavior. I wonder what the real reason is.

 

[BaneIsPain]

He is entertaining guy but if you make every financial decision based on his tweets. I have a bad news.

 

[West Texas CEO]

 

[nemiroff]

Good thing about it is that he's inadvertently exposing the utter ridiculous volatile nature of crypto currency.

 

[MayauMiao]

Really, this is some market manipulating shit he's pulling with crypto.

Bitcoin Tanks After Elon Musk Says Tesla Stops Accepting It Due To Carbon Energy Use

The cryptocurrency plunged after the billionaire entrepreneur said Tesla is no longer accepting Bitcoin as payment for purchases of its vehicles owing to the heavy amount of carbon-based energy it uses.

www.forbes.com

Elon - Tesla will accept BTC - BTC skyrockets
Elon - DOGE to the moon - DOGE skyrockets
Elon - DOGE is a hustle - DOGE crashes
Elon - can't accept BTC anymore- BTC crashes


Socially awkward, goofy mother luver....

(Edit) sorry, didnt see other thread. Delete this mods

The fact that he alone was able to influence the cypto market shows us how the currency is very vulnerable.

 

[QuantumZebra]

Good luck man. I don’t wish anyone lost money. I just don’t see how anyone expect decent returns on Doge at this point. Back when it was .04? Sure. Go nuts. But I think the moment has passed. It just don’t see how it can maintain its value against infinite inflation.

Unless I'm mistaken:

1. Dogecoin has effectively no cap, making it a fiat currency like the USD, but with no gov't or international backing.
2. If it closes in on $1 USD it will be in the realm of Cardano (ADA) which is a strong crypto with a cap (I believe).

So that would lead me to think Dogecoin will never be viable unless used as a sub-dollar replacement currency...?

 

[CloudNull]

Unless I'm mistaken:

1. Dogecoin has effectively no cap, making it a fiat currency like the USD, but with no gov't or international backing.
2. If it closes in on $1 USD it will be in the realm of Cardano (ADA) which is a strong crypto with a cap (I believe).

So that would lead me to think Dogecoin will never be viable unless used as a sub-dollar replacement currency...?

quoting a post from the other thread.

Although that is indeed what it looks like, since the price of DOGE is expressed in US dollars, we have to compare the inflation of both to get a good idea of what should happen with its price.

Money Supply M2 in the United States increased to 19896.20 USD Billion in March from 19669.80 USD Billion in February of 2021.

That is 226 billion in one month. The money supply M1 is even worse, at 271 billion.
10k per minute with doge translates to around 432 million additional coins per month.

Obviously that's not the whole picture, because there are a lot more USD in existence than Doge, so you have to look at it percentage-wise as well.

Dogecoin yearly inflation at this point is 4%, assuming a circulating supply of 129.6 billion.
The USD annual inflation rate is at around 4.2% right now, supposedly. It was 2.3% in 2019. If you calculate it through the extra amount of money printed vs the supply, the number is higher, but we'll ignore that for now.

Although both Doge and the dollar are inflationary, the US dollar is inflating faster as of now, and it's only going to get worse. The supply rate of Dogecoin is constant, which means that percentage-wise, its inflation rate will actually slowly decrease over time. As an example, if the circulating supply of Dogecoin reaches 200 billion, the coin supply still being 10k coins per minute would put its inflation rate at 2.6% rather than 4%. It will still be inflationary, but relatively speaking will inflate more slowly. That is in contrast to the dollar, of which its inflation rate is pretty much guaranteed to keep increasing at this point.

It means you're better off owning Doge than owning USD. Theoretically speaking, anyway.

If what Ascent said about inflation is true then Dogecoin has inflation built in which sits correctly in the goldi lock zones. I believe inflation below 1% is to low and inflation above 4% is too high. You need inflation for an economy to work.

If you were going to try and have a crypto that could be a true decentralized payment, essentially a fiat currency that no one owns controls then Doge my actually be a play.

The blockchain is a few mutations away from the Bitcoin blockchain but it takes much less energy because of the smaller hash rate. If they can prevent congestion on the back end which Blockchain and Ethereum have then Elon might be on to something.....

Elon might not be as crazy as I thought by pushing Doge so hard. I have dipped my toes into the water because I’m cautiously optimistic but I am not holding my breath.

 

[DeepEnigma]

He’s been “compromised,” the SNL should have tipped that one off.

 

[E-Cat]

Painfully accurate.

 

[Amory]

Isn't the volatility kind of the point for crypto investors right now anyway? If it wasn't super volatile it wouldn't go up thousands of percentage points either. If you're not into that, just go park your money in an index fund where 3% up or down is a wild day.

 

[Kev Kev]

lol somebody lost money on bitcoin this week

 

[Ascend]

The bolded is power. Ultimately power is coercion and violence. If Bitcoin ever became an actual threat to fiat hegemony, government would move heaven and earth to combat it. Bitcoin has no power backing it and represents nothing that couldn’t be eroded easily by international governments. All they have to do is put up roadblocks to its use and its value would plummet. They don’t even have to eliminate it. All they need to do is damage public trust in its value, as it has no intrinsic value in and of itself.

China has banned Bitcoin in 5 different ways already. Guess where the largest mining farms are.

If you want another example of a tech that governments can't ban, look at torrents. Look how long they have been battling them. They still cannot eradicate it. And that is WITHOUT torrents being decentralized and without using blockchains. Bitcoin is here to stay. Anyone that thinks or says otherwise simply does not understand it.

As for damaging public trust in its value, that's kind of hard when the main global currency is on the verge of collapse.

 

[Mitsuda Maniac]

China has banned Bitcoin in 5 different ways already. Guess where the largest mining farms are.

If you want another example of a tech that governments can't ban, look at torrents. Look how long they have been battling them. They still cannot eradicate it. And that is WITHOUT torrents being decentralized and without using blockchains. Bitcoin is here to stay. Anyone that thinks or says otherwise simply does not understand it.

As for damaging public trust in its value, that's kind of hard when the main global currency is on the verge of collapse.

With its New IP plan, China is trying to create a new internet in its own image

Political and technological problems might sink China's New IP plan, but China could reshape the internet in subtler ways.

www.cnet.com

 

[CloudNull]

Doge about to go from a meme to the people’s crypto.

 

[Lord Panda]

Cardano Ada shrugged off Elon’s BS and forged ahead regardless. All the crap that he’s progressing to want are being provided, and then some, by third generation cryptocurrencies such as Cardano Ada.

Not sure what his angle is right now but the dude is a goddamn idiot nonetheless.