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Elon needs to stfu with crypto

thefool

thefool

Member
Just change a bunch of variables and we good. How did not everyone think of that.
What a clown-show.
 
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The_Mighty_X

The_Mighty_X

Banned
Why do people automatically assume just because dude is smart in one field then he will be smart in a completely different field?

Bill Gates is another example. He should STFU about vaccines.
 
crazepharmacist

crazepharmacist

Member
If crypto had actual value, it wouldn't matter what Elon says.

Like you think if Elon Musk shit all over AAPL, the stock would just tank overnight?

It would have absolutely zero bearing.
 
QuantumZebra

QuantumZebra

Member
crazepharmacist said:
If crypto had actual value, it wouldn't matter what Elon says.

Like you think if Elon Musk shit all over AAPL, the stock would just tank overnight?

It would have absolutely zero bearing.
Click to expand...

Thats a faulty line of thinking.

Apple is a standard in its industry/field.

Bitcoin, even as the standard-bearer of crypto, found it's footing barely 5 years ago.

Not even apples and oranges (kek), more like apples and waffles.
 
GHG

GHG

Member
crazepharmacist said:
If crypto had actual value, it wouldn't matter what Elon says.

Like you think if Elon Musk shit all over AAPL, the stock would just tank overnight?

It would have absolutely zero bearing.
Click to expand...

That's because Apple's current market cap is pretty much there or there about's based on where they are as a company today. Musk has the ability to create a short term dive in Apple's share price but a long term one? No chance, people would scoop those shares up in no time.

However if someone prominent cast doubt around Tesla then oh boy... I don't even think the biggest threat to Tesla's current share price is if someone else chats shit about it, Musk is more than capable of tanking it himself via his own twitter.

It's not necessarily about "actual value" because that is up for debate as far as Bitcoin is concerned (I'm assuming you think it has no value?), it's more about whether something is currently priced in line with it's real world value. Ultimately that is why we've seen so much volatility in bitcoin (and all other cryptos) - because the "value" part is still being worked out and agreed upon.

Incidentally you can also see the same level of volatility in certain stocks for "high growth" companies in recent months. Why? It's a lot of speculation and nobody can agree on what some of these companies are currently worth, never mind 5 years in the future.
 
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crazepharmacist

crazepharmacist

Member
GHG said:
That's because Apple's current market cap is pretty much there or there about's based on where they are as a company today. Musk has the ability to create a short term dive in Apple's share price but a long term one? No chance, people would scoop those shares up in no time.

However if someone prominent cast doubt around Tesla then oh boy... I don't even think the biggest threat to Tesla's current share price is if someone else chats shit about it, Musk is more than capable of tanking it himself via his own twitter.

It's not necessarily about "actual value" because that is up for debate as far as Bitcoin is concerned (I'm assuming you think it has no value?), it's more about whether something is currently priced in line with it's real world value. Ultimately that is why we've seen so much volatility in bitcoin (and all other cryptos) - because the "value" part is still being worked out and agreed upon.

Incidentally you can also see the same level of volatility in certain stocks for "high growth" companies in recent months. Why? It's a lot of speculation and nobody can agree on what some of these companies are currently worth, never mind 5 years in the future.
Click to expand...

Stocks can be overvalued, undervalued, fairly valued. TSLA is pretty clearly overvalued with a P/E ratio of what, around 1,000? That's insane.

But how do you value bitcoin or any of the other cryptos? You simply can't. There's no fundamentals. There's no P/E ratio. No revenue. No profits. It has no value.
 
GHG

GHG

Member
crazepharmacist said:
Stocks can be overvalued, undervalued, fairly valued. TSLA is pretty clearly overvalued with a P/E ratio of what, around 1,000? That's insane.

But how do you value bitcoin or any of the other cryptos? You simply can't. There's no fundamentals. There's no P/E ratio. No revenue. No profits. It has no value.
Click to expand...

If you look through history the same debate was had about many metals until a common value and use cases were discovered (and executed upon).

Bitcoin and many other non-meme crypto's are still very much in their infancy, each with their own unique strengths and weaknesses along with unique potential use cases. Ultimately it could all end up being nothing but as long as there's still a chance that these cryptos will carve out their own unique niches that can't be replicated in any other way you will continue to see speculative trading on them like we have up until now.

Totally agree on TSLA by the way. Volatility is always higher on stocks that are highly overvalued or highly undervalued. The current and future value for all crypto's is a big fat question mark at the moment, hence the insane levels of volatility across the board. I strongly believe it's too early to write them all off entirely though.
 
crazepharmacist

crazepharmacist

Member
GHG said:
If you look through history the same debate was had about many metals until a common value and use cases were discovered (and executed upon).

Bitcoin and many other non-meme crypto's are still very much in their infancy, each with their own unique strengths and weaknesses along with unique potential use cases. Ultimately it could all end up being nothing but as long as there's still a chance that these cryptos will carve out their own unique niches that can't be replicated in any other way you will continue to see speculative trading on them like we have up until now.

Totally agree on TSLA by the way. Volatility is always higher on stocks that are highly overvalued or highly undervalued. The current and future value for all crypto's is a big fat question mark at the moment, hence the insane levels of volatility across the board. I strongly believe it's too early to write them all off entirely though.
Click to expand...

Fair enough on metals. Gold has no real value either. Just what other people make of it.

But you can't replicate gold ad infimum like you can with Crypto's.

How many crypto's exist now? There's a new one coming out almost everyday.

There's one called "Cumrocket" for fucks sake.
 
T

Themacabre

Member
crazepharmacist said:
Stocks can be overvalued, undervalued, fairly valued. TSLA is pretty clearly overvalued with a P/E ratio of what, around 1,000? That's insane.

But how do you value bitcoin or any of the other cryptos? You simply can't. There's no fundamentals. There's no P/E ratio. No revenue. No profits. It has no value.
Click to expand...
This is correct. In fact, can someone tell me the value of any bitcoin without comparing it to USD? My US dollar doesn't have value because it's worth X amount of a Canadian dollar. So what is the value of 1 bitcoin, not the worth in some other currency.

Yes, I have coins, and yes I used them to earn myself USD. What else would they be used for?
 
GHG

GHG

Member
crazepharmacist said:
Fair enough on metals. Gold has no real value either. Just what other people make of it.

But you can't replicate gold ad infimum like you can with Crypto's.

How many crypto's exist now? There's a new one coming out almost everyday.

There's one called "Cumrocket" for fucks sake.
Click to expand...

Most of the most frequently talked about and traded coins do have limited supply though (or a cap that is yet to be reached), that's the whole principle behind the halving rate.

It can be argued that we are in a bit of a "gold rush" phase for crypto at the moment. Eventually there will come a point where people will realise the effort of creating a new coin will not be worth it (unless it's legitimate and has a unique niche) since people will eventually stop trading worthless meme coins due to exhaustion.

Regulation doesn't even need to happen to prevent this, if the market proves to be efficient (which it inevitably will) then the useless coins with no value will die on their own terms and that is what will ultimately dissuade people from both creating and trading them.
 
crazepharmacist

crazepharmacist

Member
GHG said:
Most of the most frequently talked about and traded coins do have limited supply though (or a cap that is yet to be reached), that's the whole principle behind the halving rate.

It can be argued that we are in a bit of a "gold rush" phase for crypto at the moment. Eventually there will come a point where people will realise the effort of creating a new coin will not be worth it (unless it's legitimate and has a unique niche) since people will eventually stop trading worthless meme coins due to exhaustion.

Regulation doesn't even need to happen to prevent this, if the market proves to be efficient (which it inevitably will) then the useless coins with no value will die on their own terms and that is what will ultimately dissuade people from both creating and trading them.
Click to expand...

so new and improved coins can come out at any time, devaluing previously existing coins. Someone can make Bitcoin 2.0, destroying the value of Bitcoin 1.0. The US government can come out with their own coin. In fact they already have software engineers working on a logo according to Jerome Powell.
 
GHG

GHG

Member
crazepharmacist said:
so new and improved coins can come out at any time, devaluing previously existing coins. Someone can make Bitcoin 2.0, destroying the value of Bitcoin 1.0. The US government can come out with their own coin. In fact they already have software engineers working on a logo according to Jerome Powell.
Click to expand...

Yep, as is the risk with any investment something new and better can come along at any point.

Anyone putting all of their money into bitcoin (or any crypto) and/or is putting money into it thinking they can forget about it because it will just go up over the next decade is an idiot.
 
godhandiscen

godhandiscen

There are millions of whiny 5-year olds on Earth, and I AM THEIR KING.
I didn’t want to believe Musk was a manipulator, but today I saw it, he tweeted against Bitcoin just at an inflection point as it was mooning towards $39500.

Funny that he used an image too, sentiment analysis bots were left in the cold and ended up selling more since humans beat them to sell.

Anyway, BTC seems to be recovering from the dip he caused, which means he doesn’t have much of an effect on the market anymore.
Bitch.
 
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