591–600 of 758 posts
Honestly, I wouldn’t be surprised if the SEC investigates him (again), this time for what was quite possibly a pump-and-dump. Personally, I don’t think he started accepting BTC in good faith, it seems like a (pretty transparent) move to manipulate the price.
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Non mining nodes do diddly squat.
Nonsense. If miners's new block isnt accepted by the network - they've just lost millions. Rules are enforced by block verification of the nodes that accept - or refuse to accept mined blocks. It's amazing that in 2021 people still do not understand the basics of it.
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Cus he's not that bright. Isn't this the elephant in the room that no one wants to consider? Why do we have to start with the assumption that Musk is a genius, then work back from that? The dude thought covid would go away last May. He thinks it's easier to make Mars habitable than it is to keep the Earth habitable. He's thought that full self driving was 6 months away for literally 4 years now. And he didn't really…
SpaceX wins lots of space contracts with the help of Musk's "Occupy Mars" marketing. Tesla sells lots of cars on the promise of self-driving in the marketing. Musk bought BTC, single-handedly pumped the price of BTC, and then sold at a huge profit. I don't think he's a genius but Musk is definitely not stupid. He's just not playing the obvious game you think he's playing.
I don't think musk/tesla has sold a single btc..
Very perplexing behavior from Musk, I must say. Bitcoin's energy consumption has been front-and-center for a few years now and even more so when the bull market got hot. How does Musk decide to throw $1.5 billion worth of Tesla's cash into BTC without acknowledging this? I was expecting a little bit more due-diligence from him, but he's been absolutely consumed by crypto markets in general.
Two very plausible theories: - Musk is not very smart, or at least doesn't always think decisions through or go through proper due diligence(we have evidence for this: see SEC tweets, thai children rescue, excessive management turnover, etc.) - He (and Tesla management) know he can manipulate the crypto market. So they (first) bought $1.5B in BTC unknowingly to the public, (second) told the market they did (third) so…
But on the bright side, guess what?
With every open system 'manipulation' attempt, the market gets smarter & more resilient to such.
I'm surprised that nobody's mentioned it here, but this crypto boom has sent demand for mining hardware through the roof, which has contributed in no small part to the chip shortage. Miners are buying up ASICs, GPUs and FPGAs at a premium. In the short term, crashing the crypto market can ease demand for semiconductors, but in the long term, getting cryptos to move to Proof of Steak will hopefully ease it up for good…
You would have to crash the crypto market by 95% for years to have any affect on miners and ongoing investment into chips, which is a small small portion of chip demand.
Good luck imagining this is related.
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Cus he's not that bright. Isn't this the elephant in the room that no one wants to consider? Why do we have to start with the assumption that Musk is a genius, then work back from that? The dude thought covid would go away last May. He thinks it's easier to make Mars habitable than it is to keep the Earth habitable. He's thought that full self driving was 6 months away for literally 4 years now. And he didn't really…
No comment on how smart or stupid Elon is (he is somehow effective ), but I'm with you on all of those things except "He thinks it's easier to make Mars habitable than it is to keep the Earth habitable": The concept of having humans on another planetary body makes a lot of sense as a backup-plan for humanity. The Drake equation be damned - in case we're actually alone, we have a pretty strong moral requirement to mak…
Imagine trying to build up population centers at the bottom of the ocean in order to have a backup plan for some nuclear winter on the surface. You could just build your hermetically-sealed, closed-system things on the ground! They'd work just as well (absent, I guess, the getting nuked part). Mars is that, plus you gotta actually get over there to send resources for the first couple hundred years.
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How many of those workers have friends and/or relatives who are part of a vulnerable demographic?
Nobody's forcing them to associate with vulnerable friends or relatives. And it's not like they don't have a choice; tech workers aren't exactly poor.
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It is illegal to "pump and dump" a security. I have a hard time believing the people here defending Musk dont know this, and can't see how his behaviour _migbt_ qualify as a pump and dump.
Except Bitcont isn't a security, so there are no laws against "Pump and Dump" in the unregulated market. Some would argue that Bitcoin is fundamentally a giant "Pump and Dump" anyway, so nothing to see here.
You may be technically correct, doesn't make it any less sketch or immoral
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The proof of stake ETH2 chain is already live for Ethereum and has been since December. That chain is parallel to the existing proof of work chain. They now need to merge the POW chain into the ETH2 validator nodes so they can conduct consensus from there on. The merge has been simulated already and is being tested. Core devs seem to be confident it will be feasible with low risk. But of course, there's always a chan…
It's one thing for it to be live, it's another thing for it to be stress tested in actual production/real world with people's actual money. I have a vested interest in hoping it lands successfully, but being a software engineer, I know how many bugs I've had even in simple programs, I can only imagine the kinds of bugs that will be discovered in eth2 considering just how complex it is.
For the uninitiated read about the dao hack and the debate that ensued. Basically, they just rolled back the transaction, just like a bank.
Very perplexing behavior from Musk, I must say. Bitcoin's energy consumption has been front-and-center for a few years now and even more so when the bull market got hot. How does Musk decide to throw $1.5 billion worth of Tesla's cash into BTC without acknowledging this? I was expecting a little bit more due-diligence from him, but he's been absolutely consumed by crypto markets in general.
https://www.businessinsider.com/tesla-renewable-fuel-credits...
Probably means his tweets are nothing but greenwashing.