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Musk endeavours

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odysseus2000
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Re: Musk endeavours

#412323

Postby odysseus2000 » May 15th, 2021, 10:58 pm

onthemove
I think I misunderstood your post on first reading.

I thought you meant that video you linked to was the hacked one, but on re-reading, do you mean that you think someone used that video as the foundation to create a new, separate hacked (or rather 'faked' / 'modified') video that was published by someone else - the one that is now private?


Yes, sorry for confusion.

I believe the original video was used as a foundation to create the new hacked video with the intent to create a Doge coin video fraud: The video on youtube that has now been made private.

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NotSure
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Re: Musk endeavours

#412483

Postby NotSure » May 16th, 2021, 3:44 pm

odysseus2000 wrote:
Yes, sorry for confusion.

I believe the original video was used as a foundation to create the new hacked video with the intent to create a Doge coin video fraud: The video on youtube that has now been made private.

Regards,


My apolgies too - I posted the original link, which I believe was a Doge scam - a scam within a scam, if you share my views on Doge. In fact, a scam within a scam within a scam if you don't like Musk :)

e.g. from a co-founder of Doge: "Elon Musk is and always will be a self-absored grifter'
https://www.businessinsider.com/dogecoin-creater-elon-musk-self-absorbed-grifter-jackson-palmer-2021-5?r=US&IR=T

“Elon Never Contacted Us” Says Dogecoin Lead Developer
https://coinmarketcap.com/headlines/news/breaking-elon-never-contacted-us-says-dogecoin-lead-developer/

I did however find the interview with Musk quite interesting, though I only watched 30 minutes or so. I'm not sure I'm up for 3 1/2 hours, but will view more of it at some point. Really brought home the commercial complexities of scaling a company, on top of the fact that no matter how much cash (or even bitcoin) you have on hand, you cannot simply ramp up R&D since gifted engineers are a finite resource.

odysseus2000
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Re: Musk endeavours

#412532

Postby odysseus2000 » May 16th, 2021, 7:09 pm

India Today, say that Musk has been working with Dogecoin since 2019.

I have no idea about the truth of the contacts between Musk and Doge, but this article states the connection and that Musk offered funding which was declined, but he is still in contact about improving the mining:

https://www.indiatoday.in/technology/ne ... 2021-05-16

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odysseus2000
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Re: Musk endeavours

#412536

Postby odysseus2000 » May 16th, 2021, 7:24 pm

This article gives yet another view of Doge and Musk involvement:

https://www.fool.com/the-ascent/buying- ... ince-2019/

Clearly a lot of this is very contradictory, most certainly in the regime of Caveat Emptor.

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Re: Musk endeavours

#412596

Postby odysseus2000 » May 17th, 2021, 1:05 am

Not clear if Tesla has or will sell its bitcoin holding:

https://finance.yahoo.com/news/musk-imp ... 01769.html

Bitcoin has been a good short since the 11th of May:

https://twitter.com/0_ody/status/139408 ... 97856?s=20

It is interesting to see the brutal exchanges on twitter.

For anyone who knows how to trade technically, the Cryptos have been a gold mine that keeps on giving.

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Re: Musk endeavours

#412626

Postby BobbyD » May 17th, 2021, 8:45 am

Fully Charged interview with the CEO of Northvolt: https://www.youtube.com/watch?v=cOHjIav97HM

NotSure
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Re: Musk endeavours

#412660

Postby NotSure » May 17th, 2021, 10:47 am

odysseus2000 wrote:For anyone who knows how to trade technically, the Cryptos have been a gold mine that keeps on giving.


They certainly offer plenty of volatility! I haven't tried or back tested (life is far too short) but it looks to me like you could make money by rotating through the altcoins - buy the biggest loser of the past few days, wait a few more days, sell, repeat. It may all work well until you overextend and it all goes 'puff'' while you were on a tea break....

I hope crypto will also have another use - there is 'smart' money (professionals and skilled retail), 'dumb money' (unskilled retail) and, I would say 'silly money' - FOMO driven, very 'hot', put in the market when things get frothy or bubbly. Hopefully a good chunk of 'silly money' will get sucked into crypto rather than equities and help cushion the inevitable blow of the next bear :)

The Doge thing sounds a bit like the Thai caving disaster - Musk sticking his nose in where it isn't wanted......

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Re: Musk endeavours

#412667

Postby odysseus2000 » May 17th, 2021, 11:06 am

notsure

They certainly offer plenty of volatility! I haven't tried or back tested (life is far too short) but it looks to me like you could make money by rotating through the altcoins - buy the biggest loser of the past few days, wait a few more days, sell, repeat. It may all work well until you overextend and it all goes 'puff'' while you were on a tea break....

I hope crypto will also have another use - there is 'smart' money (professionals and skilled retail), 'dumb money' (unskilled retail) and, I would say 'silly money' - FOMO driven, very 'hot', put in the market when things get frothy or bubbly. Hopefully a good chunk of 'silly money' will get sucked into crypto rather than equities and help cushion the inevitable blow of the next bear :)


By technical trading I was referring to trading the price action with the volatility, not about trying to set up schemes based on rotations between strong and weak crypto which I have never found to be satisfactorily profitable.

Hot money is potentially coming out of crypto and back into equities. Should be pretty obvious if this rotation gets any momentum.

For now, crypto probably need Musk, more than Musk needs crypto, given that crypto are still not held by much of the population and there is still a selling job to increase the take-up.

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Re: Musk endeavours

#412695

Postby NotSure » May 17th, 2021, 12:02 pm

odysseus2000 wrote:...For now, crypto probably need Musk, more than Musk needs crypto...


Not sure about that. BTC was responsible for a good chunk of TSLA last Q profit.

I think 'get rich quick' crypto can be helped out by Musk - I'd certainly like an advance warnings of his tweets - but "serious" projects need Musk like a stranded caver needs a yet to be built submarine ;)

e.g.
Ethiopia overhauls its education system with IOHK blockchain partnership

....IOHK’s Atala PRISM ID will enable authorities to create a tamper-proof record of educational performance for five million students, 3,500 schools and 750,000 teachers to pinpoint the locations and causes of educational under-achievement while targeting educational resources effectively.....


https://www.cityam.com/ethiopia-overhauls-its-education-system-with-iohk-blockchain-partnership/

Things like this create a way for honest students to prove their credentials - much better than simply bribing a few officials. But no-ones going to get rich quick from schemes like these. By suggesting dross like Doge are the future, Musk's input is really, really counter-productive IMHO.

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Re: Musk endeavours

#412699

Postby NotSure » May 17th, 2021, 12:16 pm

odysseus2000 wrote:By technical trading I was referring to trading the price action with the volatility


Trading crypto [3:38] https://www.youtube.com/watch?v=lQegMA_kY9Y&ab_channel=LifeAccordingToJimmyLifeAccordingToJimmy :)

(contains bad language)

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Re: Musk endeavours

#412701

Postby odysseus2000 » May 17th, 2021, 12:31 pm

NotSure
https://www.cityam.com/ethiopia-overhau ... rtnership/

Things like this create a way for honest students to prove their credentials - much better than simply bribing a few officials. But no-ones going to get rich quick from schemes like these.


I imagine that the politicians who authorised this and the company that has been chosen will all make a shed load of money from this. Whether it will work or benefit the students, who knows, but it looks to be a good example of how politicians and their mates make a packet.

NotSure
Not sure about that. BTC was responsible for a good chunk of TSLA last Q profit.

I think 'get rich quick' crypto can be helped out by Musk - I'd certainly like an advance warnings of his tweets - but "serious" projects need Musk like a stranded caver needs a yet to be built submarine ;)


Tesla booked $101 million in profit from its sale of bitcoin in the last quarter and at the same time paid Mr. Musk $267m in stock based compensation. One might argue that Musk's support of crypto has been a blessing for Tesla shareholders.

In a few quarter all the compensation from the 2018 stock based compensation for Musk will have been paid and Tesla will then, if sales continue to be buyout, have a situation where Tesla shareholders will see a lot more of the profits staying with the company, rapidly bringing down the p/e.

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odysseus2000
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Re: Musk endeavours

#412703

Postby odysseus2000 » May 17th, 2021, 12:38 pm

NotSure wrote:
odysseus2000 wrote:By technical trading I was referring to trading the price action with the volatility


Trading crypto [3:38] https://www.youtube.com/watch?v=lQegMA_kY9Y&ab_channel=LifeAccordingToJimmyLifeAccordingToJimmy :)

(contains bad language)


Ha Ha!

Perhaps what happens to a lot of punters, but nothing remotely like how someone trained in Day Trading would approach the situation.

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Re: Musk endeavours

#412714

Postby NotSure » May 17th, 2021, 1:17 pm

odysseus2000 wrote: One might argue that Musk's support of crypto has been a blessing for Tesla shareholders.



'Que?' (I've been watching Fawlty Towers repeats...)

How much has $TSLA risen since they bought crypto? How much has $BTC fallen since Musk's about turn? Is that what is known as 'a blessing in disguise'? :)

Perhaps he traded all Tesla's BTC for DOGE, then dumped BTC (we do know he pumped DOGE). If so, Tesla are quids in, but hardly a great way to treat shareholders capital.

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Re: Musk endeavours

#412718

Postby BobbyD » May 17th, 2021, 1:25 pm

NotSure wrote:
odysseus2000 wrote: One might argue that Musk's support of crypto has been a blessing for Tesla shareholders.



'Que?' (I've been watching Fawlty Towers repeats...)

How much has $TSLA risen since they bought crypto? How much has $BTC fallen since Musk's about turn? Is that what is known as 'a blessing in disguise'? :)

Perhaps he traded all Tesla's BTC for DOGE, then dumped BTC (we do know he pumped DOGE). If so, Tesla are quids in, but hardly a great way to treat shareholders capital.


Musk has confirmed Tesla haven't sold BTC after his latest ill advised tweet on an account which is recognised as a valid method of disseminating price sensitive information about Tesla...

https://www.independent.co.uk/life-styl ... 48581.html

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Re: Musk endeavours

#412735

Postby NotSure » May 17th, 2021, 2:16 pm

BobbyD wrote:Musk has confirmed Tesla haven't sold BTC after his latest ill advised tweet...


Indeed. But what about before? ;)

He's either done an extremely transparent pump and dump (I assume any trades will have to be reported in due course?) or he has saddled Tesla with $1B of depreciating twitcoin he can't even sell!

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Re: Musk endeavours

#412740

Postby odysseus2000 » May 17th, 2021, 2:32 pm

NotSure wrote:
BobbyD wrote:Musk has confirmed Tesla haven't sold BTC after his latest ill advised tweet...


Indeed. But what about before? ;)

He's either done an extremely transparent pump and dump (I assume any trades will have to be reported in due course?) or he has saddled Tesla with $1B of depreciating twitcoin he can't even sell!


Yes, but it all depends on what happens to bitcoin.

Say there are some changes to how bitcoin is mined, Musk then says how much better things are and bitcoin reverses to the upside.

It seems very unlikely to me that bitcoin will vanish, there are too many people in it and prepared to stomach volatility for potential future gains.

Meanwhile, FIAT currency looks to be being devalued via the huge Prez Biden print.

I have no idea where all of this goes, but in the by and by 1billion in btc on the balance sheet might not look so bad, at worst it goes to zero then about 1in 20 or 5% of Tesla's cash will have vanished. I doubt many Tesla investors will lose sleep over that when there are so many other things to consider.

As things are the buy and part sale of bitcoin generated profits that eat up a good bit of Musk's compensation in the last quarter.

Regards,

PS it would be dangerous for Musk to say Tesla has sold no bitcoin and then later for the company to disclose earlier sales, if so potentially setting up Tesla for another scrap with the SEC.

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Re: Musk endeavours

#412742

Postby odysseus2000 » May 17th, 2021, 2:36 pm

NotSure
'Que?' (I've been watching Fawlty Towers repeats...)

How much has $TSLA risen since they bought crypto? How much has $BTC fallen since Musk's about turn? Is that what is known as 'a blessing in disguise'? :)

Perhaps he traded all Tesla's BTC for DOGE, then dumped BTC (we do know he pumped DOGE). If so, Tesla are quids in, but hardly a great way to treat shareholders capital.


How much media coverage have you seen recently of the delays in the S & X, Cyber and Sportscars.

While the media fuss over cryptos they ignore other potential worse troubles.

Regards,

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Re: Musk endeavours

#412745

Postby NotSure » May 17th, 2021, 2:45 pm

odysseus2000 wrote:PS it would be dangerous for Musk to say Tesla has sold no bitcoin and then later for the company to disclose earlier sales, if so potentially setting up Tesla for another scrap with the SEC.


Indeed, but sticking to the letter of what he tweeted does not preclude selling BTC before the tweet, nor buying it after, once he'd crashed the price.

However, I agree. To do either would be madness, and Musk is clearly a very stable individual.

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Re: Musk endeavours

#412747

Postby odysseus2000 » May 17th, 2021, 3:01 pm

NotSure wrote:
odysseus2000 wrote:PS it would be dangerous for Musk to say Tesla has sold no bitcoin and then later for the company to disclose earlier sales, if so potentially setting up Tesla for another scrap with the SEC.


Indeed, but sticking to the letter of what he tweeted does not preclude selling BTC before the tweet, nor buying it after, once he'd crashed the price.

However, I agree. To do either would be madness, and Musk is clearly a very stable individual.


Lets not forget that there is board between the CEO and corporate action and a master of coin too.

Regards,

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Re: Musk endeavours

#412769

Postby NotSure » May 17th, 2021, 4:31 pm

He's been at it again! Last night tweeted that he may indeed have dumped his BTC (crash went the price):

https://twitter.com/CryptoWhale/status/1393981793813078017

Then this morning seemed to confirm he hadn't:

https://twitter.com/elonmusk/status/1394170030741413888

Reported here:

https://www.marketwatch.com/articles/tesla-stock-drops-its-time-for-musk-to-sell-1-9-billion-in-bitcoin-51621263566?mod=mw_latestnews

Tesla stock seems to fall on Mondays —and the start to this week was no different. Today’s drop appears to be a new issue for the electric vehicle maker: Bitcoin. Investors are growing tired of the distraction....

...Tesla disclosed its initial $1.5 billion Bitcoin stake in February; since then, shares are down about 32%. The Nasdaq Composite is also down about 4% over the same period. A primary reason is that higher interest rates and a recovering economy has resulted in a rotation out of high-growth names such as Tesla and into more cyclical stocks.

Still, Bitcoin has become a distraction for investors and management......


Bit swings and roundabouts for Elon - he had a handsome bonus last Q, but his equity holding in Tesla has shed around $20B. He could have funded half a dozen Mars Perseverance type missions for that!


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