[rvz]

Once again, they are not interested in hodling in the first place as I have said weeks ago. [0] They are interested in making money and Elon and Tesla know that they are able to move the crypto markets.

If they have already sold it, well that is the 'dump' + negative coverage / spin on BTC to pressurise the price to fall further. Now the poor HODLers at >$60K will have to wait a while until the next run up to the all time high.

One more thing in this crypto-currency episode, 'What goes up, musk go down.'

[0] https://news.ycombinator.com/item?id=27086093

[loceng]

I mean, shouldn't it be taken as a lesson that if the kids want to play with fire, an unregulated market (include MLM-Ponzi scheme structure by all accounts), then that's one type of pitfall that exists?

Elon's also publicly said, tweeted not too long ago: "Bitcoin is almost as much bs as fiat money" - so just because the markets didn't know or report on that to help provide a balanced, critical breakdown to promote balanced news - that's all Elon's fault? The mob of irrational buyers have no responsibility to know what they're "investing" in or to research and understand statements or behaviours about what they're "investing" in?

[ketamine__]

Did Elon issue a warning to the public? Did he tell them not to buy? Did he post a tweet agreeing with Munger and telling people to stay away?

He fed the fire because it helped raise his public persona. I think he does have responsibility.

[loceng]

Sure if you want to play that game - it was great of him to make it news to highlight how bad/energy intensive (for what end?) Bitcoin is. So thanks Elon.

[ketamine__]

There's a cult of personality around him.