Bitcoin surges after Musk says Tesla will resume accepting it when miners use more clean...

terzaerian

Posts: 960   +1,399
You don't game on a mining rig 24/7, some of us just spend 2 hours a day on a PC with a single card. Don't you ever compare the two.

You seem to think we are angry at people who use their PC at home to mine. I don't mind that, my beef is with all the people who get many GPUs and leave others without a chance to get one.
Then maybe gamers should stop calling for mining to be banned or for it to be classified as a mental illness, both of which happen regularly on any story mentioning crypto on these forums.

It's sad because I also disagree with GPU mining farms - I think if you have that kind of money that you want to invest in mining, you should either a) get an ASIC, or b) just buy the crypto outright and stake it because the returns are better, and mining farms also infringe on the decentralization ethos of crypto in the first place. That said, calling for government to swoop in and ban mining infringes even worse, especially as government regularly uses a sledgehammer to perform brain surgery, and casual miners could very easily get swept up in it.

Say extremist things, provoke extreme reactions.
 

Scshadow

Posts: 652   +309
You confuse price manipulation with trading on inside information. Those are two separate things.
Going back to manipulation being illegal, do we have a legal definition of what is considered manipulation or some sort of qualifying conditions to quantify market manipulation? I think manipulation is a term that can be very widely interpreted because everything that happens to the market is technically manipulating it. I would think market manipulation, at least in the sense of illegal manipulation would be dependant on a deception component and I would wonder if you have to prove an intent to deceive in order to be charged with market manipulation. An intent to deceive is real hard to prove if that is needed unless Elon admits to it.
 

Watzupken

Posts: 248   +231
And if you ask me, Musky's statement about clean energy usage by miners is very ambiguous - implying that he could change his mind in an instant. Typical Musky BS.
This is precisely the point. Unfortunately people are so desperate about getting crypto prices up after the bloodbath recently that they will react to/ claw at any pathetic news. The news says, Tesla will accept Bitcoin WHEN miners switch to cleaner energy. I don't even know WHEN this will happen and clearly not in the near future. By then Tesla may not be around, while Musk would have made a lot of money to be bothered about losing Tesla anyway. He is just using both his reputation with crypto traders/ speculators/ miners, along with the company's name (to add some more credibility) to try and move the market.
 

Squid Surprise

Posts: 4,100   +3,262
This is precisely the point. Unfortunately people are so desperate about getting crypto prices up after the bloodbath recently that they will react to/ claw at any pathetic news. The news says, Tesla will accept Bitcoin WHEN miners switch to cleaner energy. I don't even know WHEN this will happen and clearly not in the near future. By then Tesla may not be around, while Musk would have made a lot of money to be bothered about losing Tesla anyway. He is just using both his reputation with crypto traders/ speculators/ miners, along with the company's name (to add some more credibility) to try and move the market.
lol... it was only 2 years ago that Bitcoin "crashed" to just over $2000 and everyone said it was doomed... It's a currency as long as enough people believe it is - same as every other currency in the world.
 

captaincranky

Posts: 16,980   +5,757
I don't think you could consider this manipulation, he doesn't have access to hidden information, the real reason is the dumb people following everything he says and does.
He is, "manipulating" people. Granted, these are the most malleable of minds anyway.. You just can't pin "insider trading" on him, would would be overtly illegal. Point of fact, Martha Stewart did a few months at "club fed", for a stock dump she pulled off before it crashed.

The thing that Musk does, better than possibly anyone who ever lived, is talk people's wallets out of their pockets. That's his sole talent. He can't design an automobile battery pack, he's not a rocket scientist either. He's a windbag and a grifter
 

Scshadow

Posts: 652   +309
He is, "manipulating" people. Granted, these are the most malleable of minds anyway.. You just can't pin "insider trading" on him, would would be overtly illegal. Point of fact, Martha Stewart did a few months at "club fed", for a stock dump she pulled off before it crashed.

The thing that Musk does, better than possibly anyone who ever lived, is talk people's wallets out of their pockets. That's his sole talent. He can't design an automobile battery pack, he's not a rocket scientist either. He's a windbag and a grifter
I'd like to grift me a new Tesla. He must be doing something right.
 

captaincranky

Posts: 16,980   +5,757
I'd like to grift me a new Tesla. He must be doing something right.
Yes, but would you "selflessly" shoot it into space, or drive it around with greed, smug selfishness, and malice aforethought?

That said, you really don't hit the big time, until you've grifted your way into a Cessna G-5. :p
 

Scshadow

Posts: 652   +309
Yes, but would you "selflessly" shoot it into space, or drive it around with greed, smug selfishness, and malice aforethought?
I mean, if I had the means, I might shoot an extra one into space. Billionaires have done much worse when bored. I'm instantly sold on Dog Mode though. My sheltie is not happy when I leave him home. And if I could take my dog everywhere during the summer, I'd probably be pretty smug about it.