Video purportedly from Anonymous threatens Elon Musk over his crypto manipulation tweets

midian182

Posts: 6,798   +61
Staff member
WTF?! Elon Musk has the power to send cryptocurrency prices crashing or skyrocketing with a single tweet, and some people are unhappy about how he uses this power, including, it seems, Anonymous, which just posted a threatening video aimed at the Tesla boss. But is the hacktivist group really responsible?

Elon Musk and Tesla helped Bitcoin reached record levels this year. The company in February announced it had invested $1.5 billion in the crypto and would soon be accepting it as payment for its products. By April, BTC peaked at just under $65,000.

But the relationship soured last month when Musk said Tesla would stop accepting the crypto as payment due to the environmental impact of mining. He also hinted that the EV giant had sold its Bitcoin holdings but later said this wasn't the case.

Having already helped push Bitcoin down to pre-Tesla-investment levels, Musk was at it again on Friday, tweeting more posts about breaking up with the crypto and its declining value.

On Saturday, the same day BTC's price fell to around $34,800, a group claiming to be Anonymous posted a video on YouTube slamming Musk for being "another narcissistic rich dude who is desperate for attention."

"It seems that the games you have played with the crypto markets have destroyed lives," the narrator states, adding that the billionaire's recent tweets have a "clear disregard for the average working person."

There is a big caveat here: while the video does look like those previously put out by Anonymous, the group's most popular Twitter account, YourAnonNews, claims no responsibility. Another account, @BscAnon, also insists the video is not from them. However, @YourAnonCentral, a Twitter account with 5.9 million followers that claims association with Anonymous, says the video really is from the group.

As reported by Forbes, the most telling indication of the video's official authenticity is its absence from the Anonymous Official YouTube channel.

The person in the video says Musk's "public temper tantrums" have resulted in hardworking people seeing their "dreams liquidated." It ends with the following warning: "You may think you are the smartest person in the room, but now you have met your match. We are Anonymous! We are legion. Expect us."

Even if the video isn't the real deal, there are plenty who hold similar views about Musk's influence. "I'm not comfortable with any one person or small entity being able to manipulate the market. I guess that's where we are in crypto right now," said Michi Lumin, a Colorado-based developer who helps maintain Dogecoin, which has also seen its price fall and rise though Musk's actions. "It's not great, that's for sure."

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Kosmoz

Posts: 204   +324
I was unaware that using a bot via a computer to buy up all the GPU's you can and then having a bunch of electronics crunch a bunch of numbers for funny-money is "hard work".

When do the seltzer sprayers come out in this clown fight?
Can you be more ignorant?
They are not referring to miners, but to hardworking normal people (although gullible) that have normal jobs who invested in cryto like in the stock market, the "classic" way and lost their money...
 

terzaerian

Posts: 923   +1,323
Musk's ability to manipulate the price of BTC is continuing to decline; his latest sh*tstorm has only sufficed to hold the price in a parallel range. Regardless Anonymous should calm it t*ts; prices swing, the world goes on, as does the blockchain.

Meanwhile, El Salvador has declared BTC to be legal tender, with Paraguay eyeing doing the same next.

Musk should really spend more time propping up his failing go-cart company instead.
IMO, the biggest crypto joke these days besides the fact that people listen to Musky and let him drive the market, seems to be the adoption of crypto as legal tender by some countries - https://www.thestreet.com/crypto/bi...araguay-calls-for-making-bitcoin-legal-tender
As I see it, this is a big gamble. Perhaps these countries want to go broke faster???
If they wanted to go broke faster they'd buy more USD.
 
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kapital98

Posts: 352   +294
Yeah but most people aren't with you.

Almost no "working man" has a clue what digital currency is. Let alone Bitcoin. Nor do they know anything about monetary theory and categorization of "money" (M1, M2, M3, etc).

For better or worse, this is a tiny industry that is happy to accept Musk's boosting but feels harmed when they lose money due to his erratic behavior.
 

terzaerian

Posts: 923   +1,323
Almost no "working man" has a clue what digital currency is. Let alone Bitcoin. Nor do they know anything about monetary theory and categorization of "money" (M1, M2, M3, etc).

For better or worse, this is a tiny industry that is happy to accept Musk's boosting but feels harmed when they lose money due to his erratic behavior.
Does a person exist that welcomes harm from others but scorns help? Besides sadomasochists.

It's childish to get mad at a technology like Bitcoin when the price goes down, yes, but Musk isn't a technology, he's a person with his own free will. Accordingly, it's not irrational to get mad when he uses it foolishly.
 

wiyosaya

Posts: 5,943   +4,204
If they wanted to go broke faster they'd buy more USD.
Crypto is nothing but volatile at this point, and it remains to be seen what its future pricing trends are. However, if there were a security to really compare to it, I'd say that its in the junk bond category or day trading, IMO.

About the only reason that US currency would become worthless is because of some major and unexpected change in the US government. Aside from the remote possibility of a coup attempt succeeding by someone like Trump, I see such as highly unlikely to happen, and IMO, US currency is far more stable than crypto. Unlike US currency, crypto has many more avenues to worthlessness, as I see it.
 

terzaerian

Posts: 923   +1,323
Crypto is nothing but volatile at this point, and it remains to be seen what its future pricing trends are. However, if there were a security to really compare to it, I'd say that its in the junk bond category or day trading, IMO.

About the only reason that US currency would become worthless is because of some major and unexpected change in the US government. Aside from the remote possibility of a coup attempt succeeding by someone like Trump, I see such as highly unlikely to happen, and IMO, US currency is far more stable than crypto. Unlike US currency, crypto has many more avenues to worthlessness, as I see it.
You say that while there is a non-zero chance you'll participate in a thread today on this very message board bemoaning the 4-figure prices of GPUs.

That situation does not exist because of crypto; miners may exacerbate the situation but they are not the root cause. The root is the decline of the dollar and the economic crisis precipitated by the pandemic, the worst of which we have yet to see.

If you want to scorn the life preservers thrown to you, so be it. Hope you enjoy swimming.
 

kapital98

Posts: 352   +294
Does a person exist that welcomes harm from others but scorns help? Besides sadomasochists.

It's childish to get mad at a technology like Bitcoin when the price goes down, yes, but Musk isn't a technology, he's a person with his own free will. Accordingly, it's not irrational to get mad when he uses it foolishly.
I admire your attempt at rhetoric.

But it has nothing to do with your original post or my response. Thx.
 

fl21289

Posts: 242   +290
Sooner or later, I bet that laws will be enacted regulating crypto in the US.
Wrong again. You can't regulate something you can't control... The only regulations they will put is on peoples banks. That's the only thing the US can control. And if the crypto market is within the US they can force them to report to the IRS how much they profit. But Crypto won't be regulated by the SEC or US. At least, in my state of Florida. You can now pay taxes and fees using Bitcoin :). Hence, why so many companies are fleeing some blue states and coming down here.
 

bviktor

Posts: 407   +724
The sooner it becomes illegal for corporations to accept payment from these bullshit currencies the better. Primarily because they are an environmental disaster and secondarily because I'm so sick of hearing about them.
Not all coins are "environmental disasters", only proof-of-work and proof-of-storage coins. For example, consensus-based Stellar XLM's carbon footprint is way smaller than even that of the VISA network, while the transactions are instant and virtually free.


If you want stability, you can use stablecoins on the Stellar network, like BUSD or EURB.

People need to let go of the tired idea that crypto = BTC. BTC is not a currency per se, as it'll never be practical to use it for payments. It's an investment, an asset, and that's about it.

There's nothing inherently wrong about crypto. More and more promising alternative payment methods are popping up. My money's on Stellar (yeah, quite literally).
 

Lew Zealand

Posts: 1,817   +1,978
TechSpot Elite
"Anonymous"/whiny babies: Volatility's only good when <thing> goes up, wahhh it's going down

People with brain: How did you even get money in the first place?
 
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terzaerian

Posts: 923   +1,323
Wrong again. You can't regulate something you can't control... The only regulations they will put is on peoples banks. That's the only thing the US can control. And if the crypto market is within the US they can force them to report to the IRS how much they profit. But Crypto won't be regulated by the SEC or US. At least, in my state of Florida. You can now pay taxes and fees using Bitcoin :). Hence, why so many companies are fleeing some blue states and coming down here.
Well, that's not to say they won't try, and in the attempt they will likely do a lot of damage and cause a lot of pain, along the lines of how the DMCA is a constant menace to YouTube content creators. If the federal government excels at one thing, it's crushing regular people into the ground while insisting it's working on their behalf.
 

MaxSmarties

Posts: 491   +290
I don't like musk behavior too, but in this case I really don't care.
I'm looking forward to the crash of crypto currencies...