Bitcoin Forum

Every action has a reaction. Was this Bitcoin story a last straw for somebody, I don't know, but the SEC warning is from last year, so why now this news:

Business Insider: The SEC told Tesla twice that Elon Musk's tweets violated court orders requiring preapproval from company lawyers (https://www.businessinsider.com/tesla-elon-musk-tweets-sec-says-violated-court-order-markets-2021-6)
WSJ: Tesla Failed to Oversee Elon Musk’s Tweets, SEC Argued in Letters (https://www.wsj.com/articles/tesla-failed-to-oversee-elon-musk-s-tweets-sec-argued-in-letters-11622582765)


I guess that sooner or later somebody will have to pay for his big mouth. Again.

The clown won't be able to do what he wants forever. Sooner or later it will be payback time. Imagine how many people lost money due to his foolish tweets. A clown remains a clown, even if rich. A lot of you guys are smarter than him, only if you could realize it.

I don't understand why he hasn't been punished already. If he knows this and he violated what was not suppose to be done, I believe he should be punished immediately for his tweet that violated the law. I hope this will be implemented because this guy did cause a lot of pain to people's investment and I too believe his arrogancy will get him in huge problem soonest. 

Elon is taking people's money with his tweets. I think this should be considered a crime. As manipulation should be a crime. I hope someone gives Elon the punishment he deserves.

Hey, he has been under the spotlight for market manipulation before and now he is back to his old tricks. This time he is using clever tricks to hide his agenda. (Saying things like... "I am looking for a Shiba Pup.." ).... to trigger people into buying Shiba coins. The SEC will have a hard time penalizing him, because the tweet has a double meaning and he will just deny that it had anything to do with Shiba INU.  ::)

In any way, when you have loads of money... you are in a position to hire a army of lawyers to represent you, if they want to take this to court.  :(   

Market manipulation is not that easy to prove and Social media tweets are open for interpretation.  ::)

He intentionally manipulates the market because he has powerful capital, reputation and big followers. He wisely knows the crowd are stupid and watch over his tweets.

The crowd, on the other hands, can not blame on Elon for their stupid reactions. They can blame when they react to a tweet from Elon with a smiling dog animation. Be stupid, be greed and buy at tops. Stuck there and blame on Elon. They should not wipe out their own responsibility like that.

Yes. When Elon manipulates the market up, people are happy but they don't tell any Thank you to Elon. When the market is down, they blame on Elon.

I don't like Elon morally but I don't support the crowd.

Initially though the tweet of Elon Musk is considered trolling, but when he touches serious subject like the effect of bitcoin's consumption or the energy it needed and then the impact of it in the market, I think someone needs to step up and tell Musk to shut the f**k up.

Or maybe twitter itself should ban Musk already, like what they did to Trump so that their platform won't be used by Elon to his advantage.

Well, you are a stupid person if you are basing all of your investment in a Tweet as if that's the new way to source out news and important events. He didn't took away any money, the people decided to invest, it wasn't his fault that they have fallen for it. Go ahead punish him for market manipulation, didn't decentralized don't like authorities imposing infractions? But the moment that stupid people falling for market manipulation in a decentralized market, suddenly it's alright for authorities to get in?

Consequently from the psychological reaction, I try to not become a tutor or advisor for my relatives about cryptocurrency or other financial games. I am not selfish but they will blame on me with their loses. They are lazy and rely on my words and they will misunderstand my words as well. Their dependence will only end with loses in long run and I will only be accused by them.

Musk is not innocent but the crowd can not blame all things on Musk. Smart people will use the tweets from Elon to get money and run quickly. Victims are people who over believe in Elon and keep their positions open for long. Musk will flip his tweets and the followers will be stucked if they are slowly in reactions.

I wish. Though it's mostly the people's fault on why his Tweets heavily affects the market in the first place, his Tweets definitely do add a significant amount of unnecessary volatility to the markets in general. But seriously, we wouldn't need the SEC to go after him if only people in general stopped impulsively making trading decisions off his Tweets.

Very true. Sadly.


That's correct. Unfortunately the world is.. how it is, not how we wish it to be...

There is not a word in these articles about what EM has been doing in the past few months regarding crypto, and journalists have obviously recycled some old news and published it this way because they know how much interest there is in EM and everything related to it.


Even if the SEC fines EM again, we all know it will be a fine again - and the total $40 million he paid a few years ago is a figure he just laughs at - let’s be honest, people who have hundreds of billions can pay such fines every month for life. I'm sure EM knows this very well and that's why he behaves so arrogantly and irresponsibly - money can buy everything, especially responsibility from one's own actions.

Hes so crazy. Maybe from the start his tweet about crypto was based on high confidence, yes, he was sure he could control the crypto world with a big name. Hes panicked all crypto users and took a chance there, he thought this would forever go as he planned?
People will learn from all this and no longer be trapped by it.

I was expecting a reaction from SEC,in response of the irresponsible social media behavior of Elon Musk.
The Security and Exchange Commission reacted too late(again).
Elon Musk owns less than 25% of Tesla.The company has other shareholders and Musk should be held responsible for dumping the Tesla stock prices due to his market manipulations.
Dogecoin is a joke and Musk should be punished for promoting an obvious shitcoin.

So many people were expecting SEC to do something about Elon Musk's tweets. And finally, SEC has decided to take action on this subject. It looks like Elon Musk could be in trouble. I hope that this action could help this market to be manipulated much less than before.

Dogecoin was a very funny coin. I've liked it a lot and even promoted it for years. But Elon Musk turned it into a piece of sh!t. It's not funny anymore, it's only a billionaire's toy and I refuse playing with a clown! I've sold my last Dogecoins to BTC last month and I don't want to hear about this bad joke anymore. Musk is a greedy egocentric clown.

Serves him right. That's clearly a market manipulation in a broad daylight. Glad the SEC do something about it.
If only the people stops following what Elon says in his Twitter account, he might have shut his mouth up long ago after the first try.
Now that everything in the crypto market is falling, Elon isn't the only one to blame, but also the people who has been following him and dumped right after the Bitcoin energy consumption issue that Elon tweeted.

But, there is nothing new when it comes to the SEC's decisions, so there is no actual last straw.

Besides, if people think Musk will be penalized for his tweets about Doge and Bitcoin that will happen after we colonize Mars, Musk was supposed to stop any tweet about Tesla's business practice or plans without consulting with the companies lawyers, his actions about anything else coins, gold, the war in Syria and not going to be analyzed by the SEC. People hype and trash gold all day, nobody is going to be punished for doing that or for posting doge moon pics.

And I'm willing to bet it won't take long for Musk to make fun of those two new charges and mock the SEC once again, he doesn't care about them, he knows that if he doesn't cross the line in a radical way and involve himself in clear market manipulation and profiting from that he will just pay a few fines and that's all.

Nobody will be able to shut him up, the only way is to make people stop listening to him, but if they DO want to listen to him, then how are you going to stop that without taking a dump on a lot of things like freedom of choice?

That's pretty unfair don't you think that whenever our interests are good, we want SEC out of our hair but then when it's a big fish trying to do the same thing that we do which is doing what's best for their interest, we want SEC to help us?

This was my dilemma. If it's basically old news, why they were published now? Were the journalists so much out of better topics or is there an intention somewhere for this story?
And that's why I thought that maybe it's supposed to be a warning from somebody powerful and annoyed by these tweets.
Or maybe I'm overthinking it  :)


LOL! Maybe only indirectly for crypto, but indeed, the focus will be on TSLA shares and such.
And also, the fines are as big and effective as a mosquito bite for an elephant.


Well, SEC fines are not necessarily for shutting him up (one cannot argue with the freedom of speech). They should be more a wake up call for the herd to stop following his every move.

Yeah, way too much overthinking!
If that entity or person was that powerful he would have relayed a message through different channels not leaving a trace that would have linked him to that journalist, really powerful people are not stupid when they want to stay hidden, we're not talking about the usual puppet show they do for the masses.
The WSJ just reached to the SEC to ask if they have indeed taken action against him, and the SEC responded, we've done this and that and we haven't actually done anything. Articles like these won't scare Musk at all, especially since they tell what he knows, that there isn't much they can do about it.


Does he look like the guy concerned about the price of Tesla's shares?
Common, the guy is pure troll material, he would rather see the stocks fall to 1% than shutting up!

As for the herd, I think that the same 1% applies here, with less than that actually owning a tesla or tesla shares, and if the herd wants to follow him, that's their choice, if the herd proves too powerful and numerous and dumb it means the world is fucked up and we're going to have to deal with it.

Since the crypto markets are unregulated the Sec and his lawyers shouldn't have any say.   case tossed.

And do you really think that the USA gov would allow a National Strategic Asset like Elon Musk who puts more rockets in to orbit then the rest of the planet combined to fail? or even be censored much?

My thoughts! :) Elon Musk is too big too fail. If Tesla now starts mass producing cars, builds its plants around the world (Germany, I think Australia for batteries), the US gov wouldn't intervene. There was a situation where Silicon Valley was threatening to leave and all discussions (not sure what the case was) quickly died down.

should there be such a severe penalty just for tweeting? I don't think Elon Musk wouldn't easily accept a report that would destroy his credibility in the eyes of the world just because of a tweet issue. As for the impact of his tweet, isn't the follower executing?

Despite the truth and ambiguity of the news, I am still in no mood to comment further. because I'm not the one to judge something without final proof.

Which is why I am note entirely a big fan of this double standard. This shouldn't only be an issue when it is going our way.

This makes me remember about John McAfee's the same attitude during the 2017 bull run. Well, for sure that there's really someone has to pay with all of this. At first it's the people that had paid him well because for sure that he did his thing during those hypes.

But this time, I think that he's going to lie-low for a while or he'll show that no one can stop him manipulating the market but I agree on this as well:

I always thought Elon was a real clown, I don't like him. A man who has a lawyer's education and went to business school suddenly climbed into space and makes electric cars. No... it's just a pawn in such companies, it's a man of "marketing" who's already clearly crazy and likes to manipulate the market to entertain himself and people. Moreover, it is still unclear whether he has sold bitcoins that belong to Tesla or not

Some weeks ago I created a thread about Tesla and market manipulation, and looks like it will become a serious topic. The way that he managed his social networks has a big influence on the markets, and that kind of manipulation is totally illegal. Now we will see the consequences of his acts.

If Trump tweets affects a nation I think a tweet who affect the markets is more dangerous. Maybe Musk gets his accounts closed just like the SN did with Trump. Let's see what happens.

Are you blaming Elon Musk for cryptocurrency price drop? You are funny. Google China and Bitcoin news and read what they did 1-2 weeks ago.
He did not create hype and fud. He just wrote a tweet and greedy people have created fud.
Why Tesla should be punished? They are already getting punished with their investment cost less than they invested. You think Musk makes his company worse on purpose?

Musk's punishment has not been commensurate with what the public feels for his actions. People like him, will not feel a loss if they only lose $100 million, unlike people who have bought DOGE because of FOMO, they have a bigger loss because the total assets they have are not as big as Musk's assets.

Imagine this happening to everyone who is in cryptocurrency, isn't this a crime of robbing in a more elegant way? And we all agreed it was a breach by Musk.

As far as I know, the people aren't asking for a total involvement removal of the SEC. It's just that the SEC shouldn't be restricting innovation(as with Bitcoin and cryptocurrencies), not necessarily that the SEC should also leave pump and dumps run freely.

if its  possible that someone can give him a punishment for what he have done on the crypto market.. For sure most of those ppl who lost money will be happy.. But the question here "is that possible?".. Because you know there's a bunch of whales and took a lot of money before elon's exist on this world that full of opportunity, but ever since before i don't see a news that there's are some of the whales received a punishment because of how the way they took money in the market like elon's and always a lot ppl lost money as well..

That is very true but the actual blame is still on the person who broke the law, the same law that dictates market manipulation is illegal and is punishable by law. You still can't blame people who fell for the manipulation, you blame and prosecute the manipulator.
Keep in mind that things like this is not "people trusting FUD and panic selling" it is about market manipulators that find an opportunity (the FUD) and start manipulating the market, for example dump big amounts on different major exchanges to push the price down artificially and cause panic. Otherwise a tweet alone will never affect the price ever. Then newbies who fell for the FUD see the downtrend and follow it by selling at a loss and making the drop bigger.

Elon tweets again mentioning bitcoin. With a bad mention. Does anyone else doubt that the man is fucked? He probably has bipolar disorder, he sometimes has a beneficial effect, now a negative, stupid man... but I was pleased that Justin Sun commented  the situation that he would buy up all the bitcoins that the Elon would sell

https://i.postimg.cc/6pjjXDj1/Kds-Oxpcbju-A.jpg (https://postimg.cc/21WFdXf4)

only big people and influential rich people are free to express their ideas..maybe Elon will be safe and nothing will happen because many people follow him..

I really support if this happens but twitter until now has not done that...

Elon angered a lot of people with his tweets that manipulated the market, a lot of people lost money. worries in the market won't go away if Elon's Twitter account isn't banned.

Finally someone has heard our voice.  ;D  I hope that SEC could do something about this problem for real. He is really getting on my nerves. He did his manipulation again last night. Someone must put an end to this.

The thing is just that there are quite a lot of people who don't do their research and do not also believe in the network, this are the sort of people that are moved to action when Elon or any other prominent individual makes a tweet or comment about Bitcoin, thus imo, it's not really that much of a big problem for users who understand the network and know quite well that such manipulations can only be sustained for the short term. If people really want to be part of the network, then understanding it's tenets is a must, the SEC can't bring this type of manipulation to a complete end, it's the individuals in the network who can.