Elon musk is for crypto or just for attention to boost Tesla, SpaceX?

[Imran232]

Honestly speaking, I believed he was Elon Masque. And it's nearly impossible to predict what Elon Mask will think or do next. Because if anyone can guess, then I don't think there will be anymore elon masks. So there is only one Elon Mask because his thoughts are unimaginable for anyone. Could you remember the name of the Paypal mafia? Just think of the photo of the PayPal Mafia where there is no Elon Masks photo. So he's every big business deal, but he's on his way. So it's tough to know his vision. I thought others' opinions might be different. Thank you.

[rdbase]

So in original Elon fashion:
https://www.theglobeandmail.com/business/technology/article-elon-musk-says-44-billion-twitter-deal-on-hold/

Is he doing this so to watch the stock plunge as it is upon news of this coming out before the bell,
So to scoop it up for a cheaper (a few billion less) price?

[rdbase]

From the looks of it Musk is not satisfied on how twitter is being maintained and since the massive amount of bot accounts on the platform has basically pulled out of the deal:
https://nypost.com/2022/06/06/elon-musk-accuses-twitter-of-breaching-contract-over-spam-bots
And from a report earlier today suggests has had the financiers of this buyout stopped funding as well:
https://nypost.com/2022/06/07/elon-musks-threat-to-nix-44b-twitter-deal-reportedly-halts-financing

[rdbase]

Can not believe what I heard last night about this twitter deal cause I thought it was dead and nothing else will come of it.
But I was sorely so very wrong.

Twitter has now announced they will allow Elon Musk being the potential buyer of the company to have access to all tweets from something called a firehose API.

"After a weeks-long impasse, Twitter's board plans to comply with Elon Musk's demands for internal data by offering access to its full 'firehose,' the massive stream of data comprising more than 500 million tweets posted each day, according to a person familiar with the company's thinking, who spoke on the condition of anonymity to describe the state of negotiations," the Post wrote.
source: https://arstechnica.com/tech-policy/2022/06/twitter-reportedly-will-give-musk-the-full-firehose-of-user-data-he-demanded

More information about it here:
https://developer.twitter.com/en/docs/twitter-api/enterprise/compliance-firehose-api/overview
https://www.pubnub.com/blog/what-is-a-data-firehose-api/

So does this mean that he will be able to access all private conversations on the platform as well?

[sklopan]

I think that Elon is playing a more complex game and, in general, is supporting new technologies. It should be understood that he quite successfully uses his popularity for enrichment.

[molsewid]

I think that Elon is playing a more complex game and, in general, is supporting new technologies. It should be understood that he quite successfully uses his popularity for enrichment.

I agree, before entering crypto Elon Musk is madly in love with technology and we can't deny the fact that what Tesla is doing right now it is because of the continuous innovation and hardwork of Elon. The moment he enter crypto because it is what he wants and he is open to new ideas that could be good in the long run and will be beneficial to the world, he does not do crypto things just to gain attention.

[CryptSafe]

Elon Musk is good at his games and knows what to say and do not just that, he knows the right time to do it. He's a strong hype man for blockchain that's what everyone in the space wants to get his attention towards a project so as to Chun out something from his hype. Don't forget his always a major holder in the industry and his influence attracts investors to projects upon him talking or tweeting about it.

[rdbase]

The use of his name and companies have gone mainstream media broadcasted on prime time television promoting a scam in the form of the alt coin craze.
Elongoat coin and the creator was shown promoting it on Fox news and the so called reporter on the story was actually taking it serious.
The guy kept saying "It has utility!". If the reporter really wanted to debunk it he would of asked what kind of utility does this even have?!
They want you to invest your lifesavings into a complete scam because if anyone with a brain even looked at the chart they put up during the interview, they would of lost half their investment within the four-five months this coin had been up.

[rdbase]

It seems that every other week Musk manages to stay in the news.
But even with this attention grabbing news, I doubt he would want this kind of publicity when it comes to the headlines today.
He is being sued for his entire net worth by someone claiming him promoting a pyramid scheme with a cryptocurrency he has basically embraced and is known to condone it with accepting it as a form of payment for products from his companies in the past.
https://www.bloomberg.com/news/articles/2022-06-16/musk-tesla-spacex-are-sued-for-alleged-dogecoin-pyramid-scheme
https://www.reuters.com/legal/transactional/elon-musk-sued-258-billion-over-alleged-dogecoin-pyramid-scheme-2022-06-16
https://www.nbcnews.com/now/video/elon-musk-facing-258-billion-lawsuit-over-alleged-dogecoin-pyramid-scheme-142285381638

Class action lawsuits aren't so easy to just shake off. Just don't know what the one who is making these claims is going to do if he loses.

[rdbase]

Seems that Musk does favor dogecoin in some way or another with what he discusssed during his interview on the Economic forum in Qatar this past week:
https://www.youtube.com/watch?v=uTBeGjg4pek

Stating his companies does accept payments in this cryptocurrency for merchandise but that does not include for the actual products and services which his companies main focus are, for example buying an actual Tesla or booking a flight on SpaceX.

[rdbase]

Twitter deal seemed to have the bottom fall out and are now sueing the multi billionaire for the amount he is to pay for the company.
https://www.bloomberg.com/news/articles/2022-07-13/twitter-uses-elon-musk-s-tweets-against-him-in-buyout-lawsuit
But of course Elon is doing Elon things and making it look as if he planned it all along to play out like this:

"‘Musk’s exit strategy is a model of hypocrisy,’ Twitter argues"
source: https://www.theverge.com/2022/7/12/23205624/twitter-sues-elon-musk-acquisition-agreement

[MFahad]

He is just here to make money. He's been selling everything. Manipulated Twitter and made a bunch of money for him and his frens. Sold Tesla to "buy twitter" without causing a panic tht his company is currently overvalued. Made billions there. Now sell a bunch of Btc before it goes down 50% from where it's at now. Elon Musk has made more money than anybody in this bear market. Smart man imo

[Poker Player]

He is just here to make money. He's been selling everything. Manipulated Twitter and made a bunch of money for him and his frens. Sold Tesla to "buy twitter" without causing a panic tht his company is currently overvalued. Made billions there. Now sell a bunch of Btc before it goes down 50% from where it's at now. Elon Musk has made more money than anybody in this bear market. Smart man imo

You are right. He is certainly not a Bitcoin believer, for him Bitcoin was simply a means to an end. Like Twitter or Doge or many other things. Yes, he is certainly not a bit of a fool, what I would like is for the market not to be so influenced when he lifts a finger.

[rdbase]

There has been some talk in the reasons why his company Tesla sold almost all their holdings in BTC.
So he can pay off his lawyers fees for the Twitter lawsuit filed against him for trying to retract his ongoing bid.
On a serious note, During his Q2 conference call he mentions that they will be holding on to their doge.
He even seems to troll during these serious conference calls to his board of directors who don't know a lick about cryptocurrency.

Posted about this ongoing news subject on the other thread more along these lines of discussion located here:
https://bitcointalk.org/index.php?topic=5310742.msg60601862#msg60601862

Now we know the answer from the most recent news breaking a couple of hours ago which is causing the price to drop again after rising a bit after a 5 week slump:
https://www.wsj.com/livecoverage/tesla-earnings-q2-2022-elon-musk-live/card/tesla-sells-75-of-its-bitcoin-purchases-tgkMdMf1EHDvdniqHu8S
https://www.coindesk.com/business/2022/07/20/tesla-sold-936m-worth-of-bitcoin-in-second-quarter/
Selling 75% of your holdings and it being worth $963 million sure doesn't sound you support something that you fully believe in.

[noormcs5]

He is just here to make money. He's been selling everything. Manipulated Twitter and made a bunch of money for him and his frens. Sold Tesla to "buy twitter" without causing a panic tht his company is currently overvalued. Made billions there. Now sell a bunch of Btc before it goes down 50% from where it's at now. Elon Musk has made more money than anybody in this bear market. Smart man imo

You are right. He is certainly not a Bitcoin believer, for him Bitcoin was simply a means to an end. Like Twitter or Doge or many other things. Yes, he is certainly not a bit of a fool, what I would like is for the market not to be so influenced when he lifts a finger.

How can a personality like Elon musk do not know the potential of bitcoin? I could not believe this.
I think he understands bitcoin very well but he tweets only to get the attention or to move the market according to his trades & manipulation.

[amishmanish]

I think its great that someone like Elon musk is backing crypto, and yes he has personal interest in Dodge, but overall his support has provided positivity to crypto ecosystem. I think he is increasing his stake in crypto because he has clarity that future of crypto is bright and he also wants to be on the front seat of the crypto bus.

[Easteregg69]

Elon never had an objection in his life.

Plain billionaire damage.

Monkey brains? Stay of! I talk about scientific experiments with no respect for organic life.

You don't wanna be that modified monkey. You would repair them and return them to the zoo.

That's the whole idea. Take out the niche. This one goes out to the ones that called the police when I tried to make money.

Super name. Genesis. Elon. (Give him a golden crown and act a fool. Ludacris).

[Cling18]

I think its great that someone like Elon musk is backing crypto, and yes he has personal interest in Dodge, but overall his support has provided positivity to crypto ecosystem. I think he is increasing his stake in crypto because he has clarity that future of crypto is bright and he also wants to be on the front seat of the crypto bus.

His statement that attracts investors will also benefit him since he has a huge investment in crypto. Elon focuses on making more profit in crypto because he sees it as another opportunity to become richer. Elon's mindset only focuses on making money regardless of negative feedback from other investors. I'm sure that he's also backing up Doge as part of his profiting strategy.

[mia_houston]

I think its great that someone like Elon musk is backing crypto, and yes he has personal interest in Dodge, but overall his support has provided positivity to crypto ecosystem. I think he is increasing his stake in crypto because he has clarity that future of crypto is bright and he also wants to be on the front seat of the crypto bus.

So far we have seen that Elon Musk is indeed tweeting about crypto, especially Dogecoin, but I think he is nothing more than a businessman who does make his influence for personal gain even though in the eyes of the public he looks like someone who supports crypto, now apart from the president of El Salvador And also Michael Sailor, I personally don't believe there are people like Their who really support crypto so it can continue to grow except for personal gain, and it's even said that Elon Musk and Tesla have sold 75% of their bitcoins just because they are afraid of the consequences the covid lockdown in china and also to balance their corporate cash, so I think Elon Musk and Tesla's plan to sell their bitcoins shows that they don't really have as much faith  the future of bitcoin as El Salvador president Nayib Bukele has so far.

[OgNasty]

First and foremost, Elon is in it for the money.  That's how you become the richest man in the world.  The most amazing thing about Elon is how he's able to frame the discussion around him.  He'll have you believing he wants to save humanity by making billions from cars and soon space travel.  You have to remember this is the guy that convinced the world he was helping populate our species when he cheated on his pregnant wife to get a co-worker pregnant.  He sold his Bitcoin because he thought it was the best financial choice to make.  There is no other reason.  If he gets back in, it will be to make money.  Period.