BITCOIN

jjmmww1

Scottex99 said:

jjmmww1 said:

Not to do with bitcoin but managed to sell my First NFT yesterday for 27x what i paid for it and i didn't like them to star with but i guess it was a lucky buy

Haha nice. I keep meaning to do some research on NFTs but I can't really be bothered, think I have some art ones I paid a few ETH for somewhere. 

Collectibles within games could be pretty cool for it

yeah i'm not really in to them either but it was a mystery box NFT on one of the platforms i use so got 5 sold 1 and will hold the rest and hope something good in them

Scottex99

Not shilling for the cash but by all means have a dabble if you like and definitely worth watching me awkwardly reading my lines in the video, haha.

FTX just closed a 900m investment yesterday too. Plenty of money around and a lot going in to crypto.

https://www.crowdcube.com/companies/digital-asset-management-dam/pitches/Z1X5gl

HardCoreProgrammer2

Bitcoin price up again after Elon Musk says that Tesla *may* accept it again for payments.
This is becoming a farce. The cynical side of me suspects that the he has decided the price has fallen enough and has filled his boots, so now time for pump and dump again.

Perhaps the US equivalent of SFO may want to look a bit more closer into his side hustle and whether price manipulation is taking place? Or is it perfectly to do all this because this is an unregulated "financial product"?

Malthusian

If Musk bought shares in his own company and then made an announcement to drive the price up, e.g. inventing an imaginary takeover bid, that would be securities fraud - and he has been successfully prosecuted for exactly that (he settled with the SEC).

My understanding however is that crypto is not regulated by the SEC, and if bros want to sell tokens to Musk and then later give him more money to buy them back, that's their own lookout. 

I am not sure if Musk's knowledge that he is about to make a statement on accepting Bitcoin counts as insider trading. The effect of him making an announcement could be cancelled out by the Chinese having another crackdown or just a general selloff with no particular cause. 

MaxiRobriguez

Malthusian said:

If Musk bought shares in his own company and then made an announcement to drive the price up, e.g. inventing an imaginary takeover bid, that would be securities fraud - and he has been successfully prosecuted for exactly that (he settled with the SEC).

My understanding however is that crypto is not regulated by the SEC, and if bros want to sell tokens to Musk and then later give him more money to buy them back, that's their own lookout. 

I am not sure if Musk's knowledge that he is about to make a statement on accepting Bitcoin counts as insider trading. The effect of him making an announcement could be cancelled out by the Chinese having another crackdown or just a general selloff with no particular cause. 

He knows what he's doing.

He apparently was going to stop taking Bitcoin payments due to the environmental impact.

What's changed since in that regard to warrant taking them again? Nothing, only that the price has fallen enough that a media story pump will budge it up a few pc points again.

Frequentlyhere

MaxiRobriguez said:

Malthusian said:

If Musk bought shares in his own company and then made an announcement to drive the price up, e.g. inventing an imaginary takeover bid, that would be securities fraud - and he has been successfully prosecuted for exactly that (he settled with the SEC).

My understanding however is that crypto is not regulated by the SEC, and if bros want to sell tokens to Musk and then later give him more money to buy them back, that's their own lookout. 

I am not sure if Musk's knowledge that he is about to make a statement on accepting Bitcoin counts as insider trading. The effect of him making an announcement could be cancelled out by the Chinese having another crackdown or just a general selloff with no particular cause. 

He knows what he's doing.

He apparently was going to stop taking Bitcoin payments due to the environmental impact.

What's changed since in that regard to warrant taking them again? Nothing, only that the price has fallen enough that a media story pump will budge it up a few pc points again.

I mean, maybe, but what's his incentive? It's a pretty darn visible thing to do and so much against the spirit of the law that lawmakers may seek to punish him another way.

That, plus he's obviously incredibly loaded and busy anyway. I think it's just all one big power ego trip. What a twonk, either way.

Adyinvestment

MaxiRobriguez said:

He knows what he's doing.

He apparently was going to stop taking Bitcoin payments due to the environmental impact.

What's changed since in that regard to warrant taking them again? Nothing, only that the price has fallen enough that a media story pump will budge it up a few pc points again.

He freely admitted he is a pumper and not a dumper, also that he has Bitcoin in Tesla and SpaceX and also personally (along with Ethereum and Doge)

With the China clampdown (which I think is a great thing and not at all negative) Bitcoin mining has been getting more environmentally friendly, a report puts it at 56% renewable which is above the 50% Musk wanted for Tesla to accept it.

I don't like him, but from an investment point of view if he wants to tweet how amazing Bitcoin is for a few month's I will be well happy!

Scottex99

Adyinvestment said:

MaxiRobriguez said:

He knows what he's doing.

He apparently was going to stop taking Bitcoin payments due to the environmental impact.

What's changed since in that regard to warrant taking them again? Nothing, only that the price has fallen enough that a media story pump will budge it up a few pc points again.

He freely admitted he is a pumper and not a dumper, also that he has Bitcoin in Tesla and SpaceX and also personally (along with Ethereum and Doge)

With the China clampdown (which I think is a great thing and not at all negative) Bitcoin mining has been getting more environmentally friendly, a report puts it at 56% renewable which is above the 50% Musk wanted for Tesla to accept it.

I don't like him, but from an investment point of view if he wants to tweet how amazing Bitcoin is for a few month's I will be well happy!

Yep agreed, not well liked in Crypto after all his shenanigans but it is what it is. There's is zero chance that he/Tesla didnt know the environmental impact of a SOW coin such as BTC before they invested 1.5bn.

Clearly an insanely smart guy and knows how to make money, his team must be telling him to take it easy on the market manipulation stuff haha.

The fact that his Tweets can have such a big (perceived) impact on the price/market is never going to be good but I think that'll reduce as corporations pour money in and DeFi starts eating the world 

Adyinvestment

I have noticed the negative news stories have been trailing off the last week or so, being replaced by more positive ones. Large financial institutions last week bearish and this week the same ones a little bullish.

Now, if you believe in market manipulation...

Thrugelmir

HardCoreProgrammer2 said:

Bitcoin price up again after Elon Musk says that Tesla *may* accept it again for payments.
This is becoming a farce. The cynical side of me suspects that the he has decided the price has fallen enough and has filled his boots, so now time for pump and dump again.

Perhaps the US equivalent of SFO may want to look a bit more closer into his side hustle and whether price manipulation is taking place? Or is it perfectly to do all this because this is an unregulated "financial product"?

Under the skin. No different to Bezos. Who thanked the employees and customers of Amazon for funding his space flight. American Exceptionalism at it's most extreme. Hopefully Biden will burst the arrogance bubble of these a********* once and for all.