Fool me once Elon Musk shame on you, Fool me twice Elon Musk shame on me!

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Many LEO articles are coming out as of now just knocking the man known as ELON. Does he have a profitable business? Does he really have a 'Green' future? Perhaps it's government grants just greasing his paws. After all lithium and rocket fuel are 'green' right?

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Look let's just face the facts, guy's like Robert Kiyosaki will agree with the absurdity of it all but he will in fact take advantage of the government positions on matters. Governments are inefficient engineers who are mostly made up of the people you couldn't stand who ran for student council. They often produce nothing and cause free markets to crack in order to keep their power. Lying and playing games is the art of bureaucracy.

Elon knows all of these secrets and takes advantage of the government cronyism. Is there pollution? Of course! Can we over fish, over hunt, destroy environments? Of course! I don't see green energy sending rockets into space! However, he is just playing the game. He has proven time and time again he will manipulate markets and laugh about it.

So does bitcoin waste power mining? In a nutshell yes! I have written about this before. I own some BITCOIN and in all honesty it's always going to be the grand daddy of crypto. Right now we are at the beginning of a new phase of internet technology. We always have new concepts, new alt-coins and shitcoins. Of course we need to look at 'renewable' crypto's!

I remember I was pegging my crypto to a stable coin and the next day BOOM Elon buy's a ton of BTC. Then of course I lost and fomo'd back into the market losing a small bit of my stack. At that point I realized how vulnerable everything is when it comes to a tweet. So once again AFTER Elon dumps 10% of his stack he decides to announce to the world that we need renewable crypto's! If that isn't market manipulation I do not know what it. Let's face it, whales move the markets and he more than likely pissed off a few of his own kind.

I see a lot of maximalists in this space and I have always said diversification is key. I own a small fraction of BITCOIN, but now there's a seed planted in the minds of the plebs. It's probably a good hedge as many institutions will still use BTC. Network effects are the most important factor in the crypto space. My bet is that the game is starting to change, but diversification will always remain the key. Ethereum (POS), Cardano (ADA), and any other 'cheap' renewable crypto?

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9 comments
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I think at the end of the day you need to just do you. That move to the stable coins seems like it would have been the right move at the time. We can't know what the future is going to hold, so we just have to work with the info we have. I am slowly learning to stop second guessing myself. It is hard in this space though. Elon... What can I say. I used to respect him, but it now appears he is no better than the rest of them.

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I like Elon but his stated reason for selling Bitcoin is nonsense. He knew what Bitcoin was and how it worked when he bought it.

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Elon Musk is the cancer of crypto, manipulating the markets, abusing his influence. BUT ... Why on earth is everybody listening to a man that has proven more than once or twice that he is a big egoist. Does the existence of the crypto market, specifically Bitcoin, rely on Elon Musk's approval? Before Tesla bought Bitcoin it went fine with Bitcoin, and now we are in a super unstable market because 1 man sends a tweet about the energy consumption? And that tweet also comes from 1 man who does not seem to understand what his own SpaceX company is using on energy. And neither does he know any principles, norms and values himself. I would say, Elon start with yourself if you want to improve the world!

I hope everyone in the crypto world has now opened their eyes and the idolization for Elon Musk is a thing of the past. It is time to see that man as he really is, and that is not so beautiful at all.

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(Edited)

This is the time to buy in. POB is still strong after this rug pull. It's relatively insulated from these characters.


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That's a proof of brain, but yeah without money to buy anything ... I have to skip this round!

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Could this be manipulation and double standards on Tesla's part? In any case, a decline in the price is always good for new people to enter the market, the thing is that when bitcoin falls, very few projects are sustained and do not follow the father. Thanks for the post.

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Nice metaphor, these are hard questions, many posts out there by Pompliano and others.

Thanks,
@shortsegments
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