SEC investigating Elon Musk?

[Jaephoenix]

@owlest that is the problem, that Elon Musk does not care about his statements, because I do not think he does not know what he says, he is not a child, I also don't understand why Elon makes his Doge purchases and makes them public, can't he buy Doge without telling the world?. I'm glad the bet against the whales went wrong for him.

This is true. But do you see how many ordinary people present its meaning in the crypto world? For them, he is almost the main manager of the cryptocurrency. But they misjudge the situation. After all, many because of his statements have lost their investments. But I think that there is also people's fault in this, or rather, a lack of understanding of the situation.

On more than one occasion I have said that people do not stop to think about the possible consequences of their actions and do what Elon has done, investing in something that they may not even know what it is, simply because it is made by a famous person they admire. After that, when they lose their money, they remember to think.

You don't need to blindly trust a person (I don't trust myself). His actions are just choices for us. To do as he does, or not to act at all. Knowing this information, you need to think it over, but it is not necessary to act this way.

The word DYOR or Do Your Own Research comes to mind. In these days of pump and dump, especially in crypto, anybody can shill any coin as long as there is interest. The onus lies on the audience to sieve the chaff from the wheat

[Freemind]

You are right @Jaephoenix, and that's the way things should be, but there are people who do not know what DYOR is, nor do they care what those acronyms mean, they just follow in the footsteps of someone they look up to, to be like that famous and rich person, then come the dramas and the bankruptcies and broken families without economic capacity.

[Carbitcoin]

You are right @Jaephoenix, and that's the way things should be, but there are people who do not know what DYOR is, nor do they care what those acronyms mean, they just follow in the footsteps of someone they look up to, to be like that famous and rich person, then come the dramas and the bankruptcies and broken families without economic capacity.

I also completely agree with your opinion, but you need to take into account the fact that each person takes care of their own destiny and must assess their capabilities objectively. You do not need to reach for global brands if financial opportunities do not allow a person. Many people buy iPhones only for status, but in reality they cannot always afford to buy sweets for a child.

[Freemind]

@Carbitcoin the example you have given of the Iphone is perfect, and it is exactly the same. Status, gives the image of being part of an elite to which you do not belong, wanting to make the world believe that you are a successful person. I find it very sad the inability of many people to think for themselves and not get carried away by products or the words of a famous person...

[owlest]

The word DYOR or Do Your Own Research comes to mind. In these days of pump and dump, especially in crypto, anybody can shill any coin as long as there is interest. The onus lies on the audience to sieve the chaff from the wheat

This expression is known to many. But not everyone uses it. And not everyone has the knowledge to research the market. That is why many are trying to follow the lead of more advanced personalities.

[Freemind]

That's true @owlest, not everyone has the knowledge to research the market, but they have (or should have) time to learn how it works. It is normal that we do not know how something works that we have never studied, but with time we will learn. What we cannot pretend is to be experts in something without doing anything.

[MishaSER]

@Jaephoenix if Elon Musk is finally investigated by the SEC (which I also doubt), I don't think anything will happen to him either, I think he won't even care, and if he does, he won't say so publicly. At the most, Elon could be fined (if I were Elon Musk, I'd laugh at the fines) or maybe a simple warning. But I guess that will at least make Elon think the next time he tries something similar.

He probably won't care, since he has the funds to offset the fines(I don't think they would commence criminal allegations like they did MacAfee). But that would surely deter him and muzzle him a bit

Well, I see it does not affect him, he recently reported about some coin, it grew 300%, he also continues to play with the market, he recently published NFT. So it's safe to say that he doesn't give a damn)

[Raqeebzy]

There are rumors in the mill making rounds that the American Security and Exchange Commission SEC, are investigating the currently world richest man Elon Musk for his reportedly 'manipulative' tweets last month about Dogecoin. If true, do you think they have a case or is SEC trying to be a nuisance again?

Really, there might be a need to. Elon has been so much aggressive these days talking/tweeting about crypto peerless especially Dogecoin that it might need to be viewed what the motive is all about. Partially, I am not in support of this; don't really want any SEC nuisance anymore but also, Elon needs to minimize his involvement in DOGE.

[owlest]

That's true @owlest, not everyone has the knowledge to research the market, but they have (or should have) time to learn how it works. It is normal that we do not know how something works that we have never studied, but with time we will learn. What we cannot pretend is to be experts in something without doing anything.

Everything is correct. But the main conclusion is that you cannot trust someone else's opinion. And even more so, completely rely on him. Even if you are unsure of something, you need to find the truth and use this to draw a conclusion.

[Condorlaib]

That's true @owlest, not everyone has the knowledge to research the market, but they have (or should have) time to learn how it works. It is normal that we do not know how something works that we have never studied, but with time we will learn. What we cannot pretend is to be experts in something without doing anything.

Everything is correct. But the main conclusion is that you cannot trust someone else's opinion. And even more so, completely rely on him. Even if you are unsure of something, you need to find the truth and use this to draw a conclusion.

In any case, everyone understands that almost every statement by Elon Musk looks like a big bomb that somehow affects the cryptocurrency market. Of course, We should not follow and believe all these words, But each of us understands that the provoked effect can be used to our advantage.

[Freemind]

That's true @owlest, not everyone has the knowledge to research the market, but they have (or should have) time to learn how it works. It is normal that we do not know how something works that we have never studied, but with time we will learn. What we cannot pretend is to be experts in something without doing anything.

Everything is correct. But the main conclusion is that you cannot trust someone else's opinion. And even more so, completely rely on him. Even if you are unsure of something, you need to find the truth and use this to draw a conclusion.

In any case, everyone understands that almost every statement by Elon Musk looks like a big bomb that somehow affects the cryptocurrency market. Of course, We should not follow and believe all these words, But each of us understands that the provoked effect can be used to our advantage.

We know how to take Elon Musk's words, but I mean people who have no experience in crypto. There are people who have bought Doge without practically knowing what it is, for the simple fact that he has said so, and I think that is a danger, although the only ones responsible are the people who buy without knowing well how this industry works.

[elbans89]

We know how to take Elon Musk's words, but I mean people who have no experience in crypto. There are people who have bought Doge without practically knowing what it is, for the simple fact that he has said so, and I think that is a danger, although the only ones responsible are the people who buy without knowing well how this industry works.

I agree with you, I think  We should not blame Elon musk, Although He is famous person and could effect many people..As you said people who have no experience in crypto, will buy more Doge after Elon musk tweet.

[Jaephoenix]

The word DYOR or Do Your Own Research comes to mind. In these days of pump and dump, especially in crypto, anybody can shill any coin as long as there is interest. The onus lies on the audience to sieve the chaff from the wheat

This expression is known to many. But not everyone uses it. And not everyone has the knowledge to research the market. That is why many are trying to follow the lead of more advanced personalities.

… and that is why they fall into their trap. No one is perfect, or is the best brain in crypto. Even if Satoshi is around, s/he may not predict the market perfectly. If one social media KOLs are honest, they always warn you to do your research, or warn you they sre not giving you investment advice. Just like Binance's CZ does on Twitter

[Freemind]

@Jaephoenix I agree, what CZ does is encourage people to learn and not get carried away, which shows his commitment to the ecosystem but without forgetting that he has a business, Elon Musk does the opposite, shows his commitment to his will to control the Doge market, and that makes their intentions very clear.

[Astra]

We know how to take Elon Musk's words, but I mean people who have no experience in crypto. There are people who have bought Doge without practically knowing what it is, for the simple fact that he has said so, and I think that is a danger, although the only ones responsible are the people who buy without knowing well how this industry works.

I agree with you, I think  We should not blame Elon musk, Although He is famous person and could effect many people..As you said people who have no experience in crypto, will buy more Doge after Elon musk tweet.

Elon Musk helped a lot with his tweets on social networks to increase the popularity of cryptocurrency. Therefore, I treat him with sympathy, especially after his Tesla company acquired bitcoins for $ 1.5 billion.
As for the attitude of the SEC to it, everyone has the right to express their attitude towards cryptocurrency. We all do this on this forum and on social networks almost every day. In my opinion, there are no specific restrictions for celebrities.