Networking Spotlight

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Even Elon doesn’t want Crypto for Cars (but he hyped up the idea) #tesla #automotive #cars #crypto #bitcoin #dogecoin

Awfully convenient that once Elon Musk figured out that cryptocurrency isn’t going to work out as a means to buy his cars suddenly there is an issue. Citing environmental stability regarding Bitcoin mining is ridiculous. This has been a known issue for years now. Why is it just after his Saturday Night Live appearance where he and his mom of all people flirted with hyping up Dogecoin this method of payment is put on hold? He has worked a miracle with electric cars albeit at the expense of employee safety and is pushing for the stars and Mars but his financial manipulations should be punished. When is he finally going to get busted for his pump and dump antics with his stock and now cryptocurrency?

https://www.cnbc.com/2021/05/13/bitcoin-slides-after-elon-musk-tweets-climate-concerns-suspends-tesla-acceptance.html

Crypto for your home? Umm no.

Accepting cryptocurrency as payment for selling your home is nothing more than dangerous. The short answer is good luck paying closing costs, taxes and real estate agents with the dubious currency. Consider the links below from people and news stories that should provide you with reasons not to jump on the cryptocurrency bandwagon in general let alone with real estate.

https://money.yahoo.com/bitcoin-and-housing-collide-as-home-sellers-accept-crypto-195630096.html

Charlie Munger doesn’t like it:

“Of course I hate the bitcoin success,”

https://adammoura.com/2021/05/02/some-takeaways-from-the-berkshire-hathaway-annual-meeting/

Neither does Nassim Nicholas Taleb:

https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html

You can lose money on a Tesla purchase, just ask Elon Musk:

https://www.businessinsider.com/how-to-buy-tesla-with-bitcoin-2021-3

and finally –

The founder of Dogecoin, Billy Markus created it as a joke:

https://www.yahoo.com/entertainment/guess-much-money-dogecoin-co-153526065.html

Some takeaways from the Berkshire Hathaway Annual Meeting

A Bit about Crypto Currency.

From Charlie Munger:

<< Munger, however, issued a more direct attack.

“Those who know me well are just waving the red flag at the bull. Of course I hate the bitcoin success,” he said. “And I don’t welcome a currency that’s so useful kidnappers and extortionists and so forth. Nor do I like shoveling out a few extra billions and billions and billions of dollars to somebody who just invented a new financial product out of thin air. So I think I should say modestly that the whole damn development is disgusting and contrary to the interest of civilization.” >>

Robinhood, the casino mentality.

From Warren Buffett:

<< Buffett said trading apps like Robinhood have contributed to the “casino aspect” of the stock market as of late, exploiting individuals’ inclinations to gamble.

“It’s become a very significant part of the casino aspect, the casino group, that has joined into the stock market in the last year, year and a half,” Buffett said of Robinhood. “There’s nothing, you know, there’s nothing illegal about it, there’s nothing immoral. But I don’t think you’d build a society around people doing it.” >>

For Yahoo Finance’s full coverage, click below.

https://www.aol.com/berkshire-hathaway-annual-meeting-2021-220309605.html