Elon’s SNL Hosting Gig

[SpinDoc7]

Anyone else watching Elon host SNL tonight? I was out doing yard work and thinking about skits I’d like to see: Hope they do Kate McKinnon’s alien abduction character - the twist is Elon has her test results and medical file. ?

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[DuckTruck]

2 to 1 says there's a pot reference along the way....

 

[skyote]

I just love how Lucid is buying an ad during the show.

 

[Longhorngirl]

Anyone else watching Elon host SNL tonight? I was out doing yard work and thinking about skits I’d like to see: Hope they do Kate McKinnon’s alien abduction character - the twist is Elon has her test results and medical file. ?

I am hoping he mentions Dogecoin! Dogecoin to the moon!?

 

[DuckTruck]

I just love how Lucid is buying an ad during the show.

That is a brilliant move on their part. I'm guessing we won't be seeing one for the Badger or Endurance, though.

 

[Longhorngirl]

I am hoping he mentions Dogecoin! Dogecoin to the moon!?

Oh forgot. CCIV to the moon as well! It is the Lucid spac.

 

[txtravwill]

I am hoping he mentions Dogecoin! Dogecoin to the moon!?

feel bad for peeps when this literally joke infinite supply coin tanks. Literally 10,000 per minute each block, ug.

 

[Longhorngirl]

feel bad for peeps when this literally joke infinite supply coin tanks. Literally 10,000 per minute each block, ug.

Agreed! These meme stocks have epic pumps followed by epic dumps. This run is like what happened to GME earlier this year.

 

[thrill]

feel bad for peeps when this literally joke infinite supply coin tanks. Literally 10,000 per minute each block, ug.

It's gotten a little crazy. A buddy called me the other day, having found out his teenage son had put his savings account into Doge, a grand in total ... two years ago ... worth $1.2 million now. That'll buy, what, two sets of black 20" wheels? Geez.

 

[txtravwill]

It's gotten a little crazy. A buddy called me the other day, having found out his teenage son had put his savings account into Doge, a grand in total ... two years ago ... worth $1.2 million now. That'll buy, what, two sets of black 20" wheels? Geez.

Depends on what exchange he is using and ability to sell, liquidity is not the best for DOGE and while the market cap may sound like a lot, the value can drop fast. If you had a $1M "value" now, I'd say in a plummet and sell on market could net you $100K+ at least.

 

[thrill]

Depends on what exchange he is using and ability to sell, liquidity is not the best for DOGE and while the market cap may sound like a lot, the value can drop fast. If you had a $1M "value" now, I'd say in a plummet and sell on market could net you $100K+ at least.

His Dad is braver than I - he said he was going to tell him to take his $1000 out and let him decide what to do with the rest.

 

[DuckTruck]

I'm old-school enough that I still listen to Warren Buffett. So far, it has served me well. When he said, “Cryptocurrencies basically have no value and they don't produce anything. In terms of value: zero”, I listened. Earlier today, several of you called me out for wanting a paper copy of an owner's manual in a new vehicle, our Rivians. Clearly, I cling to the old ways.

Admittedly, I'm a dinosaur. But can anyone point me towards a good primer on why cryptos are anything other than gambling at this point? I'm not asking for a treatise as to why precious metals are arbitrary in value. I have thousands of years of material to support their valuations. Neither am I looking for an explanation as to why the stock market is risky. Of course it is! I'm looking for something, anything tangible about vapor bucks, cyber money, or cryptocurrencies; whatever some marketing genius chooses to call them. I really want to know what they're all about and why they're the wave of the future. Talk me into it, and I will make the bet/investment.

p.s. My Dad taught me well. When I was a kid, he told me "Never, ever gamble! Stick to Poker!" So far, investing in cryptos seem like trying to draw three cards to an inside straight. I have better odds of Sofía Vergara leaving her husband for me. At least statistcally....in my mind.....Oh, never mind....

 

[McRat]

Crypto investments are only worth anything because demand exceeds supply.
But many stocks out there aren't much different. There can be $10 billion of true valuation of a public corporation whose stock is valued at $100 billion. So $90 billion of that is effectively worthless. It might as well be bitcoin.

Case in point. GM has over 4 times the assets, 20 times the profit as TSLA. Tesla's market cap is 8 times GM's.

 

[DuckTruck]

Crypto investments are only worth anything because demand exceeds supply.
But many stocks out there aren't much different. There can be $10 billion of true valuation of a public corporation whose stock is valued at $100 billion. So $90 billion of that is effectively worthless. It might as well be bitcoin.

Case in point. GM has over 4 times the assets, 20 times the profit as TSLA. Tesla's market cap is 8 times GM's.

You had me at "Crypto investments are only worth anything because demand exceeds supply." I know there are those types of similarities to the stock market, but I'm looking for what that demand is backed by. What, if any, asset is attached to a crypto currency. What are they "mining"? If a company with property, machinery, and other tangible assets goes belly up, there are bones to be picked over and sold.

Even though Tesla has a huge valuation, that valuation is based on their anticipated future success in producing more of the same tangible products they currently use their assets to build. There are, generally, some hard assets associated with that company and the product or service they are building or providing. With Tesla, they have sizable property holdings and, more importantly, valuable intellectual properties and brand capital that could be worth a bunch to a competitor. With cryptos, I don't see those types of assets. In fact, I don't see any assets.

I'm not trying to be a naysayer, I'm just trying to find out why, other than betting, is anyone interested in investing their hard-earned savings into one of these things? If people are using discretionary funds to invest in these companies, so be it. Then, it's just like gambling to me.

 

[SpinDoc7]

As to SNL, Elon was more reserved/subdued than I thought he’d be, but he did a good job hosting, I thought.

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