Is any chosen form of “money” any more of a “hustle” than another?
Elon’s big night in NYC turned out, not surprisingly, to be less than climactic for the Shiba Inu meme crypto coin DOGE as it was seen sinking during the show and on Sunday. A wise man once said “correlation is not causation” and yet can anyone or anything be responsible for the drop in the high flying cryptocoin other than Elon and his Mom?
In stock market lingo this was what’s known as a “date certain” event. Meaning, the entire world knew that Elon would be on SNL and would, one way or another, mention DOGE, given that he has been endlessly associated with the coin in the media, and it’s a “joke” that has to be told, if only to prove to the SEC that he is really just joking. “Look guys, I am literally on a comedy show talking about this”, he seems to be saying.
“Buy the Rumor, Sell the News”
For good measure, and to avoid scrutiny by the oversight body, he, and the writers at SNL, decided to put a negative spin on both mentions of DOGE during the show. First, in an exchange with his Mom, Maye, Musk sheepishly grins and nods after she says she “hopes it won’t be DogeCoin” referring to her Mother’s day gift.
He eventually capitulates and, after saying that DogeCoin is “about as real as that dollar” he “concedes” that “it’s a hustle”.Elon Musk, as LLoyd Ostertag on Saturday Night Live, May 8th 2021
Later, in a sketch with 100% focus on the crypto coin, the “Weekend Update” segment features Musk playing “Lloyd Ostertag” who calls himself the “DogeFather” – who is asked repeatedly “what is DogeCoin”. He eventually capitulates and, after saying that DogeCoin is “about as real as that dollar” he “concedes” that “it’s a hustle”.
While the bulk of his appearance in the segment does reconfirm and support his actual views, in a smirking and slightly deprecating way, as Ostertag”, it also underscores a deeper truth that cryptocurrencies are “as real as the dollar” (some would say more real). However, in the end, the punchline is a negative way to sweep away all of that, with a nod to Buffet, Munger and the SEC, toeing the line and insuring himself one less courtroom headache.
Was it the Day of reckoning for Dogecoin? Possible but doubtful
As of Sunday, May 9th, DOGE is hovering around .51 cents. The Muskian peak was .74 cents on May 7th. This means that, although there was a decline on the “news” that Musk would not break the SEC rules by blatantly pumping DogeCoin on live national TV, the coin is still up approximately 33% for the week, 734% for the last month and 19,446% for the last year. And, according to Elon Musk, aka Lloyd Ostertag, aka the DogeFather, it is “about as real” as that dollar in your pocket.
- Leader of Oath Keepers Convicted in January 6th CaseSeditious Conspiracy charge upheld A jury in Washington found Stewart Rhodes guilty of Seditious Conspiracy, which […]
- Love or Hate Elon Musk, The Tesla Semi is a Big Step ForwardThe December 1st launch date is good news for the climate Elon Musk confirmed, via tweet, […]
- Solutions are Available to Save the Planet: How do we get the Public to Demand them?Some of the most effective climate tech is proven and ready to roll George Monbiot, columnist […]
- Why Elon Musk Bought Twitter V3: The Tesla Phone WrinkleIn a bizarre twist Elon tweets a “threat” to sell phones if Apple or Google ban […]
- These Books take a Hard look how Climate Change & Capitalism ClashNaomi Klein’s new book is third in a venerated series on problems we face as a […]
Lynxotic may receive a small commission based on any purchases made by following links from this page
Apps3 weeks ago
Billie Eilish Strikes again on TikTok: “Slumber Party” Rehearsal (X)
Apple2 weeks ago
The Vision of Steve Jobs for the Future of Apple has Barely Begun to Emerge
Entertainment2 weeks ago
Billie Eilish makes her “secret” TikTok Debut and the content is…Wow
Apple2 months ago
Oh. So. Pro.: Apple’s new slogan for iPhone 13 Pro is both Obvious and an Infinite Enigma
Health and Diet2 weeks ago
Cider Vinegar Bitters Might Do Miracles for Your Digestion
Books4 weeks ago
Baking for Fall: Bread and Comfort Foods to Indulge the Senses
Apps1 week ago
Goodbye Twitter, Hello Mastodon!
Elon Musk2 weeks ago
Why Elon Musk Really Bought Twitter V2
Apple2 months ago
Best thing about the new Mac Studio Display? It’s Optional with the Mac Studio Desktop…
Health and Diet2 weeks ago
The Healthy Art of Fasting – It’s Not WHAT You Eat It’s WHEN You Eat
Books2 weeks ago
Alternate day or Intermittent Fasting Diets – Can they improve Strength and Stamina?
Climate1 week ago
Meet the power plant of the future: Solar + battery hybrids are poised for explosive growth