Conning is a term used to trick others into seeing things from a beneficial perspective. The prospective seems too good to believe, so deceiving others because of a genuine belief or desperate hoodwinking attitude makes sense in the eyes of the swindler.
In today’s blog we are going to highlight Internet research currently available online for everyone to see about Elon Musk. The information in my report is to be thought provoking about what goes on throughout the world. It is better to make informed decisions while internet doesn’t contain all the answers; articles written are the way the writer sees a situation. Often content is reached via others’ assessments, so the key here is to study and try to make informed decisions.
We will look at the two BBC reports and discuss:
Tesla's $1.5bn investment in Bitcoin, revealed in February 2021, prompted a surge of demand in the currency. The price of the notoriously volatile cryptocurrency soared that year to almost $70,000 in November before crashing. From then until now it is worth approximately one third.
Tesla made a $140m (£113.5m) loss on its Bitcoin investments in 2022, according to filings. The electric car maker told the US regulator it lost $204m on Bitcoin overall, though it gained back $64m through trading.
One may conclude that there is some bullshit in this story, and this perhaps comes about from logical thinking which isn’t rocket science considering Musk is a great advocate. Personally, I find it astounding the way people manipulate facts to serve their convenience.
Musk is still promoting Bitcoin and like the majority of investors, it’s in their interest to promote it, as the better the image the more investors will plunge into the craze.
Software engineers Billy Markus and Jackson Palmer launched the satirical cryptocurrency called Dogecoin as a way to make fun of Bitcoin and the many other cryptocurrencies boasting grand plans to take over the world. With the help of Reddit, the site became an instant hit.
Well, it just so happens that Elon Musk now owns Dogecoins through his company called Tesla. However, he has tried to promote to the food chain, McDonald’s to accept its token as payment for food. McDonald’s declined the offer!
Can Dogecoin reach $10,000 per token? There is nothing to say that DOGE will not break it but it is highly unlikely. Extreme caution should be taken. Currently, there are not many predictions that say it will even break $1 in the short-to-medium term.
Many unhappy investors in the company which doesn’t go above a dollar are suing Musk to recover US$86 billion in a law suit that bewilders the mind. If they won then Musk could become bankrupt.
May I suggest we use these cases as examples of what people will do to save face in light of mistakes made.
Clearly, a person who can afford to spin yarns is able to carry it off for some time while suckers fall into a web of conceit and lies.
Have a terrific day!
Prof. Carl Boniface
Vocabulary builder:
Perspective (n) = viewpoint, perception, point of view
Prospective (n) = potential, future. The difference between prospective and perspective is all in how you look at it. Prospective is used in the context of looking ahead to what might happen in the future. Perspective is used in the context of viewpoints or the position from which something is viewed.
Hoodwink (v) = to deceive, trick, con, fool, pull the wool over somebody
Swindler (n) = cheat, shark, fraud, faker, embezzler, con artist
Satirical (adj) = mocking, ironic, humorous, sarcastic, tongue-in-cheek
Bewilders (v) = confuses, puzzles, baffles, perplexes Save face (idiom) = retain respect; avoid humiliation. "An outcome that allows them all to save face."
Advocate (n) = supporter, backer, promoter, believer, activist, sponsor
Astounding (adj) = astonishing, amazing, beyond belief, shocking
Spin yarns (idiom) = to tell stories. He was spinning yarns about his adventures in the navy.
Conceit (n) = self-importance, pride, vanity, smugness, snobbery, arrogance, superiority, self-satisfaction, bigheadedness