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When I saw the Twitter poll drama re/ Musk selling, the first thing that came to mind was Charlie Lee selling his Litecoin at the height of the 2017/2018 bull r

When I saw the Twitter poll drama re/ Musk selling, the first thing that came to mind was Charlie Lee selling his Litecoin at the height of the 2017/2018 bull run, before it went down 90%. It also came with a PR stunt on Twitter about there being a conflict of interest, being the right thing to do, etc. Musk's Twitter stunt had the same smell to it. How it will end remains to be seen.

mrgordon 5y ago
Yes Charlie Lee even said after selling that people should be careful investing in Litecoin at those high prices which caused a major crash in the price. It still amazes me he was able to both sell at the top and crash the price without any legal ramifications.
- colecut 5y ago
  Every coin went down substantially, many alts dropped over 90%... it's hard to pin that on Charlie because of his comments on litecoin.
panick21_ 5y ago
He used most of that money to vest his options. Sure he could have just borrowed against the stock and vested this options. At that time there were constant articles and accusations that billionaires used the 'borrow against stock' trick to avoid taxes. This was addressed to Musk in multiple high profile interviews where he had to justify that. Had it come out at that time that he vested lots of option with additional borrowing, there would have been a huge media outcry against him. Of course then when he did sell the stock to vest the options. He got shit on because it dropped the stock price and tons of articles were written about how he was manipulating the stock price. And now your story is that its because he knows of the coming crash and wants to get out. So the moral of the story seems to be, it doesn't matter what you end up doing, you will get shit on an equal amount no matter what you do. Being a a very public billionaire willing to talk about these issues is not gone make you popular.
- nescioquid 5y ago
  What a poor, poor billionaire.
- usefulcat 5y ago
  > Had it come out at that time that he vested lots of option with additional borrowing, there would have been a huge media outcry against him. And Musk cares so much about whatever the media has to say about him..
  - panick21_ 5y ago
    It was just some random blogs. It was also politicans who brought this up and high profile interviews where he was asked that.

mrgordon 5y ago

Yes Charlie Lee even said after selling that people should be careful investing in Litecoin at those high prices which caused a major crash in the price. It still amazes me he was able to both sell at the top and crash the price without any legal ramifications.

colecut 5y ago
Every coin went down substantially, many alts dropped over 90%... it's hard to pin that on Charlie because of his comments on litecoin.

panick21_ 5y ago

He used most of that money to vest his options. Sure he could have just borrowed against the stock and vested this options. At that time there were constant articles and accusations that billionaires used the 'borrow against stock' trick to avoid taxes. This was addressed to Musk in multiple high profile interviews where he had to justify that. Had it come out at that time that he vested lots of option with additional borrowing, there would have been a huge media outcry against him. Of course then when he did sell the stock to vest the options. He got shit on because it dropped the stock price and tons of articles were written about how he was manipulating the stock price. And now your story is that its because he knows of the coming crash and wants to get out. So the moral of the story seems to be, it doesn't matter what you end up doing, you will get shit on an equal amount no matter what you do. Being a a very public billionaire willing to talk about these issues is not gone make you popular.

nescioquid 5y ago
What a poor, poor billionaire.
usefulcat 5y ago
> Had it come out at that time that he vested lots of option with additional borrowing, there would have been a huge media outcry against him. And Musk cares so much about whatever the media has to say about him..
- panick21_ 5y ago
  It was just some random blogs. It was also politicans who brought this up and high profile interviews where he was asked that.