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Model Y Not? Elon Musk Rolls the Dice Unveiling Risky New Tesla SUV

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If you are launching an SUV to prove to everyone you’re not as chaotic a company as the media makes out, then start on time.

The Tesla Model Y launch live stream was delayed. As I sat waiting all I could think was here we go again. Maybe I’m just a stickler for being on time, but when everyone is suggesting your CEO, Elon Musk, doesn’t run a tight ship and you make only a handful of unveilings a year, start on time. After 15 minutes the screen went black, and rather than increase my excitement I was just annoyed. It then told me to stay tuned. After 20 odd minutes, it began.

TESLA WILL BE ON MARS IN 10 YEARS AND KAZAKHSTAN WILL HAVE SUPERCHARGERS (MAYBE)

First, there was an advert for Tesla generally. Then Musk came out to give a monologue about the origins of Tesla in his unique stuttering, off the cuff, style while they showcased the product line, starting with their first ever car (serial number 01) and working through the different models.

Two awkward jokes about making a model E (ultimately 3) to go between the model S and X and the word Semi and we were finally ready to see the car. Or so I thought, there was a bit more blurb to go and a jovial musk was clearly in a good mood having made it through a tough 2018 and was enjoying his time on stage. Hot off the press: Tesla will build superchargers in Kazakhstan, and a Tesla could be driving on Mars in 10 years. You didn’t come for that info, but there you go.

NO SURPRISES IN UNVEILING OF PRACTICAL MODEL Y

Some told you so quotes from naysayers in the past and here comes the Y.  Oh my. It’s a model 3 utilizing the ugliest parts of the X. Probably a brilliant car functionally, however, and it makes sense they would reuse all the components in the other vehicles to makeshift an SUV in a limited time-frame. You can’t help but think it looks like a bit of a rush job though. The Y isn’t a ground-breaking car; it’s a necessary push into the mainstream. A cash cow if you will. All of a sudden Musk disappeared into the night, and it was over. No surprises or Easter eggs this time.

Lamborghini, Rolls Royce, and Bentley are all companies you wouldn’t expect to make an SUV, and yet they do. The market just told them they should make one, and here comes Tesla to join them. I can’t help but feel like it’s a mistake, but time will tell. Existing Tesla owners will probably be worried about the company biting off another considerable chunk of car production to chew at a fiscally tight time for the company.

Elon Musk Tesla Model Y

Is Elon Musk stretching Tesla too thin with his Model Y? | Source: Frederic J. BROWN / AFP)

TESLA AND MUSK ARE FACING A FIRESTORM OF LEGAL SUITS AND CRITICISM

If Tesla isn’t in chaos, then it must be close. The staggeringly loose management style of Musk has been attracting a lot of attention lately, as he faces a sea of legal troubles. Lawsuits from both shareholders and a case filed against him by the SEC take aim at Musk’s tweeting as CEO. Next, take a look at the economy-drive which has seen Tesla close stores, then re-open them, cut prices and then hike them again. Its a wild time for Tesla fans.

Source :ccn

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Circle CEO Says Tokenized Fiat Currencies Are on the Horizon

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Jeremy Allaire, the CEO of blockchain-based, crypto-inclusive money transfer company Circle, said that the firm has long held that major fiat currencies would eventually be tokenized.

Significant digital currencies

In an interview on Aug. 21 on the podcast Global Coin Research, Allaire said that Circle has thought for years that sovereign currencies would eventually be digitized. He stated:

“When we got started with Circle back in 2013, I think our belief has been that there will be significant non-sovereign digital currencies that grow in use and that will be attractive to people for a wide variety of reasons, and Bitcoin obviously being the most noteworthy. But we also have believed that the major reserve currencies of the world, the major trade currencies of the world, would become digital currencies.”

A radical change

Allaire also believes that the world is headed toward a system of cheap, instant monetary transactions with traditional, fiat money — regardless of which countries happen to launch digital fiat money. Moreover, he thinks that this will be a radical change in the way that payment systems, the monetary system and economic interaction at large will work. 

Allaire explained that he does not think digital currencies will simply be tokenized via blockchain, but otherwise operate the same as they do now. Instead, he predicts that global money tokens, backed by baskets of reserve currencies, will emerge and become the preferred monetary model. 

However, he projects this as the “mid to long-term outcome” of countries’ current endeavors with tokenization. Allaire also believes there are some detrimental factors preventing immediate progress, including issues such as nationalism, trade conflict or even a resurgence of so-dubbed economic mercantilism.

National banks move to issue digital currencies

As previously reported by Cointelegraph, a number of central banks are looking to issue digital currencies. Rwanda’s central bank is one of the latest to indicate its interest, and it joins a long list of other countries including Uruguay, the Bahamas, China, Sweden, Ukraine and the Eastern Caribbean Currency Union. 

China in particular appears to be approaching a digital currency launch quickly, with some sources saying that Facebook’s Libra has provided inspiration for further testing.

Source:cointelegraph

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Overstock CEO Patrick Byrne resigns

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The CEO of Overstock (NASDAQ: OSTK), Patrick Byrne, who has openly supported Bitcoin, announced his immediate retirement.

Although the entrepreneur has not mentioned about his future endeavors, he mentioned in his letter that “the blockchain revolution will reshape key social institutions.” Hinting towards the company’s inclination on blockchain, he further added,

“We have designed and breathed life into perhaps the most significant blockchain keiretsu in the world, a network of blockchain firms seeking to revolutionize identity, land governance (= rule of law = potential = capital), central banking, capital markets, supply chains, and voting.”

Crypto advocate Anthony Pompliano also tweeted regarding the incident, crowning Byrne as the “only verbal supporters at the helm of a public company.” Moreover, crypto enthusiasts are optimistic about the fact that other crypto ventures such as tZERO will receive the much needed attention and deliver real value in the crypto space. One of the popular comments on Twitter read,

“Ouch, he was the guy that basically shifted things hardcore into crypto last year, right? Big risk and I’m guessing the shareholders and board are pissed wanting results. Damn shame.”

Source:ambcrypto

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Binance CEO Changpeng Zhao Awarded With The “Dumbest Crypto Tweet” By Community

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  • Changpeng Zhao gets trolled for having a conversation with a 14-year old refusing to “discuss numbers in USD” rather insisting on BNB numbers
  • Meanwhile, just a day before this, Binance jersey Twitter got hacked while KYC hacker is “warming up” to release new leaks.

On Aug 17, Changpeng Zhao, the CEO of the world’s largest cryptocurrency exchange Binance got trolled for his tweet that actually sounds “dumb.”

Zhao apparently had a conversation with a 14-year old who is a fan of BNB — Binance’s native digital currency, Binance Coin.

This didn’t go well with the crypto community and they simply refuse to believe anything of this sort actually took place.

Source: https://twitter.com/ltc_angel

Popular cryptocurrency podcaster Dr. Peter McCormack hoped that Zhao referred the “14-year old” to the Binance’ terms of service.

As per Binance terms of use, a user must be 18 years old or of legal age to form a binding contract under applicable law.

“I’ll take “things that never happened” for 50 BNB Alex,” trolled Mansa_Godson, Bitcoin accumulator and founder of Mutual Capital.

This has the Dumbest Tweet Hub, a Twitter page featuring the daily dumbest tweets from crypto Twitter nominating Zhao for the “Dumbest Tweet of Crypto Twitter,” that he finally won.

“Had an interesting chat with a 14yr old Today. He refused to discuss numbers in USD, and insisted on Pokémon monster values instead. The next generation will catch them all,” wrote the Dumbest Tweet Hub.

A Series of Hacks

A day before Zhao took to Twitter to share his experience of talking to a 14-year old about BNB, Binance Jersey’s Twitter account was hacked by an anonymous user called @LightningNetwo9.

Per the tweets posted by the hacker, the individual is a security researcher claiming to have done so with altruistic motives.

The Twitter hacks came about three months after the successful hacking of Binance’s exchange that cost them over 7,000 BTC and around 10 days after a hacker exposed KYC images of 10,000 Binance users on Telegram, demanding 300 BTC in exchange.

Binance said in a statement it was false KYC leak and that there was no evidence that confirms the images obtained are actually from Binance.

In the latest series of Tweets, the hacker is “warming up” for another set of KYC leaks.

The hacker with the Twitter account ‘Bnatov Platon’ is preparing to release further material that “will be released day by day” while asking people to “be aware of scammers” as he is not asking for BTC from them.

While no time frame has been provided for the KYC release, the hacker also shared records of Telegram chats, with a user described as a member of Binance’s customer service team.

Source. bitcoinexchangeguide.

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