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One day promoting Bitcoin and the next Doge..
He knows full well that his tweets have an impact and
he needs to think about those who will act.... Not
Billionaires like him but those trying to make a quick
return... Many will buy Doge without having a clue what it is
as FOMO kicks in.... Many will use credit to buy and if
the current run goes into a sharpe decline they will be left in debt..
It is hugely irresponsible.... !
Back to ARB... The Board have a clear Business plan... Bitcoin is now
an accepted currency and as we introduce new machines..The potential
here just keeps on getting better...Friday's RNS was a smart visionary move..
Great to see Bitcoin over $40 this weekend...Looking forward to next week!
GLA!
Not if he buys before he tweets, and sells soon after.
Patch you missed the point entirely....!
I wonder if he was lent on after the Bitcoin tweet, which drove the price up, he makes out he’s one of the guys but it might be that he deliberately then flipped his narrative to allow big money into Bitcoin at a lower price and pumping the doge to get young PIs into the crypto space .... I have zero doubt he has BTC already but it might be that he flips again once the big companies all have their positions settled and then they can all allow BTC to take off together, then the doge crowd jump across due to fomo and the change in narrative and the race to a 1m BTC is on.... just a thought....
He’s a clever guy isn’t he. The fact that he has us trying to guess what he may or may not be up to, forming opinions about his moves, or just generally talking about him is probably exactly what he is after and it’s probably happening on boards like this all around the world.
Agree Manifesto. This just feels like he is having a laugh with people without considering implications for many.
We can say people should do their own research and it is their own fault if they lose, but he does have a responsibility in his position.
Other issue is it doesn't help the narrative of BTC as a serious alternative to fiat and / or as a protector of wealth as gold 2.0.
I would prefer it if he just stayed away all together tbh.
ATB
RC
I saw someone propose he was trying to get the masses to open crypto accounts.
That opened my mind a bit, it makes sense, once you have made money on doge where do you put it? Into BTC would be where I would put it.
I suspect millions will be burned though. Double edged sword...
Not unreasonable to expect Regulators to be all over EM like a rash as his tweets move markets ,possibly for his benefit & potentially causing financial anxiety for his millions of supportive followers who hang on his every word .the fact that he is (currently) one of the most successful businessmen in history does not necessarily bestow Deity status upon him .
He should behave more responsibly
This does rather highlight the social media/social influence issue doesn't it?
I do understand concerns that this might shine a negative light on the cryptocurrency space, but it's also a bit like saying that "cryptocurrency is used by criminals" when there's a much longer, and more deadly, history of fiat currency, gold, diamonds and drugs being used for the same purpose.
Cryptocurrencies are just the focus of the moment, particularly by the authorities who may seek to discredit or control the space.
I suspect Musk were to tweet "we should all short the $/€/£/¥" then his minions would do so....
Imagine.
CC
IMHO... Bitcoin holders do not need to worry about Musk..
But those who have piled into DOGE may well find they have been played....
I expect there will be a backlash to his actions when the DOGE rise stalls
as it is basically because of Musk's tweets... He will not like the adverse publicity...
The more I see his behaviour the less I am impressed. I too celebrated the BTC tweet but he now seems to me to be a super tamper having fun based on hide standing. I agree it is irresponsible. People will lose money because they don’t understand, some will make money. What I know is Elon won’t lose money on his tweets.
*ramper
I get that Musk is a highly influential figure on social media. The public has the power to change that by ignoring his tweets. If WSB can push up Gamestop then social media can turn the tide on reacting to tweets like his opinion is a guarantee of success. If people ignore his tweets he wont have any influence. Naive I know, but then so are those who invest on the word of someone they don't know.
Musk is clearly a very clever guy starting multiple successful businesses including Paypal.
He has already been censored over Tesla tweets and that Thai Cave rescue!
The Tesla Model S sells for £77K and they have $250K roadster not due until 2022 that people have already paid for.
Then theres SpaceX where he going to give everyone free internet!
I don't get Doge at all other than doing it for a laugh & attention seeking though. Doge has an unlimited supply originally 100 billion tokens but another 5 billion every year now according to Wikipedia but I guess starting out at a few cents each it looks cheap at 6c but market cap is almost $8Bn and turnover in last 24hrs is the same, mental.