3.9million users took part in the Elon Musk poll; What will be Tesla's decision? - page 3.

Ultegra134

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Quote from: LoyceV on May 12, 2021, 01:22:46 PM

Quote from: BrewMaster on May 12, 2021, 01:15:41 PM

this is the same old pump and dump scheme that hundreds of pumpers have used on social media, the only difference is that Musk is using it with much more effect.

Isn't that..... illegal? It's one thing for anonymous pumpanddumpers to do it, it's a different story if it's a billionaire who was already fined $20 million by the U.S. Securities and Exchange Commision for misleading investors.

It's illegal in the stock market, in the cryptocurrency world, where everything is practically decentralized, Elon Musk and whoever has power to influence people, is free to do whatever he pleases. I find it rather annoying, he has been manipulating the market the past few months, posting trolling Tweets, making decisions known to cause an outrage and now this.

I find it outrageous, it's going out of control. He does as he pleases, if he was doing that with the stock market, he would be behind bars now.

PrimeNumber7

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Quote from: bryant.coleman on May 13, 2021, 06:22:08 AM

Quote from: bakasabo on May 13, 2021, 04:28:43 AM

Elon Musk already showed how quickly he could change decisions and how hard it later impact on the market. What is the point of voting for dogecoin to be accepted as a payment for Tesla, if he could later removed that option with a comment like "Dogecoin is a meme coin, or just a joke. But our cars are not jokes. That is why we are suspending vehicle purchase using dogecoin".

Looks like even Elon's manipulation couldn't prevent Dogecoin from sinking. it has lost 20% of its value against USD during the last 24 hours. At least a section of the new entrants to cryptocurrency seems to have realized that Dogecoin is an overhyped shitcoin with no real usage. During the past few weeks, Elon has done a great deal of damage to the cryptocurrency sector. Those corporations which were considering accepting BTC may have cancelled their plans as of now.

All that Musk has done with DOGE is ~~talk about it~~ mention it. He has not endorsed it, helped with it's development, nor invested in it. Musk has a decent following, but merely mentioning it is not going to be enough to get a lot of people to buy it. IMO, we had a lot of people speculating that Musk will either endorse, invest in, or help develop DOGE, in the hopes that doing so would get others to buy. When this did not immediately happen, these speculators eventually sold off their positions.

This is unlike bitcoin in which Musk has (via Tesla), invested in.

Quote from: LoyceV on May 12, 2021, 01:22:46 PM

Quote from: BrewMaster on May 12, 2021, 01:15:41 PM

this is the same old pump and dump scheme that hundreds of pumpers have used on social media, the only difference is that Musk is using it with much more effect.

Isn't that..... illegal? It's one thing for anonymous pumpanddumpers to do it, it's a different story if it's a billionaire who was already fined $20 million by the U.S. Securities and Exchange Commision for misleading investors.

Musk is not telling anyone to buy DOGE. He is merely mentioning it.

Merely mentioning the name "Bitcoin Savings & Trust" is not the same as telling anyone to invest in that poinzi.

andyden9

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Quote from: LoyceV on May 12, 2021, 01:22:46 PM

Quote from: BrewMaster on May 12, 2021, 01:15:41 PM

this is the same old pump and dump scheme that hundreds of pumpers have used on social media, the only difference is that Musk is using it with much more effect.

Isn't that..... illegal? It's one thing for anonymous pumpanddumpers to do it, it's a different story if it's a billionaire who was already m/2018/10/29/teslas-elon-musk-says-his-tweet-that-led-to-a-20-million-fine-was-worth-it.html]fined $20 million by the U.S. Securities and Exchange Commision for misleading investors.

it is illegal! Especially he holds massive Doge

rajakulam

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Currently, Elon musk is only using his fame on social media to raise and lower the price of Dogecoin, so many investors and traders are stuck with him, we don't know what Elon musk will do next in cryptocurrency because he has a big influence. Currently Dogecoin is very easy to control by Elon Musk, people can fall rich and poor in an instant thanks to social media

fulcare

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Quote from: bryant.coleman on May 16, 2021, 08:41:11 AM

Quote from: fulcare on May 16, 2021, 02:45:03 AM

Sorry but the liquidity is extremely low? Was that a typo? DOGE has volume of almost $10 billion and decent order books or am I watching different data than you?

Most of the cryptocurrencies do have liquidity issues, and Dogecoin is no different. Don't just go by the daily trade volumes given by various exchanges. They are almost always inflated. In case of DOGE, from what I have seen, only a small part of the coins are "moving" and most of the larger wallets doesn't show any recent transactions. And for DOGE, let's not forget that 70% of the circulating supply is concentrated in the top 100 wallets. Once someone attempts to sell a large stash of DOGE at once, the prices may fall by 50% or more.

The general issue that it is easier to buy than to sell does indeed apply to almost all cryptos that's correct. But in an upswing there usually isn't a liquidity issue while in a downswing it is almost natural that buy orders suddenly disappear as uncertainty increases. That's the problem when you hold for too long waiting for the peak and out of a sudden the buying side of the order book literally vanishes.

bryant.coleman

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Quote from: fulcare on May 16, 2021, 02:45:03 AM

Sorry but the liquidity is extremely low? Was that a typo? DOGE has volume of almost $10 billion and decent order books or am I watching different data than you?

Most of the cryptocurrencies do have liquidity issues, and Dogecoin is no different. Don't just go by the daily trade volumes given by various exchanges. They are almost always inflated. In case of DOGE, from what I have seen, only a small part of the coins are "moving" and most of the larger wallets doesn't show any recent transactions. And for DOGE, let's not forget that 70% of the circulating supply is concentrated in the top 100 wallets. Once someone attempts to sell a large stash of DOGE at once, the prices may fall by 50% or more.

fulcare

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Quote from: Sithara007 on May 15, 2021, 07:15:53 AM

Quote from: int03h on May 14, 2021, 10:48:20 AM

DOGE is also a cryptocurrency mined with POW so I think it is pointless to cheat Bitcoin to make DOGE the company's payment unit.
DOGE is at risk of a sharp drop in price as only a few wallet addresses hold more than 50% of the total supply of this crypto.
Tesla can accept Bitcoin they can accept DOGE but then they can also get rid of DOGE like they do with Bitcoin. So I don't think you should over-FOMO a coin meme-like DOGE.

Getting rid of DOGE is going to be much more difficult, I am afraid. Because the liquidity is extremely low and the top-100 wallets contain around 70% of the circulating supply. Dealing with a few million USD worth of DOGE should be OK. But anything more than that, they will face a lot of issues related to liquidity. Serves the loser Elon right. Let him lose a few hundred million with DOGE. Ungrateful b@stard got $1 billion in profit from his Bitcoin investment, and yet he tried to destroy BTC.

Sorry but the liquidity is extremely low? Was that a typo? DOGE has volume of almost $10 billion and decent order books or am I watching different data than you?

Sithara007

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Quote from: int03h on May 14, 2021, 10:48:20 AM

DOGE is also a cryptocurrency mined with POW so I think it is pointless to cheat Bitcoin to make DOGE the company's payment unit.
DOGE is at risk of a sharp drop in price as only a few wallet addresses hold more than 50% of the total supply of this crypto.
Tesla can accept Bitcoin they can accept DOGE but then they can also get rid of DOGE like they do with Bitcoin. So I don't think you should over-FOMO a coin meme-like DOGE.

Getting rid of DOGE is going to be much more difficult, I am afraid. Because the liquidity is extremely low and the top-100 wallets contain around 70% of the circulating supply. Dealing with a few million USD worth of DOGE should be OK. But anything more than that, they will face a lot of issues related to liquidity. Serves the loser Elon right. Let him lose a few hundred million with DOGE. Ungrateful b@stard got $1 billion in profit from his Bitcoin investment, and yet he tried to destroy BTC.

fulcare

sr. member

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Quote from: Darker45 on May 13, 2021, 08:17:57 PM

Quote from: fulcare on May 13, 2021, 01:47:02 AM

Quote from: Darker45 on May 12, 2021, 08:33:20 PM

I voted no to this, hoping that I am contributing to No becoming the winner in this poll, which, in turn, would hopefully make people realize that they are actually courting danger by investing in Doge right now. However, it seems the millions of blind followers of Elon are all Doge diehard fans that Yes easily made it as the winner. But I am more than sure that 99% of those who voted yes are simply Doge owners and won't actually buy a Tesla with Doge nor can afford to buy one.

All these tweets of Elon mentioning Doge is definitely being interpreted by millions as a direct promotion of the meme coin. The risk is very high. I'm afraid Doge will fall down to tens of Sats sooner rather than later.

It would be an asshole move if he now does not follow the result of the poll and thereby sends Dogecoin South. It's becoming weirder by the minute how he is using Twitter and crypto.

What is weirder, though, is that a lot of people are obviously taking this weird man's weird tweets as some kind of signal, if not gospel truth.

Anyway, it seems Elon is enjoying his time over Twitter and probably with Doge as well. He's probably sticking to this poll's result. We'll see in the coming days. Meanwhile, it seems he's now getting serious with his Doge relationship. This man loves a Doggy.

https://twitter.com/elonmusk/status/1392974251011895300

Who doesn't love a doggy huh? Tongue

I wonder why he uses Dogecoin, then again it makes sense. He chose the most stupid currency out there and let's it go to the moon. The Dogecoin fun and trash talk (to da moon) fits his own aspirations. He can also prove that he can not only fire rockets to the moon or build electric companies, but also make a meme coin one of the most valuable currencies in the world. He is a funny dude, what can we say against that? Cheesy

int03h

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DOGE is also a cryptocurrency mined with POW so I think it is pointless to cheat Bitcoin to make DOGE the company's payment unit.
DOGE is at risk of a sharp drop in price as only a few wallet addresses hold more than 50% of the total supply of this crypto.
Tesla can accept Bitcoin they can accept DOGE but then they can also get rid of DOGE like they do with Bitcoin. So I don't think you should over-FOMO a coin meme-like DOGE.

Psynthax

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The poll I think was created by elon to determine how many people gonna be bullish when doge get accepted by tesla as payment method, after all asking people out of the blue like that? isn't tesla a company and all the decision is up to the stock holders which means doesn't matter what's the result might be, the final decision definitely not affected by them?
Just imagine if 3 millions said they want doge to get accepted by tesla, that's 3 million of people that gonna follow elon's decision no matter what and a good way to determine elon's chance of hyping up doge and increase his profit. that's just my assumption tho take with a grain of salt.

Avantikakaur

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Elon Musk might be back in the next few days with a new tweet about Bitcoin that Bitcoin will again accept payments everywhere. Elon Musk is probably planning to make all the token coins a little bit more profitable, so after investing in this he will publish a comment again which will make the market a little more. Now we have to wait for the next news.

Kakmakr

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Now, if Elon Musk was really clever, he would target most of the dominant coins with this... because there are a lot of early investors in these coins and all of them are potential targets for his cars. He can basically start with Dogecoin and then add a new coin every month, to hook some of the other whales. Grin

Who would have thought that "Dogecoin" would ever reach celebrity status, I certainly did not... that is why I pissed away my Dogecoin that I bought in the early days. Roll Eyes

(The days when you could only buy BTC / LiteCoin / Dogecoin ....) Grin

Obito

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With the resounding result of Yes in the poll, I think that we are going to see that Tesla is going to accept DOGE as a car payment. Better to hodl your DOGE right now because it will probably go up in the future knowing that there is a prominent person pumping it.

iamsheikhadil

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I think he actually has already made up his mind about accepting Doge because if he didn't, he wouldn't even create the poll Grin

plus, he knows majority of Twitter users will surely vote yes as who won't want their Doge portfolio to grow?! But it looks like Elon is trying harder to pump the coin more, now I'm starting to think he's not actually into these rather just trying to make profits even though my heart says otherwise

Sithara007

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A few weeks ago, there was a thread in the Altcoin Section. It was related to the level of centralization with Dogecoin. According to the OP, more than 68% of the Dogecoin circulating supply is stored in the top-100 wallets. Obviously these whales are the beneficiaries from the recent Dogecoin bull run. The concern regarding electricity consumption was just a silly excuse. Elon's real intention was to replace Bitcoin with Dogecoin. But he is going to fail, just like what happened to others like Mark Zuckerberg.

Darker45

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Quote from: fulcare on May 13, 2021, 01:47:02 AM

Quote from: Darker45 on May 12, 2021, 08:33:20 PM

I voted no to this, hoping that I am contributing to No becoming the winner in this poll, which, in turn, would hopefully make people realize that they are actually courting danger by investing in Doge right now. However, it seems the millions of blind followers of Elon are all Doge diehard fans that Yes easily made it as the winner. But I am more than sure that 99% of those who voted yes are simply Doge owners and won't actually buy a Tesla with Doge nor can afford to buy one.

All these tweets of Elon mentioning Doge is definitely being interpreted by millions as a direct promotion of the meme coin. The risk is very high. I'm afraid Doge will fall down to tens of Sats sooner rather than later.

It would be an asshole move if he now does not follow the result of the poll and thereby sends Dogecoin South. It's becoming weirder by the minute how he is using Twitter and crypto.

What is weirder, though, is that a lot of people are obviously taking this weird man's weird tweets as some kind of signal, if not gospel truth.

Anyway, it seems Elon is enjoying his time over Twitter and probably with Doge as well. He's probably sticking to this poll's result. We'll see in the coming days. Meanwhile, it seems he's now getting serious with his Doge relationship. This man loves a Doggy.

https://twitter.com/elonmusk/status/1392974251011895300

Gyfts

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Quote from: bryant.coleman on May 13, 2021, 12:35:32 PM

Quote from: beerlover on May 13, 2021, 12:20:41 PM

It was Elon that caused it as well, that is the funny thing. He talked about how his company Tesla, after just few months, will not sell cars for bitcoin because of "environmental fear" and then all the crypto prices crashed. He asked about "should tesla accept doge" a bit before that as well. It is an obvious attempt that he wanted to get doge above bitcoin, even if not above marketcap, it should be above in profitability, the price dropped after his SNL sketch and that is why he wanted to recover it but now with the bitcoin tweet he destroyed all of it.

This is basically the reason why I believe he wanted to do something but failed miserably while doing that, because when bitcoin drops everything else drops with it. In the end we are in a world where crypto is tied together and people like Elon should not have this much power over it at all.

I have been saying this since 2012 (when I made my first post in this forum). Altcoins doesn't have any independent existence. They will survive only of Bitcoin survives. There are technologically advanced altcoins out there such as Cardano, which uses the modern Haskell algorithm. But even these coins follow the same principles followed by Satoshi Nakamoto when he created Bitcoin - such as controlled supply, PoW mining.etc. Elon will soon realize that he can't push any of his shitcoins above Bitcoin.

"Dontbuyatesla" is trending right now on twitter LOL.

Too bad Elon Musk didn't realize no one would listen to his shitty crypto advice now that he spreads misinformation about BTC. The whole "green technology" pitch was BS. He's a billionaire engaging in market manipulation with an unregulated market, and his mindless followers will defend him because he posts memes on Twitter. He reminds me of a slightly more hinged version of Trump.

doomloop

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Quote from: Leviathan.007 on May 12, 2021, 06:48:27 AM

It's been almost twenty-four hours since Tesla CEO Elon Musk took to Twitter. He asked his followers in the poll whether they agreed with Tesla agreeing to use the meme coin as a payment option.
So far, 3901106 votes have been counted. Meanwhile, more than 3 million (78.2%) respondents voted "yes" and 21.8% were against.
Earlier this year, Elon Musk announced in a statement that Tesla had begun accepting the world's leading currency code, Bitcoin (BTC), and that the bitcoin received would not be converted into Fiat currency. Tesla also allocated $ 1.5 billion to buy bitcoins. It was later revealed that the company had liquidated ten percent of its BTC assets.
As you know, after Saturday night's broadcast, the DOGE price fell from $ 0.71 to $ 0.44, but the growth of this currency resumed.

He really said that the Bitcoin they make from sales won't be converted as fiat, are you really sure that he's going to do that? Maybe they will for some time, but it wouldn't be for long, because they are company and there might come a time that they are going to need the money they have there, unless maybe the price of bitcoin goes really high and they have a lot of money stored there and so they wouldn't need to be selling all their money/coins to sort out some issues. They might not sell all, but they will still be selling some of them at sometime, that's what I think. But it's good that they are accepting cryptocurrency.

As for adding Dogecoin to the list, it's all up to them to decide. This seems to me like the time for Dogecoin, because with everything that has been happening all this while, dogecoin has been gaining some popularity and has been going up the chats, I don't think this is the end.

bryant.coleman

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Quote from: beerlover on May 13, 2021, 12:20:41 PM

It was Elon that caused it as well, that is the funny thing. He talked about how his company Tesla, after just few months, will not sell cars for bitcoin because of "environmental fear" and then all the crypto prices crashed. He asked about "should tesla accept doge" a bit before that as well. It is an obvious attempt that he wanted to get doge above bitcoin, even if not above marketcap, it should be above in profitability, the price dropped after his SNL sketch and that is why he wanted to recover it but now with the bitcoin tweet he destroyed all of it.

This is basically the reason why I believe he wanted to do something but failed miserably while doing that, because when bitcoin drops everything else drops with it. In the end we are in a world where crypto is tied together and people like Elon should not have this much power over it at all.

I have been saying this since 2012 (when I made my first post in this forum). Altcoins doesn't have any independent existence. They will survive only of Bitcoin survives. There are technologically advanced altcoins out there such as Cardano, which uses the modern Haskell algorithm. But even these coins follow the same principles followed by Satoshi Nakamoto when he created Bitcoin - such as controlled supply, PoW mining.etc. Elon will soon realize that he can't push any of his shitcoins above Bitcoin.

Topic: 3.9million users took part in the Elon Musk poll; What will be Tesla's decision? - page 3. (Read 815 times)