Can the market build an immune system against meddling from influencer like Musk - page 2.

Naficopa

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Quote from: Saisher on June 18, 2021, 05:19:46 AM

Vitalik Bterin in a recent interview told CNN

Quote

that he believes that the crypto market will gradually build an "immune system" against such social media meddling. "Elon is not going to have this influence forever," he said. Frazzled cryptocurrency investors can only hope that Buterin is right.

Do you think or shared Buterin's views that the market will soon build an immune system and how it's going to happen, honestly we don't need people like Elon Musk who has an influence in the market.

First of all, Elon Musk is not an ordinary influencer, but one of the richest people in the world, so such people will always have an influence on all financial markets.
When it comes to the cryptocurrency market, its resistance to people like Elon Musk and their actions will build as the maket cap grows. The market cap is growing all the time, so I agree with Vitalik that it is only a matter of time before the market becomes resistant to such manipulations.

cabron

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The immune system will be adopted that will make the market immune to fud and its already starting like China cracking down which miners are moving somewhere else. One day when all are already informed about what is going on and the war of currencies, the people around the world will likely not mind what Musk will tweet.

When more Bukele like presidents will continue to fast forward the use of decentralized currencies, influencers will be forced to tell the truth.

tabas

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It is only like people are already exhausted with such influencer and won't be paying attention anymore to what they say. The market is maturing and so the investors does too.
I think that's the system that he's talking about and there's no actual system but just the common understanding of most of the investors when the time matures more.

Natalim

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Eventually, the market will, but until I see it, I will not believe it will happen.

Elon keeps abusing using his influence in crypto, and although many know about his intention, there are still many who followed him blindly.
Let's just say that it takes time for people to learn and some people learned the hard way, let's just wait until the market will be in a worse situation and we will surely see lots of hate on Elon especially when DOGE will go back to a trashy coin.

wxa7115

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Quote from: beerlover on June 29, 2021, 11:48:59 PM

Quote from: wxa7115 on June 29, 2021, 03:15:16 PM

let those people and their manipulations aside and do not listen to them, this is the easiest solution we have available, it is free and easy to implement.

I do not find it easier to implement because most crypto people are always looking for "signals" on where to buy and what to buy hence these people are easily tricked by highly reputed people and I am not seeing it easier to make such people to trade on their own all of sudden.

It is easier in the sense there is nothing for anyone to do in order for this to become a reality, any other solution will require the creation of a centralized body to try to regulate the information available to investors or something incredibly difficult like that.

If people still want to receive signals and make themselves rich in the process despite the warnings given by people on the forum almost everyday that this is not possible then that is their choice, a choice that is going to have the opposite effect of what they were looking for since they will keep losing their money to scammers or to influencers like Elon Musk.

Dump3er

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Quote from: tygeade on July 05, 2021, 04:43:37 PM

The thing about "immunity" is that would that work just for Elon? Or for everyone else? I mean we do not know if we want just the bad stuff, or do we really do not care about the good ones as well? When Elon Musk was saying great things about crypto we were all happy about it, but when he started to say some bad stuff suddenly we started to hate him.

While this is a very valid point you are bringing up, it is of course biased. Manipulation is manipulation. We should ask ourselves if we want manipulation? For the normal investor I would say no. You could also say bad whales and good whales manipulating markets cancel each other out, but it boils down to the fact that the masses have nothing to say actually. I guess you can never fully stop manipulation. Gold is most likely manipulated even though it is a much bigger market.

Quote from: tygeade on July 05, 2021, 04:43:37 PM

He was talking about 1.5 billion dollar investment to bitcoin, accepting bitcoin for tesla purchases, and then doing much more with dogecoin as well and everything was looking good and I didn't see many people complaining, I tried to tell people that its dangerous yet nobody cared.

Good to have guys like you around. I had a similar thought process and I also didn't touch Dogecoin.

Quote from: tygeade on July 05, 2021, 04:43:37 PM

However now that in the past one or two months he started to say stuff that is not ideal for the crypto world and the price went down, suddenly people are realizing how dangerous it is for him to have this much influence over crypto prices. Either we get rid of both the goods and the bads or you have to take the bad with the good.

Amen!

sulis sudibyo

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very difficult, unless people ignore influencers. if they still follow and even believe in the words of influencers there will be no way to prevent their influence. there will be no immune system for the crypto market, all will keep repeating itself. and the market will continue to be manipulated. in the future there will always be another Elon musk looking to manipulate the crypto market.

tygeade

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The thing about "immunity" is that would that work just for Elon? Or for everyone else? I mean we do not know if we want just the bad stuff, or do we really do not care about the good ones as well? When Elon Musk was saying great things about crypto we were all happy about it, but when he started to say some bad stuff suddenly we started to hate him.

He was talking about 1.5 billion dollar investment to bitcoin, accepting bitcoin for tesla purchases, and then doing much more with dogecoin as well and everything was looking good and I didn't see many people complaining, I tried to tell people that its dangerous yet nobody cared.

However now that in the past one or two months he started to say stuff that is not ideal for the crypto world and the price went down, suddenly people are realizing how dangerous it is for him to have this much influence over crypto prices. Either we get rid of both the goods and the bads or you have to take the bad with the good.

Dump3er

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Quote from: Saisher on June 18, 2021, 05:19:46 AM

Vitalik Bterin in a recent interview told CNN

Quote

that he believes that the crypto market will gradually build an "immune system" against such social media meddling. "Elon is not going to have this influence forever," he said. Frazzled cryptocurrency investors can only hope that Buterin is right.

Do you think or shared Buterin's views that the market will soon build an immune system and how it's going to happen, honestly we don't need people like Elon Musk who has an influence in the market.

I am not sure if my thought process is entirely right, but for a single coin Elon Musk will have influence, maybe even for a couple of coins because he has Tesla. The solution would only be sheer market size. If the market cap is so large that he can't compete with it with his own net worth in in any noteworthy way, that would be the moment I would call it an immune system. I described in another post though as long as he has a company that serves the mass market, he could deploy all kinds of tools to push certain coins, like giving discounts for a while if, and only if you pay with coin X.

Mistafreeze

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Quote from: Saisher on June 18, 2021, 05:19:46 AM

Vitalik Bterin in a recent interview told CNN

Quote

that he believes that the crypto market will gradually build an "immune system" against such social media meddling. "Elon is not going to have this influence forever," he said. Frazzled cryptocurrency investors can only hope that Buterin is right.

Do you think or shared Buterin's views that the market will soon build an immune system and how it's going to happen, honestly we don't need people like Elon Musk who has an influence in the market.

This is sure and it going to happen soon, cause the cryptocurrency market have not really gain the strength to withstand trivial news coming from different sources just to shake the market for a while. Cryptocurrency is still at it early stage bearly not more than 14 year in existence which is comparably very minute to other financial markets. Once the crypto market gains good stand, all jokers, social media manipulators would not have good ground to play with the market anyhow, and investors would have solid ground to invest more in crypto.

Pierre 2

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Vitalik isn't wrong about this but that immunity is nearly impossible to establish. Crypto markets are like wild west comparing to regular markets. There is nearly no regulation in many countries. Nearly no way to stop people from overbuy or oversold.

Golftech

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Quote from: feelideb on July 04, 2021, 10:02:22 AM

Influncer and Shillers are part of speculative price action, I doubt if a day will come when market will be immune to such practice. People love to be spoon fed and at such, they listen to people that will sell them lies. Little wonder you see lots of people falling for scam and pump and dump coin!

As it is really happening continually, there are people who are lazy not to deal with their own research and

by trusting those influencers and believeing that luck will be on their sides once the market moves, no wonder

why there are still many people who continue following Musk they are willing to ride with him and risk their

money for him

feelideb

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Influncer and Shillers are part of speculative price action, I doubt if a day will come when market will be immune to such practice. People love to be spoon fed and at such, they listen to people that will sell them lies. Little wonder you see lots of people falling for scam and pump and dump coin!

LUCKMCFLY

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I think that Elon Musk does not have much impact on the market, in fact days ago he tried to make a good pump by publishing in favor of Doge, of course in his own way and he did not achieve his mission, the reason is simple, Elon Musk had the heaven won when he tweeted Pro-BTC and was winning with DOGE, but after his huge FUD against BTC under the guise of free energy, he caused disappointment for his BTC followers and even his longtime fans, I think it was the Elon Musk era It is fading, and it is not the only BTC whale that has entered the market. Of course it is my personal perception.

barbara44

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Quote from: Mihawk on July 01, 2021, 02:14:31 PM

I don't think at the moment, but as the people involved mature and avoid making purchases at price peaks and not participating in FOMOs, controlling their greed. Immunity against influencers will appear. Most of the market noise is because people don't know how to control themselves and end up making decisions and taking actions in pure sentimentality, ignoring any planning and initial order. The people who got involved with Musk have now learned their lesson and will certainly not repeat the same mistakes.

The latest tweet he had about doge didn't increase the price of doge that much. So I assume that people are getting a bit smarter about it? I am not sure about it yet because it has been just one tweet but with more and more stuff maybe we could actually start to see people not caring about what he tweets? I am hoping that he tweets about doge these days because back in the day when he did that the price of doge went up and then he helped the crash happen in the last 2-3 months when the price went from 64k to 30k for bitcoin and from over 70 cents to what it is today for doge, yet this time around I want him to tweet and see if the price moves at all.

If he tweets again few more times and the price doesn't change at all, that is a good sign, if he tweets and price moves again then it means he still has influence. At the very least we saw one tweet that did nothing and that is a good start.

tvplus006

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I think those market manipulation will always happen because there are a lot of whales holding a lot of crypto in their wallet. Even in stocks there are still pump and dump. So i think that kind of system won't prevent the game of the whales because they are groups with each other and will move the market chart with one move

At the moment when the cryptocurrency market is regulated, manipulations will disappear, just as they are absent from the stock market. And then manipulators like Elon Musk will have to adhere to the rules. We remember how his manipulations around Tesla were stopped by the SEC and therefore he found a place where such responsibility is currently absent.

Mihawk

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I don't think at the moment, but as the people involved mature and avoid making purchases at price peaks and not participating in FOMOs, controlling their greed. Immunity against influencers will appear. Most of the market noise is because people don't know how to control themselves and end up making decisions and taking actions in pure sentimentality, ignoring any planning and initial order. The people who got involved with Musk have now learned their lesson and will certainly not repeat the same mistakes.

bocyaj

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Quote from: coco23 on June 30, 2021, 03:23:53 AM

To build an "immune system" what the crypto market needs is fundamentals such as: real world use, net "real world"/fiat money inflow one way or another into the ecosystem. Currently 99% is speculation. Even mining is speculation for future prices.
A good thing for instance would be if crypto-related companies vouch for holding certain amounts of crypto and do buy-backs for a minimum value.

Do you think,bitcoin had now use in real life.You can check the news for the update.Because bitcoin was the investment platform over a period.Many traders influence the market now.Because they want to earn good profit from it.It will be the wish of most of the trader.

btc78

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Quote from: ?? on ??

I think those market manipulation will always happen because there are a lot of whales holding a lot of crypto in their wallet. Even in stocks there are still pump and dump. So i think that kind of system won't prevent the game of the whales because they are groups with each other and will move the market chart with one move

The manipulation will only succeed if we as small investors will go with them , i mean the when they try to shaken the market the effect starts to grow when we are also selling but if we will not come along then they will fail because none of our money will goes to their bags .
they are only succeeding when others starts to panic and then the value will fall hard so they will buy back again at lower or cheaper price.

coco23

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To build an "immune system" what the crypto market needs is fundamentals such as: real world use, net "real world"/fiat money inflow one way or another into the ecosystem. Currently 99% is speculation. Even mining is speculation for future prices.
A good thing for instance would be if crypto-related companies vouch for holding certain amounts of crypto and do buy-backs for a minimum value.

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