Can the market build an immune system against meddling from influencer like Musk - page 3.

beerlover

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Quote from: Saisher on June 18, 2021, 06:19:46 AM

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.

Exactly we do not need anyone to influence the direction of market but due to free and open nature of crypto markets, some people try to control it with their reputation which was built out side of the crypto space. When this crypto space always invites big people and expect them to be participating in adoption of cryptos, those people may try to profits out of their reputation as well. When common individual adopt crypto in more number and trade on their own then these people will fade away.

Quote from: wxa7115 on June 29, 2021, 04:15:16 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.

wxa7115

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Quote from: kidbounty on June 22, 2021, 01:30:35 AM

building a system like this is difficult and seems impossible because people are always stuck in FOMO. and the situation is exacerbated by speculators trying to make the market volatile. things like this will continue to happen even in the future though. maybe it's not musk that does this anymore, but maybe bezos, or mark, or some other rich guy did the same thing that elon musk did yesterday. and it will still affect the market.

Correct, there will always be someone rich trying to manipulate the market, that is not really a problem since they do this all the time, what people need to do is to learn how to do their own due diligence and decide by themselves what to do with their coins and not let external sources tell them what to do.

Besides even if something like this could be built it will go against the nature of this market, this market was created in such a way that could resist regulations or any measure taken by the governments, to limit the damage those rich people can do to the market then the nature of the market will need to be changed so much that it is simply not worth it, 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.

speedforce

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Quote from: senyorito123 on June 22, 2021, 07:56:07 PM

Quote from: Saisher on June 18, 2021, 06:19:46 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.

Maybe we don't need him, but with his fortune I believed that's a huge investment that he had. Whether we like it or not Elon Musk had a biggest contribution here in crypto that we shouldn't take for granted. He'd been followed by many experts not with his skills in trading but for the huge influence that he got.

How can Elon Musk have biggest contribution in crypto? He just create pump and dump condition which isnt a good thing to the market, now market could have another healthy correction to fix it up.

Anonylz

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Quote from: Fivestar4everMVP on June 27, 2021, 04:04:49 PM

I believe it is possible for the market to build an immune system against manipulators, but from my point of view, this is not happening now and it's not going to happen anytime soon, for this to effective work, the crypto market must have grown to a higher level far more than where we are right now, for the crypto market to be atleast 98 percent free from manipulators, we have to have market cap of or close to that of Forex market cap with hundreds of trillions of transactions every day, this way, manipulators will hardly have any effect on the market, this is yet to happen now as some of us here assume, people are simply learning to ignore Elon musk, this does not mean the market is free from manipulators, others can still come in the future and cause the same effect Elon caused on the market.
Remember late John McAfee, he manipulated the market until people started ignoring he's tweet, few years later, Elon musk came and did the same thing McAfee did, soon, Elon will go and someone else might come.

This is a decentralized space which means free entry and exit which also further means everyone can do as they want, that is to say the probability of the market building an immune system to prevent manipulators from taking advantage is very low even thoughit sound interesting, except people are ready to embrace regulations to prevent situations like this, only a regulated space is free from personal sabotage, otherwise this things will continue happening because there is no way the market can control the activities of manipulators, this is hard if not impossible under the current circumstance as a decentralized space.

speedforce

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Quote from: Oceat on June 23, 2021, 01:02:17 PM

I would say, no, not really because this market is depending on the movements of traders and they actually move according to the sentiment of whoever whales they're following. Just accept that this is how the market works because if people want some immune system, they just basically ask to not dump when there's a FUD but that doesn't work to some people.

If people did manage to stop riding the pump and dump on those whales then we could actually look for a continuous support to Bitcoin to stay in this current price yet it's not only Musk is doing the FUD news, we have McAfee before and many more.

Its an OK if market move because any news or sentiments, but a movement just because a single tweet from Elon Musk isnt logic at all.
The idea of blockchain is being decentralized, so a centralized manipulation shouldnt work at us in the future is something we expected.

7788bitcoin

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If you are in the cryptocurrency market for a long time you will understand that the market was largely depend upon global news and anything that aided the market rallied the market and whenever there is a negative news the market always goes down and it is like this for years and now we are seeing people like Musk making noises with his tweets and it will die off eventually if he keeps on barking the same thing for a long time.

Fivestar4everMVP

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I believe it is possible for the market to build an immune system against manipulators, but from my point of view, this is not happening now and it's not going to happen anytime soon, for this to effective work, the crypto market must have grown to a higher level far more than where we are right now, for the crypto market to be atleast 98 percent free from manipulators, we have to have market cap of or close to that of Forex market cap with hundreds of trillions of transactions every day, this way, manipulators will hardly have any effect on the market, this is yet to happen now as some of us here assume, people are simply learning to ignore Elon musk, this does not mean the market is free from manipulators, others can still come in the future and cause the same effect Elon caused on the market.
Remember late John McAfee, he manipulated the market until people started ignoring he's tweet, few years later, Elon musk came and did the same thing McAfee did, soon, Elon will go and someone else might come.

Silberman

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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

One thing we must remember is that whales are not an unified group, there are also differences among them, assuming that Elon is still holding his coins, something I doubt, if he tries to crash the price even further I think there are going to be many whales that will be happy to buy his coins, generate more demand and stop any crash that Elon had planned, Elon is going to learn that he is not playing alone and there are many people that have more coins than him and that have been here for longer that know how to manage the market in ways he could never dream of.

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Quote from: Meta anggraini on June 23, 2021, 06:37:11 PM

Quote from: Cherylstar86 on June 23, 2021, 05:57:12 PM

There nothing we can do about what Elon Musk is going to say about his twits, because he's a prominent person in terms of wealth. His popularity made him so famous here un cryptocurrency, and in fact most traders and business personalities made him a role model of success. Even though his throwing a serious and aggressive thoughts against bitcoin; that words coming from his is very iconic.
So don't really rely on that immune system, because this isn't a virus but an emotional battle thay we're facing nowadays.

Its a virus in my perspective, when people rely their investment decision based on a single person tweet.
In the future this thing couldnt happen anymore, people would realize how to invest on the proper way.

lack of knowledge is one of the reason why people are investing based on someone's tweet or advice without realizing that they are putting themselves into bigger risk of losing money. We can't control this one and the only thing that we can do is to spread awareness and to educate people. Influencer are being paid to hype a project, we should know this one and even Elon, I'm pretty sure he's working on some hidden agenda and that's why he continue to hype DOGE.

Not all the time because even myself is much fully aware on how this market moves and how those people get involved do make use of their popularity for the sake of their own shilling out on some coins in the market and for their own benefit which isn't something new into this market.Even you are fully aware
then there are really times which you cant just resist on not to get some involvement specially that you do know that you can really make out of it
even though its risky but it is really worth to try if you are really intently to take or rake out some profits once those movements do start to show off.

Meta anggraini

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Quote from: Cherylstar86 on June 23, 2021, 05:57:12 PM

There nothing we can do about what Elon Musk is going to say about his twits, because he's a prominent person in terms of wealth. His popularity made him so famous here un cryptocurrency, and in fact most traders and business personalities made him a role model of success. Even though his throwing a serious and aggressive thoughts against bitcoin; that words coming from his is very iconic.
So don't really rely on that immune system, because this isn't a virus but an emotional battle thay we're facing nowadays.

Its a virus in my perspective, when people rely their investment decision based on a single person tweet.
In the future this thing couldnt happen anymore, people would realize how to invest on the proper way.

Cherylstar86

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There nothing we can do about what Elon Musk is going to say about his twits, because he's a prominent person in terms of wealth. His popularity made him so famous here un cryptocurrency, and in fact most traders and business personalities made him a role model of success. Even though his throwing a serious and aggressive thoughts against bitcoin; that words coming from his is very iconic.
So don't really rely on that immune system, because this isn't a virus but an emotional battle thay we're facing nowadays.

abel1337

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Quote from: Saisher on June 18, 2021, 06:19:46 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 what I am thinking about the influencers manipulating the market. I know for sure more and more influencers will enter crypto and it is very possible that they could bring their followers into the market. Mr.Beast who is a very famous Youtuber started to promote some projects and believe me or not, some of those projects are dead now. They could effectively manipulate the market like what Elon did but I believe that we can reach the point that immunity from influencers will come.

Oceat

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I would say, no, not really because this market is depending on the movements of traders and they actually move according to the sentiment of whoever whales they're following. Just accept that this is how the market works because if people want some immune system, they just basically ask to not dump when there's a FUD but that doesn't work to some people.

If people did manage to stop riding the pump and dump on those whales then we could actually look for a continuous support to Bitcoin to stay in this current price yet it's not only Musk is doing the FUD news, we have McAfee before and many more.

Julien_Olynpic

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Quote from: Saisher on June 18, 2021, 06:19:46 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.

Of course, people need to learn to think with their own heads, and not trust Musk's tweets. Elon Musk is a technology adventurer and cryptomanipulator. People are too gullible and don't do their own analysis. And this can lead to haphazard trading and loss of the deposit.

Musk has already lost much of his reputation. Tesla accepts payment in bitcoins (when Tesla is purchased with bitcoin), then Musk announces that the cue ball is not environmentally friendly. It spins like a snake in a frying pan. It's the same with dogcoins.

ven7net

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Quote from: Saisher on June 18, 2021, 06:19:46 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 believe that such a system is already being created, or rather, it exists and is developing. As for me, people like Elon Musk, having shown their attitude to cryptocurrencies, in particular to BTC, have earned distrust from the crypto community, and this is a kind of immunity and even a precedent for not trusting influential people such as Elon Musk anymore, so who uses their word to manipulate the market.

jrrsparkles

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Quote from: Saisher on June 18, 2021, 06:19:46 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.

Actually no one has the influence until we allow them to do? Why he looks like a God in the eyes of an investor?

He is also the same human who wanted to get richer so he is trying to make money in the way he can so don't become his victim anymore.

bitterguy28

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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

it can be prevented if the Small investors will not get affected of each manipulation action of whales, because those act only succeed if small players will go sell their coins once manipulation starts dumping the market.
but if we will act as one and will never react to their actions? for sure market will never be shaken again.

SirLancelot

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Quote from: FanEagle on June 19, 2021, 01:40:58 PM

Basically it depends on how many people are following them and when more people are involving into crypto space then those manipulators will obviously lose power because not everyone in this crypto space is necessarily following them and react to them.

Yeah, this crypto space is continuously evolving and when more people are adopting cryptos then we will have more stronger environment which will be resistant to influencer and manipulators. Crypto space is a open for everyone but that doesn't mean anyone can manipulate it according to their own wish. Some big people are currently doing that but I am also very much confident about once people realize them then they will get ignored by most of the people (including non-crypto people) around the globe.

This way I too believe that market or crypto people do not need to build anything to protect us from FUDs but just being aware of why some people are continuously shilling on something then everything will get sorted out over the time for sure.

senyorito123

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Quote from: Saisher on June 18, 2021, 06:19:46 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.

Maybe we don't need him, but with his fortune I believed that's a huge investment that he had. Whether we like it or not Elon Musk had a biggest contribution here in crypto that we shouldn't take for granted. He'd been followed by many experts not with his skills in trading but for the huge influence that he got.

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Quote from: dimonstration on June 21, 2021, 01:19:42 PM

It is like charge to experience to everyone who are now in crypto. Atleast we all learn not to depend our investment inyo anyone but ourselves only. I already learn from ICO before which many projects failed but now that institutions are joining in crypto there be more advertisements that will encourage many to join in crypto but we must not only be depended on hype but also on technical side of the market and learn only to take advantage when there's hype but knew when to stop.

It's really not as easy as all that, to take charge of your life, your decisions, and especially your mistakes. I'll admit I bought a lot of my early crypto using precious Bitcoin and learned later that was mainly a big waste of time. Glad I got out when I did and just stuck to the few alts I had and mainly using Bitcoin to store my crypto savings. But if you never take charge of your mistakes, you're right... doomed to forever repeat them. Just like in real life:)

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