Can the market build an immune system against meddling from influencer like Musk - page 4.

leea-1334

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Quote from: Dewi Aries on June 21, 2021, 01:59:06 PM

I think still can, but maybe big or small, market will still get affected by influencer, media and etc. Because beside people who get FOMO or panic, maybe there are some big people who use that influence to move price in market for their own profit. That is why although a lot of people said that they not affected by influence or maybe media, price in market still moved.

And people need to stop complaining about it. It is not just crypto,,, the whole world revolves around influence from media and people. So if you do not like it, stop feeding it, stop watching,,, and let it be. The more people hate on it, the more they feed these very things they are complaining about.

People just have to deal with it. Crypto has always been like this:)

kidbounty

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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.

adaseb

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I don't think he is much of an influence anymore as he was in the past. Same with Saylor guy. Both of them had fairly bullish tweets in the last week and price still managed to go down. Musk said that they will accept BTC again when 50% of mining is with clean energy. And Saylor bought $500M worth. In a true bull market we would of had a nice 10% day with that news, however price went down anyways.

So I think that the market is going to ignore most of his tweets unless its something negative like. Tesla sold all BTC or Saylor sold all BTC and flipped short. Then that would cause panic and probably would take us to $20K or lower.

CutePanda

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what an amazing thought!
I also thought so, if only there was a system in cryptospace that could prevent the decline in altcoin prices caused by prominent people like Elon Musk, because his tweets are very detrimental to all traders and investors who hold altcoins.

Dewi Aries

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I think still can, but maybe big or small, market will still get affected by influencer, media and etc. Because beside people who get FOMO or panic, maybe there are some big people who use that influence to move price in market for their own profit. That is why although a lot of people said that they not affected by influence or maybe media, price in market still moved.

dimonstration

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Quote from: aprilnot on June 19, 2021, 10:28:16 AM

Yes, because everyone will learn from experience. and because of this the system will form naturally. people will become more mature and start thinking about not paying attention to what influencers are doing. This immune system will be created when the people who have been affected have learned and realize what they did was wrong.

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.

Kasabus

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Quote from: clarkt on June 20, 2021, 03:50:45 AM

As long as there are people with emotions and feelings, influencer like Elon will continue to manipulate buyers and sellers into parting out with their money for their selfish gain. Majority of people who have participated in cryptocurrency trading or investing are usually looking for quick gain and that what makes them vulnerable. Those that in cryptocurrency for what positive things cryptocurrency could do for the society will not asbe easily influenced!

Elon will only be stopped if his follower alone will also stop following and believing in him. But even if he keeps on tweeting about the crypto market, people will surely get tired on him in the long run. And when that time bicomes, probably the market has eventually build immune system towards Elon. His tweets will no longer affect the whole crypto market just like what Mc Afee had happened.

Elon is really considered a smart and wise guy but because of his own selfish motives from controlling the market, he will lose his credibility and its already starting to be realize by now.

leea-1334

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But if you think about it though,,, what is happening right now is the immune system already working.

Elon came and the body reacted as it should. Pumping out all the agents to fight it,,, hence market volume and every coin getting traded so much so far. Now we are healing from the after effects but climbing back up. Sounds like an immune system right?

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Quote from: OcTradism on June 19, 2021, 06:20:57 AM

Quote from: elda34b on June 18, 2021, 12:30:52 PM

Elon or other influencer will gradually lose credibility as long as their tweet/opinion influence the market against the interest of most users. Just like how it happen with McAffee.

That being said, immunity against this kind of manipulation at all times is probably impossible unless traders and crypto investors start ignoring individual sentiment of the market.

They are smart to know when they should do manipulation. If Elon, example, see his tweets don't have too much effect on the market, he will change to become less or no actively tweet about cryptocurrency.

This change will create curiosity in followers and when he tweets again, after months, his tweets will be appreciated again. Who don't want to see Elon Musk tweets? His tweets can be toxic but affect the market and if you see a market is at the end of any triangle, his tweets are funny to support a break out or dump. Very interesting tweets with correlation to market.

I don't like him but I like his tweets as I like Trump's tweets 2 years ago. Trump tweeted, gold price was dumped to negative price. Days later, Trump tweeted again and gold price recovered.

Trump tweet is more reasonable to move the market since he have control of the Biggest Nation before, for Elon Musk, its just pure of fact that crypto community are easily driven and to be manipulated.
We need to solve this issue in the future by not being influenced too much from Famous people.

wxa7115

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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.

There is nothing to build in a factual sense, it has to do more with the fact that those that are part of this market need to stop listening to what Elon Musk has to say, after all influence is a very frail thing, the influencer believes that the influence comes from him but in fact his power is only as big as those that are being influenced allow it to be.

This mean that if people get tired of him the only thing they need to do is to stop giving him attention, if enough people do this then he will realize his diminishing power and will begin to do even more erratic stuff to get attention again, like what McAfee did when he stated that he will eat his dick if bitcoin did not reached one million by 2020, so I think Elon Musk is going to have a similar fate as he will get desperate to try to regain the influence he lost and will make outrageous statements like that which will lose him even more influence as times goes by.

clarkt

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As long as there are people with emotions and feelings, influencer like Elon will continue to manipulate buyers and sellers into parting out with their money for their selfish gain. Majority of people who have participated in cryptocurrency trading or investing are usually looking for quick gain and that what makes them vulnerable. Those that in cryptocurrency for what positive things cryptocurrency could do for the society will not be easily influenced!

johnwest

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Of course, once the market is shaken, these statements will not be having much impact on the people but when everything is going right, the same statements from some big shot will make investors become bears. It's more about the timing of the statement rather than the person. Most of the time the market follows the sentiment but these big shots are bound to make foolish statements in order to make profits for themselves.

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

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.

Market will realize its potential over the time and then it will move on its own directions regardless of what whales/infulencers/manipulators talk about. I mean crypto people do not need to do anything special for this but over the time those manipulating people will lose their power because people will realize why they are manipulating and then will start ignoring them. 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.

Quote from: aprilnot on June 19, 2021, 10:28:16 AM

This immune system will be created when the people who have been affected have learned and realize what they did was wrong.

Yeah, when more people will be ignoring them for any reason then obviously those people will lose their power over the time. They cannot keep fake promises for all the times which will be the enough reason I am believing into that they will easily will get wiped out of this crypto space over the time.

sapnu

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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.

There's a high possibility that over time, the market will be able to build an immune system against social media meddling. Elon Musk might have the spotlight right now and he is showing off how much influence he has in the market right now through hyping up dogecoin up until now and bitcoin for a while cause he ended up removing it as a mode of payment for TESLA all of a sudden. People will suddenly soon grow tired and used about all the things he is saying and also we should see if he is a reliable source of crypto information and suggestion not on the money he has all of the time.

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.

aprilnot

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Yes, because everyone will learn from experience. and because of this the system will form naturally. people will become more mature and start thinking about not paying attention to what influencers are doing. This immune system will be created when the people who have been affected have learned and realize what they did was wrong.

terrorJR

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obviously impossible, because the influence factor is outside the exchange, then full control is with the users themselves. I think this is against the influencer as well as his followers. Even influencers are more dangerous in their words than government policies. why is that, because still the first rule he can control it all is internal. nothing can stop its influence.
as for another alternative, if a tweet can be filtered first. For example, Twitter filters out crypto-related tweets, but that would obviously be bad for us too.

ah never mind I hate influencers who destroy market prices arbitrarily.

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Quote from: VanDeinsberg12 on June 19, 2021, 05:50:40 AM

this kind of immune system only happen if the user of crypto stays the same or basically the same people using trading crypto over and over, if there's new users these kind of immunity not gonna happen, because most of people need to experience before learning

remember mcAfee? even after that people are still hugely influenced by elon, if we're talking about market immune against elon only then maybe that could happen but there's always someone else who gonna take the position to exploit crypto in the future.
best course of action to protect ourselves is not to have a herd mentality.

Not having that Herd mentality indeed!

This is the only way on where we can really solve it out because getting rid of people like Elon is something a hard thing to be done specially this guyis way too influential and make out things according to his likes even though we do keep saying that we should ignore this guy but there are still people whom do easily get believed about his calls and own sentiments.

People do learn but it cant be still get rid it off completely.I dont see the point about immune system but rather the community shouldnt really put up too much emphasis or importance then this guy will just normally stop on what he's doing.

He would continue as long as he do seem that there still someone whom do follow nor react on what he's been doing.

OcTradism

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Quote from: elda34b on June 18, 2021, 12:30:52 PM

Elon or other influencer will gradually lose credibility as long as their tweet/opinion influence the market against the interest of most users. Just like how it happen with McAffee.

That being said, immunity against this kind of manipulation at all times is probably impossible unless traders and crypto investors start ignoring individual sentiment of the market.

They are smart to know when they should do manipulation. If Elon, example, see his tweets don't have too much effect on the market, he will change to become less or no actively tweet about cryptocurrency.

This change will create curiosity in followers and when he tweets again, after months, his tweets will be appreciated again. Who don't want to see Elon Musk tweets? His tweets can be toxic but affect the market and if you see a market is at the end of any triangle, his tweets are funny to support a break out or dump. Very interesting tweets with correlation to market.

I don't like him but I like his tweets as I like Trump's tweets 2 years ago. Trump tweeted, gold price was dumped to negative price. Days later, Trump tweeted again and gold price recovered.

VanDeinsberg12

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this kind of immune system only happen if the user of crypto stays the same or basically the same people using trading crypto over and over, if there's new users these kind of immunity not gonna happen, because most of people need to experience before learning

remember mcAfee? even after that people are still hugely influenced by elon, if we're talking about market immune against elon only then maybe that could happen but there's always someone else who gonna take the position to exploit crypto in the future.
best course of action to protect ourselves is not to have a herd mentality.

Anonylz

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Lol, sounds more like creating an anti-virus to a known virus, Elon is a known virus to the crypto community and as such it is highly important to create a strong anti-virus for him Cheesy

i completely agree with vitalik, the crypto community can not accommodate so much toxicity in the system, must look for a means of protection, there are several Elon out there that are toxic so a strong immune system is required. This is especially for those who are easily influenced by this virus, they need their immune system be boosted to resist any attack.

Topic: Can the market build an immune system against meddling from influencer like Musk - page 4. (Read 721 times)