Topic: Crypto has become the rich man's playground... - page 4. (Read 826 times)

This is, in principle, inevitable. Since the world of cryptocurrency is open and when a coin enters the exchange, anyone can buy it in any available volume. The attractiveness of the market is in itself a litmus test for capital that has borrowed only to multiply itself and get a return on investment. Another question is that investments need to be protected - and if you bought bitcoin at the price level of $ 50,000 - it is not profitable for you to have it lower, but on the other hand, you may not care if this is just a game for you.

I think some of the billionaires and savouring the popularity contest, I say some billionaires/rich folks because their should be some billionaires who had valued crypto-currency silently or some who crypto-currency made rich and still in it. I don't know if it's for meme, or for motivational quote or what so ever I think the rich are taking the spotlight of what crypto-currency is for, I got a call from a friend wanting to start cryptocurrency and she asked if Elon musk can make her rich, sounds stupid but this is what is it, well is all said in the post, I think a wise crypto-currency user should ignore games coming from game chasing billionaires.

Those billionaires aren't dumb, if they were - you wouldn't be writing this post. It's the followers that are dumb, I'm afraid. That's the only threat there is associated with these attempted manipulations. Not the whales, no someone powerful selling crypto (it only has a temporary effect), but the people, that follow the lead. And that's the main purpose.
If you follow the news it can be seen that the most significant changes in price are driven more often by the info on the media, someone's talks, rather than the actual sellouts.

Most of those Doge holders are just holding it because Elon Musk keeps pumping it.
Many of them don't even know why Dogecoin was created. Although Elon keeps saying that he's bringing new improvements to Doge, we should know the risks when the top 10 wallets of Doge holds the 60% of the supply. This is where the game changes.

DOGE is an exception in that the billionaire comes forward and shows is face (some might say his ugly face). I think most billionaires use crypto as a playground but certainly in the background without getting noticed. We won't see someone else of Musk's calibre step up and pull off similar shit.

Whales will never leave the market as they try to keep manipulating the market whatever chances they see. And with this fact that crypto becomes the rich man's playground, its really happening and i think we are also enjoying and riding with it just like the recent bull run we had for bitcoin and dogecoin bringing its price to the moon.

Rich men will always have the advantage if they want to come and invest in crypto and make it a playground but atleast we should also be smart to play our own game so we will not always the one being fooled at the end of the day.

Cryptocurrency is a playground for everyone. Elon Musk is just manipulating the market because of his tweets, he will pay for what he did.
Everyone in the world can trade on an exchange 24 hours a day and 365 days a year as long as the exchange has no problems or maintenance for a minimum of 10$ (depending on each exchange). deal). People can trade on DEXs (AMMs) of different blockchains without declaring their identity. That shows that the cryptocurrency market is for everyone, not just for the rich.

They might be playing market and take profit for doing that  but i still believe in karma whoever tricks people for their own benefits they will also had the same thing in future . as example doge coin scheme i still believe there is someone behind it playing market price.

Yeah, so it seems, cryptocurrency space is a decentralize space which means people are free to get involve, invest as much as they have and probably try to influence the market in a way to favour them, 
Having big investors coming to invest can be of advantage and disadvantage, they bring in huge funds which is good for the market and also can influence the market with this huge funds, they are like the necessary evil 

I agree with this statement it has indeed become a rich and influential persons playground.
And some are enjoying playing with them while others are afraid because of the fact that they might lose what they have if they couldn't play it right.

This is the logic behind the actions even though you know his motives or not;

He posted about doge or other coins = Logic dictates that market will follow as supporters will follow so you have options:

1. You believe that he buys before he posted so he can sell more after the market go bullish so you don't but thus making you have no profits nor loss
2. You ride with the wave. You buy after he tweeted something, then you make profit out of it. Yes he made profit, but you as well.
3. You buy longer than others, thus make you ride the wave late. Ergo you've loss

It is very obvious now that Elon can't be trusted with the moves he just pulled and I am one of such people who believed too that they must have sold even more than what they said and this was as a result to accumulate more.
I believe it will come to a time when actions from people like Elon would mean less in crypto if they continue trying to manipulate the market because they feel this is a free space.

...and as for the average joe who is a big follower of EM, if he is promoting DOGE for
example they are going to believe he can make them wealthy, if he says Bitcoin
they will move, if he says no to Bitcoin, yes to DOGE, they will move accordingly.

Its true about this saying "Money makes Money" but as I said earlier low income
earners have a limit on what type of investments they can make but there are no
limits with Bitcoin.

My Brother and I are constantly saying, "if we knew then what we know now" !

why would they care to you ? they are only minding their own business .
when you invest you do care to others ? i bet you dont  and that can only affect your performance except if you are a follower of elon because your going to follow what he commands .
billionaires in the world are not few and if they work together they are stronger than us regular people but lets keep the fight going . dont give up

Let them do what they wanted , But keep your Funds on HOLD, This will save you and also others.
because the more we are selling while they are playing the market is the more they gatehring the chance to make bag our money.
Yups, Keeping the faith and Holding? this will not let them take anything from us.

I wonder whether Tesla is still keeping the most of the Bitcoins they bought. I wouldn't be surprised if they sold again more than they announced before. The aim was to manipulate the market in the end. Maybe they sold most of their Bitcoins and they are preparing to buy some more from this level.

Just ignore those billionaires and you will never be affected by the consequences. They try to manipulate the price of cryptos because people like us (not actual like us, they are easier to be affected, trapped in FUD and FOMO) always follow their tweets or any sign they can find

I will keep holding my bitcoin without selling a penny

I think things should be seen in a much broader context than that EM may have angered people who support Bitcoin, because honestly we are still a minority if we consider how many of us there are globally. The average Joe (especially in the US) doesn't care too much about not being able to buy a car with BTC, so he won't boycott EM because of his moves - and if you look at his Twitter profile the current figure is 54.7 million followers - and maybe a month ago there were only 52 million. EM is very firmly connected to government structures and no matter what and how it works, no one will remove it from the throne so soon.

As for the rich starting to take over the game, that’s a fact, and we can’t escape it - but they behave like most ordinary people who didn’t believe BTC could get this far until it exploded in late 2017. Even then, they didn't start to accumulate, because they had to wait for them to be legally allowed to do so - and the whole thing didn't really roll until Q4 2020 when MicroStrategy made its first big move.

The question for you who have been in crypto since 2013 and all those who have been there for years is why didn’t we invest more and leave them less if we could have guessed what would happen? There isn't much difference in the minds of us and them, they just have a lot more money to invest without risking their own existence.

Really? Let's see what happens when the average Joe doesn't buy his cars anymore, doesn't support his actions anymore, starts boycott him and his products, let's see what happens then when the average Joe doesn't give a *. You're underestimating the power of the average Joes, because these are many. We will see how Musk's businesses will go from now on but he already lost a lot of credibility and many are starting to see who he really is. Things will not go as great as before for him. His businesses are not as unique as some may think, he can be easily replaced by better people; people who have better morals and build electric cars and rockets, I'm sure there will be such people in the future.

He should care about "average Joes", because they are the main customers of his Tesla. Rich people buy Tesla cars just for a collection, but "average Joes" buys them, use them daily, buys every car merchandise and etc.
Thanks to "average Joes" so much information noise was created around Tesla, SpaceX, PayPal. These "average Joes" can create so huge negative hype around Elon, so that would ruin all of his companies.