Elon Musk adds #Bitcoin to his Twitter bio - page 6.

Maus0728

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Quote from: pealr12 on January 29, 2021, 09:35:10 AM

Ever since the billionaire becomes a bitcoiner he does nothing more except promote btc on his social media handle, this must be a new found love for him, with Elon Musk on btc corner we should expect a ballistic price pump in coming days Cool

Let the guy shill btc some more, it is good for business Wink

Apparently, Elon Musk is already a crypto guy even before he reached the midst of his success. And no, shilling a volatile market like BTC doesn't even have a single impact to his business and shilling it to people and could spark the hype would only ruin the lives of those whom just got onto crypto world and FOMO-ed by this series of events. Yes it would pump, but its support really isn't that kinda strong to jump onto conclusion that it would reach another ATH.

This event has its consequences. Many would sell with this sudden pump and people - whom just invested because of this, would soon be left hanging and losing their money because of hype.

gurunanakji777

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Today Bitcoin spike is huge as Elon Musk tweets. He is a billionaire and when such kind of personality talks about anything it gives big boost to them but I would say it's overall goods for cryptospace.

BrewMaster

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There is trouble abrewing

why do people think Elon Musk placed the bitcoin in his bio before the rise and not after it? do we have any proof because i heard about it after the rise started and was already on the way. maybe he did too and got too excited that changed his bio and included the #bitcoin in it!

ourkid

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So this is all well and good but where do things go from here?

pealr12

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Ever since the billionaire becomes a bitcoiner he does nothing more except promote btc on his social media handle, this must be a new found love for him, with Elon Musk on btc corner we should expect a ballistic price pump in coming days Cool

Let the guy shill btc some more, it is good for business Wink

stompix

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Quote from: pooya87 on January 29, 2021, 04:49:38 AM

Quote from: arbiter5 on January 29, 2021, 04:36:53 AM

Sure. But everything happened literally at the same time, within a few minutes.

Do you know how long it takes someone to sign up on an exchange, go through their KYC process to verify their account, make money transfer from their bank account to that bitcoin exchange, wait a long time until it reaches the exchange and is credited in their account and then eventually after jumping through all the hoops they can buy bitcoin?

Let him dream!
He thinks that once Musk tweets everyone will suddenly rush to google, find out what they need to buy bitcoins, make an account, transfer money in seconds and buy bitcoin!
He also thinks that the entire planet is at home glued to Twitter, lol.

The ones that had money already on the exchanges were the guys familiar with bitcoin, it's so hard for some to understand that sometimes a billion can't stop a drop on the market while in other times when there are no sell orders because everyone holds it takes a few million to push the price up by 10%.

Quote from: $crypto$ on January 29, 2021, 06:33:14 AM

Elon Musk's tweet is certainly a lot surprising about cryptocurrency even the current trend on social media with the hashtag Elon Musk, of course big investors will be sure what Elon Musk said they believe bitcoi will be a valuable asset even as an investment in the future but is this?

Everyone who is familiar with Musk knows that he likes to troll the *** out of people on twitter.
Remember the overvalued tesla stock drama?

Quote from: voyager23 on January 29, 2021, 09:21:30 AM

Elon puts 1 million in a 0.005 coin.... Hypes it... Sells it...

Let's assume you have $ 200 billions net worth, would you do something like this?

Ridwan Fauzi

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I guess it won't take a long time, every time when Elon Musk makes a statement on his social media then there will be a huge increase to the coin that he referred to. Take a look at what has done with Doge coin, a huge increase has happened in a week after he makes a tweet about doge coin but after that three weeks doge coin made a correction with three red candles.

I guess now it will happen again, agree with those who say panic buying will be accompanied by panic selling because it always happened. The whales just take an opportunity to make short term profit and we should be careful of it. There will be many people who will lose their money especially for those who use future market with huge leverage, they are too overconfident so as they do not realize that the price has taken a dip again.

semobo

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Quote from: voyager23 on January 29, 2021, 09:21:30 AM

This is one of the flaws in crypto.... it's open to "market manipulation" like this......

Elon puts 1 million in a 0.005 coin.... Hypes it... Sells it...

Am I right?

When you got such influence then for sure he can invest in a cheap coin and hype it like what happened now and dump it once he sees a fancy bump.

But this may not work all the time so investment equal to the risk and even people who are manipulating knew it.

voyager23

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This is one of the flaws in crypto.... it's open to "market manipulation" like this......

Elon puts 1 million in a 0.005 coin.... Hypes it... Sells it...

Am I right?

killerfrost

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I like his personality and I believe he is helping this market go up, look at WallStreetBet you will see when Elon Musk's interest in this account has grown to nearly $1m follower. I believe these people are helping this market even more, they've given us the market's crazy ups and downs.

tomahawk9

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Quote from: arbiter5 on January 29, 2021, 05:36:09 AM

You're totally underestimating how much influence Elon Musk has. There's a reason why $TSLA is astronomically overpriced.

this guy gets it. here's a merit

The only thing that can explain this price movement and that will make literally tons of people FOMO buy btc in the upcoming hours/days is that Elon Musk tweet and his new bio. Anyone denying this + the fact that the richest man in the world can have this type of power through social media is a plain fool

fasten your seatbelts ladies, expect another pump once USA wakes up. Thank u, Elon Cool

Viscore

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Quote from: TedMosby on January 29, 2021, 08:10:30 AM

I can confirm that the google trends graph is absolutely true.
because the numbers of people that used my affiliate link to register on a crypto exchange increased significantly today.
seems like the "GameStop, Doge, and Elon Musk" collaboration becomes today's fuel for bitcoin.
also, you guys will see more scammers today that tell you that Elon Musk host a bitcoin/eth/crypto giveaway on a fake site.
just be aware of it.

Are they making the hype now? That seems quiet to see how Elon Musk does this, with the hashtag Bitcoin? Well, that simply creating hype and use his popularity to encourage people to buy Bitcoin at a high price.

But wait, I don't think is really enough to make a huge spike for the hashtag line. Probably not the case why we have this surge, just a coincidence, Elon Musk didn't do anything with the market, nor he is playing around but to suspect this as another drama from different people and uses Elon Musk's identity.

Mbitr

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His tweet has just been included in the bitcoin blockchain

https://twitter.com/documentingbtc/status/1355109827878543361?s=21

Welsh

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As the saying goes, correlation does not equal causation. Although, undoubtedly Elon musk putting that hashtag inside his bio likely had a positive contribution to the adoption of Bitcoin, and certain people would be more inclined the look at Bitcoin favorably, it likely didn't have enough of an impact to impact the market. Of course, some people who see someone like Musk who's probably viewed as a genius, and pioneer by many are more likely to believe in a technology that he appears to support. Although, these will likely be fans, and general users rather than the big cash cows that it requires to be able to manipulate a market.

Having said this the longer he keeps it up, and the more people that see it, can only do good things for Bitcoin's adoption. Honestly, its nice seeing someone like Elon, actively pushing Bitcoin in front of the masses, in a more positive light than the news usually does.

TedMosby

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https://bitcointalk.org/index.php?topic=5274318.0

I can confirm that the google trends graph is absolutely true.
because the numbers of people that used my affiliate link to register on a crypto exchange increased significantly today.
seems like the "GameStop, Doge, and Elon Musk" collaboration becomes today's fuel for bitcoin.
also, you guys will see more scammers today that tell you that Elon Musk host a bitcoin/eth/crypto giveaway on a fake site.
just be aware of it.

blckhawk

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Quote from: tinopener on January 29, 2021, 07:47:47 AM

The price probably spiked due to the fact that many hodlers were biding their time waiting to buy the dip at the lowest point, so quickly bought as they feared Musk's tweet would send the price higher.

Sort of a self-fulfilling prophecy.

Yeah, I'd say that it would be the case. Imagine Bitcoin was just hovering around $30k-$31k and after Elon's tweet, the price suddenly zoom and now about to reach $40k once again. It is true that Elon was an influential person, his enter might not be the major cause of this sudden move but this became a trigger for everyone to come and do the same. This is proof that an influential person can manipulate the whole market. I knew the rally wasn't over.

tinopener

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The price probably spiked due to the fact that many hodlers were biding their time waiting to buy the dip at the lowest point, so quickly bought as they feared Musk's tweet would send the price higher.

Sort of a self-fulfilling prophecy.

posi

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People like Elon cant be trusted when it comes to investment especially in cryptocurrency I have said it on several occasions because they mostly abuse their influential status to lure people into wrong decision making through FUD so they can enrich their pocket and if you guys check most of his tweet yesterday or the day before you'll see that he make FUD statement about stocks that

"u *can* sell stock u don’t own!?
this is bs – shorting is a scam
legal only for vestigial reasons"

I guess he has achieved his aim on Bitcoin and stock is the next move.

I was about to create a thread about the recent change in Elon Musk Twitter account before I saw this thread.

aoluain

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Quote from: ?? on ??

Quote from: arbiter5 on January 29, 2021, 04:10:06 AM

-snip-

Not just Bitcoin, but Dogecoin as well. I sold all of my DOGE last 2017 (I don’t know if the DOGE in my other “old” account is still there (gotta find my details in the email, but I don’t think there’s a lot if it).

I don’t know if he is just trolling or what, but no matter what, he still “advertised” Bitcoin and creates a lot of exposure to his followers.

So yeah, still a good thing though.

Quote from: ?? on ??

This kind of advertisement is great for Bitcoin, Dogecoin and the rest of the cryptocurrencies.
Nice move Elon Wink

If it is trolling, its only a matter of time anyway before he enteres
the Bitcoin space. "In retrospect, It was inevitable"

Dogecoin is just a "Pump and Dump" coin, it has no useage.
30 days ago is was less that $0.001c it pumped to over $0.05c.

RickDeckard

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While this is good for BTC in terms of being even more recognized in the industry, and while the price is also being affected by the attention generated, I don't know how much this will have an impact in the overall adoption of BTC.

Sure it's awesome to see that his using his twitter to spread the word, but I also would like to know that I can buy a Tesla with BTC for example. While there is another thread in the forum that discusses the cons / pros - https://bitcointalksearch.org/topic/will-you-give-your-btc-to-elon-for-tesla-car-5308132 - I know that it isn't a decision that we can do alone (I believe that if it it were for him he would already put it up as an option).

Still, hes spreading the word and that's always free marketing. I just hope that people see it as as a way of making trades besides being a way of investing some part of their wealth.

It's been a really wild week guys ...

Topic: Elon Musk adds #Bitcoin to his Twitter bio - page 6. (Read 1373 times)