Making investmets based on Elon Musk Tweets - page 2.

kryptqnick

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Quote from: ConnerDalfino on May 26, 2021, 01:50:16 AM

Unpopular take but this is inevitable as bitcoin grows. Say the ultimate theory of hyperbitcoinization comes to pass in 20 years or something. Do you think everyone owning bitcoin is anarchist intellectual fighting the good fight? No... Bitcoin is going to be like water to the fish that swim in it, and 99% of the people won't care about it beyond that.

People buying bitcoin due to Elon's tweets will come and go and cause volatility, but it's an inevitable step in the larger journey of this technology. Gatekeeping will only cause your own blood pressure to go up, so I'd just make sure I got my keys in a safe place, buy the dips that result from these sudden adoptions and go with the flow.

Also, every newbie who comes along because of Elon has a chance to evolve into a lifelong holder. In the short term, it can be annoying but in the long term, it'll strengthen bitcoin.

What are your thoughts?

I think that as the market grows and more people use Bitcoin, it will eventually become less volatile. Elon Musk's opinion is important to some people, but if there were significantly more users, there would be a lower chance of his audience making a big impact because the community would be more diverse and people would admire different celebrities. So when one such guy says something bad about Bitcoin, his admirers will still sell their coins, but it will be insignificant for the market overall.
On a side note, buying and selling based solely on his tweets is a bad idea even nowadays when he has some power because many other factors contribute to price changes.

Pmalek

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Quote from: buharikx31 on May 26, 2021, 07:01:10 AM

...as we can remembmer at 2015 when ICO's where really popular campaigns which had some celebrities on them got some preety nice prices after the ICO and even I joined them, but they all went down in price unfortunatally but really obvious the expect that to happen time and time again media are really impactfull right now

Think about it: Why did those campaigns hire famous actors, athletes, or musicians to advertise their brands? It's because they are targeting people who follow the likes of Snoop Dogg, Floyd Mayweather, or Steven Seagal to tell them what is good, how to be trendy, and what to do. A powerful coin would focus on the strength of its services and use cases, not on the social media reach of its ambassadors.

Quote from: isaac_clarke22 on May 26, 2021, 07:13:25 AM

Back when McAfee was popular due to his challenges that he will eat his...thing, though I know that's just a joke, I never even thought that he was like pushing or hyping people to invest in Bitcoin.

I wasn't talking about his statements on bitcoin. McAfee had something like the coin of the day where he tweeted about ICOs he thought (or promised) would change the world Roll Eyes

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WillieTruman

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The energy consumption of mining that Musk said is essentially a pretense to induce investors in the currency circle。
To measure the value of digital currency, you must have the following three points
1. Preemptive market consensus, such as Bitcoin, preemptive mental occupation + scarcity (mainly wealth storage, does not have many currency functions)
2. Digital currency endorsed by national credit, authoritative
3. It can bring convenience and practicality to improve the efficiency of human life
Investing based on Musk’s tweets is a joke。
If a currency does not have the scarcity, authority, or practicality based on consensus recognition, then the so-called low energy consumption has no meaning to the value of the currency, and it is more like an air currency attribute. Musk has only one purpose, using something like Dogecoin under the guise of low energy consumption，Give everyone a hope, and then this hope is ruthlessly obliterated。

husnija

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i thought it would be a bad and incorect decision. indeed we can't stop him from making a tweet at least we are not swayed by what is said, because it will make him addicted and the profits he gets continue to flow

pinggoki

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This is probably one of the bad decisions that people are making. Depending on other person your investment is really a bad idea because before you invest you are the one who will be able to find and do your own research in order for you to learn on where you should invest because at the end of the day the person you will trust is always yourself and at the end of the day it is your own money and you must be the one who will decide on where you should invest it.

harapan

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The big question with elon musk participation in crypto is if the users he's driving to crypto would be here for the long term or if they are just here for the short term gain and insane pumps and nothing more than that? So far, it's looking like the latter. I just told myself that I would do whatever I want to do with my Nitcoin not minding what the opinion of elon musk and others are. even all his efforts on dogecoin parade only has short term effects.

virasisog

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Elen had publicized crypto and I think it had brought a lot of new comers into crypto market. However, people should understand that crypto investment should be based on your own research and not because someone tweets it. Elen had been a market changer due to its tweets this bull market. As we know, the market can still be driven by news, updates and knowing Elon as an influential man he had a huge impact in crgpto as a whole. Keep in mind, your money, your investment.

MCobian

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Quote from: imstillthebest on May 26, 2021, 05:43:27 PM

Quote

Bitcoin is going to be like water to the fish that swim in it, and 99% of the people won't care about it beyond that.

fish cares in the water because this is where they live but for us humans some of us can care less in Bitcoins because we can still live without it but for most of the bitcoiners ,
Bitcoin is already their life as it gives them wealth that they never had before .
Musk is a threat to btc , that's why many bitcoiners are doing an effort to fight and stop musk .

I feel Bitcoin is very important to my life, because Bitcoin has changed my life for the better. Therefore I am one of the bitcoiners who feel Bitcoin
has become a part of my life, and I am also sure that almost all bitcoiners think so. So ever since Elon Musk started wreaking havoc in the crypto
world by manipulating prices, this has worried bitcoiners. Because Elon Musk has a bad influence on Bitcoin at this time, so a lot of bitcoiners
started appearing to stop Elon Musk. Hopefully Elon Musk can understand with a lot of criticism against him, not to create problems again in
the crypto world. Because for Elon Musk, maybe crypto is just a toy, even though for bitcoiners Bitcoin is very important.

imstillthebest

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Quote

Bitcoin is going to be like water to the fish that swim in it, and 99% of the people won't care about it beyond that.

fish cares in the water because this is where they live but for us humans some of us can care less in Bitcoins because we can still live without it but for most of the bitcoiners ,
Bitcoin is already their life as it gives them wealth that they never had before .
Musk is a threat to btc , that's why many bitcoiners are doing an effort to fight and stop musk .

aoluain

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IDK, the jury is out regarding EM.

Is he good or not so good for the Bitcoin space? short term probably not so good,
too many U turns and contradictions, not knowing exactly what he thinks.

There are definitely people who act on his tweets, I would also like to hope that
1. The majority of people dont get burned and
2. The majority of people are able to look to the future

finaleshot2016

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I agree that Elon is a great help to the crypto community. Imagine that he brings a large number of people or newcomers to the community, a new ATH of crypto members who are investing in it. The only thing I despise is that the majority of them become an offering for him to make a lot of money during the peak. My friends are among those offering; they became interested after learning that the CEO of Tesla and SpaceX is participating in this year's crypto bull run, but they didn't realize it was all a marketing ploy from the start.

Well, this may have a negative impact as well, as people may leave the community as a result of a significant loss. So if you have friends that want to invest in crypto because of a public figure, it's better to suggest TAYOR (Trade at your own risk) than TBET (Trade because of Elon Tweets).

adzino

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If you are talking about making instant profit when Musk tweets about bitcoin, then yeah you can take advantage of it. But its easier said than done. By the time you read the tweet, you will already see the pump happening. You maybe too late. Too risky, but if you can enter early and exit at the proper time, you will like make some good profit.

Quote from: ConnerDalfino on May 26, 2021, 01:50:16 AM

Also, every newbie who comes along because of Elon has a chance to evolve into a lifelong holder. In the short term, it can be annoying but in the long term, it'll strengthen bitcoin.

What are your thoughts?

True. He might create some volatility, but at least more people are entering the market and knowing how crypto currencies work. As more people enter, the stronger the market will be. The more the people learn, the less the market can be manipulated.

uneng

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Elon Musk has some influence in bitcoin price, but it is limited as we can see. Maybe he thought he could *kill* bitcoin if he wishes and resurrect it later when he wants, but in fact he was just able to drop the market in part with his FUD, which was followed by a deeper correction due to speculators cashing out, following the trend, as it's normal always the price starts falling due to an exceptional event.

Quote from: ConnerDalfino on May 26, 2021, 01:50:16 AM

Also, every newbie who comes along because of Elon has a chance to evolve into a lifelong holder. In the short term, it can be annoying but in the long term, it'll strengthen bitcoin.

I agree with you. Moreover, I think on long run people will get tired of his tweets, jokes and with so many unstable opinions changing every few days he is probably going to lose influence in crypto market. As investors become more mature and experienced they need less influencers' opinions each new day.

carlfebz2

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Quote from: Renampun on May 26, 2021, 02:30:52 PM

those who invested in crypto because they saw Elon's tweet = newbie...

With more than 50 million followers on Twitter, I'm sure many are investing in crypto, especially doge because of Elon's tweets. they have absolutely no experience and definitely cut losses when the market is bearish, they are very stupid for investing based on someone's tweets.

One of the most common scenario that happened on where there are noobs who had eventually lost up their investment on this recent crash or price dump in the market.

Out of those number of followers then its impossible not to say that they are all knowledgeable about crypto which means majority of them are newbie and no surprise that they

get wrecked after this dump and for sure it would leave out negative impression once again in crypto as general but hopefully those fellas would able to realize on whats the truth.

Renampun

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those who invested in crypto because they saw Elon's tweet = newbie...

With more than 50 million followers on Twitter, I'm sure many are investing in crypto, especially doge because of Elon's tweets. they have absolutely no experience and definitely cut losses when the market is bearish, they are very stupid for investing based on someone's tweets.

Asuspawer09

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Quote from: ConnerDalfino on May 26, 2021, 01:50:16 AM

Unpopular take but this is inevitable as bitcoin grows. Say the ultimate theory of hyperbitcoinization comes to pass in 20 years or something. Do you think everyone owning bitcoin is anarchist intellectual fighting the good fight? No... Bitcoin is going to be like water to the fish that swim in it, and 99% of the people won't care about it beyond that.

People buying bitcoin due to Elon's tweets will come and go and cause volatility, but it's an inevitable step in the larger journey of this technology. Gatekeeping will only cause your own blood pressure to go up, so I'd just make sure I got my keys in a safe place, buy the dips that result from these sudden adoptions and go with the flow.

Also, every newbie who comes along because of Elon has a chance to evolve into a lifelong holder. In the short term, it can be annoying but in the long term, it'll strengthen bitcoin.

What are your thoughts?

I mean it works, we can't deny that Elon Musk's tweet has a big effect on the market as we can see Elon Musk can pump and dump bitcoin using his tweets.

It's kinda risky but if you know what you are doing I think you could pretty much go in make a profit and get out in an investment depending on Elon musk tweets, but it wasn't always guaranteed since the market is difficult to predict so you don't know if the market is gonna crash or pump, it might react differently just like what happened to the DOGE coin.

I've read a lot of tweets where they lose everything of their money because they invested it in DOGE coin which is already too risky because it is a meme coin. So I guess you could still follow Elon tweets but don invest YOLO everything.

irsykes

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If me, but disclaimer this is only personal opinion. Because we already seen it so many times, about influencer or maybe big people who talk about crypto, it suddenly rising. If me i will take that as advantage maybe buy some with small portion of my capital, and after rising we can sell it. If they turn back and say bad about it, and we already hold good coin like bitcoin, just hold it especially if we're still in position that we can afford to lose.

AbsentMinded

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This is very risky strategy, you can get burned because of this, there is a lot of other strategies that can make you money in a long run.

Gozie51

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Whether Elon musk tweet or not pushing people to buy, I don't see any wrong or ass licking on that if they buy in the dip to wait for another turn of bull. The business sense is more appropriate to buy in the dip and so if that happens because musk tweet is same as same and nothing more to it, just a prompt business decision.

AicecreaME

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Quote from: mk4 on May 26, 2021, 04:16:42 AM

The Elon thing is bitter-sweet. He's bringing a lot of participants into Bitcoin and cryptocurrencies in general, but it's in exchange for a lot of them going to get burned. Is the temporary spike in publicity worth the bad taste some of them will have? Probably, probably not; but whatever— markets gonna market, dumb people are going to do dumb things, and all this stuff will just be small blips in the long term.

Exactly.

Elon is the biggest whale of Dogecoin and a whale for sure on Bitcoin as well. If people are gonna get hyped as well just because of his tweets, bless them to make a good decision on when to exit the market of whatever they bought just because of someone's else's decision. I guess many people would be trapped and would get buried on DOGECOIN and SHIBA-INU because it's all just meme coins in my opinion.

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