What if Elon musk launches his own coin? - page 13.

Fredomago

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Quote from: Teraboy on May 16, 2021, 11:15:07 AM

Quote from: Bravehash on May 16, 2021, 02:38:56 AM

If Elon musk launches his own coin I'm not investing because he knows nothing about crypto, I don't forget how many coins McAfee launched and how he ruined many people's life when the coins end up in the dustbin,

he will never try to put lots of his money to the bitcoin and doge coin if he knows nothing about crypto. What thing that will be supporting your assumption if elon knows nothing about crypto.
he was also having some big companies like tesla and spacex.
mcafee is different with elon because the main purpose of he was joining in crypto to scam people.

That's a big difference between the two, Elon Musk knows how to play with the business and before he enter this industry he already have good insight on it,

Unlike McAfee which the intentions is only to bring false information and hypes up collecting money from those scam developers and trick
those newcomers and those greed investors, he doesn't care about his name, he only aimed to bank money.

While Musk introduce crypto to a much wider scope, he's brining more interest to this sphere.

covfefe_

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He have claimed himself an imperator of mars and if Elon Musk is successful in creating a mars colony and an active WAN on the planet, I'm quite sure he'll launch his own mars cryptocurrency as using the current earth economic system would be a step backwards. If the colony on mars thrives and competes with earth, it could be a scifi world with everything autonomous and digital.

Teraboy

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Quote from: Bravehash on May 16, 2021, 02:38:56 AM

If Elon musk launches his own coin I'm not investing because he knows nothing about crypto, I don't forget how many coins McAfee launched and how he ruined many people's life when the coins end up in the dustbin,

he will never try to put lots of his money to the bitcoin and doge coin if he knows nothing about crypto. What thing that will be supporting your assumption if elon knows nothing about crypto.
he was also having some big companies like tesla and spacex.
mcafee is different with elon because the main purpose of he was joining in crypto to scam people.

bittick

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Quote from: warg2017 on May 16, 2021, 04:09:17 AM

I dont think so，i deem Elon Musk is unlikely to launch his own coin, due to create a coin to join the market, there will be resistance from all sides, for example, SEC, Tesla company itself.
I am more inclined to Musk would through operate Dogecoin to gain, because i suspect he has a lot of Dogecoin, maybe Musk would soon announce on Twitter that Tesla supports Dogecoin.

There's rumour going around that elon gonna create a cryptocurrency made specifically for his ambitious project to mars, i think this still relevant since elon also seem to be very invested in crypto technology not to mention he speaks about green crypto recently
and i doubt he gonna get resistance from SEC after all his company always comply with all the rules and regulation also a company as big as that definitely has their own people that works in law to ensure the company is safe from any problem
but yeah, there's also possibility that he would use doge instead but he also concerned with centralization of doge coin in very few addresses.

ILuckyGuyI

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Quote from: Dadan on May 14, 2021, 03:47:08 PM

Quote from: ILuckyGuyI on May 14, 2021, 03:23:28 PM

Who knows, everything can happen when it comes to Elon Musk. Grin

His recent actions were quite weird and he caused eyebrows to raise. He may be preparing for a cryptocurrency move in the future. We know that he is quite interested in this field.

His words are like magic for cryptocurrency traders. In just one tweet, he can pump the coins hardly. I won't surprise if he launches his coins as he looks pretty interested in the cryptocurrency world. For sure, if he launches his own coins, I'll invest all the money that I've saved right now. That's how I'm sure it will be skyrocketed when his coins launch.

It is really a sure thing man. Grin

Elon Musk can cause the price of Dogecoin or any other coins to increase a great deal, as we all know. I can't even imagine what will happen in case he launches his own coin. I will also be investing a lot of money into it.

rodskee

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Quote from: Rruchi man on May 14, 2021, 11:20:41 AM

The name and personality of Elon musk has been trending lately, for good and bad reasons. Some blame him for the recent down in price of btc with his recent tweet, some suspect that he has a plan to manipulate the market to the favour of doge coin which he has recently been a strong advocate for.

What if Elon musk takes this opportunity of popularity and influence to start and launch his own coin to the market?

Do you think an altcoin created by Elon musk will do well in the market?

best if he will try and i Dare Him to because from that we will find how popular he is and how can he change is fortune either to be better or the bad .

He had been trolling the crypto community so it's time to at least move to the next level to show us how he can make things favoring him.

Quote from: Bravehash on May 16, 2021, 02:38:56 AM

If Elon musk launches his own coin I'm not investing because he knows nothing about crypto, I don't forget how many coins McAfee launched and how he ruined many people's life when the coins end up in the dustbin,

Great example to use McAfee and I miss the man lol, How i wish he eaten His P@nis last year.

Peer-Sil

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… just sitting here and buy #Bitcoin ⚡ᥧ

The answer of the question of this thread, is given by Musk himself. He posted recently on Twitter:

Why not just make a crypto from scratch that does everything you want technically and has a lot of dev support and doesn’t have high concentration of ownership at least initially?

Answer by musk: Only if Doge can’t do it. Big pain in the neck to create another one.

https://twitter.com/elonmusk/status/1393749019478970368?s=21

warg2017

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I dont think so，i deem Elon Musk is unlikely to launch his own coin, due to create a coin to join the market, there will be resistance from all sides, for example, SEC, Tesla company itself.
I am more inclined to Musk would through operate Dogecoin to gain, because i suspect he has a lot of Dogecoin, maybe Musk would soon announce on Twitter that Tesla supports Dogecoin.

plr

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Quote from: Rruchi man on May 14, 2021, 11:20:41 AM

What if Elon musk takes this opportunity of popularity and influence to start and launch his own coin to the market?

Do you think an altcoin created by Elon musk will do well in the market?

We never know I am not into the personality behind a coin I'm more on what the coin can give to the community and what its a platform meant to users, if he is just going to create a clone of another coin, it will get support from the start but eventually it will weaken because it will end up a shit coin much more like a pump and dump coin.

sapnu

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Considering how much money he has at the moment, he can do almost anything he wants. If the problem is his location or citizenship being in the US, he can make a solution on that easily. The only problem will be the supporters of the coin he would make. Considering the issue about bitcoin and other coins he ruined, many will people will surely choose not to side with him or to believe in him. Maybe he has a lot of money but it would only fade away as he tries to keep on reviving or surviving the coin he made. His reputation as a crypto enthusiast is quite awful so it wouldn't be very idealistic that he makes his own coin.

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Quote from: Clement Kaliyar on May 15, 2021, 07:46:29 PM

Quote from: judeafante on May 15, 2021, 07:18:33 PM

If SEC will not let him create his own coin he will end up picking the coin where he can be a whale and promote it just like what he is doing right now with Doge, I believe he will not satisfy with Doge, and he will add more coins to his portfolio, he is looking for a good coin to promote his reputation is at stake here, Doge is not a bad start but he should choose a coin that is much better than Doge.

Why would Elon Musk needs the permission of SEC if he wants to create his own coin. There are thousands of coins that are created and many projects that collected over billions of dollars and no project developers took any permission from any authorities even though i think that the projects that collected money will be audited in the future. If Elon releases a coin and never collects money as seed fund then there is nothing to worry from the SEC.
If Elon releases a coin that is beneficial for the market it will be a success and considering his influence in the financial market anything he does turns to gold.

I could be wrong but most of the project that collects money always forbid US citizens from getting involved because that'll spell regulatory problem for their project and maybe Elon will also go through the regulation so if he's really trying to make a project he won't be getting problem in the future, though as I've seen recently many of shitcoins that's only sold through swap platform or dex usually didn't need to go through that regulation for the simple fact that they don't oblige people into buying their shitcoins.

Bravehash

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If Elon musk launches his own coin I'm not investing because he knows nothing about crypto, I don't forget how many coins McAfee launched and how he ruined many people's life when the coins end up in the dustbin,

iTradeChips

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Quote from: Woodie on May 15, 2021, 02:08:32 PM

It might or might not do fine, but seeing how much his moved dogecoin, I think the coin can do fine.

But I see one problem here, him being located in the USA will he be registering a company away from this jurisdiction to avoid any unnecessary tension with the law, compliance checks and all??

Well the sky is the limit let him shot for the stars.

In my opinion, if he is going to make a coin of his own, then chances are he is going to make it outside of the country. But that is also a difficult part, him being an American Citizen, that project would get into a lot of scrutiny from the US government, given their current stance on cryptocurrencies. He must have like an outside team that will be in charge and he can be seen as a founder or co-founder with an agreement to the co-founders. Cryptocurrency is not yet well accepted so he must be at least a bit careful when creating a cryptocurrency of his own.

hulla

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Quote from: Farma on May 15, 2021, 03:47:39 AM

well, I think the crypto made by Elon Musk will be even more successful.

Just as the adage "majority carries the vote" Elon Musk alone or his influence potential cannot make his crypto successfully and if you are a genuine crypto enthusiast you should know that Elon believe more in hype than potential. However, every project that's is not supported by crypto community wont be successful though it can be use as pump and dump scheme by the project owner just like Elon did with Dogecoin.

Quote from: Farma on May 15, 2021, 03:47:39 AM

I am pretty sure that the product for the token will be of very high quality.

No, Elon does not have block chain skills, he's just an engineer and he also said it himself. How can you be so sure his project will be high quality though he can also take the footsteps of CZ by imitating ETH network.

Quote from: Farma on May 15, 2021, 03:47:39 AM

Moreover, if Elon Musk gave an event for the token he made, so many people would be interested in It.

Not every.

Clement Kaliyar

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Quote from: judeafante on May 15, 2021, 07:18:33 PM

If SEC will not let him create his own coin he will end up picking the coin where he can be a whale and promote it just like what he is doing right now with Doge, I believe he will not satisfy with Doge, and he will add more coins to his portfolio, he is looking for a good coin to promote his reputation is at stake here, Doge is not a bad start but he should choose a coin that is much better than Doge.

Why would Elon Musk needs the permission of SEC if he wants to create his own coin. There are thousands of coins that are created and many projects that collected over billions of dollars and no project developers took any permission from any authorities even though i think that the projects that collected money will be audited in the future. If Elon releases a coin and never collects money as seed fund then there is nothing to worry from the SEC.
If Elon releases a coin that is beneficial for the market it will be a success and considering his influence in the financial market anything he does turns to gold.

Viscore

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Quote from: coin-investor on May 15, 2021, 07:02:22 PM

Quote from: MishaSER on May 15, 2021, 12:48:31 PM

I don't think he'll do it. First, the SEC will not allow, let's remember Mark Zuckerberg and Pavel Durov. Secondly, he will ruin his image. If the token is without technology, it will be a long-term failure.

SEC will be the biggest stumbling block if he chooses to launch his coin, on his token he has the money he can hire developers who can develop a technology that will turn up to be a better alternative than those coins in the top 10, but promoting an existing token is much easier than promoting a new coin tot he community, it must have usage and a good platform.

SEC regulation is totally strict but if you will just comply with everything they need and ask for, it will not become a problem. If Mr. Elon Musk will create his own cryptocurrency, he should comply with the SEC and I know he can make it knowing that he is already a businessman but the question if the community had the willingness to support his project after Tesla gives no support with Bitcoin and accepting it as a mode of payment. It could be a worrying part that his project will not able to succeed as possible that the community won't give the support as well.

judeafante

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If SEC will not let him create his own coin he will end up picking the coin where he can be a whale and promote it just like what he is doing right now with Doge, I believe he will not satisfy with Doge, and he will add more coins to his portfolio, he is looking for a good coin to promote his reputation is at stake here, Doge is not a bad start but he should choose a coin that is much better than Doge.

CaVO32

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Quote from: coin-investor on May 15, 2021, 07:02:22 PM

Quote from: MishaSER on May 15, 2021, 12:48:31 PM

I don't think he'll do it. First, the SEC will not allow, let's remember Mark Zuckerberg and Pavel Durov. Secondly, he will ruin his image. If the token is without technology, it will be a long-term failure.

SEC will be the biggest stumbling block if he chooses to launch his coin, on his token he has the money he can hire developers who can develop a technology that will turn up to be a better alternative than those coins in the top 10, but promoting an existing token is much easier than promoting a new coin tot he community, it must have usage and a good platform.

Maybe this is the reason why he is just collaborating with doge dev team. Of course, hiring developers and all is easy peasy from his end. But when it comes to SEC and other regulatory bodies, that will be the bottleneck. And since he is already promoting doge, it seems he decided to strengthen his ties with doge by collaborating with them in order to improve system transactions as per tweet. Doge is an old alt, even if it started as just meme coin, it evolved into something useful for crypto users. However, the transaction fee these days are getting expensive because of the current price of doge. Hopefully, Elon and doge team will indeed improve their transaction efficiency.

coin-investor

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Quote from: MishaSER on May 15, 2021, 12:48:31 PM

I don't think he'll do it. First, the SEC will not allow, let's remember Mark Zuckerberg and Pavel Durov. Secondly, he will ruin his image. If the token is without technology, it will be a long-term failure.

SEC will be the biggest stumbling block if he chooses to launch his coin, on his token he has the money he can hire developers who can develop a technology that will turn up to be a better alternative than those coins in the top 10, but promoting an existing token is much easier than promoting a new coin tot he community, it must have usage and a good platform.

Luqman

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Quote from: Rruchi man on May 14, 2021, 11:20:41 AM

Do you think an altcoin created by Elon musk will do well in the market?

It probably does well for him, but may not for crypto users. Elon musk can manipulate the price of the token at any time, the same as what he did in Doge. He gets money, while people who follow the hype getting a loss. Be careful if he really creates his won coin.

By the way, Elon Musk surely gets another source to take advantage of the crypto world if he launches a crypto coin. But I don't think he will create his own coin, he is a smart manipulator. He can get a problem if he makes his own coin. He must realize it, that's why we never hear he will create his own coin.

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