Crypto order calling guy: Elon Musk and the past and present of the cryptocurrency circle

言币行 · 2023-08-17T13:28:19.000Z

In fact, many friends come to me every year hoping to earn some living expenses or to subsidize their families. I usually advise them not to enter this market if they want to earn living expenses with small funds. This market is a place for ambition and planning. You can even have no principal, but you can’t have no ambition, no expectations, and no planning. If you come to this market with the mentality of just making some living expenses, you will suffer big losses sooner or later. This market is a market for capital, and decentralized reality The above is the centralization of capital. The currency circle claims to be "free", so there is no market supervision. If capital disrupts the market, no one will stand up for you. The currency circle is not as stable as the stock market with market supervision. There is no funds and no planning. Coming in is like being a leek.

In fact, every year many friends who want to earn some living expenses or supplement their family income come to me. I usually advise them that if they want to earn a living with small capital, it is best not to step into this market. This market is an ambitious and planned place. You can even not have principal, but you cannot be without ambition, expectations, and plans. If you come to this market with the mentality of just earning some living expenses, you will suffer a big loss sooner or later. This market is a capital market. Decentralization is actually capital centralization. The currency circle claims to be "free", so there is no market supervision, and no one will stand up for you if capital disrupts the market. The currency circle is not like stocks that have market supervision and stability. Without funds and plans, you will just be a leek if you come in.
Some friends may think that it is a fantasy for capital to disrupt the market. Today I want to talk about a person that everyone is familiar with, Elon Musk, the world’s richest man who was unexpectedly elected as the "Spokesperson of Dogecoin" in 2019 and since then got the opportunity to enter the currency circle.
On April Fools’ Day 2019, the official Dogecoin account launched a vote on Twitter to select the CEO of Dogecoin. In this April Fools’ election, Musk crushed other candidates with an absolute advantage and was gloriously elected as the CEO of “Dogecoin”: “Dogecoin is probably my favorite digital currency. It’s super cool!”
Originally thought it was just a joke, but the next day Musk changed his Twitter profile to "Former CEO of Dogecoin". The final result was that Dogecoin directly increased by more than 20%. In 2021, the popularity of Dogecoin can even be described as crazy.
However, because the cryptocurrency market was in a bear market in 2019, the rise of Dogecoin did not cause much fluctuation, and everyone just thought that Musk would be a passer-by in this market like a meteor.
But soon the cryptocurrency world ushered in its biggest bull market, with major tokens in the market rising wildly. Musk also discovered this interesting market and realized that as long as he praised Dogecoin on Twitter and posted tweets with dogs in them, Dogecoin would continue to rise.
So, what if someone says something bad about Dogecoin?
In the end, a token that was made as a joke met a person who loved to joke. The only ones who couldn’t make a joke afterwards were the leeks, as they were ripped off by the spokespersons they had personally promoted.
As a core developer of yEearn, @banteg was also puzzled by Musk's behavior and said: I don't understand why people in the crypto field applaud Musk for calling for Dogecoin? Musk is simply using crypto to
The world is kidding! Dogecoin has not added any value to the world, and now it is a slaughterhouse for retail investors! !
After Musk caused Tesla's stock price to soar by tens of billions by shouting orders, he soon came under the supervision of the U.S. SEC. After being fined 20 million, Musk was warned that if he disrupted the market again, he would soon be fined again or even imprisoned.
So Musk quickly shifted his attention back to the digital currency market. That's right, because the cryptocurrency circle is free, not subject to market supervision, and not restricted by any person or country, Musk used his old methods again in the cryptocurrency circle and began to call for orders in the cryptocurrency circle.
In March 21, Tesla's official US website announced that it would accept Bitcoin payments. Soon after the announcement, Bitcoin rose by more than $60,000, an increase of more than 20%. At that time, the market joked that Musk was a "shouting expert" in the cryptocurrency circle, who came out to pull up the market when the market was sluggish.
Less than two months later, Tesla announced that it would cancel Bitcoin payments. Musk’s reason at the time was that Bitcoin mining and trading consumed a lot of fossil energy, causing damage to the environment.
The crypto asset market subsequently fell, with the price of Bitcoin being halved from its high point, with a peak single-day drop of 12%.
At The B Word Summit in July, Musk "updated" his views on Bitcoin, claiming that Tesla might once again accept consumers using Bitcoin to buy cars because Bitcoin appears to be using more and more renewable energy. He also emphasized that he is a supporter of Bitcoin and cryptocurrency.
The cryptocurrency world was once again moved by the news, and on July 21, the price rose from US$29,900 to US$32,000, a single-day increase of 7%.
But then, with Musk's repeated hype and calls on Twitter, Bitcoin once again broke through the peak and reached the final high of 69,000. But what followed was that Tesla dehydrated 75% of its Bitcoin, which once again triggered shocks in the currency circle and also marked the end of this round of bull market.

Musk seems to have earned the reputation of manipulating the market, but he probably doesn't care. After all, businessmen always seek profits.
Promoting new energy, exploring immigration to Mars, and leading retail investors in a battle against Wall Street, these labels have made Musk almost a myth.
After entering the cryptocurrency circle with great influence, Musk became the godfather of Dogecoin. Countless retail investors "united" around Musk, and Musk was able to manipulate the entire digital currency market at will.
Under Musk’s tweets, there are still people who naively regard him as a savior.
However, Musk cares neither about environmental protection nor retail investors. Before the bubble burst, the capricious Musk could clear himself of all wrongdoing with a single tweet, leaving the world in a mess.