Bitcoin Forum

Vitalik Bterin in a recent interview told CNN


Do you think or shared Buterin's views that the market will soon build an immune system and how it's going to happen, honestly we don't need people like Elon Musk who has an influence in the market.

It's already happening mate , haven't you feel the air?


look at what he did recently , he tried pumping the market again specially bitcoin but who rides the run? manipulator and BS investors?

but the totality of market does not give a care anymore so this means people now are becoming immune from Elon Musk.

After what happened perhaps people will not ride again with some of his tweets about cypto currency because he's the one who can really make huge profits not those people who always watching him.

Immune system? Well in my opinion if that possible maybe it's already in use since when the market rapidly increasing this year and making all time high value..  In fact how comes  traders and investors can buy low if there's such things to protect the market from manipulators? Perhaps there's no huge profits in crypto currency if that things happen.. Correct me if i'm wrong..

Market has always reacted to tweets in the past but only for short term. We will definitely eventually grow immune to what tweets are saying, you can already see it happening. There was this phase of major dump after negative tweets and market would take days to recover, then we moved onto phase of little dump but fast recovery. I don't see how we can grow completely immune to it as long as people are selling based on one tweet rather than ignoring it, but we will be less effected in the future.

The market can not have anything like that. It is a natural instinct of any market and crypto market is not exclusively. If it can, we don't have any influencer because they are people who can influence both thoughts then decisions of others.

Jamie Dimon, John McAfee, Elon Musk and you will have more billionaire influencers in the crypto market. If you are guys who were panic with Elon Musk, 4 years later, you will have your better immune system with FUD but other newbies who join the market in 2024 or 2025 will react as same as you in this year.

The market does not have immune system to FUD because it always has massive newbies.

Im not sure if the crypto market is 100% from him. The recent tweet about the possibility for tesla to add bitcoin again already given bitcoin another 10% increase in a night.
That means if the people are still buying or selling in any tweet that created by him but it's not too much like what happened at the end of last year.
The crypto can't immune from the influencer especially a guy who has multi million followers.

Are you sure you don't need people like Elon? The views that he has for the world are aimed towards innovative technology is required for sure. Yeah, he influences because of his followers on Twitter, but you shouldn't be affected by this if you decide things on your own. I don't think there will ever be an immune system with the market that someone wouldn't affect. I don't get how the value of the asset would be determined with that, though.

Elon or other influencer will gradually lose credibility as long as their tweet/opinion influence the market against the interest of most users. Just like how it happen with McAffee.

That being said, immunity against this kind of manipulation at all times is probably impossible unless traders and crypto investors start ignoring individual sentiment of the market.

I guess not, is part of fundamental from what "Elon" doing because it makes an impact on everyone same as some legal action from the government. Everyone just following that fundamental, so you cannot control the market.

That's why always put SL to make sure you are safe, In the end after some of this issue has been passed the market will recover. The good things, If you sell before the price drop so much and buying on dip you have more token rather than watching the price is falling and your token/coin amount still same.

I agree that immune system will builded, but however many people will can still influence on many ways, the difference is that the influence impact would be as big as Elon tweet.

So far it was never one person, it was almost always a group of people or companies that did this, it is the first time that we are having it as just one person and that is why it is a bit weird. I understand that people are in shock that one tweet could increase or decrease the price but this was always like that back in the day as well but instead of tweet it was just a news.

I remember a million times when exchanges got "hacked" and people sold to crash it, or had in fightings in projects, or miners creating troubles and making their own coins etc etc long story short there were always a billion things. You think Craig Wright didn't had that power? He dropped it from 6.5k to 3k in an already very dropped market, how do you think bitcoin moved from 20k to 3k? It moved to 6.5k levels, rest was all Craig, same goes with Jihan Wu and Roger ver who increased the price a ton, even that 20k was sort of them, all because they promised more bch for people who have btc. So it was always there, it is brand new that it is just one tweet.

I do now feel the air of resistance to the meddling of Elon Musk in the bitcoin or even in crypto market. I know that everyone already knows the probable hidden agenda of Elon Musk on his tweets that Tesla company will going to accept bitcoin again to purchase Tesla car. It's obvious that he again want to prove to himself if he has a control over the crypto market, that again he can control or make a significant pump and dump in the crypto market but people now learn how to deal with it. I guess through the resistance of the crypto community it can also be called an immune system of the crypto market from any influencer like Elon Musk.

Of course it can but it all depends on the market players themselves, but definitely not completely immune against elon musk moreover if elon keep achieving great things that revolutionize the way human lives.
but, if people always figures out that either elon's shill and fud only temporarily affect the market no one gonna bats an eye anymore and his tweet become somewhat irrelevant, but remember there's always some people who trying to make profit off elon's tweet sentiment
making his influence becomes even greater like for example those bots that set buy order or sell order based on elon's sentiment through his tweet analyzation.

I agree with this point of view,
One person's influence over an industry like crypto is unlikely to last long if they don't bring a lot of positive value to the market.
To me, Elon overused his influence, but it did help the market have a good time anyway.

I doubt about that. the market will always be affected when people like Musk talk about crypto and bitcoin. they have great influence because of their followers. the only thing that will happen is boredom. whenever such people talk too much, people will start to get bored.

like this time where Elon's influence has started to fade as people are tired of seeing what he has to say.

This market has often been manipulated by people like Elon Musk, not all of them can be influenced depending on the momentum and market situation, because basically the market has its own immunity.
we've seen a while ago that Elon Musk tried to create hype again with his Twitter about bitcoin, but it doesn't seem to have much impact, as market sentiment is at its saturation point.

Maybe the market will not have to build an immune system, but traders will need to do that because if you see what happens when the traders read the news or watch videos, they tend to move at the market and try to anticipate before something worst happens to them. It is normal if they do like that because they will make sure that they do not lose much money and can still survive, even in the bloody market.

The key is in the traders. If the traders can calm down with any news that will release later, the price will not move up or down so fast instead the market will moves normally. The bad and good news will always release, but we do not have to panic because of that news.

And we are seeing that the influence of Elon is not as strong as it used to be. There is so much going against the information that Elon gives, and indeed Elon has used influence in a bad way. I think market participants will be wise enough when they lose money and realize the right things in this market.

Lol, sounds more like creating an anti-virus to a known virus, Elon is a known virus to the crypto community and as such it is highly important to create a strong anti-virus for him :D
i completely agree with vitalik, the crypto community can not accommodate so much toxicity in the system, must look for a means of protection, there are several Elon out there that are toxic so a strong immune system is required. This is especially for those who are easily influenced by this virus, they need their immune system be boosted to resist any attack.

this kind of immune system only happen if the user of crypto stays the same or basically the same people using trading crypto over and over, if there's new users these kind of immunity not gonna happen, because most of people need to experience before learning

remember mcAfee? even after that people are still hugely influenced by elon, if we're talking about market immune against elon only then maybe that could happen but there's always someone else who gonna take the position to exploit crypto in the future.
best course of action to protect ourselves is not to have a herd mentality.

They are smart to know when they should do manipulation. If Elon, example, see his tweets don't have too much effect on the market, he will change to become less or no actively tweet about cryptocurrency.

This change will create curiosity in followers and when he tweets again, after months, his tweets will be appreciated again. Who don't want to see Elon Musk tweets? His tweets can be toxic but affect the market and if you see a market is at the end of any triangle, his tweets are funny to support a break out or dump. Very interesting tweets with correlation to market.

I don't like him but I like his tweets as I like Trump's tweets 2 years ago. Trump tweeted, gold price was dumped to negative price. Days later, Trump tweeted again and gold price recovered.

Not having that Herd mentality indeed!

This is the only way on where we can really solve it out because getting rid of people like Elon is something a hard thing to be done specially this guyis way too influential and make out things according to his likes even though we do keep saying that we should ignore this guy but there are still people whom do easily get believed about his calls and own sentiments.

People do learn but it cant be still get rid it off completely.I dont see the point about immune system but rather the community shouldnt really put up too much emphasis or importance then this guy will just normally stop on what he's doing.

He would continue as long as he do seem that there still someone whom do follow nor react on what he's been doing.

obviously impossible, because the influence factor is outside the exchange, then full control is with the users themselves. I think this is against the influencer as well as his followers. Even influencers are more dangerous in their words than government policies. why is that, because still the first rule he can control it all is internal. nothing can stop its influence.
as for another alternative, if a tweet can be filtered first. For example, Twitter filters out crypto-related tweets, but that would obviously be bad for us too.

ah never mind I hate influencers who destroy market prices arbitrarily.

Yes, because everyone will learn from experience. and because of this the system will form naturally. people will become more mature and start thinking about not paying attention to what influencers are doing. This immune system will be created when the people who have been affected have learned and realize what they did was wrong.

Market will realize its potential over the time and then it will move on its own directions regardless of what whales/infulencers/manipulators talk about. I mean crypto people do not need to do anything special for this but over the time those manipulating people will lose their power because people will realize why they are manipulating and then will start ignoring them. Basically it depends on how many people are following them and when more people are involving into crypto space then those manipulators will obviously lose power because not everyone in this crypto space is necessarily following them and react to them.

Yeah, when more people will be ignoring them for any reason then obviously those people will lose their power over the time. They cannot keep fake promises for all the times which will be the enough reason I am believing into that they will easily will get wiped out of this crypto space over the time.

Of course, once the market is shaken, these statements will not be having much impact on the people but when everything is going right, the same statements from some big shot will make investors become bears. It's more about the timing of the statement rather than the person. Most of the time the market follows the sentiment but these big shots are bound to make foolish statements in order to make profits for themselves.

As long as there are people with emotions and feelings,  influencer like Elon will continue to manipulate buyers and sellers into parting out with their money for their selfish gain.  Majority of people who have participated in cryptocurrency trading or investing are usually looking for quick gain and that what makes them vulnerable.  Those that in cryptocurrency for what  positive things cryptocurrency could do for the society will not be easily influenced!

There is nothing to build in a factual sense, it has to do more with the fact that those that are part of this market need to stop listening to what Elon Musk has to say, after all influence is a very frail thing, the influencer believes that the influence comes from him but in fact his power is only as big as those that are being influenced allow it to be.

This mean that if people get tired of him the only thing they need to do is to stop giving him attention, if enough people do this then he will realize his diminishing power and will begin to do even more erratic stuff to get attention again, like what McAfee did when he stated that he will eat his dick if bitcoin did not reached one million by 2020, so I think Elon Musk is going to have a similar fate as he will get desperate to try to regain the influence he lost and will make outrageous statements like that which will lose him even more influence as times goes by.

Trump tweet is more reasonable to move the market since he have control of the Biggest Nation before, for Elon Musk, its just pure of fact that crypto community are easily driven and to be manipulated.
We need to solve this issue in the future by not being influenced too much from Famous people.

But if you think about it though,,, what is happening right now is the immune system already working.

Elon came and the body reacted as it should. Pumping out all the agents to fight it,,, hence market volume and every coin getting traded so much so far. Now we are healing from the after effects but climbing back up. Sounds like an immune system right?:)

Elon will only be stopped if his follower alone will also stop following and believing in him. But even if he keeps on tweeting about the crypto market, people will surely get tired on him in the long run. And when that time bicomes, probably the market has eventually build immune system towards Elon. His tweets will no longer affect the whole crypto market just like what Mc Afee had happened.

Elon is really considered a smart and wise guy but because of his own selfish motives from controlling the market, he will lose his credibility and its already starting to be realize by now.

It is like charge to experience to everyone who are now in crypto. Atleast we all learn not to depend our investment inyo anyone but ourselves only. I already learn from ICO before which many projects failed but now that institutions are joining in crypto there be more advertisements that will encourage many to join in crypto but we must not only be depended on hype but also on technical side of the market and learn only to take advantage when there's hype but knew when to stop.

I think still can, but maybe big or small, market will still get affected by influencer, media and etc. Because beside people who get FOMO or panic, maybe there are some big people who use that influence to move price in market for their own profit. That is why although a lot of people said that they not affected by influence or maybe media, price in market still moved.

what an amazing thought!
I also thought so, if only there was a system in cryptospace that could prevent the decline in altcoin prices caused by prominent people like Elon Musk, because  his tweets are very detrimental to all traders and investors who hold altcoins.

I don't think he is much of an influence anymore as he was in the past. Same with Saylor guy. Both of them had fairly bullish tweets in the last week and price still managed to go down. Musk said that they will accept BTC again when 50% of mining is with clean energy. And Saylor bought $500M worth. In a true bull market we would of had a nice 10% day with that news, however price went down anyways.

So I think that the market is going to ignore most of his tweets unless its something negative like. Tesla sold all BTC or Saylor sold all BTC and flipped short. Then that would cause panic and probably would take us to $20K or lower.

building a system like this is difficult and seems impossible because people are always stuck in FOMO. and the situation is exacerbated by speculators trying to make the market volatile. things like this will continue to happen even in the future though. maybe it's not musk that does this anymore, but maybe bezos, or mark, or some other rich guy did the same thing that elon musk did yesterday. and it will still affect the market.

And people need to stop complaining about it. It is not just crypto,,, the whole world revolves around influence from media and people. So if you do not like it, stop feeding it, stop watching,,, and let it be. The more people hate on it, the more they feed these very things they are complaining about.

People just have to deal with it. Crypto has always been like this:)

It's really not as easy as all that, to take charge of your life, your decisions, and especially your mistakes. I'll admit I bought a lot of my early crypto using precious Bitcoin and learned later that was mainly a big waste of time. Glad I got out when I did and just stuck to the few alts I had and mainly using Bitcoin to store my crypto savings. But if you never take charge of your mistakes, you're right... doomed to forever repeat them. Just like in real life:)

Maybe we don't need him, but with his fortune I believed that's a huge investment that he had. Whether we like it or not Elon Musk had a biggest contribution here in crypto that we shouldn't take for granted. He'd been followed by many experts not with his skills in trading but for the huge influence that he got.

Yeah, this crypto space is continuously evolving and when more people are adopting cryptos then we will have more stronger environment which will be resistant to influencer and manipulators. Crypto space is a open for everyone but that doesn't mean anyone can manipulate it according to their own wish. Some big people are currently doing that but I am also very much confident about once people realize them then they will get ignored by most of the people (including non-crypto people) around the globe.

This way I too believe that market or crypto people do not need to build anything to protect us from FUDs but just being aware of why some people are continuously shilling on something then everything will get sorted out over the time for sure.

it can be prevented if the Small investors will not get affected of each manipulation action of whales, because those act only succeed if small players will go sell their coins once manipulation starts dumping the market.
but if we will act as one and will never react to their actions? for sure market will never be shaken again.

Actually no one has the influence until we allow them to do? Why he looks like a God in the eyes of an investor?

He is also the same human who wanted to get richer so he is trying to make money in the way he can so don't become his victim anymore.

I believe that such a system is already being created, or rather, it exists and is developing. As for me, people like Elon Musk, having shown their attitude to cryptocurrencies, in particular to BTC, have earned distrust from the crypto community, and this is a kind of immunity and even a precedent for not trusting influential people such as Elon Musk anymore, so who uses their word to manipulate the market.

Of course, people need to learn to think with their own heads, and not trust Musk's tweets. Elon Musk is a technology adventurer and cryptomanipulator. People are too gullible and don't do their own analysis. And this can lead to haphazard trading and loss of the deposit.

Musk has already lost much of his reputation. Tesla accepts payment in bitcoins (when Tesla is purchased with bitcoin), then Musk announces that the cue ball is not environmentally friendly. It spins like a snake in a frying pan. It's the same with dogcoins.

I would say, no, not really because this market is depending on the movements of traders and they actually move according to the sentiment of whoever whales they're following. Just accept that this is how the market works because if people want some immune system, they just basically ask to not dump when there's a FUD but that doesn't work to some people.

If people did manage to stop riding the pump and dump on those whales then we could actually look for a continuous support to Bitcoin to stay in this current price yet it's not only Musk is doing the FUD news, we have McAfee before and many more.

This is what I am thinking about the influencers manipulating the market. I know for sure more and more influencers will enter crypto and it is very possible that they could bring their followers into the market. Mr.Beast who is a very famous Youtuber started to promote some projects and believe me or not, some of those projects are dead now. They could effectively manipulate the market like what Elon did but I believe that we can reach the point that immunity from influencers will come.

There nothing we can do about what Elon Musk is going to say about his twits, because he's a prominent person in terms of wealth. His popularity made him so famous here un cryptocurrency, and in fact most traders and business personalities made him a role model of success. Even though his throwing a serious and aggressive thoughts against bitcoin; that words coming from his is very iconic.
So don't really rely on that immune system, because this isn't a virus but an emotional battle thay we're facing nowadays.

Its a virus in my perspective, when people rely their investment decision based on a single person tweet.
In the future this thing couldnt happen anymore, people would realize how to invest on the proper way.

Not all the time because even myself is much fully aware on how this market moves and how those people get involved do make use of their popularity for the sake of their own shilling out on some coins in the market and for their own benefit which isn't something new into this market.Even you are fully aware
then there are really times which you cant just resist on not to get some involvement specially that you do know that you can really make out of it
even though its risky but it is really worth to try if you are really intently to take or rake out some profits once those movements do start to show off.

One thing we must remember is that whales are not an unified group, there are also differences among them, assuming that Elon is still holding his coins, something I doubt, if he tries to crash the price even further I think there are going to be many whales that will be happy to buy his coins, generate more demand and stop any crash that Elon had planned, Elon is going to learn that he is not playing alone and there are many people that have more coins than him and that have been here for longer that know how to manage the market in ways he could never dream of.

I believe it is possible for the market to build an immune system against manipulators, but from my point of view, this is not happening now and it's not going to happen anytime soon, for this to effective work, the crypto market must have grown to a higher level far more than where we are right now, for the crypto market to be atleast 98 percent free from manipulators, we have to have market cap of or close to that of Forex market cap with hundreds of trillions of transactions every day, this way, manipulators will hardly have any effect on the market, this is yet to happen now as some of us here assume, people are simply learning to ignore Elon musk, this does not mean the market is free from manipulators, others can still come in the future and cause the same effect Elon caused on the market.
Remember late John McAfee, he manipulated the market until people started ignoring he's tweet, few years later, Elon musk came and did the same thing McAfee did, soon, Elon will go and someone else might come.

If you are in the cryptocurrency market for a long time you will understand that the market was largely depend upon global news and anything that aided the market rallied the market and whenever there is a negative news the market always goes down and it is like this for years and now we are seeing people like Musk making noises with his tweets and it will die off eventually if he keeps on barking the same thing for a long time.

Its an OK if market move because any news or sentiments, but a movement just because a single tweet from Elon Musk isnt logic at all.
The idea of blockchain is being decentralized, so a centralized manipulation shouldnt work at us in the future is something we expected.

This is a decentralized space which means free entry and exit which also further means everyone can do as they want, that is to say the probability of the market building an immune system to prevent manipulators from taking advantage is very low even thoughit sound interesting, except people are ready to embrace regulations to prevent situations like this, only a regulated space is free from personal sabotage, otherwise this things will continue happening because there is no way the market can control the activities of manipulators, this is hard if not impossible under the current circumstance as a decentralized space.

How can Elon Musk have biggest contribution in crypto? He just create pump and dump condition which isnt a good thing to the market, now market could have another healthy correction to fix it up.

Correct, there will always be someone rich trying to manipulate the market, that is not really a problem since they do this all the time, what people need to do is to learn how to do their own due diligence and decide by themselves what to do with their coins and not let external sources tell them what to do.

Besides even if something like this could be built it will go against the nature of this market, this market was created in such a way that could resist regulations or any measure taken by the governments, to limit the damage those rich people can do to the market then the nature of the market will need to be changed so much that it is simply not worth it, let those people and their manipulations aside and do not listen to them, this is the easiest solution we have available, it is free and easy to implement.

Exactly we do not need anyone to influence the direction of market but due to free and open nature of crypto markets, some people try to control it with their reputation which was built out side of the crypto space. When this crypto space always invites big people and expect them to be participating in adoption of cryptos, those people may try to profits out of their reputation as well. When common individual adopt crypto in more number and trade on their own then these people will fade away.

I do not find it easier to implement because most crypto people are always looking for "signals" on where to buy and what to buy hence these people are easily tricked by highly reputed people and I am not seeing it easier to make such people to trade on their own all of sudden.

To build an "immune system" what the crypto market needs is fundamentals such as: real world use, net "real world"/fiat money inflow one way or another into the ecosystem. Currently 99% is speculation. Even mining is speculation for future prices.
A good thing for instance would be if crypto-related companies vouch for holding certain amounts of crypto and do buy-backs for a minimum value.

The manipulation will only succeed if we as small investors will go with them , i mean the when they try to shaken the market the effect starts to grow when we are also selling but if we will not come along then they will fail because none of our money will goes to their bags .
they are only succeeding when others starts to panic and then the value will fall hard so they will buy back again at lower or cheaper price.

Do you think,bitcoin had now use in real life.You can check the news for the update.Because bitcoin was the investment platform over a period.Many traders influence the market now.Because they want to earn good profit from it.It will be the wish of most of the trader.

I don't think at the moment, but as the people involved mature and avoid making purchases at price peaks and not participating in FOMOs, controlling their greed. Immunity against influencers will appear. Most of the market noise is because people don't know how to control themselves and end up making decisions and taking actions in pure sentimentality, ignoring any planning and initial order. The people who got involved with Musk have now learned their lesson and will certainly not repeat the same mistakes.

At the moment when the cryptocurrency market is regulated, manipulations will disappear, just as they are absent from the stock market. And then manipulators like Elon Musk will have to adhere to the rules. We remember how his manipulations around Tesla were stopped by the SEC and therefore he found a place where such responsibility is currently absent.

The latest tweet he had about doge didn't increase the price of doge that much. So I assume that people are getting a bit smarter about it? I am not sure about it yet because it has been just one tweet but with more and more stuff maybe we could actually start to see people not caring about what he tweets? I am hoping that he tweets about doge these days because back in the day when he did that the price of doge went up and then he helped the crash happen in the last 2-3 months when the price went from 64k to 30k for bitcoin and from over 70 cents to what it is today for doge, yet this time around I want him to tweet and see if the price moves at all.

If he tweets again few more times and the price doesn't change at all, that is a good sign, if he tweets and price moves again then it means he still has influence. At the very least we saw one tweet that did nothing and that is a good start.

I think that Elon Musk does not have much impact on the market, in fact days ago he tried to make a good pump by publishing in favor of Doge, of course in his own way and he did not achieve his mission, the reason is simple, Elon Musk had the heaven won when he tweeted Pro-BTC and was winning with DOGE, but after his huge FUD against BTC under the guise of free energy, he caused disappointment for his BTC followers and even his longtime fans, I think it was the Elon Musk era It is fading, and it is not the only BTC whale that has entered the market. Of course it is my personal perception.

Influncer and Shillers are part of speculative price action, I doubt if a day will come when market will be immune to such practice. People love to be spoon fed and at such, they listen to people that will sell them lies. Little wonder you see lots of people falling for scam and pump and dump coin!

As it is really happening continually, there are people who are lazy not to deal with their own research and

by trusting those influencers and believeing that luck will be on their sides once the market moves, no wonder

why there are still many people who continue following Musk they are willing to ride with him and risk their

money for him

Vitalik isn't wrong about this but that immunity is nearly impossible to establish. Crypto markets are like wild west comparing to regular markets. There is nearly no regulation in many countries. Nearly no way to stop people from overbuy or oversold.

This is sure and it going to happen soon, cause the cryptocurrency market have not really gain the strength to withstand trivial news coming from different sources just to shake the market for a while. Cryptocurrency is still at it early stage bearly not more than 14 year in existence which is comparably very minute to other financial markets. Once the crypto market gains good stand, all jokers, social media manipulators would not have good ground to play with the market anyhow, and investors would have solid ground to invest more in crypto.

I am not sure if my thought process is entirely right, but for a single coin Elon Musk will have influence, maybe even for a couple of coins because he has Tesla. The solution would only be sheer market size. If the market cap is so large that he can't compete with it with his own net worth in in any noteworthy way, that would be the moment I would call it an immune system. I described in another post though as long as he has a company that serves the mass market, he could deploy all kinds of tools to push certain coins, like giving discounts for a while if, and only if you pay with coin X.

The thing about "immunity" is that would that work just for Elon? Or for everyone else? I mean we do not know if we want just the bad stuff, or do we really do not care about the good ones as well? When Elon Musk was saying great things about crypto we were all happy about it, but when he started to say some bad stuff suddenly we started to hate him.

He was talking about 1.5 billion dollar investment to bitcoin, accepting bitcoin for tesla purchases, and then doing much more with dogecoin as well and everything was looking good and I didn't see many people complaining, I tried to tell people that its dangerous yet nobody cared.

However now that in the past one or two months he started to say stuff that is not ideal for the crypto world and the price went down, suddenly people are realizing how dangerous it is for him to have this much influence over crypto prices. Either we get rid of both the goods and the bads or you have to take the bad with the good.

very difficult, unless people ignore influencers. if they still follow and even believe in the words of influencers there will be no way to prevent their influence. there will be no immune system for the crypto market, all will keep repeating itself. and the market will continue to be manipulated. in the future there will always be another Elon musk looking to manipulate the crypto market.

While this is a very valid point you are bringing up, it is of course biased. Manipulation is manipulation. We should ask ourselves if we want manipulation? For the normal investor I would say no. You could also say bad whales and good whales manipulating markets cancel each other out, but it boils down to the fact that the masses have nothing to say actually. I guess you can never fully stop manipulation. Gold is most likely manipulated even though it is a much bigger market.


Good to have guys like you around. I had a similar thought process and I also didn't touch Dogecoin.


Amen! :)

It is easier in the sense there is nothing for anyone to do in order for this to become a reality, any other solution will require the creation of a centralized body to try to regulate the information available to investors or something incredibly difficult like that.

If people still want to receive signals and make themselves rich in the process despite the warnings given by people on the forum almost everyday that this is not possible then that is their choice, a choice that is going to have the opposite effect of what they were looking for since they will keep losing their money to scammers or to influencers like Elon Musk.

Eventually, the market will, but until I see it, I will not believe it will happen.

Elon keeps abusing using his influence in crypto, and although many know about his intention, there are still many who followed him blindly.
Let's just say that it takes time for people to learn and some people learned the hard way, let's just wait until the market will be in a worse situation and we will surely see lots of hate on Elon especially when DOGE will go back to a trashy coin.

It is only like people are already exhausted with such influencer and won't be paying attention anymore to what they say. The market is maturing and so the investors does too.
I think that's the system that he's talking about and there's no actual system but just the common understanding of most of the investors when the time matures more.

The immune system will be adopted that will make the market immune to fud and its already starting like China cracking down which miners are moving somewhere else. One day when all are already informed about what is going on and the war of currencies, the people around the world will likely not mind what Musk will tweet.

When more Bukele like presidents will continue to fast forward the use of decentralized currencies, influencers will be forced to tell the truth.

First of all, Elon Musk is not an ordinary influencer, but one of the richest people in the world, so such people will always have an influence on all financial markets.
When it comes to the cryptocurrency market, its resistance to people like Elon Musk and their actions will build as the maket cap grows. The market cap is growing all the time, so I agree with Vitalik that it is only a matter of time before the market becomes resistant to such manipulations.

but when will it happen. when does the immune system exist? I don't think such a thing will ever exist in the crypto market. In the future there will always be another Elon Musk trying to manipulate the market. and his followers believed easily what he said. this will continue, and there is no immune system in the crypto market. because some people also expect this to pump up the market.

We don't care about those people that are believing Elon because even before, I think I'm one of those that's very optimistic with his belief towards bitcoin.
But it all changed when he drops the bomb to bitcoin and becomes a clown of twitter.

This market isnt really needing any immune or something like that because when it comes to numbers of influencers and personalities that do get involved with this market then theres a bunch
but how they do end up?

Now they've been mostly hated by the community or simply saying that they are now being ignored once it had been prove out that one of their motives was been busted or mostly involved with manipulative
kind of act or behavior.

Its true that this would be a continuous problem because of new people who do come in into the market where most of the time they do get easily believe on whats the news or events that do happen.
They do easily freak out or believe but sooner or later they would really be realizing their mistakes and would learn from it.

In a highly volatile market, it's very unlikely, people are swayed by profit, where the money is, investors will go there regardless of what kind of influencers and projects are being promoted, it will take a very long time for the community to mature even the abundance of materials on how to educate one's self on how to protect the investment, people loves to take a risk.

Alright,
I don't think so, the fact that Elon comes from a personal outburst, it has a degree of harm to the community.  But to be fair, it's still more noticeable than the conspiracies from federal banking associations... Somehow, they're not listed by any but that should lead to symptoms.  much worse.  I guess, but I wouldn't go with Idiot.  I have my dyor.  New people will really hurt.
They have enough freedom to do what they want, not just Elon.  Immunity is just a form of criticism of what could not be better.  Lol

I agree.

The market is still too young to ignore those influencers that don't have anything to do with the market but just rides the hype and promote what they are supporting.

Not all.

And that's why they think that these influencers are their savior.

Although, I don't like Elon, there is no denying the positive moves in the market based on his tweets.  To be fair, there are countless celebs with such fomo moves, not just him.  It will continue to happen.  Everything needs to be natural, although no one can be satisfied with such an outrageous way of distorting values.

it will be difficult because indeed the market has been influenced by hype influencers like Elon Musk so it is very difficult to avoid it all because it has been a market manipulation for a long time to make the market hotter. The speed with which there has been hype has caused the market to have a great attraction so that there is a large market demand that causes prices to tend to rise and have a high value. It is very good to buy and sell them because those moments don't last too long so you have to be quick to sell them.

positive moves effect in the market? are you sure about that? did you even ask yourself what happen tot he market when Elon talks negative in the market? is that bringing any Positivity ?
don't fool yourself mate because Elon is only manipulating the market and that is what we must understand to favor His Desire to make a world out of mars lol.

- Now that we know this is the market's trick to make things hotter, maybe we're also among those who don't want an immune system put in place here because all the advantages in this story will be aimed at investors with perspective and luck, with just one such influence, both the environment changes and the profit rate will be faster than ever. This is clearly our basic requirement from the moment we enter the market, no matter what Elon Musk or influencers know, just knowing the source can generate profits.

it's time now that the market is free from the shadow of Elon Musk's influence, because what Elon Musk has done has completely destroyed the bitcoin price, I can't imagine if the market is under Elon Musk's control and we can see how the market will continue to depend on speculation what he will do later, actually what Elon Musk is doing now is no different from what John Mcaffe did before, which was manipulating the market for his own personal gain...!

I do not really believe that it was Elon that destroyed the price of bitcoin, it was the people who cared what Elon thinks and that is why the price went lower. If Elon wrote all those tweets but nobody cared then Elon would not be able to influence the market, so it was not him tweeting about it then made things go down, it was the people who sold all their coins because he tweeted bad things about bitcoin that made it go down.

This is why I honestly think that it is still quite a decentralized currency, why? Because, Elon might have said some bad things but it was all the people that ended up selling their coins that caused the price to go down. Remove Elon there and put in any other person and as long as people care and buy/sell depending on ANYONE then it is going to be manipulated that way. So I would not give the blame to Elon in this regard, it is the people who buy/sell that are still in power.

if all investors in cryptocurrency market was expert maybe we could see active immune system to prevent centralization from single man or country. Unfortunately we still need influencer to shill and spread about crypto project. they give huge impact to market volatility , especially if come from billionare. cryptocurrency market  truely not centralized since its easy to manipulate by whales, if decentralized system every person have their own stand and independence from any fud.

Unfortunately, newbies will always invest into whatever the influencers say and in the crypto world Elon Musk became one of the biggest crypto investors of all time, dude managed to manipulate the market so much that some useless coin like doge ended up going nearly 30x in few months, it wasn't even high during 2020, it is purely 2021 that we saw doge going up so much and without any reason at all as well.

This is not something he was capable of doing all by himself, a lot of people had to trust and believe him whenever he said something in order to have that kind of power which means others gave him that power via using their money according to whatever he says. I understand that it is hard to understand why would anyone invest into doge just because he said it, makes zero sense, but there were way too many people that did it and I do not see how we can become immune to it since it is already something very silly.

Actually, he can't manipulate the price as successfully as he did before. As I remember, his latest tweets about dogecoin didn't cause any big rises, only 2% and then returns to previous level. So now people understand that dogecoin was just a tool for Musk for speculation, and his promises that he will accept dogecoins for Tesla and use it on Mars( I have heard such claims, but I am not sure if Elon Musk really said this) are leaves without figs. :-X

It could be true and possible things happen in the future. Most of us always follows people if they see easy profit if they do it, so as long they see a people can make a huge impact in the market, they will follow and its create a bigger impact and so on.

Market immunity against influencer will be like our immunity against many variations of covid, sounds funny but its true because the market cant always immune against the influence of influencer, maybe this time its elon musk and tomorrow there will be another influencer that could move the market and that not only happen in crypto market so we can say its fair enough.
What important is how we can read the market movement despite the presence of these big influencers so we wont get trapped in the market instead.

We need to have a counter marketing for that, only thing that can stop these influencers are a counter marketing that goes viral and we could actually end up making being a crypto influencer a humiliating thing. How?

For example, "youtuber" is not a bad thing, you shoot videos for youtube and then you earn money for it, but there were sooooo many bad youtubers that in my nation we mock the job title youtuber, even if they are known and make money we mock that job title, many of them turned into doing something else with the money they made because they felt ashamed for being a youtuber, normally when you look at it there are so many awesome youtube channels that I am madly in love with.

Do the same for crypto influencers on twitter, just keep mocking them and humiliating them for being one, keep mocking them until others join and eventually everyone will be mocking them. If we are successful at mocking everyone constantly then they will be humiliated and stop as well.