3.9million users took part in the Elon Musk poll; What will be Tesla's decision?

[Leviathan.007]

It's been almost twenty-four hours since Tesla CEO Elon Musk took to Twitter. He asked his followers in the poll whether they agreed with Tesla agreeing to use the meme coin as a payment option.
So far, 3901106 votes have been counted. Meanwhile, more than 3 million (78.2%) respondents voted "yes" and 21.8% were against.
Earlier this year, Elon Musk announced in a statement that Tesla had begun accepting the world's leading currency code, Bitcoin (BTC), and that the bitcoin received would not be converted into Fiat currency. Tesla also allocated $ 1.5 billion to buy bitcoins. It was later revealed that the company had liquidated ten percent of its BTC assets.
As you know, after Saturday night's broadcast, the DOGE price fell from $ 0.71 to $ 0.44, but the growth of this currency resumed.




Source: https://u.today/will-tesla-add-doge-now-that-39-million-people-have-voted-in-elon-musks-poll

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[slapper]

It is hard to tell what is on his mind but from what I observe, the people now have the power to control everything. The governance shift from the authorities to citizens. And there are more than 3.9 millions people want to share their opinion. The true number maybe even greater.

IMO, Doge is just a memecoin. Its intrinsic value is meaningless. Furthermore, my friend told me that Doge coin is manipulated because there is one wallet holding more than 28% of all doge

source: https://stockhead.com.au/cryptocurrency/big-doge-one-whale-owns-28-of-all-dogecoin-28b-worth/

[Karartma1]

This is by far, and when I say by far I mean it, the most unbelievable thing I've ever witnessed in my crypto life! I don't know how this is gonna end... many people are gonna get hurt.
This is so altcoin P&Ds

[hugeblack]

Someone will not buy Dogecoin to buy a Tesla car. If Elon want to buy Dogecoin as a long-term investment he will buy it before the announcement and therefore the price will increase.

It may be acceptable to use Dogecoin to buy Tesla because they provide cheaper charges but I do not think it will happen, you need to insure the network against 51% attacks which most altcoins will fail in this option.

Dogecoin is short-term speculation.

[NotATether]

IMO, Doge is just a memecoin. Its intrinsic value is meaningless. Furthermore, my friend told me that Doge coin is manipulated because there is one wallet holding more than 28% of all doge

...and is doge even moving from that wallet? Because you can't simply cry manipulation if it's just a dormant amount of money in someone's wallet: e.g. you can't say Bitcoin is manipulated by Satoshi's dormant 5% of bitcoin supply since it's not moving around.


Back on topic, I highly doubt that Tesla will start accepting a highly volatile coin as a payment method, especially when the price movement is a direct result of your CEO appearing on TV.

[Yaunfitda]

This is by far, and when I say by far I mean it, the most unbelievable thing I've ever witnessed in my crypto life! I don't know how this is gonna end... many people are gonna get hurt.
This is so altcoin P&Ds

Yes, as for the extent of his P&D, we all know that tons are going to be hurt once the price goes down.

I think Elon has far surpasses John McAfee as far as shilling is concern. And you can look at his poll to see how influential he is. But as far as Tesla accepting Doge, if it will continue to bring more hype on it for sure Elon will "accept" it in the future. So for him the result is very beneficial for Elon and his company. But not good for the crypto market.

[Vishnu.Reang]

Elon is trying to keep Dogecoin afloat. 2-3 days back, the prices had crashed by 40% within 24 hours. Then there were a few tweets from Elon and the prices again went back to the previous levels. It is clear that he is manipulating the prices. He is exploiting the influence he has in social media, to create a pump-and-dump cycle with Dogecoin. The SEC can't do anything here, because he doesn't own any Dogecoin. He is doing manipulation on behalf of various Dogecoin whales, who have probably promised a substantial chunk of their profits to him.

[stompix]

Elon is trying to keep Dogecoin afloat. 2-3 days back, the prices had crashed by 40% within 24 hours.

Afloat? Take a look at the prices a month or two ago, if he had indeed been buying at the time people assume he did he by now has already made x50 on that investment, doge was well under 1cent before all this madness started. Why would he even try? If he was in just for the money he could have simply ditched this and strated his own coin, you realize what strat that altcoin would have with all the influence he has?
He's no Ver or CSW to resort to desperate moves.
Right now he's doing this for fun, some people buy 200m long yachts, some hunt in Africa, Musk enjoys having a troll day on twitter, probably every time he does even he is suprised by how much influence he has.

He is doing manipulation on behalf of various Dogecoin whales, who have probably promised a substantial chunk of their profits to him.

Lol, are you seriously thinking this?
The world richest man is doing bounty work ?

[Ziskinberg]

Though the result favors DOGE can he keep DOGE pumping?

It was already dumped, and I am not seeing it's growing now as it's been down 2% at the moment. https://coinmarketcap.com/currencies/dogecoin/
DOGE has not come back yet, it might struggle a bit before it will rise or it will go down from here, we don't know.
Elon trying to keep the hype but it will not last forever, or longer, his influence in crypto will be gone soon.

[dothebeats]

They ain't going to risk it IMO. Elon knows that dogecoin is highly inflated, and that there is a certain risk associated to accepting it as a payment method for the cars that they are selling. Many of the board members would surely say no to this absurd plan even if Elon himself pushes it. It's another hype train for Elon and his followers to push doge to higher highs, but not enough to actually render a response from Tesla shareholders on whether or not they would allow doge payments.

What goes up must come down, and I'm sure doge is no exception to that. Elon can't keep things going by his side all the time.

[Theb]

It still depends I don't think he meant something solid on the survey they did when it comes to accepting DOGE as they still need to consider the volatility factor of DOGE which proves to be more unstable compared to Bitcoin as literally it is just a memecoin that is susceptible to hype. If they'll be accepting it because of this survey I highly doubt that they will be keeping and holding it as it is as chances are they'll be converting it immediately so they'll avoid any kind of losses just by accepting it.

[LoyceV]

It's going to be fun when someone who owns billions of Dogecoin decides to dump it on Tesla. Dumping it on the market would cause a flash crash. I guess you can't just click "order 1 million cars" and pay online though

Musk seems to do anything for attention, which increases his stock value. It's kinda amazing it really doesn't matter what he says.

[The Sceptical Chymist]

IMO, Doge is just a memecoin. Its intrinsic value is meaningless.

How do you measure a cryptocurrency's intrinsic value?  If doge's is meaningless, I'd argue that every coin's intrinsic value is just as meaningless. 

I haven't been following this situation all that closely, though I have seen a couple of Youtube videos about it and how doge has exploded in price--and it is truly mind-blowing that 1 doge got to $0.75 or whatever the high was.  That is just mind boggling, and I never would have expected doge to even come close to that valuation in my lifetime. 

And why shouldn't Tesla accept doge?  Honestly, if you're going to buy a car from them and assuming you need a relatively low transaction fee, doge outperforms bitcoin in that aspect (and you'll have a faster confirmation time as well).  I've stated in other threads that doge (as well as most other altcoins) makes for a better currency than does bitcoin.  I'm not saying bitcoin isn't a great investment, just a lousy form of money when you have to spend it.

[Wexnident]

I'd reckon that they already took Bitcoin, they'd rather not take Doge for now. Well as a payment maybe, but as an asset? Nope. I'm pretty sure Elon himself knows that the reason Doge popped off so high is because of he himself and that it's currently standing at pretty much fame right now, and not in its intrinsic value. Well if he accepts it then, well, I can only assume that the man himself is quite serious in making it go higher than it is right now. He's probably trying to be the value that people see in Dogecoin in the long term as well.

[stompix]

It's going to be fun when someone who owns billions of Dogecoin decides to dump it on Tesla. Dumping it on the market would cause a flash crash.

And why would he do that?
Quite funny, if we ask the same question about the Winklevoss brothers and their 100k BTC every bitcoiner would say they will not do something as stupid because it will hurt their own pocket, so why would doge owners who obviously bought those to sell at profit do this?
Besides, what if Musk already has all those billions in coins?  

How do you measure a cryptocurrency's intrinsic value?  If doge's is meaningless, I'd argue that every coin's intrinsic value is just as meaningless.  

Although I believe Doge is a joke every bitcoin maximalist should understand a thing, it's a free market, the price of the coin is the price people are willing to buy it for, 50 cents for Doge and 60k for BTC the principle is the same, the value of all the coins out there expect of the so-called stable ones is derived b the trust people put it in the coin, no matter what future purpose they have in mind.

But seriously, the Doge's ascension is one epic episode in this saga, I love how a meme coin is trashing other coins with billions in ICO sales or Defi features that were meant to revolutionize the world.

[goldade]

No one can actually tell what Elon Musk will do. One thing you should know is that whatever he decides to do will be done with or without the opinions of his followers. If Musk decides Tesla is going to accept Dogecoin, he could make it happen without consulting his followers.
I think he's just trying to get his followers involved in his thought process. I believe he's just trying to see how much of acceptance dogecoin has gained in the mainstream world. Some would think he's just chasing clout doing this but I believe his every moves are actually strategic.

[Vishnu.Reang]

Elon is trying to keep Dogecoin afloat. 2-3 days back, the prices had crashed by 40% within 24 hours.

Afloat? Take a look at the prices a month or two ago, if he had indeed been buying at the time people assume he did he by now has already made x50 on that investment, doge was well under 1cent before all this madness started. Why would he even try? If he was in just for the money he could have simply ditched this and strated his own coin, you realize what strat that altcoin would have with all the influence he has?
He's no Ver or CSW to resort to desperate moves.
Right now he's doing this for fun, some people buy 200m long yachts, some hunt in Africa, Musk enjoys having a troll day on twitter, probably every time he does even he is suprised by how much influence he has.

He is doing manipulation on behalf of various Dogecoin whales, who have probably promised a substantial chunk of their profits to him.

Lol, are you seriously thinking this?
The world richest man is doing bounty work ?

First of all, I am not a conspiracy theorist. But Elon Musk's recent behavior is very suspicious. Previously I would have considered such tweets as pure trolling. But nowadays, the intention is suspicious. Especially his tweet, which came at a time when Dogecoin price was down by 40%. I have to admit that I don't have any proof for any sort of manipulation being done by Elon. But right now a lot of madness is going on with this shitcoin. Maybe I was not logical or rational. But let's wait for a few more weeks and see what happens to Doge. 

[Rikafip]

First of all, I am not a conspiracy theorist. But Elon Musk's recent behavior is very suspicious. Previously I would have considered such tweets as pure trolling. But nowadays, the intention is suspicious. Especially his tweet, which came at a time when Dogecoin price was down by 40%. I have to admit that I don't have any proof for any sort of manipulation being done by Elon. But right now a lot of madness is going on with this shitcoin. Maybe I was not logical or rational. But let's wait for a few more weeks and see what happens to Doge.  

Elon is indeed manipulating the price of Doge, but I think that he is doing that out of boredom and for some shits and giggles, and not because he wants to help some Dogecoin whales.

You have to ask yourself why would richest man on earth help some Dogecoin whales, when he can make some meme shitcoin himself and probably make hundreds of millions that way, if he wants.

He is simply having a field day with Doge and is probably amused how his single tweet can affect price so much.

[BrewMaster]

this is the same old pump and dump scheme that hundreds of pumpers have used on social media, the only difference is that Musk is using it with much more effect.
basically they buy a shitcoin at low prices, then hype the hell out of it to get others to buy that shitcoin too. then as the price keeps going up they unload their bags on the market.

if you thought Elon had a lot of bitcoins just wait until DOGE pump is over and see how much bitcoin he will have made from this pump and dump.

[LoyceV]

this is the same old pump and dump scheme that hundreds of pumpers have used on social media, the only difference is that Musk is using it with much more effect.

Isn't that..... illegal? It's one thing for anonymous pumpanddumpers to do it, it's a different story if it's a billionaire who was already fined $20 million by the U.S. Securities and Exchange Commision for misleading investors.