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

[PrimeNumber7]

Elon Musk already showed how quickly he could change decisions and how hard it later impact on the market. What is the point of voting for dogecoin to be accepted as a payment for Tesla, if he could later removed that option with a comment like "Dogecoin is a meme coin, or just a joke. But our cars are not jokes. That is why we are suspending vehicle purchase using dogecoin".

Looks like even Elon's manipulation couldn't prevent Dogecoin from sinking. it has lost 20% of its value against USD during the last 24 hours. At least a section of the new entrants to cryptocurrency seems to have realized that Dogecoin is an overhyped shitcoin with no real usage. During the past few weeks, Elon has done a great deal of damage to the cryptocurrency sector. Those corporations which were considering accepting BTC may have cancelled their plans as of now.

All that Musk has done with DOGE is talk about it mention it. He has not endorsed it, helped with it's development, nor invested in it. Musk has a decent following, but merely mentioning it is not going to be enough to get a lot of people to buy it. IMO, we had a lot of people speculating that Musk will either endorse, invest in, or help develop DOGE, in the hopes that doing so would get others to buy. When this did not immediately happen, these speculators eventually sold off their positions.

This is unlike bitcoin in which Musk has (via Tesla), invested in.

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.

Musk is not telling anyone to buy DOGE. He is merely mentioning it.

Merely mentioning the name "Bitcoin Savings & Trust" is not the same as telling anyone to invest in that poinzi.

[Ultegra134]

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.

It's illegal in the stock market, in the cryptocurrency world, where everything is practically decentralized, Elon Musk and whoever has power to influence people, is free to do whatever he pleases. I find it rather annoying, he has been manipulating the market the past few months, posting trolling Tweets, making decisions known to cause an outrage and now this.

I find it outrageous, it's going out of control. He does as he pleases, if he was doing that with the stock market, he would be behind bars now.

[Vishnu.Reang]

All that Musk has done with DOGE is talk about it mention it. He has not endorsed it, helped with it's development, nor invested in it. Musk has a decent following, but merely mentioning it is not going to be enough to get a lot of people to buy it. IMO, we had a lot of people speculating that Musk will either endorse, invest in, or help develop DOGE, in the hopes that doing so would get others to buy. When this did not immediately happen, these speculators eventually sold off their positions.

That was the case two weeks ago, but now the situation has changed. If you were following the tweets form Elon, you should know. He has openly endorsed Dogecoin after badmouthing Bitcoin. And on top of that, he has stated that he will be working with the Dogecoin developers to make the coin more efficient. Don't you think that Elon is endorsing Dogecoin here? Fortunately for the last 2 days this lunatic seems to have kept his mouth shut. And that helped a lot, and now the exchange rates are stable.

[Fredomago]

Currently, Elon musk is only using his fame on social media to raise and lower the price of Dogecoin, so many investors and traders are stuck with him, we don't know what Elon musk will do next in cryptocurrency because he has a big influence. Currently Dogecoin is very easy to control by Elon Musk, people can fall rich and poor in an instant thanks to social media

Social media  is the best place for Musk to control over this coin, whatever he did followers are just around the corners waiting for their next move after anything that Musk will say.

It's very  tough to play with this project, knowing that manipulation can be done as easy as how Musk is doing it right now, for sure there are many investors and traders who got trapped with this current market movements.

Everything are red and not just Bitcoin and Doge, the influencer really created market shake and people lose their money in a short period of time.

[SirLancelot]

If you were following the tweets form Elon, you should know. He has openly endorsed Dogecoin after badmouthing Bitcoin. And on top of that, he has stated that he will be working with the Dogecoin developers to make the coin more efficient. Don't you think that Elon is endorsing Dogecoin here? Fortunately for the last 2 days this lunatic seems to have kept his mouth shut. And that helped a lot, and now the exchange rates are stable.

Unfortunately the rates are not stable at all, right now there is the biggest drop in crypto for the past year. We are seeing a HUGE 50% drop in bitcoin and many others are doing about the same as well, they are all doing awful. Obviously we are still at 39k+ for bitcoin, 2.7k+ for eth, and 390+ for bnb which are all great compared to just few months ago, those are still very valid, if in 2020 you told me in a year the prices will be this much I would have told you that it is too much and here we are half of the price at the place where I would imagine a lot.

However no matter how "high" it is compared to past, it is still 50% in a week, we were at 64k just recently and we are at 39k or so in bitcoin that is really not something I could have seen. I do not blame Elon for this, as long as people do not sell the price doesn't fall, Elon didn't sell tens of billions today, it was the people who did that.

[Smartvirus]

@OP, I think this was the plan all along, to make bitcoin look bad in a bid to promote Tesla. It ain't about the vote to me, its about the coin in question which is Bitcoin and Dogecoin and putting either it should be accepted or not makes no difference as Bitcoin has already been painted black. All this is just because of the Bitcoin's progress and in time, Dogecoin would get there too and in a way, Elon Musk intends to stay top as the world's richest man through Dogecoin. This he intends to attain by pumping Dogecoin and putting it to a vote could be seen as a deliberate attempt to stir the system just as he did bitcoin in anticipation for a response.

[just_Alice]

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.

It's illegal in the stock market, in the cryptocurrency world, where everything is practically decentralized, Elon Musk and whoever has power to influence people, is free to do whatever he pleases. I find it rather annoying, he has been manipulating the market the past few months, posting trolling Tweets, making decisions known to cause an outrage and now this.

I find it outrageous, it's going out of control. He does as he pleases, if he was doing that with the stock market, he would be behind bars now.

He's a smart guy that wants to make big money, who can blame him? I think people that fall for that are to blame. I mean, look at us here, so many people on this forum realize what's going on and criticize Elon, but what about the rest? Those 4 million that participated in the vote? Haven't they got the brains too? Elon wouldn't have succeeded if there wasn't a sheep flock helping him with that.

[wahyu wida]

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.

It's illegal in the stock market, in the cryptocurrency world, where everything is practically decentralized, Elon Musk and whoever has power to influence people, is free to do whatever he pleases. I find it rather annoying, he has been manipulating the market the past few months, posting trolling Tweets, making decisions known to cause an outrage and now this.

I find it outrageous, it's going out of control. He does as he pleases, if he was doing that with the stock market, he would be behind bars now.

He's a smart guy that wants to make big money, who can blame him? I think people that fall for that are to blame. I mean, look at us here, so many people on this forum realize what's going on and criticize Elon, but what about the rest? Those 4 million that participated in the vote? Haven't they got the brains too? Elon wouldn't have succeeded if there wasn't a sheep flock helping him with that.

I think Ellon is very clever, it's like that I think, it's all part of a clever strategy. What do we blame Ellon for? he can read the odds, he has the ability, and I think he takes advantage of it and ultimately makes a profit. we'll wait what he does after this, after resigning from bitcoin

[Sithara007]

I think Ellon is very clever, it's like that I think, it's all part of a clever strategy. What do we blame Ellon for? he can read the odds, he has the ability, and I think he takes advantage of it and ultimately makes a profit. we'll wait what he does after this, after resigning from bitcoin

The problem with manipulation is that one type of manipulation can be done only once. Now everyone is aware of the intentions from Elon Musk, and he won't be able to do the same time of manipulation again. And his disruptive tactics only had a limited impact, as the prices quickly recovered from $31,000 to $41,000 in just 24-hours. And in all probability, the exchange rates will be back to the previous levels in a couple of weeks. This correction phase provided the whales an opportunity to accumulate coins at low levels.

[DU18]

elon musk has now really succeeded in manipulating the crypto market, with just a few tweets elon musk was able to lift and drop the price of crypto in the market, as happened recently elon musk said if bitcoin destroys the environment in its mining, does elon musk not know how it works bitcoin mining before? Of course, as a CEO, Elon Musk is a smart person and of course he knows how bitcoin has been performing so far, so I think this is more of a deliberate market manipulation by Elon Musk for his personal gain.

[fulcare]

elon musk has now really succeeded in manipulating the crypto market, with just a few tweets elon musk was able to lift and drop the price of crypto in the market, as happened recently elon musk said if bitcoin destroys the environment in its mining, does elon musk not know how it works bitcoin mining before? Of course, as a CEO, Elon Musk is a smart person and of course he knows how bitcoin has been performing so far, so I think this is more of a deliberate market manipulation by Elon Musk for his personal gain.

I would say he was more of a catalyst to a market movement that felt to be inbound anyway. He does have some impact but it' not like he is to blame for a trillion dollars market decline. It was the perfect set up for a crash and may have been even planned.

[bakasabo]

Nothing will happen. Tesla wont make dogecoin as a payment. It was just a fun tweet by Musk. First - such decisions of payment options are not taken based on a twitter poll. Because it is not really objectively; people will say yes to everything Musk says. Second - we all know now how Musk likes dogecoin, it was just another mention of a dogecoin by him.

[Anonylz]

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

And the way some people just follow every crap tweet from him is unbelievable, now people are making a vote for dogecoin to be made as payment option for Tesla, crypto is really full of surprises, what's the point of conducting a poll when he can do and tweet whatever he likes anyways! Elon is for Dogecoin and Dogecoin is for Elon.

[perfect999]

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.

Elon saying that they are not going to be converting every Bitcoin they receive to fiat is what I never believed. Companies that are receiving bitcoin as payment are always converting it to fiat instantly they receive, so I thought to myself that they are never going to do that, unless maybe he said it because that the price of Bitcoin will keep going up and they are going to continue holding it to make more profit at the moment.

Anyways, at the end we have seen how it ended with their acceptance of Bitcoin, maybe they didn’t really do a pretty good research on it and that’s why the sudden change. Let’s see how they go with Dogecoin, a lot of people have believed that he (Elon Musk) is going to be manipulating the price of dogecoin. Let’s see what happens to dogecoin when the market starts going down.

[ahsanif]

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

And the way some people just follow every crap tweet from him is unbelievable, now people are making a vote for dogecoin to be made as payment option for Tesla, crypto is really full of surprises, what's the point of conducting a poll when he can do and tweet whatever he likes anyways! Elon is for Dogecoin and Dogecoin is for Elon.

some consider it a nonsense even a joke and some take it seriously, influencers like him are indeed effective in making an impact even though I see that many sides are disadvantaged

[jaysabi]

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.

You'd have to prove that Elon is intentionally trying to manipulate the price for his own benefit or for the benefit of those who are close to him. It's an almost impossible standard, and one you wouldn't be able to prove circumstantially. You'd need a smoking gun.

[Sithara007]

You'd have to prove that Elon is intentionally trying to manipulate the price for his own benefit or for the benefit of those who are close to him. It's an almost impossible standard, and one you wouldn't be able to prove circumstantially. You'd need a smoking gun.

Even the second part of your post is not straight forward. In case it has been proven that someone who is close to Elon has benefitted from the recent bull run by Dogecoin (I am talking about friends, and not any blood-relatives), you need to further prove that this person has initiated the investment after receiving inputs or funds from Elon. These sort of arguments are not enough if a legal fight ensures in the court. You need solid evidence, such as an email from Elon which asks his friends to invest in Dogecoin, or bank transfer from Elon to his friend in question (or vice versa).

[semobo]

He already took the decision and wanted to convince the people he did that because people wanted it too, Anyone with smart mind will ask such questions in a social media where most of the people don't have any knowledge about what he is asking and its no wonder that many Yes because they don't know what is Doge, they simply voted yes for Elon Musk.

[Beparanf]

He already took the decision and wanted to convince the people he did that because people wanted it too, Anyone with smart mind will ask such questions in a social media where most of the people don't have any knowledge about what he is asking and its no wonder that many Yes because they don't know what is Doge, they simply voted yes for Elon Musk.

Agree on the first part but strongly disagree on the latter part since its people, People without interest on it is not mandatory need to answer the people just like what you are imposing. Probably most the user voted yes was Doge holders and users considering how big the Dogecoin is. I'm not a fan of Elon nor Dogecoin but I know that there community was strong to win that poll though. In fact there will be no repercussions to users if ever they will list that meme coin.

[amishmanish]

1. A businessman selling candies tells you that candy wrappers are valuable.

2. He buys up all the candy paper from the market and tells you to buy it too.

3. Candy paper goes up in value but keeps fluctuating when businessman talks.

4. He says now you can buy his candies in exchange of candy wrapper.

5. Candy wrapper pumps. His bags gain value as he has all the candy wrappers he wanted.

How isn't this openly manipulation?

He shilled an asset and then asking his followers if he should accept it for payments. Isn't this monopolistic or something?

Doesn't matter though. DOGE is a PoW currency. If Musk decides to let people buy Tesla cars with it, maybe a few bag holders will be happy spending it. Its a cryptocurrency. If he chooses DOGE, its his wish. Doesn't mean that DOGE will suddenly become better than Bitcoin.