What if Elon musk launches his own coin?

[Sanitough]

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?

It'll be a pump-dump coin for sure as Elon Musk is doing all of this for his own entertainment/satisfaction and he'll left this market just like John McAfee who influenced so many users back in 2018's bull market. So, that coin won't be good for crypto industry as every country takes crypto in a negative way and if Elon launch his own coin which becomes a pump-dump coin, than many users will be rekt. As a result, it'll create a bad impact on crypto market and countries will have more oppertunities to question about this market.

Elon Musk will probably hype his own coin if he creates himself just like what he did with bitcoin and dogecoin that are now both in their peak price. But it never crosses my mind he will come up with this knowing he had all the coins he wanted and make it pump or dump so that the owners of such coins will end up panic selling and leave him the profitable one.

Elon Musk is a smart one, taking all those advantages he had in his power so we should also be wise as him so we can never be left empty handed because of giving him all the chances that was probably ours to take.

[MishaSER]

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.

[ecnalubma]

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.

Thinking the same, look at what happen to Zuckerberg’s Libra it didn’t pass well through SEC’s approval I think it could possibly happen to Elon Musk too if he creates his own coin knowing his influence in the market. Elon has bad reputation already in crypto space, he can make you rich and poor in seconds.

[oemar bakrie]

It's not as easy as what we imagine later, maybe if you launch your own coin it will be very difficult..
because you have to need a solid team that can raise these coins with extra work..it's different by buying all the coins that already exist..

[Woodie]

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.

[conected]

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.

- Well, for someone where every comment can become a trend like Elon Musk, actions such as starting a company or creating a product will receive the full review of organizations and government approval, passing such a chain of rules is probably not easy, and even if passed, success requires the participation of the crypto community but he ruined everything. First, the legitimacy prevented this participation, the next, perhaps an attempt to try to set the trend in an extravagant way, but this random thing wiped out the investors in the market, people are really hating his absurd disturbances

[Digital_Lord]

I don't think Elon Musk will launch his own coin. If he had to launch his coin he had not shilled DogeCoin and Other Meme Coins. Maybe he will launch his coin in future and will use that coin in Tesla. 

[7788bitcoin]

Elon Musk will probably hype his own coin if he creates himself just like what he did with bitcoin and dogecoin that are now both in their peak price. But it never crosses my mind he will come up with this knowing he had all the coins he wanted and make it pump or dump so that the owners of such coins will end up panic selling and leave him the profitable one.

What about the rest of the coins in the cryptocurrency market, almost all of the coins touched their all time high and still going higher and we very well know that Elon Musk just pumped the price of Bitcoin and Doge but what happened to ETH XRP even ETC and Bitcoin Gold. So we cannot find someone responsible for the market and these are baseless assumptions and there is no way he is going to launch his coin unless he wants to troll the cryptocurrency space to the next level.

[acener]

Then we could see how well he could manipulates it I mean manage it.
We could see so much drama and it could be a pump and dump scenario like what is happening to the Dogecoin from the recent weeks.
But yes it would be a success of course the question is for how long?
We all know that he have so many supporters/Believers and we could see it from how Dogecoin price reacts every time he tweets it,
So if he would create his own crypto then we could be sure that all of those Dogecoin investor would jump in on his own crypto.

[Gargulan]

Who knows if he didn't already  There have been rumors in the past that he could be part of Bitcoin for many years already.

[Mpamaegbu]

Well, if he floats a crypto I for one won't be buying. I'm yet to see any celebrity owned token that has succeeded. I try as much as stay away from any token promoted by a celebrity where they're made the poster boys. I learnt the hard way after my experience with the John McAfee ghost token last year. That was a few years after Centra which was heavily promoted by boxer Mayweather turned scam. I lost cash in that too. So, I will be highly skeptical to stay out if Elon has a token to his name. He's better a kingmaker than wanting to be a king himself. He should know better.

Then he pumped the price several more times and sold his coins to the hamsters.

Every hodler at some point takes profit. If Elon decides to sell, it shouldn't be seen as something bad.

[yazher]

I remember when Facebook announces their participation in the crypto industry by creating their own coin which didn't really show what the people expected. If he launches his own coin the chances of it becoming successful are dependent on what kind of coin it is and how many big-time companies will support it. To be honest, it is not really convenient for them to create new coins since these guys are busy with their own successful companies. Only those who have known how to effectively gain high profit will sacrifice their time and money to create new coin even though they are the owner of one of the successful companies in the world.

[nrvasquez]

Who knows if he didn't already  There have been rumors in the past that he could be part of Bitcoin for many years already.

Is it true? I didn't hear it at all. but I don't think Elon would do that. I think there are some more important and urgent projects that he has to work on (Tesla and SpaceX are already taking a lot of time), I think he also owns several companies like boring companies? I'm not really sure

[Shasha80]

I remember when Facebook announces their participation in the crypto industry by creating their own coin which didn't really show what the people expected. If he launches his own coin the chances of it becoming successful are dependent on what kind of coin it is and how many big-time companies will support it. To be honest, it is not really convenient for them to create new coins since these guys are busy with their own successful companies. Only those who have known how to effectively gain high profit will sacrifice their time and money to create new coin even though they are the owner of one of the successful companies in the world.

Facebook is a great example to compare if Elon Musk plans to make his own coin. Facebook's failure when planning to make Libra, could be a valuable
lesson for Elon Musk. Because it is not certain that a large company with a lot of money can create a successful project. They have to create coins that
the crypto community really needs, because even now, there are so many new projects appearing, but has almost the same function. So very few
new projects end up surviving. I believe Elon Musk is aware of this, and will not be creating a new coin anytime soon.

[smyslov]

He'll have to go through the regulators, it's not going to be easy but if he passed it, it will have a good potential in the market, he had everything to make his coin land in the top 10, I'm sure this idea is cooking in his mind we'll see, after promoting Doge and testing his influence he can try it to his own coin he'll gain a lot if he can create his own, but only if he passed the regulators.

[crzy]

Who knows if he didn't already  There have been rumors in the past that he could be part of Bitcoin for many years already.

Is it true? I didn't hear it at all. but I don't think Elon would do that. I think there are some more important and urgent projects that he has to work on (Tesla and SpaceX are already taking a lot of time), I think he also owns several companies like boring companies? I'm not really sure

He’s a billionaire and for sure he diversified already and maybe already own a token privately to avoid regulations. If Elon will create his own token then so be it, I’m sure the hype of that project will be huge and can easily pump, I just don’t know if there’s a usage for that or just a simple project to make money.

[xiboothrezi]

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.

this is a very reasonable excuse. although many suspected that the coins issued by EM itself would be as successful as Doge did, but the road is not that easy. as one of the richest and most influential people, there are bound to be many barriers to legality, centralization, and the like. and looking at Mark's previous case to be the closest and most similar prediction. but who knows, if there is a chance there might be a surprise, we'll just wait.

[Luqman]

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.

[coin-investor]

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.

[CaVO32]

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.