What if Elon musk launches his own coin?

[Baimovic]

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?

If Elon Musk is making coins with their business purpose of course they will launch the coin in the market especially with its popularity in Crypto world then it will be very easy to get volume fast on the coin.

[kenelmark]

I think Elon Musk has a good chance to create his own coin, besides having a lot of followers, Elon Musk also has a big influence on the movement of a Coin.

How can you ensure that when Elon Musk himself hasn't made it and hasn't implemented the plan at all this year?
Talking about the influence on a coin it is clear there is but it will not be the same when he starts making his own coin for cryptocurrency.

[Japinat]

unfortunately the fame and popularity and the many fans, followers can influence the crypto market a lot if Elon Musk created his own altcoin without any real use, another meme coin like doge and shiba and made a few tweets to promote it, its value would rise instantly making him earn a lot , i don't understand why he hasn't done it yet, maybe because he hasn't finished with doge and shiba

He would not create a meme coin as he already has DOGE, it's not his coin but he loves to shill that coin. If he likes to have a good reputation in the crypto space, he will have to create a coin with some real purpose and that could be developed in the future for real use, not for hype like meme coins.

I'm sure the initial reaction is positive as Elon still could create hype in the market, and with a lot of followers, it would be hard for his coin to pump.

But like I said, it could only be temporary.

[savetheFORUM]

unfortunately the fame and popularity and the many fans, followers can influence the crypto market a lot if Elon Musk created his own altcoin without any real use, another meme coin like doge and shiba and made a few tweets to promote it, its value would rise instantly making him earn a lot , i don't understand why he hasn't done it yet, maybe because he hasn't finished with doge and shiba

He would not create a meme coin as he already has DOGE, it's not his coin but he loves to shill that coin. If he likes to have a good reputation in the crypto space, he will have to create a coin with some real purpose and that could be developed in the future for real use, not for hype like meme coins.

I'm sure the initial reaction is positive as Elon still could create hype in the market, and with a lot of followers, it would be hard for his coin to pump.

But like I said, it could only be temporary.

Right now, Elon name in crypto is really working even it's in bad way because just because of his tweets too much hype and many newbies falling in meme coins which is not good for this community and coins.

Dogecoin is now coming back on his real price after some hype from him and now Shiba is also doing in same way too much hype can bring some bad reputation of this crypto community, but sadly we have no system which can stop this person from doing these things. And big number of newbies and many greedy crypto bounty hunters having lost their big amount in this, I personally not in favor of person like this have any influence in this community.

[LUCKMCFLY]

In recent times Elon Musk has been influencing the crypto market a lot. If Elon Musk brings his own currency to market, he will have the opportunity to make much more of an impact. I think Elon Musk could actually do both good and bad with his own currency in the market.

Well, the impact may be more towards the positive than the negative, I think that because Elon Musk has many followers worldwide who do not know about crypto, and they are true to what he says, large investors fully trust his advice, in the The case of the crypto community is different, I think it is divided between the pro-Elon and those who do not, between the most radical community that believes in BTC the most has them totally disappointed, so on that side Elon Musk would not be successful, however it would be interesting to see a coin driven by it, because it would be a coin that would hardly fall in price.

[timerland]

I honestly don't think that the effect will be too large.

People are going to probably hype it up quite a lot but at the end of the day the technology underlying this coin will determine whether it succeeds in the long term or not.

Don't forget projects like XRP, Tezos etc. who all have institutional/large teams backing them but at the end of the day are not as relevant as BTC/ETH.

[Fail2Fail]

I don't think he'd have an interest in doing that. Why when he can just pick any dog coin and pump that.

If he were to start a coin (not saying he would), I'd assume it'd be on the same premise that a lot of newcomers try for: innovation.

Like him or hate him, he has been an innovator and a leader across multiple markets. I feel like him starting a coin would be in conjunction with services aimed to do X, Y, or XYZ better than services that are currently out there. The success of the coin wouldn't necessarily rely on the success of the services, because...hype and bandwagon....but that's another story.

[noah tall]

Elon musk is very known person to everyone in crypto currency market. He has a very big fan following and having a very strong community. His tweets is so effected on crypto currency market. So if he launch any coin . It will be an opportunity for everyone, and the coin will he competitive in crypto currency market.
 But i don't think so.

[lvsca]

The possibility that it will succeed in the market is very small because Elon Musk is also not trusted by many people after the bitcoin price manipulation incident. However, some profit seekers have always supported Elon Musk under any circumstances. And it could have worked in the market if he was really serious about launching his project.

[Abiky]

He would not create a meme coin as he already has DOGE, it's not his coin but he loves to shill that coin. If he likes to have a good reputation in the crypto space, he will have to create a coin with some real purpose and that could be developed in the future for real use, not for hype like meme coins.

I'm sure the initial reaction is positive as Elon still could create hype in the market, and with a lot of followers, it would be hard for his coin to pump.

But like I said, it could only be temporary.

He could either make a serious cryptocurrency for day-to-day use or a speculative coin with the purpose of enriching himself. There's hasn't been any indication from Mr. Musk (as far as I'm aware) that he's going to launch his own cryptocurrency. He's been constantly shilling Dogecoin, so my guess is that he'll "stick" with the coin at least for a little while. There's a coin named "Dogelon Mars" which is named after Elon Musk, but I don't think it's official. Knowing that Elon Musk is quite fond of Dogecoin, there's a possibility the new coin will be nothing more than a speculative asset. I wouldn't care about this since crypto is not about Elon Musk. As long as crypto stays decentralized, there should be nothing to worry about. Just my opinion

[pragna]

At present time Elon musk are in silent position and hope he will come back in own time as he is fully a business man. Everything is possible from Elon Musk as he always trying to expand his business. he is the person who came fowared in crypto market with technically and taken his profit from this market. So if we see that he coming with own blockchain we can not be surperised.

[Kez1817]

Elon Musk is very popular in crypto industry and if he will make his own coin, people will surely patronize such coin. Also I think he will not create coin without any use case like doge coin or any hype coin. Coins with real purpose will stray in crypto space for so long like bitcoin but meme coins will not. So, I believe Elon Musk will think about it very well before producing his own coins in crypto if ever he wants.

[sarmrakib]

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?

If Elon Musk is making coins with their business purpose of course they will launch the coin in the market especially with its popularity in Crypto world then it will be very easy to get volume fast on the coin.

You are thinking that we can just get a huge volume but not only that there will be more concern .However if he come up with his own project it will be a huge one for sure .We have seen in the recent days how his tweet make an impact on the crypto market and also there are many project has come up with his name .All if these are running well and lots of us has gotten enough profit .So that we can surely say that he is the richest person in the world and if he comes with his own project it will be number one for sure .

[so98nn]

It won’t be much beneficial because at this time peeps are not loving the way Elon is manipulating the market for meme coins and also forfeited the BTC payments against Tesla car.

Just imagine he launches his own crypto currency and somehow in the later times he see the amazing growth for his coins. Who knows seeing the multi billion investment in his coin he may just start selling it off for his Mars missions, or for some other stuff.

What if he makes a joke someday that he is going to sell his assets in the coin, Dam everyone will freak out and start selling off crazy. Lolz. 

[kenelmark]

Seems like a riddle is done, Elon musk has gained popularity in crypto and has done a lot of things he did to change the rise of bitcoin to the coin meme that is dogecoin so Elon musk has become involved as an influential person in the crypto space, but if the popularity he has now to make your own coin I don't think it will work as well as dogecoin.

Everything will feel different when Elon Musk does almost the same job in cryptocurrency because Dogecoin is a coin that already has a resilience basis so Elon Musk only needs financial ability to make Dogecoin fly high and this will be different when he starts to build his own coin, because of the struggle for it will never be the same as the thing in Dogecoin.

[Blowon]

It will be 50:50. After Elon Musk tried to manipulate the price of bitcoin his popularity declined. There aren't many people who easily believe Elon Musk, but some still believe. If you want to follow the trend Elon Musk must be as soon as possible to attract profits. Elon Musk is rapidly changing in his support of cryptocurrencies. If you feel this is high risk enough, you should not need to follow Elon Musk trend.

[kenelmark]

Very clear advice not to depend on what Elon musk does or depend on what Elon musk tweets on his twitter. There are many other strategies that you can use as motivation or the latest information besides Elon Musk.

That's right, because anyone who has ability or wealth, then he can also be like Elon Musk without having to use such a complicated strategy to understand the market, because Elon Musk moves everything with money and strategy.