It's really a shame for the crypto community. It's really funny how this man "uses" the highest part of the community the way he wishes. He pumps prises, then dumps. He manages prices the way he wants. It means that Elon has a huge influence on people and they blindly follow the Elon Scam.
Oh, I loved the way cryptocurrencies were rising in 2017, there was no Elon, only healthy and meaningful rise but now? I don't want to trade in such crypto market. Who could imagine that Doge would rise so significantly, who? I believe this man can make stone valuable if he wants, it's just a psychological factor.
Billionaire making billions on dumbs and people still get wet on him, hahaha...
Truth to be told, it is not exactly a shame "for" the community, as it is "on" the community.
Truth is: the crypto community is as much of a herd as one could imagine, all trying to find their leader which can guide them to riches.
Elon is the perfect embodiment to this sentiment.
I'd argue that it's not even his fault to leverage these kinds of opportunities when they present themselves.
Really, the "current" "crypto community" is nothing more than a bunch of braindead losers thinking that they can somehow get rich quick. I'm not sure if this has always been that way (certainly the 2017 bull run was that too), but this makes crypto even more sad that fiat, IMO. Sure, there are a couple smart developers here and there, but the average crypto user does not use crypto for it's inherent properties ("speed", "privacy"), but is merely a degenerate gambler coping with their poor financial situation. I myself am guilty of this.
Elon just plays into this sentiment in a rather bland and obvious manner, and I really just wonder how long it is going to take for people to realize that he is the poor definition of an antichrist.
On that note; I've come to the realization that perhaps it has always been that way -- and perhaps it is beneficial to adoption, but first and foremost, it's just really sad. At this point, 99% of coins work as a HYIP without the payout. A lottery. -- Everyone pools their fiat money in coins, the first ones to take their fiat back out before it starts crumbling are the winners, the rest will stay losers. -- this is crypto, and perhaps has always been crypto.
All coins are overvalued, based on nothing but pure speculation of the masses. It almost makes me want to just go back to fiat again. Sure, you can say that this is an inherent property of a currency, but really, it is not. I hate what bitcoin has become. Hodlers my ass. It has nothing to do with revolutionizing the way transactions are conducted. Zilch. It's the hypesquad all the way to the bank.
You know - it all makes sense though. Crypto is this sort of opposition against the current financial system, and thus once mainstream it's followers will most likely be the losers under the current system. Though crypto is not an alternative. It's not even comparable. It's just their faux ticket to dreamland.
I don't know. All this commotion too; it just feels like crypto as a whole has been drenched in this loser-mentality "Oh noooo elon don't hurt my stonks!!!!!!!", but as I said, perhaps this is/was an inevitable property of crypto.
