Elon Musk accidentally created a new cryptocurrency. WTF?

[vanturhan82]

Do you believe that both Dogecoin and Shiba can still increase in price in the upcoming uptrend season? I still have faith that they will appreciate in value, even though they are essentially market manipulations created by market makers. Short-term profits are still possible, but these should be considered speculative investments. Be cautious of extremely high prices and market capitalizations before deciding to take profits

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[Kavelj22]

The companies that benefit from Bitcoin are mostly online companies that provide services to users regardless of their location or the countries they belong to. This is the real benefit from the benefits of Bitcoin, since it not only provides an exchange currency, but also a payment system that can be easily integrated.

Bitcoin is not the only crypto payment option. But I already got used to it and pay for many things with crypto lately. And for example Crypton from Utopia P2P is accepted by more than 1800 merchants already: https://x.com/UtopiaP2P/status/1572904958118481921?s=20 It clearly shows how crypto is integrated in our everyday lives.

My Twitter account was suspended a while ago, so I cannot open the link in your quote.
I am surprised that this little-known currency is so widespread. This leads me to wonder who the merchants are who use them and in which countries they live. Other currencies that are famous and have a place in the crypto market do not have this number of merchant users.

Bitcoin is the most famous currency, but it is not very suitable for all transactions, especially commercial ones, since its price movement is very unstable and it is difficult to use it to determine the value of a commodity for a long time.

[Traderbtcc]

Elon Musk is a savvy businessman who knows how to back up his words with action. When he talked about Doge on Twitter, we saw how it influenced its price. However, with Floki, it's a different story. Anyone can create and launch a token, so it might just be a smart developer taking advantage of the opportunity.

[s.tanishka]

Most importantly, after the last post, it was revealed that he still keeps bitcoins on Tesla's balance sheet. So he's not going to cause a bitcoin collapse.

Too bad we depend on him. Can you imagine, as soon as it is known that he sold bitcoins, the price will go down sharply. That's sad! We need more influential people in the market so that the market doesn't depend on one person.

[Biznesmen]

Musk or any other business people who put their money on the market, then it's a huge hype for that coin. Because people believe that when they invest in that, it will make that coin more valuable in the future by being used in their own business or something. So it's a secure way to follow those people. But I don't know if it's always a good strategy here as well, because in the stock market, there's some reason for collaboration with another company or something. But here it's completely different; they are just hyping this, and we can't really get their intention behind that. And we witnessed that this temporary hype only benefits at that time and not for too long.

[Sophokles]

Elon Musk is a savvy businessman who knows how to back up his words with action. When he talked about Doge on Twitter, we saw how it influenced its price. However, with Floki, it's a different story. Anyone can create and launch a token, so it might just be a smart developer taking advantage of the opportunity.

What makes you think that Elon Musk is the kind of man who backs up his words with action? Just remember what he did with the twitter take over deal. First he offered a price and when they agreed to that price he gave a lame excuse and a condition to finalize the deal. I agree with your statement that Elon is a savvy businessman, and his move with doge was a bold one. He saw it's super cheap and doesn't have any real use cases, so let's buy the dip and use influence and fame to hype the project then cash in after a big pump. What Elons says is a lie. He doesn't care about doge coin it's all about making money. Doge coin was the perfect bait for him to stock up the portfolio slowly so that no one can notice then express yourself as a huge fan of the project.