Elon and and how this "dude" could effect bitcoin in the future?

[Renampun]

You will agree Elon has really inspired many people to bitcoin his pro or against bitcoin tweet directly reflect the red and green candles on bitcoin charts.

With owning this huge platform of Twitter he can either break it or make it. I think.

Let if adopts "doge" as some kind of default crypto currency for Twitter it will be huge move and might effect bitcoin bigtime.

Or let say if come to sense and realizes the truth and embrace bitcoin I can't imagine how huge the green candle will be.

you're thinking too much, so far there has been no new official news about doge will be the default cryptocurrency for twitter...

since Elon officially showed interest in bitcoin last year, since then the bitcoin price has continued to stabilize around $30k+ till $45k. Bitcoin adoption will definitely happen and it can't be denied, even before Elon owned Twitter, Jack as the founder of Twitter has included a tipping feature with Bitcoin on Twitter. twitter, elon and bitcoin really good combination.

[Viscore]

He can shill all the time Dogecoin.

But still, no matter how hard he shills it. The market will still speak for itself. We're in an assuming bear market and it might continue to dip for some more.

Even how hard he shills his favorite coin, the market will still be the one to be followed by everyone no matter how good things he says about it.

The people have already become smarter these days and they will never go for dogecoin again in replace for bitcoin. No matter how Elon shills his dogecoin, even if he will own Twitter in the future, that will not change in the market that the people would still go for bitcoin and will never be influenced by Elon again. Though newbies will be easily influenced by Elon, but the moment they start to believe him, that will mark their first loss, and for sure they will learn good lessons from it.

[TheNineClub]

You will agree Elon has really inspired many people to bitcoin his pro or against bitcoin tweet directly reflect the red and green candles on bitcoin charts.

With owning this huge platform of Twitter he can either break it or make it. I think.

Let if adopts "doge" as some kind of default crypto currency for Twitter it will be huge move and might effect bitcoin bigtime.

Or let say if come to sense and realizes the truth and embrace bitcoin I can't imagine how huge the green candle will be.

I think the impact Elon had on the overall situation of crypto was a bit overblown, a were all other factors downplayed. In the end, it will only be a mix of factors as it always was, Elon is just one of the factors that contribute to the overal crypto fluctuation.

[Finestream]

You will agree Elon has really inspired many people to bitcoin his pro or against bitcoin tweet directly reflect the red and green candles on bitcoin charts.

With owning this huge platform of Twitter he can either break it or make it. I think.

Let if adopts "doge" as some kind of default crypto currency for Twitter it will be huge move and might effect bitcoin bigtime.

Or let say if come to sense and realizes the truth and embrace bitcoin I can't imagine how huge the green candle will be.

There's no one else here really knows the future plans of Elon, so we should bear on it. But IMHO, bitcoin will always be firm and strong not to be affected with it, but somehow bitcoin will always be triggered by Elon. Because we already know the personality of Elon, and he will always pursue whatever his plans. But one thing is certain, we have learned our lesson before, so we should be wiser now not to be deceived by him.

[adzino]

You will agree Elon has really inspired many people to bitcoin his pro or against bitcoin tweet directly reflect the red and green candles on bitcoin charts.

With owning this huge platform of Twitter he can either break it or make it. I think.

Let if adopts "doge" as some kind of default crypto currency for Twitter it will be huge move and might effect bitcoin bigtime.

Or let say if come to sense and realizes the truth and embrace bitcoin I can't imagine how huge the green candle will be.

If Elon says something about Bitcoin and twitter, I am almost sure that the price of bitcoin will start skyrocketing and people will start praising him. But when he will say a something against bitcoin, even if it is true, the price will crash and those who FOMOed into bitcoin will start cursing him because they will lose a lot. So yeah, we can either break it or make it like he did when he started accepting bitcoin in Tesla and then few weeks later he stopped.

[Ahli38]

I think he will gonna use his authority to further promote whatever cryptocurrencies he like because he has now full access to which coins he wants to promote every day on Twitter and he also has the access to stop any promotion that hasn't paid anything to him. Looks like it will gonna be the best for Bitcoin wants he to start tweeting another good and positive twee about it but surely along with Dogecoin since he won't gonna stop promoting it until it reaches the price he speculated these few years.

even with twitter in Elon's hand. this should be good news for the cryptocurrency world, especially for Doge and bitcoin. because we all know Elon must be holding a lot of bitcoins. and to doge like you said. surely he continues to promote it so the price will match what he has said in the past.

[bubidan.id]

More precisely he is like an influencer, he can have a big effect on the movement of bitcoin, with the achievement of acquiring Twitter and with his tweet weapon, he easily makes bitcoin price change in a short time. I think it will be terrible for the future of cryptocurrencies.

[Wind_FURY]

You will agree Elon has really inspired many people to bitcoin his pro or against bitcoin tweet directly reflect the red and green candles on bitcoin charts.

Mere "moods" of the market affected by someone who was the favorite billionaire of the day. Plus there was a new group of plebs like us entering Bitcoin Land. They haven't learned of the HODL yet.

With owning this huge platform of Twitter he can either break it or make it. I think.

A platform for mere propaganda for, or against Bitcoin. The network will continue to chug along, adding block by block to the blockchain.

Let if adopts "doge" as some kind of default crypto currency for Twitter it will be huge move and might effect bitcoin bigtime.

No, only the price. Maybe.

Or let say if come to sense and realizes the truth and embrace bitcoin I can't imagine how huge the green candle will be.

Elon Musk is on his own path to true understanding like many of us mere plebs. He was very opinionated before that Bitcoin needs to increase the block size, thinking it to be very simple. Changing one parameter affects all other parameters, and especially affects the incentive structure.

Wait for his opinion 5 years later.

[shahzadafzal]

You will agree Elon has really inspired many people to bitcoin his pro or against bitcoin tweet directly reflect the red and green candles on bitcoin charts.

With owning this huge platform of Twitter he can either break it or make it. I think.

Let if adopts "doge" as some kind of default crypto currency for Twitter it will be huge move and might effect bitcoin bigtime.

Or let say if come to sense and realizes the truth and embrace bitcoin I can't imagine how huge the green candle will be.

Well you are right there will be "some" effect on the market with any such news but the important question will that effect be long lasting?

Answer is No, absolutely not.

It's been a long time since bitcoin has developed immunity to such FUD.

Certainly a temporary effect will be there but, the days are passed when bitcoin gets affected by a single person, or by a country  or even a region let it be Europe or Americas.

You have seen China banning bitcoin mining. It affected the market but it recovered within a couple of months.

So no, in the long run Elon like "dudes”' won't affect bitcoin much.

[Emitdama]

No, sorry I can't agree with that. It wasn't Elon that inspired people to use bitcoin but there are many influencers that encourages the use of bitcoin before he came in the scene. Elon isn't a true bitcoin supporter but he only use bitcoin to gain followers or attention because later on he drop the support for bitcoin and then replaces it with meme coins. There where rumours that Elon will change twitter for good, saying that he don't like the current twitter because it restricts some post or countries. That's a good advocacy there, only if that is true.

The reason I am doubting is because Elon has some shady background before. If he adopts dogecoin on twitter, I don't think that will affect bitcoin. What I know is that bitcoin only affects altcoins and not the other way around.

[sana54210]

It is true that he manipulated the bitcoin price for his own gain but there is no denying that his support for the cryptocurrency has inspired many.

We still don't know what he will do next with Twitter but as a crypto advocate and Twitter as an active social network for crypto I think this will positively impact the development of crypto. Along with Twitter ownership, Elon is also one of the whales holding large amount of bitcoin so I think he will be a bitcoin influencer in the future.

If he could just add in a "tip" button to twitter where we could tip in twitter without ever getting out, that would change so much. Imagine a scenario where you deposit money, any money, maybe twittercoin if he wants to, or doge, and then everyone tips each other, or even have like subscription which you can pay with crypto, then we would have such a huge economy there as well.

Do not consider it as a huge sum, like even $1 would be fine, obviously tipping is personal and you could do 10 cents or 10k, it is all up to whatever amount you want to tip. Twitter could take like 0.10% of that and still would make a lot more money. That is what I am expecting him to do.

[Synchronice]

You will agree Elon has really inspired many people to bitcoin his pro or against bitcoin tweet directly reflect the red and green candles on bitcoin charts.

Inspired in what way? Did people understand the pros and cons of bitcoin? Did people understand what's difference between Bitcoin and fiat? Did people understand what makes Bitcoin unique? I don't think so, I really don't think so.

I'll try to explain crowd psychology in given situation:
Elon Musk - Guys, I think that bitcoin is the future and I'm going to invest in it
Crowd - Hey people, Elon Musk, one of the richest guy decides to invest in bitcoin. He is so confident and charismatic, this man is definitely very smart, he always achieves success, have a look at Tesla and SpaceX, I'm not losing here, I'm sure, let's follow our god Elon.
Elon Musk - My company Tesla is going to put $1.5 billion in bitcoin.
Crowd - Holy shit! The price is rising, glad we followed our god Elon.
Elon Musk - Hey Crowd! Let's move doge to the moon!
Crowd - Holy fuck! Let's buy dogecoin asap, I repeat - ASAP!
Elon Musk - Dogecoin worths $1, let's make it happen!
Crowd - Yeah baby! Doge to the moon!
Elon Musk - Sorry crowd, I just woke up and I think I won't accept bitcoin anymore due to environmental concerns as it consumes a lot of energy!
Crowd - Oh Elon, you liar, I'm gonna sell bitcoins!
Someone from the crowd - Buy Matic, buy Matic! (Echo effect).
To be continued...

With owning this huge platform of Twitter he can either break it or make it. I think.

I said, people didn't learn a thing! Doesn't he make things centralized by acquiring Twitter? Sorry, but I don't believe in billionaires supporting the freedom of speech.

Let if adopts "doge" as some kind of default crypto currency for Twitter it will be huge move and might effect bitcoin bigtime.

That will be proof and a summary of how humanity has degraded over time.

[ninis45]

Elon musk is one of the richest people who can do things in a way to get bigger profits, one of which is currently being talked about is buying twitter which could make doge go up so significantly even though he still hasn't done anything with twitter.
i don't see ELon musk anything that can inspire what he does except just a few of his tweets can hypnotize the market especially doge at some moments but what i like about him is he doesn't play with what he says

[bbc.reporter]

Elon "did" managed to influence bitcoin, mainly doge but I am sure some of that helped bitcoin price to go up as well, specially that 1.5 billion dollars purchase news. Twitter purchase could impact it as well if he somehow integrates it into twitter as well but aside from that I do not see any connection. Twitter is already filled with crypto influencers, unless something changes about that subject, leaving it as it is shouldn't really be a big problem. Even the news of him trying to buy it increased doge which makes no sense, there will no sustainable increase but hypes like these, but it will always be temporary if he doesn't connect the two together.

The community should return to reality. Elon Musk made a margin loan of $12.5 billion to buy Twitter. He used $62.5 billion of stocks of Tesla as collateral for this. It is speculated that if Tesla dumps by 43%, Elon will have a margin call. This -43% dump is when the price of Tesla stock is $571.

The American economy, similar to other countries' economies, might enter a recession. $571 per Tesla stock is very much a possbility if we enter a recession. What do companies do if they take risk and needs more liquidity? They sell assets. What is one of the easiest assets to sell that Tesla owns in their treasury?



Assuming a starting value of $1,000 per share, the margin call comes at a share price of $571, at which point Musk would have to find $2.6 billion to lower the outstanding amount of the loan and bring the loan to value ratio down to the reset level. This could force the sale of some of Musk’s Tesla shares, putting downward pressure on the share price and lowering the collateral value further.

Source https://seekingalpha.com/article/4503494-tesla-stock-as-collateral-to-buy-twitter-avoid-buy-the-dip



Also, there were articles that Michael Saylor has also made loans against Microstrategy's bitcoin as the collateral.

[Anonylz]

You will agree Elon has really inspired many people to bitcoin his pro or against bitcoin tweet directly reflect the red and green candles on bitcoin charts.

With owning this huge platform of Twitter he can either break it or make it. I think.

Let if adopts "doge" as some kind of default crypto currency for Twitter it will be huge move and might effect bitcoin bigtime.

Or let say if come to sense and realizes the truth and embrace bitcoin I can't imagine how huge the green candle will be.

Elon Musk is a world class business man and for him to have that means he is smart and sensible, so the question of him coming back to his senses is pointless.  It has always been about power and control, with the acquisition of twitter it is very likely he will exercise that power, using the platform to promote dogecoin and probably talk down on btc like he always does.
I really won't expect anything less, I was really hoping Jack will not agree to his offer but I guess it is all about business at the end of the day.

[jhonjhon]

Elon Musk's witty tweets about cryptocurrencies, specifically Bitcoin and Dogecoin, influence their prices to rise or fall. Musk's tweets, which have over 55 million followers on Twitter, have a significant impact on the crypto market.
In April, he tweeted saying Tesla would offload 10 percent of its stake in Bitcoin, setting panic amongst its investors. He was quick to say his bitcoin investment remains the same and he wanted to check its liquidity.
https://www.cnbctv18.com/cryptocurrency/elon-musks-influences-on-crypto-market-what-the-future-holds-9477381.htm

[Cryptmuster]

Elon Musk is a world class business man and for him to have that means he is smart and sensible, so the question of him coming back to his senses is pointless.  It has always been about power and control, with the acquisition of twitter it is very likely he will exercise that power, using the platform to promote dogecoin and probably talk down on btc like he always does.
I really won't expect anything less, I was really hoping Jack will not agree to his offer but I guess it is all about business at the end of the day.

It was very difficult to refuse such an offer and Elon knows how to be convincing if he needs it. ) Of course, he will promote his interests with the help of twitter, but I have a question here: will this not be manipulation, will this attract the attention of regulators? Perhaps not, because if he was not held accountable after the manipulations with bitcoin and Tesla, then it will be even more difficult to do this here...

[Wind_FURY]

Elon "did" managed to influence bitcoin, mainly doge but I am sure some of that helped bitcoin price to go up as well, specially that 1.5 billion dollars purchase news. Twitter purchase could impact it as well if he somehow integrates it into twitter as well but aside from that I do not see any connection. Twitter is already filled with crypto influencers, unless something changes about that subject, leaving it as it is shouldn't really be a big problem. Even the news of him trying to buy it increased doge which makes no sense, there will no sustainable increase but hypes like these, but it will always be temporary if he doesn't connect the two together.

The community should return to reality. Elon Musk made a margin loan of $12.5 billion to buy Twitter. He used $62.5 billion of stocks of Tesla as collateral for this. It is speculated that if Tesla dumps by 43%, Elon will have a margin call. This -43% dump is when the price of Tesla stock is $571.

The American economy, similar to other countries' economies, might enter a recession. $571 per Tesla stock is very much a possbility if we enter a recession. What do companies do if they take risk and needs more liquidity? They sell assets. What is one of the easiest assets to sell that Tesla owns in their treasury?



Assuming a starting value of $1,000 per share, the margin call comes at a share price of $571, at which point Musk would have to find $2.6 billion to lower the outstanding amount of the loan and bring the loan to value ratio down to the reset level. This could force the sale of some of Musk’s Tesla shares, putting downward pressure on the share price and lowering the collateral value further.

Source https://seekingalpha.com/article/4503494-tesla-stock-as-collateral-to-buy-twitter-avoid-buy-the-dip



Also, there were articles that Michael Saylor has also made loans against Microstrategy's bitcoin as the collateral.

I somehow didn't notice the article, I'm a Seeking Alpha reader too.

It will be an important lesson learned the hard way if Chad Saylor does indeed lose everything because of his unnecessary risk-taking. It's greedy investing, and although it might crash the price, I'm still very confident of Bitcoin's recovery. Saylor simply took an act that might give the plebs of another golden opportunity.

[MinMan]

More precisely he is like an influencer, he can have a big effect on the movement of bitcoin, with the achievement of acquiring Twitter and with his tweet weapon, he easily makes bitcoin price change in a short time. I think it will be terrible for the future of cryptocurrencies.

He is considered as an influencer because he is famous and have lots of followers but it's not bitcoin, it was doge or shib are the ones that he will promote. Elon already ended its connection with btc because btc is not friendly to the environment therefore there is nothing to worry about.

Whatever happens to those meme coins won't have any effect to bitcoins but manipulations is not all about dumping the price or making it more volatile but pumping can happen as well. Those meme coin hodlers are going to be happy if that happens because finally they can now recover what they lose or possibly earn more but we btc users shouldn't be jealous with that as that is only temporary.

[fullhdpixel]

No, sorry I can't agree with that. It wasn't Elon that inspired people to use bitcoin but there are many influencers that encourages the use of bitcoin before he came in the scene. Elon isn't a true bitcoin supporter but he only use bitcoin to gain followers or attention because later on he drop the support for bitcoin and then replaces it with meme coins. There where rumours that Elon will change twitter for good, saying that he don't like the current twitter because it restricts some post or countries. That's a good advocacy there, only if that is true.

The reason I am doubting is because Elon has some shady background before. If he adopts dogecoin on twitter, I don't think that will affect bitcoin. What I know is that bitcoin only affects altcoins and not the other way around.

Elon really didn't do much about bitcoin to be fair. People are forgetting that we were in a pandemic period where everything went up with fake money, governments all around the world kept on printing free money for everyone and most of those people who didn't need it ended up buying investments with it, some did gold ,some did stocks and plenty did crypto and that is why it went up.

Doge could be his baby and that is why maybe he got up but at the end of the day it was a fake one and dropped harshly after he stopped tweeting about it. Bitcoin didn't get any help from him whatsoever, maybe just the purchase they did but that's it.