Elon Musk sued for 258 billion USD over alleged Dogecoin pyramid scheme.

[zasad@]

"The lawsuit is written to represent the people who have lost money while trading Dogecoin since April 2019. The exact numerical figure on the lawsuit comes from Johnson’s claim for $86 billion in damages, which his lawsuits requests be tripled."
https://en.as.com/latest_news/why-has-elon-musk-been-sued-after-dogecoin-pyramid-scheme-accusations-n/
Who cares how these people lost about $86 billion?

[Jackl87]

Elon Musk is about to get sued for alleged Dogecoin pyramid scheme. We all knew that his Dogecoin shilling will come back and bite him in the a$$.
Is dogecoin a pyramid scheme? Is this a rhetorical question? Any doge supporters here?

I just took a quick read through the article that you posted and it seems that he gets sued by a single dogecoin investor. So for me this means that it is pretty safe to say, that this legal action has zero chance of being successful, especially when you look at the amount that this guy wants as a compensation. I think the guy who sues Elon Musk definitely knows that but still sued him to make a statement or to make this issue more public again.
In the end the Dogecoin shilling of Elon Musk was very good for those guys that were already invested into dogecoin before the shilling happened, but also very bad for those that only bought Dogecoin because of the shilling of Elon Musk. I mean in the end it is also the fault of those guys that just buy a coin because someone famous is making tweets about it.
I also think that the shilling of Elon was bad for the crypto market as a whole because it was basically the starting point of the meme-coin hype and because of that we saw hundreds of new shit-coins every day and attention was took away from real projects.

[KaliLinux]

I'm sorry if there's another forum post about this topic. I couldn't find anything about this news, so I'm posting it here.
Elon Musk is about to get sued for alleged Dogecoin pyramid scheme. We all knew that his Dogecoin shilling will come back and bite him in the a$$.
Is dogecoin a pyramid scheme? Is this a rhetorical question? Any doge supporters here?

https://www.reuters.com/legal/transactional/elon-musk-sued-258-billion-over-alleged-dogecoin-pyramid-scheme-2022-06-16/

The accuser just wants to make money

Johnson is seeking $86 billion in damages, representing the decline in Dogecoin's market value since May 2021, and wants it tripled.

if every investor who loses their investment investing in Cryptocurrency will demand and charge the developers we will have thousands of lawsuits every month, the accuser is in a dream world he doesn't know the reality of investing in Cryptocurrency, it is the investor's action that will make him lose and profit in the market, there's a lot of pump dump and manipulation in the market, you don't want to lose? get out in the market and put your money in a bank.

Did the accuser lose $86 billion in investment? and I understand that tripling that amount of $86 billion will be coming close to Elon Musk's Net worth, Maybe his aim is to bankrupt Elon Musk I don't think this will fly though. Didn't People profit from Elon Musk Dogecoin shilling? I also believe that he believes he can make some sought of money from the lawsuit even if he is not going to get what he is requesting.

[Shasha80]

It seems that this lawsuit did not scare Elon Musk, as a few hours ago he posted another tweet in which he said: "I will keep supporting Dogecoin" - https://twitter.com/elonmusk/status/1538406040374595585 This means that Elon Musk understands the absurdity of this lawsuit and will continue to shill Dogecoin.

Elon Musk already knows the crypto world quite well and Elon Musk understands that what was done to Dogecoin did not violate any laws.
Of course Elon Musk believes the lawsuit will not stop him from continuing to support Dogecoin until Dogecoin can hype up again.
So the issue of the lawsuit is a small thing for Elon Musk, so I believe Elon Musk will not be found guilty and will never provide compensation
to the plaintiff. Although I do not like Elon Musk who continues to promote Dogecoin, but what Elon Musk did I admit is not something that is
against the law. After all, Elon Musk has never forced his followers to buy Dogecoin, so when someone buys Dogecoin it's on their own decision.
So we really can't blame Elon Musk if he wants to promote Dogecoin, as investors, we must make wise decisions and be responsible for every
decision we make.

[zasad@]

It seems that this lawsuit did not scare Elon Musk, as a few hours ago he posted another tweet in which he said: "I will keep supporting Dogecoin" - https://twitter.com/elonmusk/status/1538406040374595585 This means that Elon Musk understands the absurdity of this lawsuit and will continue to shill Dogecoin.

Elon Musk already knows the crypto world quite well and Elon Musk understands that what was done to Dogecoin did not violate any laws.
Of course Elon Musk believes the lawsuit will not stop him from continuing to support Dogecoin until Dogecoin can hype up again.
So the issue of the lawsuit is a small thing for Elon Musk, so I believe Elon Musk will not be found guilty and will never provide compensation
to the plaintiff. Although I do not like Elon Musk who continues to promote Dogecoin, but what Elon Musk did I admit is not something that is
against the law. After all, Elon Musk has never forced his followers to buy Dogecoin, so when someone buys Dogecoin it's on their own decision.
So we really can't blame Elon Musk if he wants to promote Dogecoin, as investors, we must make wise decisions and be responsible for every
decision we make.

If investors made the right decisions, then they would not listen to crypto clowns. But I have an opinion that there are a lot of people on Twitter who like degen trading. On such fools, Elon Musk and other manipulators earn a lot of money.

[Balmain]

Elon Musk is a world famous person has millions of followers and has done all kinds of manipulations for dogecoin. I wonder what the outcome will be from this case. Today's Twitter post of Elon Musk draws attention and said that he will continue to support DogeCoin. Some things are going on, but I wonder what will happen next.

[Moeda]

I'm sorry if there's another forum post about this topic. I couldn't find anything about this news, so I'm posting it here.
Elon Musk is about to get sued for alleged Dogecoin pyramid scheme. We all knew that his Dogecoin shilling will come back and bite him in the a$$.
Is dogecoin a pyramid scheme? Is this a rhetorical question? Any doge supporters here?

https://www.reuters.com/legal/transactional/elon-musk-sued-258-billion-over-alleged-dogecoin-pyramid-scheme-2022-06-16/

Keith Johnson can accuse Elon Musk for a variety of reasons, but Keith Johnson will not be in a position of victory in his lawsuit. Because crypto price fluctuations are normal. Not only Dogecoin, even almost all crypto drops today. Will Keith Johnson also sue other cryptos?

[tvplus006]

...So we really can't blame Elon Musk if he wants to promote Dogecoin, as investors, we must make wise decisions and be responsible for every decision we make.

We can't know exactly how much Dogecoin Elon Musk holds at the moment. Perhaps he, as well as his followers, has a negative result, holding a losing trade. But it is known for sure that Tesla, headed by him, has a loss of $500 million from holding a position in bitcoin. So this indicates that it is impossible to treat Musk words as financial advice and everyone should make their own decision.

[eaLiTy]

Elon Musk is about to get sued for alleged Dogecoin pyramid scheme. We all knew that his Dogecoin shilling will come back and bite him in the a$$.
Is dogecoin a pyramid scheme? Is this a rhetorical question? Any doge supporters here?

There is no substance for this lawsuit, Elon Musk never asked anyone to invest in anything even though he was teasing about Dogecoin through his social media pages and that is the sole reason the meme coin trend even started during this rally.

In a court of law it is not that hard to prove that Elon Musk is not involved in anything involving Dogecoin and his lawyers will squash them in no time.

[Iyeman]

This lawsuit is always ridiculous, it seems these kind of person that invested in meme coin always make the worst decision they could make in their life, suing someone over their own financial decision is honestly sounds so foolish.
Elon in his stance is just merely tweeting some jokes in regard of memecoins in general and most of these so called shitcoin traders always think elon musk is recommending them to invest.

[Xal0lex]

Is dogecoin a pyramid scheme? Is this a rhetorical question? Any doge supporters here?

No, why would an ordinary pump&dump project, which was created for fun, suddenly be a financial pyramid? It's just an object to manipulate and siphon money from the crowd. And notice, DOGE for almost 5 years had utilitarian properties among crypto community, because it was used for arbitrage and value transfer between exchanges, because commissions were kopecks. But then Musk appeared and decided to get high on this project and use his mediocrity to manipulate DOGE price.

[erep]

There is no substance for this lawsuit, Elon Musk never asked anyone to invest in anything even though he was teasing about Dogecoin through his social media pages and that is the sole reason the meme coin trend even started during this rally.

In a court of law it is not that hard to prove that Elon Musk is not involved in anything involving Dogecoin and his lawyers will squash them in no time.

There is no accurate factor that can prove Elon Musk's guilt in court because it is not proven related to the invitation to invest in Dogecoin, so I agree that Elon Musk will easily get rid of all lawsuits about the solicitation of Dogecoin investment, because in the coin meme market everyone invests due to influence hype is not solid analysis and research.

[virasisog]

There is no substance for this lawsuit, Elon Musk never asked anyone to invest in anything even though he was teasing about Dogecoin through his social media pages and that is the sole reason the meme coin trend even started during this rally.

In a court of law it is not that hard to prove that Elon Musk is not involved in anything involving Dogecoin and his lawyers will squash them in no time.

There is no accurate factor that can prove Elon Musk's guilt in court because it is not proven related to the invitation to invest in Dogecoin, so I agree that Elon Musk will easily get rid of all lawsuits about the solicitation of Dogecoin investment because in the coin meme market everyone invests due to influence hype is not solid analysis and research.

I guess it's not Elon Musk's mistake if people are listening to the hype and let themselves get manipulated by a person's influence. He will surely get rid of this case simply because he has the money and there are grounds to prove him guilty of scamming people. It's the people's initiative to listen and invest in Dogecoin but he didn't scam anyone.

[Blowon]

I think almost all cryptocurrencies are a kind of pyramid scheme because those who buy at the beginning will not be affected by losses like we buy at the end, it's just that other crypto coins always have the utility to make the coins seem to be of good use. While degocoin has basically been abandoned by the core team and left to the community, it's very unlikely to go up to nearly $1, this is considered a big ponzi to some.

[BIT-BENDER]

Although I don’t own the smallest fraction of Dogecoin and personally I don’t believe in the coin, i still don’t think that Dogecoin is a pyramid scheme, rather I choose to view Dogecoin as a memecoin that wasn’t heading anywhere until it got its major influence from one of the richest men in the world and an obvious business tycoon this support boosted Dogecoin to unimaginable height and I believe it must have also shocked the owners of Dogecoin that they could do such high numbers, I believe this all this commotion won’t affect Elon musk in any way.

[kensaii]

"The lawsuit is written to represent the people who have lost money while trading Dogecoin since April 2019. The exact numerical figure on the lawsuit comes from Johnson’s claim for $86 billion in damages, which his lawsuits requests be tripled."
https://en.as.com/latest_news/why-has-elon-musk-been-sued-after-dogecoin-pyramid-scheme-accusations-n/
Who cares how these people lost about $86 billion?

SEC care if they see there is strong evident show Elon Musk using his influence to pump the price of Doge (which he did) and then dump the coins he accumulated beforehand. Of course, the latter will need some serious evidence to make the accusations true.

[Retainly_Collie]

I also have a lot of problems with this market manipulation by the big influencers in this market, not only for dogecoin but other things when someone says good or makes FUD about it. Although to be honest, Elon is funny when he talks about Dogecoin too much, and it is also an excuse for other bad guys to manipulate prices and negatively affect the market, creating trends that I find ridiculous. kid. But the person affected by the loss should also learn to blame themselves rather than blame others. When the decision is in your hands and you are taken advantage of, it is easy to blame.

[Silberman]

I am not an avid supporter of Elon but I am not hapoy about this news. Dogecoin is not a pyramid scheme, it's just a normal POS coin. Elon indeed created hype about dogecoin in the market using his influence over the social media and probably made couple of millions from this activity.

But one thing we need to understand that Elon is one of the most prominent supporters of cryptocurrencies in general. While the confidence about cryptos are low, we need someone like him to raise his voice to support cryptos. Instead he is getting sued. That's unfortunate!

We knew something like this was eventually going to happen as Elon is simply too powerful and any type of comment about in which coin to invest could have been taken by someone as a recommendation coming from Elon, so when they lost their money they were mad and now they are suing him to get that money back, do I think they will succeed? No, but that is going to be enough to reduce the number of comments Elon makes about dogecoin.

[jaberwock]

I'm sorry if there's another forum post about this topic. I couldn't find anything about this news, so I'm posting it here.
Elon Musk is about to get sued for alleged Dogecoin pyramid scheme. We all knew that his Dogecoin shilling will come back and bite him in the a$$.
Is dogecoin a pyramid scheme? Is this a rhetorical question? Any doge supporters here?

https://www.reuters.com/legal/transactional/elon-musk-sued-258-billion-over-alleged-dogecoin-pyramid-scheme-2022-06-16/

Don't worry I also think this was the first post here in the forum but I saw lots of this in my social media feeds. According to what I read elon isn't guilty about it. He didn't scam anyone but it was the fault of the people that follows what he tweets and I think Elon didn't tweet something like "buy doge coin as this is the best coin" tweets like that.

To the question if dogecoin is a pyramid scheme? I think no? Because, dogecoin still has some use case and many top platforms accepts it but a real pyramid scheme coin, cant be like that and the only way for them to gain a value is when more people gets in and then the founders will exit the project, taking all the money of their investors.

[wheelz1200]

I'm sorry if there's another forum post about this topic. I couldn't find anything about this news, so I'm posting it here.
Elon Musk is about to get sued for alleged Dogecoin pyramid scheme. We all knew that his Dogecoin shilling will come back and bite him in the a$$.
Is dogecoin a pyramid scheme? Is this a rhetorical question? Any doge supporters here?

https://www.reuters.com/legal/transactional/elon-musk-sued-258-billion-over-alleged-dogecoin-pyramid-scheme-2022-06-16/

It's not a pyramid scheme but last year it definitely acted like it.  No reason for that run up and now people are paying the price.  Didn't help that you have someone like elon who has nothing to lose pumping the coin with his dumb tweets.  Getting sued though is rediculous.  People don't take financial responsibility when they make dumb moves.  Own it.