Elon Musk and a DOGE-Based Web69 – Hype or a Reality?

[Ena boifo 27]

Author: Web69 Maxi

LET me start by saying I’m a hardened, dyed-in-the-wool cynic.

You’ll recognise this: it’s almost impossible not be after multiple years on the crypto rollercoaster.

So I’m immune to hype, long past buying tops and, very occasionally, turn a nice trade as a result.

Enough to keep my McDonalds cap safely stowed in my bottom drawer, anyways.

Like many of you, I suspect, I approached Web69 with the same, dismissive attitude. At least to start. This is how you win, no?

“Huh... Elon’s tweeting again. Hmmm... Web69, eh? Meh.” Cue torrent of ruggy shitcoins...

But, like you if you’re reading this, a few of my trusted apefrens seemed more interested than usual, and I gave it a second look.

Against my better nature, my interest was piqued, and I took off down the rabbit hole.

Draw your own conclusions, Do Your Own Research, and NFA, sers. But there are too many signs here for me to dismiss this as pure larp.

For the purposes of this article, I’ll stick to the facts.

Joining the dots? That’s down to you...


Elon – Dogecoin - Web69

Elon Musk is a long-time advocate of Dogecoin.

The Tesla CEO remains vocal on his crypto allegiances, also reflected in the adoption of crypto for payments by Tesla and Space X.

Last month, DOGE got an Elon Musk boost on news that SpaceX would soon accept the meme coin for merch payments.

Since then, Elon Musk and DOGE have reunited, with the talk of Web69.


Elon Musk and a DOGE-Based Web69 – Hype or a Reality?

While crypto adoption is the key to the longevity of digital currencies, advancement is also critical.

Web3 has shown, in its early stages, how virtual assets can deliver a paradigm shift to the world as we know it today.

The latest chatter is on Bitcoin-based Web5 and Dogecoin-based Web69.

Recently, former Twitter CEO Jack Dorsey announced the workings of a new internet at Consensus 2022.

Referred to as the ‘Web3 killer’, TBD, a subsidiary of Block Inc., plans to build a decentralized web, based on Bitcoin – Web5.

In contrast to Web3, Web5 would be identity-based to deliver the true ethos of decentralization.

Dorsey followers responded positively to the announcement. One follower tweeted,

“If Jack and Bitcoin can create web5, then Dogecoin can create web69.”

Jack Dorsey responded to the tweet by challenging Elon Musk with a tweet,

“Your move @elonmusk.”

Elon Musk replied with fire emojis to leave the DOGE community wondering whether a Dogecoin-based web69 can become a reality.

A race to deliver a truly decentralized version of the internet to supersede Web3 would be catnip for Bitcoin and Dogecoin supporters.

Click here for more on Musk’s ambitions for the DOGE ecosystem: https://www.businessinsider.in/cryptocurrency/news/elon-musk-says-hes-working-with-dogecoin-developers-to-make-the-cryptocurrency-more-efficient/articleshow/82634886.cms


Timing is everything...

We all know that first movers in crypto always have the advantage: it’s been demonstrated time and again as forks fail, rug or get absorbed by the innovator.

As our dev says, “Web69 supports DOGE ecosystem. Web69 is L2 on Doge which will improve the impact / cost of mining, improve the speed of transactions, and reduce fees. which will enable smart contracts with a whole ecosystem of defi, nfts, meta.”

Even though Dogecoin (DOGE) was created as a joke, it’s shown how smart it is by outmanoeuvring countless other crypto assets to maintain its position as a mainstay of the crypto world.

At the time of writing, DOGE has a marketcap of $7.3 billion: https://coinmarketcap.com/currencies/dogecoin/

Just consider that a moment: $7.3 billion – and this is in a killer bear.

Those who faded, lost.

Crypto is all about the improbable made manifest, wealth-creating, life-changing reality.

What does Musk love best? Making the improbable possible.

DOGE is open source, and has attracted some of the best minds in the crypto space to contribute their efforts into making it more efficient, more eco-friendly, and more attractive and flexible as an ecosystem to rival ETH.

The timing fits.

https://twitter.com/dogecoin/status/1529528909196316673?s=20&t=EAiKRFMl9Q30-Nfwj0stAg


The bigger picture...

When Elon tweets, influential people listen.

https://twitter.com/gnosticgoyal/status/1535620472460611589?s=20&t=w5QL1eCsCvz2hUbgX-O2Zg

Since Musk tweeted his original response to Jack Dorsey, Web69 has been blowing up on Twitter.

To take just one example of dozens, neatly illustrated by @gnosticgoyal in the above tweet, the blue-ticked Dr Jeffrey Guterman, with 400,000 followers - including former president and fervent futurist Barack Obama – can’t seem to get enough of Web69.

What do they know that we don’t?


Where to from here?

Bottom line: there are just too many bullish signals here for my cynical little heart to ignore.

- Dev clearly committed, experienced and always working – insidoor?
- Timing of Web69 contract/releases with Elon tweets?
- Stake web69 to earn DOGE
- wDOGE & ETH<>DOGE bridge for more DOGE adoption.
- DOGE Coin wallet & Incubation of projects building for DOGE ecosystem
- Timing of DOGE L2 development announcements
- (Seriously) well-connected followers
- First mover advantage – coincidence or by design?
- A slice of (current) $7.3 billion ecosystem, with unrivalled future potential

Fade at your peril, boys... I’m backing Web69 for the win.

https://www.web69.dog/

[Anonylz]

No matter how hard Elon tries to promote dogecoin, it won't change its true nature or make it more relevant, to me Elon has found a play thing and that's dogecoin, it doesn't matter what he advocates because in the end all he is interested in is having fun and playing with investors emotion. He is trying to create unnecessary hype with this new web69 as was the case with dogecoin. Maybe it will be something or maybe not but as long as it is coming from Elon i wont be too eager, well for those who chase after hype and knows how to play the game, it will be of advantage.

[serjent05]

I may be ignorant of web69 but wth?  A dogecoin L2 layer but an ERC20 token?  Are you kidding me? Is this another money-grab project that is hyped by Elon Musk?  What happens to the Doge-Based web69 when it is on the ERC20 network.  Explain please to make me understand the essence of why it is on the ERC20 network and not on the Dogecoin chain?

[Xal0lex]

Oh, how many of these projects are already multiplied, I run out of time to keep track of this dump of add-ons and add-ons for DOGE. To answer the question of the topic - Hype or a Reality - of course, a hype. Another attempt to sell useless tokens that are associated with a popular name and project, another attempt to parasitize on a promoted brand. Will anyone remember this DOGE crutch in 2 years? Probably not, they will think of something else.

[TastyChillySauce00]

Another hype and another garbage token was coming again. I will never believe if anything that happened in the doge coin didn't related with the hype. All of things about meme tokens were just about the hype and i will never consider that as a unique thing. It's very long to read your thread but the point will always be the same to promote the garbage token with the hype only.
that's nothing new in this case. Garbage web69 token. That's just another shit scam token that used name of doge coin and elon.
This trick was an old trick.

[Rufsilf]

Many were still following Elon Musk, can't stop them either. However, we can't deny that many people got the benefits from the hypes, they got a lot of money when got in perfect timing (buy and sell). In fact, this is a very common approach to short-term investors/traders, they'll take the chance and earn big but those who can't even follow the trend will absolutely experience losses.

But, I don't have to make myself attached to it, not in the hypes projects anymore. If it happens that Doge will have an opposite direction (pump) that is really hype, yet we've never seen it at this time.