Elon Musk tweeted and caused increasing pain to the crypto market

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Last week, when Elon Musk He said on Twitter that he had discussed with the Doge developer team how to improve the efficiency of the token, and the impact is predictable: Dogecoin To the moon. In the past few weeks, this is just the latest in a series of Musk announcements that have sent viral tokens on a roller coaster.

Michi Lumin, a Colorado developer dedicated to maintaining cryptocurrencies, said, however, it surprised Doge’s core development team. Yes, Lumin said that Tesla and SpaceX billionaires have been “instilling ideas” with the team, including how to improve the efficiency of Dogecoin. They welcome his opinion. But he said that Musk’s recent series of tweets to promote the Governor and criticize Bitcoin has attracted strong attention. This is a bit pressure and has aroused ridicule from critics, who believe that the Governor is just a joke and has thrown the market into chaos. Their coins may be based primarily on hype, but they plan to remain cautious.

He said: “We are not Eloncoin.” It seems, except for Musk’s decision to tweet.

Musk’s influence is not limited to the governor.Last week, Musk also tweeted that due to climate issues, after three months, Tesla did not accept Bitcoin in exchange for cars He first said Will do. Very good, Elon.Due to wired written on A lot of TimesBitcoin uses enough energy to power medium-sized countries, and a significant portion (albeit fierce competition) comes from fossil fuels, such as coal. The biggest mystery is why this was not a problem for Musk a few months ago. Maybe this is a green marketing initiative or some kind of regulatory precedent. Maybe this is just a troll, intending to make all of us think about the value of things for tautological considerations.

For whatever reason, Musk created and destroyed a small fortune of 280 characters at a time. Slow Ventures’ blockchain investor Jill Carlson (Jill Carlson) said: “This looks terrible and extremely unreasonable.” When Musk first announced that Tesla would use Bitcoin as a car , And when the company was buying $1.5 billion worth of bitcoins, he issued a soaring value. When he retreated last week, the news wiped out $300 billion from the market in a matter of minutes.His subsequent condemnation over the weekend included Tweets on sunday This suggests that Tesla may have unloaded its Bitcoin holdings, which has pushed prices further down. (he Clarify later The company did not sell. )

At the same time, his regular tweets mentioned that Dogecoin (usually heavier than a joke, not substance) put the market into a weak state, although he continued last week Saturday night live He called it “hustle and bustle”, so it sucked until he resurrected it with one hand with a green tweet.

“I am not satisfied with any individual or small entity that can manipulate the market. I guess this is the cryptocurrency we use now.” said Lumin, a Doge developer. “That’s not great, that’s for sure.”

Maybe it’s five-dimensional chess, or just a whim. After all, the Governor is a weird choice that champions environmental choices. It runs on an energy-intensive system similar to Bitcoin, and there are many cryptocurrency alternatives that use cleaner methods, none of which are mentioned in Musk’s Twitter feed.Weekend, he Suggest If his Dogecoin plan does not work, he will recreate a cryptocurrency on his own. Carlson said: “He seems to be mainly out of his own entertainment motives in Dogecoin.” “He will dabble in these big issues, and then set up so that he can become a hero.”



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