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[crypworld]

Tesla's CEO Elon Musk announced, his car company would resume to accept payments in bitcoins again, once there is a reasonable confirmation that miners are able to use 50% of renewable energy mining bitcoin.

This could be good news for crypto fans because we can see a surge in the bitcoin value after Musk made this announcement in his tweet.

Surely, this would have a great impact in the crypto industry because Elon Musk has about 52 million twitter followers but we traders, investors and users should have strong fundamental principles and don't fall for the crypto market manipulation of these big guys. We just need to focus how bright the future is for the crypto industry.​

 

[Niftyicon]

but we traders, investors and users should have strong fundamental principles and don't fall for the crypto market manipulation of these big guys. We just need to focus how bright the future is for the crypto industry.​

This is easier said than done. I agree that the big guys manipulations should be stopped but unfortunately, their influence is just too deep that the markets is easily affected by them.

 

[Wisdom01]

I think he might just want to do some manipulation again ,because his post about bitcoin then affected the price ,so he need a high price since te'sa shares was afected

 

[microunit]

I mean tesla already did accept bitcoin before when bitcoin was making headlines but because dogecoin took the spotlight they dumped bitcoin then jumped to dogecoin which is a btch move imo

 

[Wisdom01]

I mean tesla already did accept bitcoin before when bitcoin was making headlines but because dogecoin took the spotlight they dumped bitcoin then jumped to dogecoin which is a btch move imo

I mean tesla already did accept bitcoin before when bitcoin was making headlines but because dogecoin took the spotlight they dumped bitcoin then jumped to dogecoin which is a btch move imo

They have forgotten that dogecoin is more dependent on bitcoin price to rise more in price ,so the move they took have spoilt alot of things

 

[microunit]

They have forgotten that dogecoin is more dependent on bitcoin price to rise more in price ,so the move they took have spoilt alot of things

Well not always exactly, dogecoin has just been overhype, during the hype time of dogecoin , bitcoin didn't grow that much compared to dogecoin

 

[Razor1911]

Well not always exactly, dogecoin has just been overhype, during the hype time of dogecoin , bitcoin didn't grow that much compared to dogecoin

Yes. Because Bitcoin has become heavyweight. To make to grow more, it will require to add a hell lot of market cap to it, means huge money will be required.

 

[Wisdom01]

Yes. Because Bitcoin has become heavyweight. To make to grow more, it will require to add a hell lot of market cap to it, means huge money will be required.

Exactly considering the value of both bitcoin and dogecoin ,since dogecoin is of smaller value it could easily double and thats a big advantage on its own

 

[microunit]

Yes. Because Bitcoin has become heavyweight. To make to grow more, it will require to add a hell lot of market cap to it, means huge money will be required.

Yeah, and as bitcoin grows and the more demand it gets so as its transaction fees and network traffic grows, which it is kinda having a hard time scalaing along with the demand

 

[Wisdom01]

Yeah, and as bitcoin grows and the more demand it gets so as its transaction fees and network traffic grows, which it is kinda having a hard time scalaing along with the demand

When there are more transaction fees the demands might be affected slightly ,because those sending bitcoin on a daily will have to wait to see if there would be reduction

 

[microunit]

When there are more transaction fees the demands might be affected slightly ,because those sending bitcoin on a daily will have to wait to see if there would be reduction

Well yeah, Most people turning to cryptocurrency are people who don't want too much big transactrion fees with bank transfers so they wouldn't want to pay large trans fee for crypto too

 

[Razor1911]

Yeah, and as bitcoin grows and the more demand it gets so as its transaction fees and network traffic grows, which it is kinda having a hard time scalaing along with the demand

That is the main reason why people are now shifting towards small coins. Since the market cap of small coins is less, hence small amount of money can have a huge impact for growth, perfect for the big whales.

 

[microunit]

That is the main reason why people are now shifting towards small coins. Since the market cap of small coins is less, hence small amount of money can have a huge impact for growth, perfect for the big whales.

Yep, small coins usually have less userbase, so the split of power is quite big between the users of the coin , though sometimes it's not always a guarantee that the coin will grow

 

[Razor1911]

Yep, small coins usually have less userbase, so the split of power is quite big between the users of the coin , though sometimes it's not always a guarantee that the coin will grow

But even if small fraction of the total bitcoin market cap is injected, that will have a huge impact on the coin. There are many coins which has total market cap less than 10 million, if people start investing even 10 million addition will alter the market in huge quantity. 10 million is not that high, compared to bitcoin market cap.

 

[Yugocean]

Don't trust Musk in this, he previously said the same too and took U turn immediately before finalizing it; then he started giving hints of accepting dogecoin, but now again turned to Bitcoin.

 

[Razor1911]

Don't trust Musk in this, he previously said the same too and took U turn immediately before finalizing it; then he started giving hints of accepting dogecoin, but now again turned to Bitcoin.

He is like more of a roller coaster ride for the crypto market. Either he is a fool who doesn't have any decision taking power, or he is extra smart to play with the whole crypto market. In either way, crypto investors are really angry with him.

 

[Razor1911]

Elon Musk then again say that they will not accept Bitcoin anymore. If he thinks bitcoin's price capability is risky then it's better to avoid.

It is not about risk anymore. When the bitcoin price was low, I guess he has bought some stake in it. And now trying everything to move bitcoin higher.

 

[microunit]

Elon Musk then again say that they will not accept Bitcoin anymore. If he thinks bitcoin's price capability is risky then it's better to avoid.

He's just manipulating the market so that he will have his profit because He still have some bitcoin so he's worried that the value is going down because value of his assets will go down too

 

[Razor1911]

He's just manipulating the market so that he will have his profit because He still have some bitcoin so he's worried that the value is going down because value of his assets will go down too

Not that he still have. When he bought Bitcoin earlier, he sold everything and then commented that bitcoin is a crap. Now at lower level, he had bought Bitcoin again and now saying like this. This is a pure game , nothin else.

 

[microunit]

Not that he still have. When he bought Bitcoin earlier, he sold everything and then commented that bitcoin is a crap. Now at lower level, he had bought Bitcoin again and now saying like this. This is a pure game , nothin else.

Yeah, what he's doing is laughable really that he's still trying to manipulate the market and just wants to profit, If he just shuts up and just buy if he wants to it would be much better