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[aryan4]

In his most recent tweet, Musk addressed those holding large amounts of Dogecoin. Musk criticized the wealth distribution in the cryptocurrency.
Musk used the following statements:
---- "If the big Dogecoin owners sell most of their coins, they will get my full support. I think the only real problem is that there is too much agglomeration / concentration. "----
What do you think of these statements?

 

[BullyMaguire]

I mean it's only normal and elon will make the price rise again.. he can do it. He probably just wanted to get the price to as cheap as it is before lmao

 

[aryan4]

I mean it's only normal and elon will make the price rise again.. he can do it. He probably just wanted to get the price to as cheap as it is before lmao

As a small investor, I don't fully understand what Elon wants to do and I don't even want to understand anymore. I think there are a lot of small investors who lost due to various statements Elon made.

 

[BullyMaguire]

As a small investor, I don't fully understand what Elon wants to do and I don't even want to understand anymore. I think there are a lot of small investors who lost due to various statements Elon made.

It's just me but i think elon already saw "perhaps" that doge wouldn't be able to go at $1 despite having the news of him buying already. So maybe he wants to get it dropped and buy off again

 

[Niftyicon]

We know that behind every statement he makes as a businessman there is probably some reason to his own benefits. I wait to see how many doge whales will respond to this.

 

[frost]

he said this too

@ElonMusk
https://twitter.com/elonmusk
·
Feb 15

I will literally pay actual $ if they just void their accounts

i don't know if its good idea to sell our dogecoin and stuff like he mention or maybe its gonna be good so the price get down and it will be fair start from the beginning, if it is than how do we contact him to get paid as he said haha lets get that money and we can buy again when dogecoin crash

 

[aryan4]

Dogecoin has been quiet on all sides for a long time. It has not been brought up by Elon recently, and there seems to be no news sharing about this coin.

 

[Wisdom01]

I think of recent elon musk hasnt been promoting the coin and the price of the coin have been moving just slow , i just hope he returns back to its formal position and promote the coin

 

[microunit]

Although sure elon hasn't been memeing on the coin recently but, positive thing too is that dogecoin seems to be retaining it's position rather than it plumetting down

 

[Binita100]

Elon musk should keep promoting the coin , although i was expecting him to use dogecoin as telsa payment method , but i was a bit surprised ,this shows he too is unsure about the coin

 

[Wisdom01]

Elon musk should keep promoting the coin , although i was expecting him to use dogecoin as telsa payment method , but i was a bit surprised ,this shows he too is unsure about the coin

He is still watching the coin and maybe he is taking note of the wild dogecoin flunctuation when thousands of dollar is imvested in the coin

 

[Binita100]

He is still watching the coin and maybe he is taking note of the wild dogecoin flunctuation when thousands of dollar is imvested in the coin

Many imvestors might halt investing in dogecoin because of this and they would focus on investing in bitcoin , since telsa is building a project around it

 

[Dora_WalletInvestor]

Elon musk should keep promoting the coin , although i was expecting him to use dogecoin as telsa payment method , but i was a bit surprised ,this shows he too is unsure about the coin

I think he has a point, though. Crypto is supposed to be decentralised, and if the majority of the supply is in a few whales' hands, that makes it function similarly to a centralised asset.

 

[Wisdom01]

I think he has a point, though. Crypto is supposed to be decentralised, and if the majority of the supply is in a few whales' hands, that makes it function similarly to a centralised asset.

Yeah true if the coin is been done by only telsa then its centralised and it won't attract investors to invest more in the coin to earn profit

 

[Binita100]

I think he has a point, though. Crypto is supposed to be decentralised, and if the majority of the supply is in a few whales' hands, that makes it function similarly to a centralised asset.

I know that if its been made centralised , it would only favour some few individual ,who would capitalise more on the it to turn the price of the coin to their favour

 

[Wisdom01]

The big issue is many investors dont know if the coin is centralised or not , they invest because they see many high rank individuals promoting it

Before you invest make proper research so you can know if a coin is centralised or not before investing and you would not make too many mistakes

 

[LutherKing]

all cryptocurrencies are decentralized in true sense , that's why they are called cryptocurrency , but the affect of countries like america , Korea, china and their laws make great impact , looking it more centralized every-time it moves down more than significantly due to news so you can say the nature of decentralization is put in questions here to be honest in my opinion with such things happening especially to bitcoin

 

[GoldenLady]

In his most recent tweet, Musk addressed those holding large amounts of Dogecoin. Musk criticized the wealth distribution in the cryptocurrency.
Musk used the following statements:
---- "If the big Dogecoin owners sell most of their coins, they will get my full support. I think the only real problem is that there is too much agglomeration / concentration. "----
What do you think of these statements?


View attachment 162605

It never signals something good when wealth is too centralized. If one of the whales sells off it's holdings, the price can crash terribly and affect holders.

 

[Dora_WalletInvestor]

It never signals something good when wealth is too centralized. If one of the whales sells off it's holdings, the price can crash terribly and affect holders.

Definitely, an investor's effect on a market is magnified if they hold a big portion of the market cap. At the same time, if people trust a coin enough, it could recover, giving more people a chance to buy in.

 

[Niftyicon]

He's in support ofcourse. What kind of investor would buy at a high price, lol. I think he is waiting for the price to reduce so that he can invest more

He is a businessman after all and I doubt he would be against being one of the dogecoin whales himself, that is if he is not one already.