According to Business Insider's "Markets Watch" : A single digital wallet currently owns 36.7 billion dogecoin, or 28% of the cryptocurrency's entire supply (although the headline says $22 billion).
I wonder if they even realize it.
I'm always still in trouble again
"You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
"Overall I would rate the withdrawal from Afghanistan as by far the best thing Biden's done" --Starlight
"Of course, human life begins at fertilization that’s not the argument." --Tassman
According to Business Insider's "Markets Watch" : A single digital wallet currently owns 36.7 billion dogecoin, or 28% of the cryptocurrency's entire supply (although the headline says $22 billion).
One of the talk shows I was listening to on cybercurrency was dealing with that very issue --- how much cybercurrency is there out there locked up forever in lost appliances or lost passwords or simply mined and forgotten.
The first to state his case seems right until another comes and cross-examines him.
According to Business Insider's "Markets Watch" : A single digital wallet currently owns 36.7 billion dogecoin, or 28% of the cryptocurrency's entire supply (although the headline says $22 billion).
I wonder if they even realize it.
I suspect it is Musk's son. He said his son is invested in Doge
In retrospect it would have been nice to invest in it several years ago. The main reason I didn't was thinking US regulators might pull the rug out at any time, and of course that didn't happen.
"I am not angered that the Moral Majority boys campaign against abortion. I am angry when the same men who say, "Save OUR children" bellow "Build more and bigger bombers." That's right! Blast the children in other nations into eternity, or limbless misery as they lay crippled from "OUR" bombers! This does not jell." - Leonard Ravenhill
"You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
"Overall I would rate the withdrawal from Afghanistan as by far the best thing Biden's done" --Starlight
"Of course, human life begins at fertilization that’s not the argument." --Tassman
seems like Elon Musk is taking advantage of the lack of SEC regulation on crypto to manipulate the market.
In February, he bought 1.5 billion dollars of bitcoin and announced that Tesla would take bitcoin as payment. Prices jumped.
Then yesterday, he announces that Tesla WON'T take bitcoin as payment because it uses too much fossil fuel to mine. Prices have dropped. He said he was holding on to the bitcoin he has though which has kept the price from crashing. probably going to keep doing his manipulation though. He has done this with the stock market before and the SEC slapped his wrist, but they don't regulate crypto.
He has also done it with dogecoin. dogecoin started out as a joke crypto made from a meme. Elon bought some and has been pumping it and claiming to be the dogeking and said he was going to take some to the moon. again, price jumped.
Another reason why crypto is so volatile and risky: no regulation from fraud or manipulation. So be careful. Still could be a good investment but don't invest anything you aren't able to lose. I am using some extra money I saved over the last year sitting at home not buying anything or going anywhere (thanks pandemic)
seems like Elon Musk is taking advantage of the lack of SEC regulation on crypto to manipulate the market.
In February, he bought 1.5 billion dollars of bitcoin and announced that Tesla would take bitcoin as payment. Prices jumped.
Then yesterday, he announces that Tesla WON'T take bitcoin as payment because it uses too much fossil fuel to mine. Prices have dropped. He said he was holding on to the bitcoin he has though which has kept the price from crashing. probably going to keep doing his manipulation though. He has done this with the stock market before and the SEC slapped his wrist, but they don't regulate crypto.
He has also done it with dogecoin. dogecoin started out as a joke crypto made from a meme. Elon bought some and has been pumping it and claiming to be the dogeking and said he was going to take some to the moon. again, price jumped.
Another reason why crypto is so volatile and risky: no regulation from fraud or manipulation. So be careful. Still could be a good investment but don't invest anything you aren't able to lose. I am using some extra money I saved over the last year sitting at home not buying anything or going anywhere (thanks pandemic)
A) So good time to buy?
2) "it takes too much fossil fuel to mine"?
The first to state his case seems right until another comes and cross-examines him.
seems like Elon Musk is taking advantage of the lack of SEC regulation on crypto to manipulate the market.
In February, he bought 1.5 billion dollars of bitcoin and announced that Tesla would take bitcoin as payment. Prices jumped.
Then yesterday, he announces that Tesla WON'T take bitcoin as payment because it uses too much fossil fuel to mine. Prices have dropped. He said he was holding on to the bitcoin he has though which has kept the price from crashing. probably going to keep doing his manipulation though. He has done this with the stock market before and the SEC slapped his wrist, but they don't regulate crypto.
He has also done it with dogecoin. dogecoin started out as a joke crypto made from a meme. Elon bought some and has been pumping it and claiming to be the dogeking and said he was going to take some to the moon. again, price jumped.
Another reason why crypto is so volatile and risky: no regulation from fraud or manipulation. So be careful. Still could be a good investment but don't invest anything you aren't able to lose. I am using some extra money I saved over the last year sitting at home not buying anything or going anywhere (thanks pandemic)
Agreed. He is singularly manipulating the value of cryptocurrenices. He tweeted the other day asking 'should Tesla accept Dogecoin for purchase?' and it jumped in value. It was an obvious ploy to prop it up, and it worked temporarily.
I suspect his badmouthing Bitcoin is ultimately another plan to prop up Dogecoin.
A) So good time to buy?
2) "it takes too much fossil fuel to mine"?
see your PM. the price is still dropping but I think it will eventually go back up. Musk didn't sell his bitcoin which is telling. Some people think he is using this to set the stage to sell a green energy bitcoin mining rig he comes up with to "solve the problem"
Blockchain is from what I understand a distributed encrypted ledger/database containing all of the crypto. Every time you buy or sell it has to be processed and re-encrypted and added back to the blockchain. That takes calculation power which in turn uses electricity which uses fossil fuels mostly. You can earn bitcoin transaction fees by processing these transaction. You can also "mine" new crypto by solving some algorithms adding more available bitcoin to the blockchain. Bitcoin encryption is very complex and takes a lot of power. The mining boxes for crypto are usually dedicated servers filled with GPU cards or special processor cards built just for mining/processing. for most people, it would take more electricity costs to mine the crypto than you would earn.
see your PM. the price is still dropping but I think it will eventually go back up. Musk didn't sell his bitcoin which is telling. Some people think he is using this to set the stage to sell a green energy bitcoin mining rig he comes up with to "solve the problem"
Blockchain is from what I understand a distributed encrypted ledger/database containing all of the crypto. Every time you buy or sell it has to be processed and re-encrypted and added back to the blockchain. That takes calculation power which in turn uses electricity which uses fossil fuels mostly. You can earn bitcoin transaction fees by processing these transaction. You can also "mine" new crypto by solving some algorithms adding more available bitcoin to the blockchain. Bitcoin encryption is very complex and takes a lot of power. The mining boxes for crypto are usually dedicated servers filled with GPU cards or special processor cards built just for mining/processing. for most people, it would take more electricity costs to mine the crypto than you would earn.
gotcha
The first to state his case seems right until another comes and cross-examines him.
Comment