Elon musk talking about cryptocurrency

Other cryptocurrencies have come along for the ride, and one of the odder beneficiaries has been Dogecoin—heavily promoted on Twitter in the past couple of weeks by Tesla CEO Elon Musk. Dogecoin started in December , at the peak of the first big bitcoin bubble. The idea was to have fun and be silly with a cryptocurrency that was cheap enough to mess around with—each coin was worth a fraction of a cent. They would tip each other dogecoins for amusing comments. The forum got into charity.

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WATCH RELATED VIDEO: Elon Musk explains his views on Bitcoin (B Word Conference)

Dogecoin bolstered by Coinbase addition as Elon Musk tweets continue

A few times throughout , the price of an altcoin called shiba inu appeared to jump after Musk repeatedly posted images of his shiba inu puppy on Twitter.

But on Sunday, Musk clarified that he doesn't own any shiba inu coins and that he only owns bitcoin, ether and dogecoin. Musk also confirmed that he owns bitcoin, ether and dogecoin in July during "The B-Word" conference. On Sunday, he explained why he supports dogecoin, a meme-inspired cryptocurrency that began as a joke in , in particular.

That's why I decided to support Doge — it felt like the people's crypto. His support for dogecoin isn't new. In fact, Musk started to tweet about dogecoin back in Though Musk said he hasn't recently been in contact with dogecoin developers, he has repeatedly mentioned working with them throughout the year.

Musk has even joked about dogecoin potentially becoming the future reserve currency. What would be the most ironic outcome? The currency that started as a joke in fact becomes the real currency. To the moon! But remember, just because Musk or another influencer or executive tweets about a cryptocurrency does not mean it is valuable or a good investment.

Feeding into social media hype will often result in money lost, experts warn. That's in part why investors should always do their own research before deciding where to put their money. As the SEC warned in , "it is never a good idea to make an investment decision just because someone famous says a product or service is a good investment. Experts view cryptocurrency as a volatile, risky and speculative investment.

They warn to only invest what you can afford to lose. As of a. Sign up now: Get smarter about your money and career with our weekly newsletter. Skip Navigation. Patrick Pleul picture alliance picture alliance Getty Images. VIDEO How altcoins like ether captured more and more of the crypto market.

Here’s why Elon Musk thinks that Dogecoin is better than Bitcoin for transactions

Signing out of account, Standby More than 10 different grimacecoin tokens appeared after Musk's Twitter exchange with the fast-food chain. The Twitter-fiending billionaire took to the social media app on Tuesday to propose that the fast-food chain should start accepting his favorite meme cryptocurrency, Dogecoin. I will eat a happy meal on tv if McDonalds accepts Dogecoin. The exchange sent Dogecoin soaring 6.

Tesla CEO Elon Musk and Twitter CEO Jack Dorsey spoke at length Wednesday about the future of Bitcoin, praising the cryptocurrency and its.

"Exactly": Elon Musk's One-Word Advice For All Cryptocurrency Investors

DeFi systems, is a blockchain-based form of finance that does not rely on financial intermediaries such as brokerages, exchanges, or any banks to offer services. Such platforms allow users to keep custody of their Ethereum-based crypto assets. Musk was responding to a CoinDesk story on Twitter, about how Ethereum based DeFi protocol are becoming inaccessible to small investors due to high transaction fees. Read More Cryptocurrencies are the rage: But how secure is your money in a crypto wallet? It was started as a satire on the numerous fraud crypto coins that had sprung up at the time, and takes its name and logo from a Shiba Inu meme that was viral several years ago. Click here to join our channel indianexpress and stay updated with the latest headlines. Must Read. Why should there be a difference between Hindus, Sikhs or Muslims? Home Technology Crypto Elon Musk endorses Dogecoin again, says it can make DeFi more accessible Elon Musk endorses Dogecoin again, says it can make DeFi more accessible DeFi systems aim to provide an autonomous and decentralised option for financial services that are otherwise regulated by banks. The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.

Bitcoin and Dogecoin Are at Elon Musk’s Mercy

elon musk talking about cryptocurrency

That's the situation McDonald's faced recently, when Tesla and SpaceX CEO Elon Musk, who also happens to be the world's most famous supporter of digital cryptocurrency Dogecoin, told his 71 million Twitter followers that he would "eat a happy meal on tv if McDonalds accepts Dogecoin. Later that day, McDonald's posted the following:. Of course, there are lots of ways to take this joke. I saw the reply from McDonald's as innocent, albeit corny--kind of like one of my jokes that make all three of my kids cringe. But what happened next is pretty interesting--and also a little confusing.

Elon Musk's announcement Wednesday that Tesla would no longer accept bitcoin as a payment for purchase of its vehicles caused investors to hit the breaks on the booming cryptocurrency market. Musk said his decision had to do with bitcoin's growing environmental concerns , but some questioned whether that was really the case, considering that Tesla's core products are environmentally friendly electric cars and solar energy panels and it is no secret that mining bitcoin through massive amounts of computer power is an energy-intensive enterprise.

Why Elon Musk's bitcoin U-turn caused a crypto crash

The burger giant on Tuesday received an unexpected social media gift—or maybe a lump of coal, depending on your perspective—when the CEO of Tesla publicly offered the company a deal: He would eat a Happy Meal on television if the company accepted Dogecoin. I will eat a happy meal on tv if McDonalds accepts Dogecoin. Musk and his various companies, including Tesla and the space exploration company SpaceX, hold various forms of cryptocurrency, including bitcoin and Ethereum as well as Dogecoin. Tesla said last year it would start taking bitcoin as payment. The price of Dogecoin rose on the comment Tuesday.

Elon Musk Says Bitcoin 'Almost as BS' as Regular Money after Tesla Buys Cryptocurrency

C ryptocurrency is all the rage today, but in there's a big debate surrounding two of the most popular Shiba Inu and Dogecoin. Both are based on internet meme dogs so their popularity skyrocketed, and even Elon Musk tweeted at some point that Dogecoin would be the currency on the Moon. But, before you throw your life savings into a "meme coin," make sure you know what you're buying. Learn more about the difference between Dogecoin and Shiba Inu below. Dogecoin is essentially the same technology as Bitcoin. Both Dogecoin and Bitcoin use a proof-of-work consensus protocol to verify transactions on their networks.

Prices of bitcoin and other cryptos plunged after Tesla CEO reversed decision to accept digital currency as payment.

Dogecoin surges after Elon Musk says the crypto can be used to purchase Tesla goods

He frequently uses his massive platform on Twitter to post about various digital assets, and often causes wild swings in their prices, leading some in the space to question his true intentions. More Videos Bitcoin and crypto's 'Elon Musk problem'. Spotify agrees to take Neil Young's music off the platform.

McDonalds tweets about 'Grimacecoin' after Musk talks cryptocurrency, eating a Happy Meal on TV

RELATED VIDEO: Elon Musk: Bitcoin and Digital Currency

We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our Cookie Policy. As Elon Musk tweets go, so goes the crypto market. The billionaire and Tesla CEO has been tweeting about crypto a lot, too, sending the price of bitcoin — as well as dogecoin — up and down with fewer than characters.

Whether you follow Reddit or even really knew what it is before , you almost certainly know about the online discussion community now.

Elon Musk delivers laughs, tips hat to cryptocurrency on 'Saturday Night Live'

The age of majoritarianism has birthed a second wave of identity politics across India. As five states are ready to go to polls At no time do the politics of identity play out more spectacularly than during an Indian election. This poll season is no different The year is coming to an end but the falling prices of cryptocurrencies are not.

We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our Cookie Policy. In addition, Musk disclosed that he owned Ethereum and — unsurprisingly — Dogecoin. The price of Ethereum, which was already rising today, rose further on the disclosure.

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