Why am I against Elon Musk? Because he made meme coins a trend

Recently I had a top post about brief Doge price hike and why people still trust Elon after all he is done and you guys showed a lots of support.
Still a big minority bombarded me with different allegations. From being a hater to “butt hurt cause you didn’t buy Doge”.
Today I want to tell you why I, like many others here, found Elon toxic for crypto.

Before Elon started shilling Doge it was a simple meme coin with a fraction of its current value. Very soon after Elon started generating hype around it Doge value sky rocketed.
Now that by itself is not bad. I have nothing against Doge. And I love it when people make profit of crypto. Not because I am such a saint. Because it is good for crypto which means it is good for me.

Then came Shib. Elon again started shilling it. And Shib went from being a Doge “spin-off” to the next big thing in a matter of months. Now Elon himself has a huge bag of both. So he made hundreds of millions if not billions in the process. Now remember, money don’t appear out of thin air (unless you are federal reserve). Many people invested in those two coins. Early buyers made huge profits while those who entered the market at top suffered huge losses (remember 1$ Doge myth?).

Now I have my suspicion about market manipulation by mr Musk but he is innocent until proven otherwise. Least I can say is that his backtrack from his previous promises and public bashing of coin he himself promoted looks really wrong if not shady. But my main problem is something else.

Specially after Shib’s astronomical success, people learned that by making a meme coin and shilling it they can make millions. Specially if someone famous was promoting it. And so the golden age of meme coins started. You can see it by the amount of dog and cat coins out there. They are Doge and Shib’s unwanted children. And people losing money investing in them hoping they become the next Shib.

It is a game that Elon Musk started. He was the one who popularized “Buy a meme coin and get rich before a year” mindset. A game that took millions of victims so far. Of course Elon did not made all those shitcoins himself, nor he shilled them to scam people, but he opened the way and made it trendy. And the biggest victim is the crypto market itself which now looks like a circus full of shitcoins and scams.

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38 thoughts on “Why am I against Elon Musk? Because he made meme coins a trend”

  1. Elon didn’t start the game of pump and dump shit coins. Yes Elon does shill DOGE, but so does everyone else with all the other bullshit projects out there. Even mob mentality can be responsible for shilling. Remember Saitama? That one was shilled to the ends of the earth by the general public on nothing more than social media and now look at it.

    Elon just gets made as a scapegoat because everyone knows his name.

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  2. Musk likes to manipulate the markets. I think he enjoys seeing how coins pop any time he references one. He can get in lots of trouble for doing this with the stock market, but he can do whatever he wants in the crypto sphere.

    I don’t think he has the average schmo’s best interests in mind when he pumps a meme coin. I think he’s just having fun. That said, I don’t think he intends to hurt or help anyone. I think he just doesn’t care.

    If you told him you lost all your money in Doge after he went on SNL, I just really have a hard time believe he’d care very much. It’s a game to him.

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  3. People in this sub are all jacked up on this topic.

    Dogecoin is not the enemy – it existed before Elon and it will continue after he is gone. It is a worthy protocol that has an important place in the ecosystem.

    Elon Musk is a modern day PT Barnum. He’s clever but anyone heaping praise on him has shown, manifestly, that they are not. The dogecoin community’s bewitchment by him is sad and unfortunate.

    Shiba Inu and whatever else are shameless, grifting imitators and are rightful garbage.

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  4. As much as I can’t stand him, I’d be lying if I didn’t say he was somewhat good for crypto.

    He brought awareness.

    He brought a new crowd to learn about crypto.

    Sure, most of them likely bought Doge but I guarantee you those people that bought into the Doge craze likely tried to learn about what other projects could make them money for it.

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  5. As an investor you have to take emotion out of it as the hate does not serve you well. Accepting the trends and pivoting along with them is how you make money here. Elon Musk and/or any shitcoin isn’t going to have a negative impact on my portfolio because it’s all just noise. At the end of the day, for a technology that is absolutely not going anywhere, any amount of noise—be it eccentric billionaires, dogshit tokens or even, gasp!—rugpulls…it’s all gravy.

    You sit. You observe. You allocate. You adjust. You repeat.

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  6. >the biggest victim is the crypto market itself which now looks like a circus full of shitcoins and scams.

    Woah woah, hold on. Who hurts you OP?

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  7. Elon Musk is a snake oil salesman. People get enamored by his quirky autistic nature and think he’s tech-jesus but he’s an absolute charlatan.

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  8. There are loads of Musk fanboys in the crypto sphere, it’s weird how they don’t view him as the narcissistic maniac he is.

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  9. Who cares,I got in because of doge,like alot of other people. It seemed fun until other people started telling me what I should invest in. Thank doge for the amount of people and the pump last year. Most people bought better projects after that but doge is what brought the people in.

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  10. I’m against anyone who lies about timelines as often as Musk has, regardless of what industry or technology they are in. Examples Musk promised:

    1. An underground “Chunnel” between Alaska and Russia would be opening in 2022, connecting the two continents. To date, The Boring Company has not even secured a single permit to dig on either continent.
    2. A fleet of AI-driven robots would be launching in 2018, landing on Mars in 2022, to begin terraforming the planet and building the shelters for the manned mission launching in 2025 and landing on Mars in 2028. To date, nothing even remotely close to anything related to this promise has even been started.
    3. Tesla would be selling cars in 2019 with a fully-functional self-driving system, enabling owners to offer their cars as a ride-hailing service (Uber, Lyft, etc) to offset their purchasing cost. To date, Tesla released a controlled “beta” of their self-driving software which requires constant human supervision.
    4. Tesla promised the release of the Class 8 semi-truck in 2017. To date, the truck is slated for production in 2023.

    Honorable mention: The HyperLoop, a vacuum-sealed maglev train which defies the laws of physics and was abandoned as a concept as long ago as the 1930 World Fair. Because a vacuum tube is impossible. Instead, we have the Vegas Loop in which human-driven cars drive in death-trap tunnels at 15mph, carry a fraction of the number of passengers promised and has been demonstrated dozens of times (look up YouTube videos) to be slower than walking around downtown.

    What Musk has done in the crypto space is only sugar on top, or salt in the wound, depending on your preferred poison.

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  11. that’s your biggest complaint about that jerk-off?

    you give him too much credit. he didn’t start memecoins, he jumped on the bandwagon.

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  12. memecoins were the best thing that ever happened to crypto. i had so much fun trading them last year, too bad the trend disappeared and now we have all these nonsense move-to-earn tokens

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  13. Just give it a break with memecoins, they’re not going anywhere.

    The sooner we start accepting that they’re a part of crypto the sooner we will grow.

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  15. First… DYOR on any investment you make Second… famous people have been shilling products and telling you how to spend your money since the beginning of time so nothing is new here. Third… Elon is just a hot topic right now and that’s it.
    Doge coin being a cheap entry point not like Bitcoin made it a crypto anyone could try out. With Robinhood making it really accessible to buy is what started to draw in new investors into the space. When things get hyped… people jump on the bandstand yolo in. I remember seeing snoop dog make posts about Doge also. Crypto is the Wild West right now and if you yolo all your money in and lose it, we’ll then you have no one to blame but your damn self. Blaming Elon is just a lazy way of you not trying to see the bigger picture and finding an easy target. Elon is not a god nor is he to blame for everything. He is just a guy that does what he wants and if you follow him that is your choice. I think there is way too much focus on him.

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  16. Doge trended way before elon started tweeting about it and yes only explernation i can come up with is you being butthurt you where to late, your whole argument is “its all elons faulth and he got rich” anyone who was early in doge got rich simple as that, doge trended way before elon to, so your wrong there to.

    Shitcoins getting popularity? well would say some is on elon as alot follow his tweets, but again doge went up before elon came into pic, so if anything you could blame the meme and dogecoin creaters for this shitcoin hype, but instead you focus on a random popular dude who posted some tweets, either you simply dont like elon or your butthurt you didnt enter early enugh.

    Will also add this as a end, you sau people lost mills in shitcoins, if i dont remember wrong back in 2018 if im not compleatly off the mark, people took up loans and threw money left and right at bitcoin, then it went from 19k to 3k, was that musks faulth to?

    Fact is people will lose money on stupid shit no matter who promote it, hell some people even threw money at a pornstars nft project and was suprised when they got ruggpulled, im sorry to say it, but 80% of scams and ruggpulls in crypto is simply the victims pure stupidity, does it make it ok?

    NO, but at one point people need to take responsibility for their own dumb ass actions to, if you take a gunn and shot your self in the leg and act suprised then go on to blame the gunn, because thats where the bullet came from, is it ok? no, no one should get hurt, but truth is if you do something as dumb as that you only got your self to blame.

    Also a popular scam i seen, some dudes on a fuking dating site, they meet a chinese lady who pitch them this awezome bitcoin farm deal, they only need to give some and they get more back, then they are told to invest more and they do it and lose all their shit…………….REALLY?????? When the hell did any of you guys on tinder or wherever your on your dating sites go “hey im bob i like oceans and tv shows, ALSO INVEST IN THIS CRYPTO ITS A GREAT IDEA!” no one in their fuking right mind would start pitching crypto/stock deals on a dating site, the fact people even fall for this amaze me, its like hearing about people losing money because they sendt 10k to a neurubian prince, tho told them he needed 10k to get back to power and would 10 fold it back.

    People who earned/lost money on meme coins only got them selfs to blame, its not elons faulth or anyone else for that sake, its their own faulth, take some fuking responsibility for your own actions and stop blaming everything and everyone else for your dumb mistakes.

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  17. I like the guy, but you are giving him too much credit.

    He helped and is helping crypto adoption, but not as.much as this sub thinks.

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  18. Not that I love Elon musk he is definitely doing some shit I don’t like, like destroying Astronomy with his starlink(that will probably work, just be redundant when ground tech can go a couple hundred miles with one tower). That being said the people he doesn’t like I also don’t like even a lot more than Elon musk. He doesn’t like the sec, does anyone here like the sec? Or the censorship kings over at twitter? Or senator Warren who wants to only do a draconian overhaul of crypto.

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  19. Eh, Crypto is to make money believe it or not. People like my uncle made $250k+ from Doge and he works at some min wage cook job. This benefits people and it’s a game about finding what’s the next big thing, shitcoin or not, the goal is to make money. Be the winner or become the loser. Don’t sit and complain, start investing in everything, money talks.

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