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I was recently watching a video where some wall street guy was talking about ‘DeFi’ (Decentralized Finance) and how the majority of people in the US would eventually be blind sided when crypto basically becomes the standard for saving and spending (I’m paraphrasing).

The potential seems quite exciting, the fact that central banks and the money printing scheme might be overtaken by these new technologies. Many of these cryptos are gaining footing in the 2nd and 3rd world, apparently it’s only a matter of time before the 1st is forced to adapt and adopt crypto. It kind of reminds me of the early internet. Early on, only nerds and tech savvy individuals were able to navigate the technology until eventually smart phones and social media made it accessible to thots and plebs. Eventually, the same could be true for crypto as it becomes more and more easy to navigate and deal with, then every tard will be buying cat and dog coins.

I was recently watching a video where some wall street guy was talking about ‘DeFi’ (Decentralized Finance) and how the majority of people in the US would eventually be blind sided when crypto basically becomes the standard for saving and spending (I’m paraphrasing). The potential seems quite exciting, the fact that central banks and the money printing scheme might be overtaken by these new technologies. Many of these cryptos are gaining footing in the 2nd and 3rd world, apparently it’s only a matter of time before the 1st is forced to adapt and adopt crypto. It kind of reminds me of the early internet. Early on, only nerds and tech savvy individuals were able to navigate the technology until eventually smart phones and social media made it accessible to thots and plebs. Eventually, the same could be true for crypto as it becomes more and more easy to navigate and deal with, then every tard will be buying cat and dog coins.

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Well, recently there was what appeared to be a concerted effort to FUD the market with bad news and scare a lot of crypto holders into dumping their coin. BTC dropped from about 40k to 30k in an instant and then almost immediately shot back up. It’s presumed that the whales bought everyone’s coin that they had just dumped out of fear and got significantly more rich by playing the market essentially.

Elongated Muskrat certainly had a hand in this and may even have been pressured. He also helped calm people’s fears after the dump by tweeting ‘Tesla has Diamond Hands.’ Initially, he began the decline of BTC by condemning the coin claiming is was bad for the environment more or less. According to zerohedge, a lot of this fiasco also had to do with fake news about China banning crypto (see reuters). So yea, Musk is pretty influential regarding crypto prices and it certainly looks like big players played the market at the expense of the plebs recently.