Tesla boss posts a video about Dogecoin, responding to Ark Invest’s director of research
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- The video that “explains everything”
- Musk Won’t Sell His DOGE, ETH and BTC
Elon Musk, the head of Tesla, SpaceX and a few other top-tier companies who is a big fan of the meme cryptocurrency Dogecoin, have posted A meme video about DOGE.
This was a response to a tweet by Brett Vinton, Director of Research at Arch Invest, about bitcoin miners. Speaking of mining, the 19 millionth bitcoin was mined on April 1.
The video that “explains everything”
Vinton posted a joke that features a short conversation between someone who understands bitcoin and bitcoin mining, and someone who doesn’t know that “miners” are hardware. Here’s the ignorant mom, i.e. an old school guy who doesn’t understand crypto and doesn’t know that miners are not just people, but micro chips as well.
Elon Musk responded, posting a video about Dogecoin, saying it “explains everything”. The video shows a Shiba Inu dog (symbol of DOGE) riding a rocket that allows it to overtake bitcoin and other major cryptos by market cap. In this the price of DOGE goes up and the coin is going “over the moon”.
Just show him everything this video explains https://t.co/UEEocOfcTb
— Elon Musk (@elonmusk) 1 April 2022
The video also briefly shows the micro chips used for Dogecoin, Bitcoin, Litecoin and other first-gen coins and the proof-of-work mining algorithms used for their off-springs.
Dogecoin co-founder Billy Marcus has joined the discussion, calling the video “the best crypto video in history”.
In the thread below Vinton’s tweet, one commenter also shared his complaints about being unable to explain bitcoin to his wife. Another Twitter user in the late ’60s admitted that he didn’t understand bitcoin, but felt he was missing something big.
Brenton replied that the meme route posted by Musk is too far-fetched for the person in the tweet. But he acknowledged that his five-year-old is already trying to set up an account on Coinbase.
a meme is too far for that i’m afraid
(On the other hand, my 5 year old is now agitating hysterically to set up a coinbase account)
— Brett Winton (@wintonARK) 1 April 2022
Musk Won’t Sell His DOGE, ETH and BTC
In early March, the Tesla chief tweeted that he still had some Dogecoin and the two major cryptocurrencies – Bitcoin and Ethereum. Musk said that he was not going to sell his deposits.
Dogecoin’s price reacted quickly, rising 9 percent, which didn’t last long, though.
In the past, tweets posted by Musk had a strong impact on the price of Dogecoin, causing it to rise with almost every mention in centbillionaire tweets. But now this “musk effect” on DOGE’s price seems to be waning.