Bitcoin Price Drop! Does Elon Musk Control Bitcoin And Dogecoin?

excited for my mother's day gift i 
just hope it's not dogecoin it is not true so as we saw this joke by Elon Musk 
literally took down the dose from 70   cents to 42 43 cents this just shows how 
unstable the whole crypto market can be   this is why we're going to talk about our cryptos 
good investments what is the future hold for   other cryptos and what does it hold for doge 
we're going to find out in today's episode   so what is the history behind Dogecoin well dosh 
coin was made about 10 years ago it was actually   a joke it was done by an engineer it wasn't 
supposed to be a serious thing it was actually   a joke so think about that the whole value of 
this crypto is based on a joke a meme that's   literally what its value is it's a meme it wasn't 
supposed to be serious but yet now here we are and   it's worth billions of dollars in 2019 Elon Musk 
called himself the dough's father i am your father when he did that back in April of 2019 he 
essentially caused the price of doge to increase   from about 25 cents to about 30 cents think 
about that five cents it may not seem like a lot   but if you had a million dollars worth that extra 
five cents is the a huge huge gain literally   his joke about himself being the doge father 
increased the value that much within 15 minutes   it wasn't like a two-week thing in 15 minutes 
he increased it that much so a lot of doge is   kind of dependent on what Elon musk has to say or 
not say about it and that's kind of an interesting   thing no other currency is contingent on what 
somebody says about it i could joke about my   us dollar it doesn't make my dollar worth anymore 
any less just because of what i say but with doge   a lot of it really is contingent on what Elon 
musk says or doesn't say what he jokes about or   what he's serious about in regards to the door 
so the interesting thing with the doge is a lot   of it really is contingent on what elama says you 
know back when he said something positive about it   calling himself the doge father he increased 
it quite a bit when he joked about it on snl   he brought it down quite a bit actually he 
bought it down a lot so if you had a million   dollars worth and he joked you might have lost 
hundreds of thousands of dollars based on his   his joke so the interesting thing is it's backed 
really by what he says or doesn't say unlike other   currencies let's say like the us dollar which is 
very fragile itself but i can back my dollars by   certain things like such as real estate there's 
certain things i could still back my dollars when   i have a bank account i'm insured so much money if 
something happens but with crypto there really is   no true form of backing other than the blockchain 
technology and that's a whole other complexity in   of itself so it's not essentially really backed 
by anything other than what elon musk has to   say or not say about it as of right now okay 
so the future with dogecoin is going to be   what was that oh okay what is going to be the 
future of crypto such as dogecoin well nobody   really knows but this is what my advice would be 
i have made money in the crypto world i've made   a a decent amount i would take that money once 
i'm profitable and put into something physical   or tangible like maybe real estate something that 
you can physically have on you because the value   of these cryptos is largely contingent on what 
people like elon musk or what others put value on   the minute they don't see value in it it's not 
worth anything whereas let's say i buy a camera   for example a physical product that camera whether 
people are using cryptos money or donuts to pay   for it i still have a physical object that i can 
essentially trade for something that is a value   if all my money is just in this crypto world the 
minute people don't want it or don't see the value   in it i can't take it and we even did a test where 
we went out around town to see if people would   accept our cryptos people were willing to accept 
a dollar to sign up at a gym membership but they   didn't want our dogecoin money so i should show 
you as of right now the world does not want to   accept crypto to that extent so what is the future 
of it a lot of it is really going to be contention   on people like Elon musk and these big time tech 
entrepreneurs and what they say or think of it   and that's really kind of the risk we take his 
tweet can make you millions or cost you millions   technically right so we really don't know 
but get tangible objects that you can   physically have because those whatever 
person's using will retain their value Rommy boy where's my money what is this a dog 
you're coming to my organization with a dog i got   it right here you know full well we don't accept 
that kind of courageousness it's gonna be worth   something one day i know you thought Elon was your 
buddy but everything too much forgiveness for you   it's over this episode you tell elana i say 
hello you're sending me on spacex rom wants   you to succeed and will continue to bring you 
unconventional money making content for free   leave a comment below a like and if you would 
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