Elon Musk did a lot to help the electric car go mainstream, and his Starlink system has kept Ukraine online during Putin’s brutal invasion… So, he’s done a couple of good things, but he’s not the planet’s ultimate genius.

A lot of folks follow his crypto moves like they were gospel – they really shouldn’t.

As far as crypto goes, Musk doesn’t have a clue – and I’ll prove it in a second.

So, the fact that Tesla Inc. (TSLA) is selling off 75% of its Bitcoin holdings isn’t anything to write home about, let alone worry about. I mean, the company just needs to get some cash on hand in case the world goes into a recession. They’d have to sell something no matter what.

But here’s a bigger reason: Crypto isn’t about one dude working up his internet fanboys into a frenzy. If all it took to destroy crypto was a big thumbs-down from Elon Musk, then crypto would deserve to die.

But Elon Musk doesn’t control the future of crypto, even if he thinks that he does. The good news is, it’s totally in our hands.

Here’s what I mean…

A History of Dumb Crypto Calls

To really get my point across that the modern face of high-tech industry on social media doesn’t know jack about crypto, all I have to do is point out that Elon Musk has been a huge supporter of Dogecoin (DOGE).

Dogecoin. He openly endorsed it.

He raved about it and announced his plan to “push it into the mainstream.” Tesla actually holds this junk as an asset. The Boring Company accepts it as payment. Not only that, but Musk has also openly claimed Dogecoin to be superior to Bitcoin (BTC) because of its “lower environmental impact.”

Lower environmental impact – technically true, but then again spilling a bucket of toxic waste has a lower impact than swan-diving into a pool of it.

What Musk isn’t saying is that Dogecoin is only more “environmentally friendly” because it’s such a complete joke that barely anyone wants to mine it. And do mean it’s a joke, specifically a joke played on people who they can make money off of it.

By the way, if cryptocurrency project wants to go green, it moves toward proof-of-stake validation, like Ether is doing.

It gets worse…

Not Many Popular Cryptos Are This Bad

Just as bad, it’s an inflationary cryptocurrency whose supply will just keep going up and up and up. That’s bad tokenomics according to my 5 Ts crypto rating system. We can’t expect it to hold its value long term.

It doesn’t pass my T-for-team test, either. It was created by two guys who made no secret of the fact that it was satire. The “team” behind it is essentially thousands of Redditors.

It also completely fails to satisfy another of my Ts: technology. It’s got no innovative tech to give it a leg up over bedrock cryptos like Bitcoin and Ethereum. It uses the same basic proof-of-work blockchain concept with no new features and sketchy use cases at best. It’s not even better for everyday commerce because it’s too unstable and gets too much attention from speculators… like Elon Musk.

As for timing and token, it doesn’t rate too highly there, either. Why buy it after it’s already exploded and collapsed in price, knowing what we all know now? DOGE doesn’t really solve any problem, either, except maybe boredom.

For the record, DOGE satisfies exactly zero of my five “T” criteria.

The bottom line is that Dogecoin is garbage. Why has Elon Musk been so publicly supportive of it? Maybe It’s a pump and dump with plausible deniability. Maybe all the public praise has gone to his head and made him think he knows everything. Maybe he has more money than he knows what to do with.

We should all be so lucky, right?

So, Elon – super-cool that you’ve taken EVs mainstream and managed to spit in Putin’s eye. Good luck with the Mars, thing, too.

But leave the crypto to me and, if by some chance you happen to see this, go download my 5 T’s guide to finding the best coins to buy. No Bitcoin, DOGE, or dollars required – it’s on me.


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Yuki
2 months ago

Please enlighten me with the recent developments of Singularity Dao and the Dynasets. Is Sdao a buy or is it a ‘wait and see’ ?
Thanks.

American Institute for Crypto Investors Research Team
American Institute for Crypto Investors Research Team
1 month ago
Reply to  Yuki

Be patient, wait & see.

Jeanne De Boer
Jeanne De Boer
2 months ago

I started reading this article. But there are sevrral grammatical and/ or punctuation errors in just the first several sdntences.

I quit reading – thinking if the writer doesn’t know basic English usage why should I expect him/ her to know anything about crypto.

American Institute for Crypto Investors Research Team
American Institute for Crypto Investors Research Team
1 month ago
Reply to  Jeanne De Boer

Look how you spelled the words several & sentences and re-think your question.

Bill Earle
Bill Earle
1 month ago

Come on guys… that’s called illustrative satire!!!

American Institute for Crypto Investors Research Team
American Institute for Crypto Investors Research Team
1 month ago
Reply to  Bill Earle

Exactly.

Bill Earle
Bill Earle
1 month ago
Reply to  Jeanne De Boer

Basing your judgement of someone’s ability to think logically on his/her spelling/grammar expertise (which could symply be typos) is the equivalent of refusing to take your change because you don’t like how the cashier counted it!!

American Institute for Crypto Investors Research Team
American Institute for Crypto Investors Research Team
1 month ago
Reply to  Bill Earle

Nobody is perfect.

Krypto_Knight
Krypto_Knight
2 months ago

I’ll NEVER comprehend WHY so many gullible (really, ignorant) Americans hang on every word from someone like Elon Musk. Oh, wait… Gullible AND IGNORANT. (Never mind.)

American Institute for Crypto Investors Research Team
American Institute for Crypto Investors Research Team
1 month ago
Reply to  Krypto_Knight

This is why I say DYOR so you’re not rug pulled.

Maxine Moyer
Maxine Moyer
2 months ago

Loved your statement about the swan dive into toxic waste. Sometimes we have to realize the world really doesn’t revolve around “me”.

Last edited 2 months ago by Maxine Moyer
American Institute for Crypto Investors Research Team
American Institute for Crypto Investors Research Team
1 month ago
Reply to  Maxine Moyer

Thank you & this is very true.

Robert Carl
2 months ago

I started pandering with crypto over a year ago. What I have seen is those who get their pockets loaded up are those who Get in at ground floor. Only money I made has been with doge, but as I stated a second ago ,I got in at 3cents and again at 9cents. When it ran up in the 70 cent area I bowed out at 62cents and made a healthy lil nest egg. Since then I bought into a company that I had hopes to school me in the finer details but have learned nothing and frankly it has slowed my advancement into this new financial alternatives. I now feel like my best option is to get involved with
Mr. Nick Black and gain priceless knowledge from one of the best , I like his way of being genuinely motivated to help others like me that need a captain at the helm to teach me the proper way to become a crypto SUCCESS!
I praise Nick for his dedication and his gift he is offering us with no string attached.He does not strike me to be foolishly arrogant , He tells you how it is and holds no punches back when he opens his mouth , Nick has my attention
I believe in him and I believe he Is the help that will guide me to much greater knowledge in crypto..

American Institute for Crypto Investors Research Team
American Institute for Crypto Investors Research Team
1 month ago
Reply to  Robert Carl

Thank you

Brian
Brian
2 months ago

Thanks for tellin’ it like it is, Nick!!

American Institute for Crypto Investors Research Team
American Institute for Crypto Investors Research Team
1 month ago
Reply to  Brian

Very welcome.