The SEC will investigate Musk’s tweets about Dogecoin. Musk: It would be great. It will stand the test of time and will reflect its value.
The US Securities and Exchange Commission (SEC) will investigate the CEO of Tesla, Elon Musk, and his tweets about Dogecoin. Musk responded to the news and said: “I hope they do. It would be great.” As of the close, Tesla closed 8.06% to $682.22, while Dogecoin fell 5.08% to US$0.052 per coin. The final hard asset competition is how many people holding an asset rather than selling it (i.e. HODL), not how useful it is. Such assets, in history, are only gold and Bitcoin. Gold is the product of the hegemony of the U.S. dollar, while Bitcoin and Dogecoin are the product of resisting the hegemony of the U.S. dollar.
If you observe the value flow closely, people chase the sky in times of prosperity, and avoid liquidity in times of crisis. The safe-haven assets are also victims of liquidity crises.
If there is something that can capture value in any situation, Bitcoin can only be regarded as better. Why is better and not best? Due to the liquidity crisis, its price was severely dropped to more than US$3,000, which was not acceptable to many people at that time.
However, during the most promising time for some HODLer, it was further “decentralized”.
Therefore, if I only choose a standard that I have in mind to measure fairness and justice, I will choose the degree of decentralization: how many people have it, can have it, and how many people choose to hold it.
Anything that can survive the test of time, can survive.
Let’s talk about another kind of special decentralized currency: an interesting joke-Dogecoin.
The MEME of Dogecoin has recently returned to people’s attention due to the continued endorsement of Elon Musk. Musk bluntly tweeted to promote the further “decentralization” of Dogecoin. Are Bitcoin and Dogecoin undervalued? Consider the tweet of Musk for decentralized asset value, “If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue in my opinion.”
I have no opinion on other cryptocurrencies. I joked about Dogecoin because this currency is treated as a joke, but fate loves irony.
The founder of Dogecoin, Billy wrote on the Reddit that he created Dogecoin to bring “positive energy” to the world. It has no practical use, just like emoticons can convey empathy and strengthen the distance between people with precise expression, it belongs to everyone, no one can control it. No one has the need and motivation to control it.
Why? Because it’s useless. How valuable is this? I suddenly have some thoughts:
Idea 1: Treat Dogecoin as a gift. Instead of giving gifts on New Year and holidays, we can give Dogecoin.
Idea 2: The monthly reward of Fat Garage will be converted into Dogecoin.
Why choose $DOGE? Is it due to the promotion of Musk? Or it has survived the 14th market value in the world after several years of development. Or it is the originator of crypto meme? Or simply because it’s cute, harmless, and cheap?
Joy, kindness, learning, giving, empathy, jokes, fun, happiness, inspiration, creativity, etc., may be the representative for reward, the spirit of entertainment, the power of charity, a kind of fearlessness, inaction, and carefree. We wish to see how this “decentralized power” will look like.
Are Bitcoin and Dogecoin undervalued? The decentralized asset currently has 3.2 million holding addresses, (don’t forget this is a joke).
The partners I collaborate with, or the readers of Fat Garage, have allowed me to see through these things.
Perhaps if we can set up a Dogecoin Fund (to exchange the rewarded funds for Dogecoin) and collect positive energy in each community; or perhaps we can give back to those in need at some point. If the community reflects these things, then there is the real value of Dogecoin.
Therefore, whether it is NGK token, Dogecoin, or any token in the future, a decentralized system will enable every new entry, whether it is ordinary people, big names, ordinary institutions, or large institutions, to begin on the same starting line. Token has the inherent power to fight wealth concentration, and it will be more valuable only if more people have it. You must know that NGK has long been committed to decentralization. The tokens (e.g. NGK, BGV, SPC, VAST) currently issued by NGK are highly decentralized. The NGK continues to optimize its consensus mechanisms and transaction processing through decentralized blockchain technology, increasing its speed, asset leverage, and scalability, so that investors and communities can make safe, effective, and accurate investment and asset management decisions. It aims to allocate and optimize digital asset management efficiency on a global scale, and promote global digital asset financial investment. The innovation and evolution of the industry has become a big data center for the full-dimensional index of the blockchain financial industry. Relying on the excellent DPOSS consensus mechanism, NGK will create unlimited value in the future blockchain finance and digital asset venture capital!
