Tom Thinks There are Stabilizing Factors as well as Manipulation
Transcript:
Easan Arulanantham:
So, you say it’s like an unregulated industry right now, kind of. And in a sense, do you believe like Celebes and big voices in the market can make major shifts in the market. So like Elan musk on Saturday live or the Tesla no longer accepting Bitcoin, you know, how can this affect like the long term nature of cryptocurrency?
Tom Vaughan:
Well, I suspect that once they get tighter regulations, it’ll make it a lot harder for these people to say some of the things that they’re saying. Because I don’t really like that personally, where somebody can say something that is, you know, impacting the market directly, and you don’t really know why they’re saying it, or what they have to benefit from it. And so if you look at kind of what is under the SEC right now, that’s a lot more difficult.
Matter of fact, Elon Musk even got in trouble with for some of his tweets about Tesla. And again, there are certain things that you just can’t do, because it manipulates the price. Right now it’s kind of the Wild West in the cryptocurrency so I do suspect Matter of fact, I’ve read a lot of articles that they’re looking at the the regulation side of cryptocurrency, so I think that’ll make it a bit more, you know, stable, and maybe those situations with the celebrities will happen less. But yeah, right now, it’s just Yeah, it’s definitely a big piece of the puzzle. I mean, what was it just yesterday a lot most talked about Dogecoin and then went up. 30%. So, you know, that’s you have a lot of Dogecoin you know, I mean, there’s there’s something he’s making money on, and he makes comments one way or another. I doubt it, he seems okay. But that’s the problem with with those scenarios, is just the fact that there’s a potential for manipulation that shouldn’t be there. In my opinion.