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BLOOMBERG NOW STEALING CRYPTO STORIES FROM TRAD NEWS, LOL

Bloomberg going through our disgusting 
trash to steal our spicy Doge Coin takes

It looks like finance and business site Bloomberg has been going through our trash looking for stories for their site. Way back in January we ran this story: IS DOGE COIN A "GAY OPS" ATTACK ON BITCOIN? Which came to the following prescient conclusion:

The obvious conclusion is that Doge Coin is being ginned up by the financial establishment as a means of crashing BitCoin or at least creating "interference" for it. Yes, this stinks of Gay Ops to me.

We also pointed out that Elon Musk was part of the financial establishment and was not to be trusted. 

Now, more than two weeks later, Bloomberg comes out with this story:


This, almost thought-for-thought, follows our earlier story, with Bloomberg echoing our view that Doge coin is just being pumped to make crypto -- and in particular -- Bitcoin look bad:

The deeper fear is that if Dogecoin ends up just another YOLO (You Only Live Once) pump-and-dump in the crypto timeline, it will reflect badly on all tokens — even Bitcoin, which has recently basked in the glow of being promoted on Wall Street as an alternative to gold.

Bitcoin’s ability to keep reeling in institutional investors depends on its pitch as a digital safe haven disrupting analog alternatives...

A crowd-driven rally in Dogecoin, if it lasts, spoils the Bitcoin purists’ story somewhat. Thrill-seeking Bitcoin believers will wonder whether they’re missing out on easier money if Doge is still alive and hitting record highs. Scratching the surface of its goofy image reveals a competitive economic narrative: While the canine token copies a lot of the original cryptocurrency’s features, it’s an expressly inflationary asset with a circulating supply of more than 100 billion. It’s faster to transact and easier to mine than Bitcoin. If Dogecoin’s price keeps popping, expect advocates to push stories offering a very different philosophy to drown out Bitcoin’s HODL (Hold On For Dear Life) hoarders.

And here's the key line:

The problem for Bitcoiners is that even a blowup of the Dogecoin trade would leave their own favorite cryptocurrency potentially tainted by association. 

Yes, then there is the muddying the waters effect Dogecoin has on crypto in general, confusing new investors.

Unlike with GameStop, there aren’t obvious fundamentals to explain why Dogecoin is overvalued while Bitcoin would be undervalued. Debates about which is “better” might draw on technological use-cases, security and adoption, but these don’t add up to dollar-and-cents estimates. Alexandre Stachtchenko, a board member of Paris-based blockchain association ADAN, tells me a Musk-driven boom-and-bust in Dogecoin would make it harder to promote more serious projects: “A neophyte will not be able to tell the difference.”

Yup it looks like Doge has done a big poop on BitCoin's pristine crypto lawn!


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