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Many influencers have had threats made to them, whether through social media or face-to-face. One such influencer is Elon Musk. Who speaks openly about cryptocurrency via social media and makes appearances on talk shows. He is very influential, affecting his followers and people at large. He has greatly influenced the crypto industry. He is also an influencer who has had threats made against him.
While many have opinions about influencers, sometimes these opinions morph into open threats. All influencers risk attracting adverse reactions, whether social media influencers, crypto influencers, or just enthusiasts. Just like many politicians, influencers get threatened. Elon Musk is not excluded from these threats.
The Anonymous' Threat
There has been much argument about the jurisdiction of influencers in the crypto market. As of yet, there are no specified rights or wrongs for them to follow. Notwithstanding, the Securities and Exchange Commission (SEC) has enacted regulations that ensure that the influencers understand the consequences of their actions and hopefully avoid committing questionable acts. Influencers should remember that with great power comes great responsibility. Unlike most people who just share their opinion, Anonymous took it further.
On June 5th, Anonymous, a hacktivist organization, uploaded a threatening message for Elon Musk. Anonymous expressed its utmost displeasure in Elon Musk’s manipulation of the cryptocurrency market, and they claimed that what he was doing was haphazard, selfish, and desperate for attention. They also said that his egotistical behavior destroyed lives by causing people to suffer. They blamed Musk’s ‘public temper tantrums’ for people losing their money and dreams. Anonymous threatened to “take him down” if he continued.
Taking someone down may mean a plethora of things. Elon Musk’s case, though, would most likely involve hacking him or his companies since Anonymous is a group of hackers. While it may be possible to hack him (i.e., his companies like Tesla, etc.), it is not probable. No one knows the extent or effectiveness of his companies’ cyber security. Many companies have little or no cyber security. When threats, like the one on Musk, are made, experts recommend double-checking and testing company safeguards. Those involved in a company’s cyber security should be concerned whenever a threat is made.
Elon Musk and The Crypto market
Should Elon Musk stay quiet and keep his thoughts to himself when on social media or any public platform in general? Or, should he say, “Bring it on!” and ignore the threats made by Anonymous? Many people would advise him to quit talking and posting about crypto and the financial industry as a whole. Another perspective is that Elon Musk and other people like him are needed to push boundaries and to produce innovative ideas. They need and should be able to share their thoughts and ideas.
Initially, many thought that Elon Musk’s, like many influencers, actions were selfish and self-serving. He appeared to be promoting some coins while disliking others to influence the market in his favor. He was lining his pockets by using his power and platforms. Later, he revealed that he stopped supporting Bitcoin because of its environmental impact and switched to Dogecoin instead. This increased attention upped the purchase of Dogecoin.
Musk’s environmental concerns are valid. Cryptocurrency significantly increases energy consumption. The mining of cryptocurrency generates a sizable amount of electronic waste because the hardware quickly becomes obsolete. For example, the Application-Specific Integrated Circuits are specialized mining hardware used for cryptocurrencies. Compared to basic computer hardware, which can be reused, these circuits have no other use.
The mining of Bitcoin generates tons of e-waste every year, primarily because it pressures miners to use only up-to-date and the most efficient computer chips, and they discard the older ones. It generates up to 26 kilotons of electronic waste annually, comparable to the Netherlands’ small tech equipment waste. The waste produced by digital currency has sparked passionate debates concerning its sustainability. Dogecoin is one of the cryptocurrencies with less eco-destructive properties. Compared to other digital currencies, it is environmentally friendly and produces less e-waste.
In Conclusion
Elon Musk’s initial statements about digital currency make more sense given the information available. He provided a valid reason for his support of Dogecoin or, as he calls it, ‘people’s crypto.’ Before commenting or making threats (which shouldn’t be occurring) to influencers, their followers should obtain all the facts.
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