With a coin collapse circle: V God slaughters animals, Musk stops accepting bitcoin

When you opened this article, you certainly did not think that the magic zoo coin craze ended in this way. You also should not have thought that BTC would plunge 10% because of a word. The early morning of May 13, Beijing time, will certainly become the most tender but also the most dramatic night of the bull market of cryptocurrency market.

In the early hours of May 13, Ethereum founder Vitalik Buterin (also known as V God) distributed the Shiba coin from his wallet to several charitable foundations. The foundation sold the coins in batches and then donated billions of dollars to the affected India. Accounted for half of the total circulation of SHIB currency short time to sell, bring the smash effect let a few days ago still happy to play animal money, even V god is who do not know the new leeks retail people instantly covered, SHIB currency in a very short time price halved once plunged 50%.

However, not long after the charity was completed, there was something that caused even more emotional turmoil in the cryptocurrency community: Tesla founder Elon Musk announced that the company would withdraw support for bitcoin payments, and that the previously opened way to buy bitcoin would be cancelled. The incident hit the cryptocurrency market again, with bitcoin plunging 10% and $230bn wiped off the market.

Musk and V God, are the absolute core of the current global cryptocurrency market, is also the absolute KOL. The two big KOLs issued their attitudes at the same time in the early hours of this morning, and caused the market to move, marking their position. They can take everyone off, nature can also let the leek hard landing without warning.

Ethereum Founder's Philanthropy Crashes

In the early morning of May 13, according to the FTX market data, Shib's price which had skyrocket several times before turned into a rapid decline. Meanwhile, there was also a change in the data on Shib's chain. The wallet address marked as the founder of Ethereum V god withdrew the liquidity of Shib/Weth from Uniswap. Shib coins will be sold after half an hour.

You should know that V God's wallet has 50% of Shib's circulation, which is directly airdropped to V God by the authorities. In the days when Shib was soaring, the value of Shib in V. God's wallet peaked at nearly $200 billion.

At 1:49 a.m., V God began to sell shibs for the first time, selling 22 billion shibs for $420,000 worth of WETH.

In addition to Shib, V also sold Husky, Dogelon, and Akita.

Shib prices are down about 38 per cent since the sell-off began, but still have a market capitalisation of about $19bn, according to FTX data. From its peak, however, Shibs have lost 60 per cent of their value.

Market sentiment was brought to collapse, the animals in the zoo currency have been "slaughtered", a time of public opinion, people on social media discussion, "V God does not like cats and dogs meme currency", "V God hates worthless things hate hype"......

The price of these "animal coins" has also plummeted, with the Shib dropping as low as $0.0000153 at the time of writing. The current offer is $0.00000895, a drop of more than 30% in 24 hours. The drop of Dogelon Mars is even more dramatic, a drop of more than 70%, and the price of a single Elon is only $0.00000061.

Investors are clearly stupid.

Some young chives who just entered this year are asking, who is this V god, why he has half of SHIB in his wallet, is not a big banker, why everyone is talking about him.

Hours later, the zoo massacre came to light.

The proceeds from the sale of Shib coins will be donated to the New Coron Relief Foundation of India.

According to the data on the chain, Vishen, who previously held 50 per cent of Shib, made a total of eight Shib token transfers in the early hours of the morning, the last of which was the largest, valued at about $1bn. The transfer was made to COVID Relief Foundation of India. As of press time, COVID Relief Foundation of India did not sell Shib.

At the same time, V God has also donated all the "animal coins" in its cryptocurrency wallet, such as Shib, Akita, and Elon, as well as part of the Ether (ETH), to various charities and non-profit organizations.

According to incomplete statistics, God V donated 50.6 trillion Shib tokens (worth over $1 billion) and 500 Ether (ETH) to the recently launched Coronavirus Relief Foundation of India by Polygon founder Sandeep Nailwal. Donated $440 million worth of Akita tokens (about 49 trillion) to Gitcoin, the Ethereum open source platform.

Meanwhile, the Methuselah Foundation wallet, a medical charity dedicated to extending human life, received 430 billion Elon tokens (worth about $215,000) and 1,000 Ether coins (ETHH) from God V, The Machine Intelligence Research Institute, which focuses on ensuring AI has a positive impact, was given 1,050 pieces of Ethereum, another charity, Givewell also received $53 million worth of Ethereum (ETH) from God V.

Polygon founder Sandeep, who runs the foundation that received the massive donation, tweeted, "Thanks to Buterin, we've learned about the importance of community from Ethereum and Buterin, so we're not going to do anything that hurts the community. In particular, the SHIB community, which is closely involved in this incident, will act with caution and responsibility. Please rest assured SHIB holders."

When the news of God V's philanthropy set off a social media frenzy, a tweet from Tesla founder and retail guru Elon Musk sent Northwest Shanxi into a frenzy.

Musk has announced that Tesla will stop paying for bitcoin

Elon Musk announced this morning that Tesla will stop accepting bitcoin for payments because of the huge amount of coal and other fossil fuels it consumes and the carbon emissions it generates. Although he also assured everyone that Tesla would not sell out, the cryptocurrency market immediately shook up, sending the price of Bitcoin tumbling by $5,000.

Of course, this isn't the first time Elon Musk has swayed the cryptocurrency market with a single tweet.

Looking back at the media coverage of Elon Musk in the crypto world since 2021, his every move has had a butterfly effect on the cryptocurrency market: he changed his Twitter profile and announced that Tesla would accept cryptocurrency payments. Every time Dogecoin is mentioned on Twitter, in an interview or on a TV show, it goes up and down; The price of bitcoin plunged after the announcement that Tesla would stop accepting bitcoin for payments.

A mixed review

Believe that V god such operation, many investors, especially the circle inside the old chives, in the morning when the surf is smiling.

For these a night at every dozens of hundreds of times the zoo coin, these let many people in the lottery but worthless MEME coin, the old leeks are already dissatisfied, the collapse of faith in the value of investment.

In their view, the cryptocurrency industry is no longer a game of drumming. There is decentralized finance, crypto art, and a lot of new ideas worth talking about, rather than these funny animal names.

At the same time as the zoo situation, Uniswap, the absolute leader in decentralized finance, has launched its latest version, adding a whole new market-making experience. But apparently, the absolute champions have been eclipsed by animal money.

New users who should have been attracted by Uniswap, but were taken away by the flow of Animal Currency, participate in the investment, and make money overnight, and then lose overnight, they may think that this is the coin circle, play is exciting.

That's not the case anymore. "God V has brought the cryptocurrency industry back to its roots." "One person commented.

Think about it another way, charity may be the best choice V God can find.

Projects like Shib choose to put 50% of the circulation into the address of V god, the purpose is to make V god platform. They were betting that God V, already rich and free, would not sell the money. If God V does not move, this 50% circulation is equivalent to destruction, which is beneficial to Shib. If God V sells, it will be criticized by everyone in the cryptocurrency community, which is also a kind of indirect propaganda for Shib.

The epidemic in India is getting worse and worse. Every day, hundreds of thousands of people are diagnosed and the whole world is worried. This is not a national problem, but a disaster that needs to be paid attention to by the whole world.

And the charity chosen by V God seems to be the only optimal solution.

Including Shib's official endorsement of God V's choice, they said on their official Twitter account, "God V's donation makes Shib more than just a MEME coin. Shib has a deeper meaning for humanity."

But what about Shib investors?

From the perspective of these Shib communities, God V has become a dragon again in their eyes.

They argue that the $1.2 billion worth of Shib in God V's wallet is propped up by their community without any credit from God V.

In other words, in their eyes, God is not donating their money, but their money. The bloody new chives do not know V God, insiders called him "the founder of the world's strongest public chain Ethereum", but in the eyes of the new chives, he is "no community consensus of the evil dragon".

Musk's side has also sparked a lot of community discussion. One person said that he didn't care about cryptocurrency or environmental issues at all, but just enjoyed the feeling of "responding to a hundred people".

It's true that Bitcoin's environmental problems have gotten a lot of attention recently, with Microsoft co-founder Bill Gates saying the currency pollutes the environment.

But in fact, Bitcoin has already begun the exploration of clean energy. In a recent article titled "How Much Energy Does Bitcoin Actually Consume?", Nic Carter, a leading crypto researcher and top crypto VC, writes: "Addresses misconceptions about bitcoin's excessive energy consumption and carbon emissions.

Nic Carter pointed out that research by CCAF (Cambridge University's Centre for Alternative Finance) showed that 73% of Bitcoin mining was powered by renewable energy in 2019, a figure that had dropped to 39% in September 2020, but was still more than twice the amount of renewable energy used in the US electricity grid.

At the same time, Bitcoin mining is tapping into resources that would otherwise be unused. The most obvious example is the hydroelectric generation in Sichuan and Yunnan provinces, where there is a lot more hydroelectric capacity than the region needs, and bitcoin mining is turning that surplus energy into wealth. Bitcoin is no longer just a toy that emits carbon dioxide without producing any value.

Reflection on the magic industry

The dynamism of the zoo market temporarily come to an end, experienced this round of short "zoo bull bear" all industry investors need to reflect.

One is to reflect on whether they underestimated the risks in the crypto market.Numerous "new chives" saw the rise of animal MEME coins this time, and were driven by the strong wealth effect to join the bubble hype, they are "new", so do not know what DYORR (do your own research) will only keep on FOMO.

The second is to reflect on why people are so easily manipulated by Meme to FOMO countless worthless air coins.When a celebrity with tens of millions of followers is recklessly promoting a worthless air coin on Twitter, why are few people questioning it and choosing to follow it blindly? This is not a replay of the story of retail investors taking over Wall Street. It's just a farce, and you and I are just clowns.

The third is to reflect on what I'm investing when I'm investing.Whether it's buying funds, stocks or cryptocurrencies, it's all a way to invest. So what are we investing for when we buy shibs? Is it because Musk is trumpeting Dogecoin and Shib's logo is a dog? Is it because Musk has mentioned the word SHIB on Twitter? Do you really see some value in the SHIB and think it's not a bubble?

When investing is driven by jokes, "investing" becomes "hype." We often say that today is an era of fickleness, where people read books and watch movies and even only read the commentary version of Douyin. How can we expect people to study a "Dogecoin" in an era when many people criticize the slow pace of the plot of "The Lord of the Rings" on business?

Calmness is all the more important when sentiment is clearly overheated.

We can not prevent tens of millions of fans big V's talk, but hope we do not do his men drift with the flow of the pawn. It is the mission of every investor in this era to invest the enthusiasm of hype bubble into those truly valuable projects, and make more valuable projects get more exposure, attention and better development.

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