As Ethereum goes through some tough days, Elon Musk gives the project a nod. Through the Scam-bot fog which has been dogging the entrepreneur, he tweeted “At this point, I want ETH even if it is a scam” – something tells us his sense of humour was at work here…
Elon Musk, arguably the world’s most celebrated contemporary entrepreneur, yesterday gave a nod to the Ethereum project in a tongue-in-cheek tweet following an announcement by the Techmeme account, a tech-focused news aggregate, that 486 cryptocurrency scam accounts had been shut down by Twitter for engaging in “coordinated manipulation”.
Scam accounts on Twitter have become an increasing problem over recent months, with Twitter receiving significant criticism for not doing more to tackle the problem. Scammers often set up accounts which look nearly identical to those of leading figures in the cryptocurrency and tech field, before promising giveaways of cryptocurrency. All a would-be victim must do is send a small amount of cryptocurrency to the sender in order to receive a much larger amount in return. Needless to say, the reciprocation never materializes.
Elon Musk, holding Rockstar-esque celebrity status such as he does – I mean come on, this guy sent his old sports car on a journey to Mars, blasting David Bowie on repeat into infinity – has naturally had his name appropriated numerous times by scammers. One of the most recent scams offered a customized Tesla 3 (with free delivery!) to the first person to send 2 BTC or 20 ETH to the imposter Musk’s account. Bargain!
Musk has clearly become aware of this, but is taking a tongue-in-cheek view on things. After reacting to Techmeme’s post with, “Great actions by Twitter to delete bogus accounts. Will increase usage by real users” the Space X frontman engaged in some playful banter with another tweeter who sardonically asked whether Musk would be indeed be sending him the ETH promised in the scam, by responding to his request with, “It’s coming, I swear”.
At this point another user engaged him about BFR, Space X’s hush hush rocket programme, and Musk responded as follows:
At this point, I want ETH even if it is a scam
— Buff Mage (@elonmusk) August 28, 2018
Musk even went on to apparently shill a scam by posting a link in his next post – hopefully everyone got the sarcasm which sometimes gets lost in translation on social media (when is someone gonna drop that sarcasm font?!).
Whilst the significance of these posts is negligible, it hopefully will bring a lift to ETH holders to see their coin mentioned by a figure with such a huge influence on the global stage. Musk’s allusion that ETH may be a scam is likely a lazy misreading, the post rather referring to scams which offer ETH rather than the Ethereum project itself.
Ether has taken a battering in the recent bear market. From its December high of almost $1,500, it is now a fraction of that at $294 at the time of writing. The Ethereum project has seen a huge drop in usage since the December highs with minimal amounts of users accessing dapps on a daily basis. The project is perpetually embroiled in a spat between IOTA, which is also vying for the top spot among altcoins. Musk’s tweet at least shows the no. 2 cryptocurrency is still a topic of conversation and holds significant sway in the crypto space.
Image Source: “Flickr”
Alex has been putting words on paper since he was old enough to hold a pen; when he bought his first bitcoin in January 2017, those words discovered their place within crypto as well. He holds a master’s degree in international relations from Leiden University in the Netherlands, and his special expertise lies in European cryptocurrency regulation.