Video: Elon Musk Explains What Is Dogecoin At SNL – The Cryptocurrency Falls Over 20% Immediately

Red State Nation ^ | 05.09.2021 | Alex Hall

[USA Conservative]

Elon Musk took the Studio 8H stage over the weekend for his Saturday Night Live hosting debut and, as many expected, there was a lot of cryptocurrency talk.

The controversial tech mogul had fans and critics debating the choice to tap him as a host in the lead-up to Saturday’s episode. However, one of the biggest questions was whether or not he’d mention Dogecoin, the satirical cryptocurrency that has skyrocketed in the wake of his repeated online endorsements.

As it turns out, Dogecoin — and cryptocurrency in general — actually played a prominent role in the episode. Apart from a mention in his monologue, Musk appeared as a guest on Weekend Update to talk about Dogecoin’s popularity.

Musk appeared as the show’s financial expert, Lloyd Ostertag, and was asked to explain exactly what Dogecoin is.

“Thank you Michael, call me The Dogefather,” said Musk to Michael Che.

“It (Dogecoin) started as a joke based on an Internet meme but now it has taken off in a very real way,” explained Musk.

Che then repeatedly asked Musk what it actually was, even taking a one dollar bill out of his pocket and waving it at Musk, asking him if the cryptocurrency was even real.

“Its about as real as that dollar,” said Musk.

Colin Jost got in on the action, also asking what Dogecoin actually was.

“It is the future of currency, it is an unstoppable financial vehicle that is going to take over the world,” said Musk.

And when he explained that crypto can be traded for cash, Che said, “Oh it’s a hustle.”

“Yeah it’s a hustle,” said a laughing Musk as he shouted the Dogecoin phrase of “to the moon.”

Video below:

“It (Dogecoin) started as a joke based on an Internet meme but now it has taken off in a very real way,” explained Musk.

Che then repeatedly asked Musk what it actually was, even taking a one dollar bill out of his pocket and waving it at Musk, asking him if the cryptocurrency was even real.

“Its about as real as that dollar,” said Musk.

Colin Jost got in on the action, also asking what Dogecoin actually was.

“It is the future of currency, it is an unstoppable financial vehicle that is going to take over the world,” said Musk.

And when he explained that crypto can be traded for cash, Che said, “Oh it’s a hustle.”

“Yeah it’s a hustle,” said a laughing Musk as he shouted the Dogecoin phrase of “to the moon.”

Video below:

Twitter Link

While Dogecoin played a surprisingly big part on Saturday’s show, fans had mixed reactions to Musk’s hosting, and the debate about Dogecoin’s legitimacy. The value of Dogecoin dropped steeply before the episode kicked off, and many fans seemed to be watching the show and their crypto-accounts with tense interest.

Dogecoin prices immediately plummeted and fall over 20%.

Twitter Link

The question remains was this show promoted to kill the rise of Dogecoin?

Scroll down and leave your comment below.

[USA Conservative]

Good question by the writer of this article:

The question remains was this show promoted to kill the rise of Dogecoin?

My answer is definitely yes after watching this! They let Elon promote crypto but made sure he called it a "hustle" at the end. The US dollar is a hustle, but simpletons like SNL cast members can't grasp the concept.

[babble-on]

This is the funniest thing that’s happened on SNL in a long, long time.

[allendale]

Gold is gold, silver is silver and the US dollar has the full backing and credit of the US government ( for whatever that is worth these days) behind it. What is cryptocurrency? It is an electronic conception that sits in an unknown, unregulated server. What is its economic foundation? Any wonder that Musk failed to answer that fundamental question? After all Musk has made a real fortune promoting vehicles that really cannot go all that far and in the final analysis are enviormental catastophres. He has also established a company that makes space rockets and believes it is his destiny to take a one way trip to Mars.Each of these ventures have had some real achievments and have attracted wild enthusiasm and investment from a sector of the population. Why is it then not suprising that he can without a clear , rational explanation enthuse many to invest in a product such as cryptocurrency which they have not a clue of its real economic function or worth. Elon Musk is truly a great man.

[BiglyCommentary]

The cuurent batch of Cryto currencies are all a SCAM. “Oh yea?!! Well I bought 10,000 bozo coins for a penny and now they are worth $25 dollars each”. SO? What does that have to do with it being a SCAM? Every day one can read how someone made a huge boatload of money in some SCAM.

[BiglyCommentary]

Within the next 2 years, all the current amateur crypto coins will be worth zero next to zero due to government actions.

[PGalt]

Elon BADDAZZ : )

[PGalt]

https://freerepublic.com/focus/f-news/3957563/posts

[Billie Bud]

On to the car thing....it’s an emotional purchase to ge tone of his vehicles. It’s a “stamp” of virtue to “help” the environment and so empowering while in actually, the product creates more toxic waste and delete irreplaceable natural resources faster than any gas powered vehicle ever could .

I’m not sure what his angle is other than power and wealth.

The fact that he appeared on such a woke “comedy” show while ongoing launches of his satellites are occurring raises more questions than it answers.

No matter who you are, if you’re going to be launching satellites and using earth space, you need lots of higher ups on your side and people in high places assisting your efforts.

Would the Dems love for us to have zero gas vehicles so we can’t travel at will or grow our own food or be accomplished producers? Yes. For all the hype about his vehicles and the projected increase in their production, their failure is in the ease and their ability to be powerful enough to be used in building and agriculture. I see huge problems on the horizon in that area.

The satellites are another matter. Will he have no competition? Or will other countries issue their own low flying satellites traveling over our skies?

[Flick Lives]

Future readers will be perplexed by a history of the early 21st Century.

They will wonder if perhaps some sort of mass psychosis had taken over the population.

It was an age were everyone walked about with a paper mask over their face thinking it would protect them from viruses smaller than the wavelength of light. It was an age where people bet their savings on an electronic currency with no physical presence, created as a joke meme, with a cute looking dog as its logo.

[C210N]

all the current amateur crypto coins will be worth zero...

Agreed on coins... but: crypto tokens will retain value, *IF* backed by precious metals. BTC and dogecoin going to zero fer sure.

I don't own any, and wouldn't buy any - for the simple reason that the perfect wealth-retaining "money" is available for purchase right now: Physical Silver (not paper, silver in physical possession ONLY). However, seeing lots of discussion of the various cryptos. I also understand that purchasing crypto's like dogecoin, token too, looks very complicated, dealing with various "wallets" and needing to perform various conversions, depending on rules and compatibility.

With the transition to QFS/NESARA/GESARA, fiat disappears, and metal-backed new currency takes over. This kills the FED and fractional-reserve central bankstering.

Crypto post-transiton will be a thing, for sure, but must be as compliant with regulation (ie, metal-backed) as the currency.

Buy Silver! Go look at usdebtclock.com, and the dollar to silver ratio - it is now around $4800/oz. Then, go to a silver dealer - it is now around $28/oz.

[null and void]

[T]he US dollar has the full backing and credit of the US government (for whatever that is worth these days) behind it.

There is precedent:

"Not worth a Continental"

During the American Revolution, the Continental Congress issued a form of currency known as the "Continental" that proved worthless due to rapid depreciation.

In other words, Congress printed so many un-backed Continentals that they became worth almost nothing.

Watch for stage two of the tried-and-true Stagflation formula. it will look like this:

The Continental Congress and the state governments tried every coercive means available to prevent the persistent trend of rising prices.

It will be the easiest thing to find on your empty store shelves very soon!

[null and void]

Within the next 2 years, all the current amateur crypto coins will be worth zero next to zero due to government actions.

So will the dollar.

[null and void]

They will wonder if perhaps some sort of mass psychosis had taken over the population.

I don't wonder. I am certain it has.

[golux]

I have no idea why anyone would invest in any stock or “currency” that had absolutely no fundamentals.

Although there might be short term gains, it is ultimately a losing bet.

Buy the panic, stay away from sexy investment vehicles, and HOLD.

[Treeless Branch]

I guessed that would be the case too since Musk was the one who originally promoted that coin. Could even be part of a settlement/agreement with him and a certain federal agency or two. Deep state propaganda outlet and anti-American SNL would be more than happy to play along.

[null and void]

Add “In God We Trust”, $2, $200, $500, and $1000 notes, and now you’re talking!

While we’re at it, make the coinage 1¢, 2¢, 5¢, 10¢ 20¢, 50¢, $1, $2, $5, $10, $20 and $50.

Replace images of actual people with allegorical figures, Lady Liberty, Lady Justice, and Everyman figures of producers; construction workers, farmers, miners, police, fire, military, etc...

A feller can dream....

[C210N]

Actually, looking at the upcoming new currency notes, key element is the removal of Hamilton - the man perhaps most responsible for putting the United States on the path to fractional reserve central banking... and borrowing.

Just as key is the addition of JFK, the man responsible for putting the United States on the path to tearing the CIA into a thousand pieces and attempting to stop fractional reserve central banking.

[Tamatoa]

Crypto currencies is futuristic way of buying and selling.

[SunkenCiv]

Musk is more fun than Saturday Night Vile has been in decades or ever will be again, and is smarter than the entire SNL team put together.

[Mr. Jeeves]

Ronald Reagan belongs on the $20.