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Video Courtesy of Law & Crime Network

With crypto going mainstream got here a flood of individuals of all varieties, which sadly contains an array of idiots and crooks… we’re not but positive one describes Keith Johnson, the person suing Elon Musk after shopping for Dogecoin ‘on the high’. 

First let’s ignore that EVERY market is struggling proper now – Amazon is down over 30% within the final 6 months, however 6 months in the past it was typically nonetheless a really helpful ‘purchase’ in line with monetary specialists with credentials way more related to investing than Elon’s.

Ask your self – how a lot analysis into crypto would somebody have to do earlier than they discovered it might be a ‘dangerous’ funding and extremely unstable? I’d wager inside the first 5 minutes of studying into the subject.

We have reached out to Law agency representing Mr. Johnson on this lawsuit, and requested them or their shopper to touch upon the next elements:

The criticism establishes the odd timeline themselves by writing within the criticism that “Defendants were aware since 2019 that Dogecoin had no value yet promoted Dogecoin to profit from its trading”.  Specifically April 2019 is when Elon first talked about Dogecoin on Twitter.

The downside is – Dogecoin was price $0.002 when Elon first Tweeted about it April 2019, and a complete yr later by April 2020 it had solely gained slightly over 25%  – so it was nonetheless very cheap at simply $0.0026.

So lets go together with the concept that your shopper actually believes in following Elon Musk, or wealthy individuals on the whole.  But does he actually? Because he might have waited almost 2 years to purchase dogecoin, and get it for simply 1 cent firstly of 2021.

In different phrases, you might have first discovered of Dogecoin from Elon in 2019, then spend the following 19 months seeing him often point out it, and eventually after 20 months of deliberating – resolve to purchase some Dogecoin… and you’ll HAVE A 500% RETURN ON INVESTMENT (1 cent on Jan 1st 2021 to five cents right this moment).

Even those that waited a full yr after Elon started mentioning it will have $28,000 for each $1000 invested (from 0.002 to 0.0587 on the time of penning this)

Also, we all know of no transaction on the publicly out there blockchain that stands out as a billionaire ditching their cash, all of sudden or over time.  But that does not imply it will be not possible to do ‘below the radar’ both. So for the sake of argument for instance Elon can show he purchased Dogecoin however by no means offered any.  That would imply you are trying to sue the primary ever pyramid scheme mastermind who forgot the principle a part of the rip-off – to revenue.