"Clueless Big Hypocrite"?!...
If you were wondering why Bitcoin has dipped recently, here's your answer, the Dogefaher, Elon Musk himself has changed his mind about selling Teslas for Bitcoin. I guess volatility is to be blamed in this equation, but the Silicon Valley mogul has a different narrative.
This narrative however has been challenged by influential people from the crypto space such as Pompliano and Michael Sailor who's probably guilty for influencing Elon in getting into Bitcoin from the first place. One thing is clear though, Elon doesn't fully understand Bitcoin from a technical perspective and the decision to sell Teslas for Bitcoin might have been a rushed one.
The announcement came out with the notification that they're not selling the already collected Bitcoin either. I guess they don't want to affect the environment by transacting Bitcoin :)) The company, nor Elon Musk, haven't disclosed yet how many EVs they have actually sold for Bitcoin. I bet not too many as moon boys are usually Lambo boys that like the noise.
See how I rhyme... The crypto community however is pissed of on Elon Musk, although they shouldn't as Elon has offered them the chance to buy cheaper Bitcoin before entering another parabolic run and some reactions to his move are quite acid.
Bad move Elon, the only crypto people that will still love you after this move will probably the DOGE fan boys who are definitely easily to manipulate and trick in getting into pumps and dumps. The Tesla guy has also had a poll today asking his followers whether they should accept DOGE instead of BTC.
DOGE is the currency of the internet after all... At least in his opinion. I haven't bothered to check the results as I don't plan on buying any Tesla any time soon and especially not with crypto, but it looks like it was all planned. Seems like DOGE was written in the scriptures...
After following Elon for quite a while on twitter I believe that he's gonna change his mind, as he previously did with other decisions, and BTC won't be removed as a payment option. He will probably add some more so called environmental friendly alternatives, but he will not ditch it. That's how I feel it. What comes after this announcement will be another big company accepting BTC as a payment.
This thing is inevitable, same as dips, dumps and corrections are also inevitable in a bull market. Such events show how immature, easily to manipulate and "panicable" are the crypto markets participants. One month from now this dip will be nothing but a pixel on a screen. Have a good day folks and see you to the next one.
Thanks for attention,
Adrian
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He is truly a hypocrite that is not actually practicing what he preaches via his engagement on the crypto market...
He could be...
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With all his involvement in various revolutionary fields, at a personal level I placed him a while ago at the level of JS. Expect from him as much as you expect from JS.
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Good point.
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Who is this JS you are referring to?
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Oh, we had quite a history with him on the old chain and he's the reason why we split into Hive: Justin Sun, from Tron.
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I respect his contribution to getting electric cars into the mainstream and making them cool, but other than that ... meh at best
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Yeah, I agree.
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:))
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for some reasons i thought you are talking about JavaScript, but strangely that sentence is still valid.
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Ha ha ha! I have a feeling though nobody really loves JS the human (except family maybe), but as you said there are true love-hate groups about JS the programming language.
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he is just a celebrity, nobody has got any reason to love him. you can like things he did but the person is a different thing
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That's the danger of having crypto 'messiah'. The time will come when Musk's (and all other influencers) usefulness on the blockchain will be outlived. Till then, we just have to put up with the instability their decisions cause.
The crypto market participants are too dumb...
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We're all varying levels of dumb on an ape-scale which isn't that inspiring. Not only are we dumb apes, we'e also pretty cruel and immoral and selfish. I think we might actually be living in the tribulation period people who read the Bible talk about. Judgement is coming for all of us. I'm not ready - are you?
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All I see is a sneaky investor who cashed out based on his influence. He will want to definitely get in again at this dip and maybe tweet Bitcoin in the following week.
Anyways I see this as an opportunity that every investor should grab. Bitcoin still remains the future if finances and transaction
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Sneaky or not, many are listening to him.
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I figured
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It sucks that Binance.US holds your fucking assets for 24 hours when you reset your password. I'm missing out on A LOT of shit.
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I didn't know that.
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Elon is a punk... F... him
Hypocrite for real.
You think...
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He's just juggling two different coins so that he can make the most profit from buying low and sell high.
He can pull this off because he's a celebrity. In celebrity economy, many people follow him.
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I believe his influence will gradually fade away once they realize what he does.
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I created a post about this.
I think looking at this from a positive angle might be beneficial to Hive.
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How's that?
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Go ahead and read my post- I don't want to jack this one with self advertising.
In short, Hive mines with abundant green energy. This is a marketing opportunity to push Hive into the light.
Yeah, no I seriously doubt he did ditch it. I wouldn't be surprised if he bought in at the dip on the contrary.
I've been having a hard time deciding whether Elon genuinely doesn't understand crypto, or if he's simply using his influence and playing the game for his own benefit/"testing" people. The frequent flip-flopping, which I, like you, also believe will happen with his decision on BTC, seems a little suspect when thinking about his intelligence. No, I'm not one of those morons who believes Musk is the most intelligent man on earth; but one thing is clear, he certainly is smart enough to use these things to his advantages. Furthermore his entire vibe is that of a narcissistic troll, and I could see this all just being "for fun".
I'm confident the crypto community isn't falling for anything a man who frequently manipulates the market, pumps alt coins, and flip-flops says.
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I'd say he's something in-between.
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Just wait for the big announcement when Elon and Tesla "solve" the energy problem with new tech for btc mining...🤔
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I bet they'll do that :))
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A classical "pump and dump", I suppose Elon privately bought lots of bitcoins before he instructed Tesla to pump up the value ... and then sold off what he had, before he instructed Tesla to pull out.
That might be true. Haven't imagined he's such a scum...
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While the energy cost of bitcoin is quite unrelated to the transaction volume, and some few handful of car-for-btc-transactions are anyway negligible - but the energy expenditure (and probably in particular the fossil part of it) is directly related to the value of BTC. Hence, going public with such a message may indeed reduce the emissions.
Nice article, I also think that this decline will be a pixel over time. But I also think Musk is a manipulator of the crypto market
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He's the devil :))
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Is this him wanting to buy some more then?
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I have no clue and honestly don't even care. He's just a clown in my eyes right now. Born rich, stays rich and plays with people in this space. Screw him...
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💥 Boom ! 💥
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Thanks for the BOOM.
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to quote NSYNC: "Buy Buy Buy"
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Yep...
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This could just be a means for him to influence a dip to enable him buy more bitcoins at low price, after a while he'll announce Tesla is now accepting Bitcoins as payment. The price will go up, hence more profit for him.
It's just one of those things with people who have certain influence to control the market in a way
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That might be the case.
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Why Elon Musk ! Why did you do that to us ? :D
We are okay to be betrayed by the US Gov or other corporations but not you.
Well, what does not kill you makes you stronger right?
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Indeed. Now we know what elon is made of...
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I was also shocked on his statement though I don't think the energy is the real reason.
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He's full of crap.
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Let's hope this leads to more altcoin adoption. BTC is unusable unless you are already rich. It's time for better coins like Dash, Hive, ADA to shine.
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He should have checked on that before adding btc as a payment option and before start talking crap.
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Yep. That's true. Elon probably did BTC as marketing and always meant to switch to more sustainably mined coins. Let's hope he gets to hear about Hive. We are so much better than BTC.
What a nasty guy this Musk, is more of a smoke peddler than an entrepreneur, but me being devil's advocate, if there are millions of people who see me as a cult leader then why not take advantage of that?
Tesla generates more money from stock market speculation than from the sale of its electric cars, which do not pollute but contain lithium and cobalt batteries whose extraction is not at all ecological and requires more fossil energy than Bitcoin. Will it stop selling cars?
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Good point here.
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Really.. You nailed it about his f***ing rockets burning thousands of gallons of fuel and the lithium batteries they use on the electric cars, hypocrite is an understatement.
I can't believe he tweets that stuff because he's clueless, I mean Tesla is still holding and bought a huge chunk of BTC a couple months ago right?
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It's stuff everybody knows about.
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I don't think he's clueless at all... more likely he profited with selling BTC high and getting it back at discount prices!
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Probably. The title was quoted.
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Fair point. 👍
I wonder if his BTC bashing tweet was a misdirection play to create a dip for strong hands to buy?
Or does he really feel that BTC consumes to much power?
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Elon socks and I am sure that he has made more woes than friends for himself starting from his latest moves. Thanks for this post.
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He is a completely clueless individual and the world follows him LOL! I run three ASIC miners on 100% Solar power, If I used grid power they would not be profitable.
Where is the electric produced that charges his electric cars... Fossil fuels ????
He needs to spend some of his money and do some research before he opens his mouth LOL.....
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True.
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