Bitcoin Forum

Honestly guys, this guy Elon is a bad joke. He acted like a 10 years old kid, buying BTC and then realizing these are not good for the environment, he is making fun of all planet and treats us like...

I've lost my last grams of respect for this guy, he will never be for me anything more than a bad joke, a manipulating narcissist.

There it is, enough, the news is Tesla will accept $ because they're environment friendly. I'd never buy a Tesla car in my life even if they will accept carrots as a form of payment (which are environment friendly of course).

So everyone is blaming Elon now. My question is what would you do if you were filthy rich like him and you knew that it's easy for you to manipulate the market? What would you do if you knew that one positive tweet from you will skyrocket the market and one negative tweet will crash the market? I think you would do the same.

The crypto market is full of noobs. They have no idea of crypto. They are not keen to learn and not able to visualize the big picture. If anyone is buying crypto because Elon tweeted positive about it then they are doing it wrong. They need to learn a lesson. I do not blame Elon because he is doing what's best for him and his company. You should be doing the same instead of listing someone else.

I don't get the reason though, I mean bitcoin uses the same electricity as any household or factories which means that bitcoin isn't the reason why there is high emissions, the real problem is the energy source, I have seen a few users say this and I do agree that it is true because if we still use fossil fuel and oil, it won't make a difference if the activity of bitcoin is reduced because we are still emitting pollutants.

It's either manipulation and playing us again, or he has a bad source about bitcoin effect on the environment. In any case, just let him do what he wants to do with his company, I don't think we can do anything about it. And moving forward, we should try to ignore the guy, he is spewing and becoming a toxic to crypto space in general. And maybe this is the reason, why there is a flash crash today, so it's a win win again for him as they can buy millions worth of bitcoin, reminds me of Jamie Dimon's FUD back then.

Elon musk knew about PoW Bitcoin mining and electricity cost before (or can he tell people that he did not know that bitcoin mining uses electricity), he just want to manipulate the market and likely find Doge to be the coin to use.

Either he is really stupid which I highly doubt, or he is just another rich guy who wants to suck more money from everyone else. This is a complete joke, how can he not know that a POW coin is bound to use electricity for mining. And he acts like if Tesla is completely environmentally friendly,

https://www.news18.com/news/auto/tesla-under-epa-investigation-for-failing-to-report-vehicle-coating-emissions-3702836.html

There are many articles and investigative writings on Tesla being the worst car. But Elon doesn't know this either I guess.

That guy's a genius. If he was truly concerned about the impact, he would do some research before deciding to buy or offer Bitcoin as a payment method, rather than making such statement long after going balls deep into it.

After all, these billionaires are simply filthy rich politicians. Who knows, he might shill SHIB next.

Every other person on the planet is on the Elon's a** now after seeing how he put everyones faith down. Right after the Elon's tweet regarding Tesla and payments, market has crashed dam crazy. Whether it's BTC, DOGE or any other coin, they are worst hit until now.

BUT,

Think about the bigger picture here:

First he asks the world whether you will like the #DOGE to be accepted as mode of payment for Tesla or not?
----After getting 76% YES's vote----
Second tweet came later stating that #BTC is not good way of paying for Tesla.

So..? It's clear isn't it? He want to divert the crowd towards #DOGE and raise it. Thats all.

People will adopt it, they will know this but slowly.

I refuse to believe the people living on this planet are so dumb to fall for this manipulator. It won't happen, Dogecoin will go down to under 1 cent where is its place. Too many woke up now and they finally see his real face. Not to mention he might be investigated by SEC considering Tesla owns BTC you never know.

When Elon accepted Bitcoin and earned his company revenue by selling Bitcoin in the first three months of 2021, we should have doubted his business policy. Elon, like other rich people, only made his profit from Bitcoin with Tesla. and after making a lot of money for himself and encouraging a lot of people to buy bitcoin, he suddenly remembers the environment and energy consumption?
It's all like a joke.

Plus he’s not stopping, he’s posting more FUD. I believe it won’t be the last thing that he’ll be tweeting FUD about Bitcoin. Is he manipulating the market? Scaring the other billionaires from buying? Bored? OR POSSESSED?

https://twitter.com/elonmusk/status/1392780304138473473

It is impossible that he never knew that before buying bitcoin. I think everyone is starting to understand what game he's up to. Before, we're all liking him because he likes bitcoin and invest in bitcoin with his company, Tesla.

Can you imagine after buying bitcoin worth $1.5B then he would share a sentiment such as negative as that? he can really influence the market but what if there's a likelihood that he's also one of those who sent the prices down due to his massive selling.

Apart from him, the other huge investors can't be scared by his words.

Okay I am not a very big fan of Elon musk but you know he has a company to take care of, accepting $ is only fundamental, not all the people in the world do have Bitcoins with them. Plus do you expect them to buy that to buy Tesla and not look for another company, another car. What if they don't know how ?

They are already launching a mission to the moon funded by dogecoin. I do think that would be cool indeed. People are buying it in huge amount and celebs are endlessly putting up stories about doge trying to move the price ofc. But if the guy fails to go through with this the people will hate him, most of them already blame him for the dump of BTC but we don't have any proof do we?

At the end of the day it's someone's personal choice to get involved with a particular thing or no and we cannot really expect all positive news for the bitcoins. Chill and move forward.

Elon musk now a Boaring viral face in cryptocurrencies market because a few days ago he tweeted bitcoin a good investment plafrorm but today he declare Bitcoin unfriendly due to high exessive cost of mining and fuel energizes. But what should we do on running situations?

That's why we don't need to rely on those guys when it comes to money investment opportunities. It doesn't mean that they are reliable at some point but we need to work on our own regarding our own success. Because whatever these guys promote, at the end of the day, they are the ones who will get the most of the profit. unlike we work on our own, we don't care about what they're deciding or what they want to do with their lives. Let's just continue supporting Bitcoin whatever it takes without them things will go right even if we are the only ones who gonna take the risk.

It's hilarious people actually think that he woke up one day and suddenly realized Bitcoin isn't environmentally friendly.

I find it hard to believe that is actually the case. Any investments by any firms should be scrutinized carefully to ensure that it aligns with their company's values and vision, much less something that costs a billion dollars. Electrical usage of Bitcoin isn't low, that is true. But that is the cost of securing billions of dollars in transaction volume and is something that benefits the society as a whole. If he really wanted to go green, he wouldn't have designed electric cars specifically but made electric buses and other things that provides even lower carbon footprint. He has long been spreading FUD about various stuff; denouncing COVID-19 so his Tesla factories can function, efficacy of PCR tests, and now this. I'll be surprise if someone didn't short Bitcoin prior to this announcement  ::).

No. Think about your moral compass. Elon Musk is obviously filthy rich but that doesn't give him the rights to crash the market at will and make the rest of the 99% lose what would be pocket change to him. Just because you're able to wield all the power, doesn't mean you should abuse it.

Most influential people are not market manipulators like Elon, so it is terribly wrong to say "I think you would do the same". Also this HURT Elon's company. The only reason he would do this to helping himself is if Tesla is loading on cheap Bitcoin right now. I doubt that is the case, though I'm sure other companies are, so the only reason Musk did this was just because he can't get enough of manipulating markets.

For those who are late to the scene, let me recall the timeline of the events:

8th February 2021: Elon Musk announces that Telsa will accept Bitcoin. Admits that BTC is better than fiat cash.
March 2021: Elon realizes that Bitcoin is a truly centralized cryptocurrency and can't be manipulated by anyone (including himself)
April 2021: Elon discovers that shitcoins such as Dogecoin can be manipulated with ease and makes a plan to promote them instead of Bitcoin
May 2021: Elon comes up with the excuse that Bitcoin is not environmentally friendly and asks his followers to use shitcoins instead

I have been a Bitcoin user for 9 years and I have seen this sort of manipulation before. I had a lot of respect for Elon. But now I feel indifference towards him. He is no different from the other billionaires.

That's the other thing too, I find it strange that there was a poll about DOGE being used for payments for a Tesla and then the next day Bitcoin as a payment alternative got suspended, pretty fishy if you ask me. Better hodl bot DOGE and bitcoin because one way or the other, these two coins are going to pump.

I believe Elon has recently dropped the plan of accepting bitcoin as a payment method for Tesla.

https://www.nbcnews.com/tech/tech-news/elon-musk-backtracks-says-tesla-wont-accept-bitcoin-rcna918

Whatever Elon is doing is to create marketing gimmicks for his own brands and also the amounts of bitcoins Tesla is holding as a cash equivalents.

Another victim is late Dogecoin investors who had purchased at the level of 50 cents. I am sure Elon has invested millions into Dogecoin and  ow trying to get personal profit.

Yeah he should be concerned about his actions, whilst Bitcoin is not regulated as such, TESLA is and it's likely the SEC will be looking at the fact they sold earlier in the year and now his tweet tanked the market. If any worker/related party shorted it, they may be investigated.

During last hype it was JohnMcAfee acting as main crypto world entertainer. This time it's Elon Musk. I wonder who's going to be next one LOL

"mining operation carbon footprint", what a pile of BS

Yeah but look where John McAffee is now. Isn't Musk afraid he might end the same? Why isn't he behaving like a mature guy, 45 or how many years he has and not like a 10 years old kid. Just because he happens to be a billionaire?

Maybe that is his strategy by making a noise in the crypto world and then after making a lot of money, he said like that.
That is why we do not have to follow what he said before searching for the truth or the other news.
But if that is for making money, maybe we can follow him but we should know when we need to leave the market not to regret it later.
Tesla can accept anything they want because Tesla is a big company that can decide whatever they want.
But they can not do anything forever because the market will know how the situations and conditions.
I think Elon make a mistake this time because he plays with fire.

hold on, you're telling me the guy who's manipulating the bitcoin market, a market worth almost 1trillion american usd, as well as altcoin market all by himself has the iq of a 10yo?? damn! are kids really that smart nowadays??  ;D

jokes aside, i find it hard to believe Elon didn't know about btc and its btc environment, looks to me like he wanted to see how much he could manipulate btc and succeeded. He got what he wanted, bought cheap coins, got a bunch of ppl jumping on the btc bandwagon to pump the price, and now he found an exit point to dump part of his stash

been in the btc space for 6 years now and i haven't seen this type of manipulation before, at least not at this scale and definitely not by a single person

wasn't McAffee getting paid to shill shitcoins and scamcoins? bit different, no?

Because that's the image he created, an eccentric billionaire. Don't be fooled by this image, Elon is in this for money. Not to save you, me, the planet or whatever else there is to save. Money. And currently he makes heaps of it.

Tesla should not have accepted Bitcoin as payment with their hardline argument about their mission to protect the environment from the very beginning. The fact that they accepted Bitcoin in February and stopped accepting Bitcoin in May sent the crypto market reeling. That action I consider to be manipulating the exchange rate and disturbing the market.

Lol you think he didn't know about proof of work and all those negative "environmental" effects bitcoin and mining was having? You think he didn't do any research or learn about it? Obviously he did. He knew this, but Tesla (and him) still bought bitcoins when the price was low. When the price went up, as far as I know they sold some and made huge profit. And now they are claiming bitcoin is bad for environment? Either Musk is trying to drop the price, or he was forced to make this statement. Who knows..


Just because you might do something like this, doesn't mean everyone is going to be doing the same.

Elon Musk is a businessman, to him everything he did with bitcoin, all the publicity, and all the noise he made is a form of business. sure we could say that he is a "manipulating narcissist", but, to be honest, the problem I see here is that a lot of people are easily swayed by well-known people and follow what that certain person does. but in the end, all he did was buy and talk about bitcoin and cryptocurrency.

Not on this scale. OK.. I can agree with you on this. But in the past we have seen several celebrities trying to manipulate the cryptocurrency market, with varying success. Don't forget Craig Wright trying to manipulate the market with his BSV shitcoin (he triggered pump-and-dump cycles multiple times with that coin). After a while, I thought that Bitcoin has reached a stage where manipulation is not possible. But I was wrong and Elon just demonstrated how easy it is to still manipulate the market.

The dollar is created by the Fed and it's just paper money or numbers that show up on a bank account. It looks clean and protects the environment because fewer emissions are generated during the manufacturing process.
Accepting the dollar also means that Tesla is bringing the dollar back to America. That's good for the country and their business.

I'd probably think if it's legal. McAfee was imprisoned over crypto pumping but they got him on taxes so it's not exactly the same.
As far as I know it's illegal to manipulate the market like he did.

He bought BTC, tweeted about it, price rose, he sold, tweeted that he doesn't like it anymore, price dropped.
He's probably going to buy some other coin now, maybe more dogecoin and do the same thing all over again.


This I have to agree with. If you bought bitcoin because of Elon don't complain that you lost money because of him. He's not your friend, you are fish to him.

Cryptocurrency market is not regulated like stocks so I doubt he'll be indicted for tweeting about what Tesla did. The company bought BTC and we found out about that when they filed a report. The company also announced accepting BTC as a payment method. Lastly, they decided to suspend it and willing to resume after bla bla bla.

Those who got caught by the dump may feel cheated but it's also their fault for speculating and buying from someone's tweet.

Rejecting bitcoin to favor dogecoin is cynical at best, ignorant at worst.

Guess what, electric cars consume electricity too... Its the same argument against electric cars, saying that because of them there will be more pollution from coal power, ignoring the fact that there are other methods of producing electricity and that there is a market out there self regulating things.

But whatever he makes says or don't, Bitcoin isn't going anywhere. Its his loss to reject a source of income due to ignorance or worse...

They just said that they stop accepting it as payment until miners move to renewable energy sources. Who buys a Tesla with bitcoin?  It's a store of value. Buy the dip.

I don't think he didn't know that Bitcoin mining was not environment-friendly. This is Elon Musk we are talking about.  ;D  There is no way for him not to realize it before making a $1.5b investment. So, I think that the aim was manipulating the market.

Lol good one ,if he wants to come out clean and act all innocent why not return all profits he has gained from either bitcoin or dogecoin because his really painting a bad picture for crypto!!

Besides the crypto market has all sorts of coins which don't require the kind of mining/energy generation btc uses...that just made me realize a new coin will be shilled by ELon soon, be on the lookout.


Too manipulative!

and how about the batteries that are being produced for Tesla cars and its damage to the environment? The reasoning for not accepting bitcoin anymore is like a joke.

cant imagine if how many sacks of carrots it will take to pay a car of tesla if they will accept carrots as payment .

they accept dollars but thats not new because all business and companies accepts dollars as well tho i cant say that dollar is environment friendly because they cut trees for the paper form of dollar . me too op i will never buy a tesla whether they accept cryptos or not because i will never afford it it my lifetime .

Guess celebrity will always be celebrity. Still like a normal person you can come across everyday.
Agreed that it is people's reaction that affected the market. They let someone else get into their heads and decided to do the same as the said person. While we can't blame people because anyone would have that hidden dream to be as rich as Musk, but they're being driven that easily.

^ Like what? I don’t really think that he is being reasonable at this point. Is he insulting the intelligence of the people around him? He is getting too far bud. Honestly, money was the main source of pollution. From the sourcing stage (the stage where they had to take down trees and cut them so they can produce a paper to print ), from the chemicals being used for the colors, from the machines they use to run the printer, and lastly, the things being financed by the money. Nevertheless, these are all polluting things money has given to us, so I don’t think BTC has to be demonized here.

wake up he just did it so he can buy cheaper bitcoin now...

I smell this one, sounds like manipulating the market.

When I checked the tweet, I saw a lot of comments and one of those comments hit my interest and I laughed at it really hard.
The person said, “ Then why do you use fiat that is being backed by the highest polluting industry, military “.

I think the time when Elon Musk is able to read that comment, he would be burned by it. And the person has a point. I don’t think Elon musk's tweet has a point. It was a non-sense. It’s like a hypocrisy overload and I find it like that.

Elon Musk speaking about pollution, but still being involved with the industries that ruin our planet. What a comedian.

That's what we get in return when we hand over power to those that aren't matured enough to handle such power. Everything started going south when he got awarded the richest man. The attention are just too much for him and I believe they're pressure from everyone especially the government on him. One way or the other they will have something to hold against him and use him as they want.

All these fud are calculated strategically, have we wondered, why is all this happening now after his recent appearance on SNL that one who had thought since he was seen as a enthusiast, the market should react positively as more and more individual are getting to know about the technology but that's not the case.

Just like John McAffee, Elon storyline will end with him been the target of government officials, already could be found guilty of manipulating the market especially that of dogecoin.

I'm sort of torn between your attitude and not wanting to let my emotions with crypto influence my opinions of someone I highly admired.  Sure, Elon is either playing games, a hypocrite, or doesn't know what the fuck he's talking about.  I'd like to think he's playing games and causing volatility because he enjoys it, because I don't think he's a hypocrite sellout for money, and I don't want to believe he's clueless.  I only hope this is some sort of setup and he tweets that he's had his eyes opened to the positive force cryptocurrencies have on alternative energy and decided to buy more Bitcoin while the price was cheap.  Sure this would be controversial and land him in some investigations for manipulating public markets, but he seems to enjoy the controversy so I wouldn't put it past him. 

it's a sad fact, but until we have nuclear/green power world wide, crypto mining usage is bad for the environment. pow, its greatest strength is its greatest flaw. you guys should have seen the writing on the wall a long time ago that this was inevitable. I still love bitcoin but it is what it is. the good news is, bitcoin is far from done.

Elon Musk made negative news after Tesla took profit when Bitcoin price was at its peak. This is very visible Elon Musk wants the price of Bitcoin to fall,
then Tesla can buy more Bitcoin at a low price. And proven successful, now the Bitcoin price has fallen to a price below $ 50k. I'm not surprised Elon Musk
did that, because he is indeed an businessman who is always looking for profit by doing various kinds of marketing strategies.

The company has a CEO who is held responsible.

Musk bought BTC and Doge privately as well and used the company to pump his private investments.

My bet is he's going to keep doing it with other coins. First he buys something else like Cardano, tweets about it o pump it and sells with a profit, then he decides he's going to build a new Tesla power plant to mine Bitcoin so that it's eco friendly again.

The only funny part in all this is Tesla's stock has been dropping like a rock for the last few weeks. Maybe the board spanked him for touching crypto? :D

I am of the opinion that elon musk is extremely silly. First it was surprising to me that he gave so much support to bitcoin and bought bitcoin and suddenly he thought that bitcoin was harmful to the environment. If so, how did he not notice this before? did that come to mind overnight. I feel like something is happening that we don't know. This behavior affected the cryptocurrency market considerably.

Obviously he is not reasonable at all. Clearly he is manipulating to make his bag heavier. But I do blame him for doing that. It's human nature to make gain, to take opportunity. I blame those who are buying when he is making a positive tweet  and selling when the market is crushing. People need to learn and use their own judgement, do their own due diligence before making any investment. Do not respond to a hype.

Bitcoin actually saves the electricty/energy companies from wasting energy/electricity, and it only uses 120 TWh every year from the 160,000 TWh generated, which 50,000 is wasted every year.

Electricity/energy wasted is electricity/energy NOT USED. Because the large amounts of electricity generated can’t simply be stored. We don’t have the technology to store large amounts of energy.

https://twitter.com/BTC_Archive/status/1391747174950752260

Well that is how Elon Musk can do in the market, being Elon Musk, as one of the richest man in the world, he can really manipulate and persuade a lot of beginners in the world of crypto, so they keep on doing such things because of his own benefits, he just keeps on pushing Dogecoin to the moon and we cannot blame him just because of that, he is just doing things that will help him and his company as well. We can also earn some money by what he is doing just like me, I already earned huge profit from investing in Dogecoin, I wouldn't invest it in the long term because I don't think that manipulated coin would not be too good in the future, but at least I got benefits from the current situation.

Nope.. it looks as if he is done with Bitcoin. Tesla has made around $1 billion in profit from Bitcoin after their investment in January 2021. Now they will probably repeat the same with Dogecoin. But I strongly suspect that eventually Elon will come up with his own cryptocurrency. All this drama about high electricity usage is just an excuse to dish out his own version of cryptocurrency. At least for a brief period, I have to admit that Elon successfully managed to fool everyone here in the cryptocurrency sector.

The screenshot of Elon's conversation with Jack on Twitter clearly shows that Elon knows quite a bit about Bitcoin mining.  with him continuously pumping Dogeshitcoin, i'm 100% sure Elon wants to make Dogeshitcoin an environmentally friendly cryptocurrency that Tesla accepts :D

Assuming that he bought privately, is there any specific policy that prohibits Elon from buying cryptocurrencies that his company also buys? Do you have any proof that he also forced Tesla to convert part of their assets to BTC without board approval so he could also pump his bag? I'm looking for strength in your argument that he illegally manipulated the market.

What are we gonna do if he suspends it? Our whines won't do anything to change his mind, maybe he has a business plan that involves selling green energy and the reason for quitting in the market is so he can sell it to the mines around the world, kind of like taking his hiatus in the market as a hostage and I am sure that people are going to buy it.

Elon Musk is very crooked to have stopped accepting Bitcoin when in February his company bought $1.5 billion and added Bitcoin as payment. Tesla took a $250 million profit at the end of April when Bitcoin peaked at $65,000. I don't think his company bottomed out so soon when the news broke that it stopped accepting Bitcoin.
Apparently, their behavior is market manipulation. Elon Musk has traded his reputation for money and caused many people heavy damage.

It is unfortunate that Musk called his company "TESLA".
Nikola Tesla was was a great inventor and futurist whose dream was to provide free energy to everyone on earth. It was an idea based on physics and the energy of nature that he considered to be a main source of the endless supply of electricity, which would be able to provide power at any time, anywhere. Unfortunately, having been misunderstood at the time, his research never got past the development stage, as he died in January of 1943 in a small hotel room in New York, alone, rejected and poor.

Musk could learn a thing or two from the life of this great man.

Elon Mask is not acting like a 10y old kid and Tesla is not trying to be environment friendly at all. Actually, for people like Elon Mask growing his money is really important. He is saying bitcoin will consume too much energy and it's not environment friendly while they accept fiat and fiat is damaging the environment much more than bitcoin. He is actually very smart and by he know his tweets can effect the market so he will try to manipulate the price by tweeting. Whenever he feel like it he will make positive tweets and make the price rise and whenever he wants he will write negative tweets to make the price fall is short term. However, bitcoin is much bigger than this and people like Elon Mask who abuse people will make only temporary effects.

of course i will do the same.. But this guy elon is different and so very brilliant guy because he alway believing that using his tweet/post he can easily convince ppl to follow his path, and that is to manipulate the market up and down immediately .  But how can you assure ppl around the internet will follow according to your plans if you do the same like what elon's doing ? I think its impossible and i know this elon is not alone except his fellow friends in social media.. Wherein for sure he has billionaire friends also like him that's why market always pump and dump after he post/tweet on social media.

You guys should be well aware that Elon Musk is trying to manipulate the market price of BTC and if he's capable of pumping BTC just by his tweets, then we should always keep in mind that he can dump it any time he wants. Majority of investor in BTC follows the market trend and I think he's trying to take such opportunity into profit.Well, its not like he cares about BTC, it's all about profit and image after all

He is like a clown. Manipulate the market to bring about your own profit. This is so embarrassing as a world billionaire. I think someone has paid for Elon so he posted the tweet lines that shake the market.

If he could manipulate the market with a few tweets and make billions out of it, then I wouldn't call him a clown. I would rather call him superman. It took Warren Buffett many decades to make the amount of money that Elon Musk made in a few hours with his manipulation of the cryptocurrency market. IMO, he is one of the most intelligent billionaires out there and I won't be surprised if he becomes the richest person in this planet very soon. That said, I don't think that what he is doing is something very ethical.

Tesla cars are already too much  expensive to buy  ;)
He wanted to stop accepting bitcoin for tesla and he used a baseless argument to quit bitcoins. Tesla shares are going down since the day he has done this tweet.

The guy is a clown there is no doubt about it. Also his bipolar behavior is very unpredictable. Mix that with a narcissistic ego and you have a bomb cocktail. Many will get burned with this guy, it's just a matter of time.