Bitcoin Forum

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Yes, it will probably bring the price down, which is great if you have the opportunity to buy more. I think it's quite embarrassing for elon to behave like this. I don't doubt it's annoying to deal with the btc twitter hive-mind in all its glory, but he should have recognized that he brought it on himself.

At the end of the day, bitcoin doesn't care about elon, and elon probably doesn't care all too much about bitcoin. We all know he had very little to do with PayPal's success, so I don't see why so many people value his financial opinions so highly. IMO, if he understood the technology, he wouldn't be claiming that bitcoin is highly centralized, and that it's reviving the coal industry. If he really knew the incentives, he would be promoting bitcoin mining as an alternative to Tesla powerwalls/battery packs for clean energy sources that have surplus energy, this would be a win-win for him since either his profits increase or the security of his store-of-value BTC increases.

disclaimer, I bought the dip

How sad that the one who made the bitcoin price go up, he will also be the reason why its price will go down.

But we need to accept the fact that he is doing it for himself and we're not included on that.

We just need to look for other crypto that is also profitable not only bitcoin because there are soon more news that will make the price of bitcoin to hype up.

It's the fault of both sides, Elon being a baby and can't take the criticisms and the crypto masses crying over the fact that Tesla suspended their bitcoin payment option but didn't sold their bitcoins, is this what you want in the first place?

It takes a life to build a reputation, Elon is very actively working on the basis that crypto users and hodlers are just stupid. In my view he is completely illiterate in so far as crypto is concerned and he is exchanging a limited and valuable asset (his reputation) for a sum that may look like a lot to many, but has no relevance ¡n his life. I really thought that this guy knew a bit more about business.

https://www.yourselfquotes.com/wp-content/uploads/2018/02/Images-for-Warren-Buffett-Quotes.jpg

I mean let's be real here, it's like Elon isn't taking the community seriously, like he sees us as idiots. Just with the reason he used to throw away BTC as payment. I'm not even mad with him stopping BTC payments, heck that comes and goes as far as I'm concerned, nothing new there. But presenting a reason like "hard for the environment"? Heck, giving no reason at all might be the better option. Let him sell it, dump it in the market, at least the market would go back to people who actually know what they're investing in.

"Elon Musk is going to part with all his Bitcoin BTC" IMHO he already did before he made that baseless tweet. We understand that the crypto market has its ups and downs but the little push by Elon musk will soon blow over and the market returns back to normalcy even if it will take some years as usual but at least I hope Investors learn from this and not quick to react to all such kind of news.

RIP fellow bitcoiners, it was just a matter of time. We all had a good run and now it's time to say good bye. Its sad how we are all just lemmings in the world of Elon Musk. Nothing we can do than to accept our downfall. Hope we will get a new godfather who is better to us than Elon Musk was. It lasted very short but so is the game. I am sure we will see each other here again in 2-3 years. Good luck everybody

https://i.imgur.com/v40zkk7.jpg

https://twitter.com/elonmusk/status/1394170030741413888

....

Looks like Elon Musk / tesla are HODL'ing still.

Indeed, currently most investors in crypto are those who only see the benefits of issues, not those who put forward the biggest fundamentals and innovations in the economy so that the market is very easy to move only with stupid issues.  I'm so sick of the Elon effect.  How long does this end and all of her tweets are considered winds of day.  Do all investors now consider Elon to be the father of crypto?  So that all his words are like the light from the sky.  The easier it is for us to be consumed by the Elon twit issue, the more fragile the potential market will be.  Are we that easy to let the market collapse just because of the whales?  Aren't there many people who believed in Crypto before Elon?  there are paypal, visa and mastercard, micro strategy and many other big companies.  Why is Elon always being deified?

He is a clever guy, we would not know what his action, just like investors, we are just speculating if he sold his crypto or not. HE is still the hottest topic, we can see how the crypto world is getting affected if there's big news about Tesla and Elon, and at the moment, it's the bad news that is affecting the market resulting in a dump.

If Tesla will sell their bitcoin, then be it, and that doesn't mean there's no chance they'll buy and hold it again.

That's what I'm thinking--bitcoin has survived worse news than this, although in this case it's more than news if Musk dumped a ton of bitcoin onto the market all at once.  I just looked at preev and the price is just over $44k, which is quite a drop.  I don't know if this is a case of people following Elon Musk and selling bitcoin or if it was his sale or something else that caused it.  Who knows.  Hopefully it won't take too long for bitcoin to rebound, because I don't think the bull market is over.  Not by a long shot.

As far as Elon Musk's reputation goes, I don't think he damaged it by anything he's done with bitcoin.  It does look like he hadn't thought things through before making statements and his buying and selling, but maybe he's just impulsive.  I don't know much about the guy.

See it is going down for sure. There have been a lot of quotes and tweets from these people. It have actually been immensely tense these days.
https://i.ibb.co/ByDtHPJ/IMG-20210517-WA0004.jpg (https://ibb.co/N9hsg3q)
Trust me the guy have gone crazy there is a limit of market Manipulation. He just wants to put our some new crypto and start it from scratch so that he can earn more profit.
https://i.ibb.co/jzKCPpK/IMG-20210517-WA0005.jpg (https://ibb.co/w7HnFvH)
He is speaking like cryptocurrencies and doge are different.
Another one :
https://i.ibb.co/DLmYB0L/IMG-20210517-WA0006.jpg (https://ibb.co/7bBQ3sb)
What is he doing ?? Is this even legal ? With such people controlling the market are we even going to go anywhere? He talks about how Centralized Bitcoins is , but he is indeed the worst of the whales in the same. The small Investors are getting harmed and the rich ones are just playing games.

The market is down for sure , unfortunately. I do hope the government will take some action against these Manipulations, but I am sure that Bitcoins will never go tulips ! It will spike back up ! But ofc it will take some time.

Hold , trade , wait for the right opportunity.
P.S. these SC's are being shared everywhere by everyone I wonder how it would impact the market.

People will soon forget what he did to bitcoin when years pass. He has one of the biggest companies in the world (although many people think it is over evaluated) and his products definitely serve the future of mankind just like the blockchain. Besides, after making a big amount of money with bitcoin, do you think he will ever need his reputation again?

I was quite disappointed with his childish and precipitous tweets. I surely he and his company do earn a decent profit with such manipulation. However, you can't simply deny what he did to the crypto world.

Seriously I am looking forward to the worst that wants to happen even if he dumps/sells all the coins he is holding. I know if he leaves more investors will eventually resurface and life continues. It will definitely affect some people to also sell off their coin because they will fear the price drop rate which eventually may lead to the price drop. For me holding continues and I am patiently waiting for these outcomes.

I'm tired of seeing this name "Elon Musk" everywhere in the entire forum there's a lot of threads regarding this.

I think instead of pointing out with Elon Musk, we have to be wiser enough to study the patterns, analyze the data and be proactive.  Let’s stop the nonsense, people are using the move Elon Musk did to hate him publicly and to release anger and envy.

People always find loopholes to people they envy and then use it against them to attract more people to hate.
There's also a possibility that people are really trying to trigger Elon Musk, then like a snowball effect, Bitcoin goes down and then they go in to make their move.  Be wise people, be wise!

Let him do that. I don't want people like Elon to hold Bitcoin. Why they should own an asset, which they hate so much? Exchange rates may go down for a few months, but eventually it will go back to the previous levels. We don't need Elon or any other billionaire to make Bitcoin more popular. Even before Elon endorsed it, the user base was growing at 5% to 10% per month. And from what I can see, Elon's involvement has done more harm than good for Bitcoin. I would say that he pushed Bitcoin a couple of years back.

It already DID bring the price down, that is not really even a question, it is obvious that they already started selling because of this tweet. However there is always a valid reason to remind people that same Elon musk usually ends up joking about things so we do not know which thing he said was real and which one is not.

Same Elon said that even though they will stop accepting bitcoin for Tesla cars but they will also hold their bitcoins as well and not selling their bitcoins which means when the quarter is over and they show how much bitcoin they own, they may have the same number of bitcoins and not sold a single one of them. Which will not recover the price honestly, people do not like those things, they do not care about good news on quarterly reports, they only care about the bad ones and take it even if it is just a tweet and nothing serious.

I can pretty much tell from all his recent tweets / tweet replies that he is currently sulking. Elon is so used to people calling him smart, innovative and so on yet he is showing that he doesnt understand a thing about bitcoin because of his reason to stop accepting Bitcoin for Tesla car purchase. Alot of people criticized it and tried to explain it to him but he doesnt want to hear anything because he thinks that he is so smart.

Well of course he is smart, he tries to send people to Mars which is unbelievable but when alot of people criticized him then he feel uncomfortable with that and even displayed a childish behaviour by calling Michael Saylor with Saylor Moon instead. Some people take it as a joke, I take this as a sign that he is sulking because he doesnt understand anything about crypto ( bitcoin in particular )

https://i.imgur.com/mgIufPJ.png

I wouldnt even be surprised if Tesla sell most if not all of their bitcoins anytime this year. He will make another excuses again this time

right, let him do that. that way bitcoin is not affected by just one person. so that cryptocurrency is not like a money game which at any time can soar and can also be destroyed for a moment. and finally finding the initial function will be more useful later

In my opinion, of course it has an effect even though it doesn't have too big an impact on the decline in bitcoin prices, because bitcoin is not only supported by Elon Musk but there are still many other entrepreneurs who invest in bitcoin in large, I hope that Elon Musk will no longer make twits carelessly so that it is bad for the current cryptocurrency price movements.

How is this breaking news in the first place? An investor smartly purchased BTC when he thought it was low and sold it when he felt it reached the target he aimed for. That is smart trading people.

This is how the world works. Scolding someone who earned money legitimately in a smart way is childish in my opinion.

I am still a fan of Musk primarily because of his creative ideas. He probably will sell his entire BTC stash, but might buy and HODL more Doge and other popular altcoins for the long-term.

You think EM investor is smart by manipulating prices? do you feel confident with your statement? How can the tweets he keeps on going up and down in the market be considered smart? It is true that the world works like that, but if in the world all the rich people with abundant wealth behave the same as EM I don't think the world will last long.

It doesn't matter if Tesla sells off their Bitcoins because the crypto market is decentralized and it can't be in decline forever because of an institution.
If Tesla doesn't buy Bitcoin, other hedge funds will invest in this cryptocurrency. Microstrategy is an investment fund that actively buys Bitcoin and cryptocurrencies as they consistently bottom out. I think they will make a significant profit as we know that Bitcoin will continue to appreciate in the long term.

Lol Every time Bitcoin goes up there will always be a reason why it’s going to go down again. Well, I am no longer surprised at this because every time the price of BTC goes up I look forward to when it will crash again, so it doesn’t come as a surprise to me. People are always going to tell you that the price will not go down again and that it is going to reach up to a $1 million price, lol, but all that never happens, it’s just hype.

When the price goes up heavily like this, there will also come a time when it’s going to take a break and wait for another time when it’s going to recover and that’s just it and nothing more. And indeed Elon Musk did get a lot of hate from Bitcoiners, but he brought it on himself for the things he did, so everyone is not happy with him. So let’s wait for when he’s going to be selling his coins, because when he does that, the market will go down, and that’s if he hasn’t as we speak.

After all, some wanted Elon Musk to no longer tweet about bitcoins? After he sells them, he is unlikely to want to write about them. Even if this continues, I don't think people and the market will react as painfully to his tweets.
It's a pity of course. Elon Musk has disappointed many with the latest negative statements about bitcoin. However, the invented flaws in Bitcoin mining are still better than if Elon Musk would speak negatively about Bitcoin and its prospects for existence.

Better that Elon musk gets out of the bitcoin market. because he can manipulate the crypto market easily. Previously he had dropped the bitcoin price to the $ 42K level, and then he jacks it back up with a tweet saying that "Tesla hasn't sold any bitcoins yet". so the bitcoin price rallied back at the $ 45K level. He only played the market for his gain.

I will be really surprised if TESLA sells all their bitcoins. A very important ideology of Tesla behind buying Bitcoin was also to remain profit positive for years to come until they can become profit positive using their operations. Even in the last quarter, their profit was solely due to the sale of some bitcoins. Moreover, when Microstrategy is buying more and more bitcoin and averaging itself at dips it would be a surprise to have another corporate that has an entirely different ideology. I think it's just Elon's way of blabbering around on the internet, actually, there is going to be on sale. Moreover mentioning the company's internal operation on Twitter platform is illegal too, I don't think Elon would give any such hints which could cause him to fall into legal trouble.

Everyone related to crytocurrency by now knows that bitcoin will no longer be accepted as a means of payment by Tesla. But the company did not announced that they will sell any of the bitcoins they purchased .It was even confirm by Elon musk himself that they did not sell any btc as of recent.

And then again, single tweet or news around him creates impact to this market. It's all in his hands as investors who followed him are doing the damages.

It's better for now that he leave the market and let bitcoin to progress naturally, with his vocal participation makes people blindly moved.

Currently the value of Bitcoin is moving down again $36K, best to assess every plan that you have to lessen  the chance of being wrecked out.

Not necessarily. All bitcoin has going for it is perception, which is why maximalists battle so hard to try and control the narrative. If growing numbers of people lose confidence in bitcoin or don't believe it will always increase in value, it won't. The perception makes the reality. So any loss of influence is a blow to the future of bitcoin.

Agreed. But when Elon has openly stated that Bitcoin is inefficient, then we can't expect Tesla to take a positive view of Bitcoin. Loss of influence is a blow for Bitcoin and there is no doubt about it. A part of the recent dip can also be attributed to this. But the question here is whether this setback is permanent or temporary. Can Bitcoin recover to the previous levels, without any help from Tesla or Elon? Now I am also not sure about this, and we need to watch the price movements for the next few months to reach a conclusion.

I think that OP forgotten that part of the story which is pretty typical of FUD spreaders that wants to insinuate panic that makes people do stupid things. Also, I don't get how OP missed that part because the suspension and them saying that they won't sell was on the same Tweet. Are they really that blind that the only one that they see is the parts that furthers their agenda.

Elon was successful with what he wanted to achieve, he made profits out of playing with the investors but it may slap him back with his future projects because he stabbed the people who trusted him once will never go back to him. While bitcoin is not new to these manipulation and for sure the price will stop but no one is going to stop the bounce back which may happen in months or years later but it will.

He isn't making tweets carelessly instead people are giving him too much credit at times but also criticizing him more than he deserves which might be the reason that Elon might opt out of this all because no one wants to hear bad about himself everywhere and right now people have been doing that non-stop. We as a community needs to do better and understand that even if Elon sells all his bitcoins, he cannot bring the market that much down.

This also tells us how toxic our crypto community is outside bitcointalk. I have seen some of the worst and first time heard slangs on twitter used against Musk and I am not defending him but come on guys just because Tesla doesn't accept BTC doesn't mean he was the reason for the dump. People have lost huge amounts and some even lost their lives during this time which is really unfortunate but we cannot blame Elon alone for all this.

See it as an opportunity to buy more and hold more bitcoins than if you had bought it when it's still high. We can't really blame Elon for selling his coins for whatever reason he wants to because before being a visionary, he was a regular person just like us. And admittedly regular me would also sell my bitcoins for fiat just so I can spend it on something that I am really passionate about. Let this selling not be something that would make us forget about what Elon is all about, which is primarily technological advancement and helping us become a space-faring species.

IMO, it will be beneficial for Bitcoin in the long run to get rid of manipulators such as Elon Musk. Let him sell his coins and move his wealth to some of the shitcoins such as Doge. Temporarily the Bitcoin exchange rates may fall due to the massive amounts involved here, but eventually the market will stabilize. And once the market stabilizes after the exit of Elon Musk, we will be ready for the next bull run. IMO, Elon's entry in to cryptocurrency has so far done more harm than good for BTC. The sooner he makes his exit, that much better.

Nah, Elon is the brain behind a successful company like Tesla,  I don't believe he didn't think things through,  he is too intelligent to fall in that category,  what I feel is, Elon loves meme coin and he view the whole crypto space as such, a fun place where little tweets can make a huge impact on the market,  he found a play toy,

Don't be surprised, after all this has gone down he will make another tweet how he misunderstood the whole btc mining thing, and the whole space will go crazy again,  honestly, I want to knock some sense into the head of those followers.

It doesn't matter Elon will buy more or sell them. but he also had to know where the position he was in right now. what I mean is, he is right now in the center of attention of the crypto community, I'm sure there will be consequences if he does anything significantly, imo

Agreed,  A business guru like Musk certainly has a number of experts who work tirelessly to research on anything and everything regarding investment, so saying that Elon didn't think this through is like a facade, I think Elon was aware of everything like the back of his hands, the guy is good at manipulating people.

this person (elon musk) has a huge influence on cryptocurrency, only by writing on social media can he control the market. right now I believe that there really is someone who can control the price of bitcoin or altcoin.

I'll have to agree on this one, Elon Musk's reputation isn't ruined just because he is manipulating the cryptocurrency market for his own profit. Not to mention that those who are accustomed to crypto are a minority. Musk's reputation has survived worse hits, such as his SpaceX missiles exploding after taking off, Tesla being unable to deliver pre-ordered Tesla 3 models, or even the poor quality control the model 3 had.

I'm sure he will be fine, although, he has taken a toll on the market for sure. The recovery process will take quite some time.

I dearly wish that they once and for all their coins and quit the market because all these chaotic events are not good for the cryptomarket. I do not want him to make tweets about bitcoins or any crypto at all. He was praised so much for the work he did to pump dogecoin that he forgot how much heat he will face when things don't go right for him.

I wonder what will happen once dogecoin dump starts happening, he might even get some death threats looking at how mad people are against him. In all this chaos it is actually Elon Musk who is responsible because earlier he shouldn't have made the announcement of accept bitcoins for Tesla cars purchase and if he did he should have honored it.

We don’t know about this for sure, maybe he hasn’t sold his coins yet, this tweet is not a proof that he has sold his coins. He’s just trying to let people know that the first tweet is right about what he’s likely to do when the hate continues.

Moreover the price has already gone down before the time that tweet was made, so if he should be selling it is not going to be at a high price, it’s going to be around this current price. So, I am not going to say that he really caused it fully, although I do think that he was part of what has caused the price to crash, because his tweet on Bitcoin as of recent and the kind of actions that TESLA has taken against bitcoin really made some people to jump out of Bitcoin and go in search of other coins.

Recently, Elon Musk has already announced that he is going to continue to keep his bitcoins and that Tesla may still accept bitcoins as payment for electric cars. Thus, he again showed his inconsistency and contradictory statements regarding bitcoin and cryptocurrency in general. I have already stopped paying attention to his statements, although they still continue to influence the price of the cryptocurrency, albeit to a lesser extent than before.
However, it should be admitted that Elon Musk played a more positive role in the popularization of cryptocurrency than a negative one. Any attraction of attention to cryptocurrency from influential persons is already good, as more and more people learn about it.