Bitcoin Forum

On May 13, Tesla CEO Elon Musk said on Twitter that Tesla has suspended the use of bitcoin to buy cars due to concerns about the burden on the environment caused by the large amount of energy required for bitcoin mining Other cryptocurrencies are also used for computing power mining, such as ETH, which is also a kind of energy consumption. For BTC mining, renewable energy is now used for mining and the protection of environmental pollution has been greatly improved. We all know that Mr Masquerque is a big spender, but why has he become cheap

It may be that the recent news of BTC has been touched by the recent activity of Tesla CEO Elon Musk (Elon Musk), which once again triggered fluctuations in the value of bitcoin. He recently tweeted that Tesla may resume accepting Bitcoin as a payment method

Is this capital support for BTC or the hot event of BTC again? Which leaves us guessing

You need to mention the year which was 2021.

It was a lie that he did not know about the energy bitcoin mining is using, he was only looking for ways to pump doge.

This is not important to bitcoin adoption. He stopped Tesla payment for bitcoin in May 2021, but bitcoin later increased to $69000 that year in November. Bitcoin without Elon Musk also increased to almost $74000 this year.

Bitcoin do not need Elon Musk. We all know how he is a big time Bitcoin manipulator. And when he's company Tesla stop accepting Bitcoin it indeed affected the market price of Bitcoin. But we soon recovered and moved past that event.

Elon Musk is no longer relevant in the Bitcoin community even if he goes on to say that spaceX would start accepting Bitcoin for whatever reason that wont don't change a thing. We know what he is. Bitcoin is growing steadily and also as a result of the amazing community it has therefore we need no distractions adjust time either from Elon Musk, Peter Schiff, Gary Gensler or any other deceptor in the community masking as a supporter.

Yes, it's true that Tesla did stop accepting Bitcoin as payment for it's electric cars back then in May 2021, but the news about if will it come back to accepting Bitcoin after renewable energy source have been used for Bitcoin mining remains a speculation, of which it's not yet valid, untill it's official by Elon Musk himself, who happens today to be the father of Meme tokens such as Dogecoin & Dogebaby. However, one thing certain now is that even though Elon Musk comes back to accepting Bitcoin as payment for his electric cars, he can never have such big influence he has back then in 2021, which affected Bitcoin immediately the news went viral.  But however, he still have a great chance of renewing his influence, but only if he integrate his new app "X" formally known as Twitter into accepting payment with Bitcoin (i.e in-stream subscription, payment for X content creators & e.t.c). Then alone can he reclaim his influence on Bitcoin back.

Ethereum operates on a Proof-of-Stake model, which means that unlike Proof-of-Work cryptocurrencies, it consumes no energy overall. 


Maybe it's just my perspective, but cars don't hold much significance for me.  What's groundbreaking about this news aside from the fact that it involves a company owned by one of the wealthiest people?  Isn't it simply another product?  And to me, it seems somewhat unnecessary.  I don't frequently purchase cars, but when I do, I prefer taking out a loan and repaying it monthly rather than paying with bitcoin.  It makes more sense financially. 

I have been holding out hope that Tesla would let people pay for the Cybertruck with BTC but it appears that will never happen now.  Elon has been pretty silent on BTC since Tesla stopped accepting it and it seems like it was due more to the board pushing back on Elon and him deciding it wasn't worth the fight considering everything else he's got going on.  I'm sure Elon is aware of the 4-year cycle by this point, so I would sort of assume if Tesla was going to start stacking BTC long term by accepting it for their cars, they would wait until the best time to do so, which in my opinion would be in late 2026 or early 2027.

This is what he said in the year 2021.
So I'm curious about your source that Tesla would be accepting Bitcoin as a means of payment soon.
Let's say its true then it would be for his benefit not Bitcoin
He needs Bitcoin to rise
Bitcoin doesn't need Elon Musk.

We have the same thoughts but I'm not sure for 2026 maybe around 2027 when bitcoin is again at the bottom price. Accepting BTC during bearish is too risky we do not know this month if BTC would touch again at $70k as we can see the BTC price action on a daily time frame it's following the bearish trend and pointing to around $52k so if Tesla is going to accept BTC at the current price then they would lose for long term holding. I'm sure they're not going to do that.

Do not give him the attention he wants. Bitcoin does not need the adoption of any single business to grow, if Tesla resumes accepting Bitcoin as a payment method that'll be a decision they make based on their perceived benefits and not as a helpung hand to the Bitcoin network.

Not a hot event at all, please think it through: How many of the people holding a large amount of Bitcoin are going to want to use it to buy an expensive car? Probably not enough to ever make a big impact.

The negative impact Musk's stoppage of accepting bitcoin in Tesla had in bitcoin, assuming bitcoin was not a strong force, that would have been the end of bitcoin. But then bitcoin survived the shot and that made many Bitcoiners hated Musk and his company. He might return with his dodge manipulation, but his reappearance will not thrill real bitcoiners this time around. Besides, bitcoin is bigger now and does not need any single entity to adopt it. It can survive whether Elon and Tesla accepts it or not. There's definitely gonna be global adoption whether or without Elon. He'll return to the moving ship no doubts but will not be as powerful as he was the other time.

The market doesn't acknowledge the common trader but top whales that have impacts on the market. Bitcoin doesn't need the aides of any firm to explore, if you could remember vividly that bitcoin is the first cryptocurrency and have been formidable enough since day one. Elon Musk who's incharge will always plans ahead of his firm and he sincerely knows what's best for his team. Tesla accepting bitcoin as means of payment will always keep running smoothly because the price of Bitcoin this period do maintain stagnant price.

First Musk announced that Tesla will accept Bitcoin and then a few months later he reversed the decision citing climate concerns. What does this mean - either he made a hasty decision without proper research, which means he's a bad businessman, or he intentionally manipulated the market. I think both are equally likely and either way it means that none of his words or actions should be important to Bitcoin investors - he already proved himself to be unreliable and anti-Bitcoin.

Why is this even in the news?

I think it's just a marketing stunt by Elon Musk and his team by riding on the news and attention bitcoin creates whenever Bitcoin make headlines with new all-time highs in the bull market.

Bitcoin does not need Elon Musk and Tesla, Elon Musk and Tesla need Bitcoin.

Exactly, and i don't think he or tesla will come back accepting bitcoin againby for the reason of it as it already accomplished most miners are using green energy unlike the big factories all over the world.

Or they probably know something that us plebs don't know about or it's just a plain and simple reason, they probably want to circumvent the taxation with bitcoin or something like that, I'm sure that Tesla will have a way to not pay taxes if they accept bitcoin as a payment for their cars plus they're probably desperate for the money because Tesla is facing a lot of backlash with their cars right now with the Cybertruck having the most issues in my recent memory. Also, isn't Elon not the CEO of Tesla anymore?

I am no expert in the US taxation policies, but if there is any Country where you want to circumvent taxation using Bitcoin or crypto, then the last place should be the US. Those chaps tax even the gains. In some countries, that is not the case.

He still is the CEO (https://www.tesla.com/elon-musk)

Elon musk is a multimillionaire and I know for a fact that he does not care about the environment or whatsoever as long as it is beneficial to him. He has incorporated NFTs on his brand Tesla and we all know that NFTs are extremely harmful to the environment.
It’s one step closer to wide adoption of bitcoin but it does not affect the price of bitcoin directly. Not everyone has a Tesla nor will everyone be interested in buying one so why should people care whether they can purchase or not a Tesla with bitcoin? Even if I can’t afford a Tesla yet, I will continue to hold on to my bitcoin thank you very much.

Mate this is not recent news so why would you associate this to recent fluctuations of bitcoin’s price? The acceptance of bitcoin by Tesla does not only encourage investors of bitcoin but also would encourage other brands to do the same which would lead to more acceptance of bitcoin by the rest of the world.

So if Tesla says that they accept bitcoin then bitcoin must pump due to investors wanting to get a piece before anyone else.

Now that's just funny of them to do, really stupid too if you ask me. They could've not removed this option back then and they're probably reveling in riches right now if they were accepting bitcoin as payment back when the price was around 20k, that is a mighty stupid decision for them and now people don't care about Tesla anymore. I don't know if I'm right to say this but in my opinion, this is probably one of the biggest blunders in history of business. Anything positive about this, I just hope the same thing as @peter0425, that it will introduce bitcoin to new people and encourage other brands to adopt the same payment option.

LOL No, because nobody really cares about Elon anymore after he pulled off the scams a couple of years ago.

He basically started praising bitcoin to get a foot in the door as the media went bananas over his "praises" and advertised him in the crypto world.
Then he started advertising shitcoins that led to their pumps so he liked it (he may have made major investments in those shitcoins to make profit as well).
Then he started bashing bitcoin by spreading FUD about it while advertising more shitcoins to get those pumped.

I don't know if your title is correct or not but changing his stance at this point is not going to matter as much as it did back at the beginning.

The roller coasting ride that Elon musk set on bitcoin and doge back then is just crazy. At first he tweeted a little about it, then Saylor on twitter said to buy bitcoin with Teslas cash and he publicly showed interest. Then a little while later I think he bought $1B or so in bitcoin.

Bitcoin pumped , all was well and then all of a sudden he took a huge u turn and stopped accepting it for that environmental reason and a while later sold most of their BTC holdings. And price went downwards around that time.

Then doge peaked on the day that he went ok SNL. He barely mentioned Doge and it marked a top and started to decline.

I think that would be a big change into the market conditions.As we all know that Elon is a great business man and he markets his business really weill. Now if BTC payments will be linked to Tesla then upon sales BTc will also grow.

This means that the future of tesla and Elon Musk both are directly related to the future of BTC and it's a very great news to hear.

I’m not even a tiny bit concerned about what opinion Elon Musk and Tesla have on Bitcoin. Elon Musk is not someone I’d trust when it comes to cryptocurrency. I remember the stunt he pulled with Micheal Saylor, acting like he had genuine interest in Bitcoin. His true motive was exposed when he suddenly started shilling doge coin and attacking bitcoin claiming bitcoin mining was destroying the planet. I think the fiasco on X with Micheal Saylor was for him to get the attention of the crypto community so he could be able to shill doge.

I thought there is new news, but I do not think that the same character that caused a stir in 2021 will return back in 2025, there will be a new event with new people just as it was in every cycle, so it is better not to put much hopes on Elon Musk or Tesla.

Remember what he did during bull season in 2021? He is a businessman and what he wants is money, profits, nothing more, nothing less. In addition, bitcoin can develop on its own without depending on or needing the help of any individual or organization. The fact that Tesla or any other company accepts the use of bitcoin means that they want to create benefits and profits for themselves, and do not have good intentions for bitcoin. So don't think that their acceptance of bitcoin will benefit bitcoin and praise them as angels.

I don't know if Elon has any new tricks to continue to influence and manipulate the market. But if he uses the same trick again, I don't think it will work anymore because everyone already knows about this trick and they won't be stupid enough to be fooled by him again.

Would you buy the Cybertruck with BTC? Then bitcoiners could be identified by the presence of this car. :)

For some reason, many people believe that Elon Musk is omnipotent in his company, but as you correctly noted, there are other high officials who can influence decisions on accepting bitcoin as a means of payment for the products of this company.

And knowing about this cycle, Tesla will recognize and reject bitcoin under the pretext of protecting the environment or something else every 4 years. :)

From a business point of view, it is more rational and profitable to accept payment in bitcoin during a bear market.

Similar news comes out from time to time and the reactions on social media are checked. I think this is the case. It looks like Elon will never cut ties with crypto. As in the past, with one tweet, many people will take collective action. There is no need to say anything about whether this is true or not. Investment binds only the person making the investment.

News about something related to Tesla or Elon will always attract attention in the crypto market. I agree with what you said about not pinning too much hope on Elon Musk or Tesla.

Elon wa just trying to pump and dump bitcoin just like how he was doing it with Dogecoin.
He was quite successful upto an extent but people have become aware now of his tactics.
Many people have stopped listening to him and the fluctuations due to his announcements have decreased too.

To be honest, Bitcoin never needed him, just like other similar people who are very rich, narcissistic and think the world revolves around them. The "problem" is that a lot of people have a very high opinion of such people just because they are rich, and few will dare to ask whether their wealth is fully or partially the result of the exploitation of other people around the world who work very hard in impossible conditions to such people would be billionaires.

Does anyone sane want Bitcoin to be promoted in any way by a man who just laughs and waves his hands at a picture like this?

https://www.talkimg.com/images/2024/05/12/1Zb6Z.png

Yeah, use an anonymous means of payment that's more expensive and less convenient in order to buy... a car... that is necessarily... registered in your name.

Moronic...

This is a reminder that digital currency will never be something that people use for "large" transactions in a mainstream way because most people don't want anonymity for large purchases (https://medium.com/@stephen-r-thomas/the-anon-paradox-anonymity-big-small-1231a6a060e4), only small ones. Most people don't want their car or house owned by a private key that could be lost or could be stolen, they want it owned by themselves using their actual name.

(Conversely, most people want "small" purchases to be totally anonymous).

It's kind of ironic to hear from a CEO that employ technology and sourcing methods that aren't environment-friendly either. At this point, Elon is just trying to manipulate the market indirectly by stating that they will be accepting bitcoin and crypto for car purchases. Even if that goes away, who, in their right mind, would use it to do huge purchases knowing that crypto in general performs a lot better compared to other traditional investments out there?

Musk is a liar and a manipulator. I wouldn't trust a word he says. He claimed that Tesla would start accepting bitcoin once 50% of bitcoin mining is from renewable sources and it hit 54% in January but Tesla ignored that because it was all bullshit.


It used to be a proof of work coin for years, so it's not like they're suddenly a green coin. It's been barely 8 months since it switched to PoS.

You actually believe this con artist Elon Musk? As for me, I don't believe a single word that comes out of his mouth regarding any discussion about Bitcoin, opinion about Bitcoin or what he see when people discus about crypto because he had the opportunity to change Bitcoin for good but he screw us up, he mess up a lot of people's investments when they found out he sold almost all the Bitcoin Tesla was selling making excuses of liquidity testing.

If he is going to accept Bitcoin as a means of payment, he should be my guest but I know the guy is having an agenda to either push the Bitcoin price perhaps he has bought some and he want to try again using the bull run that is coming but I guess last bull run losses has made everyone learn their lesson.

Fuck Elon and Fuck Tesla. I will prefer for him to sell his Bitcoin holdings as well. Bitcoin is more powerful than Telsa or Elon Musk. He is mental, and he fucks Bitcoin always. So I really don't want Bitcoin to be accepted by Tesla. If someone needs to buy Tesla with Bitcoin, they could simply exchange for fiat and buy it. How brilliant is he that he doesn't know how many percentages of energy are consumed by Bitcoin miners? It doesn't make any difference whether he accepts Bitcoin as a payment method or not. So we don't need more drama from Elon. He would destroy the market again. Because he would create FUD again, investors may panic. 

One thing is, bitcoin halving has passed maybe they really want to ride on the trend that the bull run is around the corner, man didn’t even quit before because of any care for energy consumption but rather wanted to take his profit and use a way to hype Doge that doesn’t run on POW, that energy consumption in bitcoin is a problem. This coming back might be for a new shitcoin promotion again, probably using the bitcoin transaction fees as a bait this time.

As for causing FOMO I don’t think he has that pedigree anymore to pull a huge upset on the price like before because many who are in bitcoin now are not famzed buy People like him. There are many huge investors or entities now investing bitcoin like ETF approved entities and they can’t currently be moved or panic because of this things like this. So right now he can’t simply cause that FUD anymore

Could be them just cashing out again due to bitcoin becoming hot shit. At this point why do we even care about Elon Musk's crypto credibility, he can't run a company even if his life depended on it, he bought one of the biggest and most important micro-blogging sites on the interweb to personally inflate his ego and create an echo chamber of bots and incels that support him, and all his wives hates him so much he can't even greet his BMs a Happy Mother's Day. Is this the kind of people you would love to trifle opinions with? Add to this the fact that Tesla is one bad breeze of air away from being delisted in NASDAQ, and we got a man and a company clinging on a lost and extinct social status.

So yeah, they can accept bitcoin all they want but I'm not gonna care about it anymore, and neither should you, you know what's going to happen after this when shit hits the fan. So the best course of action here is to just deal with what could really serve us well.

Whatever Elon does relate to Bitcoin or other cryptos will always bring a big FOMO wave and also a terrible FUD wave.

It made no difference when Tesla initially announced that they accepted bitcoin, but they sold their bitcoin holdings instead.
And now some rumors suggest that Tesla will start accepting Bitcoin again, but now the most powerful rumors about the acceptance of DOGE as an alternative payment.

---

About bitcoin's problematic energy consumption and overuse of energy.
Miners are now wise enough and aware of their environment, so some miners are already using renewable energy and are more environmentally friendly.

Some Bloomberg analysts such as Jamie Coutts reported that in September 2023,
bitcoin mining already uses renewable energy with a percentage of 50% and this is good enough and environmentally friendly.

https://cointelegraph.com/news/bitcoin-clean-energy-usage-exceeds-50-percent-tesla-accepting-btc-payments

Maybe it will happen again if Trump wins the election. I think the reason why Elon has become silent about Bitcoin is some pressure behind our backs, he must have felt like it is not worth it, seriously if Trump or Kennedy Jr won the election these big public figures might come out once again and start saying what they have in mind.

Mind you, Elon is always known to be a Doge man, even if he talk about Bitcoin he is doing Doge coin a favour, these billionaires don't have power over Bitcoin, but the listeners who likes Hype and Fomos, with or without Elon Musk Bitcoin will still do very well.

They all understand the 4 years cycle, and I believe that when the time is right we will start seeing some crazy tweets again, they understand the game, and they very informative too, I personally just don't give a heck about them is all.

Even a Doge founder did not support speculation behind the coin and what Musk did with it was purely speculative. He's a well known guy with many followers and used that influence to make money. What he did to bitcoin is in fact forbidden with stocks, but he did not go to jail because cryptocurrencies are largely unregulated and his whole pump and dump happened when SEC was still thinking if it's a commodity or a security.

Personally, I'm not going to ever buy a Tesla, so I don't care if they accept bitcoin or not. I'd feel better if people like Musk stopped scamming people and lying about bitcoin's environmental impact.

Where is this tweet exactly? I scoured his tweets for the past week and there was none related to resuming BTC payments. At least that, or I just suck but well give me proof of it at least.

But anyway, if it was true, considering his influence on DOGE holders who knows, there might just be a wave about it. As much as some people hate him, he has a big influence overall among a lot of people so its no surprise if it actually happens. Personally though I don't really give a damn, and neither should most people imo. In the first place he became famous in crypto in general because of how he was one of the first few big name supports for crypto no? That phase is pretty much over I'd say.

Not really though.
If you review the chain of events of those days, you can clearly see that there already were trends that Elon just jumped on. For example bitcoin was already rising and gaining a momentum before Elon jumped on board and started "advertising" it. Then again that momentum had already died and the correction/crash had already begun for multiple different reasons, then Elon jumped on board of that and started spreading his FUD.

In other words, the only thing you can say with certainty is that Musk contributed to ongoing trends but didn't cause them.

For me, Musk could go fuck himself whether he goes back to accepting bitcoin payments for Tesla or not. But inevitably, if he does, it will have an effect on the market, as it did in the past when he announced he was accepting bitcoin payments and then stopped accepting them. Just like when he bought and sold bitcoin.

That's definitely a thing that Musk should do but good for Tesla to be getting back into accepting bitcoins for payments again, they've been a disaster all this time and I think that it's a good tine for them to get some wins because I don't know how can they keep doing all of this, they've got issues with their cars right and they've got some money problems too? This move will probably make things better for them. I hope that they do the same thing that they did with bitcoin back then though, they can do something with the market and hopefully I can capitalize on it to grow my own money stash.

Believe me, he is still very influential and can manipulate Bitcoin's price if he wants. The guy is one of the richest person, owns one of the most famous social media called Twitter (X). He has an influence, just imagine if he starts a crypto business and invests bunch of millions of billions of dollars into specific advertising, I bet he can change the fate of this coin for better or for worse but even without that, he can still manipulate it with his words.

What gives you a reason to say that NFTs are extremely harmful to the environment? NFTs have nothing to do with environment, they are just harmful in a way that money is made out of thin air and too many dumb people lose money (debatable whether this last one is harmful or not).

Some issues try to be labeled with bitcoin at this point just to draw attention to itself, in any case, sort of +bitcoin content.

Not only stories about Tesla, Elon Musk, USA, China,... a series of different issues have appeared that partly reflect the influence of bitcoin at this stage, perhaps people do not want to miss the opportunity that bitcoin brings, acceptance is widespread but one day there will be people turning away and talking about bitcoin being harmful.

And anyway, bitcoin is still bitcoin, no matter what it adds, it means we are only trying to find benefits through bitcoin.

What are you talking about? I would like something to back this up. Elon has ridiculed NFT use cases many times and i've not heard anything about tesla/nft incorporation, even though i have been wathing this scene pretty closely. And i even googled about it to be sure, but if someone has shared some article about this, or you've seen a youtube video about it i am pretty sure you have been conned with a deepfake, and hopefully you didn't invest anything.

If Elon makes one or two tweets, there’s no doubt that Bitcoin will not go over the roof. But I don’t think it’s a good thing for Bitcoin. We are already dealing with price fluctuations and volatility, I’m not sure more volatility is what Bitcoin needs. While I don’t know his true intentions, I know that Elon is a very smart man and all his moves are 99% calculated. So he knows what he’s doing and it’s best to watch than participate because he has money we don’t.

His momentum is dead, and Elon's influence on the price of Bitcoin is also not as strong as before because he also became a FUDDER and sold some of his holdings.

Now the trend is still going pretty well, after a halving correction occurred and some intimidation from the SEC and ETF policy became the main focus.
Elon does not exert any pressure and tends to focus on his business only.

True, elon musk has quite creates a numerous scenes and a lot of people didnt like it so his influence to bitcoin price will not be that impactful anymore, unless he has a huge amount of holdings, like a whale so if make a movement in the market then expect that the market will follow, but I doubt that he will invest more on bitcoin unless he really is, because imagine the amount of money he already has, so he doesnt need to do bitcoin, but the fact that he is ready to accept bitcoin payment again means he will accumulate more bitcoin holdings and the intention is unclear, what is his intention? Its just that he wants a expand the choices of people to buy his products? Or is it for his own good? Anyway no matter what it is, its a good news for those bitcoin holders, they can now brough tesla car using their assets.

I don't think that we should give him more attention with whatever he does now. With what's happening to the Bitcoin's price as of now, we've reached back to $71k in just a few span of minutes after it has just hit $70k. And to give an idea to the other people that have been an avid fan of Elon and his companies, whether he's in or not, the market will continue to go on and Bitcoin will flourish no matter what. I can't deny that there's a significance of his influence to it because many are his followers but he's always on an all talk guy for the memes so, spare yourself if you're an avid fan and don't take his words as financial advise if you're an investor of BTC.

Not anymore. But we're on a bull run and again with talks like this will certainly gather the attention of the media and they'll for sure gonna publish headlines against that will have that tag line of Elon BTC, Tesla invests in BTC and whatnot. That's how the media is capitalizing with this although the significance isn't no longer compared years ago when it was a new news and selling like hotcakes. If you're an optimistic guy and enthusiast about adoption, you'd just welcome it whether they'd be back or not. Because with Tesla investing on BTC before and it was published, the market shoot and skyrocketed no doubt. But what's the bigger take of the market and community nowadays, are the financial institutions getting their space through BTC spot ETFs.