Elon musk is for crypto or just for attention to boost Tesla, SpaceX?

[Ale88]

Very interesting choice so if it is the choice to go with there you can assume his other companies are next.
So we can see twitter accepting it as a source of payment soon as well.

Maybe I'm missing something, I mean, for sure I'm missing something because I keep not understanding why Musk is accepting Dogecoin over bitcoin. Dogecoin is nice if you want to tip someone online, but accepting it as a payment for something very expensive like a car? Unless the plan is to hype it up, as usual, and then sell everything. Same old story but people keep following any weird message from this guy...

Personally, I thought the exact opposite, because Elon Musk had in a previous period sold all his bitcoin savings to complete the Twitter purchase deal, and it would be better for him to continue accepting bitcoin payments for the sale of Tesla cars.
I think there are two possible explanations for this action:
- Elon Musk still owns a significant amount of Dodge Coin and seeks to raise its price as much as possible before selling it. This may be a result of the period when he began posting tweets supporting Dodge, only to find himself involved in a large amount of money after its price fell.
- Maintaining his supportive position for Dodge Coin so as not to appear manipulative.

So let's say that either way is probably just a temporary position. the final goal is always dumping all the coins. And to be honest it couldn't be otherwise, there is not a single reason to keep accumulating Doge. I understand he's so rich that probably he doesn't even know how much money he has but at the end of the day he's a business man (among many other things) so I don't think he likes losing money.

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[coupable]

Very interesting choice so if it is the choice to go with there you can assume his other companies are next.
So we can see twitter accepting it as a source of payment soon as well.

Maybe I'm missing something, I mean, for sure I'm missing something because I keep not understanding why Musk is accepting Dogecoin over bitcoin. Dogecoin is nice if you want to tip someone online, but accepting it as a payment for something very expensive like a car? Unless the plan is to hype it up, as usual, and then sell everything. Same old story but people keep following any weird message from this guy...

Personally, I thought the exact opposite, because Elon Musk had in a previous period sold all his bitcoin savings to complete the Twitter purchase deal, and it would be better for him to continue accepting bitcoin payments for the sale of Tesla cars.
I think there are two possible explanations for this action:
- Elon Musk still owns a significant amount of Dodge Coin and seeks to raise its price as much as possible before selling it. This may be a result of the period when he began posting tweets supporting Dodge, only to find himself involved in a large amount of money after its price fell.
- Maintaining his supportive position for Dodge Coin so as not to appear manipulative.

So let's say that either way is probably just a temporary position. the final goal is always dumping all the coins. And to be honest it couldn't be otherwise, there is not a single reason to keep accumulating Doge. I understand he's so rich that probably he doesn't even know how much money he has but at the end of the day he's a business man (among many other things) so I don't think he likes losing money.

We used to have a hard time understanding this man's moves and schemes. And if his plans at the beginning of his career were crazy enough to achieve great successes for him, his current position does not provide good indicators at all levels: Twitter is a losing company that he bought for a ridiculous amount, SpaceX will not achieve profits before other years, Tesla suffers from multiple crises, the most important of which is the problem of producing batteries that could threaten the entire industry. All this and many still trust his investment decisions and believe that he is the wisest man.

[Cryptomultiplier]

Very interesting choice so if it is the choice to go with there you can assume his other companies are next.
So we can see twitter accepting it as a source of payment soon as well.

Maybe I'm missing something, I mean, for sure I'm missing something because I keep not understanding why Musk is accepting Dogecoin over bitcoin. Dogecoin is nice if you want to tip someone online, but accepting it as a payment for something very expensive like a car? Unless the plan is to hype it up, as usual, and then sell everything. Same old story but people keep following any weird message from this guy...

Personally, I thought the exact opposite, because Elon Musk had in a previous period sold all his bitcoin savings to complete the Twitter purchase deal, and it would be better for him to continue accepting bitcoin payments for the sale of Tesla cars.
I think there are two possible explanations for this action:
- Elon Musk still owns a significant amount of Dodge Coin and seeks to raise its price as much as possible before selling it. This may be a result of the period when he began posting tweets supporting Dodge, only to find himself involved in a large amount of money after its price fell.
- Maintaining his supportive position for Dodge Coin so as not to appear manipulative.

So let's say that either way is probably just a temporary position. the final goal is always dumping all the coins. And to be honest it couldn't be otherwise, there is not a single reason to keep accumulating Doge. I understand he's so rich that probably he doesn't even know how much money he has but at the end of the day he's a business man (among many other things) so I don't think he likes losing money.

We used to have a hard time understanding this man's moves and schemes. And if his plans at the beginning of his career were crazy enough to achieve great successes for him, his current position does not provide good indicators at all levels: Twitter is a losing company that he bought for a ridiculous amount, SpaceX will not achieve profits before other years, Tesla suffers from multiple crises, the most important of which is the problem of producing batteries that could threaten the entire industry. All this and many still trust his investment decisions and believe that he is the wisest man.

Elon musk has an entrepreneurial mindset and that's why he could confidently invest in all these projects ignoring the fear of unknown. I like his courage really, and no matter how you want to put it, he can never be broke even if all these companies fail.
He is one that has always believed in cryptocurrency and has some BTC, Eth and Doge coins in a wallet tucked away somewhere.
In 2021 when Tesla purchased some BTC, it could be likened to a whale move and it effected a price hike to about 25% which recorded an ATH of $48,000 as at then. Although, it was because it announced it was accepting BTC payment for  new purchase of Tesla vehicles with as low as $100 deposit.

When Tesla stopped accepting payments with BTC, the interest rate however dropped to 10%, this just goes to show you that despite the attention, a whale is a whale, and Elon and his Tesla and SpaceX are big whales in the cryptocurrencies ocean.

[rdbase]

Elon Musk is rebranding twitter before he steps down as current CEO to his new company X.
https://www.nbcnews.com/news/us-news/twitter-rebrands-x-elon-musk-loses-iconic-bird-logo-rcna95880
https://www.cnn.com/2023/07/24/tech/twitter-rebrands-x-elon-musk-hnk-intl/index.html

Reported on youtube by multiple mass media outlets:
https://www.youtube.com/watch?v=6PeyhrgbPAY
https://www.youtube.com/watch?v=Mpw0qA2ZQZY
ABC Australia - https://www.youtube.com/watch?v=No-jVsTp4fo

[Reid]

Thanks for the link @rdbase. I found out about this Tweet earlier today but actually ignored it because I thought someone is just messing with Elon. 


https://twitter.com/elonmusk/status/1683378289031761920?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet

“bid adieu to the twitter brand and, gradually, all the birds.”

I am curious about the "all the birds"? What could he mean by that?

There's also a report that says the tweets will not be called tweets anymore because of the rebranding. I think they are still thinking about a new way to call all those posts and reposts. It will be a difficult change for other people who uses this service, but I think it will be good for the business overall.

[Casdinyard]

Elon Musk is rebranding twitter before he steps down as current CEO to his new company X.
https://www.nbcnews.com/news/us-news/twitter-rebrands-x-elon-musk-loses-iconic-bird-logo-rcna95880
https://www.cnn.com/2023/07/24/tech/twitter-rebrands-x-elon-musk-hnk-intl/index.html

Reported on youtube by multiple mass media outlets:
https://www.youtube.com/watch?v=6PeyhrgbPAY
https://www.youtube.com/watch?v=Mpw0qA2ZQZY
ABC Australia - https://www.youtube.com/watch?v=No-jVsTp4fo

Saw this news a while ago. I must say this is one of the most stupid things he has ever did so far as a belligerent CEO of multiple companies, and he's already one of the most deranged ones out there. Twitter is a multi-billion dollar brand that people painstakingly worked hard for since 2009. Not the mention the amount of acclaim and promotion that it has received over the years. To rebrand twitter for no reason besides "continuity" as all his companies had "X" in their names is just stupid and is going to cost him a lot of money in the long run. He's already bleeding cash in Twitter, and he's seeing a worthy competitor in Threads, instead of aggressively selling the benefits of Twitter over their competitor he chooses to change the brand and all that. Good luck.

[Captain Corporate]

He is trying to build something that is combination of all things and maybe crypto could be at the center of it, like as a payment thing. The reason why he changed the name of twitter to X is the same reason. He is not secretly doing this neither, he is actually openly talking about how he wants to build one thing to hold all the things he has and twitter was the start of building that thing. One day when he has what he wants, he wants to be beyond government entity, someone who is not really in one nation like he is in the USA right now, but someone who holds enough power and information that he wants to be beyond ruling. Crypto could be a good way into that probably.

[wavessurfing]

He is trying to build something that is combination of all things and maybe crypto could be at the center of it, like as a payment thing. The reason why he changed the name of twitter to X is the same reason. He is not secretly doing this neither, he is actually openly talking about how he wants to build one thing to hold all the things he has and twitter was the start of building that thing. One day when he has what he wants, he wants to be beyond government entity, someone who is not really in one nation like he is in the USA right now, but someone who holds enough power and information that he wants to be beyond ruling. Crypto could be a good way into that probably.

mainly YES.
remember that he is one of the founders of Paypal. Maybe he has not all the rights on the name twitter.
He has previously proven that he is able to start from scratch.

[rdbase]

I think he got plan for crypto twitter proves it

Well he has already has a license agreement pending for cryptopayments with filing an LLC.
As well with the twitter coin sent out to users as beta testers awhile ago as shown with the screen below by Tree of Alpha:


So you know there will be a cryptopayment system put in place just don't know what route he will go with.
Create an X coin instead of using an already existing cryptocurrency?

He is trying to build something that is combination of all things and maybe crypto could be at the center of it, like as a payment thing. The reason why he changed the name of twitter to X is the same reason. He is not secretly doing this neither, he is actually openly talking about how he wants to build one thing to hold all the things he has and twitter was the start of building that thing. One day when he has what he wants, he wants to be beyond government entity, someone who is not really in one nation like he is in the USA right now, but someone who holds enough power and information that he wants to be beyond ruling. Crypto could be a good way into that probably.

mainly YES.
remember that he is one of the founders of Paypal. Maybe he has not all the rights on the name twitter.
He has previously proven that he is able to start from scratch.

Also remember what the company was called before it was PayPal?
It was called X.com - https://www.businessinsider.com/elon-musk-rebrand-paypall-x-sounded-like-porn-site-twitter-2023-7
He bought the domain back in 2017 so he had a plan setup for it put in place.
https://www.theverge.com/2017/7/10/15949862/elon-musk-x-com-paypal-tesla-spacex-domain-name

[risingtide]

So you know there will be a cryptopayment system put in place just don't know what route he will go with.
Create an X coin instead of using an already existing cryptocurrency?
...
remember that he is one of the founders of Paypal... Also remember what the company was called before it was PayPal?
It was called X.com

Yes he wouldn't do a drastic rebrand unless he had something big up his sleeve. And the Doge maxis will no longer get the Elon bumps they used to get as he's now moved onto his own crypto.

[mendace]

He is trying to build something that is combination of all things and maybe crypto could be at the center of it, like as a payment thing. The reason why he changed the name of twitter to X is the same reason. He is not secretly doing this neither, he is actually openly talking about how he wants to build one thing to hold all the things he has and twitter was the start of building that thing. One day when he has what he wants, he wants to be beyond government entity, someone who is not really in one nation like he is in the USA right now, but someone who holds enough power and information that he wants to be beyond ruling. Crypto could be a good way into that probably.

I'm a bit skeptical about using a decentralized currency like Bitcoin where it would make everything very difficult for them, I rather think they will keep everything centralized so they have more control.  Ultimately he is crazy because he makes drastic changes but I doubt that he is so strongly crazy to bet on Bitcoin because what advantage would he get?

[jeraldskie11]

In my opinion, Elon is taking advantage of his popularity since a lot of people watching him. Whatever he do and suggests, people will follow because they believe Elon. Elon is a smart person, and he knows what he is doing. Just like what happened in doge last 2021, the price has exploded because of him. He invested before the price of doge exploded and I'm sure he profited a lot. Because of that, it benefit both of his project and in the community of crypto. In other words, "two birds in one stone".

[Reid]

In my opinion, Elon is taking advantage of his popularity since a lot of people watching him. Whatever he do and suggests, people will follow because they believe Elon. Elon is a smart person, and he knows what he is doing. Just like what happened in doge last 2021, the price has exploded because of him. He invested before the price of doge exploded and I'm sure he profited a lot. Because of that, it benefit both of his project and in the community of crypto. In other words, "two birds in one stone".

True. He can actually manipulate the market on however he prefer. Either with his money or with his reputation. It's a cool thing but could be dangerous when abused. IMO, he took advantage of his position and now making more profits because of it. He has so many followers that they would also invest on where he will go.
News came out about the X company in San Francisco.
https://www.cnbc.com/2023/07/31/elon-musks-x-corp-seen-removing-giant-glowing-sign-in-san-francisco-.html?qsearchterm=elon%20musk

Talking about reputation. Despite that, there are still people who will be up against him especially if it's wrong.

Twenty-four complaints have been initiated with San Francisco’s Department of Building Inspections, a spokesman said. Those filing the complaints said the sign was put up without a permit, is unsafe, and is a nuisance. One said that its flashing lights made it hard for residents to sleep.

Let them sleep Elon.

Here is Musk's response.

“San Francisco, beautiful San Francisco, though others forsake you, we will always be your friend,” Musk posted on X.

I am still waiting if Musk will try to inject cryptocurrencies in his new X company (formerly Twitter). It could boost the market of the industry if done right. They say the number of users went down because of the subscription payment but I do believe it's still a good platform for advertising business.

[rdbase]

In my opinion, Elon is taking advantage of his popularity since a lot of people watching him. Whatever he do and suggests, people will follow because they believe Elon. Elon is a smart person, and he knows what he is doing. Just like what happened in doge last 2021, the price has exploded because of him. He invested before the price of doge exploded and I'm sure he profited a lot. Because of that, it benefit both of his project and in the community of crypto. In other words, "two birds in one stone".

I whole heartly agree with you there @jeraldskie11

With this battle between the tech giants they have everybody's attention and the world is watching.

https://twitter.com/elonmusk/status/1691541362079068162

If you two are not going to fight.. might just be better to hug it out!

https://twitter.com/ElonMuskAOC/status/1691173592904667139

On a serious note, why not fight for a prize of bitcoin or in Elon's case a bag of Doge.

[rdbase]

The bitcoin market really dumped alot since even when FTX was dragging it down when it's dirty business dealings got revealed.
This is what everybody is saying is the cause of the recent price spike to the downward spiral:
https://www.wsj.com/tech/behind-the-curtain-of-elon-musks-secretive-spacex-revenue-growth-and-rising-costs-2c828e2b

The very last paragraph where it states that SpaceX had sold it's bitcoin they had reported on their balance sheet a year ago is no longer holding it.
This shouldn't matter but it seems to have rocked all of the cryptocurrency markets for one reason or another.

[cheezcarls]

In my honest opinion, I do not think he is really meant to be in this space. Although it's just a rumor that SpaceX has sold of their Bitcoins (but Evergrande is the main possible catalyst), I honestly think he is just only for attention.

We do appreciate the time that he hyped Bitcoin and made it to almost $70k thanks to his all-out support in DOGE. But I think he's not really meant to be in this space but we can't stop him from making decisions on his own like buying BTC at the dip and selling it high.

[rdbase]

We do appreciate the time that he hyped Bitcoin and made it to almost $70k thanks to his all-out support in DOGE. But I think he's not really meant to be in this space but we can't stop him from making decisions on his own like buying BTC at the dip and selling it high.

He not only hyped up bitcoin for his own purposes but is known to do this for anything he is trying to garner attention too.
Especially toward his companies SpaceX/Tesla/Twitter now all under one company name X.

https://kansasreflector.com/2023/08/19/what-elon-musk-and-mark-zuckerbergs-canceled-cage-match-says-about-masculine-anxiety

[flyingcarpet]

In my honest opinion, I do not think he is really meant to be in this space. Although it's just a rumor that SpaceX has sold of their Bitcoins (but Evergrande is the main possible catalyst), I honestly think he is just only for attention.

We do appreciate the time that he hyped Bitcoin and made it to almost $70k thanks to his all-out support in DOGE. But I think he's not really meant to be in this space but we can't stop him from making decisions on his own like buying BTC at the dip and selling it high.

I think celebrities like Elon play a key role in the spread of crypto. We all know how much advertising money is paid to promote something in the world. I won't go into the benefits of advertising at length here. Elon is promoting Bitcoin. Elon is buying and selling Bitcoin. All of this is good for Bitcoin. Nobody is telling us to buy Bitcoin high and sell it low.

As a result, advertising is useful and important for mass dissemination.

[rdbase]

Here is an advertisement from the language on the banner could be in China on a BTC atm of Elon and his favorite coin, Doge.

source: https://mashable.com/article/tesla-bitcoin-dogecoin

But it is speculated he had sold most of one or all of his companies bitcoins in recent months.
One can only take a guess at this point in time as his X platform is wanting to come up with a payment system of their own.
But which cryptocurrency will they eventually choose?
Could be they will end up doing what paypal has done and come up with their own stablecoin and use this instead.

[bbc.reporter]

Here is an advertisement from the language on the banner could be in China on a BTC atm of Elon and his favorite coin, Doge.

source: https://mashable.com/article/tesla-bitcoin-dogecoin

But it is speculated he had sold most of one or all of his companies bitcoins in recent months.
One can only take a guess at this point in time as his X platform is wanting to come up with a payment system of their own.
But which cryptocurrency will they eventually choose?
Could be they will end up doing what paypal has done and come up with their own stablecoin and use this instead.

Elon was quoted in social media that says the most entertaining outcome is the most likely and he also continued with as seen from an external observer, not the participants.

We cannot be quite certain what he was telling everyone by saying this, however, it might imply something about Dogecoin. It would be very head scratching if he can make this joke pump to be in top 5 of the cryptospace.