Tesla no longer accepts Bitcoin payments

[waelov]

he is saying that he done this because of tremendous use of Energy on bitcoin mining,
Its just bullshit Electric cars are not that Ecofriendly in the near future we will have a big problem disposing those Lithium batteries because in time just like a phone those Lithium batteries dies and they have to be replaced its not just like recycling phone batteries because cars batteries are not easy to recycle

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[Argoo]

He stated that it was especially due to high use of fossil fuels for Bitcoin mining. I can't believe he gives that as the main reason. It is not a problem that can't be solved. Miners can use renewable energy and it is done. I sometimes really don't understand what he is up to.

I agree that Elon Musk's excuse sounds kind of strange and without proper justification for making such a decision. As if he did not know before that bitcoin is mined and how it is done in practice. Moreover, there is hardly any statistics showing what percentage of bitcoins is mined using hydrocarbon fuels. In any case, his actions are contradictory and rash, and this does not correspond to his status as the owner of the world company SpaceX and the richest man.

[zanezane]

This is proof why you shouldn't trust guys like Elon. If you buy or sell according to the words of such people, this will be the end. Elon continues to make money again.

Not everyone will follow what you said, there will be people that will find reason as to why they want to follow Elon. The problem is that people buy when it is announced which is already too late because by that time the prices already pumped, if you know how to monetize the trends then you should continue doing so.

[aoluain]

A lit of people here were sceptical when he started an interest in Bitcoin.

Yea maybe Bitcoin doesnt sit well against the green product he sells...
and which i believe is subsidised by the U.S government.

Maybe he was pressured into this move?
I mean surely as a successful businessman he would have forseen the
perceived issue with tesla image and Bitcoin....

[Sanugarid]

link

I find it frustrating that Elon can so quickly jump from supporting Bitcoin to bashing it with poorly researched facts. That man must have some mood swings or something, and I wish he just stopped talking about crypto so the market could return to normal.

There's no way Elon will invest huge amount of money on BTC and promote cryptocurrency without doing researches about BTC. So obviously, he's scheming something to manipulate the current market trend and most investors back off the moment Tesla made announcement about BTC payments.

[Gatorelf]

I mean, it doesn't matter if the research he's referencing is accurate or factual. What Tesla, and therefore Elon is trying to do is make their brand look good. Tesla are pushing the agenda that by using their products they are helping the environment, and is bettering climate change. Which means, if they implement a currency which is linked with increasing the effects of climate change, they need to distance themselves from that as much as possible, since it doesn't matter if its correct, its the perception of their customers. I wouldn't be surprised if Bitcoin was implemented just to they could pull this stunt to try gain the trust of their potential customers.

Thus wouldn't ADA be the better investment ? 

[Kayum10029]

Due to huge amounts of energy consumption loses elon musk again denied bitcoin as his business deal. Bitcoin already dumped acutely after published elon musk tweeted. I wanna very much tried his daily joking news . I don't believe his tweets about cryptocurrencies.

[cheezcarls]

Now this Elon boy here is playing us like puppets! Bitcoin is now trading at $49k+ after trading sideways between $56k to $58k range. I know this market correction is normal, because we’ve been there before. After Bitcoin reached all-time high of $64k, it flash crashed down to $47k before slowly recovering back above $55k. His announcement alone takes us by storm where the whales took advantage of that crash and starts manipulating our minds and will be buying back at their targeted price.

[Anonylz]

Now this Elon boy here is playing us like puppets! Bitcoin is now trading at $49k+ after trading sideways between $56k to $58k range. I know this market correction is normal, because we’ve been there before. After Bitcoin reached all-time high of $64k, it flash crashed down to $47k before slowly recovering back above $55k. His announcement alone takes us by storm where the whales took advantage of that crash and starts manipulating our minds and will be buying back at their targeted price.

Elon can make all the noise he wants, btc will always remain strong come what may, there have been worse fud than that of Musk and btc survive it all, prove all funders wrong and shut them up for good, am only sorry for those who believe so much in his ridiculous tweets, his only interest is to make money,  he could be taking advantage of this dump now who knows,  the guy is multi-faces  

[iphone5s]

Due to huge amounts of energy consumption loses elon musk again denied bitcoin as his business deal. Bitcoin already dumped acutely after published elon musk tweeted. I wanna very much tried his daily joking news . I don't believe his tweets about cryptocurrencies.

It looks like you are too focused on reading Elon Musk tweet, maybe people are starting to believe what he once did to Doge. All this is unpredictable because he is not a god who can change what happens by making a tweeted. Whether with Elon Musk talking about not accepting Bitcoin will make Bitcoin experience a decline? Time to re-analyze what will happen in the future. I started to dislike that person because it could make people change their minds.

[TopTort777]

His tweet about huge use of fossil fuels for mining lead to Bitcoin price drop, that lead to an increase number of transactions aka mining in Bitcoin blockchain. By saying bitcoin mining is bad for environment he made it even worse for environment. Bravo Elon ! Next time don't launch your SpaceX shuttles. They pollute environment even more than Bitcoin miners !

[Taskford]

His tweet about huge use of fossil fuels for mining lead to Bitcoin price drop, that lead to an increase number of transactions aka mining in Bitcoin blockchain. By saying bitcoin mining is bad for environment he made it even worse for environment.

I don't think this really matters on how mining does but for what I see those tweet is just made for pure manipulation purposes, For sure he do that to buy more bitcoins at bargain price. We know elon always do this and its no surprise if he will announce about something good again in future.

Or maybe they see bitcoin is so volatile and its dangerous for their compant to be bankrupt if bear market hit, those tweetd are just excuse for eliminating bitcoin as an option.

[stompix]

His tweet about huge use of fossil fuels for mining lead to Bitcoin price drop, that lead to an increase number of transactions aka mining in Bitcoin blockchain. By saying bitcoin mining is bad for environment he made it even worse for environment.

Yeah, too bad that when trying to make a point you showed that you don't know how mining works, it doesn't matter how many transactions are processed by the network the same energy is consumed, full blocks or empty blocks.
Quite ironically, if his tweets would have brought the price down to 40k or so he could have indeed lowered the power consumption as miners would have seen their reward drop by 30%, and thus the most inneficient ones with higher energy costs would have dropped out and shut down their gear.

Now this Elon boy here is playing us like puppets! Bitcoin is now trading at $49k+ after trading sideways between $56k to $58k range. I know this market correction is normal, because we’ve been there before.

Common, look at the bright side, what would BTC be without all the drama.
Besides I'm having an extra fun time seeing how all the people who cheered Musk as an inspirational character and Tesla as the smartest company out there when they've bought Bitcoin are relentless now in cursing him and calling him names. Seems like people have no problems spitting on their idols when it starts hurting their pockets   I'm finding these moments quite entertaining.

[TopTort777]

Or maybe they see bitcoin is so volatile and its dangerous for their compant to be bankrupt if bear market hit, those tweetd are just excuse for eliminating bitcoin as an option.

So what do you think are going to be his next steps? Write something positive to see how the market reacts. And they say that Tesla is withdrawing 1.5 billion bucks back? Don't happen to remember what was Bitcoin price when Tesla announced investment? Just want to figure out how much they could have earn if they will decided to sell everything.

too bad that when trying to make a point you showed that you don't know how mining works

That is true. For me mining is a like a non-stop working power supply and fans, that produce heat. The greater number of transactions is, the greater they twist, the greater the heat

[stompix]

That is true. For me mining is a like a non-stop working power supply and fans, that produce heat. The greater number of transactions is, the greater they twist, the greater the heat

Lol, you see, your way of describing it actually falls in place with what BTC haters think of Bitcoin.
In short since if you're really interested in mining there are better resource out there than I could ever write:

The amount of energy spent on mining blocks depends on only one thing, the reward miners get from mining those, right now they are getting 900 bitcoins from block rewards a day and they can spend up to $45 million on doing so. If the price drops to $1000 they would be able to spend only $900k. If BTC skyrockets to 500k of course the sum will follow up and so will the energy consumption but the networks will still only be able to process ~400k transactions a day.

Theoretically, if it drops to 1 cent the networks could still process the same amount of transactions but probably the only ones mining will do so with their CPUs as the reward to be shared between miners would be $10, just like in 2010.

[geegaw]

they drop the support of btc but they are looking for another crypto and that could be dogecoin because elon holds this too but whats the differrence of doge to btc when both are crypto that uses electricity  .
i guess he only wants to promote his other coin again  . dogecoin hodlers are you ready ?

Tesla's action seems to have attacked too many investors today, it's hard to believe that such news will come in a period when bitcoin is in need of recovery, most stability but the giant that first supported bitcoin is also the initiator of this bloody market. After having bombarded bitcoin with such information, they continued to bring up another topic and advertise Doge, Tesla and Elon Musk are intentionally making fun of everyone in this market, doge holders should also be careful, bitcoin is an illustration of how scary a manipulator can be

[hatshepsut93]

Anyway, if Elon really has this much sway over Bitcoin, then perhaps there is a lot more retail power left in the markets, unlike what people have been suggesting about institutionals. Or are hedge funds also listening to Elon's crock?

It's a self-fulfilling prophesy kind of situation. When traders see a tweet from Elon concerning Bitcoin, they expect everyone else to react to it, so they try to be the first to react, and inevitably start the chain. And once momentum builds, it keeps going, because short-term speculators activate, leveraged positions get liquidated, etc.

On a more fundamental level, this was pretty bad, because the enviromental FUD gets more and more attention, so potential institutional investors might decide against getting into BTC if it would get them bad rep.

[online73]

Hello everybody. Elon Musk is a good businessman, and as it turned out, he is a good crypto manipulator. Whether he is right or not, in his conclusions, time will tell, I am happy here only that I was able to buy not a lot of Bitcoin at 47,500, - my hand could not resist, although I am waiting for 20K for Bitcoin, but something is hard to believe that with of this correction, Bitcoin will fall below 40K. Good luck everyone.

[yohananaomi]

Hello everybody. Elon Musk is a good businessman, and as it turned out, he is a good crypto manipulator. Whether he is right or not, in his conclusions, time will tell, I am happy here only that I was able to buy not a lot of Bitcoin at 47,500, - my hand could not resist, although I am waiting for 20K for Bitcoin, but something is hard to believe that with of this correction, Bitcoin will fall below 40K. Good luck everyone.

@elonmusk a reliable businessman with a reputation that he can influence crypto, of course it is extraordinary that he can do that. but surprisingly there are still many who believe what is being said even though of course there is a certain purpose as a businessman to look for lucky opportunities that will be obtained.

Bitcoin underwent a deep correction whether or not the influence of @elonmusk, all do not want to know, the most important thing for those with correction can buy and hold it until it will increase again.

but I will not see if this correction will continue, because the experience of March and April was like this and it did not go below $ 40K it has risen again. so there is little chance of time if you want to benefit from the correction.

[Issa56]

From the little experience am having Elon musk jump into cryptocurrency just to make is money and after that he will endup manipulating the price and dumping the price then leave since Elon musk started posting about bitcoin I notice bitcoin price have not been stable again even bitcoin price movement have not been normal again I believe he is just trying to distabilize bitcoin then leave because few weeks ago you advised people to buy bitcoin which leads to pump in price of bitcoin but see what's happening today you stop your company from accepting bitcoin which is a very bad idea and I believe this will also affect us company.