Tesla destroys bitcoin :-[

[boyptc]

It might be a big deal today but tomorrow it won't be.

You know why? because bitcoin is known to be one of the most resilient assets that we ever had. Just compare this when Microsoft had also announced the same before.

But what's with it right now? looks like nothing happened and bitcoin continued to thrive.

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[masphie]

Maybe you should go back in time (10 years ago). If you are in that year, this should not be how you think about bitcoin.
But if you are new to crypto, it's better to look for information about bitcoin 10 years ago.

[Alucard1]

The bitcoin volatility is not totally caused by any social media platform, if you got shaken by this thing, then you are probably new in the crypto world, there is no surprise with regard to this thing, just keep holding, you might lose the chance to earn more if you are going to sell it all by just what happened to bitcoin right now.

[NotATether]

This is a bunch of crap.....

Tesla should look at it's own footprint, when it comes to environmental impact. They did not build those cars and rockets from minerals that simply appeared out of the magic sky... those mineral was mined and mining pollution is real. What happens to all of those batteries that are used in all their cars, after it reach it's end of life?

How much energy do they use to build those cars and to run those manufacturing facilities?  On the other hand, most bitcoins are mined with renewable energy sources in China. (Hydro electricity / Solar / Wind)  

The whole announcement of Tesla accepting BTC payments was a joke anyway, why would you make a business decision only to reverse it a month later because of reasons you should've initially thought out before making such announcement in the first place?

[iTradeChips]

I saw that tweet of Elon, and I would say, the tweet is not really the reality behind Bitcoin mining. Many have been using renewable energy sources in other countries like wind and hydro, I mean they should have looked further and see what they are talking about. All I think about what's happening with Bitcoin now is that possibly Elon has already sold his Bitcoins and now he wants to lower the prices by putting out some a bit bad publicity behind bitcoin. Fortunately for the coin, Elon is only one of the many traders of Bitcoin and he did not get the price that he wanted to buy Bitcoins so he will try to put more negativity with the coin. As of today, many fans of Elon will now regard him as one corrupt businessman like most of them.

[Kittygalore]

If this is your definition of destruction then you should probably leave the bitcoin market because this isn't even a crazy crash, Tesla still has their coins, they are just suspending their bitcoin payments for their products.

[LoyceV]

Bitcoin doesn't care about that small car manufacturer wannabe.

There, I've fixed it for you  

There, I fixed it back for you

Seriously though, I assume all this is only for attention. The Bitcoin mining process is well known and well documented, it's not as if any new information came to light. So I'm sure they knew all this already, which means they have other reasons for saying this now. It could very well be they're buying back the Bitcoins they sold last quarter, and need a price drop for it.

It seems to have backfired on his stock price though: Tesla stock and bitcoin drop after Elon Musk says car sales with crypto will be halted due to energy usage of mining .

[NeuroticFish]

There, I fixed it back for you

 

I'm sure they knew all this already, which means they have other reasons for saying this now. It could very well be they're buying back the Bitcoins they sold last quarter, and need a price drop for it.

Exactly. They do play some dirty game to take advantage of the already dropping price, somewhat in sync with the stocks.
The story is so weak it cannot be another reason. (Edit: For example also Tesla cars run on electricity i.e. coal, by the same logic...)

It seems to have backfired on his stock price though: Tesla stock and bitcoin drop after Elon Musk says car sales with crypto will be halted due to energy usage of mining .

All the stocks have been falling anyway and all this tweet/story makes sense only as a short-term move imho.

[iTradeChips]

It seems to have backfired on his stock price though: Tesla stock and bitcoin drop after Elon Musk says car sales with crypto will be halted due to energy usage of mining .

Now, this is my What if scenario. I am not really familiar in the working of this big traders and brokers up top that handles corporate accounts. But what if, the only purpose of doing that tweet is to rattle Bitcoin so the price get to a low, and then they might be able to buy Bitcoins at a cheaper price again? Do you think that is the case? I am sure my common sense would dictate that would be the best thing to do. Get the prices low and then buy low, do another strategy to make the price higher again and then sell your share. What do you think?

[lifeforcepools]

I was ready for this. So I'm not surprised at all.

[Bilgent]

Bitcoin Plunges as Tesla Halts BTC Payments Over Environmental Concerns
Inexplicably, after this event, Really after this event, I feel shaken; if only relying on media to grow, bitcoin will collapse at some point!

https://www.coindesk.com/bitcoin-tesla-50k-environment-concerns

Elon Musk's decision affected Bitcoin price really badly. It came down to $46.9k in the last 24 hours. But now, it seems like it has started to recover again. Now, the price is $50k. This kind of news manipulate the price but they don't affect that bad anymore. Because Bitcoin is much stronger now.

[ILuckyGuyI]

Yeah, the market has been affected a great deal after Elon Musk tweeted about it. It managed to recover to $50k but it is below that level again. It seems that we could see Bitcoin price struggling at these levels for some time again. But I don't expect a sharper decrease (like going below $40k) in the near future.

[acener]

No it didn't destroy Bitcoin I think it is too much to say that they destroy Bitcoin because no one could even the government couldn't destroy it.
It is normal for Bitcoin price to drop down whenever there are negative news about it that is the FUD effect for me.
Just wait and it would soon recover so relax and enjoy it no need to stress yourself about it.

[Ararbermas]

Stop relying in some news around the internet because its not make any sense in here mate. Ahm probably you're new enthusiast wherien still don't have enough information how bitcoin really works..  So i suggest you mate do some reasearch maybe it can enlighten you.. Because on this kind of game if you fell into some fraud traps you'll end up your career easily without knowing.. So you need to be smart instead. I hope you got me. 

[Andrews193]

The bitcoin volatility is not totally caused by any social media platform, if you got shaken by this thing, then you are probably new in the crypto world, there is no surprise with regard to this thing, just keep holding, you might lose the chance to earn more if you are going to sell it all by just what happened to bitcoin right now.

Not completely but a piece of the puzzle that has left its place, all is still enough for bitcoin to go under the control of the media because whales are in dire need of such powerful undertakings, a suitable impact to lead to a price drop, Elon Musk and Tesla really give an unexpected card in decisive moments. However, a good investor will know how to lift their holdings to another level, such a bad trend will turn to a good outcome, bitcoin's time has proven this.

[acroman08]

Bitcoin Plunges as Tesla Halts BTC Payments Over Environmental Concerns

Lol, I am pretty sure Elon musk already knew about the environmental concerns since it had been a hot topic in the past to put a bad image over bitcoin. only a moron would believe he is actually concern about it now.

Inexplicably, after this event, Really after this event, I feel shaken; if only relying on media to grow, bitcoin will collapse at some point!

https://www.coindesk.com/bitcoin-tesla-50k-environment-concerns

if you are easily shaken, I guess bitcoin isn't for you. also, bitcoin doesn't rely on media. sure media helps on spreading the information about bitcoin but don't give media too much credit that you think media will be the reason for bitcoin's collapse.

[thecodebear]

Bitcoin Plunges as Tesla Halts BTC Payments Over Environmental Concerns
Inexplicably, after this event, Really after this event, I feel shaken; if only relying on media to grow, bitcoin will collapse at some point!

https://www.coindesk.com/bitcoin-tesla-50k-environment-concerns

Your account says you are a newbie and no doubt a newbie to bitcoin in general. Nobody who has been in bitcoin for a while or understands bitcoin is worried in the slightest just become one market manipulator made a few bad/ignorant comments about bitcoin lol. All this did was once again show the market that bitcoin's BOTTOM is the 40,0000s! Only way from here is up.

[mark-o-polo]

no worries about bitcoin - but i will never buy a tesla or tesla stonk!

[Kayum10029]

If  Death Note was real he would kill Elon for this nonsense.

Very interesting but panicked. I already invested dogecoin and Bitcoin following elon musk instructions but every time I got huge lost. I again lost huge amounts of bitcoin profits tweeting elon musk as Tesla disallow Bitcoin. It's a another tricks of Elon musk.

[MFahad]

Bitcoin Plunges as Tesla Halts BTC Payments Over Environmental Concerns
Inexplicably, after this event, Really after this event, I feel shaken; if only relying on media to grow, bitcoin will collapse at some point!

https://www.coindesk.com/bitcoin-tesla-50k-environment-concerns

I think you are new to the bitcoin world. There has been many attempts in past too where people / organizations attempt to destroy bitcoin or spread negativity about bitcoin but in the end they fail to make any sustainable impact on bitcoin. Same will happen after this statement by elon musk. Clever are the ones who are buying the dip.