Tesla destroys bitcoin :-[

[Asuspawer09]

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 mean yeah the news is not that great and really has a negative effect on the market price of bitcoin bringing it down to 50k$ but I don't think that could kill bitcoin at all.

yeah for sure, we did see bitcoin reach up to 40k$ without the help of Tesla, because we did past the 50k$ because of the Tesla announcement of accepting bitcoin as a payment method when buying a Tesla car.

I don't know if the tweet or the reason is acceptable for some of the investors but it's not that bad that this happened but its just gonna delay the growth of bitcoin or passing the 100k$.

[carlfebz2]

You're shaken just after a 12% drop? Lol you must be totally new here. If you're THAT easily affected by negative press, you probably shouldn't be investing in the first place.

Exactly!

New people who had just recently jumped in into this market will usually freak out when they do saw such dips in price just because of some news and thinking that -12% drop isnt something

that you should panic on and by just looking into the history itself then you can eventually tell that this is just a normal day here on crypto.There might be some news attached to it but doesnt mean

that it would be the end of everything. Market price does make out corrections and its a typical thing and you should get used to it because if you do let your emotion do control you anytime
then its hard in terms of investment decisions.

[verita1]

Some argue that Elon was pressured to say that "Tesla has suspended vehicle purchases using bitcoin."
Motivating the price of bitcoin to drop so that companies buy bitcoin at a lower price.
Bitcoin has already gotten used to these moods. We often search the news to find out what's new to understand these price drops.

In my opinion we must be aware that if a lot of money is made with bitcoin and cryptocurrencies we must demand the use of the most environmentally friendly networks, we need to act against the effects of climate change and support the leaders of this cause so that the planet is the big winner.

[mrjoy15]

Elon Musk do what he can, but is there any way we can retaliate on his proposal to Bitcoin. Few crypto enthusiastic guys canceled their Tesla Cybertruck order, and sold out their TSLA stock. Honestly, I don't think this is just a small portion and won't make any changes. However, people should short TSLA as we did long with Bitcoin.

[isaac_clarke22]

~

Media is making it look like that companies control Bitcoin's price, but if you've been here before like 2018 or something, you'll realize that there were more events that liked "destroyed" Bitcoin but still managed to rebound.
From 20k to 4k back in the days was one. This drop isn't anything new anymore, OP.

[virasog]

Elon cannot destroy anything. He's not strong enough. It may create a short-term manipulation, but it is an inevitable fact that the bitcoin and crypto world will dominate in the long term.

Its true that bitcoin wont be effected in the long run by Elon Musk but we need to remember that he has a 54.5M Followers on his twitter profile. If his positive words can pump the bitcoin, it can also dump the bitcoin with his negative words. We have already seen some negative effects of his tweets recently and he can move the current market. 

[Cryptmuster]

New people who had just recently jumped in into this market will usually freak out when they do saw such dips in price just because of some news and thinking that -12% drop isnt something

that you should panic on and by just looking into the history itself then you can eventually tell that this is just a normal day here on crypto.There might be some news attached to it but doesnt mean

that it would be the end of everything. Market price does make out corrections and its a typical thing and you should get used to it because if you do let your emotion do control you anytime
then its hard in terms of investment decisions.

This is a normal human reaction to a decrease in the price of his investment. But you rightly said that this is normal for a person who has just started investing, for an experienced investor, such a reaction is unacceptable.

Everyone who chose bitcoin for investing understands its advantages and prospects, he expects in the future that bitcoin will be very expensive in the future. And Tesla is not capable of destroying bitcoin, these are just manipulations for which someone will have to answer, I hope.

[slaman29]

Oh, come on now! I know the consensus is Elon is a fool, and everyone involved in Bitcoin has to hate him, but seriously he's much more than a car manufacturer. I'd say his more prolific, and impressive work is with SpaceX. So, although it does annoy me they have come out with this announcement, I won't just discredit him out of spite. I do believe this was a calculated effort to improve their brand reputation, though which just shows we the lack of courage they actually have. Since, they definitely don't have the proof that Bitcoin uses any more energy than several other industries out there.

I agree here. I mean, I think he's a bit of an idiot and and egomaniac (not sure if that's the right word) but he has done a lot of really good engineering that will help the future of electric vehicles and space travels.

You can't have it all. Geniuses are hard to work with and even harder to live with. And everyone was happy when he pumped crypto, so we should also be happy he can also dump it. It takes a world to make crypto:)

[mindrust]

That's certainly not a good publicity for bitcoin. But on the other hand I heard Elon is now thinking about accepting Dogecoin which is the most surprising. Isn't doge also using PoW just like Bitcoin? I thought he was searching for a non-PoW coin to accept for his cars.

Anyway I never liked his cars so I don't really care.

I wouldn't get one if he was throwing his cars for free.

[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

Bitcoin will recover soon but it is Tesla which will be destroyed if elon musk fuds about bitcoins. Elon Musk tweet wipes $14bn off Tesla's value. People will hate Tesla if Elon Musk keep on targeting bitcoins and promote Doge.

[macson]

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

nothing will destroy Bitcoin, including Tesla and Elon....Bitcoin is controlled by all of us, the news about Tesla only make small corrections and after that everything will return to normal, within 24 hours after that news spread the Bitcoin price was still stable at $49k-$50k.  

[Blitzboy]

You're shaken just after a 12% drop? Lol you must be totally new here. If you're THAT easily affected by negative press, you probably shouldn't be investing in the first place.

12% is enough to create an unhealthy environment. You have to understand that there are a lot of new investors and they all want to increase their capital with bitcoin. But with such tragedy, many newcomers have been blown away. Long term investors may not be affected, however, it is 100% novices are being in the depth of pain

[Lorence.xD]

12% is enough to create an unhealthy environment. You have to understand that there are a lot of new investors and they all want to increase their capital with bitcoin. But with such tragedy, many newcomers have been blown away. Long term investors may not be affected, however, it is 100% novices are being in the depth of pain

It is a test as to who deserves the big profits, now if these new investors think that when they bought bitcoin, they can already profit really quick then they deserve to lose their investment because they are greedy. Bitcoin alone will not be a good money making machine, if you don't have the patience then you won't be able to get a profit out of it.

[swogerino]

You're shaken just after a 12% drop? Lol you must be totally new here. If you're THAT easily affected by negative press, you probably shouldn't be investing in the first place.

12% is enough to create an unhealthy environment. You have to understand that there are a lot of new investors and they all want to increase their capital with bitcoin. But with such tragedy, many newcomers have been blown away. Long term investors may not be affected, however, it is 100% novices are being in the depth of pain

Bitcoin is not related to Tesla,sure Elon Musk impacted the price when he invested in Bitcoin first and is also doing the same now by saying he will not accept Bitcoin as a form of payment for Tesla cars but I think he intentionally is doing this to make the price go down and buy even more Bitcoin at a cheaper price thus increasing his capital.In the end the price will skyrocket again and novice investors should not be scared of such price swings.

[Woodie]

At the moment I think we doing the damage our selves, not Tesla!

If you remember back in the day when markets were volatile  a 10% was normal and we moved on, now Tesla pulls out and we giving them free coverage on the forum, TV stations , the list is endless and we keep giving bitcoin a bad picture, let's move on bitcoin is a free market and people will always jump ship,it's normal.

[Welsh]

12% is enough to create an unhealthy environment. You have to understand that there are a lot of new investors and they all want to increase their capital with bitcoin. But with such tragedy, many newcomers have been blown away. Long term investors may not be affected, however, it is 100% novices are being in the depth of pain

Its an investors dream, that's why Bitcoin is so lucrative to traders. Its fallen a little over 10%, and the Tesla announcement is likely going to effect Bitcoin in the short term rather than the long term. I don't understand all the doom, and gloom. Their message which, I've said smelled like an attempt to improve PR relations, wasn't even that bad.

New users probably suffer the most, and might panic sell after an influential business has discontinued payment of Bitcoin, but Tesla isn't vital to Bitcoin adoption, nor is Tesla the likely candidate for most Bitcoin users to buy a car from.

[aysg76]

You're shaken just after a 12% drop? Lol you must be totally new here. If you're THAT easily affected by negative press, you probably shouldn't be investing in the first place.

I was just surfing across the instagram and I came across one of the crypto related page on my feed and saw this image and wanted to share on this thread.Every time the market is down the panic sellers get into this trap and think now btc is going to crash and is most probably dead.

Bitcoin don't need any single company or rich individual to grow in the market and people holding it will eventually be the real gainers in coming days.This market is not for some panic sellers as they contribute worse to these corrections.

[hazenyc]

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

For me it could also have been a coordinated attack. I would like to know whether right before his tweet there were some suspicious shorts on Bitcoin in the market or whether he really posted that message against Bitcoin without letting anyone know in advance.

[Ziskinberg]

It doesn't work that way. In the first place, Tesla does not own bitcoin, bitcoin was used by Elon to hype the market, but Bitcoin will survive even without Tesla. Besides, Tesla is not the biggest in the market, there's a lot of big company that will eventually adopt with bitcoin and it's nice that we know this early the real color of Elon Musk.

[kalihunter]

Maybe Elon is enemy i think