Tesla destroys bitcoin :-[

[sapnu]

The impact of having Tesla removing bitcoin as a mode of payment is paying off at the moment. It just show off how much influence Elon Musk has over the people considering that he is a billionaire and is famous for space explorations. Now, the market has turned red and bitcoin is currently experiencing the largest dip or the worst correction it ever had ever since the bull run started. The question now is who would stay and keep on holding their bitcoin because this time would filter those who really believe and bitcoin and those who are just going with the trend because the price was high.

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[Sanugarid]

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

Massive dip in BTC and other cryptocurrency coins is nothing to be compared to what happened to BTC way back 2018 and rejection of BTC as payment for Tesla is not only the reason why the market goes down. I think it's not really a big deal if they don't accept BTC as payment but the market overreact and many people over-exaggerate their statement which affects the market.

[Expecto]

Tesla really demolished the market after removing the Bitcoin payment method for its cars. Elon Musk has drawn really a huge attention after that. People are still continuing to shout at him and want him to stop manipulating the market.

[conected]

Right. The owner of Tesla said that he did not accept electric car transactions with Bitcoin, immediately this virtual currency lost thousands of dollars in value. By making a big impact on the bitcoin market, Tesla is destroying this market when it can let bitcoin peak and go downhill without brakes. It is dangerous to let Tesla control the bitcoin market. We need to have a proper solution against Tesla.

- There are not many suitable solutions for struggling with Tesla when the relationship of Bitcoin and Tesla is not very special, both are separate representations of different products, so they remove payments like bitcoin or even add a new payment like dogecoin, it will belong to the privacy and wishes of Tesla, except to be silent and consider the situation, there is nothing we can do to force them. What they destroy is just a small corner of bitcoin, the underlying foundations have not been destroyed and can still recover with time.

[ropyu1978]

only one company and only one person who does not accept bitcoin, in my opinion it cannot destroy bitcoin, because the Tesla company, and elon musk are not big bosses in bitcoin ''
they are just investors, not he who holds bitcoin, but the market that holds bitcoin. ''
don't easily believe their words ''
they are business people maybe they have another purpose behind their negative tweets about bitcoin ...

[newwest]

Right. The owner of Tesla said that he did not accept electric car transactions with Bitcoin, immediately this virtual currency lost thousands of dollars in value. By making a big impact on the bitcoin market, Tesla is destroying this market when it can let bitcoin peak and go downhill without brakes. It is dangerous to let Tesla control the bitcoin market. We need to have a proper solution against Tesla.

Due to his statements and results the bitcoin market is crashing and just to add the fuel China jumped in and banned mining resulting in double fuel to the fire and causing bitcoin to plunge below 40k now. Though it will recover and move back up again, but might just have some hurdles again in between and take some time to rise.

[Ibrahim60]

Tesla can't destroy bitcoin. Though the founder of Tesla, Elon Musk make hype by tweeting about bitcoin in his Twitter account and announce that he will accept Bitcoin for selling tesla car. For this announcement and tweet from Elon musk, people started buying Bitcoin and holding them. For this reason bitcoin Price going to increase enormously. But when agin Elon musk tell that he don't accept Bitcoin for selling tesla car then people who hold bitcoin they got afraid and start panic sell of Bitcoin. For this in last some days Bitcoin price going to decrease. But for this you doesn't tell that tesla destroyed Bitcoin. Bitcoin is a Crypto currency. Its price can up and down any time. This is normal. I think bitcoin price will increase agian when people stop panic sell.

[Miaallen]

The mess we're currently in is his creation because of his beliefs that he is the sole decider of what happens in the Cryptocurrency community of the late. If not so, how can he be bragging of developing DOGE in abandonment of Bitcoin which we all know as the father of crypto.
Now, the DOGE he thought would be his safe haven is now gradually getting back to its starting point.

[pinggoki]

To be honest, I am seeing you as new here because of the little dip in the market and yet you are worrying so much. All of the pioneers and veterans here in the forum are already used to on a little dip in the market. If you are not full confident on your investments then you can get out on the investment and if you are not that risk taker then probably this industry is not for you. Make a practice that whenever you are entering here you must ready on what would be the possible consequences of investing in crypto.

[KaliLinux]

To be honest, I am seeing you as new here because of the little dip in the market and yet you are worrying so much. All of the pioneers and veterans here in the forum are already used to on a little dip in the market. If you are not full confident on your investments then you can get out on the investment and if you are not that risk taker then probably this industry is not for you. Make a practice that whenever you are entering here you must ready on what would be the possible consequences of investing in crypto.

I agree with you too and I think s/he is new to crypto space and do not understand that this is normal with the cryptocurrency market. You must have done some research on how this market operates before investing to understand that there will be days like this but there will always be a bounce-back sooner or later, that's a given.

[DatKing]

I wonder whether Tesla will decide to start Bitcoin payments again after a not very long time. Because Elon Musk was so wrong about Bitcoin mining. But I'm sure that he also knew the truth. After drawing too much attention to himself, maybe he can decide to reverse things after some time.

[hazenyc]

Why then did Bitcoin literally crash after his post that Tesla won't accept Bitcoin anymore? Isn't that manipulation per definition? I would say so.

Why do people get manipulated so easily? Bitcoin is not about Tesla. Ok, people no longer can buy car with a Bitcoin. So was? Not everyone dreamed to do it. This is not a manipulation, but herd instinct. One dumb started making big deal from it, other pumped that, which caused to a panic sale. I dont even think that many has bought tesla using Bitcoin. From my point of view, this is not a manipulation, but shortsightedness of some individuals.

I am with you in this regard, people shouldn't be as easily manipulated. Though we hav seen over and over again that it does happen and I am sure Musk knew what could and most likely will happen if he makes that Tweet. Those who were short on Bitcoin made a fortune.

[SacriFries11]

I think it’s definitely NO. I agree with the decision of Tesla not to accept Bitcoin as mode of payment to their company. Tesla is very concern about the environment so they use electric instead of fuel which is future of the cars. It didn’t destroy it in fact we should be grateful that Tesla are very committed to their goal to save the earth and I’m sure they will find alternative way to resolve the environmental concern of Bitcoin.

[mindrust]

Is Tesla to blame for this? Or is it really something else?

Probably Elon&Tesla are not alone in this. The bad news came one after another. The IRS stuff and China ban happened right after Elon. He probably knew what was about to come and maybe he tried to warn people. I can't really tell. Or maybe he just didn't care at all.

[mrongoz22]

Tesla and Elon Musk destroy bitcoin, for now just let him play hide and seek ,, because I am very confident that in the future he will definitely adopt bitcoin again, and will come back to accept bitcoin, and elon musk will definitely tweet positive things about bitcoin ..

[impulse709]

Tesla and Elon can't destroy Bitcoin. Impossible. Few days we are witnessing a red market. Fuds are constantly given. Not only Tesla,I guess sharks are disturbing the market to collect BTC at the best price. be patient,don't panic sell.

[iwantmyhomepaidwithbtc]

Tesla and Elon can't destroy Bitcoin. Impossible. Few days we are witnessing a red market. Fuds are constantly given. Not only Tesla,I guess sharks are disturbing the market to collect BTC at the best price. be patient,don't panic sell.

I approve this.

Everything is said

[Mr.sprin]

It is true that today the red market, the price of BTC has dropped dramatically and other Alcoins have also dropped. This is a great opportunity to want to invest in bitcoin or alcoin which has the potential to like coin eth and binance I am sure in the future the market will recover.

[Zilon]

Tesla only succeeded in causing a dip fall in Bitcoin price but can't distroy Bitcoin completely. News plays a big role market price of any commodity. Tesla halting the use of Bitcoin in it's industry had a very big impact on Bitcoin price but if a positive news poops up or everything goes back to normal after a long while Bitcoin would certainly regain back it momentum and rise back even though not with much profit it might likely go back to do a retest on it's previous highest point so far based on market capitalization

[Nunoluck]

Bitcoin don't need Tesla, but world need bitcoin. Today, technology become more advance and online or virtual payment is very needed. If Tesla don't accept bitcoin then Tesla loss their potential customers from cryptocurrency community which is keep growing everyday. Actually, for me the recent situation of bitcoin market is not so bad, panic selling and panic buying are frequently happen. The positive thing is we can buy bitcoin at lower price.