Tesla stops car purchases with Bitcoin

[AicecreaME]

Bitcoin is not harming the environment at all, what an audacity they have to say such thing like that when they know that the biggest pollutants here on earth are us, humans. Before Bitcoin mining, there are literal mining that has been and still going on which literally damage the earth just to dig up minerals and precious stones, so I don't know why they are so bitter in Bitcoin mining.

I think Tesla is just manipulating the market, and for sure they bought a lot of Bitcoin on the dip and they will announce again that they changed their mind and will still accept Bitcoin as a payment on their cars, what a strategy.

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[arwin100]

Bitcoin is not harming the environment at all, what an audacity they have to say such thing like that when they know that the biggest pollutants here on earth are us, humans. Before Bitcoin mining, there are literal mining that has been and still going on which literally damage the earth just to dig up minerals and precious stones, so I don't know why they are so bitter in Bitcoin mining.

I think Tesla is just manipulating the market, and for sure they bought a lot of Bitcoin on the dip and they will announce again that they changed their mind and will still accept Bitcoin as a payment on their cars, what a strategy.

Tesla has clear intention to manipulate the market but unfortunately Musk failed his announcement of eliminating bitcoins on their payment option didn't succeed, Many big whales didn't support his announcement thats why we see bitcoin slowly recovering up. Maybe its time not to listen with elon since its so clear that he only care about his profits and not the adoption of bitcoins also its technology.

[conected]

Bitcoin is not harming the environment at all, what an audacity they have to say such thing like that when they know that the biggest pollutants here on earth are us, humans. Before Bitcoin mining, there are literal mining that has been and still going on which literally damage the earth just to dig up minerals and precious stones, so I don't know why they are so bitter in Bitcoin mining.

I think Tesla is just manipulating the market, and for sure they bought a lot of Bitcoin on the dip and they will announce again that they changed their mind and will still accept Bitcoin as a payment on their cars, what a strategy.

Tesla has clear intention to manipulate the market but unfortunately Musk failed his announcement of eliminating bitcoins on their payment option didn't succeed, Many big whales didn't support his announcement thats why we see bitcoin slowly recovering up. Maybe its time not to listen with elon since its so clear that he only care about his profits and not the adoption of bitcoins also its technology.

- I feel that Elon Musk has no failure here as his company seems to have liquidated most of the bitcoin at a relatively nice price, the price of bitcoin going into the state as it is right now is also his contribution, maybe many people say not in favor of Elon Musk but inside, they're probably having fun with this accumulative opportunity. Getting rid of bitcoin is probably a long calculated plan, only naive people like us believe in Tesla's backing while bitcoin is illegal

[cute nmp]

The main reason as said by Elon musk himself is to preserve the environment as Bitcoin mining is causing adeverse effect to the environment and can contribute to climate changes.The good news it that they are not selling their bitcoin which was bought some months back had it they did then the dump will be much more worse than this.

[jaberwock]

It is always funny to see people who have absolutely ran away from crypto just because tesla shared some news Lol that was so funny. Look at the market now, it is doing fine, BTC is down I will give you that, but weekly ETH is 13% up, BNB is only 4% down, ADA doing 15%+ profit, there are others who all have been fine.

I mean I get that people got scared but I do not get why? I mean tesla wasn't the bitcoin creator, they aren't even around that much, it was funny all around. Thankfully I ended up with just enough to buy during this period, I didn't had any money at all, but I was part of a project and they paid me a tiny bit recently (just 100$) and I was keeping it in dollars because I will have to spend it, I do not have much money unfortunately these days, but I took a risk and since that was money I didn't expected, I just put it in BNB at 560 dollars, and now it is over 600 dollars, I made a good return! Very happy about it.

[arallmuus]

The main reason as said by Elon musk himself is to preserve the environment as Bitcoin mining is causing adeverse effect to the environment and can contribute to climate changes.

The majority of large bitcoin mining operations are using renewable energy otherwise it would be suficient to support those rigs so his excuse about this energy issue is showing that he does not research it at all before he / Tesla made that decision

The good news it that they are not selling their bitcoin which was bought some months back had it they did then the dump will be much more worse than this.

He can say whatever he wants but sooner or later Tesla will sell their bitcoins. Tesla is not here is to stay in the crypto space and crypto is nothing more then cash generator for the company

I mean I get that people got scared but I do not get why? I mean tesla wasn't the bitcoin creator

Same thing on why people are FOMO because Elon tweeted Doge. Elon has nothing to do with Doge tbh

[just_Alice]

I think that it was just a suspension so technically they are still going to back at it anytime soon. That's pretty influential to have the prices drop because of their suspension though but I think that this is just a temporary price drop since Tesla didn't sold their bitcoins.

Bitcoin does not depend on Tesla or Elon, we should know that. Only what will happen will be just temporary just as Lorence.xD commented. Bitcoin does not depend on anyone.

That wasn't my point, I didn't say Musk controls Bitcoin or that it depends on anyone, I know it utilizes a PoW consensus algorithm. However, this doesn't contradict with the fact, that the price of Bitcoin can decrease as a result of the increased volume of bitcoin sold and due to negative press, this is just how any market functions, there's no denying it.
Of course, this is only temporary and the price will stabilize within, my guess, around 2 weeks (if nothing unexpected happens again), but what we are seeing now are the consequences of his actions.

[zanezane]

It is always funny to see people who have absolutely ran away from crypto just because tesla shared some news Lol that was so funny. Look at the market now, it is doing fine, BTC is down I will give you that, but weekly ETH is 13% up, BNB is only 4% down, ADA doing 15%+ profit, there are others who all have been fine.

That's what I don't get, why run away over a news that isn't even a big deal in the first place, they didn't sell their bitcoin, they just suspended the purchasing of their cars using bitcoin but they are still afraid that one thing would lead to another thing but that wasn't the case, now they have to buy back at a loss since they sold at low profit.

[jaberwock]

It is always funny to see people who have absolutely ran away from crypto just because tesla shared some news Lol that was so funny. Look at the market now, it is doing fine, BTC is down I will give you that, but weekly ETH is 13% up, BNB is only 4% down, ADA doing 15%+ profit, there are others who all have been fine.

That's what I don't get, why run away over a news that isn't even a big deal in the first place, they didn't sell their bitcoin, they just suspended the purchasing of their cars using bitcoin but they are still afraid that one thing would lead to another thing but that wasn't the case, now they have to buy back at a loss since they sold at low profit.

Well, because they do not know what they are doing and they have absolutely no opinion of their own so they act according to what someone else tells them. There are thousands of people who buy signals or copy trade or just follows people on twitter, maybe even over a million people all around the world who does the same thing, they just follow others that share tips on what to buy and where to buy and where to sell and others follow them and make the same trades.

I have seen too many "crypto influencers" who are sharing trading information and when people make money they are great and when people lose money they are terrible people. Long story short Elon was at the top of that list, he is the most known person to do this and whenever he says something good the price goes up and whenever he says something bad it goes down because there are idiots out there who can't make their own decisions and trade based on what Elon tweets.

[Issa56]

I see no reason why Elon musk will stop accepting bitcoin, from the very first day I saw his tweet on Twitter I know Elon musk joining cryptocurrency is not a really good idea he knows his influence is very massive and he believes when he stop accepting bitcoin it will definitely dump the price of bitcoin which that is what united state of America president really want I believe there are just trying to use Elon musk to bring down or to dump bitcoin price which is currently happening already nobody knows what he will definitely say next and nobody knows what the United state will say next which might even dump bitcoin price more

[Sithara007]

That's what I don't get, why run away over a news that isn't even a big deal in the first place, they didn't sell their bitcoin, they just suspended the purchasing of their cars using bitcoin but they are still afraid that one thing would lead to another thing but that wasn't the case, now they have to buy back at a loss since they sold at low profit.

This is just pure market manipulation. Tesla sold a large part of their Bitcoin stash, before Elon made these manipulative tweets. I don't know whether they are going to purchase more BTC from the market at low levels, but there is a strong chance of that happening. And the best thing for Tesla is that they don't have to pay much tax on these profits, as their overall business is still in loss. BTW, it is now unethical for Tesla to continue to hold on to BTC, since Elon himself has come against it. 

[maye5104]

Is it the only reason why Bitcoin is going down right now?

[bryant.coleman]

Is it the only reason why Bitcoin is going down right now?

Nope. The main concern now is the ongoing investigation in the United States against Binance. Both the Internal Revenue Service (IRS) and Justice Department are reported to be collecting information specific to Binance in preparation for a lawsuit. This was sort of expected, after Janet Yellen had her meltdown a few weeks ago. Even last year, I had warned everyone here that Democrats are much more of a threat when compared to the Republicans as far as cryptocurrency is concerned. And my prediction is being proven right. 

[KaliLinux]

I think that it was just a suspension so technically they are still going to back at it anytime soon. That's pretty influential to have the prices drop because of their suspension though but I think that this is just a temporary price drop since Tesla didn't sold their bitcoins.

Elon Musk is a business guy and he will use every means necessary to make profits and I don't believe that they will make a move like this which they know will negatively affect the price of Bitcoin and don't sell before that stunt was pulled even if they never said they did. What is most important to me is that regardless of what happened to the price, we will definitely see a re-bounce of the price.

[Silberman]

Long term speaking I don't f******* care about what Elon says, nonetheless I'm very much pissed off by the the words of a guy who is clearly allowing a huge market manipulation which will go without consequences. The guys should shut up and avoid saying one thing today and another the day after.
I repeat, no concerns long term, for what it's worth he can sell everything the market will buy given the supply shortage.

For someone that is supposedly a genius I never thought I will see so many dumb moves, I really think he is trying to manipulate the market and this is a problem as I have no doubt that if this continues and he keeps being that obvious then eventually he is going to face a few lawsuits, I say this because posting a few memes is fine and should not be considered an attempt to manipulate the market but announcing that your company is accepting bitcoin and then one month later it does not seems like an attempt of manipulation to me.

[Botnake]

Long term speaking I don't f******* care about what Elon says, nonetheless I'm very much pissed off by the the words of a guy who is clearly allowing a huge market manipulation which will go without consequences. The guys should shut up and avoid saying one thing today and another the day after.
I repeat, no concerns long term, for what it's worth he can sell everything the market will buy given the supply shortage.

For someone that is supposedly a genius I never thought I will see so many dumb moves, I really think he is trying to manipulate the market and this is a problem as I have no doubt that if this continues and he keeps being that obvious then eventually he is going to face a few lawsuits, I say this because posting a few memes is fine and should not be considered an attempt to manipulate the market but announcing that your company is accepting bitcoin and then one month later it does not seems like an attempt of manipulation to me.

They already know it from the very start, their reason for not accepting bitcoin anymore is just unreasonable, so you are right, this is just a pure manipulation as they have already profited on bitcoin and their altcoins investment and they know it's due for the dump.

Maybe by the next bull run they are already preparing for something big to influence the market again, but hopefully, we will not anymore fall on that kind of hype, let the market grow in its natural way as that would result in a stronger foundation.

[disconnectme]

There are many speculations out there why Tesla stops accepting BTC.

1. People are not buying or Booking for cars and willing to pay with BTC, it is stupid to pay BTC when you are sure the price will go up in future.

2. Is that Tesla is looking for Government fund and with all these noise around environment and Climate change and what Tesla and Bitcoin stands for, the company need to take a stand

[jostorres]

Your thoughts on this? Are cryptocurrencies, and, in particular, Bitcoin, that harming to the environment when compared to cash? Or is this just an excuse for screwing people over?

Seriously I don't know you people like to worry about things like this. First thing you have to understand is that this community has been around for years without Tesla accepting Bitcoin as a payment method. And moreover the price drop isn't because Tesla is not accepting Bitcoin, whether they are accepting it or not, the price was still going to drop, so you're just making an assumption which you're not sure.

If I can remember, it hasn't been long that Tesla started accepting Bitcoin as a payment on their platform. It's just like Amazon, a lot of people wishes for them to be accepting Bitcoin, imagine if they do that and eventually price goes up days, weeks, months, or even years later, some people are going to say that it is because of them that the price went up. With or without all these big companies and institutions, prices will still grow.

[Bitstar_coin]

It is always funny to see people who have absolutely ran away from crypto just because tesla shared some news Lol that was so funny. Look at the market now, it is doing fine, BTC is down I will give you that, but weekly ETH is 13% up, BNB is only 4% down, ADA doing 15%+ profit, there are others who all have been fine.

I mean I get that people got scared but I do not get why? I mean tesla wasn't the bitcoin creator, they aren't even around that much, it was funny all around. Thankfully I ended up with just enough to buy during this period, I didn't had any money at all, but I was part of a project and they paid me a tiny bit recently (just 100$) and I was keeping it in dollars because I will have to spend it, I do not have much money unfortunately these days, but I took a risk and since that was money I didn't expected, I just put it in BNB at 560 dollars, and now it is over 600 dollars, I made a good return! Very happy about it.

Yeah those type of people can't make decisions on their on reason why they are prone to losing money, btc has already proven itself to be strong and contending asset in the face of all difficulties, Elon and Tesla are not the big names that invest in btc, if he decides to dump like scared boy he is welcome to do so, his fud will gradually fade away and things will return back to normal.

[awik p]

It is always funny to see people who have absolutely ran away from crypto just because tesla shared some news Lol that was so funny. Look at the market now, it is doing fine, BTC is down I will give you that, but weekly ETH is 13% up, BNB is only 4% down, ADA doing 15%+ profit, there are others who all have been fine.

I mean I get that people got scared but I do not get why? I mean tesla wasn't the bitcoin creator, they aren't even around that much, it was funny all around. Thankfully I ended up with just enough to buy during this period, I didn't had any money at all, but I was part of a project and they paid me a tiny bit recently (just 100$) and I was keeping it in dollars because I will have to spend it, I do not have much money unfortunately these days, but I took a risk and since that was money I didn't expected, I just put it in BNB at 560 dollars, and now it is over 600 dollars, I made a good return! Very happy about it.

Yeah those type of people can't make decisions on their on reason why they are prone to losing money, btc has already proven itself to be strong and contending asset in the face of all difficulties, Elon and Tesla are not the big names that invest in btc, if he decides to dump like scared boy he is welcome to do so, his fud will gradually fade away and things will return back to normal.

I think right now they are only looking to profit from bitcoin to run their original business. we know they made the news about bitcoin, and now they are going away from bitcoin. in essence they are already making huge profits from bitcoin