Reactions From Musk's Bitcoin criticism

[CryptocurencyKing]

Reactions to Critics

Musk who has been the driving force and crypto figure for Bitcoin and Dogecoin lately, made a critic statement of bitcoin not being environmental friendly and the market experienced a little crash. This has raised so controversial beliefs in Musk, Cryptos and sole amazing reactions as well. Some of it are;

Source: https://decrypt.co/70878/microstrategy-buys-15-million-bitcoin-rejects-elon-musks-bitcoin-criticism?utm_source=reddit&utm_medium=social&utm_campaign=sm

Source: https://twitter.com/trylolli/status/1392607697501974528?s=19

There are lots of responses out there and your free to paste one as a comment or response so that, we can deduce a similarity from the various responses and be able to learn from them. Better still, to fine the opportunity in them and know how to utilise it for your gains. One basic similarity you could find between these two responses is that:

Similarities
1. They both come as a reaction to some critic statement on bitcoin
2. They provide a buying opportunity. As you can notice, they both emphasise on some possible investment at the dip.
3. There is an opportunity in the tace of chaos, you just have to fine
4. It's another way of pumping new money into the market to make some gains.

You can find a lot of ways to benefit from news such as these. A lot of persons have been waiting on the dump and how to determine he possibility of a dump. Well, here they both are and it stands a lesson to all because, it would happen again and perhaps, from a different perspective this time.

[1714062418]

1714062418

[Tytanowy Janusz]

The longer i think about it the more convinced I am that it was a paid FUD. Paid by market operators (AKA market manipulators) to whipe out long positions with as little cost as it is possible. I (and not only me) expected a massive dump before another leg up just from technical point of view even without this "news". "news' that everyone knew about. I cant imagine a investor that invested in bitcoin not knowing the fact that it consumes as much energy as whole country. So as I don't believe that Musk nought bitcoin, was shilling bitcoin for months and finally did research yesterday and changed his decision XD. He is not that stupid...

Yesterday we also had fake binance FUD:

"BREAKING: Binance, the world's biggest crypto exchange, is under investigation by the Justice Department and IRS https://trib.al/tXGMWBT"
https://twitter.com/crypto/status/1392888177363406852

While the true is:

"The "news" title is bad. Article itself isn't so bad actually (but who reads). It described how
 collaborated with law enforcement agencies to fight bad players, but somehow made it look like a bad thing... Thinking face Anyways. Back to work."
https://twitter.com/cz_binance

I like to call it "bullish FUD". Moon soon.

[20kevin20]

Is it far-fetched for Musk to play this out so that he'd be able to purchase BTC after acting like he had no idea how much less BTC really consumes/pollutes compared to all those stories online? It surely does seem like a plan of his to buy more. At this point, the SEC should come out and start striking him for real because this is evident manipulation...

[Streets 2.0]

Greed is a permanent category that has always been. Bitcoin is just another example of how a person quickly goes crazy when something in his hands quickly rises in value. It's like a gold rush, as we remember then, most of the money was earned not by those who were looking for gold, but by those who sold them shovels. I think that similar analogies can be made here too. You need to calmly treat any type of earnings, especially if it is an investment.

[mk4]

Is it far-fetched for Musk to play this out so that he'd be able to purchase BTC after acting like he had no idea how much less BTC really consumes/pollutes compared to all those stories online? It surely does seem like a plan of his to buy more. At this point, the SEC should come out and start striking him for real because this is evident manipulation...

While I'm sure there's an agenda here, but I doubt it would be that one. If his actions were actually to pump/dump the price so he could buy/sell, then he's going to get screwed over by the SEC. And since I don't think Elon's actually stupid, and since Tesla is a large company, I totally doubt it's the latter.

[Nightz]

Is it far-fetched for Musk to play this out so that he'd be able to purchase BTC after acting like he had no idea how much less BTC really consumes/pollutes compared to all those stories online? It surely does seem like a plan of his to buy more. At this point, the SEC should come out and start striking him for real because this is evident manipulation...

While I'm sure there's an agenda here, but I doubt it would be that one. If his actions were actually to pump/dump the price so he could buy/sell, then he's going to get screwed over by the SEC. And since I don't think Elon's actually stupid, and since Tesla is a large company, I totally doubt it's the latter.

I agree, but the big question mark remains... What the heck is the agenda then? Because there is no way he hasn't known about any of the issues mentioned in his post. It's like a puzzle, it is just weird. You'd expect him to do almost any weird thing, but that was weird weird.

[ReiMomo]

The only difference between them is that Elon Musk is richer in papers and also more influential to him. But honestly, I find Elon Musk now as someone that has disappointed me. He hurt my heart in a way that he is becoming more and more hypocritical and unreasonable.

He tells that bitcoin costs a lot of energy that ruins nature without realizing that miners are now using renewable resources to save from the mining cost and helps reduce the coils being used to produce.

What about jumping into the topic where Congolese with their young labors mining cobalt for Elon Musk and definitely ruining nature? Can he tweet about it?

[livingfree]

It was reported that they've sold and then he has to buy back those sold bitcoins at a lower price then here he goes.

It's a market manipulation and we will get to see more from him and that's always brace yourselves. If you're aiming to accumulate more bitcoin then always be prepared with his scheme.

But if you want to join the ride with his doge, you choose.

[mk4]

I agree, but the big question mark remains... What the heck is the agenda then? Because there is no way he hasn't known about any of the issues mentioned in his post. It's like a puzzle, it is just weird. You'd expect him to do almost any weird thing, but that was weird weird.

One somewhat feasible theory I've heard is that Elon/Tesla is pretty much just virtue signalling to decrease their risks of not getting into some sort of big-deal environmental accreditation or something. I couldn't find the source unfortunately, but it's the most sort of "possible" reason out of all the theories I've read.

[nelson4lov]

Elon Musk is smart guy but I don't quite understand why he had to start that negative fud about Bitcoin that tanked the market this week. I know he's probably aware of the fact that majority of Bitcoin's POW miners use renewable energy sources to mine Bitcoin so the energy consumption isn't as high as Elon Musk said it was. What he did was to make it look like investing or supporting Bitcoinis a bad idea and that's why other prominent Bitcoin investors and Maximalists had to step in to protect their bags. The funny thing about this is that even doge coin that Elon constantly promotes compared to Bitcoin also consumes energy at a very significant rate. Tesla is still hold 90% of the Bitcoins though. That's something to keep in mind.

[CaVO32]

Elon Musk is smart guy but I don't quite understand why he had to start that negative fud about Bitcoin that tanked the market this week. I know he's probably aware of the fact that majority of Bitcoin's POW miners use renewable energy sources to mine Bitcoin so the energy consumption isn't as high as Elon Musk said it was. What he did was to make it look like investing or supporting Bitcoinis a bad idea and that's why other prominent Bitcoin investors and Maximalists had to step in to protect their bags. The funny thing about this is that even doge coin that Elon constantly promotes compared to Bitcoin also consumes energy at a very significant rate. Tesla is still hold 90% of the Bitcoins though. That's something to keep in mind.

I believe, Elon is pressured by these environmentalists calling out bitcoin for damaging the environment. And because he wants to portray a good image, he temporarily suspended its acceptance. But it is good that he didn't sell the Tesla's bitcoins and instead just keep it. And now, he is going after for doge. We don't know what they will develop in doge. Are they going to deploy massive renewable source of energy on this project?

[Kemarit]

Is it far-fetched for Musk to play this out so that he'd be able to purchase BTC after acting like he had no idea how much less BTC really consumes/pollutes compared to all those stories online? It surely does seem like a plan of his to buy more. At this point, the SEC should come out and start striking him for real because this is evident manipulation...

While I'm sure there's an agenda here, but I doubt it would be that one. If his actions were actually to pump/dump the price so he could buy/sell, then he's going to get screwed over by the SEC. And since I don't think Elon's actually stupid, and since Tesla is a large company, I totally doubt it's the latter.

I agree, but the big question mark remains... What the heck is the agenda then? Because there is no way he hasn't known about any of the issues mentioned in his post. It's like a puzzle, it is just weird. You'd expect him to do almost any weird thing, but that was weird weird.

I can only think of one agenda: His solar panels which are going to be sold in bundles.

So he attacks bitcoin effect and the electricity it consumes and on the other hand he predicts a success of his next product. It might be weird in the beginning, but we can see the puzzle here. And who knows, maybe later he will chance his stance on this.

[cabron]

Is it far-fetched for Musk to play this out so that he'd be able to purchase BTC after acting like he had no idea how much less BTC really consumes/pollutes compared to all those stories online? It surely does seem like a plan of his to buy more. At this point, the SEC should come out and start striking him for real because this is evident manipulation...

While I'm sure there's an agenda here, but I doubt it would be that one. If his actions were actually to pump/dump the price so he could buy/sell, then he's going to get screwed over by the SEC. And since I don't think Elon's actually stupid, and since Tesla is a large company, I totally doubt it's the latter.

I agree, but the big question mark remains... What the heck is the agenda then? Because there is no way he hasn't known about any of the issues mentioned in his post. It's like a puzzle, it is just weird. You'd expect him to do almost any weird thing, but that was weird weird.

I can only think of one agenda: His solar panels which are going to be sold in bundles.

So he attacks bitcoin effect and the electricity it consumes and on the other hand he predicts a success of his next product. It might be weird in the beginning, but we can see the puzzle here. And who knows, maybe later he will chance his stance on this.

So he has solar panel products? No wonder.

This time he is working with Doge developer, it would really be good to see the dev team refuse him but I guess he already bought the team. Saylor is grateful to his fud though, it's a buying opportunity for the institutions but the cryptocommunity hates the lies he spread.

[Mpamaegbu]

Whenever I read negative stuff about Elon Musk I remember a certain John McAfee (the antivirus dude turned crypto publicist. I believe John is still behind bars). But I know Elon is more clever than John and wouldn't condescend to doing anything that will drag him through the mire and tarnish his name. For crying out loud, Elon is a man of wealth with global influence and this we shouldn't overlook. Certainly, there will be those who would be envious of all that he has achieved and would want to drag him along negative news. Come to think of it, his support for Doge and BTC can't be jettisoned. Those who criticize him must be doing so to score cheap points.

[Darker45]

Elon's decision was founded upon a legitimate concern, the environment. He may have been a hypocrite in calling the shot, and I believe he truly is. He may have been misinformed or probably lacked all the statistics and data to support the reason behind his decision. In other words, he may have been wrong all along.

But I guess the best response would have been to inform him, enlighten him, prove him wrong, or perhaps defend Bitcoin's use of a huge amount of energy. However, the most common reactions among the critics are also sorely amiss. One says she/he's cancelling his/her Tesla order. Another says Elon is his/her hero no more. One posted a photo of a burning Tesla. Another says he/she's now going back to using fuel-powered car. Why all the bitter emotional reactions?

[tinopener]

I reckon Elon Musk simply has too much on his plate with Tesla, SpaceX, Bitcoin and the media.

He obviously needs to blow off steam, and his joking around with Dogecoin shows that. Even though it's a bit hypocritical as Dogecoin is energy intensive.

He can't go on living at 1000mph for ever, so he will have to slow down and relax and hopefully stop throwing his opinions around for fun.

[tbct_mt2]

The response from MicroStrategy is perfect. It at least reminds people that the Bitcoin market can not be manipulate by only Elon Musk. There are many more institutes in the market have bought and will buy Bitcoin.

MicroStrategy is one of them and is the biggest one. You can see how big MicroStrategy investment is by compare it to Tesla investment. BitcoinTreasuries

His tweets mean nothing if people don't over value him and his tweets. Why Tesla is important for Bitcoin? There are and will be more institutional investments. The capital investment from Tesla can be done with another or a few other institutes.

Bitcoin adoption won't be changed much by Tesla and people were cheated by Elon and Tesla. Will Elon come back and say after months of research, he sees is the best and Tesla will accept Bitcoin again. It will be funny.

[Lorence.xD]

Certainly, there will be those who would be envious of all that he has achieved and would want to drag him along negative news. Come to think of it, his support for Doge and BTC can't be jettisoned. Those who criticize him must be doing so to score cheap points.

That's exactly what the other users have been doing against Musk when he suspended the bitcoin option as a payment for a Tesla as if doing that is going to do anything good to them or to the market.

[so98nn]

Is it far-fetched for Musk to play this out so that he'd be able to purchase BTC after acting like he had no idea how much less BTC really consumes/pollutes compared to all those stories online? It surely does seem like a plan of his to buy more. At this point, the SEC should come out and start striking him for real because this is evident manipulation...

While I'm sure there's an agenda here, but I doubt it would be that one. If his actions were actually to pump/dump the price so he could buy/sell, then he's going to get screwed over by the SEC. And since I don't think Elon's actually stupid, and since Tesla is a large company, I totally doubt it's the latter.

I am not sure what's going on in the crypto market right now but things are not the same as before. It was all about bitcoin in the earlier days and suddenly Elon has turned everything upside down. Loosing 10-25% from the market is not a joke tbh. This mega change is due to the fact that Elon holds most of the power in his hand to change the course of crypto.

SEC can't do anything. Elon have not done anything intentionally or at least this emotion can not be proven. He is a free guy and can decide whether to invest in BTC or DOGE. It's all right if he changed his mindset to shitcoins.

That does not count for SEC enquiry.

[raidarksword]

Elon Musk loves crypto buy I don't know what got to him he decided to make a stupid tweet that surely created a negative vibes towards the market which made many people got angry especially to investors. This is not the first time he did involved in such controversy that's why it's hard now to trust this guy. With Elon or not surely bitcoin will move forward to continue to rise up in the future.