🔥 WOW, Michael Saylor and Elon Musk, What do you think?

[Felimon]

Yesterday, Michael held a meeting between Elon Musk and the top #Bitcoin miners in North America. Mining companies have agreed to form a Bitcoin Mining Council to promote transparency in energy usage and accelerate green energy initiatives.

What do you think about this? It's really good news, it's Elon's next joke.

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[zanezane]

Wow, this is a big move for them and this could drastically reverse the effect of the Chinese ban on crypto related activities. I think that this kind of thing happening is going to be a good one because if it ever comes to fruition, we will see more miners in North America but at the same time, small miners would probably be affected by this.

[Poker Player]

Some people don't trust Saylor, and I don't trust him 100% either, just as I don't trust anyone 100%, but we must recognize that he is doing a great job for the adoption of Bitcoin. It is not that this work is disinterested, because he is all in with Bitcoin, but we must recognize that he is doing a good job.

Although there are some other things I don't like, like the message that you have to borrow to buy Bitcoin, which if misunderstood and adopted by the masses can lead us to the same problems we are trying to run away from.

[virtualdn]

I think it sucks and I'm very disappointed. BTC is becoming a rich man playground... I though this guy Saylor is different but after hanging with Elon Musk it doesn't seem so. Sad news. BTC is slowly becoming more centralized.

[Yogee]

Wow, this is a big move for them and this could drastically reverse the effect of the Chinese ban on crypto related activities. I think that this kind of thing happening is going to be a good one because if it ever comes to fruition, we will see more miners in North America but at the same time, small miners would probably be affected by this.

Let's say we see more miners in North America. What do you think will happen if the US Government started cracking down on these miners?

...I though this guy Saylor is different but after hanging with Elon Musk it doesn't seem so.

It was Saylor who taught Elon about the benefits of buying BTC but not about energy consumption apparently. There's nothing wrong with the initiative to increase green energy Bitcoin mining but that council with Elon in it sounds stupid.

[NeuroticFish]

While on the long term in can help Bitcoin mining stay sustainable even in the days the block reward will drop under the tx fees, I find it a rather cheap PR move, unless they would get to help miners acquire their own regenerable energy source.
I mean, if one look closer some 2/3 of the mining is OK (else it would be way too expensive too). And the rest of the miners didn't care and won't care.

[zanezane]

~

Let's say we see more miners in North America. What do you think will happen if the US Government started cracking down on these miners?

Wouldn't worry too much about it because US government is a corrupt government, they just call it lobbying so it doesn't really hurt that much. These powerful corporations can just pay for Senators to prevent cracking down on bitcoin.

[hatshepsut93]

This is pathetic, Saylor and miners are bowing to Elon as if he's some sort of Bitcoin king, while he even has less coins than Microstrategy. This just continues the the narrative that Elon's opinion is important and everyone should do what they can to please him. While this guy talks about "100x capacity 100x smaller fees" lol.

Maybe in a few years we'll have another Segwit2x-kind contentious fork, this time backed by Musk, Saylor and some miners to "save" Bitcoin from something.

[jesselui]

Elon musk manipulated, dropped bitcoin and is now trying to move bitcoin up. He collected all the coins at a cheap price. A truly unreliable person needs to be careful. This is a highly manipulative market.

[Lucius]

Elon musk manipulated, dropped bitcoin and is now trying to move bitcoin up. He collected all the coins at a cheap price. A truly unreliable person needs to be careful. This is a highly manipulative market.

If someone is guided by a simple “buy cheap, sell expensive” strategy, then this is one of the most likely scenarios in which the story slowly turns in the exact opposite direction. Yet EM and his Twitter exhibitions in this particular case of clean and dirty mining don't make much sense if the whole focus is only on miners in the US - and what about the rest of the world?

We are coming to some silly phase in which someone will probably analyze where the energy used by a particular mine pool came from - so EM will say that you can only buy a car with BTC that is mined only in specific mining farms - is this perhaps the beginning of some new coin that could have the name Bitcoin Green?

This is pathetic, Saylor and miners are bowing to Elon as if he's some sort of Bitcoin king, while he even has less coins than Microstrategy. This just continues the the narrative that Elon's opinion is important and everyone should do what they can to please him. While this guy talks about "100x capacity 100x smaller fees" lol.

Saylor obviously thinks he needs to convince EM that not everything is as black as he thinks it is - and that definitely affects his investment. If you have invested billions in BTC, then it is only logical to try to protect that investment in all possible ways - and that is exactly what Saylor is doing because he estimated that it is better not to let things go downhill without any control.

[LogitechMouse]

No effect on the market at all.
Or maybe there is a bit of an increase a few hours after the tweet but as of this moment, Bitcoin is going down again .

Some might say that this move by Elon Shit "again" will be the catalyst of the market going upwards but that isn't the case right now. One big positive tweet and you can bring good thing to the market but one big negative tweet will bring the market down and that is what Elon did and for sure most of the investors aren't listening to him anymore and that is a good thing. That would be better than you are hoping for just one influencer to tweet positive things and that will be the time that you will buy. Just unfortunate for those people who followed him and lost their money because of him too.

Whether it is Saylor or Musk or any institutions I don't want to follow them at all and considering that these institutions are holding a huge amount of Bitcoin, they can just dump all of their holdings anytime they want. On the other hand though, I commend what they are doing. This move by them might or might not help Bitcoin but.. yeah still a good thing.

[hatshepsut93]

Saylor obviously thinks he needs to convince EM that not everything is as black as he thinks it is - and that definitely affects his investment. If you have invested billions in BTC, then it is only logical to try to protect that investment in all possible ways - and that is exactly what Saylor is doing because he estimated that it is better not to let things go downhill without any control.

But this makes his investment more vulnerable to the whims of narcissist billionaire troll who could at any moment tweet "Bitcoin is overpriced" or some other FUD regardless of what's actually happening. Maybe it's a short-term boost to the price, but it's gonna be bad in the long run.

But I believe Bitcoin will emerge stronger when people would stop caring about what Elon or any other celebrity says.

[rkvishvam]

Forming a Mining Council is against to the de-centralization.

May be after one or two year later, we'll see this headline: 'BITCOIN MINERS ARE FORMING A GLOBALLY BITCOIN CENTRAL BANK'.

[Renampun]

Elon musk manipulated, dropped bitcoin and is now trying to move bitcoin up. He collected all the coins at a cheap price. A truly unreliable person needs to be careful. This is a highly manipulative market.

my predictions are the same as yours...

drive the Bitcoin price to fall then buy below to make a big profit again. Elon musk in the crypto only tries to manipulate the market, I personally like all of his innovations but I don't like him he pollutes the crypto market.

[tranthidung]

The cycle of manipulation will be like this

• A few first attempts: big effects
• The more repetitive attempts: less effects
• Then the market will not be shocked with those attempts from same person, nation, etc. It is so-called saturation effects.
• After a long time, when the market participants forget about those entities, they will appear and make shocks again.
• I meant manipulation effects will depend on when the power is used
• Targets of manipulations are newbies, not senior guys and in the market, we always have new newbies

[finaleshot2016]

Nah, it's not good news for me.

He should've done that before getting into crypto because he's one of the wealthiest men and can manipulate things. I agree with the other members that crypto is becoming more centralized, with whales able to play whenever they want. I started a thread about Elon Musk manipulating the market because I'm really disappointed, if you've noticed that he's not very responsible for his actions.

Furthermore, the majority of the miners are from China; how can that miner council be formed if even half of the miners in China do not participate? It's good news for some, BTC is pumping again, and everything is slowly returning, but in the grand scheme of things, it's a little concerning.

Yes, Tesla is still stashing bitcoin, but it's only a small percentage of their total asset, so i really hate the excuse of using Tesla to make people believe that he truly supports it, when in reality, he's just waiting for a dip to buy again. The only thing I like about Elon Musk is that he's trying to promote a meme coin that will almost certainly make you an x2 profit like in defi trading, if it was promoted, it will give you money.

[Lorence.xD]

I think we need to be more careful and vigilant now.

I would agree but this kind of thing should've happened a long time ago when the institutional investors started pouring their money in. One thing I could say about this is that we are going to see the market go up again.

[verita1]

Honestly, I was looking forward to a meeting like this between Michael Saylor, Elon Musk or anyone who has a great interest in fixing the issue of bitcoin and its effects on the environment.

On the other hand, I would like to point out the following observation made by a user on Twitter.
It took just 6 minutes for Elon Musk to create the tweet informing that he had spoken with the American bitcoin miners so that the bitcoin market would try to raise the price.
We have become emotional investors and we are very attentive to the tweets of Elon Musk and the reactions of the FUD to overturn the crypto market.

Let's take a look at the tweet:

Everyone in the crypto market needs to stop reacting like this to some tweets

https://twitter.com/kevinsekniqi/status/1396916054564249602?s=19

[yazher]

Wow, this is a big move for them and this could drastically reverse the effect of the Chinese ban on crypto related activities. I think that this kind of thing happening is going to be a good one because if it ever comes to fruition, we will see more miners in North America but at the same time, small miners would probably be affected by this.

That's would be a good thing if they ever make that happened. I think Elon already knows these things a long time ago and the tweet he did a few days ago just to manipulate the price and now people will gonna buy again and he will gonna join them too privately I think. looks like the price has not yet back to $50,000 but as soon as this tweet will be a push to the media, you will see the price will rise again.