Elon Musk broke promise to restore Bitcoin payments for Tesla

[headingnorth]

Musk said he would restore acceptance of bitcoin for payment of Tesla vehicles when
bitcoin mining achieved 50% renewable energy use, which was reached more than a year ago.
But still no announcement from Musk.

Bitcoin mining’s green mile: 54.5% sustainable energy use
https://finance.yahoo.com/news/bitcoin-mining-green-mile-54-181636923.html

That article came out Jan. 2024 so by now could be close to 60% or more sustainable energy use.

Elon Musk announced Tesla accepting bitcoin payments in March 2021, only to suddenly
change his mind two months later in a shocking tweet that tanked the market overnight.
His excuse was environmental concerns. My question to Mr. Musk: Why didn't you think about that before
going forward with the bitcoin acceptance you dumbfuck? I think many of us may still have some PTSD from that day.

You can't trust anything this guy says. He seems to be bipolar and will change his mind on the slightest whim.
At the time I was planning to use some of my gains from bitcoin to buy my first Tesla but since that awful day
happened would never consider buying a Tesla again. Tesla sales tanked 70% last month so I think if Musk was smart
maybe now would be a good time to restore bitcoin payments to help boost tanking sales at a time when the company
could really use it, and bring back support from the bitcoin community.

But Musk is too preoccupied with his DOGE political BS to do anything useful for his sinking ship company.
And this clown wanted Tesla shareholders to give him a $50 billion compensation package??  
Of course they voted yes to his request so they must be even dumber then he is.

[Oshosondy]

Elon Musk accepted bitcoin to makes it loud when he wants to accept doge. He later removed bitcoin and said he wants to accept a coin that uses only 1% of bitcoin energy. He was only trying to promote doge and not have in mind to accept bitcoin. He was cunning  about it and thinks it is brilliance.

But do not worry, bitcoin does not need Elon Musk.

[headingnorth]

Elon Musk accepted bitcoin to makes it loud when he wants to accept doge. He later removed bitcoin and said he wants to accept a coin that uses only 1% of bitcoin energy. H

Of course Musk is full of shit because DOGE is proof of work just like bitcoin so uses similar amount of energy per transaction.
It uses less overall only because it is a much smaller network and handles much fewer transactions (difficulty adjustment is much lower, etc).

But do not worry, bitcoin does not need Elon Musk.

I agree. Bitcoin has learned its lesson and won't be fooled again by an idiot like Musk.  

[AVE5]

Musk said he would restore acceptance of bitcoin for payment of Tesla vehicles when
bitcoin mining achieved 50% renewable energy use, which was reached more than a year ago.
But still no announcement from Musk.

Sorry dude, bitcoin is a decentralized technology which may rely it potential performances on individual supports in the ecosystem. So, participating in the bitcoin network is a choice and not a duty call. Elon Musk is just an economist and an entrepreneur. So, don't expect every promises he'd utter towards the decentralized blockchain to be unfailingly. Perhaps he must have lately discovered some formidable attributes which enhances his fortitude regardless to the economy market behaviours.
Just saying that "he owe the bitcoin network no responsible obligation" tied on him. Besides the bitcoin network has been growing all these while. Even Trump who had made lot of promises to the bitcoin communities hasn't been able to redeem most of them but yet, bitcoin is surging incredibly and becoming a major challenge to the stock markets.

[OcTradism]

Musk said he would restore acceptance of bitcoin for payment of Tesla vehicles when
bitcoin mining achieved 50% renewable energy use, which was reached more than a year ago.
But still no announcement from Musk.

Bitcoin mining’s green mile: 54.5% sustainable energy use

Promise is promise and it can be executed practically or is a promise forever.

There are legal issues need to be taken into account by any business company with a new payment method. I believe that there are many reasons that forced Elon Musk removing Bitcoin as a payment method for Tesla's customers. It can be legal issues that perhaps controversial as Tesla actually added Bitcoin payment, then removed it.

Another possible reason is Tesla was attacked by the community that by adding Bitcoin to their payment system, they did advertisement for Bitcoin that is not environmental friendly and so on. As a business, you need best for it, not to debate and win against community and I believe that this way of thinking contributed to that decision from Elon Musk years ago.

Now, Tesla does not accept Bitcoin again, but in future they might do it. I don't feel it's necessary to be hurry about that.

[peter0425]

But do not worry, bitcoin does not need Elon Musk.

I agree. Bitcoin has learned its lesson and won't be fooled again by an idiot like Musk.  

It is not bitcoin that needs to learn a lesson but its investors. A lot of people are only here to take advantage of bitcoin which is not wrong per se but do not fall for their promises and seemingly genuine curiosity and interest lol. Just like Trump. We all knew he was only using bitcoin to get more votes and he succeeded. The thing we must do is just accept whatever they do regardless of their real intentions. If Trump uses bitcoin to keep the masses happy then let him. Though so far, both Trump and Elon Musk has been all talk and no action. This is what is infuriating. If only they kept their word, I couldn't care less if they wanted to take profit for themselves as well.

[Faisal2202]

But Musk is too preoccupied with his DOGE political BS to do anything useful for his sinking ship company.
And this clown wanted Tesla shareholders to give him a $50 billion compensation package??  
Of course they voted yes to his request so they must be even dumber then he is.

I won't judge him, if he don't want to be a hero for BTC enthusiasts then it is his choice. But not fulfilling promises that he made is not good BTW I did not know about this promise made by him and TBH it seems too dumb to me because the energy he used on all those test flights and disasters although they the results were good and company is doing great.

He at the moment is doing some crazy shits that will change the future and Nvidia is also doing some crazy shits with their hardwares that in no time we will see QC in general usage. I don't think allowing BTC to be used as payment for Tesla will increase any value to BTC, if you want to buy a Tesla, sell your BTC and buy it.

[headingnorth]

Musk said he would restore acceptance of bitcoin for payment of Tesla vehicles when
bitcoin mining achieved 50% renewable energy use, which was reached more than a year ago.
But still no announcement from Musk.

Bitcoin mining’s green mile: 54.5% sustainable energy use

There are legal issues need to be taken into account by any business company with a new payment method. I believe that there are many reasons that forced Elon Musk removing Bitcoin as a payment method for Tesla's customers. It can be legal issues that perhaps controversial as Tesla actually added Bitcoin payment, then removed it.

Musk should have taken into account potential legal issues before making such an important decision.
That is just common sense. That he did not consider such basic things beforehand shows he is too impulsive
and incompetent to run anything except maybe a 7-11.  

Remember when Musk signed a binding agreement to buy Twitter but suddenly changed
his mind and refused to do it like two weeks later? They had to sue him to force him to honor
the purchase agreement. What a nutcase!

[cryptomaniac_xxx]

Musk said he would restore acceptance of bitcoin for payment of Tesla vehicles when
bitcoin mining achieved 50% renewable energy use, which was reached more than a year ago.
But still no announcement from Musk.

Bitcoin mining’s green mile: 54.5% sustainable energy use

There are legal issues need to be taken into account by any business company with a new payment method. I believe that there are many reasons that forced Elon Musk removing Bitcoin as a payment method for Tesla's customers. It can be legal issues that perhaps controversial as Tesla actually added Bitcoin payment, then removed it.

Musk should have taken into account potential legal issues before making such an important decision.
That is just common sense. That he did not consider such basic things beforehand shows he is too impulsive
and incompetent to run anything except maybe a 7-11.  

Remember when Musk signed a binding agreement to buy Twitter but suddenly changed
his mind and refused to do it like two weeks later? They had to sue him to force him to honor
the purchase agreement. What a nutcase!

And with that, I don't think that he will make Bitcoin as a payment scheme for Tesla. I mean this has been forgotten already, although I will say that this is big news back then and it is one factor one Bitcoin went to $50k, in the last bull run, 2021.

But then suddenly pull it out, and putting Doge, causing Doge to go up in prices. But in any case we already see that Bitcoin was not affected, the effect was just short term and again, looking back, we achieved all time high at $69k, four years ago.

So just like what others have said, we are going to be fine even if Elon won't let Bitcoin as payment in his company.

[Sanitough]

Do you still even believe his statements? 
For all we know, he might already be cooking up something just to hype the market and slide in his next meme coin, lol.

But as for me, I believe Bitcoin adoption would still grow even without Elon Musk in the picture.
Especially now that big investors are already getting involved, that alone says a lot about where things are headed.

[Ruttoshi]

Elon is a man that you shouldn't believe anything he says because he's a business man and is after his own personal interests. Maybe, Doge owner met him to promote doge just like he did to bitcoin by accepting it as a payment method for Tesla, and he came out to give some fucking excuses of removing bitcoin from Tesla payment method and accepted doge.

You can see that Elon went ahead to create his own shitcoin because he his envious of bitcoin growth and believes that him Elon can influence his coin. Bitcoin is growing rapidly in adoption and price value so Elon is the one to decide where he will be.

[avp2306]

Elon is a man that you shouldn't believe anything he says because he's a business man and is after his own personal interests. Maybe, Doge owner met him to promote doge just like he did to bitcoin by accepting it as a payment method for Tesla, and he came out to give some fucking excuses of removing bitcoin from Tesla payment method and accepted doge.

You can see that Elon went ahead to create his own shitcoin because he his envious of bitcoin growth and believes that him Elon can influence his coin. Bitcoin is growing rapidly in adoption and price value so Elon is the one to decide where he will be.

He see a opportunity to add Bitcoin now since USA which he's working for became more adaptive on Bitcoin then its great advantage to grab the opportunity while everything is hot. But knowing Elon Musk he provably would drop Bitcoin later on again once he hit his target or secured a lot of profit again.

I'd rather believe on Michael Saylor than Musk since between them Saylor is more reliable dude compare to him. Musk is businessman and have a mindset to take always his profit that's why people should be more careful on possible future manipulative actions.

[reagansimms]

Elon Musk is the most hypocritical person I have ever seen, he is not really using Bitcoin for Tesla payments, but he is just riding on Bitcoin popularity to promote Doge. He used his big name to do all that, but people are starting to catch on to the game he's playing. But no matter what tricks are played, Bitcoin remains the largest asset and its price is increasing, so even without Elon Musk support, Bitcoin will continue to fly high.

[fuguebtc]

Does Bitcoin need Elon or Trump or any individual/organization to become popular and grow? No, it doesn't need any of those. So we don't need to care about their promises anymore.


Elon's influence on bitcoin is not as big as it was in the 2021 bull cycle, people no longer trust and pay attention to what he says after what he has done. I think it is unnecessary to discuss Elon's influence or his promises towards bitcoin anymore.

Bitcoin is now a US government reserve asset and has become too big, so any adoption of bitcoin will only benefit organizations and businesses, not just bitcoin itself. Therefore, we don't need to get too excited when any company/organization adopts it.

[Ronsbit]

Elon Musk is a businessman, and we should understand that and have a peaceful life because a businessman would do everything to get more customers and increase their profit at any cost, so Elon's actions are not a new thing in the business world. Moreover, now that he is a government appointee/official, he would say nothing about crypto till he leaves the office, and I believe this is the reason why he has not really looked into making any statement with respect to bitcoin acceptance in the purchase of his automobile.

Nevertheless, Bitcoin is not dependent on him to scale up, but rather him dependent on Bitcoin to make more sales because Bitcoin enthusiasts would want to purchase with Bitcoin if he accepts it, as that would increase his sales records. Besides, Bitcoin has long been in existence and has grown so strong before its interference, therefore, his actions and inactions do not and can never hinder the growth of Bitcoin.

[Maslate]

Bitcoin is now a US government reserve asset and has become too big, so any adoption of bitcoin will only benefit organizations and businesses, not just bitcoin itself. Therefore, we don't need to get too excited when any company/organization adopts it.

But that doesn’t mean there’ll be a shortage of supply, it’s just that with lower supply, the price tends to go up. That’s where we benefit.

And let's try to check the reality, Bitcoin isn’t meant for buying groceries or small stuff as it’s not that practical for daily use.

The real win here is that institutional investors are getting in. That shows trust and brings more strength and stability to the market.

[lovesmayfamilis]

I laugh when I see someone talking about Elon Musk's intelligence. Do you really doubt it, OP? May I ask in this case why you are not with Musk? It's time to accept the fact that this man is a rather original person who does not owe anything to anyone. And it is the public, looking into his mouth, making plans for his every sneeze. Those who understand this just watch him and do not expect anything serious. He can promise anything; he knows how to have fun manipulating the crowd. But whether you will be part of this crowd depends on you. Is he smart? Very smart. Is there at least one here who can joke like him?

[Rruchi man]

Musk said he would restore acceptance of bitcoin for payment of Tesla vehicles when
bitcoin mining achieved 50% renewable energy use, which was reached more than a year ago.
But still no announcement from Musk.

You should understand that it is his business, and he can choose to make decisions as he wishes. Who is going to hold him to it?

His refusal to restore acceptance of bitcoin as payment for his Tesla will not stop bitcoin from progressing in that line. When Bitcoin matures enough to now be used as payment for everyday items, it will happen; Elon Musk will not stop it.

[hd49728]

I laugh when I see someone talking about Elon Musk's intelligence. Do you really doubt it, OP? May I ask in this case why you are not with Musk? It's time to accept the fact that this man is a rather original person who does not owe anything to anyone. And it is the public, looking into his mouth, making plans for his every sneeze. Those who understand this just watch him and do not expect anything serious. He can promise anything; he knows how to have fun manipulating the crowd. But whether you will be part of this crowd depends on you. Is he smart? Very smart. Is there at least one here who can joke like him?

Celebrities like Elon Musk, John McAfee, Jamie Dimon and more are people who you can not trust their sayings and you can not depend on their sayings on how you manage your portfolio. It is true that they have huge followers and their sayings have massive noise so very likely considerable effects on the market crowd.

They can say anything they want but their sayings can be right or wrong and people must understand that they can learn about Bitcoin very easily with many resources, free access as well. When they have solid belief in Bitcoin, they will no longer be affected by Elon Musk or Jamie Dimon (John McAfee already passed away).

[thecodebear]

lol OP you actually expect Musk to be honest??

The guy is straight up crazy these days. He hasn't been sane since sometime last decade. And he is certainly no friend of Bitcoin. No idea why you would expect him to keep his word about anything. He's too busy being evil to bother with Bitcoin. He was never serious about Bitcoin either, he just likes manipulating markets, which is why he has always focused much more on Dogecoin than Bitcoin.

He had Tesla buy Bitcoin, and then randomly make that bizarre statement about Tesla not accepting Bitcoin anymore shortly afterward, which clearly had nothing to do with Bitcoin's renewable energy usage. Then he panicked and ended up selling most of Tesla's Bitcoin not long after. The Bitcoin community hasn't cared about Musk or Tesla for like 3 years at this point.

The only reason why Musk got into the Bitcoin/Crypto world in the first place was so he could find more people to manipulate.