Elon Musk broke promise to restore Bitcoin payments for Tesla

[criptoevangelista]

I have the impression that Elon Musk is kind of holding back a bit from participating in so many important matters. I mean, it seems like there's been a slowdown in his decisions, perhaps due to the global backlash he faced for actively engaging with Donald Trump's administration. He'll probably stay out of the spotlight for a while until he comes back with some new announcement related to finance, government, or things like that. I believe he might have gotten a bit worn out.

[nutildah]

I have bad news for you: he's broken a lot of promises before, and he'll do it again.

As a Dogecoin enthusiast, I was waiting for the day when he finally said that Dogecoin would be accepted for SpaceX merch. Unfortunately that day never came.

He seems to be good at one thing and one thing only: making money. He is, of course, utterly obsessed with it. So you just have to assume that everything he ever says or does is in pursuit of even more money.

[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.

Elon Musk is just an economist and an entrepreneur.

When did Elon Musk become an economist?
Do you also believe he is the best video game player in the world as he claimed?

As an entrepreneur Musk should know that accepting bitcoin could only benefit Tesla.
At the very least, it won't do any harm. Especially at a time when the regulatory environment
is much more favorable for bitcoin. The news would also cause the value of Tesla's bitcoin holdings to go higher.

Several large US companies have accepted bitcoin payments for years, including
Newegg and Shopify. Nothing bad ever happened to them for doing so even under Biden.

I never trust someone like Musk more than I can throw him, but from a business risk/reward perspective
it would make sense for Tesla to re-introduce bitcoin payments. But of course Musk doesn't have
any sense and forgot about Tesla years ago since taking on all kinds of nonsense distractions
like Twitter, politics, etc. His brain has been fried from years of heavy drug use.

Bitcoin is probably better off not being associated with a toxic, unpredictable tweeker like Musk.
Musk and the Tesla brand are fading fast and by now would do more harm than good for bitcoin.

[Raflesia]

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.

We already know it's possible for something like this to happen and it's not the first time she's made a decision like this, so why expect more from an influencer?
We know that from the beginning he talked about bitcoin only to create hype as well as several statements so that things like this were ultimately only used as a momentum so that he got a personal benefit for the treatment he did.

We should be aware and do not need to feel disappointed with something like this because they are influencers only trying to take advantage of the momentum for profit alone because they are aware that their followers are quite large and of course when this is maximized properly with the deadly remarks they make, there will be a lot of people who immediately believe and criticize them for profit alone. Regardless of whether this statement will become a reality or not they will not care too much about it.

[Richbased]

Sometimes, i do wonder why people are so interested in what comes out of the mouth of these influential people in the society, they are the worst set of people you can believe what they say. Some of them makes some statement just to influence their own business not necessarily that they care about what they say because one minute they say something and the next minute they are already acting as if they never said such a thing. People like Elon Musk and Donald Trump are more interested on coins they can influence and make more wealth from them instead of bitcoins just that since they know the impact that talking about bitcoin will make to them, that is why they always first come up with a trick of using bitcoin when their mind is on something different. Do not be deceived, Elon Musk is only interested in Doge coin for Tesla.

[sheenshane]

Bitcoin is probably better off not being associated with a toxic, unpredictable tweeker like Musk.
Musk and the Tesla brand are fading fast and by now would do more harm than good for bitcoin.

Bitcoin doesn't need Elon Musk if he doesn't want to.
We know that Elon only aimed to promote his favorite Dogecoin, not Bitcoin.
However, Musk has undeniably played an important role in drawing attention to Bitcoin and the crypto space, even if his influence is sometimes mixed.

IMO, the relationship between Bitcoin and Tesla is just one piece of the puzzle.
Bitcoin’s strength lies in its decentralized community and technology, which are far greater than any single personality like Elon Musk, we have nothing to do with that.  He doesn't have a mindset like the Mirostrategy company.

[Darker45]

Should we care? As for me, I don't. I don't care if he broke his promise. I don't even care if he accepts Bitcoin in the future or not. Does it even matter?

Besides, it's his company. It doesn't owe anything to Bitcoin. In return, Bitcoin doesn't owe anything to it. All's fair even if Tesla doesn't resume Bitcoin acceptance at all. I guess it won't affect its sales, anyway.

For me, it isn't an issue. Especially now, Bitcoin isn't short of indirect promoters and marketers. The only way is up.

[X-ray]

Him accepting bitcoin in the first place is probably just a marketing stunt LOL.

But do people really care about tesla accepting bitcoin? as far as I know tesla is being hated in the US and the sales are plummeting. Meanwhile even without tesla restoring bitcoin as payment bitcoin is still doing pretty damn well.

We're 100% fine even without them accepting bitcoin. No drama as well.

[headingnorth]

Elon Musk is only interested in Doge coin for Tesla.

The only thing you can buy with Doge is Tesla merchandise like shirts and coffee mugs, not Tesla vehicles.

Altcoins are better suited for someone like Elon Musk and those who suffer from ADHD attention deficit disorder,
as shitcoiners tend to do. They are constantly trading in and out of the latest shitcoin of the week until all their money is gone.
 

[Theupdude]

One moment Tesla’s accepting Bitcoin and the next everything crashes because Musk suddenly altered his mind. If the environment was such a significant worry he should’ve figured it out before making the statement in the first place. Now that Bitcoin mining is supposedly over 50 percent renewable, there’s really no clear reason not to bring it back, Tesla’s not doing great right now, and accepting Bitcoin again might actually help but Musk seems more focused on his own side projects and politics than fixing what’s going wrong with the company.

[GigaBit]

If someone invests by believing in Elon Musk's words, then he is definitely going to lose his wealth there. He is a big businessman, he can usually profit a lot from the sentiments of ordinary investors. Elon Musk will profit from those who believe them. If necessary, he will accept Bitcoin payments at Tesla and if he cannot benefit there, he will stop it. There were many initiatives with Dogecoin in his past. But later, when investors were able to understand his purpose, he stopped promoting Dogecoin regularly. They usually do whatever they do with their profit as a priority. No one should never invest based on his words.

[satscraper]

can't trust anything this guy says.

I stopped trusting this person a long time ago. His behavior is erratic ^{and frankly} to trust him would be to show the lack of self-respect. He seems primarily focused on mass manipulation ^{this also includes that hyped promise of Bitcoin payments for Tesla} with the ultimate goal of lining his pockets with more money. Thus, all his promises and actions have to be considered under such angle.

[sunsilk]

He's just doing things for the clout and for his personal sake, including the benefits for his companies like SpaceX and Tesla. I remember that when there was a time that his company bought 10k Bitcoins or something of that sort.

And then later on it was reported that the company has dumped all of their Bitcoins. He's only for his personal gain and whatever he speaks is not for the community but for his.

Don't be too hopeful with what he has said in the past, he's too busy with DOGE agency and I've heard that he's about to resign from that post any moment from now on.

[The Cryptovator]

Do you know why people actually love Bitcoin? Because it does help us to make money. In that case, Elon is making more money from Doge than Bitcoin. He doesn't like to adopt Bitcoin since he has been constantly making money from Doge. It's very easy for him to pump Doge instantly, but it's not very easy to make such profits from Bitcoin. Elon just needs money; really, he doesn't care about adoption, hence he refused Bitcoin payment for Tesla. The energy consumption is just a so-called reason to refuse.

However, it seems Bitcoin created an ATH without Elon. So I am not concerned either if Elon accepts it as payment or not. If he accepts, then it's better for us definitely, but if not, Bitcoin will grow the same way that doing now.

[Majestic-milf]

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.

I don't think tagging Elon Musk as a Bitcoin hero would be befitting because at the end of the day he's just a shrewd business man who would look for the best way to help his business. I made a post sometime back about him selling 75% of his Bitcoin holdings and saying it's because price was plummeting but in hindsight, he was doing it to promote DOGE. That means the guy just presented a platform where he could promote DOGE in peace but to achieve this he had to use Bitcoin.
 We all know now that Bitcoin is a force on its own and even if these big whales play a major role in it's growth, we won't say they can hold it's progress down just because they lose interest.

[Faisal2202]

I don't think tagging Elon Musk as a Bitcoin hero would be befitting because at the end of the day he's just a shrewd business man who would look for the best way to help his business. I made a post sometime back about him selling 75% of his Bitcoin holdings and saying it's because price was plummeting but in hindsight, he was doing it to promote DOGE. That means the guy just presented a platform where he could promote DOGE in peace but to achieve this he had to use Bitcoin.
 We all know now that Bitcoin is a force on its own and even if these big whales play a major role in it's growth, we won't say they can hold it's progress down just because they lose interest.

You see some people are when given more attention and fan following, these people at some point misuse it, for example, we all know MSTR by Michael Saylor, while he don't even hold 20% share of the company, according to Google he holds around 10% but those 10% are powerful. The point is, he is the main image of the company while he doesn't own it, owns only 10% of class B shares.

He is the main image for MSTR same, Elon is representing Doge and at some point I am 100% sure he will leave it, and that point will be when he will have created enough liqudity in that meme coin that could make him billions, although he is for now at least for 10 years max won't do such a thing IMO. He promoted many other small meme coins and dumped them in days, using his X account. He is not a trustworthy dude in crypto. I don't judge him, but we can take advantage of his actions if we want, because opportunity is still an opportunity, whover it is coming from.

[hero_the_bossman]

Do you know why people actually love Bitcoin? Because it does help us to make money. In that case, Elon is making more money from Doge than Bitcoin. He doesn't like to adopt Bitcoin since he has been constantly making money from Doge. It's very easy for him to pump Doge instantly, but it's not very easy to make such profits from Bitcoin. Elon just needs money; really, he doesn't care about adoption, hence he refused Bitcoin payment for Tesla. The energy consumption is just a so-called reason to refuse.

However, it seems Bitcoin created an ATH without Elon. So I am not concerned either if Elon accepts it as payment or not. If he accepts, then it's better for us definitely, but if not, Bitcoin will grow the same way that doing now.

Trump, Musk, and others - they can only affect the market.
They cannot control it, and whether they pump it or dump it in a short term, BTC will still prevail.

And we can be sure of it.

[DanWalker]

He's just doing things for the clout and for his personal sake, including the benefits for his companies like SpaceX and Tesla. I remember that when there was a time that his company bought 10k Bitcoins or something of that sort.

And then later on it was reported that the company has dumped all of their Bitcoins. He's only for his personal gain and whatever he speaks is not for the community but for his.

Don't be too hopeful with what he has said in the past, he's too busy with DOGE agency and I've heard that he's about to resign from that post any moment from now on.

Tesla bought about 43kBTC in 2021 at an average price of around $35,000. Then they start selling 10% of their BTC at the end of 2021 and over 75% at the beginning of 2022. Currently, according to reports from reliable sources, Tesla is still holding over 11kBTC, they did not sell all bitcoins as you said.

Not only Elon, we should not completely trust and put our expectations on anyone, including Trump or Saylor, because their ultimate goal when participating in the market is also profit. They are not here to do charity or become bitcoin heroes as they claim to be.


https://treasuries.bitbo.io/tesla/

[henry_of_skalitz]

Tesla bought about 43kBTC in 2021 at an average price of around $35,000. Then they start selling 10% of their BTC at the end of 2021 and over 75% at the beginning of 2022. Currently, according to reports from reliable sources, Tesla is still holding over 11kBTC, they did not sell all bitcoins as you said.

Not only Elon, we should not completely trust and put our expectations on anyone, including Trump or Saylor, because their ultimate goal when participating in the market is also profit. They are not here to do charity or become bitcoin heroes as they claim to be.


https://treasuries.bitbo.io/tesla/

This.

Totally agree with your take on it, because those people would say many good and not so good things about crypto, if it benefits them in the long run.

It's just that the crypto became the meta for them, in a way.

[Fivestar4everMVP]

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.

First of all, Tesla is a private company owned by Elon Musk as well know, and a private company, the owner do have the right to do whatever he or she thinks will move the company forward, if Elon Musk withdrew Tesla's support for bitcoin payment and he promised to reopen the acceptance of bitcoin as payment for the vehicle after a certain milestone is reached, and now that milestone have been achieved and Elon seems not to be keeping his promise, then let him be, Bitcoin's success isn't tied to Tesla accepting it for payment.

Bitcoin as done really well since last year and since when the use of it as payment for tesla vehicles was withdrawn, so bitcoin does not need Elon musk or Tesla to go great length, it will do extremely well with or without tesla and Elon Musk.