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Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns


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4 hours ago, RikkiTikki_is_Back said:

What if the narrative was that Musk pulled this stunt to shine the light on what the media and BTC Maxi's have been paying mainstream media not to talk about.  If you seriously think he did not know the environmental factors behind BTC prior to Tesla's previous announcement I have a bridge I can sell you.  This game is played like Chess not Checkers, "Environmentally friendly crypto is about to trend like a SOB!!! and who is at the top of that list.  If you didn't see this type of shift coming from Elon his plan obviously worked.  Nothing about Tesla says BTC!! Absolutely nothing!! When he made this move my question was "What's his angle here because this is surely a fake out move??"  I'm not going to say it's XRP hell it could be XLM, ADA or even DOGE but XRP burns less than even those I have mentioned here.  "Stay Tuned!!!"The pump of DOGE was to show you the power behind speculation and how at this time that is the main driver in the market, the shill of BTC was to get everybody's attention to watch be focused and dialed in, now we get down to use case and BTC just doesn't cut the mustard so we pivot to what was really the focus and draw all the attention we garnered with us. As we all know Musk despises the SEC, what a slap in the face this would be if he starts using XRP.  Remember XRP has yet to be classified as a security(I don't think it will be) but there is nothing stopping Musk or anyone else in the states from using it. Man if he did that this would really put the SEC on their heels!! DOGE does not have the liquidity nor the enterprise support to boot.  Elon may shill crap but he is serious about the business side of things.

I like your theory @RikkiTikki_is_Back, but it feels too clever.  I know Musk is clever, but this sort of explanation feels like afterthought cleverness.  I do not think battleplans work like this.

Musk has hyped Doge and BTC.  Such a high profile "green" orientated business hyping the two most useless crypto in the crypto league stinks of ignorance.    My perspective is that Musk was messing about being egotistical and making easy money, with very little regard to consequences.  

This feels like opportunism gone bad and is a mess.  If he were to adopt XRP, that would a good exit out of the mess he has created.  I would think it is a 25% chance he would go for XRP or ADA, but it would not have been a pre-planned strategy.

This incident feels like a 9/11 incident for BTC.  Musk really has drawn attention to a huge flaw in the BTC meme.  I am sort of surprised the BTC dominance of crypto has lasted his long.  BTC dominance, and institutional interest in BTC has diverted attention away for the use case for crypto, and has been very bad for the industry.  This is a dangerous moment for our investments.  My guess is it will be glossed over by the industry, and if Musk started to hype ADA and XRP and VET that would make this a "beneficial crisis" for the industry, but I doubt it will happen that way (Musk is not really interested in much other than being the centre of attention).  My guess is that this is the first of a series of scandals that will force the media to look at crypto more critically, and the beginning of an adjustment of values.

BTW Are electric cars really "green"?  I get it that they reduce emissions in cities, but the emissions still happen at the power stations that charge the batteries.  Battery power is sure less energy efficient than using fuel at the point where it is needed to provide energy, ie under the bonnet of the car?  Just asking?

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I would like to have been a fly on the wall in the meeting where he acquired that epiphany ! Will future crypto histories point to this as the beginning of BTC's decline in popularity ? Hmmm.

Am I the only one who doesn't want this liar to endorse XRP? Do we really want to pump and dump depending on what meme he decides to post on twitter? I want him to stay very far away from XRP. Damagin

I like your theory @RikkiTikki_is_Back, but it feels too clever.  I know Musk is clever, but this sort of explanation feels like afterthought cleverness.  I do not think battleplans work like this.

23 minutes ago, Julian_Williams said:

I would think it is a 25% chance he would go for XRP or ADA, but it would not have been a pre-planned strategy.

Am I the only one who doesn't want this liar to endorse XRP? Do we really want to pump and dump depending on what meme he decides to post on twitter? I want him to stay very far away from XRP. Damaging BTC is enough. He can play around with Doge if he likes (although I don't like that either). But for serious cryptos, it is damaging for the whole industry that it can be manipulated so easily by impulsive tweets from a billionaire.

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32 minutes ago, Julian_Williams said:

BTW Are electric cars really "green"?  I get it that they reduce emissions in cities, but the emissions still happen at the power stations that charge the batteries.  Battery power is sure less energy efficient than using fuel at the point where it is needed to provide energy, ie under the bonnet of the car?  Just asking?

An electric car has about half the environmental impact of an internal combustion engine car over its lifetime: https://www.greenpeace.org.uk/news/electric-cars-greener-petrol-cars

They're not 100% green because very little that's manufactured can be, but they're a hell of a lot better for the world than petrol/diesel vehicles.

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16 minutes ago, Seoulite said:

Am I the only one who doesn't want this liar to endorse XRP? Do we really want to pump and dump depending on what meme he decides to post on twitter? I want him to stay very far away from XRP. Damaging BTC is enough. He can play around with Doge if he likes (although I don't like that either). But for serious cryptos, it is damaging for the whole industry that it can be manipulated so easily by impulsive tweets from a billionaire.

If he keeps it up he's going to expedite the SEC's landgrab of crypto. They won't want stuff so very public so very unregulated so very obviously.

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23 minutes ago, Seoulite said:

Am I the only one who doesn't want this liar to endorse XRP? Do we really want to pump and dump depending on what meme he decides to post on twitter? I want him to stay very far away from XRP. Damaging BTC is enough. He can play around with Doge if he likes (although I don't like that either). But for serious cryptos, it is damaging for the whole industry that it can be manipulated so easily by impulsive tweets from a billionaire.

I regard the whole Elon thing as a car crash waiting to happen.  Like you I would have preferred if he had kept away from the crypto space altogether, but he has actually highlighted an issue that has not been addressed by the financial institutions investing in BTC and brought it our into the open.  That can only be good for the long term future of crypto.

I think if he were to now tell the world that there are some serious crypto projects that would go some way to correcting some of the wrong impressions he has contributed towards.  That would be good, but I think everything Elon does is done of the wrong reasons. 

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18 minutes ago, yannis said:

An electric car has about half the environmental impact of an internal combustion engine car over its lifetime: https://www.greenpeace.org.uk/news/electric-cars-greener-petrol-cars

They're not 100% green because very little that's manufactured can be, but they're a hell of a lot better for the world than petrol/diesel vehicles.

interesting article.  I am quite sceptical about how unbiased Greenpeace are, but the article definitely makes a good case.

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1 hour ago, PunishmentOfLuxury said:

EVs are way better.

This is silly. Too simplistic. Here's just ONE reason why...

Depends on how they are powered and how we define "green", etc. If you're using coal plants to electrify everything, then no, they're actually worse because they're adding peak-trough strain to the system load (we cannot simply plug in millions of EVs right now and expect no power cuts with our current grid setup). Solar, wind... it also depends but since unreliables cannot ever power a baseload (the core of the grid) then we are forced to use "back up" fossil fuels (lol), which is why e.g. in Germany and California they now emit MORE CO2 because of so-called "renewables" ideology, which are really just a trojan horse for MORE coal/natgas. While France just laughs at everyone. So if we want EVs, we have to (as in, this is a question of (PHYSICS) have reliable 24/7 baseload... and that cannot be renewables or coal according to climate concerns (BUT there are other reasons esp. coal being highly toxic, dangerous work, and even radioactive).

If we power baseload on modern nuclear power, then yes – no problem powering the entire grid 24/7 reliably with emissions-free baseload energy. Bring on the Teslas. But Greenpeace, the arrogant scum they are, don't like nuclear either. Neither do the oil, gas & renewables companies, coincidentally (which is why they're happy investing in "renewables"): the only thing that can replace coal (or remove natgas reliance for "backup") is nuclear. Cannot be done with unreliables like solar/wind etc.

So it depends how/where we offset the emissions and how we define "green". But finally, and this is maybe controversial but frankly I don't care because some science is not up for debate... CO2 is NOT a pollutant or "bad". It is required for every living thing on Earth, and on very a LONG term chart (geological tiem frames), we are actually at historically LOW CO2 ppm levels – dangerously so, in fact. So if anything, personally I think CO2 going up is a very, very GOOD thing and you can see from NASA data the effect it's already having on re-greening the earth (plants grow better and faster with more CO2). Further, I am willing to speculate that it is IMPOSSIBLE to reduce CO2 emissions without millions of people starving to death; so they will only go UP, unless MAYBE we go 70%+ nuclear like in France, which isn't going to happen for 50-100 years.

So again, the entire envrionmental debate is utterly retarded and confused. CO2 is never "bad" for the "environment". It is part of the cycle of life, like the water cycles and soil cycles. What we DON'T want is to use antiquated coal, which does pollute air, water and soil with heavy metals, carcinogens, etc, for baseload power. We need to switch to nuclear because not only is the current system broken, but if we want fancy electric vehicles in the hundreds of millions, we need to make MORE energy (i.e. at higher density), for less cost and space, on a reliable basis AND (if you believe the climate alarmism) without emitting CO2... no pressure then! :D 

So, while I personally don't care about climate change, in fact I think it's actually a good thing... let's say I am wrong, a denier, bla bla... off with my head! Fine! Let's switch to EVs. The only way to power that is with nuclear and that's not happening fast enough. 

So if we want to say CO2 is bad bad bad, then yes on a redefining of words and total loss of common sense, petrol cars are "worse for the environment". However, my preference is we switch to electric anyway. Why? Because they're better for noise pollution (underrated IMO) and local toxicity buildup in air, sewers, soil, etc. So I am 100% pro-EV *as long as we upgrade our electrical grid based on rational science and engineering principles!* Otherwise, one can say... EVs are "worse for the environment." :D   

Let's just go nuclear (the modern variety that doesn't melt-down). Then we can all drives Teslas – or, more realistically, when the Tesla fraud is exposed, electric Chinese and German cars... :) 

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Posted (edited)

And please please, for the love of christ almighty... don't anyone say... "but we can just use batteries to store energy!"

My brain will explode trying to explain the physics and engineering and economic challenges involved in storing even 1% of the world's grid power... :D 

EDIT: *sigh*

 

Edited by thinlyspread
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oh, I definitely think musk is an attention ***** per say but, you can't deny the following he has.  for years pundits in this space have preached about the energy consumption of POW only to be drowned out by the volume of the Maxi's.  The good point about Elon's tweet is now it has the masses who in a lot of cases really don't understand what's going on here and at their best purchase on impulse trying to find out what a green crypto is, and Musk tweets, etc are not being drowned out.  The only bad thing is the timing because hell XRP is not that easy to get in the US right now, as a lot of these people have a hard time getting accounts on exchanges and now only a few offer it(Maybe time for Uphold to go on a heavy marketing campaign). My take away from this is I hope exchanges take advantage of the moment and relist XRP.  Elon just gave the outsiders looking in at crypto good reason to buy XRP.  Really it doesn't matter how any of us see Elon but you can't undervalue his influence on this space, and a lot of that has to do with how people see him as a Maverick.  I remember when the major auto makers laughed at Tesla, now the president of GM is saying they want all their lines to be fully electric by 2035.  I live in Michigan 45 miles north of Flint Michigan, if you don't know the story on the water crisis in Flint google it, while our government has pretty much had their thumbs up their ass during the whole crisis in Flint which by the way is still ongoing Elon gave the city a water purification system https://www.mlive.com/news/flint/2021/03/after-roadblocks-with-manufacturer-new-filter-selected-for-flint-schools-filtration-stations-funded-by-elon-musk.html.  Yeah Musk talks and tweets a lot sometimes to much but with his actions he has a huge following of people with the general belief that if he say's it's the next big thing "It's the next big thing!"  Like I said it's ashame that here in the states at this moment XRP is not easy to obtain because this definitely has potential.

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