3,358
 

Bitcoin Rises After Elon Musk Says Tesla Will Accept Bitcoin Again Once Miners Use 50% Cle



ADVERTISEMENT
 
topics gone triple plat - Number 1 spot 3X PLAT
most viewed right now
+124  90
87 replies  @sports




section  x1   |  0 bx goons and 1 bystanders Share this on Twitter       Share this on Facebook

section guap
  
 2 months ago '20        #1
2044 page views
29 comments


MeNoSenYouNoCom  topics gone triple plat - Number 1 spot x7
avatar
Props total: 30839 30 K  Slaps total: 3236 3 K
Bitcoin Rises After Elon Musk Says Tesla Will Accept Bitcoin Again Once Miners Use 50% Cle
 

 
Elon Musk tweeted about Tesla and Bitcoin, and BTC went up—a reversal from the recent history of Musk and Bitcoin.

Bitcoin is on the move again, thanks to an Elon Musk tweet.

The Tesla CEO and Dogecoin lover said in a tweet on Sunday that Tesla “will resume allowing Bitcoin transactions” if and when there’s “confirmation of reasonable (~50%) clean energy usage by miners with positive future trend.” Bitcoin popped nearly 1% after the tweet to $37,650.

The tweet was a response to a CoinTelegraph story about Magda Wierzycka, CEO of fintech company Sygnia, accusing Musk of a Bitcoin pump and dump scheme after Tesla bought $1.5 million in BTC and then, in Wierzycka's summation, "sold a big part of his exposure at the peak."

Musk dismissed Wierzycka’s criticism as “inaccurate,” adding that Tesla “only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market.” (Musk did say in April that Tesla "sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet.”

In the past year, Musk’s tweets have repeatedly moved crypto prices, both up and down.

Tesla’s Bitcoin purchase in February gave a boost to both Bitcoin and TSLA stock, but then his surprise tweet in May that Tesla will no longer accept Bitcoin due to environmental concerns prompted a major pullback that has continued as he continued to tweet his concerns about Bitcoin.

Meanwhile, he has favored meme token Dogecoin instead, and his Doge meme tweets have repeatedly boosted DOGE.

Price charts show that the Elon Effect on crypto prices is alive as ever. After Musk’s tweet on Sunday, Bitcoin broke through the resistance level of $35,000 to $36,000 for the first time since the beginning of the recent bearish trend in April.

The debate over Bitcoin's environmental impact has grown louder and hotter over the past year, and has prompted critics to call for more Bitcoin mining that uses renewable (or "clean") energy. The current portion of Bitcoin mining that already uses renewable energy is in dispute. A 2020 report from the Cambridge Centre for Alternative Finance estimated that 39% of Bitcoin mining uses renewable energy, while a 2018 report from CoinShares, a crypto investment firm, pegged the figure at 77.6%.

At some point between Tesla buying $1.5 billion in Bitcoin in February, and Musk backing away from it in May, the executive clearly became concerned about the energy usage of Bitcoin mining and how it might harm Tesla's green image.

At the Bitcoin 2021 conference in Miami last week, chants of “fu*k Elon,” as well as t-shirts bearing the same phrase, were popular. But if Tesla is willing to re-embrace Bitcoin, maybe Bitcoiners aren’t broken up with Musk for good.
+7   



best
worst
29 comments
 

 2 months ago '20        #2
MeNoSenYouNoCom  topics gone triple plat - Number 1 spot x7 OP
Props total: 30839 30 K  Slaps total: 3236 3 K
 MulaAve said
People think more of something is actually more.

Idk how to really articulate it but something tells people more = better.

And people bring that logic into investments and think woah, this coin is 0.10, it has much more room to grow than a coin that's at $5 because its so much "cheaper". Totally untrue

This is why I think instead of listing btc at its full price (39k), they would list it as 1 satoshi which is something like $0.00038061 USD ....

if they did that they im sure the retail crowd gonna try to get 1 satoshi to $1 lol
I know you mean well, but chill

welp never mind
sh*t just jumped 3k
+3   

 2 months ago '16        #3
MulaAve  topics gone triple plat - Number 1 spot x3
Props total: 15805 15 K  Slaps total: 1762 1 K
 MeNoSenYouNoCom said
welp never mind
sh*t just jumped 3k
??

 2 months ago '20        #4
MeNoSenYouNoCom  topics gone triple plat - Number 1 spot x7 OP
Props total: 30839 30 K  Slaps total: 3236 3 K
 MulaAve said
??
in the other thread I was telling you be quiet about satoshis cause the price might start to go up if people thought like you...but then Elon Musk opened his big a*s mouth and that sh*t went up 3000, just a fun irony just fu*kin round
+2   

 2 months ago '04        #5
bibbyboi 
Props total: 15921 15 K  Slaps total: 1965 1 K
The fact that Tesla accepting BitCoin is enough to spike the price is really scary. A whole country said it's accepted as currency and the price didn't do sh*t, but Elon saying they will accept it if they can mine it more efficiently spikes the fu*k out of it? Something isn't adding up here.
+15   

 2 months ago '20        #6
Ogbe  topics gone triple plat - Number 1 spot x3
Props total: 2951 2 K  Slaps total: 832 832
 bibbyboi said
The fact that Tesla accepting BitCoin is enough to spike the price is really scary. A whole country said it's accepted as currency and the price didn't do sh*t, but Elon saying they will accept it if they can mine it more efficiently spikes the fu*k out of it? Something isn't adding up here.

America / Americans have purchasing power not a third world sh*thole like El savaldor
+5   

 2 months ago '20        #7
BW215 
Props total: 5598 5 K  Slaps total: 822 822
Musk is a dweeb
+7   

 2 months ago '19        #8
MP2019 
Props total: 11446 11 K  Slaps total: 1180 1 K
 bibbyboi said
Something isn't adding up here.
#tether
-2   

 2 months ago '04        #9
bibbyboi 
Props total: 15921 15 K  Slaps total: 1965 1 K
 Ogbe said
America / Americans have purchasing power not a third world sh*thole like El savaldor
Sure, but El Salvador adopting it means that they are more than likely going to be purchasing a lot of it to back their currency. Which means the price should be going up soon. Now basically nobody buys sh*t with their BTC. It's too valuable and deflationary. Makes no sense to waste your BTC on something that's going to depreciate as soon as you leave the lot with it.
+3   

 2 months ago '14        #10
El Caballero 
Props total: 52037 52 K  Slaps total: 3989 3 K
This sh*t can never be a real currency as long as this foolishness continues.
+9   

 2 months ago '19        #11
MarathonOG 
Props total: 513 513  Slaps total: 232 232
How long will you billionaire worshipping peasants go before you realize he's a GIANT troll and is playing games with twitter to say fu*k you to the SEC.

Theres a new narrative every hype cycle. You either make bread, or you lose it.

Those who live on the hopes of Elon and other "news" events end up broke af by the end of every cycle.
+9   

 2 months ago '20        #12
MeNoSenYouNoCom  topics gone triple plat - Number 1 spot x7 OP
Props total: 30839 30 K  Slaps total: 3236 3 K
 El Caballero said
This sh*t can never be a real currency as long as this foolishness continues.
it won't, but americans are stupid
+1   

 2 months ago '20        #13
MeNoSenYouNoCom  topics gone triple plat - Number 1 spot x7 OP
Props total: 30839 30 K  Slaps total: 3236 3 K
 MarathonOG said
How long will you billionaire worshipping peasants go before you realize he's a GIANT troll and is playing games with twitter to say fu*k you to the SEC.

Theres a new narrative every hype cycle. You either make bread, or you lose it.

Those who live on the hopes of Elon and other "news" events end up broke af by the end of every cycle.


why do you care
+1   

 2 months ago '14        #14
El Caballero 
Props total: 52037 52 K  Slaps total: 3989 3 K
 MeNoSenYouNoCom said
it won't, but americans are stupid
It won't continue? You favor government regulation of cryptocurrency then?

 2 months ago '04        #15
deziking  topics gone triple plat - Number 1 spot x1
Props total: 29063 29 K  Slaps total: 3012 3 K
this negga on his a*s burger syndrome. Log off.

 2 months ago '17        #16
justin747  topics gone triple plat - Number 1 spot x5
Props total: 167173 167 K  Slaps total: 22219 22 K
sportsbook top 10

+1   

 2 months ago '19        #17
MarathonOG 
Props total: 513 513  Slaps total: 232 232
 MeNoSenYouNoCom said


why do you care
Reading isn't your strong point. Dropped out in the 3rd grade homie? Or you need me to make a picture book with no words to understand?

 2 months ago '05        #18
rashcobar 
Props total: 14218 14 K  Slaps total: 2457 2 K
fu*k bitcoin and this dude...
-1   

 2 months ago '20        #19
MeNoSenYouNoCom  topics gone triple plat - Number 1 spot x7 OP
Props total: 30839 30 K  Slaps total: 3236 3 K
 El Caballero said
It won't continue? You favor government regulation of cryptocurrency then?
no I'm just saying eventually sh*t will calm its self newbies treating BTC like doge right now thats all

 2 months ago '20        #20
MeNoSenYouNoCom  topics gone triple plat - Number 1 spot x7 OP
Props total: 30839 30 K  Slaps total: 3236 3 K
 MarathonOG said



MarathonOG has now been successfully added to your ignore list. You will now be returned to where you were.

 2 months ago '19        #21
zzxxccvvbb 
Props total: 26092 26 K  Slaps total: 3372 3 K
 bibbyboi said
The fact that Tesla accepting BitCoin is enough to spike the price is really scary. A whole country said it's accepted as currency and the price didn't do sh*t, but Elon saying they will accept it if they can mine it more efficiently spikes the fu*k out of it? Something isn't adding up here.
Tesla could buy El Salvador several times over if they liquidated everything
+1   

 2 months ago '15        #22
Gullyman000 
Props total: 744 744  Slaps total: 93 93
 bibbyboi said
The fact that Tesla accepting BitCoin is enough to spike the price is really scary. A whole country said it's accepted as currency and the price didn't do sh*t, but Elon saying they will accept it if they can mine it more efficiently spikes the fu*k out of it? Something isn't adding up here.
My coming Clsk the only miner that is clean.

 2 months ago '20        #23
itsthekid123  topics gone triple plat - Number 1 spot x1
Props total: 5671 5 K  Slaps total: 706 706
 MeNoSenYouNoCom said
in the other thread I was telling you be quiet about satoshis cause the price might start to go up if people thought like you...but then Elon Musk opened his big a*s mouth and that sh*t went up 3000, just a fun irony just fu*kin round
@

only matter time my bros
+2   

 2 months ago '20        #24
itsthekid123  topics gone triple plat - Number 1 spot x1
Props total: 5671 5 K  Slaps total: 706 706
 bibbyboi said
The fact that Tesla accepting BitCoin is enough to spike the price is really scary. A whole country said it's accepted as currency and the price didn't do sh*t, but Elon saying they will accept it if they can mine it more efficiently spikes the fu*k out of it? Something isn't adding up here.
it went from 31k to 38k on the el salvador news

it was on way up regardless

there's a major buy going on tomorrow by michael saylor (another billionaire tech mogul)

elon tweet just help push it out of resistance
+2   

 2 months ago '18        #25
MrPersonality  topics gone triple plat - Number 1 spot x1
Props total: 5635 5 K  Slaps total: 1470 1 K
This n*gga is annoying now
+4   



Sign me up
 
 

yesterday...


most viewed right now
+38online now  22
Video inside Jeff Bezos on how important sleep is
110 comments
1 day ago
@misc
most viewed right now
online now  20
Pro Skater: TERRY KENNEDY arrested for attempted murder; threatened cops ... ..
174 comments
1 day ago
@wild'ish
most viewed right now
-35online now  17
Real or fake : PJ Washington signs babymama Brittany Renner to 18 year dea..
51 comments
2 days ago
@sports
most viewed right now
+33online now  10
Jul 30 - CDC study shows 74% of people infected in outbreak were fully vaccina..
196 comments
1 day ago
@news
back to top
register register Follow BX @ Twitter search BX privacyprivacy