Tesla will no longer accept Bitcoin over climate concerns, says Musk

pp111 · 13 May 2021 at 11:27

Finally, some sense. It's about time people realised that Cryptocurrencies have no future in a world that is supposed to be cutting back on energy wastage.

https://www.bbc.co.uk/news/business-57096305

dirtychinchilla · 13 May 2021 at 11:33

I think it's all a play. Same as his dogecoin play last week

200sols · 13 May 2021 at 11:39

He probably sold a load of his BTC before announcing this so he can buy back cheaper and make a few Billion $$.

peterwalkley · 13 May 2021 at 11:40

It may finally have dawned on him that the price is not a one-way bet and he could lose out.

Em3bbs · 13 May 2021 at 11:40

It seems a bit of a dick move, when Elon is so vocal about short sellers. I can imagine quite a few of the types of people who would want to buy a Tesla are holders of BTC.

200sols · 13 May 2021 at 11:41

Em3bbs said:
It seems a bit of a dick move, when Elon is so vocal about short sellers. I can imagine quite a few of the types of people who would want to buy a Tesla are holders of BTC.

People dont see electric cars and BTC as sustainable partners, one seeks to help the environmental crisis and the other is an environmental disaster.

RxR · 13 May 2021 at 12:48

Well the scrap in electric cars will be more valuable - all that copper.

dlockers · 13 May 2021 at 12:49

He's just mad about the GPU shortage for mining affecting his production output

Rotty · 13 May 2021 at 12:49

Em3bbs said:
It seems a bit of a dick move

pretty standard for him

chroniclard · 13 May 2021 at 12:52

The guys a massive arse. Great tech and interesting projects but massive arse. :cry:

SkyTerran · 13 May 2021 at 13:07

200sols said:
He probably sold a load of his BTC before announcing this so he can buy back cheaper and make a few Billion $$.

And then probably invest the profits into a huge solar powered mining rig.

Dis86 · 13 May 2021 at 13:09

This has hit the markets hard today.

Somnambulist · 13 May 2021 at 13:30

The only important part of that was the bit where they said they wouldn’t be selling their BTC.

sanaxe1 · 13 May 2021 at 13:35

The FED had to provide $400 Billion to 39 institutions yesterday via a reverse repo to pass the liquidity test. This will have to be paid back tomorrow so expect a red day while they sell their holdings to make repayment.

Jasebta · 13 May 2021 at 13:41

Where are the materials for their batteries coming from again?

Vulcan · 13 May 2021 at 13:49

Jasebta said:
Where are the materials for their batteries coming from again?

What's your point? We shouldn't do it because it comes from the ground? Almost everything comes from the ground.

SpeedFreak · 13 May 2021 at 14:00

Wonder how much energy the current banking and investment industry uses?

Em3bbs · 13 May 2021 at 14:20

200sols said:
People dont see electric cars and BTC as sustainable partners, one seeks to help the environmental crisis and the other is an environmental disaster.

I own an electric car, and I'm not under the illusion that it's going to help the environmental crisis. Bloody cheap to run at the moment but in 10 years time the batteries will probably be lobbed in some river in the far east.

fez · 13 May 2021 at 15:18

SpeedFreak said:
Wonder how much energy the current banking and investment industry uses?

Probably not even a drop in the ocean compared to crypto. One uses constant high energy devices run 24/7 with the sold purpose of maximising computing power and the other is more concerned with internet speeds and latency.

Maccy · 13 May 2021 at 15:30

pp111 said:
Finally, some sense. It's about time people realised that Cryptocurrencies have no future in a world that is supposed to be cutting back on energy wastage.

https://www.bbc.co.uk/news/business-57096305

Sorry to break it to you, but I think the general consensus is that crypto currencies are here to stay for quite a while.