Elon Musk sends Bitcoin tumbling

[rpm]

Elon Musk sends Bitcoin tumbling

Stocks across the globe that were linked to cryptocurrencies fell in line with the slump in Bitcoin, after Tesla Inc. Chief Executive Officer Elon Musk expressed concerns over its energy usage.

Bitcoin plunged as much as 15%, sinking to as low as $46,045 after Musk said he was worried over the “rapidly increasing use of fossil fuels for Bitcoin mining and transactions,” and suspended Tesla purchases with the asset, indicating he might favor other cryptocurrencies with much lower energy usage.

 

[PoppieChoffel]

Good, it needs somebody that can influence the value to highlight the inefficiencies of mining BTC. Glad he said something.

 

[RonSwanson]

I suspect that Musk just bought some more BTC at the new price.

 

[Quicks]

If he farts and bitcoin drops by 15%, that is even a bigger issue with cryptocurrency.

 

[RedViking]

Says the guy who uses electricity to run his vehicles.

 

[grok]

Says the guy who uses electricity to run his vehicles.

Yeah but transport is a tangible benefit for fossil fuel to go up in flames for, as opposed to bitcoin, which is mos just vapour..

 

[RedViking]

Yeah but transport is a tangible benefit for fossil fuel to go up in flames for, as opposed to bitcoin, which is mos just vapour..

Blasphemy!

 

[NarrowBandFtw]

If he farts and bitcoin drops by 15%, that is even a bigger issue with cryptocurrency.

^ this

although he does the same with Tesla's stock price, Tesla sales figures at a pitiful 500k per year which is about half of what Toyota does every month means not a whole lot of Teslas being sold in any currency, them not accepting BTC is an immeasurably small bunch of f-all that disappeared from overall BTC transactions

the dump is pure emotion, as usual

 

[gregmcc]

This guy is unhinged

 

[JohnStarr]

Says the guy who uses electricity to run his vehicles.

...because you use fossil fuels to charge the Tesla electric cars?

 

[RedViking]

...because you use fossil fuels to charge the Tesla electric cars?

Use lightning like Percy Jackson

 

[JohnStarr]

Use lightning like Percy Jackson

My kids are watching that now. Not my type of movie.

I'd go with Thor and Stormbreaker. Charge that Tesla for life!

 

[RedViking]

This guy is unhinged

Just a glitch

 

[RedViking]

My kids are watching that now. Not my type of movie.

I'd go with Thor and Stormbreaker. Charge that Tesla for life!

Get them to read. Much better for their useless minds.

Percy Jackson and the Olympians 5 Book Paperback Boxed Set (w/poster) (Percy Jackson & the Olympians): Riordan, Rick, Rocco, John: 8601419661084: Amazon.com: Office Products

Percy Jackson and the Olympians 5 Book Paperback Boxed Set (w/poster) (Percy Jackson & the Olympians) [Riordan, Rick, Rocco, John] on Amazon.com. *FREE* shipping on qualifying offers. Percy Jackson and the Olympians 5 Book Paperback Boxed Set (w/poster) (Percy Jackson & the Olympians)

www.amazon.com

P.S. Havent read the books and shows boring, lol

 

[JohnStarr]

Get them to read. Much better for their useless minds.

Percy Jackson and the Olympians 5 Book Paperback Boxed Set (w/poster) (Percy Jackson & the Olympians): Riordan, Rick, Rocco, John: 8601419661084: Amazon.com: Office Products

Percy Jackson and the Olympians 5 Book Paperback Boxed Set (w/poster) (Percy Jackson & the Olympians) [Riordan, Rick, Rocco, John] on Amazon.com. *FREE* shipping on qualifying offers. Percy Jackson and the Olympians 5 Book Paperback Boxed Set (w/poster) (Percy Jackson & the Olympians)

www.amazon.com

P.S. Havent read the books and shows boring, lol

Haha...that was one thing quite awesome in Lockdown. They read a bit, but they're reading a lot now which is awesome. Diary of a Wimpy Kid for my youngest, and nature books for my eldest.

 

[Messugga]

I saw numbers of 700kWh per BTC transaction in energy consumption, with this saying 900kWh. I don't use 900kWh in my house in an entire month. It's an insane amount of energy.

 

[RedViking]

Haha...that was one thing quite awesome in Lockdown. They read a bit, but they're reading a lot now which is awesome. Diary of a Wimpy Kid for my youngest, and nature books for my eldest.

The stuff kids reads these days.... pffft..

For us it was the Freewinds Asterix and Obelix as kids and..... mind you, still reading just Asterix and Obelix.

 

[acidrain]

Oh but Elon, DOGE is mined the same way, just using script.

I've said this to a few people in my circle. He DGAF about pushing crypto adoption... he is all about making $$$ and with his apparent influence, he is using that to push his profits.... at the expense of those that buy into his BS.

 

[richjdavies]

I saw numbers of 700kWh per BTC transaction in energy consumption, with this saying 900kWh. I don't use 900kWh in my house in an entire month. It's an insane amount of energy.

Luckily you dont spend a bitcoin per month (720,000 zar at time of writing) either.
1BTC is a large amount..

 

[Elon]

Oh but Elon, DOGE is mined the same way, just using script.

I've said this to a few people in my circle. He DGAF about pushing crypto adoption... he is all about making $$$ and with his apparent influence, he is using that to push his profits.... at the expense of those that buy into his BS.

About 80% of people in crypto DGAF about adoption and are just in it for the $$$. Not necessarily a bad thing for the eventual adoption of crypto - who knows if bitcoin would have become a household name so quickly without them.