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Thoughts On Tesla Not Accepting Bitcoin Anymore?

This new has caused some red days in the crypto markets. Would love to hear fellow savages thoughts on Tesla/Elon's move to stop accepting it as a form of payment.

๐Ÿฑ Off-Topic
โ˜๏ธ Software Tech
๐Ÿ’ต Finance
24
Beans
Politicker
+5
Account Executive
Elon is a meme.

I do not understand the praise for him from anyone.
admiralgeneral
Director of Big Ballin
Not arguing but SpaceX and Tesla are pretty remarkable.ย 
Beans
Politicker
+5
Account Executive
For sure, how much credit is given to the engineers, R&D, dev teams etc?

He's a Jobs, a phenomenal marketer.

But he was not a founder of Tesla, and that whole read about him essentially snaking the company away from the original 3 is worth it.


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Gavinbelson
Good Citizen
Account manager
Completely agree. He's a twitter troll with unlimited funds
Salespreuner
Big Shot
+11
Regional Sales Director
In a way , yes true that
CuriousFox
WR Officer
+11
Needer of Life Alert
This just makes me realize I need to research this and NFTs more. I need a guide for dummies.ย 
Chep
WR Officer
+10
Business Development Team Lead
So many "experts" in the space and people yelling into the void that is the internet. That being said, there are some amazing and knowledgeable people in the space, but seems like it's getting harder and harder to find credible sources over people just trying to pump and dump a coin they're holding
Salespreuner
Big Shot
+11
Regional Sales Director
Absolutely ๐Ÿ’ฏ. Got to keep a watch and find a right one
SA
SADNES5
Politicker
+6
Business Development
Think of the NFT as original. Signed verified work.ย 

The Mona Lisa.ย 
There is "one" original in Paris
You can see a million copies of it everywhere for basically free. Print out one hang it on a wall. It won't be the original because we can agree the original is in Paris.ย 

NFT shows who "owns" the original. This way... When you sell it, the artist will receive a small portion each time it changes hands.ย 

So if Mona Lisa was an NFT Leonardo would get a small % when it sells. It would have a verified chain of possession, and who "owns" it as it is written on the block chain and can't be edited by a malicious actor (I mean it COULD but nearly impossible)
Chep
WR Officer
+10
Business Development Team Lead
My sister is an artist and I'm trying to get her to create NFTs for all the paintings she creates. Would be cool to sell the actual painting and the NFT for it
Ace
Arsonist
+9
CEO
+1. Do let me know once you find one lol
Stringer
Arsonist
+8
SDR
Too true.
Salespreuner
Big Shot
+11
Regional Sales Director
+1
detectivegibbles
Politicker
+8
Territory Rep
It's funny scrolling on twitter and all the Bitcoin peeps are up in arms calling Elon an emotional egotistical child.ย 

Yet, they were praising him months ago when Tesla started accepting payment...

I think Tesla is going to sell off all their bitcoin, if they haven't already.

Not sure how you can standardize DOGE as a currency since its infinite? But then again, so is the US dollar since we can print off billions within a year time frame.ย 
SA
SADNES5
Politicker
+6
Business Development
DOGE won't be a currency. It's a store of value. SMH
MrMotivation
Politicker
+4
Sales
They all are stores of value. If I have a "currency" that appreciates faster than the Dollar, why would I spend it?
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Chep
WR Officer
+10
Business Development Team Lead
As I understand it Doge is not infinite it has fixed inflation unlike the dollar which the fed decides how much gets printed. That being said, I completely agree with everything else you wrote. I love crypto, but damn the community can be so toxic sometimes
detectivegibbles
Politicker
+8
Territory Rep
You're probably more knowledgeable in the crypto world than I am Chep. I really don't know as much as I probably should.ย 

For whatever reason, I didn't think DOGE had a fixed supply. But that's good if it does. However a big issue is that, and correct me if I am wrong, only 4-5 wallets own like 30% of all DOGE?ย 

Wouldn't that essentially tank the price if any of them were to sell?ย 
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admiralgeneral
Director of Big Ballin
Sold my Bitty. DOGE is the way.ย 

drendo
Politicker
+8
Enterprise Account Executive
Just the right thing to do imo. I saw a really good post online saying that crypto is like the simplest "villain" plotline ever. Just free and unlimited money in exchange for pollution for the planet
Chep
WR Officer
+10
Business Development Team Lead
Can you put the link in here? Of all things polluting the earth I don't think crypto should be our biggest concern. Cars, planes, boats, drilling for oil. We've proven there are greenways to create electricity, but not so much with oil vehicles.
Chep
WR Officer
+10
Business Development Team Lead
That being said, not all electricity is green so I would love to read and learn more about the negative effects it is having on our planet
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SA
SADNES5
Politicker
+6
Business Development
Buy the dip.

It's a decent name recognition as a store of value.ย 

The bs about the carbon foot print is wrong. 80+% of BTC is mined with CHEAP renewable energy. (re. Iceland/China)
Chep
WR Officer
+10
Business Development Team Lead
Agreed Sadnes5๐Ÿ”ฅ๐Ÿค๐Ÿ‘๐Ÿ‘ป
MrMotivation
Politicker
+4
Sales
Elon used the Bitcoin craze to pump his shares. He made like $100m from when he announced he would accept it, to when he said he wouldnโ€™t. He is taking advantage of the "meme" investor. He couldn't care less about the environment.ย 

Edit: I also will never understand why anyone would use cryptocurrency as a form of payment for anything. The value fluctuates so much, and the real "value" of holding crypto right now is as a form of investment. Why would you use it to purchase a hard good? So the other person receives the benefit of the value increase?
Chep
WR Officer
+10
Business Development Team Lead
I guess if you got in early and your investment is worth a lot more now than what it was you might be incentivized to spend with crypto rather than cash
SalesPharaoh
Politicker
+8
AM BDR
Man think of Elon as a business man who understands the power of PR and media he knows very well that w/e he says has an impact on the market.

So I guess he was trolling for his personal gain or w/e but him announcing that they won't use it should harm the value of Bitcoin since it is pegged over people's adoption as a means of currency exchange and now they publically lost a major corporation
LordOfWar
Politicker
+6
Director
I think its some bullshit, but he didn't get where he is by being a super honest guy.
Chep
WR Officer
+10
Business Development Team Lead
That is a great point
sahil
Notable Contributor
+15
Deepak Chopra of Sales
DOGE TO THE MOONNNNN
Chep
WR Officer
+10
Business Development Team Lead
๐Ÿค๐Ÿ”ฅ
Coffeesforclosers
Notable Contributor
+11
Director Sales and Market Development
They only accept doge now lol
Chep
WR Officer
+10
Business Development Team Lead
Hahahahah to the moon
braintank
Politicker
+6
Enterprise Account Executive
Did anyone actually pay for a Tesla using BTC? Seems like it was all just part of Elon's pump-and-dump plan.
Chep
WR Officer
+10
Business Development Team Lead
I guess if you made a good bit of money in it and wanted to get a tesla without cashing out BTC for USD you did
SammySandbags
Politicker
+5
Account Executive
They pulled a classic bait and switch on us
Chep
WR Officer
+10
Business Development Team Lead
Yes they did SammySandbags hahaha
Rigeyyy
Opinionated
+1
Account Executive
Makes me sad. Itโ€™s going to make Bitcoin worth less and less
Chep
WR Officer
+10
Business Development Team Lead
In the long run I'm still super bullish, but a shame his tweets have this much of an effect
paddy
WR Officer
+10
Account Executive
Cowards.
swizard
Celebrated Contributor
+9
Sales Evangelist
Elon is a master of Pump and Dumb :xD
Patrick_Bateman
Fire Starter
Senior Sales Consultant
Amazing, Bitcoin is worthlessย 
Justatitle
Politicker
+8
Senior AE
To me the funniest part is that he cites the environmental impact being the biggest problem, Hey Elon, making the Tesla batteries and powering them is far more harmful to the environment than any emissions they reduce...
admiralgeneral
Director of Big Ballin
Bitcoin is dead. Never doubt a man who made rockets land, dated Amber Heard, and has six kids.ย 
Chep
WR Officer
+10
Business Development Team Lead
โ˜•๏ธ ๐Ÿธ
Kiona
Opinionated
+2
Head of Business Development
It is because it hurt his sustainability metrics. Bitcoin is very fossil fuel dependent now, but hopefully his investment in it will change that.ย 
SDMHGWarrior
Tycoon
+13
CEO
The entire world is upside down.ย  My bagel place doesn't accept cash!!!
TheRealTommyCallahan
Arsonist
+6
Assistant to the Account Executive
Sad day :(
Chep
WR Officer
+10
Business Development Team Lead
Yea I lost a lot of respect for Elon after this. He seems like such a whiny baby on Twitter recently
TheRealTommyCallahan
Arsonist
+6
Assistant to the Account Executive
Agreed 100%
Lambda
Politicker
+6
Sales Consultant
they are......, they will accept it when the prices bounce back up, take your coins at high valuation so you can liquidate high if need be
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