🔴 Breaking News - Elon Musk is going to part with all his Bitcoin BTC

Ozero

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Quote from: TheGreatPython on May 24, 2021, 04:49:10 AM

Quote from: kna on May 16, 2021, 04:04:29 PM

It seems that Elon Musk is going to part with all his Bitcoin BTC in a very short time?

We don’t know about this for sure, maybe he hasn’t sold his coins yet, this tweet is not a proof that he has sold his coins. He’s just trying to let people know that the first tweet is right about what he’s likely to do when the hate continues.

Moreover the price has already gone down before the time that tweet was made, so if he should be selling it is not going to be at a high price, it’s going to be around this current price. So, I am not going to say that he really caused it fully, although I do think that he was part of what has caused the price to crash, because his tweet on Bitcoin as of recent and the kind of actions that TESLA has taken against bitcoin really made some people to jump out of Bitcoin and go in search of other coins.

Recently, Elon Musk has already announced that he is going to continue to keep his bitcoins and that Tesla may still accept bitcoins as payment for electric cars. Thus, he again showed his inconsistency and contradictory statements regarding bitcoin and cryptocurrency in general. I have already stopped paying attention to his statements, although they still continue to influence the price of the cryptocurrency, albeit to a lesser extent than before.
However, it should be admitted that Elon Musk played a more positive role in the popularization of cryptocurrency than a negative one. Any attraction of attention to cryptocurrency from influential persons is already good, as more and more people learn about it.

TheGreatPython

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Quote from: kna on May 16, 2021, 04:04:29 PM

It seems that Elon Musk is going to part with all his Bitcoin BTC in a very short time?

We don’t know about this for sure, maybe he hasn’t sold his coins yet, this tweet is not a proof that he has sold his coins. He’s just trying to let people know that the first tweet is right about what he’s likely to do when the hate continues.

Moreover the price has already gone down before the time that tweet was made, so if he should be selling it is not going to be at a high price, it’s going to be around this current price. So, I am not going to say that he really caused it fully, although I do think that he was part of what has caused the price to crash, because his tweet on Bitcoin as of recent and the kind of actions that TESLA has taken against bitcoin really made some people to jump out of Bitcoin and go in search of other coins.

justdimin

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Quote from: cute nmp on May 21, 2021, 02:58:42 PM

Everyone related to crytocurrency by now knows that bitcoin will no longer be accepted as a means of payment by Tesla. But the company did not announced that they will sell any of the bitcoins they purchased .It was even confirm by Elon musk himself that they did not sell any btc as of recent.

I dearly wish that they once and for all their coins and quit the market because all these chaotic events are not good for the cryptomarket. I do not want him to make tweets about bitcoins or any crypto at all. He was praised so much for the work he did to pump dogecoin that he forgot how much heat he will face when things don't go right for him.

I wonder what will happen once dogecoin dump starts happening, he might even get some death threats looking at how mad people are against him. In all this chaos it is actually Elon Musk who is responsible because earlier he shouldn't have made the announcement of accept bitcoins for Tesla cars purchase and if he did he should have honored it.

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Quote from: slapper on May 17, 2021, 09:13:14 AM

Quote from: paxmao on May 17, 2021, 03:49:39 AM

It takes a life to build a reputation, Elon is very actively working on the basis that crypto users and hodlers are just stupid. In my view he is completely illiterate in so far as crypto is concerned and he is exchanging a limited and valuable asset (his reputation) for a sum that may look like a lot to many, but has no relevance ¡n his life. I really thought that this guy knew a bit more about business.

~Snip~

People will soon forget what he did to bitcoin when years pass. He has one of the biggest companies in the world (although many people think it is over evaluated) and his products definitely serve the future of mankind just like the blockchain. Besides, after making a big amount of money with bitcoin, do you think he will ever need his reputation again?

I was quite disappointed with his childish and precipitous tweets. I surely he and his company do earn a decent profit with such manipulation. However, you can't simply deny what he did to the crypto world.

I'll have to agree on this one, Elon Musk's reputation isn't ruined just because he is manipulating the cryptocurrency market for his own profit. Not to mention that those who are accustomed to crypto are a minority. Musk's reputation has survived worse hits, such as his SpaceX missiles exploding after taking off, Tesla being unable to deliver pre-ordered Tesla 3 models, or even the poor quality control the model 3 had.

I'm sure he will be fine, although, he has taken a toll on the market for sure. The recovery process will take quite some time.

bengsabeng

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this person (elon musk) has a huge influence on cryptocurrency, only by writing on social media can he control the market. right now I believe that there really is someone who can control the price of bitcoin or altcoin.

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Quote from: pealr12 on May 23, 2021, 12:26:23 AM

Quote from: The Sceptical Chymist on May 17, 2021, 08:39:38 AM

That's what I'm thinking--bitcoin has survived worse news than this, although in this case it's more than news if Musk dumped a ton of bitcoin onto the market all at once. I just looked at preev and the price is just over $44k, which is quite a drop. I don't know if this is a case of people following Elon Musk and selling bitcoin or if it was his sale or something else that caused it. Who knows. Hopefully it won't take too long for bitcoin to rebound, because I don't think the bull market is over. Not by a long shot.

As far as Elon Musk's reputation goes, I don't think he damaged it by anything he's done with bitcoin. It does look like he hadn't thought things through before making statements and his buying and selling, but maybe he's just impulsive. I don't know much about the guy.

Nah, Elon is the brain behind a successful company like Tesla, I don't believe he didn't think things through, he is too intelligent to fall in that category, what I feel is, Elon loves meme coin and he view the whole crypto space as such, a fun place where little tweets can make a huge impact on the market, he found a play toy,

Don't be surprised, after all this has gone down he will make another tweet how he misunderstood the whole btc mining thing, and the whole space will go crazy again, honestly, I want to knock some sense into the head of those followers.

Agreed, A business guru like Musk certainly has a number of experts who work tirelessly to research on anything and everything regarding investment, so saying that Elon didn't think this through is like a facade, I think Elon was aware of everything like the back of his hands, the guy is good at manipulating people.

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Quote from: Twentyonepaylots on May 22, 2021, 05:29:04 PM

See it as an opportunity to buy more and hold more bitcoins than if you had bought it when it's still high. We can't really blame Elon for selling his coins for whatever reason he wants to because before being a visionary, he was a regular person just like us. And admittedly regular me would also sell my bitcoins for fiat just so I can spend it on something that I am really passionate about. Let this selling not be something that would make us forget about what Elon is all about, which is primarily technological advancement and helping us become a space-faring species.

It doesn't matter Elon will buy more or sell them. but he also had to know where the position he was in right now. what I mean is, he is right now in the center of attention of the crypto community, I'm sure there will be consequences if he does anything significantly, imo

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Quote from: The Sceptical Chymist on May 17, 2021, 08:39:38 AM

Quote from: KaliLinux on May 17, 2021, 04:17:39 AM

We understand that the crypto market has its ups and downs but the little push by Elon musk will soon blow over and the market returns back to normalcy even if it will take some years as usual but at least I hope Investors learn from this and not quick to react to all such kind of news.

That's what I'm thinking--bitcoin has survived worse news than this, although in this case it's more than news if Musk dumped a ton of bitcoin onto the market all at once. I just looked at preev and the price is just over $44k, which is quite a drop. I don't know if this is a case of people following Elon Musk and selling bitcoin or if it was his sale or something else that caused it. Who knows. Hopefully it won't take too long for bitcoin to rebound, because I don't think the bull market is over. Not by a long shot.

As far as Elon Musk's reputation goes, I don't think he damaged it by anything he's done with bitcoin. It does look like he hadn't thought things through before making statements and his buying and selling, but maybe he's just impulsive. I don't know much about the guy.

Nah, Elon is the brain behind a successful company like Tesla, I don't believe he didn't think things through, he is too intelligent to fall in that category, what I feel is, Elon loves meme coin and he view the whole crypto space as such, a fun place where little tweets can make a huge impact on the market, he found a play toy,

Don't be surprised, after all this has gone down he will make another tweet how he misunderstood the whole btc mining thing, and the whole space will go crazy again, honestly, I want to knock some sense into the head of those followers.

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Quote from: Twentyonepaylots on May 22, 2021, 05:29:04 PM

See it as an opportunity to buy more and hold more bitcoins than if you had bought it when it's still high. We can't really blame Elon for selling his coins for whatever reason he wants to because before being a visionary, he was a regular person just like us. And admittedly regular me would also sell my bitcoins for fiat just so I can spend it on something that I am really passionate about. Let this selling not be something that would make us forget about what Elon is all about, which is primarily technological advancement and helping us become a space-faring species.

IMO, it will be beneficial for Bitcoin in the long run to get rid of manipulators such as Elon Musk. Let him sell his coins and move his wealth to some of the shitcoins such as Doge. Temporarily the Bitcoin exchange rates may fall due to the massive amounts involved here, but eventually the market will stabilize. And once the market stabilizes after the exit of Elon Musk, we will be ready for the next bull run. IMO, Elon's entry in to cryptocurrency has so far done more harm than good for BTC. The sooner he makes his exit, that much better.

Twentyonepaylots

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See it as an opportunity to buy more and hold more bitcoins than if you had bought it when it's still high. We can't really blame Elon for selling his coins for whatever reason he wants to because before being a visionary, he was a regular person just like us. And admittedly regular me would also sell my bitcoins for fiat just so I can spend it on something that I am really passionate about. Let this selling not be something that would make us forget about what Elon is all about, which is primarily technological advancement and helping us become a space-faring species.

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Quote from: rajakulam on May 18, 2021, 02:32:17 AM

In my opinion, of course it has an effect even though it doesn't have too big an impact on the decline in bitcoin prices, because bitcoin is not only supported by Elon Musk but there are still many other entrepreneurs who invest in bitcoin in large, I hope that Elon Musk will no longer make twits carelessly so that it is bad for the current cryptocurrency price movements.

He isn't making tweets carelessly instead people are giving him too much credit at times but also criticizing him more than he deserves which might be the reason that Elon might opt out of this all because no one wants to hear bad about himself everywhere and right now people have been doing that non-stop. We as a community needs to do better and understand that even if Elon sells all his bitcoins, he cannot bring the market that much down.

Quote from: Haunebu on May 18, 2021, 03:37:32 AM

This is how the world works. Scolding someone who earned money legitimately in a smart way is childish in my opinion.

This also tells us how toxic our crypto community is outside bitcointalk. I have seen some of the worst and first time heard slangs on twitter used against Musk and I am not defending him but come on guys just because Tesla doesn't accept BTC doesn't mean he was the reason for the dump. People have lost huge amounts and some even lost their lives during this time which is really unfortunate but we cannot blame Elon alone for all this.

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Quote from: paxmao on May 17, 2021, 03:49:39 AM

It takes a life to build a reputation, Elon is very actively working on the basis that crypto users and hodlers are just stupid. In my view he is completely illiterate in so far as crypto is concerned and he is exchanging a limited and valuable asset (his reputation) for a sum that may look like a lot to many, but has no relevance ¡n his life. I really thought that this guy knew a bit more about business.

Elon was successful with what he wanted to achieve, he made profits out of playing with the investors but it may slap him back with his future projects because he stabbed the people who trusted him once will never go back to him. While bitcoin is not new to these manipulation and for sure the price will stop but no one is going to stop the bounce back which may happen in months or years later but it will.

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Quote from: cute nmp on May 21, 2021, 02:58:42 PM

Everyone related to crytocurrency by now knows that bitcoin will no longer be accepted as a means of payment by Tesla. But the company did not announced that they will sell any of the bitcoins they purchased .It was even confirm by Elon musk himself that they did not sell any btc as of recent.

I think that OP forgotten that part of the story which is pretty typical of FUD spreaders that wants to insinuate panic that makes people do stupid things. Also, I don't get how OP missed that part because the suspension and them saying that they won't sell was on the same Tweet. Are they really that blind that the only one that they see is the parts that furthers their agenda.

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Quote from: jaysabi on May 21, 2021, 04:05:59 PM

Not necessarily. All bitcoin has going for it is perception, which is why maximalists battle so hard to try and control the narrative. If growing numbers of people lose confidence in bitcoin or don't believe it will always increase in value, it won't. The perception makes the reality. So any loss of influence is a blow to the future of bitcoin.

Agreed. But when Elon has openly stated that Bitcoin is inefficient, then we can't expect Tesla to take a positive view of Bitcoin. Loss of influence is a blow for Bitcoin and there is no doubt about it. A part of the recent dip can also be attributed to this. But the question here is whether this setback is permanent or temporary. Can Bitcoin recover to the previous levels, without any help from Tesla or Elon? Now I am also not sure about this, and we need to watch the price movements for the next few months to reach a conclusion.

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Quote from: noorammak on May 18, 2021, 08:53:26 AM

It doesn't matter if Tesla sells off their Bitcoins because the crypto market is decentralized and it can't be in decline forever because of an institution.
If Tesla doesn't buy Bitcoin, other hedge funds will invest in this cryptocurrency. Microstrategy is an investment fund that actively buys Bitcoin and cryptocurrencies as they consistently bottom out. I think they will make a significant profit as we know that Bitcoin will continue to appreciate in the long term.

Not necessarily. All bitcoin has going for it is perception, which is why maximalists battle so hard to try and control the narrative. If growing numbers of people lose confidence in bitcoin or don't believe it will always increase in value, it won't. The perception makes the reality. So any loss of influence is a blow to the future of bitcoin.

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Quote from: Ludmilla_rose1995 on May 18, 2021, 02:30:50 PM

Better that Elon musk gets out of the bitcoin market. because he can manipulate the crypto market easily. Previously he had dropped the bitcoin price to the $ 42K level, and then he jacks it back up with a tweet saying that "Tesla hasn't sold any bitcoins yet". so the bitcoin price rallied back at the $ 45K level. He only played the market for his gain.

And then again, single tweet or news around him creates impact to this market. It's all in his hands as investors who followed him are doing the damages.

It's better for now that he leave the market and let bitcoin to progress naturally, with his vocal participation makes people blindly moved.

Currently the value of Bitcoin is moving down again $36K, best to assess every plan that you have to lessen the chance of being wrecked out.

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Everyone related to crytocurrency by now knows that bitcoin will no longer be accepted as a means of payment by Tesla. But the company did not announced that they will sell any of the bitcoins they purchased .It was even confirm by Elon musk himself that they did not sell any btc as of recent.

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I will be really surprised if TESLA sells all their bitcoins. A very important ideology of Tesla behind buying Bitcoin was also to remain profit positive for years to come until they can become profit positive using their operations. Even in the last quarter, their profit was solely due to the sale of some bitcoins. Moreover, when Microstrategy is buying more and more bitcoin and averaging itself at dips it would be a surprise to have another corporate that has an entirely different ideology. I think it's just Elon's way of blabbering around on the internet, actually, there is going to be on sale. Moreover mentioning the company's internal operation on Twitter platform is illegal too, I don't think Elon would give any such hints which could cause him to fall into legal trouble.

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Better that Elon musk gets out of the bitcoin market. because he can manipulate the crypto market easily. Previously he had dropped the bitcoin price to the $ 42K level, and then he jacks it back up with a tweet saying that "Tesla hasn't sold any bitcoins yet". so the bitcoin price rallied back at the $ 45K level. He only played the market for his gain.

Argoo

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After all, some wanted Elon Musk to no longer tweet about bitcoins? After he sells them, he is unlikely to want to write about them. Even if this continues, I don't think people and the market will react as painfully to his tweets.
It's a pity of course. Elon Musk has disappointed many with the latest negative statements about bitcoin. However, the invented flaws in Bitcoin mining are still better than if Elon Musk would speak negatively about Bitcoin and its prospects for existence.

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