<story><title>$365B wiped off cryptocurrency market after Tesla stops accepting Bitcoin</title><url>https://www.cnbc.com/2021/05/13/bitcoin-btc-price-falls-after-tesla-stops-car-purchases-with-crypto.html</url></story><parent_chain><item><author>pkulak</author><text>Cus he&amp;#x27;s not that bright. Isn&amp;#x27;t this the elephant in the room that no one wants to consider? Why do we have to start with the assumption that Musk is a genius, then work back from that?&lt;p&gt;The dude thought covid would go away last May.&lt;p&gt;He thinks it&amp;#x27;s easier to make Mars habitable than it is to keep the Earth habitable.&lt;p&gt;He&amp;#x27;s thought that full self driving was 6 months away for literally 4 years now.&lt;p&gt;And he didn&amp;#x27;t really understand what Bitcoin was when he sank 1.5 billion into it.</text></item><item><author>sakopov</author><text>Very perplexing behavior from Musk, I must say. Bitcoin&amp;#x27;s energy consumption has been front-and-center for a few years now and even more so when the bull market got hot. How does Musk decide to throw $1.5 billion worth of Tesla&amp;#x27;s cash into BTC without acknowledging this? I was expecting a little bit more due-diligence from him, but he&amp;#x27;s been absolutely consumed by crypto markets in general.</text></item></parent_chain><comment><author>onion2k</author><text>SpaceX wins lots of space contracts with the help of Musk&amp;#x27;s &amp;quot;Occupy Mars&amp;quot; marketing.&lt;p&gt;Tesla sells lots of cars on the promise of self-driving in the marketing.&lt;p&gt;Musk bought BTC, single-handedly pumped the price of BTC, and then sold at a huge profit.&lt;p&gt;I don&amp;#x27;t think he&amp;#x27;s a genius but Musk is definitely not stupid. He&amp;#x27;s just not playing the obvious game you think he&amp;#x27;s playing.</text></comment>
<story><title>$365B wiped off cryptocurrency market after Tesla stops accepting Bitcoin</title><url>https://www.cnbc.com/2021/05/13/bitcoin-btc-price-falls-after-tesla-stops-car-purchases-with-crypto.html</url></story><parent_chain><item><author>pkulak</author><text>Cus he&amp;#x27;s not that bright. Isn&amp;#x27;t this the elephant in the room that no one wants to consider? Why do we have to start with the assumption that Musk is a genius, then work back from that?&lt;p&gt;The dude thought covid would go away last May.&lt;p&gt;He thinks it&amp;#x27;s easier to make Mars habitable than it is to keep the Earth habitable.&lt;p&gt;He&amp;#x27;s thought that full self driving was 6 months away for literally 4 years now.&lt;p&gt;And he didn&amp;#x27;t really understand what Bitcoin was when he sank 1.5 billion into it.</text></item><item><author>sakopov</author><text>Very perplexing behavior from Musk, I must say. Bitcoin&amp;#x27;s energy consumption has been front-and-center for a few years now and even more so when the bull market got hot. How does Musk decide to throw $1.5 billion worth of Tesla&amp;#x27;s cash into BTC without acknowledging this? I was expecting a little bit more due-diligence from him, but he&amp;#x27;s been absolutely consumed by crypto markets in general.</text></item></parent_chain><comment><author>reader_mode</author><text>I mean you will see people here on this forum argue that bitcoin mostly uses up peak energy and unused capacity and such bullshit nonsense - it&amp;#x27;s frankly not that hard to spin a narrative that could sound plausable.&lt;p&gt;But then when you see people firing up coal plants in your back yard just to mine BTC (as opposed to China) reality suddenly kicks in and it&amp;#x27;s hard to spin bullshit arround that. Regulators are really dropping the ball on crypto - corporate entities should not be allowed to fuel this shit.</text></comment>