Recent announcements and actions by Bitcoin mining stability by Elon Musk raise questions about the logic and motivation of Tesla’s TechnoKing. Is it possible that Musk is playing a calculated marketing game to introduce Tesla Mining Solution?
The world of bitcoin mining according to Musk
Once upon a time, for 49 days, the world was able to buy Tesla with bitcoin. Then, on 12 May, Elon Musk posted the now-infamous tweet saying Tesla “suspends” vehicle purchases using bitcoin Due to the increasing use of fossil fuels for bitcoin mining and transactions.
It was a curious announcement. Did Musk not know about the bitcoin mining footprint in March? Announcing that Tesla will start accepting bitcoinsThe Or when he $ 1.5 billion worth of purchases Of cryptocurrency?
Another question that must be addressed – how many Teslas were actually bought with bitcoins during those glorious 49 days? There is no data available from Tesla on this, but one can surmise that not a single Tesla was paid with bitcoin. This makes Musk’s announcement even more curious. What prompted him to reverse his earlier decision to accept bitcoin?
To add to the confusion and avoid scrutiny for bitcoin’s free fall in later days, Musk assured the market on May 17 that Tesla had “not sold any bitcoins”.
To clarify the speculation, Tesla has not sold any bitcoins
– Elon Musk (@elonmusk) 17 May, 2021
But the green genie had come out of the bottle. Bitcoin mining became the conversation that took the plunge. For more than a week Musk just sat on one side and let the discussion go on for a while Bitcoin lost $ 250 billion in market value.
Then, on 20 May, Musk underwent an epiphany; Suddenly he came up with a solution to the reputation crisis created for bitcoin: miners would “post audited numbers of renewable energy vs. no.”
I agree that this can be done * over time *, but the recent excessive energy use growth could not possibly have been done so rapidly with renewable energy.
This question is easily resolved if the top 10 hashing organizations only post audited numbers of renewable energy vs. not.
– Elon Musk (@elonmusk) 20 May 2021
From there, things proceeded surprisingly quickly. It only took three days to arrange a “secret meeting” of Michael Sailor of Musk and Microstrategy with top North American miners. In the meeting, Musk reassures miners Not only to publish their energy report but also to form the Bitcoin Mining Council, which Noise and criticism equally attracted.
Tesla to mine greener bitcoin
The question remains – what is Musk’s final game here? Musk is so calculated as to assume that the whole case is not coincidental.
There are two things we can say about Musk. First, he truly believes in the importance of green, renewable energy for the future of the planet; Therefore electric cars and solar panels are leading the markets. If our collective effort to green up our planet fails – it also has an exit strategy – transfer to Mars. So it can be assumed that with a high degree of certainty, Musk launched a campaign to “clean up” bitcoin mining. He has enough leverage, power and influence to make a real difference in how bitcoin and other cryptocurrencies are mined.
Musk’s second point is that he is a builder. All its current operations are churning on tangible products, whether cars, rockets, or wall batteries; He knows his way around hardware.
So if we try to put all the pieces of the last two weeks together, wouldn’t it be reasonable to assume that Musk actually plans to introduce a Tesla mining solution? He has the knowledge and resources, and now single-handedly creating a crisis-need in the crypto market for a sustainable solution for mining, coming up with one would position him as the savior.
Conversations about the bitcoin energy problem will not disappear. This has to be resolved. Is there anyone more suitable and capable than Musk himself to solve this? Probably not, and Musk knows it.
Will Musk Get Into Bitcoin Mining? Will Tesla offer “clean” mining solutions? Tell us what you think in the comments section below.
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