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I'm thrilled at the decision. There are things I like and dislike about the Muskiverse, and the decision to promote Bitcoin was always a sketchy one for me. Wh

I'm thrilled at the decision. There are things I like and dislike about the Muskiverse, and the decision to promote Bitcoin was always a sketchy one for me. What this new decision reinforces, to me, is that Musk is able to admit a mistake and do a 180. That is very good.

libertine 5y ago
>What this new decision reinforces, to me, is that Musk is able to admit a mistake and do a 180. That is very good. I can accept that, yet doesn't take from the fact that it was poorly thought... it lasted what, 3 months? I perceive them as the leaders of EV innovation, and I think their actions were in line with that, and I thought they promoted something other then BTC when they took the stance - Bitcoin just happened to be the "gold standard". Now they back tracked showing concern for the type of energy consumption, and are looking into other cryptos that are more energy efficient, but are not dumping BTC, because maybe if BTC goes greener it'll be cool again... are they selling EVs or are they into speculative trading?
heywherelogingo 5y ago
You think Musk hadn't thought a few months ahead?
afavour 5y ago
> is that Musk is able to admit a mistake and do a 180 He's still hedging somewhat by saying "in the last few months" because it makes it sound like it was a sensible decision when Tesla decided to get in, then energy usage went crazy. In reality this was obvious long before Tesla bought into bitcoin. I'm sure many within the company were entirely aware of this but Elon rules all. One of the things that worries me most about Tesla is the extent to which a billionaire with an absurd fondness for memes can do whatever he wants. Giving himself the title "Technoking" and his CFO "Master of Coin" is pretty harmless but it's also pretty stupid and makes it seem like there are no adults in the room. The bitcoin thing is the exact same dynamic except with actual damage involved.
blueblisters 5y ago
I perceive Elon as a showman. Tesla says it doesn't spend anything on marketing. But whatever Tesla is paying Elon is their marketing budget. Because he keeps Tesla perpetually in the news. It's hard to believe that the person who founded Tesla largely in the belief that it's a greener option to ICE vehicle just realized that Bitcoin wastes a shit ton of energy.
- MetaWhirledPeas 5y ago
  I agree about the showman bit. I really like that about Tesla. Traditional marketing has become invasive and exploitative, and it seems to drag companies into the muck.
- uniqueid 5y ago
  Clearly Musk didn't just realize realize the problem this week, but his SNL appearance kicked off a round of criticism (eg: 'Some More News' https://youtu.be/5pNL7MlUpmI https://youtu.be/5pNL7MlUpmI) and the Tesla announcement is probably an attempt to get ahead of it.
freeflight 5y ago
> What this new decision reinforces, to me, is that Musk is able to admit a mistake and do a 180. That is very good. That's a very generous interpretation of the situation considering not too long ago Musk was a very vocal defender of BC allegedly using 70% renewable energy and thus being very green. I doubt Musk would make these kinds of investments and commitments based on half-arsed understanding what's going on, the much more likely explanation is that he uses his social media reach to play pump and dump games with cryptocurrencies.

libertine 5y ago

>What this new decision reinforces, to me, is that Musk is able to admit a mistake and do a 180. That is very good. I can accept that, yet doesn't take from the fact that it was poorly thought... it lasted what, 3 months? I perceive them as the leaders of EV innovation, and I think their actions were in line with that, and I thought they promoted something other then BTC when they took the stance - Bitcoin just happened to be the "gold standard". Now they back tracked showing concern for the type of energy consumption, and are looking into other cryptos that are more energy efficient, but are not dumping BTC, because maybe if BTC goes greener it'll be cool again... are they selling EVs or are they into speculative trading?

heywherelogingo 5y ago

You think Musk hadn't thought a few months ahead?

afavour 5y ago

> is that Musk is able to admit a mistake and do a 180 He's still hedging somewhat by saying "in the last few months" because it makes it sound like it was a sensible decision when Tesla decided to get in, then energy usage went crazy. In reality this was obvious long before Tesla bought into bitcoin. I'm sure many within the company were entirely aware of this but Elon rules all. One of the things that worries me most about Tesla is the extent to which a billionaire with an absurd fondness for memes can do whatever he wants. Giving himself the title "Technoking" and his CFO "Master of Coin" is pretty harmless but it's also pretty stupid and makes it seem like there are no adults in the room. The bitcoin thing is the exact same dynamic except with actual damage involved.

blueblisters 5y ago

I perceive Elon as a showman. Tesla says it doesn't spend anything on marketing. But whatever Tesla is paying Elon is their marketing budget. Because he keeps Tesla perpetually in the news. It's hard to believe that the person who founded Tesla largely in the belief that it's a greener option to ICE vehicle just realized that Bitcoin wastes a shit ton of energy.

MetaWhirledPeas 5y ago
I agree about the showman bit. I really like that about Tesla. Traditional marketing has become invasive and exploitative, and it seems to drag companies into the muck.
uniqueid 5y ago
Clearly Musk didn't just realize realize the problem this week, but his SNL appearance kicked off a round of criticism (eg: 'Some More News' https://youtu.be/5pNL7MlUpmI https://youtu.be/5pNL7MlUpmI) and the Tesla announcement is probably an attempt to get ahead of it.

freeflight 5y ago

> What this new decision reinforces, to me, is that Musk is able to admit a mistake and do a 180. That is very good. That's a very generous interpretation of the situation considering not too long ago Musk was a very vocal defender of BC allegedly using 70% renewable energy and thus being very green. I doubt Musk would make these kinds of investments and commitments based on half-arsed understanding what's going on, the much more likely explanation is that he uses his social media reach to play pump and dump games with cryptocurrencies.