Four days after Elon Musk announced that Tesla will no more accept bitcoin as payment option, other investors are still furious with the billionaire, and a confrontation played out on Sunday.
The faceoff was triggered by podcast host and founder of WhatBitcoinDid, Peter McCormack, in a statement on Twitter. He said Musk’s decision caused damage to Tesla because he held a lot of influence with his over 35 million followers on Twitter. Since Musk’s Tesla dumped Bitcoin, the crypto has remained down above 7 percent.
Tesla had cited the high consumption of energy by bitcoin as reasons for dumping it, but McCormack labelled it false statement which caused 30 percent decline in people’s investment and capital available for everyday necessities.
He said the damage was temporal, but Musk is increasing the work load of many bitcoiners, adding that, “It might be all fun and games for you (Musk) but the impact on others is real. Basically, you are being a bit of a dick mate.
“With great power comes great responsibility, yadda yadda. There are many smart people in #Bitcoin who have spent years trying to solve very hard problems. They don’t need to be wasting time countering the crap you are disseminating.
“This is time that can be spent building and educating. And we have a lot of work to do. Governments continue to print money and ever-increasing rates (remember why you bought bitcoin?)
“You probably won’t see this but if you do, perhaps we can connect you with some of the very smart people in #bitcoin to help improve your knowledge in the obvious gaps which exist.” The bitcoin investor said.
Responding to McCormack, the founder of the aerospace company described the Podcaster’s statement as obnoxious, and such utterances might force him to fully support Dogecoin.
“Obnoxious threads like this make me want to go all in on Doge” Musk Tweeted.
Ripples Nigeria had reported that Tesla said it is considering other crypto to replace bitcoin, and Dogecoin has been tipped as an option due to Musk’s backing of the Doge.
The second richest man added that bitcoin is centralised, thereby rubbishing the decentralise claim pushed by bitcoin investors and miners, “Bitcoin is actually highly centralized, with supermajority controlled by handful of big mining (aka hashing) companies. A single coal mine in Xinjiang flooded, almost killing miners, and Bitcoin hash rate dropped 35%. Sound “decentralized” to you?”
Musk said he knows how money works better than cryptocurrency experts think, “Hey cryptocurrency “experts”, ever heard of PayPal? It’s possible … maybe … that I know than you realize about how money works.”
In his response to Musk’s Pay Pal tweet, McCormack said, “PayPal, LMAO. You mean the company which froze Wikileaks account? The company which routinely censors payments?”
The founder of AllianceBlock, Amber Ghaddar, responded by describing Musk as being more volatile than bitcoin, “Mr Musk, with due respect for the CEO of a Fortune 500 company you seem to lac due diligence process… & you are definitely more volatile than $BTC… quite an explosive combination if I may say.”
By Fakoyejo Ayodeji…
Join the conversation
INVESTIGATION… Ten years after, communities count losses as AfDB, Cross River govt abandon road project
Ten years after the Cross River State government and African Development Bank (AFDB) jointly awarded the Yahe-Wanokom-Wanikade-Benue border road for...
INVESTIGATION….N.3bn down the drain: Why water projects for Enugu communities don’t work
In this concluding part, ARINZE CHIJIOKE talks about some of the projects that are serving the people and how various WASH programmes have failed to tackle...
INVESTIGATION…PARKVIEW ESTATE: Exclusive images of how billionaire property developer incurred Lagos govt‘s anger
Many have seen the demolished building, but not many know the circumstances that led to the teardown of the about...
INVESTIGATION… N.3bn down the drain, as Enugu communities suffer from dry taps
In November 2020, three organizations and the Enugu State government celebrated the completion of N300 million worth of projects that were expected...
INVESTIGATION… How herdsmen crisis compounds woes of already deprived Ogun communities
Earlier in January, the Nigerian media space was awash with reports of violence between herders and farmers across the country....