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Tesla CEO Elon Musk Jokes About Bitcoin on Twitter With 23 Million Followers

Tesla ceo elon musk jokes about bitcoin on twitter with 23 million followers

Tesla CEO Elon Musk Jokes About Bitcoin on Twitter With 23 Million Followers


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In a lighthearted tweet, Elon Musk referenced bitcoin in a tweet yesterday in response to a Twitter user.

He also tagged his girlfriend Grimes in the tweet, who is a successful Canadian singer and songwriter. Twitter momentarily locked the Tesla founder’s account, as well, believing that his account may have been compromised.

Context of Tweet

Twitter user @vicentes had responded to an Elon Musk tweet –  where Musk professed his love for anime – with a serious question regarding whether Tesla accounts would begin utilizing 2-factor authentication. Elon Musk saw the opportunity for a joke regarding cryptocurrency, considering that many cryptocurrency companies and exchanges such as Coinbase, Binance, and countless others, utilize 2-factor authentication for security purposes. The tweet also used Sailor Moon, the lead character from an extremely successful 1990s manga series that is still popular to this day, wearing clothes endorsing bitcoin, in front of a bitcoin logo. Grimes responded to the tweet, joking that she would “prefer that free ethereum u promised”.

The tweet went viral, garnering thousands of likes and retweets within hours, and leading many cryptocurrency enthusiasts to inquire about whether Tesla would be accepting certain cryptocurrencies, and others took the opportunity to advertise cryptocurrency projects that they believed in.

After the exchange, Elon Musk revealed that Twitter had actually locked his account – which has over 20 million followers – over concerns that he had been hacked over his tweets.  He then responded to the user @vicentes in a more serious manner, elaborating “working on it”, with regards to 2-factor authentication.

Recent Controversies

Musk recently caused a tremendous amount of controversy on Twitter months ago when he tweeted that he could take Tesla private at $420 a share – which some believed was a humorous reference to marijuana. Many investors also believed that the tweet confirmed that the Tesla founder was far too focused on Tesla short-sellers. The company’s shares were affected dramatically after the SEC then sued Musk for securities fraud, falling over 10% in one day.

Musk’s recent lighthearted tweets might be the result of the fact that he was able to reach a settlement with the SEC. The settlement would not only involve a $20 million dollar fine, but would also force Musk to step aside as chairman of the company. Many were surprised at the fact that Musk was able to reach a resolution, considering that he had previously walked away from a deal that many considered much more favorable.

Featured Image from Joe Rogan Experience/YouTube

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Published at Tue, 23 Oct 2018 17:15:45 +0000

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Why The Bitcoin Miners Are Destined To Lose The Hard Fork Wars

Excuse me for indulging myself, but there are many points of view towards what may be an impending hard fork for bitcoin. This may come across as a loosely coherent ramble, but at least it is short and sweet. There is enough here to put it on wax, so here’s what I see, in the big picture.

This is in response to the Medium post created by Peter Rizun yesterday, outlining how this hard fork may play out, and essentially showing a way BTU wins, in the long run. (Roger Ver tweeted his support for this post, so I read it and posted most of these thoughts in the comments section, and here we are.)

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In my humble opinion, the problem I see coming is if BCU breaks off, it will become an altcoin, as has been established by the bitcoin exchange establishment. These miners can mine all the blocks they want, if the greater community doesn’t trust their developers, doesn’t want an altcoin, and isn’t buying BCU, it is irrelevant by design.

The market will decide who wins, and anybody who is not a miner wants to stick with Core and their chain. The miners are one thing, the market is something else. The miners might win a battle, but they would lose that war. They should keep that in mind.

Without those miners, BTC would definitely take a hit, but the Core developers could then quickly move to a 2MB upgrade and get SegWit and The Lightning Network approved, creating greater bitcoin functionality, from a trusted group of developers, and an incredible upside in off-chain scalability that an on-chain approach would be hard pressed to match. All without the centralization and control of the miners.

segwit-logo

Users will follow anyone who is going to implement SegWit. The market is sold on this concept as a boon to bitcoin functionality. BTU has not done a very good sales job at all regarding their position. Scaling away from miners will hurt mining, but it will let bitcoin reach its full potential.

BTU needs to sell their mined Bitcoins to a market. I’m not seeing much of a market for BTU, outside of the miners and BTU investors, themselves. The miners do not control bitcoin, and even Core does not control bitcoin. Maybe, just maybe, The People control bitcoin’s future growth? Anyone who thinks the market doesn’t have a handle on who each side is looking out for here is fooling themselves.

Just seeing how the community is responding, keeping my ear to the ground, the greater community will not follow the miners, who are primarily looking to turn a digital buck in bitcoin. They will follow Core, who is looking after the greater good. Miners will lose that tug of war.

Bitcoin miners vs Bitcoin core

It has become clear that BTU developers cannot replace BTC developers, as the recent bugs have shown the world, but BTC miners can be replaced. There are plenty of people around the world who want that job, and can do it just as well.

This power struggle is really temporary in nature. People will not follow miners looking for profit first, and who want to hijack the entire system, from now on, in order to get it. That is not leadership.

At the end of the day, The People will decide to back Core. The only question is when will the dissenting miners, clouded by visions of endless bitcoin profiteering, figure this fact out?

If the miners didn’t get the memo, that the vast majority of the market will stick with Core and not dump BTC for any BTU altcoin, use this. Like bitcoin itself, it’s far from perfect, but it’ll do just fine.

How do you think a hard fork would play out? Should there be an increase in block size? Let us know what you think below!

Images courtesy of bitcoin Core, AdobeStock

The post Why The Bitcoin Miners Are Destined To Lose The Hard Fork Wars appeared first on Bitcoinist.com.

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