Last month, Elon Musk and Jack Dorsey announced on Twitter that they would be leading a panel at “The B Word” to talk Bitcoin. Today’s the day, and the talk is titled “Bitcoin As A Tool For Economic Empowerment”. It’s happening live on the The B Word’s website, and you can follow our liveblog here.
I don’t blame you if you had a hard time following a recent Twitter exchange between Tesla CEO Elon Musk and Twitter CEO Jack Dorsey. Here’s a translation: Elon is planning to sit down with Jack to talk about Bitcoin at an upcoming Bitcoin event called ‘The B Word’, and the conversation will likely revolve around Bitcoin’s energy use.
Elon Musk wasn’t exactly the most popular person amongst Bitcoiners last week. He spent several days criticizing Bitcoin’s energy usage (so much so that he walked back Tesla’s earlier decision to accept Bitcoin for vehicles), and pumping up his favorite altcoin, Dogecoin. Now, as the Bitcoin market takes a massive plunge, Elon says that he’s not selling Tesla’s Bitcoin holdings.
Elon Musk announced this week that Tesla would pause accepting Bitcoin for Tesla purchases, citing the cryptocurrency’s energy usage. He also specifically criticized one fossil fuel power plant in New York, which as Arstechnica reported, was revived to mine Bitcoin. Now the firm behind that plant, Greenidge, is already making moves.
I don’t know what it is, but we’re missing something on the recent decision by Tesla and Elon Musk to walk back the company’s decision to accept Bitcoin as payment for Tesla vehicles. The series of events so far just don’t make sense, for many reasons. Let’s walk through it.
