Elon musk blockchain technology

Elon Musk, who is known to impact the price of cryptocurrencies with just his tweets, has clarified that he is not Satoshi Nakamoto, the anonymous person or a group of people believed to have invented Bitcoin. While Tesla CEO Elon Musk still remains one of the most significant personalities to support cryptocurrencies, he stressed in a podcast with Lex Fridman that he did not invent Bitcoin while arguing that the identity of the person is not as important as the evolution of ideas that led to the cryptocurrency. However, Musk, who was previously suggested to be the Bitcoin inventor, has outrightly denied the claim. Noting that Musk had dismissed the suggestions back in , Fridman asked if the SpaceX founder would tell the world if he were the Bitcoin inventor.

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WATCH RELATED VIDEO: Elon Musk explains his views on Bitcoin (B Word Conference)

‘SNL’: Elon Musk Admits Dogecoin Is ‘A Hustle’ on Weekend Update

We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from.

To learn more or opt-out, read our Cookie Policy. As Elon Musk tweets go, so goes the crypto market. The billionaire and Tesla CEO has been tweeting about crypto a lot, too, sending the price of bitcoin — as well as dogecoin — up and down with fewer than characters. They also raise questions about the solidity of a market that can be so easily swayed, especially as retail investors increasingly flock to cryptocurrencies.

In April, the cryptocurrency exchange platform Coinbase became the first major cryptocurrency company to go public in the US, signifying the mainstreaming of blockchain-based currencies like bitcoin, ethereum, and dogecoin.

The current price roller coaster got started back in May. Musk tweeted that Tesla would no longer accept bitcoin as payment due to environmental concerns about its heavy energy use, a reversal of its acceptance of the marquee cryptocurrency just two months earlier. As a result, the price of bitcoin dropped around 15 percent. In a response to a tweet from someone with the handle CryptoWhale, Musk a few days later suggested that Tesla would sell its cryptocurrency holdings — or may have already done so.

That tweet made the price of bitcoin drop to its lowest level since February. Spoke with North American Bitcoin miners. Potentially promising. Musk didn't stop there: On June 3, he tweeted a meme about breaking up with bitcoin, and the price of bitcoin declined 5 percent. Bitcoin pic. This is inaccurate. A similar tweet later in May also caused dogecoin prices to rise.

Earlier in the month, SpaceX said it would accept the meme-inspired coin as payment for sending payload trips to the moon. The company also said it would be sending a kilogram cube satellite named DOGE-1 to the moon.

The sale made it possible for Tesla to turn a record profit. Indeed, Tesla made more selling bitcoin than cars. Cryptocurrencies like bitcoin are not subject to US securities law and receive less oversight than stocks. Speaking of fair: Musk is not the only one potentially making money off his crypto tweets.

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By choosing I Accept , you consent to our use of cookies and other tracking technologies. Financial gifts from readers help keep Vox free. Please consider making a contribution today. When Elon Musk tweets, crypto prices move.

Reddit Pocket Flipboard Email. Indeed — Elon Musk elonmusk May 16, Next Up on Recode. The Latest on Vox. This is how much meat and dairy hurt the climate By Kenny Torrella. A new Supreme Court case could make it nearly impossible to stop racial gerrymanders By Ian Millhiser.

What is Baby Doge? Meet Elon Musk’s new favourite cryptocurrency

The electric carmaker said in May that it would no longer accept the cryptocurrency for purchases. It had cited concerns over the environmental impact of Bitcoin mining which uses huge amounts of electricity. That move came less than two months after the company began accepting the world's biggest digital currency as payment. Some Tesla investors and environmentalists attacked Tesla's decision earlier this year to start accepting Bitcoin as payment. The dispute highlighted the issue of what are seen as environmentally-friendly electric vehicles being purchased using an energy-intensive cryptocurrency. Given that Bitcoin mining uses large amounts of electricity, concerns have been raised over whether the energy is from fossil fuel or renewable sources.

The Tesla and Twitter CEOs have backed research from Cathie Wood's ARK that says mining the cryptocurrency can incentivise green energy.

Elon Musk owns only three cryptocurrencies, and one of them is Dogecoin

NFT profile pictures are shown in a hexagonal shape, in contrast with the regular circle shape. The new Twitter feature soon drew interest. However, not everyone is a fan, with some hesitant to pay for the monthly subscription service to get their NFT profile photo verified. It also is unclear if Twitter will extend the feature to all users. Elon Musk, chief executive at Tesla Inc. TSLA, Musk, in the past, has been impersonated by scammers who deceived consumers by telling them that they are giving away cryptocurrencies. Some Twitter users also made fun of the hexagonal shape where the verified NFT profile pictures are displayed in on the platform. Purchasers of NFTs obtain ownership to digital assets, such as digital artworks, that are stored on the blockchain.

Why does Elon Musk say Bitcoin is bad for the environment?

elon musk blockchain technology

Musk has been a figurehead in the crypto space for a while with his outlandish tweets — but what crypto does he actually own? Outside of aerospace and electric cars, Elon Musk has become a prominent figure in the cryptocurrency space. Due to his past at PayPal, he had always been interested in payment systems and their evolution. He could perceive the decentralization of cryptocurrencies as one of the objectives that PayPal was once trying to achieve, all while recognizing that regulation in the space is equally necessary. All his Doge tweeting has always suggested he owns the meme coin, which he publicly confirmed multiple times too.

Tesla chief Elon Musk said on Friday the electric carmaker will accept the cryptocurrency Dogecoin as payment for its merchandise. The meme-based crypto jumped on Friday as much as 14 per cent in 24 hours, according to pricing from Coinmarketcap.

Dogecoin surges after Elon Musk says the crypto can be used to purchase Tesla goods

Credits: Reuters. But how could you sell it - on the blockchain, dominated by cryptocurrency Ethereum. Musk in end-October had revealed that the only cryptocurrencies he holds are Bitcoin, Ethereum and Dogecoin and none of the spinoffs, including cryptocurrencies named after him. Maxis believe that all other digital currencies are inferior to Bitcoin. Bitcoin maximalists also believe that these other cryptocurrencies—called altcoins—are unnecessary and inferior. Pichai in a recent Bloomberg interview revealed that he does not own any cryptocurrency.

New online game explores next big cryptocurrency players including Elon Musk, Björk and Tom Brady

We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our Cookie Policy. Potentially promising. Emails to each of the companies Saylor referenced were not immediately returned Monday, but a spokesperson from Galaxy confirmed to Bloomberg that a representative participated in the call. Several other of the companies mentioned tweeted their support for the plan. This is the way!

PDF | Elon Musk, one of the richest individuals in the world, is considered a technological visionary and has a social network of over 69 million.

Elon Musk on crypto: to the mooooonnn! And back again

Fred Lambert. Elon Musk announced that Tesla will start to accept Doge, a meme cryptocurrency, to buy some merchandise on its website. Over the last year, Tesla has been delving deep into the cryptocurrency world. Shortly after, the automaker started accepting the cryptocurrency as payment on new vehicles.

When Elon Musk tweets, crypto prices move


Elon Musk's announcement Wednesday that Tesla would no longer accept bitcoin as a payment for purchase of its vehicles caused investors to hit the breaks on the booming cryptocurrency market. Musk said his decision had to do with bitcoin's growing environmental concerns , but some questioned whether that was really the case, considering that Tesla's core products are environmentally friendly electric cars and solar energy panels and it is no secret that mining bitcoin through massive amounts of computer power is an energy-intensive enterprise. The result was a swift plunge Wednesday night in cryptocurrency prices that equalled hundreds of billions of dollars in losses for investors and other holders of digital currencies. He added that cryptocurrency is a "good idea on many levels" but its promise cannot come at a "great cost to the environment. Other digital currencies dropped as well.

Cryptocurrency, apparently. Tech magnate and Tesla CEO Elon Musk tweeted the latest in a long string of social media posts boosting the prospects of Dogecoin this week by saying he planned to keep it in the family.

Take a look at the beta version of dw. We're not done yet! Your opinion can help us make it better. We use cookies to improve our service for you. You can find more information in our data protection declaration. The Tesla boss has been a major force behind the cryptocurrency's meteoric rise. Musk's withdrawal on Bitcoin investors is proving to be a major nuisance as the coin strives to go mainstream, writes DW's Ashutosh Pandey.

Elon Musk calls AI the most dangerous warning for humanity. He says he is not against digital transformation but when it is about AI, he has a very different view. He also claimed to be careful about the advancement of AI.

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