Bitcoin jumps after Musk says Tesla could use it again


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Bitcoin rallied more than 9% after that message, breaking above its 20-day moving average, and it climbed a tiny bit further in Asia to hit $39,838.92.

Pretty impressive on a one day chart, but not so interesting on a one month or one year chart.

0 ( +3 / -3 )

If (~50%) of miners join his "Council", Musk will have effective control of the network and will be able to block and manipulate transactions at will.

Completely and utterly false.

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if a single entity has control over 51% of the hash rate, they can effectively create consensus by themselves.

If this ever happened Bitcoin would immediately be rendered worthless. There is no economic incentive to do so. In theory a malicious state actor wanting to take down bitcoin and not caring about the financial cost to do so could try. But why would this council, or Musk, or anyone else with a vested interest willingly destroy it? They wouldn't.

-3 ( +0 / -3 )

How the US financial regulators aren’t all,over this is a mystery.

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Why didn’t I buy it on my friends advice at $200?

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Like the penny stock scam of pump and dump.

1 ( +4 / -3 )

I'm surprised that in Japan there was no news of El Salvador granting "legal tender" status to Bitcoin whereas a tweet from Elon Musk is given so much importance. Seems like the news media want to keep people ignorant about bitcoin.

-3 ( +0 / -3 )

Because El Salvador is about as important worldwide as my delicious Bramley apple pies.

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So Musk flaps his gums, and bit coin either goes up or down. Rather not care for an "asset" that reacts so simple that way.

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So Musk can engineer a 9% profit, on the spot, with a tweet.

That's quicker and easier than printing his own banknotes in his basement.

Clean energy to mint crypto? His next two purchases may be several/all Chinese solar panel firms and a chunk of the Sahara Desert.

-1 ( +0 / -1 )

Game of Elon says continues

-1 ( +0 / -1 )

Why didn’t I buy it on my friends advice at $200?

How much did your friends make?

1 ( +1 / -0 )

This guy ... Sell your BTC and leave us alone instead of pump and dumping every week !

1 ( +1 / -0 )

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