🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Bitcoin Community and Adam Back Respond to Elon Musk's New Tweet

Published 2023-07-10, 09:10 a/m
© Reuters.  Bitcoin Community and Adam Back Respond to Elon Musk's New Tweet
USD/CAD
-
TSLA
-
BTC/USD
-
XRP/USD
-
DOGE/USD
-

U.Today - Famous British cryptographer and cypherpunk, early supporter and creator of Lightning Network Adam Back has responded to a recent tweet by , as have many other Bitcoiners. Aside from his other honorable titles, Back was just recently on the list of possible candidates to be the real Satoshi Nakamoto, the mysterious Bitcoin creator. However, he refuted rumors about being the Bitcoin creator.

They suggested a way to improve user data protection on the social media giant.

Bitcoin to help Twitter protect anonymous accounts

Twitter boss Elon Musk responded to a comment from a @SOClALRATE, who urged Twitter management to protect anonymous accounts; the text on the meme suggests that "anons" should be forced to put their real photos on their avatars so that their bosses can monitor what they say.

The tech billionaire, who spent $44 million buying Twitter last year, responded that Twitter "will protect anons for this reason particularly."

This was where Adam Back stepped in to suggest that Musk should implement Bitcoin payments for a gold verification tick via the Lightning Network.

Back stated that this would help users to "avoid payment doxxing." He "encouraged" Musk to implement BTC payments by saying "you know you want to. Just do it and stop messing around."

Many other Bitcoin users supported Back in their responses to Musk's tweet.

XRP user offers to buy Cybertruck

As covered by U.Today earlier, major XRP-themed account @XRPcryptowolf jokingly tweeted that he would buy Tesla (NASDAQ:TSLA)'s Cybertruck as soon as Tesla starts accepting XRP. This was a response to Musk's tweet, where the innovator wrote that he had gone for a drive in a Cybertruck around Austin, Texas.

So far, Tesla and SpaceX accept only Elon Musk's favorite Dogecoin — since the start of 2022. In early 2021, the e-car producer began to accept Bitcoin payments, but that did not last long.

Elon Musk reversed BTC payments for Tesla cars, as he was concerned with the heavy environmental impact of Bitcoin mining. He stated that the company would resume selling cars for BTC as soon as mining becomes at least 50% renewable.

Tesla also put over a billion USD worth of BTC on its balance sheet but then gradually sold it.

It is the crypto community's dream that Tesla begin accepting crypto, such as Bitcoin and DOGE (for cars, not only merchandise, as is the case now), as this would make a massive use case for crypto and give it a gargantuan adoption boost.

This article was originally published on U.Today

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.