lol wow still took me a minute to get that. Clearly went over my head and I'm carried away in speculation. I still think Elon is very aware in his mockery of cryptos
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14/ With all that said, this could just be foolish speculation and Tesla did indeed buy BTC. ¯_(ツ)_/¯
12/ On the other hand w/low transaction fees & unbounded scaling capability the opportunity in utilizing a bitcoin that enables micropayments & immutable private data storage on a public blockchain is incredible!
Read this as satire https://bit.ly/3brl5Q1
11/ When Elon mocks the technology he specifically calls out BTC. Again in mocking fashion he has raised awareness to a crypto coin pegged to the dollar (known for shadiness & pumping the price of BTC)
1)https://twitter.com/elonmusk/status/1363230177002622976?s=20
11.5/ If Elon is knowledgeable of bitcoin forks, aware of shady activity of Tether/Bitfinex etc. & aware of University of Texas research suggesting Tether inflates BTC prices, why would he have TSLA buy BTC? https://bit.ly/3kXtjlR
13/ Just throwing this one out there as strange
10/ In summary, Elon has signaled awareness of bitcoin forks. He uses the ambiguous term bitcoin when he says he thinks “bitcoin is a good thing, and I am a supporter of bitcoin.” – Elon Musk on ClubHouse 2021-01-31 https://youtu.be/K8qP_8nXpuo?t=2461
9/ The earliest report that Coinbase helped Tesla execute the purchase of bitcoin appear to be from The Block https://bit.ly/3rqtyYZ
Neither Tesla or Coinbase confirmed this story.
The story is otherwise based on an anonymous source.
#RedFlag #FakeNews
7/ Circling back to the initial reporting that Tesla bought bitcoin Feb 8, 2021, it’s clearly an assumption that Tesla bought BTC.
Outlets such as CNBC/NBC, WSJ, & AP cite the SEC filing and again the 10-K form does not specify which bitcoin.
6/ I’m not the only one wondering is Elon signaling some in-depth knowledge of #bitcoinforks and the murky relationship between #BTC #BCH and #BSV?
h/t @BernhardCenti
https://twitter.com/BernhardCenti/status/1363277009049296896
8/ It’s easy to see why it's assumed the bitcoin purchased was BTC, but it is an assumption.
This is also why the use of the name bitcoin is a contentious topic in the community.
In fact, there are pending lawsuits concerning this https://bit.ly/3caqav5
5/ It’s very easy to get carried away in speculation w/these cryptic messages. Based on these articles & Elon’s recent Twitter bio changes, I think it’s fair to say it’s about bitcoin
https://medium.com/@octskyward/on-consensus-and-forks-c6a050c792e7
About to drop my own thread inspired by this /pay @37361 $1.00
3/ For those who don't know, there are 3 competing versions of bitcoin sharing the same chain up to block 478557 (pre-fork) that tie back to the genesis block.
2/ $TSLA SEC filing mentions "bitcoin" 9 times in 4 paragraphs but never specifies which bitcoin.
https://www.sec.gov/Archives/edgar/data/1318605/000156459021004599/tsla-10k_20201231.htm
2/ $TSLA SEC filing mentions "bitcoin" 9 times in 4 paragraphs but never specifies which bitcoin.
https://www.sec.gov/Archives/edgar/data/1318605/000156459021004599/tsla-10k_20201231.htm
1/ Which bitcoin did Tesla buy?
Telsa's 10-K SEC filing uses the word bitcoin (ambiguous).
It does not specify Bitcoin Core (#BTC), Bitcoin Cash (#BCH), or Bitcoin SV (#BSV).
4/ These competing versions of bitcoin are called #forks.
Coincidentally, Elon Musk updated his Twitter profile to read “metaphork” and changed his profile photo to a fork in the road.
A very specific photo used in articles regarding the bitcoin fork.
Thank you, cheers!
Spot on! Why not delist like the majority of exchanges unless it serves a purpose...
7/ Large corporate & institutional investment going long BTC acknowledges it's extremely volatile & a high risk investment. To go another step further in terms of risk to short BSV so much starts to look rather suspicious of who is doing this.
I'm with you on utility & assume you would agree down the road that utility drives the value up. This topic has been mentioned on a couple streams & I wanted to explore it. Considering theres short squeeze potential when price takes off, could be parabolic
3/ BSVUSD price (yellow) overlaid on the BSV Shorts chart exposes a peculiar pattern of shorts chasing price spikes. In March of 2020, heavy BSV short interest took off and has persisted while BSVUSD price has remained relatively flat.
6/ If it's sophisticated investors who due extensive due diligence, it's rather surprising there's this much short interest (nearly 50x more BSV shorting than BTC) considering BSV's successful scaling capabilities, low fees, and mining profitability.
4/ With rising price and increased media attention one would think BTC Longs would be increasing relative to BSV Longs but, the opposite is happening...
5/ Shorting is generally a sophisticated investor strategy.
To assume it's a bunch retail haters shorting BSV seems unlikely considering the potential risk of unlimited losses.
The big risks of short sales: https://tinyurl.com/5xapjm9f
1/ Is there evidence that short interests are suppressing #BSV price?
I explored this question and would conclude there is at the very least good evidence for suspicion. @292
BSV Shorts - orange
BTC Longs - blue
BSV Longs - aqua
BTC Shorts - yellow
2/ Since March '19 the diverging trend of BSV Shorts on a percentage basis shows that BSV has undergone massive short interest over the last year. While BTC Longs, BTC Shorts, and BSV Longs have declined, BSV Shorts are 282% above the starting level.
Long $TAALF
#bitcoin #economics