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Elon Musk Responds To Billy Markus’ Crypto Scams Comments 

Tesla CEO and billionaire, Elon Musk, has re-emphasized the rise in the number of crypto-related scams. Musk tweeted at Billy Markus (one of Dogecoin’s co-founders) and joked with him about receiving 1 DOGE despite sending him 2 DOGE.

Bemused by the question, Markus used it as an opportunity to reiterate his explanations that there are no guarantees in crypto trading except those given by scammers. Markus further explained that traders who lose money pay the risk taken by someone else, while others also pay the risk for those who make money. 

Musk’s Previous Remarks About This Issue

This past week, Musk tweeted that he is frustrated by several Twitter accounts related to crypto, which are fake and fraudulent.

You’d recall that the most significant breach in twitter’s history occurred last year when the centi-billionaire’s Twitter account was temporarily hacked and used to promote a bitcoin giveaway to scam lots of people.

Tesla Resuming BTC Payments?

Tesla’s latest us sec filing indicates that the electric car giants might soon resume the BTC payment option for their cars. Part of its filing lends credence to a belief that the company fully supports the digital asset industry.

Shortly after investing $1.5m to hold the leading digital asset in this first quarter of this year, Tesla announced that anyone could pay for its tesla vehicles using bitcoin. However, when there was a public outcry that the technology used for mining BTC was hurting the environment, the company announced a suspension of its BTC payment option.

Part of the announcement of the suspension by the company’s CEO states that Tesla might resume that option once it can ascertain that at least 50% of the energy used for mining the digital asset is clean and renewable.

The company has announced a possible resumption of the BTC payment option and even support for other crypto payment options, especially Dogecoin. Since Musk claims to hold BTC, ETH, and DOGE coins only, then tesla crypto payment support might include Ethereum in addition to the BTC and DOGE.

However, Musk might influence a delay in Tesla supporting doge payment options. He has always reiterated that Dogecoin still requires some improvements, particularly decreased fees and block time but increased block size.

He even suggested a solution for Dogecoin developers in a tweet released a few days ago, saying, “a de facto layer 2 in a single-layer network might be the simplest solution.” Dogecoin might still switch to a proof-of-stake network because a vast amount of renewable energy is still involved in mining it, even though it utilizes a proof-of-work variant.

Tesla’s share price might be set for another upward movement. Tesla’s share price surged a few days ago after hertz rental car company struck an agreement with Tesla to purchase 10,000 EVs from them. This news caused a spike in Tesla’s share price and now trades within the $1,000 range for the first time and might remain that way for some time.

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