"Wait for us": Anonymous threatens Elon Musk for criticizing Bitcoin

by Patricia Lin
"Wait for us": Anonymous threatens Elon Musk for criticizing Bitcoin

Anonymous is focusing on Elon Musk. For the primary time in six months, the collective is posting a video on YouTube – and focusing on the richest man on the planet.

Elon Musk, a hypocrite? At least that is the accusation made by the hacker collective Anonymous in a viral YouTube video directed towards the Tesla CEO. The video, which was clicked virtually two million instances on the time of writing, accuses the billionaire of supposed hypocrisy relating to his Bitcoin criticism. The protagonist of the roughly 4-minute video says within the standard Anonymous method:

Over the previous few years you might have loved what’s arguably essentially the most benevolent repute within the billionaire class. But your picture has modified. People are beginning to see that you simply, too, are one other narcissistic wealthy dude with a necessity for consideration.


The collective's drastic selection of phrases apparently stems from frustration with Musk's habits with regard to Bitcoin. The “Anon”, whose voice is distorted, accuses Musk of being one-sided along with his criticism of Bitcoin's power consumption.

The power use argument in proof-of-work mining is a really nuanced dialogue that requires a reasonably advanced understanding of how energy grids work.


Bitcoin-Stop provides Anonymous a foul feeling

Tesla suspended accepting BTC on May 13 of this 12 months. As we’ve got already reported at this level, Musk justified the step with the supposed environmental injury from proof-of-work mining. From the viewpoint of many critics, together with Anonymous, that is an unbelievable pretext. After all, the precise CO2-Bitcoin's stability sheet, firstly, unclear, and secondly, discussions have to be embedded in a nuanced community of balanced arguments in regards to the usefulness of cryptocurrency. Such a balancing act by no means came about with the richest man on the planet.

Rather, within the newest video, the hacker collective reproduces a principle that has been making the rounds in Bitcoin Space for a while. Musk railed towards BTC primarily as a result of nearly all of Tesla's revenue comes from the sale of CO2-Certificates in addition to so-called "Government Subsidies", so authorities cash originates. These have been paid out specifically as a result of Tesla, as a producer of electrical automobiles, is counteracting local weather change.

Tesla: Most of the gross sales come from certificates buying and selling

From Tesla's viewpoint, assist for proof-of-work cryptocurrencies is a contradiction in phrases. In reality, a big a part of Tesla's revenue comes not from the sale of electrical automobiles, however from buying and selling in CO2-Certificates. In the primary quarter of 2021, the California automaker took $ 518 million from CO gross sales2-Certificates. In addition, $ 100 million got here from buying and selling Bitcoin, in keeping with the annual report for Q1 2021. Meanwhile, the sale of automobiles remains to be a loss for Tesla.


In reality, individuals now perceive that Tesla's revenue comes not from automotive gross sales, however from authorities funds.


The cash raised from this may be used to fund the billions in BTC purchases. A transfer that Musk now appears to be falling on his ft. But as an alternative of explaining his resolution, the Tesla CEO has been firing towards Bitcoin's proof-of-work algorithm for a while. Much to the displeasure of the crypto neighborhood and lately additionally Anonymous.

Millions of retail traders counted on their crypto earnings to make their lives higher. With your tantrums, you stole goals from hard-working individuals. Still you retain posting memes out of your million mansions


says the Anon within the video.

Measures unclear

However, it’s unclear whether or not Anonymous can do something towards Musk. After all, the collective had already reached its zenith in 2008, when it was capable of paralyze Scientology web sites utilizing DDoS assaults. The enterprise often called Project Chanology had the acknowledged purpose of "banning Scientology from the Internet." That didn't work, however since then the hacktivists with the plastic masks have been on everybody's lips.

Past tasks comparable to assaults on the cyber infrastructure of Nigeria or the Minneapolis Police Department remained largely with out penalties.

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