Thread by @CroissantEth

@elonmusk has had a big impact on crypto recently, & because some of his actions have been a bit unconventional, I was inspired to dig in a little deeper to find out what exactly his “end game” is

& what I’ve found does not disappoint.

I’ll compile all of the info below 👇🏻🥐

This story begins a short time ago after Elon made the now-infamous tweet that Tesla will accept $BTC

$BTC rallied from this news, only for the hype to be cut short by complete reversal in policy from Tesla

Tesla will NOT accept $BTC for payments, citing environmental concerns

This action led many to wonder why, just a mere few weeks after his company invested over $1B into $BTC, would he blatantly speak negatively about it?

Surely he has a reason to do so, right?

Well after taking a look at some hints left in his tweets, that appears to be the case

Let’s refer to a tweet made by @elonmusk, where he admits to Tesla owning and operating their own Bitcoin nodes

You’ll note how this is directly contradictory to their claims of environmental concern from mining $BTC

That is, unless @Tesla were running nodes with solar energy👀

But this is where things get even more interesting

Allow me to introduce you to the next character in this story, named Ark Invest

Ark Invest is a top shareholder of Tesla, & their recent work gives us some good insight on what may come next, which I will discuss in this thread

Most importantly, Ark published an article demonstrating research on Solar Battery $BTC mining

The research seems to hint at a $BTC use case for Tesla regarding energy provision & efficiency, one that Tesla’s team mentions later in this thread

& the results are very promising

Ark argues that $BTC mining can increase the overall share of a grid, & generate more electricity from renewable carbon-free resources

“world with $BTC is a world that, at equilibrium, generates more electricity from renewable carbon-free sources”
wintonark.medium.com/bitcoin-mining…

So, where does Tesla play into this at all?

Many are unaware of this fact, but over 13 states in the US require auto manufacturers to sell a minimum amount of zero emission vehicles to be allowed to sell any vehicles in their state

Companies who do sell zero emission vehicles..

(Like Tesla) get “environmental credits” which can then be sold to other car manufacturers who don’t yet have zero emission vehicles for sale

In fact, Chrysler agreed to buying billions of dollars worth of these credits, & it made up 7% of Tesla’s total revenue ($428M) last year

While this is great in practice, the profitability is expected to decline in the future due to companies creating their own carbon-free alternatives to bypass this.

This is additionally confirmed by Tesla CFO Zach Kirkhorn in talks about Tesla’s earnings
cnbc.com/2020/07/23/tes…

Considering the fact this significant portion of revenue will be taken away, do you think it is possible Tesla may seek $BTC as a solution to promote renewable energy and monetize it?

It’s very important to remember that Tesla is more than just an electric car company...

Tesla’s main business is in producing solar panels, solar roofs, and batteries.

Often times Tesla powerwalls run into excess energy, which could hypothetically be re-routed to $BTC mining with a GPU

This way, Tesla could turn excess power into a digital asset instantly bankable

And there is in fact more to confirm this possibility

From an interview with core Tesla team members, they discuss their Virtual Power Plant model, and it becomes quite clear what is going on at Tesla with their auto bidder platform...
infoq.com/presentations/…

Sounds quite a bit like blockchain technology, doesn’t it?

To me, it looks very possible Tesla may soon announce a renewable way of mining $BTC by using excess energy generated by powerwalls, one which can be used by anyone with Tesla roofs, panels, cars, & more!

https://twitter.com/elonmusk/status/1385108424761872387

To fully understand what I’m about to reveal I want to give a brief bit of background information on Elon Musk & what he’s building as an ecosystem first

Elon Musk is light years ahead in terms of innovation. His mission for SpaceX is to create a self-sustainable society on Mars

Becoming multi-planetary is vital to our future, and Elon knows this very well

Since the Mars colony will be self-sustained, we have good reason to believe that their currency will be $BTC

Is it a coincidence solar energy is the best source on Mars? 🤔
universetoday.com/21293/despite-…

Still not convinced?

Just listen to this podcast with the very own Ark Invest and Elon Musk, where he discusses the prevalent issues with using USD compared to crypto

But this doesn’t even begin to cover the lesser-known astounding projects that Elon is building, which may in fact tie together into some sort of master plan

Since I’m running out of room for info, I’ll summarize these and my main points as best as possible in the next tweets👇🏻

1. Starlink

Starlink is a massive project backed by Elon Musk and his company, SpaceX. By launching a staggering 47,000 satellites into space, starlink will offer internet access worldwide, where many aren’t already capable of today

With it, the internet will be changed forever

Here’s the kicker:

Remember when I discussed the possibility of Tesla Powerwalls mining cryptocurrency with excess energy?

You’d need a way to ensure nodes don’t have downtime, and what’s a better way to do so than having universal satellite internet access for powerwalls? 🤔

The last thing I wanted to go over are the distinct investments made by Ark Invest, which seem largely motivated by Elon...

(Keeping in mind they bought $20M worth of $BTC)

Space = SpaceX?
Internet = Starlink?
Robotics = The Boring Company?
Fintech = ?

https://twitter.com/elonmusk/status/1370449101402353669?s=21

RECAP:

-Tesla invests $1.5B into $BTC
-Elon says $TESLA will accept $BTC
-Elon admits $TESLA runs their own $BTC nodes
-Tesla stops accepting $BTC citing environmental concerns from mining
-Ark Invest, a fund holding massive amounts of $TESLA releases Solar $BTC mining paper

-Included in the research, are specific use cases for Tesla
-Ark Invest buys $20M worth of $BTC
-Tesla profits from renewable energy credits will dry out soon, forcing them to look for other ways to monetize excess power
-Tesla Powerwalls regularly run into excess energy

-With a simple GPU mining $BTC, powerwalls could monetize energy & settle txs a lot faster than traditionally possible
-Elon’s goal is to create self sustaining life on Mars
-Starlink could enable any Tesla consumer to begin running their own $BTC node, free of internet downtime

We might see a huge narrative change

This will actually attract people to use renewable energy for $BTC, and potentially bring in hundreds of millions of users

I don’t believe Elon would fud $BTC after investing without a plan...

If you made it this far, I hope you enjoyed! 🥐