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Anonymous Goes After Elon Musk, Blamed the Billionaire for Bitcoin Woes

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Elon Musk's SpaceX Raised $850 million at $74 billion valuation

Anonymous has published a message for Elon Musk in a video where they called the Tesla CEO “nothing more than another narcissistic rich dude who is desperate for attention.” They shed light on many things people may not know about Musk, including how he treats his employees, harms the environment, where his fortune came from, how Tesla actually makes money, and his attempt to centralize and control bitcoin mining.

Anonymous, a decentralized international activist and hacktivism movement, posted a video Friday directed at Tesla CEO Elon Musk. It is unknown if the people behind this video are the same Anonymous as the hacktivist group known for cyber attacks against several governments since 2003. The video begins with a message: “Greetings citizens of the world. This is a message from Anonymous for Elon musk.”

Elon Musk Is ‘Nothing More Than Another Narcissistic Rich Dude Desperate for Attention’

The video starts by explaining why Elon Musk became popular. “For the past several years you have enjoyed one of the most favorable reputations of anyone in the billionaire class because you have tapped into the desire that many of us have to live in a world with electric cars and space exploration,” the group described, adding:

But recently your carefully created public image is being exposed, and people are beginning to see you as nothing more than another narcissistic rich dude who is desperate for attention.

“It appears that your quest to save the world is more rooted in a superiority and savior complex than it is an actual concern for humanity,” they declared.

Employees, Young Children, Local Environment Suffer Under Elon Musk

Anonymous then emphasized that Elon Musk’s lack of concern for humanity “has been obvious to [his] employees for a long time who have faced intolerable conditions under [his] command for years.”

The group referenced an article in the Observer titled “Elon Musk, Tesla are pushing factory workers to the brink as profits soar.” The article explains that “Tesla workers and worker advocates say the company is risking the health and safety of its workers in relentless pursuit of these gaudy numbers.”

Anonymous Targets Elon Musk for Destroying Crypto Holders' Lives, Trying to Control Bitcoin

In addition, Anonymous referenced a different article on The Times titled “‘Blood batteries’ fuel the fortune of Elon Musk,” stating:

It is also obvious to the young children working in your overseas lithium mines, which are destroying the local environment as well.

“You have been open about your willingness to stage coups in order to install dictators in places where your toxic products are being mined,” the group also said.

“You have even prematurely crowned yourself ‘Emperor of Mars,’ a place where you will be sending people to die,” the group continued, pointing to an article titled “Elon Musk proclaims himself emperor of Mars.”

Anonymous Targets Elon Musk for Destroying Crypto Holders' Lives, Trying to Control Bitcoin

“Your fanboys overlook these issues because they are focused on the potential good that your projects can bring to the world,” Anonymous suggested.

However, the group added: “you are not the only show in town, and your competition is growing more intense with each passing day. There are plenty of other companies working on space exploration and electric vehicles. You are just the only CEO who has gained a cult following through shitposting and trolling the world on social media.”

Tesla’s Main Income Is From Government Subsidies, Not Cars

Anonymous then talked about how Tesla makes its money. “Many people are now learning that the vast majority of Tesla‘s income doesn’t actually come from selling cars. It comes from government subsidies, selling carbon tax credit for your innovation with clean energy,” the group detailed. However, they pointed out:

This technically isn’t your innovation though because you aren’t actually the founder of Tesla. You simply purchased the company from two people much more intelligent than you are.

The two people Anonymous referred to were Martin Eberhard and Marc Tarpenning. In an interview with CNBC, Tarpenning said Musk was an investor of the company. “He was always supportive from the beginning but he wasn’t the founder. We started it,” he confirmed. Eberhard added: “He actually accomplished some amazing things … I’m not sure why he has to also said that he was the founder when he wasn’t. I don’t understand that.”

Anonymous Targets Elon Musk for Destroying Crypto Holders' Lives, Trying to Control Bitcoin
Tesla’s founders Martin Eberhard and Marc Tarpenning. Source: CNBC

Referencing an article titled “Tesla: Bitcoin sales and environmental credits boost profits,” Anonymous suspected:

Tesla has also made more money holding bitcoin for two months than they did in years of selling cars. It is also more than likely that this bitcoin was purchased with money from these government subsidies.

Elon Pretends to Be Clueless About Energy Use When Tesla’s Main Income (Government Money) Is at Stake

On the subject of bitcoin and Tesla’s income from the government, Anonymous said: “It is now widely believed that you have been forced to renounce your company’s involvement with bitcoin in order to keep that green government money flowing into Tesla’s coffers.”

The group noted that “The energy use argument about proof-of-work mining is a very nuanced conversation that requires a fairly complex understanding of how power grids work and how excess energy is wasted by power companies and sought out by crypto miners,” emphasizing:

This is a conversation that you have been having for over a year and were intimately aware of. But as soon as your main source of income was threatened, you pretended to be clueless in an attempt to play both sides of the fence.

Elon’s Attempt to Centralize and Control Bitcoin Mining

The video then talked about Elon Musk’s attempt to centralize and control bitcoin mining. On May 24, the Tesla CEO announced on Twitter that he had met with leading North American bitcoin miners. During the closed-door meeting hosted by Microstrategy CEO Michael Saylor, he said the miners have agreed to form a Bitcoin Mining Council.

However, Anonymous said:

[Elon’s] move to create a Bitcoin Mining Council was rightly seen as an attempt to centralize the industry and take it under your control.

The group then referenced an article on Bitcoin News titled “Crypto proponents become skeptical of closed-door meeting between billionaires and bitcoin miners.”

Anonymous Targets Elon Musk for Destroying Crypto Holders' Lives, Trying to Control Bitcoin

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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eNaira

eNaira: Buhari, Emefiele Launch eNaira at State House Abuja

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Enaira launching in Abuja - Investors King

President Muhammadu Buhari and the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele on Monday, October 25, 2021 officially launched eNaira, Nigeria’s Central Bank Digital Currency (CBDC) in state house Abuja.

Nigeria is now one of the few countries to have launched digital currency ahead of nations like the United States, United Kingdom, etc.

The CBN believed eNaira will help plug loopholes in the financial system, curb illicit financial flows, strengthen security, improve data collection and monitoring.

Enaira launching in Abuja - Investors King

Speaking on why he approved CBN’s decision to launch a digital currency, the president explained that his approval was “underpinned by the fact that the CBN has been a leading innovator in the form of money they produce, and in the payment services they deploy for efficient transactions.”

“They have invested heavily in creating a Payment System that is ranked in the top ten in the world and certainly the best in Africa,” the president said at the event in Abuja.

“This payment system now provides high‐value and time‐critical payment services to financial institutions, and ultimately serves as the backbone for every electronic payment in Nigeria.”

President Buhari further said, “estimate suggests the adoption of new CBN digital currency is estimated to increase Nigeria’s GDP by $29 billion over the next 10 years.

“We have become the first country in Africa and one of the first in the world to introduce a digital currency to our citizens.”

Africa’s largest economy has now launched two mobile applications for eNaira – eNaira speed wallet and eNaira merchant wallet – on Google playstore and Apple store to facilitate adoption and usage.

These applications tell eNaira potential users to“Get Ready With Your Accurate BVN Data For Your Hitch-Free Enrolment.

To sign-up on the eNaira speed wallet, you would be required to input the following details exactly as captured during your BVN enrollment.

First Name, Last Name, Date of Birth, State of Origin, and Email.

Your Banks are waiting to assist you in validating and updating your BVN details to ensure seamless enrolment to the eNaira Platform.

Enaira launching in Abuja - Investors King

During the launching in Abuja on Monday, Emefiele announced that N500 million worth of eNaira or $1.21 million has already been minted.

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Cryptocurrency

World’s Leading Cryptos Close to Reaching New Record Valuations, Dogecoin Still 65% Below All-Time High in May

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Dollar Cryptocurrency - Investors King

The last few weeks have seen impressive growth in the global crypto market after a rocky September and another crypto price drop, following a ban on cryptocurrency transactions and mining from China’s central bank, which declared all digital coins illegal in the country.

Since the beginning of October, some of the world’s leading digital coins not only bounced back but jumped close to reaching new record valuations. However, that’s not the case with Dogecoin, which still lags in price and market cap growth.

According to data presented by BlockArabia, the market cap of the meme-inspired digital coin hit $32.3bn last week, or 65% below its all-time high in May.

Far Below Record Valuation Despite Impressive YTD Growth

The original meme coin came a long way since its beginnings in 2013 and climbed high on the list of the most popular crypto investments in 2021. What started as a joke between the two IBM engineers became the world’s tenth-largest cryptocurrency, drawing a lot of intention in the crypto space, especially in the first half of the year.

In the five months of 2021, Dogecoin’s price soared by over 14,200% to $0.73, driving its market cap to an all-time high of $93.5bn in May. However, after the crypto price crash, this figure stumbled to $35.7bn in just three weeks.

In the first days of June, the combined value of all DOGE coins jumped to around $54bn and then plunged to $22.5 by the third week of July. After dynamic August and September, the market cap of the meme-inspired crypto rose to $32.3bn last week, a staggering 5,200% YTD increase, still $61bn less than its all-time high from May.

In comparison, Bitcoin’s market cap hit $1.18 last week, only 1.6% below its all-time high the same month. Ethereum and Cardano witnessed similar growth in this period, with their market caps only 2% and 3.7% below record valuations.

Monthly Trading Volume Almost Halved to $65.6B

Besides becoming one of the most popular cryptos to own in 2021, Dogecoin was also the second fastest-growing digital coin in the crypto space this year, behind Solana. However, its trading activity dropped significantly in the second half of the year.

According to CoinMarketCap data, Dogecoin’s monthly trading volume amounted to around $260bn in June. Although this figure dropped by 25% to $194.4bn in July, the meme-inspired digital coin was still the fourth most-traded crypto that month.

In August, Dogecoin dropped to the nineteenth place of the most-traded cryptos, with a monthly trading volume of $43bn or 4.5 times less than a month before.

Statistics show that on October 22, its 30-day trading volume stood at around $65bn, almost half the value from July.

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eNaira

Central Bank of Nigeria Says eNaira is Finally Ready for Launch

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eNaira - Investors King

The Central Bank of Nigeria (CBN) has said the Central Bank Digital Currency (CBDC), eNaira, was finally ready for launch on Monday, October 25, 2021, by Nigerian President Muhammadu Buhari.

The launching was initially slated for October 1, Nigeria’s 61st independence anniversary. However, the launching was postponed to address some hiccups, including a lawsuit filed against the central bank by a private firm that first registered the name eNaira with the Corporate Affair Commission (CAC).

The CBN had claimed that instead of putting its entire focus on launching the eNaira on  October 1, 2021, it commenced work on the design and architecture of the digital currency to mitigate risks perceived during its initial launching.

According to the apex bank, when the E-Naira is finally launched today, Nigeria would be one of the first countries to have a CBDC. While the CBDC is not meant to replace cash but to co-exist with it. The launching would make Nigeria the fifth country to launch a centralized national electronic currency, joining the likes of Cambodia, Sweden, South Korea and the Bahamas. Ahead of the United States, China, the United Kingdom, and others considering launching their own digital currency.

Bitt Inc., a Barbados-based financial technology business that uses blockchain and distributed ledger technology to enable safe peer-to-peer transactions, was selected as the technical partner for the eNaira project.

The CBN announced plans to launch the E-Naira four months after banning cryptocurrency transactions in the country after claiming the unregulated cryptocurrency space is aiding fraud and unregulated capital outflows that exposed the Nigerian public to enormous damages and risks.

The central bank, however, believed that the eNaira launching would help deepen financial inclusion in Nigeria, as it is targeted towards both the banked and unbanked segments of the population. Data from the Enhancing Financial Inclusion and Access (EFInA) shows that only 64 percent of Nigerian adults were in the financial system in 2020, way below the 80 percent target of the CBN.

While experts have noted the potential benefits of the E-Naira, they also urged the CBN to carry out more sensitization as the digital currency could be easily accessed by hackers to defraud innocent people if a strong security framework is not put in place.

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