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Monero Asks Elon Musk to Add XMR as Tesla Payment Option

| Updated
by Kofi Ansah · 3 min read
Monero Asks Elon Musk to Add XMR as Tesla Payment Option
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The proposal from the Monero community stated that the XMR payment option would be appealing to Tesla fans and investors as they would benefit from the coin’s unique privacy features

The Monero community has announced that they want Tesla Inc (NASDAQ: TSLA) to add XMR as a payment option for its cars. The community posted the proposal on the Tesla website and wants Elon Musk, the CEO of the automobile company to make that feat possible.

The Monero community posted the CCS proposal on February 9 and has since raised $155,000 (890 XMR) in a bid to persuade Tesla to add XMR as a payment option alongside Bitcoin. 

Tesla, owned by Elon Musk, recently purchased $1.5 billion BTC and announced that the company plans to accept payment for its electric cars in Bitcoin. Shortly after the announcement, the Monero community suggested that XMR could also be a good payment option for Tesla. 

The community has now set a 21-day period starting on February 9 in which they’ll strive to get the attention of Billionaire and CEO of Tesla. The Monero community has also vowed to select three charity organizations to receive brand-new Tesla’s should Tesla and Musk accept their proposal.

The proposal from the Monero community stated that the XMR payment option would be appealing to Tesla fans and investors as they would benefit from the coin’s unique privacy features compared to public and traceable blockchains like Bitcoin (BTC) or Ether (ETH). The proposal also suggested that owners of Tesla would be interested in making their expensive vehicle holdings more private.

“You wouldn’t want your server at a restaurant to know the entire balance in your wallet when you pay would you? Why should your purchase of a car broadcast to the world all of the information that is leaked in a Bitcoin transaction,” the proposal reads. “Plus, the effect of showing up to a party in a brand new Tesla is diminished somewhat if all your friends already knew the moment you bought it because they were able to see the transaction on the Bitcoin blockchain,” the proposal stated.

The Monero community has also promised to refund the contributors in a scenario where they do not get a response from Tesla or an engagement from Musk within 21 days of a fully funded proposal. The community’s effort was supported by a total of just 11 contributors, according to the Monero website.

Whilst Musk hasn’t responded to the Monero community’s proposal, he has responded to a self-promotional message from Freewallet, criticizing them for their services. The crypto wallet provider known for offering standalone storage services for cryptocurrencies saw its marketing attempt clowned on by Musk.

The billionaire and business tycoon, responding to Freewallet’s self-promotional message, tweeted “your app sucks.” In a subsequent tweet, Musk stated that “any crypto wallet that won’t give you your private keys should be avoided at all costs.” 

So, let’s wait and see what will happen next in this story.

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Kofi Ansah
Author Kofi Ansah

Crypto fanatic, writer and researcher. Thinks that Blockchain is second to a digital camera on the list of greatest inventions.

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