- A Monero proposal has raised $150,000 to convince Elon Musk to accept XLM as payment for Tesla vehicles.
- Non-profit organizations can participate by tweeting about the initiative in an effort to win a free Tesla.
- The wider Monero community is unhappy with the campaign and lack of transparency surrounding the PR move.
Share this article
A new Monero proposal has raised $150,000 in hopes of encouraging non-profit groups to tweet their support for Tesla. However, the publicity stunt has created a rift in the community.
$150,000 Raised for Free Teslas
The Monero community raised 890 XMR, worth approximately $150,000, as part of an initiative that will ask Tesla Inc. to accept the cryptocurrency as a method of payment on its website.
The campaign also asked non-profit organizations to make a case on Twitter explaining why they need a Tesla Model 3. The organizers intend to use the funds raised by the Monero community to buy Model 3 Teslas for three of the most deserving applicants.
The offer depends on Elon Musk or Tesla Inc. agreeing to accept Monero as a form of payment. If Musk or Tesla do not agree, the contributors will get a refund on their donation.
PR Stunt Raises Controversy
The proposal has upset many in the Monero community.
One post on Reddit’s /r/Monero subreddit argues that the proposal does not represent the community. The original poster described the proposal as a “cheap and dirty PR stunt,” adding that it paints Monero in a bad light. Those sentiments have received widespread support.
Elsewhere, Monero contributor dEBRUYNE stated that he appreciates the effort to raise awareness for Monero, but noted that the campaign was rushed. He also noted that it is misleading to suggest that the campaign was organized by the Monero community, as it was organized by just 11 people and pre-funded.
One of the campaign’s organizers posted a response to the backlash. He justified the group’s actions by stating that funding was already in place, and added that the campaign was carried out quickly due to the risk of being “frontrun by a centralized coin with a warchest.”
Musk Generates Hype for Crypto
However, while Tesla’s $1.5 billion Bitcoin investment likely indicates true support for the project, the cavalier nature of Musk’s Dogecoin tweets has led many to question Musk’s intentions.
As such, Monero may want to distance itself from the hype that has been generated by Musk over the past several days.
Disclosure: The author held Bitcoin at the time of writing
Elon Musk Can’t Stop Pumping Dogecoin on Twitter
Tesla and SpaceX CEO, Elon Musk, has tweeted again about Dogecoin, causing a rapid increase in the price of the project’s native currency, DOGE. Elon Musk Tweet Moons DOGE Earlier…
Bitcoin on Track for $50,000 as Tesla Buys Into Crypto Craze
Bitcoin made a new record high of $44,900 after Tesla disclosed a massive investment in this cryptocurrency. Though BTC has stabilized after a significant move, it entered a no-trade zone…
What is Dogecoin?
So what is the story behind DOGE? How did it become the asset of choice for a group of anti-establishment retail traders in January 2021, and what are the chances…