Shortly after Elon Musk’s Tesla Motors hinted that it might accept bitcoin (BTC) payments for electric cars, the Monero community suggested that XMR might also be a good payment option.
After the CCS offering on the 9th. In February, the Monero community raised 890 XMR ($155,000) to add Monero as a payment option for the new Tesla alongside Bitcoin.
According to the proposal, the community can get a new permit from the 9. The 21 days of February are trying to get Musk’s attention. If Tesla accepts the initiative, the Monero community will select three charities to receive the new Tesla. The city has agreed to refund the contributions if Musk does not respond or does not participate within twenty-one days of the application being fully funded.
According to Monero’s website, a total of 11 participants have supported the campaign.
According to the proposal, Tesla fans could benefit from the XMR payment option because it has unique privacy features compared to publicly available and traceable blockchains like Bitcoin (BTC) or Ether (ETH). The community has suggested that some Tesla owners want to make their expensive cars a little more private.
You don’t want the waiter at your restaurant to know the total balance in your wallet when you pay, do you? Why, when buying a car, all the information released in a bitcoin transaction should be released to the world, the proposal says. Similarly, the effect of showing up at a party with a brand new Tesla is somewhat mitigated if all your friends already know when you bought it because they were able to see the bitcoin blockchain transaction, the proposal suggests.
The offer comes amid an existing controversy over Monero’s privacy features and its ability to track XMR transactions. In November 2020, CipherTrace filed two patents for the technology to become a conduit for Monero transactions. The Monero community has previously criticized and questioned CipherTrace’s ability to track XMR.
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