The Monero community has posted a proposal to add XMR as a payment method on Tesla’s website.
Right after Tesla Motors Elon Musk hinted that it might start accepting Bitcoin (BTC) payments for its electric vehicles, the Monero community suggested that XMR might also be a good payment option.
Following the release of the CCS proposal on February 9, the Monero community raised $ 890 million ($ 155,000) to add Monero as Tesla’s new payment option alongside Bitcoin.
As part of the proposal, the community will strive to grab Musk’s attention for a 21-day period starting February 9th. And if Tesla takes the initiative, the Monero community will select three charities to receive the new Tesla. The community has pledged to return contributors in the absence of a response or commitment from Musk within 21 days of receiving a fully funded offer.
According to the Monero website, the effort was supported by just 11 contributors.
According to the proposal, Tesla fans can take advantage of the XMR payment option due to its unique privacy features compared to public and traceable blocks like Bitcoin (BTC) or Ether (ETH). The community suggested that some Tesla owners would be comfortable making their expensive car collections special.
“You don’t want the waiter to know the entire balance in your wallet when you pay, do you? Why should your car purchase broadcast all the information that was leaked in the bitcoin transaction, ”the proposal says. “In addition, the impact of attending a party on a new Tesla is somewhat reduced if all your friends already knew the moment of purchase, because they could see the transaction on the Bitcoin blockchain,” the proposal says.
The proposal comes amid ongoing controversy over Monero’s privacy features and the ability to track XMR transactions. In November 2020, CipherTrace filed two patents for a technology that was to become a cable for tracking Monero transactions. The Monero community has previously criticized CipherTrace’s ability to track XMR.