The Monero community has posted a proposal to add XMR as a payment option on the Tesla website.
Soon after Elon Musk’s Tesla Motors hinted that it might start accepting Bitcoin (BTC) payments for its electric cars, the Monero community suggested that XMR could also be a good payment option.
After the CCS proposal was published on February 9, the Monero community raised 890 XMR ($ 155,000 USD) in a move to add Monero as a new Tesla payment option alongside Bitcoin.
As part of the proposal, the community will strive to capture Musk’s attention during a 21-day period starting February 9th. And if Tesla accepts the initiative, the Monero community will choose three charities to receive the brand new Teslas. The community promised to return contributors in the absence of Musk’s response or engagement within twenty-one days of a fully funded offer.
The effort was supported by a total of only 11 contributors, according to the Monero website.
According to the suggestion, Tesla fans could take advantage of the XMR payment option due to its unique privacy features compared to public and traceable blockchains such as Bitcoin (BTC) or Ether (ETH). The community suggested that some Tesla owners would be comfortable making their expensive car collections more special.
“You don’t want your restaurant server to know what the full balance in your wallet is when you pay, right? Why should your car purchase broadcast to the world all the information that was leaked in the Bitcoin transaction,” the suggestion reads. “Additionally, the impact of attending a party at the brand new Tesla diminishes somewhat if all of your friends already knew the moment of their purchase because they were able to see the transaction on the Bitcoin blockchain,” the suggestion stated.
The suggestion comes amid some ongoing controversy over Monero’s privacy features and the ability to track XMR transactions. In November 2020, CipherTrace filed two patents for the technology that was supposed to be the cable to track Monero’s transactions. The Monero community has previously criticized CipherTrace’s ability to track XMR.