I have hope for something like Stellar and Lumens rather than Bitcoin. It's environmentally responsible, and it's here and ready right now given the network of anchors like AnchorUSD.
Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
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Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
#22Legitimizing Bitcoin more than offsets the environmental benefits of electric vehicles.
Fiat system costs a lot to run too, pretty sure this assertion debunked.
Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
#23The timing on this announcement appears designed to overshadow other Tesla news from this morning:
https://www.autonews.com/china/tesla-called-chinese-regulato...
Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
#24Musk has been pumping Doge on his Twitter feed a lot too. I wonder how much if this is about Musk thumbing his nose at the mainstream finance industry that he so clearly loathes as it is about anything approaching a valid business plan.
Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
#25Soon, a nation might realistically buy $100 B + of bitcoin and declare it a national currency.
Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
#26People paying attention to Elon's tweets [1] [2] saw this coming from a mile away. It'll be interesting to see if and when other big companies follow suit. In my opinion it's inevitable companies will start diversifying by a bit of exposure to Bitcoin but let's see how soon that will be.
[1] - https://www.reuters.com/article/us-tesla-cryptocurrency/tesl...
[2] - https://www.cnbc.com/2021/01/29/bitcoin-spikes-20percent-aft...
Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
#27Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
#28Legitimizing Bitcoin more than offsets the environmental benefits of electric vehicles.
What percent of the electricity used by Bitcoin miners is generated by fossil fuels?
My impression is that most miners are located to take advantage of locales with very cheap hydroelectric/geothermal or take advantage of subsidized/overbuilt renewables. But I could be wrong. Any data on this?
Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
#29Legitimizing Bitcoin more than offsets the environmental benefits of electric vehicles.
Fiat system costs a lot to run too, pretty sure this assertion debunked.
Good thing you are only pretty sure then because it's entirely false. Bitcoin needs several orders of magnitude more energy per transactions.
Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
#30I bought $100 of BTC a while ago for fun. I watched it go up and down and mostly up. I got bored, and sold it for cash to donate... literally an hour before the big spike just earlier.
I know about the fallacies of predicting the market. I understand 20/20 hindsight. But to actually experience it is such a strong lesson. To be flooded with, "ohhh I'm such an idiot!" and then think about how there's just no way I could have predicted this.