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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

#51

Post by lifty »

iujjkfjdkkdkf wrote: post #35

This is going to be one of those events that everyone points back to after the crash to show we had reached peak bubble. Like AOL buying Time Warner etc.

I get similar vibes from these events, even though I am a cryptocurrency optimist (including Bitcoin).

Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

#54

Post by Hamuko »

ludditetech wrote: post #22
exabrial wrote: post #3

Legitimizing Bitcoin more than offsets the environmental benefits of electric vehicles.

Fiat system costs a lot to run too, pretty sure this assertion debunked.

The annualised energy consumption of the Bitcoin network is currently between the United Arab Emirates and Argentina.

https://www.cbeci.org/cbeci/comparisons

Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

#55

Post by ddalex »

Waterluvian wrote: post #30

I 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 coul…

One should not ever sell Bitcoin, because it's a deflationary coin. Circulating Bitcoin is just lowering its value.

Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

#56

Post by yyy888sss »

exabrial wrote: post #3

Legitimizing Bitcoin more than offsets the environmental benefits of electric vehicles.

Bitcoin uses as much electricity as Chile and a single transaction has the same carbon footprint as ~700k Visa transactions. This may also be underestimated and account for around half of global data centre energy consumption as per a recent study. [1]

[1] - https://digiconomist.net/bitcoin-energy-consumption/

Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

#57

Post by antonios »

exabrial wrote: post #3

Legitimizing Bitcoin more than offsets the environmental benefits of electric vehicles.

Maybe, if you completely disregard everything else that Bitcoin puts on the table, and how much energy is required to sustain the infrastructure it will make obsolete.

Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

#58

Post by asenna »

DennisP wrote: post #31
exabrial wrote: post #3

Legitimizing Bitcoin more than offsets the environmental benefits of electric vehicles.

He should have gone for a proof-of-stake chain instead.

For investments from large institutions and companies, I don't think there's any other option out there with the security and regulatory support similar to Bitcoin and with a fixed total-supply.

Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

#60

Post by anewaccount2021 »

presently, this could be a great way to save a lot of money on a Tesla. You buy BTC...it rises...you buy a car with no cap gains paid on the increased BTC value. Compare that to holding a stock like AAPL...you have to take a big tax hit to convert it to USD to buy the car. In high-tax States where Teslas are very popular, this is a nontrivial amount
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