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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

#93

Post by codenotmath »

Hamuko wrote: post #76
yyy888sss wrote: post #56

Earlier quoted context omitted.

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/

The Cambridge Bitcoin Electricity Consumption Index gives a much higher estimate (78 TWh vs. 117 TWh), which makes it about the same as the annual electricity usage of United Arab Emirates (pop. 9.9 million). https://www.cbeci.org/

Tesla should have waited 3 more years until the next halvening.

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

#94

Post by criley2 »

cies wrote: post #81
speedgoose wrote: post #11

That's not good for the environment.

Tesla is not about being good for the env. It's about making money. Same thing with SpaceX not being about going to Mars. It's about making money too! The going to Mars/ good for env stories are to get some public goodwill behind them from a certain crowd.

If we're being honest, SpaceX is designed to gobble up government contracts. That's it. That's the whole business model.

If NASA offered contracts exploring the ocean depths then Elon Musk would be sinking Tesla's in submersibles.

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

#95

Post by ForHackernews »

Miner49er wrote: post #39
exabrial wrote: post #3

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

I think at a certain point, the only profitable way to mine BTC will be with energy that was going to be wasted anyway.

That depends how high the BTC bubble price goes.

At a certain point, mining BTC could be the only economically viable activity to do with electricity.

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

#96

Post by ihsw »

Pyramus wrote: post #77

2020 has completely changed my perception of Tesla and Musk. I had this image of a benevolent genius who is sometimes misunderstood ("funding secured", "pedo guy", "Autopilot"). Came across Teslacharts' podcast [1] (now the Chartcast) and oh boy was I wrong. This is only the latest in a long series of red flags around Tesla/Musk and however it ends, it will not end well. [1] https://thechartcast.com/

> however it ends, it will not end well

Can you be more specific?

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

#98

Post by api »

Pxtl wrote: post #24

Musk 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.

I think you win. He's already done this with his deliberate attempts to ruin TSLA shorts.

That being said doing this with a public company... if this guy isn't careful he's going to get barred from public markets and forced out of Tesla.

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

#100

Post by kgwgk »

Pyramus wrote: post #77

2020 has completely changed my perception of Tesla and Musk. I had this image of a benevolent genius who is sometimes misunderstood ("funding secured", "pedo guy", "Autopilot"). Came across Teslacharts' podcast [1] (now the Chartcast) and oh boy was I wrong. This is only the latest in a long series of red flags around Tesla/Musk and however it ends, it will not end well. [1] https://thechartcast.com/

Being Elon Musk is securities fraud.
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