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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

#441

Post by ddtaylor »

herpderperator wrote: post #414
shawabawa3 wrote: post #266

Earlier quoted context omitted.

You can use bitcoin without being vulnerable to quantum computing attacks, you simply have to never sign a transaction from the same address more than once (which is already considered a best practise for privacy)

How does that work?

When you spend Bitcoin you move coins from one public key to another, and you use your private key to sign the transaction. However, in Bitcoin you don't actually reveal the public key that the coins are being moved to, instead you reveal a hash of the public key.

The actual public key isn't revealed until the time those coins are spent.

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

#442

Post by valenterry »

quesera wrote: post #405
nly wrote: post #242

Earlier quoted context omitted.

The thing I've learned investing so far: never sell anything . It really only ever makes sense to sell if doing so will positively change your lifestyle, or you have no alternative. Examples of when selling might be a good idea are buying a house, retiring, going through hard times, loss of a job etc. Rebalancing is fine too, but I'd personally only bother to do that if your portfolio is massively distorted (like it…

> The thing I've learned investing so far: never sell anything. I once believed this to be a truth that I had learned. Then time moved forward, and I learned that it was not a truth. :)

Please enlighten us.

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

#443

Post by RhodoGSA »

afavour wrote: post #413
JohnJamesRambo wrote: post #371

Earlier quoted context omitted.

“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” -Satoshi Nakamoto Feb. 2009 If this isn’t resonating with you after the past year, I don’t know. I was forced to watch my government bungle a pandemic in the worst possible way and then asked t…

> I was forced to watch my government bungle a pandemic in the worst possible way and then asked to pay for it for decades. No I don’t think I will. That has very little to do with currency and everything to do with you not wanting to pay taxes. You may think that COVID response has been a catastrophic waste of money but if you'd lost your job would you have claimed the increased unemployment benefits? I suspect the…

The government forcing me to lose my job by shutting everything down and then giving me a little boost in unemployment does not make me greatful. It makes me resentful that i am forced to rely on them.

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

#445

Post by dmantis »

herpderperator wrote: post #414
shawabawa3 wrote: post #266

Earlier quoted context omitted.

You can use bitcoin without being vulnerable to quantum computing attacks, you simply have to never sign a transaction from the same address more than once (which is already considered a best practise for privacy)

How does that work?

Quantum computers can't find preimages of crypto hash functions, but potentially can recover private key if public key was disclosured. Your address is the hash of public key. When you reveal your address, you don't reveal your key. However, you do reveal your public key when making transfer from the address.

So if you change BTC address every time you receive a tx, you will reveal only obsolete public keys which point to empty addresses. Almost all self-hosted wallets do that by design, it's an official recommendation to wallet security and privacy for several reasons (this one is just one of them).

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

#446

Post by xiphias2 »

scsilver wrote: post #354
xiphias2 wrote: post #137

Earlier quoted context omitted.

Lots of countries are already putting Bitcoin in their pension fund, but keeping it secret. Microstrategy's institutional interview series had some interesting insider information about it without naming the countries themselves.

Do you have a link?

The sessions are up, I listened to all of it, but 99% of it is really boring.

https://www.microstrategy.com/en/resources/events/world-2021...

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

#448

Post by Hamuko »

fasteddie31003 wrote: post #88

I don't understand all the Crypto hate on this site. Since when have hackers become the luddites to new ways of finance?

Just because it's new doesn't make it good or valuable. If I was looking for a new way of finance, I'd prefer it to not be a massive electricity sink.

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

#449

Post by lottin »

RhodoGSA wrote: post #409
lottin wrote: post #322

This is very worrying. Don't they have financial advisors at Tesla? An automaker should focus on making cars. This is what they specialise in and what they are good at. They should not be speculating with financial assets. Tesla shareholders can do that themselves, if they wish to.

Tesla is not an automaker and i don't know why people keep calling it that. It is a technology company. It's designed chips, software, Cars, trucks, manufacturing lines, battery's, solar panels - And oh my god, if you saw the random products the engineering team designed in Keto Factory outside Fremont, you'd think very differently about Tesla as a company.

What's a technology company?

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

#450

Post by aseerdbnarng »

JohnJamesRambo wrote: post #371
rzodkiew wrote: post #338

Bitcoin is a mystery to me. Somehow it's hailed as revolutionising the economy, by replacing currency with a worse kind of currency. It feels like this is where all the "how to get rich quick" book writers and other hustle bros went and created one giant financial pyramid, which works in quite simple way: - buy bitcoin - tell everyone around how revolutionary it is, so they buy it and what you holding increases in va…

“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” -Satoshi Nakamoto Feb. 2009 If this isn’t resonating with you after the past year, I don’t know. I was forced to watch my government bungle a pandemic in the worst possible way and then asked t…

People dont use dollars because they choose to. They use dollars because they have to. The US government doesnt need to earn dollars to spend them. It simply has to require for us to earn dollars to pay it taxes to enforce the use of its currency.
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