Cryptocurrencies are a decentralised P2P digital version of Bernie Madoff.
Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
861–870 of 1001 posts
Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
#862Blockchain technology creates object permanence in digital spaces.
Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
#863Meme stock company buys meme currency, such surprise.
Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
#864Earlier quoted context omitted.
I agree. What's also absurd is that Tesla raised $5B and now is parking 30% of that in Bitcoin, which we all know has a unique history of volatility. This is not going to end well.
If the reports of BTC going to 100K by EOY are true, they just turned $1.5B into ~$4.5B.
> reports of BTC going to 100K by EOY
uh...reports is a very generous word for speculative guesses
If btc was definitely going to 100K by EOY, it would already be worth at least 90k today
Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
#865YFFA (your favorite fintech app) still has many advantages over Bitcoin.
When sending money:
YFFA free, Bitcoin not free
YFFA instant, Bitcoin not instant
YFFA has fraud protection, Bitcoin does not
YFFA approved by government regulation, Bitcoin still not
However, there is one thing YFFA does not give you, a shot at 10x or 100x your money.
Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
#866Tesla needs it. Next few years are going to be rough for the Tesla with all big auto makers selling EVs.
Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
#867Earlier quoted context omitted.
>There is not a single alternative service in the world that would have made this possible. Are you kidding me? >If people thought a little beyond their personal use cases, they would understand the utility of Bitcoin/crypto for many others. What use case is that? Skirting AML regulations? You think governments will allow that?
« What use case is that? » Sending money to an unbanked person in severe financial hardship, for food & shelter. Nothing else worked. Not WU. Not TW.
I understand the convenience of skirting AML regulations when sending money. I'm saying that's not a real use-case because it's going to go away when government and regulatory bodies crack down on it.
Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
#868so they basically just cancelled out any carbon footprint reduction their company does
Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
#869Earlier 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…
We're tired of war currencies, let's do better.
There's a lot more than this, but at the heart of this debt system is a war machine.
Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future
#870YFFA (your favorite fintech app) still has many advantages over Bitcoin. When sending money: YFFA free, Bitcoin not free YFFA instant, Bitcoin not instant YFFA has fraud protection, Bitcoin does not YFFA approved by government regulation, Bitcoin still not However, there is one thing YFFA does not give you, a shot at 10x or 100x your money.
And most people in the world can't sign up for an YFFA. (not that Bitcoin is simpler or without its problems, but at least anyone could use it).