671–680 of 830 posts
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I'm afraid it makes sense if they are hedging bets against a major global economy...
Hedging against what? There are plenty of ways to hedge against inflation risk or currency risk without buying into an asset that can lose 50% or more of its value very quickly (and has, a number of times).
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Well, it’s not completely unrelated: bitcoin drives energy consumption, which in turn drives demand for batteries of all shapes, which are a massive part of Tesla’s business plan.
How's that energy consumption drives demand for batteries? Does gas consumption drives demand for spare gas canisters? IMHO rising energy price is totally not good for Tesla's and other electric car manufacturers. It increases TCO of electric vehicles and companies' cost of support for premium models with free charging access.
Energy-prices fluctuations are relatively irrelevant in the long run. Oil will run out, and renewables are the only hope to address energy needs without killing the planet. This message is well-understood by now, the transition has started, it’s just a matter of how fast (or slow) we get to the new normal.
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It's also a possible butterfly effect. Would Bitcoin have taken off without those specific few thousand coins in the economy? If even half of Bitcoin holders at the time thought they'd make it big and held, how could Bitcoin have had the liquidity to gain value?
liquidity never mattered because its not a currency
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Hedging against what? There are plenty of ways to hedge against inflation risk or currency risk without buying into an asset that can lose 50% or more of its value very quickly (and has, a number of times).
How would you suggest hedging against the death of fiat currency without buying a non fiat currency?
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Tesla's stock has never been a car manufacturer stock. That's why it has so much short-selling against it. If you value it as a car manufacturer and compare it's (underlying business numbers):(stock price) to anything else, it's insane. "at any company that made sense" is true, to a point. But the point of tesla has been, for a not-insignificant number of people, not meant to make sense. It's faith based. It's cult b…
The challenge for Tesla and Elon is that I don't see the exit strategy? If Elon sells off his Tesla shares in any sizable quantity, it seems the stock would drop massively. If Elon steps down his involvement or passed away, same thing. So it seems it needs to keep on the show until Tesla can actually sustain its value somehow through normal business operations.
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Execs in any public company routinely sell shares at a pre-determined rate every quarter. Execs besides Elon have been selling as part of the plan, and company employees are free to sell as well. According to SEC filings, Elon himself hasn't sold any recently, but he owns 20% of Tesla, worth about $10B today. Even if Tesla drops 10x, he would have $100M worth of shares. Not to mention all his other assets, shares in…
> but he owns 20% of Tesla, worth about $10B today. Tesla's market cap is $764.255B. 20% of that is $152.851B. https://finance.yahoo.com/quote/TSLA/
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Tinker with that by force of mining power and you will destabilize the currency. Maybe they want that, but it would probably end the currency if it was done by force.
> it would probably end the currency if it was done by force Sounds like you’re saying Bitcoin only has value because the PRC allows it to?
The owners of Bitcoin would just fork and switch to a different algorithm, ruining the value of existing mining hardware.
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Originally it was distributed in a very fair manner, compared to other coins; it had a faucet which required captcha solving to get coins: https://medium.com/nanocurrency/the-nano-faucet-c99e18ae1202 Now, yes, you have to exchange for it from other currencies, as there is a finite supply which has already been issued.
Yeah, see, finite supply entirely in the hands of early adopters doesn't really sound very legit to me.
Personally I didn't use it anyway, I just traded for the coin like anything else.
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The forefront of the Bitcoin frenzy isn't even on the blockchain, it's at the exchanges. Hardcore tech people and those who don't (or can't) trust institutions with their Bitcoin will pay the transaction fees to get their money out of exchanges and into their own wallet. The average retail investor, however, doesn't want to be their own bank. They just want in on the price action, while letting the exchange manage th…
>"Does anyone really think the person buying crypto $100 at a time in their Robinhood account wants to pay $18 (current average transaction fee) every time they want to move that BTC into their wallet?" I'm curious is this the transaction per $100 or is $18 a flat fee regardless of transfer amount?
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> it would probably end the currency if it was done by force Sounds like you’re saying Bitcoin only has value because the PRC allows it to?
> Sounds like you’re saying Bitcoin only has value because the PRC allows it to? Please learn how the Nakamoto Consensus works and how nodes protect the Bitcoin network while miners are slaves to the network. There's a rich history of this being tested by adversaries. https://news.ycombinator.com/item?id=26089898
The practical problem is that users have to download the entire dataset. There are a lot of queries that cannot be done exclusively through an index and require downloading a substantial amount of data. Bitcoin (and any decentralized app) is exactly the same. It's just that they replaced the central server with a proof of work consensus mechanism that makes it truly decentralized.
It's not a practical user experience. Lightning is just a fancy federated paypal. The average user won't care once Paypal and Mastercard support Bitcoin. The inability to scale causes Bitcoin to give more power to established financial institutions. It's ironic. Bitcoin will just be relegated to a settlement layer.