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$365B wiped off cryptocurrency market after Tesla stops accepting Bitcoin

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Re: $365B wiped off cryptocurrency market after Tesla stops accepting Bitcoin

#371

Post by tpmx »

dragontamer wrote: post #365
tpmx wrote: post #359

Earlier quoted context omitted.

(Sorry, you caught my post while I was editing it in the first two minutes.) I don't see why shouldn't try to do both: a) Lower the earth's surface temperature b) Begin the process of building a backup of humanity on Mars

Because B) is a waste of time, money, and effort. Whether or not A) is true has nothing to do with whether or not B) is worth doing. There's no reason to imply that I'm making a false dichotomy fallacy.

I'm sorry, but short of instating a dictatorship you can't really stop people betting on things you don't like.

Re: $365B wiped off cryptocurrency market after Tesla stops accepting Bitcoin

#372

Post by jussij »

dylan604 wrote: post #308
onion2k wrote: post #229

Earlier quoted context omitted.

SpaceX wins lots of space contracts with the help of Musk's "Occupy Mars" marketing. Tesla sells lots of cars on the promise of self-driving in the marketing. Musk bought BTC, single-handedly pumped the price of BTC, and then sold at a huge profit. I don't think he's a genius but Musk is definitely not stupid. He's just not playing the obvious game you think he's playing.

>Musk bought BTC, single-handedly pumped the price of BTC, and then sold at a huge profit. Doesn't this have legal ramifications when done in the stock market? If it is shady for that market, why is it acceptable in other markets? Oh, right, they're not regulated.

> Oh, right, they're not regulated.

Wasn't that one of the big selling points of BTC?

Re: $365B wiped off cryptocurrency market after Tesla stops accepting Bitcoin

#374

Post by Havoc »

captn3m0 wrote: post #52
bknybkny wrote: post #32

Earlier quoted context omitted.

I thought SHIB was dead because Vitalik gave it the rugpull?

The charity he donated to is going to liquidate it over time to protect the community. It's ridiculous. https://twitter.com/CryptoRelief_/status/1392559057764962304

That protects nothing. Constant sustained selling pressure drives something down just as well as someone dumping. In a way it’s worse because it’s certain and there is no room for hope of a quick recovery like in a crash

Re: $365B wiped off cryptocurrency market after Tesla stops accepting Bitcoin

#375

Post by deckard1 »

murgindrag wrote: post #22
sp332 wrote: post #13

Earlier quoted context omitted.

Someone finally securitized the reality distortion field.

Hey, I accept pieces of paper (and now bits in a computer) for my valuable work, and bought a valuable home, car, and computer with those papers and bits. Money works purely on belief. If we all suddenly disbelieved in the dollar, the value would be zero. Curiously, most cycles of hyperinflation come more from loss of faith than from money printing. When people lose faith in a currency, they sell it off as a value st…

> suddenly disbelieved in the dollar

you can disbelieve in the dollar. But you can't disbelieve in the Secret Service/US military showing up and kicking your ass

Re: $365B wiped off cryptocurrency market after Tesla stops accepting Bitcoin

#376

Post by [deleted] »

tpmx wrote: post #233
pkulak wrote: post #220

Earlier quoted context omitted.

Cus he's not that bright. Isn't this the elephant in the room that no one wants to consider? Why do we have to start with the assumption that Musk is a genius, then work back from that? The dude thought covid would go away last May. He thinks it's easier to make Mars habitable than it is to keep the Earth habitable. He's thought that full self driving was 6 months away for literally 4 years now. And he didn't really…

No comment on how smart or stupid Elon is (he is somehow effective ), but I'm with you on all of those things except "He thinks it's easier to make Mars habitable than it is to keep the Earth habitable": The concept of having humans on another planetary body makes a lot of sense as a backup-plan for humanity. The Drake equation be damned - in case we're actually alone, we have a pretty strong moral requirement to mak…

[deleted]

Re: $365B wiped off cryptocurrency market after Tesla stops accepting Bitcoin

#377

Post by AdamJacobMuller »

pjc50 wrote: post #192
paulpauper wrote: post #61

Earlier quoted context omitted.

The crypto market is so big now that it's hard to imagine enough new money to make prices go up anymore. How does anyone justify these obscure tokens and coins being worth billions.

The tether printer can print as much as they want.

I'm sorry, tether is fully backed by seriously real US dollars. I mean they released a pie chart and everything.

Re: $365B wiped off cryptocurrency market after Tesla stops accepting Bitcoin

#379

Post by dragontamer »

tpmx wrote: post #371
dragontamer wrote: post #365

Earlier quoted context omitted.

Because B) is a waste of time, money, and effort. Whether or not A) is true has nothing to do with whether or not B) is worth doing. There's no reason to imply that I'm making a false dichotomy fallacy.

I'm sorry, but short of instating a dictatorship you can't really stop people betting on things you don't like.

I'm not saying you're not allowed to work on it. If its a task you feel like wasting your money on, that's fine.

But don't expect me to support the effort by any means, not until you give me an argument for why Mars Terraforming would be a worthwhile use of resources I control or resources I have otherwise influence over.

Re: $365B wiped off cryptocurrency market after Tesla stops accepting Bitcoin

#380

Post by SavantIdiot »

kevinbache wrote: post #283
pkulak wrote: post #220

Earlier quoted context omitted.

Cus he's not that bright. Isn't this the elephant in the room that no one wants to consider? Why do we have to start with the assumption that Musk is a genius, then work back from that? The dude thought covid would go away last May. He thinks it's easier to make Mars habitable than it is to keep the Earth habitable. He's thought that full self driving was 6 months away for literally 4 years now. And he didn't really…

He's single handedly accelerated the adoption of electric cars by 10 years while advancing literal rocket science to the point where launches will be done 10x cheaper. For those of us who measure by outcomes, he's a genius.

Tesla proved rich people buy rich people things.

SpaceX proved government budgets aren't scrutinized enough.

Not particularly shocking.

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