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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

#441

Post by jacquesm »

api wrote: post #354
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.

While I really dislike some of his behavior, this goal post moving to try to deny Musk credit for what he's accomplished annoys me. Before Musk we had no economical reusable launch systems, economical space flight was sci-fi, and in the 2000s there were many people who thought modern civilization must inevitably grind to a halt as we deplete oil because oil is absolutely irreplaceable for modern transport. SpaceX bui…

Yes, those comments are right up there with the 'what have the Romans done for us' list.

Like him or hate him, no point denying Musk his achievements, which are more than many of us here will manage in our lifetimes and Musk appears to be far from finished. His biggest enemy at this point is himself, that unstable streak is a real worry. But here's to hoping that he will notch up a longer list of achievements.

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

#442

Post by reader_mode »

sumedh wrote: post #415
reader_mode wrote: post #398

Earlier quoted context omitted.

>accelerated the adoption of electric cars by 10 years Did it really ? Tesla rode on the advances of battery tech driven by mobile devices, there were other EV efforts arround the time Tesla came up. I agree they recognised it early on and made it fasionable + they had this narrative driven market valuation which pressured other automotive execs to invest in the EV narrative. But 10 years is way too much - battery te…

> Did it really ? Electric cars were a gimmick before Tesla, almost no-one was taking them seriously, after Tesla that changed.

Like I said - this shouldn't be attributed to Tesla as much as it can be attributed to battery advances. Tesla capitalised on it first and in the best way (with a luxury/aspiration car) and that's worth something for sure - but it's not like it made a breaktrough that would take others 10 years to figure out.

In fact "affordable" Teslas (model S) came after competition like Leaf which was a best seling electric car up until recently.

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

#443

Post by user-the-name »

toephu2 wrote: post #358
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…

> The dude thought covid would go away last May. > He's thought that full self driving was 6 months away for literally 4 years now. He can't predict the future, so what? >He thinks it's easier to make Mars habitable than it is to keep the Earth habitable. He never said this. > And he didn't really understand what Bitcoin was when he sank 1.5 billion into it. How can you prove he doesn't understand what Bitcoin was?

> He can't predict the future, so what?

Literally everyone else with half a clue could predict that one correctly.

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

#445

Post by fastball »

TomSwirly wrote: post #303
fastball wrote: post #251

Earlier quoted context omitted.

I'm fairly certain it was not in violation of "the law", but rather in violation of edicts from unelected officials.

It makes me so sad that it's impossible to have a polite conversation these days without clinical paranoids popping in at every juncture to say, "COVID is a hoax! Public health officials are frauds! Medicine is meaningless!"

Huh?

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

#446

Post by King-Aaron »

TchoBeer wrote: post #432
sumedh wrote: post #415

Earlier quoted context omitted.

> Did it really ? Electric cars were a gimmick before Tesla, almost no-one was taking them seriously, after Tesla that changed.

Sure, if you don't count the Chrysler TEVan, the Ford Ranger EV, the honda ev plus, the Toyota RAV4 EV... also, if you ask me, a super expensive sports car should still count as a "gimmick". I give Tesla credit for reigniting excitement about EVs, but lets not oversell their achievement.

> Chrysler TEVa

The what?

> the Ford Ranger EV

The what?

> honda ev plus

The what?

> Toyota RAV4 EV

The what?

If you mention Tesla to literally anyone, they know about the cars. The product, and the marketing of it, have definitely brought EV's into the mainstream. Before that, very few consumers knew anything about EVs, maybe with the exception of the GM EV1. Now electric cars are a common sight on the road.

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

#447

Post by rblion »

I own $0 crypto. Good in theory but if you look at it very closely, the whole thing is a racket that enriches a few people manipulating the market and enchants millions of speculators who want to 'get rich quick'.

My gut says it's best to invest in myself and build things that are universally appealing and useful.

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

#448

Post by reader_mode »

King-Aaron wrote: post #446
TchoBeer wrote: post #432

Earlier quoted context omitted.

Sure, if you don't count the Chrysler TEVan, the Ford Ranger EV, the honda ev plus, the Toyota RAV4 EV... also, if you ask me, a super expensive sports car should still count as a "gimmick". I give Tesla credit for reigniting excitement about EVs, but lets not oversell their achievement.

> Chrysler TEVa The what? > the Ford Ranger EV The what? > honda ev plus The what? > Toyota RAV4 EV The what? If you mention Tesla to literally anyone, they know about the cars. The product, and the marketing of it, have definitely brought EV's into the mainstream. Before that, very few consumers knew anything about EVs, maybe with the exception of the GM EV1. Now electric cars are a common sight on the road.

Back in the Tesla Roadster days it was basically something fans of supercars and a few geeks knew about.

Nisan Leaf was way more recognisable than a Tesla for a while.

And also things like Prius really prooved the point that electricity can be used to power cars.

Not knocking on Tesla, they have a great brand and helped spark interest and speed up demand for EVs. But saying they advanced the adoption of EVs by 10 years is ridiculous.

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

#449

Post by Entwickler »

plebianRube wrote: post #408
Lramseyer wrote: post #393

I'm surprised that nobody's mentioned it here, but this crypto boom has sent demand for mining hardware through the roof, which has contributed in no small part to the chip shortage. Miners are buying up ASICs, GPUs and FPGAs at a premium. In the short term, crashing the crypto market can ease demand for semiconductors, but in the long term, getting cryptos to move to Proof of Steak will hopefully ease it up for good…

Proof of work keeps the network fair. Non mining nodes have the final say. Proof of stake lets players with the most money have the most say.

From https://vitalik.ca/general/2020/09/11/coordination.html "A large mining pool publicly showing how they have internally distributed their nodes and network dependencies doesn't do much to calm community members scared of mining centralization. And pictures like these, showing 90% of Bitcoin hashpower at the time being capable of showing up to the same conference panel, do quite a bit to scare people".

If you follow the link, you'll see a picture of 7 people that controlled 90% of Bitcoin hashpower at the time. Remind me how that's more fair to an arbitrary holder of Bitcoin, than say, letting the holders have the power with staking?

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

#450

Post by Animats »

sillysaurusx wrote: post #190
dang wrote: post #151

Some of the major threads in this saga so far: Tesla Makes More Money Trading Bitcoin Than Selling Cars - https://news.ycombinator.com/item?id=27142261 - May 2021 (171 comments) Elon Musk: Bitcoin's energy usage trend over the past few months is insane - https://news.ycombinator.com/item?id=27141493 - May 2021 (41 comments) Tesla no longer accepts Bitcoin due to climate impact - https://news.ycombinator.com/item?id=2…

This HN library work is so good. Thanks for these types of HN trees. I've been thinking of offering to help your team with some tooling work. But if you needed help, you'd probably find it somewhere. So I'll just cheer you on here. (A fella emailed me about Lumen the other day, asking what I thought about Scheme's (let ((a 1) (b 2)) ...) syntax. I said "If you want to, you can write a macro to implement Scheme. But L…

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