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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

#501

Earlier quoted context omitted.

We can do both at the same time and we should.

"Global Warming" is about the Earth going ~2C to 4C out-of-whack with our traditional norms over the next century or so. Mars is about being at -60C all the time, or roughly 80C away from what humans want. And temperature isn't even the worst part: Mars doesn't have enough oxygen for Humans to survive. Mars doesn't have enough nitrogen for plants to grow (and make oxygen). Mars doesn't have enough gravity to keep a d…

There's 7 billion human brains on earth. We can spare a couple to focus on making our species multi-planetary while the rest deal with cleaning up the mess at home. It's unreasonable to expect the entire human race to stop what they're doing and focus on one issue.

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

#502

Earlier quoted context omitted.

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…

Wrong topic?

Sorry if it sounded out of place. The context is that Dan's team does so much impactful work thanks to powerful software. But for various reasons, a lot of the required knowledge is esoteric. (Do you know how to write an emacs library to provide proper indentation for arc? If not, are you ready to dive in and learn, without extensive supervision?)

It's also crucial for HN team members to be trustworthy and effective. I'm pretty sure that access to the core HN infrastructure is limited to very, very few people – it has to be. For example, pg used HN to keep notes on startups he was meeting with during office hours. And that's just one of dozens and dozens of sensitive areas. For obvious reasons, no one can have access to those except extremely trustworthy, capable people. Worse, you can't grant access to code related to those things without also revealing the purpose of those sensitive areas. Abuse detection is possibly the mildest example, but I imagine the standard deviation on surprise is extraordinarily high for a random HN feature.

Those two things (esoteric knowledge requirements + {competent,trustworthy,motivated}) means that Dan and his team are often short-handed. I am speaking from ignorance here, but it would be remarkable if they somehow weren't. The YC software team also covers a huge amount of territory as of today, from maintaining ycombinator.com's Rails codebase to keeping "Work at a Startup" infrastructure running smoothly. Some of it needs HN integration, like the ability for the YC application to cross-reference the HN usernames of each founder, which seems to use some sort of oauth token that I'm sure wasn't effortless to get working in Arc.

The most well-placed person to do all of this work is Dan, but Dan himself has to spend a majority of his time moderating HN. Yet through all that work, he still finds the time to create megathread indexes like this one. So, knowing what I know, when I see that, I can't help but take off my hat for a moment and say something. Apologies for the confusion.

Dan also helped design Lumen, a Lisp that bootstraps itself entirely in Javascript or Lua: http://github.com/sctb/lumen I fell in love with it around... five years ago? Something like that. And to this day I still write code in it all the time: https://news.ycombinator.com/item?id=26804484 (I've been meaning to ship a Tensorflow/Pytorch code generator, one of these days.)

The last aspect of it is that I once had an opportunity to work on getting him some desperately-needed tooling back in 2016, but I totally blew it. The first thing he asked for was an Arc indentation plugin for Emacs, which I had never touched till then. Unfortunately my life was in complete chaos at the time (https://gist.github.com/shawwn/3110ab62fa027c7811578f167fa5a...) and various things were happening that made me turn bitter, to say the least. ("Crazy-seeming dickhead" might be a better phrasing, depending on who you ask.) I ended up delivering nothing, when I could have improved his workflow substantially. (I myself have been using some Arc vim indentation plugin I found somewhere around a decade ago, and god bless whoever wrote that; it's been so lovely. So I know how important that kind of thing can be.)

Once I got my life in order, and have had several years to reflect, I realized what a unique and cool opportunity it was that I squandered, and I've regretted it ever since. So that was the middle paragraph talking.

But! I had my shot, and you might be able to get one too. If you (or whoever's reading this) happens to have a unique combination of skills, a lot of free time, and are willing to work extremely hard, then I encourage you to email hn@ycombinator.com and tell 'em you're willing to lend a hand with whatever odd jobs they need. They'll probably appreciate it.

Or maybe they don't need anything. That was 2016, this is 2021, and HN has been running fantastically well all this time. That's why I shall settle for the cheerleader role. :)

Anyway, this is all entirely off-topic, so if it's inappropriate then please feel free to collapse or detach it, of course. But in my opinion that whole infrastructure hemisphere is one of the more interesting places in the world, a bit like Hogwarts, so I wanted to ramble a little bit. Back to ML!

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

#503
post #395

Earlier quoted context omitted.

Tesla proved rich people buy rich people things. SpaceX proved government budgets aren't scrutinized enough. Not particularly shocking.

What an idiotic thing to say. This is just pure 'I don't like this person so I'm gone shit on everything he does' syndrome. Rich people buy rich people things, yes, and it matter if its a gas car or an electric. And it matter if the battery industry was transformed by that. And it matters that the image of electric cars was transformed. It matters that the largest fast charging network in the world was financed by th…

All of your points about government budget bloat only seem to support

>SpaceX proved government budgets aren't scrutinized enough.

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

#504

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.

pwning libertarians is ok in my books!

(ooooh, was there lead in your hamburger? just the price of freedom, I guess! if you don't like it, you can go eat fiat hamburgers like the plebes.)

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

#505

Earlier quoted context omitted.

>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.

Telling people that you bought a certain stock isn't illegal wtf. Have you watched CNBC or Bloomberg? They have hedge fund operators come in and praise or criticize stocks that they have bought or sold short.

It is when you do it for the purposes of market manipulation.

Intent matters, which also makes market manipulation so difficult to prove.

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

#506
post #413

Earlier quoted context omitted.

Vaccinations weren't an option last May, which is when Musk was saying Covid would be gone by, not this May.

Vaccinations could've been an option last May. The mRNA vaccines were designed days after receiving a full genetic sequence of the virus (in January). Those are the same two vaccines we are currently injecting people with – we just spent a long time on trials/approval/ramping up production. Far longer than necessary.

Previous attempts at mRNA vaccines had failed, due to the side effects being too serious. There was no reason to believe in May 2020 that a COVID mRNA vaccine would be any different than all the previous mRNA failures.

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

#507
post #313

Earlier quoted context omitted.

This looks like a pump and dump scheme in its finest form. Nothing changed over last year in regards to energy consumption. There's no way that Elon or those in Tesla discussing this were not aware of this prior.

Yes, except Tesla is still holding a massive amount of bitcoin. Maybe they want their books to show a loss next quarter?

Or maybe privately Elon and related made buys and sells before, during and after these news events. Something like:

1. Buy BTC 2. Announce Tesla will accept BTC. 3. Sell BTC. 4. Announce Tesla will no longer accept BTC.

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

#508
post #132

Daily reminder that the market cap does NOT exist therefore it can not be "wiped off". Its imaginary nonsense. Market cap explained real simple: https://coil.com/p/XRPFax/Understanding-the-Crypto-Market-Ca...

Do you agree that this applies to the market cap of everything?

Because the argument is stated in terms of crypto but is in fact completely generic: no one can buy all of AMZN at the market cap price either.

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

#509

Earlier quoted context omitted.

>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.

It's not illegal to sell a security after disclosing that you own that security. I don't even have to point to any specific laws, just look at all the websites that talk about stocks operating without any SEC intervention.

It is illegal to "pump and dump" a security.

I have a hard time believing the people here defending Musk dont know this, and can't see how his behaviour _migbt_ qualify as a pump and dump.

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

#510
post #31

Very perplexing behavior from Musk, I must say. Bitcoin's energy consumption has been front-and-center for a few years now and even more so when the bull market got hot. How does Musk decide to throw $1.5 billion worth of Tesla's cash into BTC without acknowledging this? I was expecting a little bit more due-diligence from him, but he's been absolutely consumed by crypto markets in general.

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