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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

#711
post #224

Earlier quoted context omitted.

Making rockets reusable uses more fuel but requires more raw materials to be mined, refined, and fabricated into parts. It's a tradeoff. The chief argument for reuse is cost, not emissions.

"More fuel" is irrelevant its about pollution. You can never make parts without using a fix amount of resources and energy and if they are used they will end up as waste which is pollution too. Fuel however is just energy in a specific form. If the fuel is created with electric energy and it all comes form coal then it pollution is high but there is a clear path to reduce it down the line. There is no such path with…

Unless you quantify the marginal energy cost of carrying additional fuel payload and recovering a component, convert it to an environmental impact quantity, and compare it to the environmental impact of marginal construction, you shouldn't make claims that sound correct in your head but are not backed up by anything. There's a tradeoff and we don't know which one has greater negative externalities. Not all cost of marginal production is allocated to energy and materials.

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

#712
Musk might be claiming this is about the environment, but it might also be a concern about real liquidity of Bitcoin assuming Tether is a scam and will collapse. Of cause if that was the case you wouldn’t say it out loud, but instead find some way of stopping the exchanges of tether backed Bitcoin for Tesla’s, while quietly trying to offload as many bitcoins as possible in the floating market before it implodes. Probably you’d find some silly excuse for doing this like saying your trying to save the trees of something. Because being honest would push the implosion closer.

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

#713
post #354

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…

Yeah he has definitely helped push (and unwilling and petrol addicted) civilization a lot more towards EVs despite what the denialists want to have us think. However he's neither a messiah like the Muskavites would have us believe nor is he an evil mustache twiddling villain like the other side would have you believe.

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

#714
post #405

Earlier quoted context omitted.

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.

> He's single handedly Fun reminder, Musk did not start Tesla and bought his way into the company. His involvement should not be understated, but it's had years of management shuffles and changes of direction. https://en.wikipedia.org/wiki/History_of_Tesla,_Inc .

Yes but he still stayed in there when everything was going to shit and got enough investors to keep the company alive and now the company is doing quite well.

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

#715

Earlier quoted context omitted.

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.

Single handedly? I'll say the same as when people described Steve as a genius, he is an accomplished marketing machine but genius is reserved for the like of Einstein and Feynman. Do you think SpaceX and Tesla were Musk's idea? Or were they the recommendation of the MBAs hired to research subsidized industries with significant barrier to entry? It is not that he isn't successful but he is no genius, he just has the m…

Because genius can only exist in physical sciences and mathematics. That's all I got from your post.

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

#716

Earlier quoted context omitted.

They only declare their sales after the fact. There is a chance that Tesla owns no bitcoin at this time. Probably they still do, but...

Then won't they get in trouble? The most recent statement directly says they have not sold any, just stopping accepting payments in it. That would be an explicit lie then, something the SEC has jurisdiction over? (I'm not actually sure)

Is the SEC regulating bitcoin now? No. so they couldn't do a thing. Bitcoin isn't a security.

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

#717
post #87

Earlier quoted context omitted.

It is incredibly hard to imagine that the upside in Musk's personal Bitcoin stake, whatever it is, is anywhere close to approaching his personal stake in Tesla. Something like 70% of his net worth is Tesla stock. It would be unbelievably stupid to jeopardize the value of the Tesla stock to pump up the value of his Bitcoin holdings. Some of these anti-Musk conspiracy theories are truly crazy especially considering the…

> It is incredibly hard to image that the upside in Musk's personal Bitcoin stake, whatever it is, is anywhere close to approaching his personal stake in Tesla. Something like 70% of his net worth is Tesla stock. It would be unbelievably stupid to jeopardize the value of the Tesla stock to pump up the value of his Bitcoin holdings. I think it's fair to suspect something here though, and question Musks behavior these…

You can both want to change the world (as much as you can) and make money. They aren't mutually exclusive no matter what Marxists will tell you.

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

#718

Earlier quoted context omitted.

The risk of Covid has never been the individualized risk. It's the collective risk of what happens when hospitals and ICUs reach capacity when too many people catch Covid at once. For example, what is happening in India. This was widely known in the US on the first week of March in 2020. When hospitals reach capacity, people in their 40s and 50s become much more likely to die from Covid. Lots of preventable loss of l…

>For example, what is happening in India. What is happening in India? The death rate per capita there is still way less than in the US or UK. How come the death rate in Florida is less than that in California and New York, in spite of no lockdowns and an older population in Florida? There's no statistical evidence that countries with stricter lockdowns had a lower death rate than those without.

I think it's well understood that deaths in India are massively underreported.

California and New York both came close to having their health care systems overwhelmed in certain counties, Florida did not. That's exactly my point.

> There's no statistical evidence that countries with stricter lockdowns had a lower death rate than those without.

Honestly, you would expect it to be the other way around. Lockdowns are a last-resort tool to prevent healthcare systems from being overwhelmed. You would expect areas that implement lockdowns to be either denser (thus, hypothetically having less warning time between rising case counts and hospital saturation) or, more likely, to have an existing large scale Covid problem that they need to get under control.

Lockdowns are correlated with bad Covid outcomes because lockdowns are implemented in places that are liable to, or are already having, bad Covid problems.

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

#719
post #609

Earlier quoted context omitted.

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.

Allowing people to buy cars in bitcoin and telling people might be.

Then maybe Satya Nadella should've been put in prison first. https://www.marketwatch.com/story/microsoft-starts-accepting...

Start with the guy who started accepting bitcoin for pizza.

https://ln.pizza/myfirstbitcoinpizza/

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

#720

Earlier quoted context omitted.

It's not much different from the current fiat monetary regime. Those closest to the money spigot benefit the most... cryptocurrency opens it up to individuals rather than limiting it to governments.

I've always wondered why people say crypto isn't a "fiat currency." It only has value because some people say it does. And it doesn't have an Army, Navy, and Air Force to defend it, like the U.S. Dollar has.

The dollar only has value because you are forced to pay the government with it to pay taxes or else you go to prison/get beat to death for protesting. The nice thing about crypto is the absence of a mafia threatening my life if I refuse to use it :)
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