181–190 of 211 posts
Earlier quoted context omitted.
i get that Tesla is revolutionary in the car industry but it's stock pretty much goes up and down like a cryptocurrency. I have a strong feeling that people who love tesla stock also own crypto.
Is it revolutionary? What is the innovation behind it?
They've marketed non fossil fuel vehicles to consumers, which other car companies have not managed to do
Earlier quoted context omitted.
I think the guy is not completely sane, to be honest. Also, not as smart as most people tend to think he is.
Could be that he has separate money pools, and his "toy with markets for amusement" money is kept apart from his "get to Mars" money. It isn't "not smart" if he's just viewing it as a game and he has the means to do so. Lots of people have messed around with various systems for no reason other than to see if they can.
I don’t care to debate the merits of crypto, I am more interested how come the major US exchanges and players (Coinbase, BlockFi) all go down and then all come back up at the same time after bottoms were reached and the rebound. That’s incredibly suspect and warrants investigation. I’ve never not been able to access my ETrade account and trade (don’t bring up Game Stop) that didn’t affect ETrade and was debunked why…
I don’t care to debate the merits of crypto, I am more interested how come the major US exchanges and players (Coinbase, BlockFi) all go down and then all come back up at the same time after bottoms were reached and the rebound. That’s incredibly suspect and warrants investigation. I’ve never not been able to access my ETrade account and trade (don’t bring up Game Stop) that didn’t affect ETrade and was debunked why…
It’s not sketchy at all that price movements on exchanges are seemingly simultaneous. it’s because of automated arbitrage. Another factor (the prevalence of which is hard to measure) is that those who want to buy or sell large amounts (is whales) will chunk their orders and split them up across exchanges. These, especially the former, are signs of markets maturing.
The value of cryptocurrencies is currently comprised of just a 3 components: 1) Speculation 2) Electricity 3) Compute There's going to be volatility.
remove 2 and 3 and you have an accurate list. Electricity and compute don't drive the value of bitcoin, they follow it.
Earlier quoted context omitted.
remove 2 and 3 and you have an accurate list. Electricity and compute don't drive the value of bitcoin, they follow it.
Actually the cost of mining puts a soft price floor on Bitcoin. When prices touch the cost of mining, they face heavy resistance since miners rage quit at that point
Meanwhile, Elon Musk is trying to extinguish the fire. https://twitter.com/elonmusk/status/1395027147161489412
So bizarre that he would tweet this after coming out against Bitcoin for environmental reasons. The higher the price goes, the greater the incentive to spend more electricity on mining; for anyone who cares about the environment this crash is great news.
Tesla's addition to the S&P500 has gone a long way to propping up that share price and while one quarter in the red wouldn't be enough to boot them from the index, they're still in a precarious position when it comes to profitability. I don't think Musk is stupid enough to risk the share price on a Bitcoin bet.
So this is a roundabout way of saying "Musk probably has a considerable vested interest in keeping the price of BTC above $40k".
But I also believe - without proof, mind you - that they have sold at least 50% of their holdings at a profit anyway, so their downside is capped.