But what about Bitcoin?
The number of banks willing to do business with the crypto industry is shrinking
351–360 of 362 posts
Re: The number of banks willing to do business with the crypto industry is shrinking
#352Re: The number of banks willing to do business with the crypto industry is shrinking
#353Earlier quoted context omitted.
They produced 20 times more fully electric vehicles than toyota, honda, and ford combined in 2022. Tesla produced about 1.4 million all electric vehicles in 2022 with a growth rate of about 40%.[1] Toyota:1220 (The BZ4X is the only full electric sold in 2022)[2] Honda: I don't think they sell any all electric cars right now. None on this list[3]. Ford about 65 thousand.[4] [1] https://www.cnbc.com/2023/01/02/tesla-ts…
> Tesla produced about 1.4 million all electric vehicles in 2022 with a growth rate of about 40%. And their inventory is growing, their backlog is shrinking: https://twitter.com/TroyTeslike/status/1609346097733828609 And you are almost for sure American. Check out how many EVs/PHEVs were sold by: VW Mercedes BMW Renault Volvo Chinese manufactures Everyone is catching up to Tesla and it's going to be just a face in th…
I would love to see the numbers if you have them. EV and not EV/PHEV combined. That is definitely not the same and obscures the comparison. The Chinese are going to be the main Tesla competitors. There is a reason that the Chinese let Tesla own their plant in China 100% instead of making them a minor partner in a joint venture like everyone else. Telsa insisted and they gave in because they wanted to build up an EV manufacturing area with Tesla bringing lots of cutting edge tech and buy lots of batteries and other parts.
VM fired Herbert Diess, who was pushing EV very hard. Now VW EV production is decreasing.
"Everyone is catching up to Tesla and it's going to be just a face in the crowd in about 2-3 years." This has been said for many years. Time will tell of course.
Re: The number of banks willing to do business with the crypto industry is shrinking
#354Earlier quoted context omitted.
They produced 20 times more fully electric vehicles than toyota, honda, and ford combined in 2022. Tesla produced about 1.4 million all electric vehicles in 2022 with a growth rate of about 40%.[1] Toyota:1220 (The BZ4X is the only full electric sold in 2022)[2] Honda: I don't think they sell any all electric cars right now. None on this list[3]. Ford about 65 thousand.[4] [1] https://www.cnbc.com/2023/01/02/tesla-ts…
and Toyota sold an infinite times of hybrids than Tesla, which are more profitable, accessible, affordable. Your point?
Margins on Tesla cars are the highest of any major manufacturer. Ferarri is about the same.
Re: The number of banks willing to do business with the crypto industry is shrinking
#355Comments here are hilarious, while Visa is testing Ethereum network and Stripe, Paypal etc took a decade to use it.
Re: The number of banks willing to do business with the crypto industry is shrinking
#356Earlier quoted context omitted.
> Having a store of value is in fact appealing to the masses, especially those with weak national currencies. I think you're being overly generous in your estimation of the thought processes of the masses. All the normies I know that are into bitcoin (or talk about it) aren't into it because of "weak national currencies". The normies are into crypto because of hype and FOMO. "Hey did you hear, you can make a ton of m…
> The normies are into crypto because of hype and FOMO. Hype and FOMO are indeed drivers of growth, but those alone would not explain why rates of crypto adoption are highest in countries with large unbanked populations. Take a look at this website, which ranks countries by rates of crypto adoption: https://blog.chainalysis.com/reports/2022-global-crypto-adop... Then compare it to this chart from Statistica, which ra…
Well I was replying to your comment about general appeal of bitcoin to the masses. Your last question relates as to why certain countries are adopting first. I think that's an important distinction, might not be the same underlying reasons.
I don't have answers, but I can throw out potential answers that come to mind.
- I agree there's utility to the unbanked. Having a bitcoin is better than having nothing. Could be better than national currency depending on the country you're living in. I still suggest that those people would rather get their hands on $$$ if they could.
- A lot of crypto is used for crime. 419 scams come to mind (yes I know a lot are in $$$). The point is that some of the adoption in these poor countries could just be explained by criminal utility.
I appreciate your perspective. My point being I don't think it's that cut-and-dried. My gut says bitcoin is better than nothing, but $$$ are better still for most.
Lastly, and it's an important point I keep forgetting to make. Almost everyone into bitcoin are into it because of the $$$ they can later get out of it. That's a huge litmus test for me, telling me that it's not about the bitcoin to them. They want $$$ at the end of the day.
Re: The number of banks willing to do business with the crypto industry is shrinking
#357Comments here are hilarious, while Visa is testing Ethereum network and Stripe, Paypal etc took a decade to use it.
Wait until they realize that Ripple is running a good portion of financial institutions.. Seems like people prefer keeping their heads in the sand, nobody is here to convince anyone of anything though because for some reason most of the critics happen to be the most ingorant of the matter
Re: The number of banks willing to do business with the crypto industry is shrinking
#358There is no reason to be invested in crypto. It is no more valuable than a trading card and the volatile nature of trading cards are equal part. Noone also needs to invest in something that has an unsure future. While people would argue that it is like investing in stocks that crypto is the new Apple stocks of 80s. It simply isn't that stocks come with volatility but you own a share of the company as in you own that…
Yet banks do not close accounts of people selling, buying, designing, or printing trading cards, do they?
> it's nothing to worry about
> if we will ever catch you using that you will be punished
Re: The number of banks willing to do business with the crypto industry is shrinking
#359Bitcoin doesn't need banks. That's the whole point.
Bitcoin doesn't, bitcoin investors do. And until you can pay your Snickers at a grocery store with bitcoin, that won't change.
There's a huge fight to kill crypto adoption and this article is an example..
You won't be able to buy snickers everywhere in BTC, but we are slowly getting there.. The number of things I can buy with crypto is increasing significantly (now I pay for VPN, web hosting, domain nane, consulting, ... in crypto). In addition, probably firsties are not aware, but P2P networks without KYC are exploding everywhere. I can get cash for crypto in under one hour where I am. You can today go to a number of touristy countries and live of exchanging BTC for cash securely and with 0 identification. If this is not big enough then I don't know whay would be.
Re: The number of banks willing to do business with the crypto industry is shrinking
#360Earlier quoted context omitted.
They likely saw the $65K and listened to all the people that said it was going to $100K and never sold - watching it plummet. The "what if" scenario is pretty useless considering the entire point of any currency is to maintain value - which allows the predictable purchase of things creating an efficient market. One of the original arguments for BitCoin was that it would maintain it's value during inflationary periods…
Would you trust any asset to hold its value if it goes 20x in a short period? I feel like Bitcoin will be less volatile down the road when adoption has picked up. Aka it’s less of a crazy speculative investment and more of an actual currency.
The problem is that BitCoin is treated in a speculative manor which is generally not a good thing for currencies. Currencies are also traded but the fluctuations are generally small - when they start to get big (think Argentina) the country has a problem. An please don't say Dr BitCoin's magic elixir will fix all that because it has already demonstrated it can be forked (creating new bitcoin out of nothing) and lose value in an inflationary period. Both things touted as reasons to support it. Currencies serve a purpose - primarily to allow the exchange of goods and services. As far as I know I cannot purchase much of either with BitCoin without first converting to $$$. So it is not really a currency now or likely ever will be.