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Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

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Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

#151
post #105

Earlier quoted context omitted.

> who is sometimes misunderstood ("funding secured", "pedo guy", "Autopilot"). Did I misunderstand when I thought he was a liar in two out of three of those cases?

And I am curious which one of these is flexible enough to be construed as a truth.

It doesn't have to strictly be the truth.

Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

#152

In a way, buying Bitcoin is a bet on the timing of quantum computing.

Interesting comment! Note that there are cryptographers out there working on blockchains that are quantum resistant: David Chaum for example and its "xx" blockchain (which is still in beta but already has a few hundreds nodes running).

Oh people!

Since when medieval people invented Jets before the tech for Jet comes out!!

Sounds like Scam!

Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

#153

This is going to be one of those events that everyone points back to after the crash to show we had reached peak bubble. Like AOL buying Time Warner etc.

Yep. GME, SPACs, creative accounting, prices disconnected from earnings. There are so many signs now that we’re living through a bubble, and it may get much worse before it implodes.

The issue is there is so much money to be made in a bubble if you can just get out right at the end -- that unfortunately encourages these things. It is hard to wait on the sidelines while everyone else gets rich -- no doubt there are fortunes to be made in the lead up to the end of the bubble.

Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

#154
post #100

Earlier quoted context omitted.

Being Elon Musk is securities fraud.

To be fair, as Matt "Money Stuff" Levine likes to say, everything is securities fraud. https://www.bloomberg.com/opinion/articles/2019-06-26/everyt...

I'm looking forward to his take on Tesla/Bitcoin

Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

#155

I don't understand all the Crypto hate on this site. Since when have hackers become the luddites to new ways of finance?

Around the time Tether became the crypto fed and everyone just shrugged. It’s a scam. Maybe it always was.

Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

#156

One can hope this doesn't cause full-blown mania, followed by a crash. On it's own, this is a bullish development for BTC, but everything Elon touches, tends to generate a lot of hype... could be too much.

It will, that’s when you buy. This happens every single time, whether it’s $250 to $70 or $12,000 to $5,000 or $40,000 to $????... ride the wave.

The people who bought at <$20,000 are already in 100% profit so a great time to take some off the table if a crash were to come. (Which I think will happen)

Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

#157
post #3

Legitimizing Bitcoin more than offsets the environmental benefits of electric vehicles.

Our biggest environmental footprints as individuals are heating and cooling. Having an electric car is nothing compared to it. Take one intercontinental flight and again, having a fossil fuel car for a year does not exceed the emissions of that flight.

http://www.withouthotair.com/

Legitimizing Bitcoin has nothing to do with the environment in the large scale of things.

It's like saying that you need to optimize fast functions instead of slow ones.

Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

#158

I bought $100 of BTC a while ago for fun. I watched it go up and down and mostly up. I got bored, and sold it for cash to donate... literally an hour before the big spike just earlier. I know about the fallacies of predicting the market. I understand 20/20 hindsight. But to actually experience it is such a strong lesson. To be flooded with, "ohhh I'm such an idiot!" and then think about how there's just no way I coul…

You do illustrate exactly why no one should ever buy a Tesla in bitcoin, because it isn't currency, it is more of an asset like Gold. So why does Elon say that people will buy Tesla's in BTC then?

Re: Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

#160
post #112
post #81

Earlier quoted context omitted.

Tesla is not about being good for the env. It's about making money. Same thing with SpaceX not being about going to Mars. It's about making money too! The going to Mars/ good for env stories are to get some public goodwill behind them from a certain crowd.

Both companies were unlikely to succeed (and nearly failed). To me that is a strong indicator that profit is not the primary objective.

aren't most startups unlikely to succeed?
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