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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

#311

Post by bob33212 »

andysinclair wrote: post #238

Here is the key paragraph from todays 10k. It also mentions gold related assets. ( https://www.sec.gov/Archives/edgar/data/1318605/000156459021... ): "In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity. As part of the policy, which was duly approved by the Audit Commit…

All global companies with cash reserves "Maximize returns on Cash" via currency and other investments and hedges.

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

#312

Post by gegtik »

pratik_kanthi wrote: post #275
Pyramus wrote: post #77

2020 has completely changed my perception of Tesla and Musk. I had this image of a benevolent genius who is sometimes misunderstood ("funding secured", "pedo guy", "Autopilot"). Came across Teslacharts' podcast [1] (now the Chartcast) and oh boy was I wrong. This is only the latest in a long series of red flags around Tesla/Musk and however it ends, it will not end well. [1] https://thechartcast.com/

On the scale of time and things, his endeavours are significant. It is of extreme importance that we colonise mars. That is the single maxim by which I will judge Elon. He might me manipulative but he's not on the wrong side of humanity.

I think keeping the earth livable outranks living on a distant, hostile, desert planet. Mars is a close second, I'll give you that

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

#313

Post by rax0m »

graeme wrote: post #249
buildbuildbuild wrote: post #201

Cryptocurrency is a blind spot where Hacker News’ normal optimism towards innovation has disappointed for a decade. May this thread be one we can reference years later as another example of “our collective opinions can be very wrong about technologies that were transformative in hindsight.” Innovators, follow regulations and go for it. Don’t let the HN crowd get you down. Few of these commenters have ever been unbank…

What exactly is the bull case for bitcoin? I have not seen it clearly explained. I’ve got an open mind. In more specific terms you mentioned the unbanked. How does crypto solve the problems that leave them unbanked?

Graeme I've got the perfect article for you [1].

[1]: https://vijayboyapati.medium.com/the-bullish-case-for-bitcoi...

Please let me know what you think

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

#314

Post by kenneth »

Pxtl wrote: post #179
Pyramus wrote: post #77

2020 has completely changed my perception of Tesla and Musk. I had this image of a benevolent genius who is sometimes misunderstood ("funding secured", "pedo guy", "Autopilot"). Came across Teslacharts' podcast [1] (now the Chartcast) and oh boy was I wrong. This is only the latest in a long series of red flags around Tesla/Musk and however it ends, it will not end well. [1] https://thechartcast.com/

For me the thing that soured me on him was his fixation on Tesla being the solution to all urban transportation problems and his loathing of public transportation. He lived and worked in the Bay Area and L.A. - he's intimately aware of how pathologically bad car-oriented low-density city planning is, which is why the most economically successful place in the world is so hilariously bad to travel in. But his hatred fo…

He lives and works mostly in Texas now, and used to live in LA, with some time in SF

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

#315

Post by DennisP »

Closi wrote: post #192
fasteddie31003 wrote: post #88

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

> I don't understand all the Crypto hate on this site. Since when have hackers become the luddites to new ways of finance? For me, it's because nobody can explain what the value offering of Bitcoin is - mainly the question 'what can I actualy do with a bitcoin?' . It's a bad currency because it is slow to exchange and costs lots of money to exchange - I can't use it to buy my coffee in the morning. It's a bad non-spe…

If another cryptocurrency fixed the scaling problem so it could be used as a currency, would you have a different view?

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

#316

Post by RhodoGSA »

Traster wrote: post #268

This really seems like yet another failure in governence. There doesn't seem to be any good reason for a car company to be investing in crypto currency other than their CEO's personal interest in the technology. If you have something productive to do with the money, invest it in your business. If you do want to keep money on hand for investments, investing in such exotic instruments seems weird, you want something re…

Or, if you throw <10% of all your money in an account, have no liquidity problems, start an absolute stampede to buy the 'limited' amount of bitcoin and in 5 years, <10% of all the money you invested makes you 50% profit for that year. Pretty good bet to me, and i've been heavily invested in bitcoin since 2015.

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

#317

Post by dandanua »

randomsearch wrote: post #246
RasputinsBro wrote: post #150

Earlier quoted context omitted.

"pedo guy" was the thing that broke the camel's back for me. When you have millions of followers and billions of airtime on you, it's absolutely inexcusable to call a random guy a pedo. When he did that my view of him went from a "fake it till you make it" type, to a dishonest and malicious person.

So when he insulted someone he was having a dispute with, you decided to discount his life’s work?

He is a manager and a leader, he did not build Tesla and SpaceX by his own, nor he invented those technologies. As a leader, he is responsible to well behave and show example to others. Instead, he looks more like the Trump's type of a guy with narcissistic personality and disrespect to simple people, who can only manipulate them.

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

#318

Post by burkaman »

febeling wrote: post #219
exabrial wrote: post #3

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

Bitcoin miners use surplus energy in remote places with lots of thermal or hydroelectric power. Remote China and Iceland. This electricity often can't be put to any other use anyway. The price of energy is probably enough to ensure this. Besides, the cost of maintaining Bitcoin has to be compared with holding up a fiat currency empire like the US. This requires lots of military, suppression of democracy and generally…

Energy grids are very big, and are planned very intentionally. Renewable energy produced in remote places is often used to power far away cities. It's very unlikely that a consistent energy source capable of powering a large bitcoin mine would not be integrated into the grid if the mine wasn't there.

Here's some further reading:

https://www.wired.com/story/bitcoins-climate-impact-global-c...

https://www.cell.com/joule/fulltext/S2542-4351(19)30255-7

https://decrypt.co/43848/why-bitcoin-miners-dont-use-more-re...

https://digiconomist.net/bitcoin-energy-consumption

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

#319

Post by gonzo41 »

Pxtl wrote: post #179
Pyramus wrote: post #77

2020 has completely changed my perception of Tesla and Musk. I had this image of a benevolent genius who is sometimes misunderstood ("funding secured", "pedo guy", "Autopilot"). Came across Teslacharts' podcast [1] (now the Chartcast) and oh boy was I wrong. This is only the latest in a long series of red flags around Tesla/Musk and however it ends, it will not end well. [1] https://thechartcast.com/

For me the thing that soured me on him was his fixation on Tesla being the solution to all urban transportation problems and his loathing of public transportation. He lived and worked in the Bay Area and L.A. - he's intimately aware of how pathologically bad car-oriented low-density city planning is, which is why the most economically successful place in the world is so hilariously bad to travel in. But his hatred fo…

Tesla really should take over the electric bicycle market. I'd be a musk convert then. But seeing the Cyber Truck, I just can't see that as a real future for our cities.

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

#320

Post by RhodoGSA »

lm28469 wrote: post #127
fasteddie31003 wrote: post #88

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

Cryptos are purely a speculation vessel, they don't fix many of the problems they claim to fix and add tons of problems over other currencies I'm fine with cryptos as long as they're not pitched as something they're not

Look at polkadot. You can exchange any arbitrary data across parachains. How is that not the internet but better?
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