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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

#491

Post by LeoPanthera »

PeterisP wrote: post #455
LeoPanthera wrote: post #452

Earlier quoted context omitted.

You discount the entire category of users who don't "hold" any cryptocurrency at all, but use it as a medium of transfer - buying as much as they need and then transmitting it elsewhere.

As much as they need for what? Aside of ransom payments and drugs, you don't need to buy cryptocurrency, ordinary fiat money works just fine as a medium of transfer.

This is a very privileged, first-world perspective on things. You probably have a checking account, and a debit card. If you only have cash, and want to send money to (for example) family in another country, it gets very expensive, very fast.

Exchanging cash for cryptocurrency without a bank inbetween is a pain in the ass, but its a hell of a lot cheaper than, for example, Western Union.

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

#492

Post by rawtxapp »

Entwickler wrote: post #449
plebianRube wrote: post #408

Earlier quoted context omitted.

Proof of work keeps the network fair. Non mining nodes have the final say. Proof of stake lets players with the most money have the most say.

From https://vitalik.ca/general/2020/09/11/coordination.html "A large mining pool publicly showing how they have internally distributed their nodes and network dependencies doesn't do much to calm community members scared of mining centralization. And pictures like these, showing 90% of Bitcoin hashpower at the time being capable of showing up to the same conference panel, do quite a bit to scare people". If you foll…

In addition to miners, running actual Bitcoin nodes keeps the network safe, that's why it's very important for it to be very cheap to run so that many people/volunteers can do it.

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

#493

Post by pkulak »

cryptonector wrote: post #406
pkulak wrote: post #234

Earlier quoted context omitted.

And denying covid kept workers in his factory, against the law. I think there needs to be some rule in discussion that as soon as you start arguing over if someone is dumb or evil, you have to stop. It's impossible to figure out which (or what mix) it actually is.

Wait, did you not just do that above, calling Musk not that bright?

As far as I know, when I made my first comment we weren’t yet debating dumb vs evil.

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

#494

Post by hellbannedguy »

arez wrote: post #312
onion2k wrote: post #229

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.

He's a con artist, that's all

No--there was no movment on electrical vechicles before his interest. That alone should be enough to put his image on a coin.

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

#495

Post by rawtxapp »

user-the-name wrote: post #438
plebianRube wrote: post #408

Earlier quoted context omitted.

Proof of work keeps the network fair. Non mining nodes have the final say. Proof of stake lets players with the most money have the most say.

Proof of work also boils the planet. It needs to be banned, yesterday.

Just put a carbon tax on everything with environmental side effects and let the market sort it out, otherwise who decides what get's banned?

For example, I think cars contribute very significantly to global warming and use lots of fossil fuels, do I get to say, let's ban all cars and force everyone to use public transport? No!

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

#496

Post by pkulak »

tenpies wrote: post #399
soperj wrote: post #361

Earlier quoted context omitted.

If they are so easy, why isn't everyone doing it? Why can't Bezo put payloads into space with a billion every year invested? Why can't every other car manufacture seem to put together an electric car with the same range? I don't want to buy a Tesla, I'd rather something with physical knobs, but there's nothing that quite hits the mark yet.

> Why can't Bezo put payloads into space with a billion every year invested? Because he was busy changing the face of consumer retail, the internet, and other huge aspects of society up to a few months ago. Give it a couple of years and you'll see Blue Origin eat SpaceX's cake. > Why can't every other car manufacture seem to put together an electric car with the same range? Mostly because other car manufacturers are…

And other companies aren’t willing to sacrifice what Tesla is for range. It’s not like an egg is the best shape for an SUV and other companies just haven’t figured it out yet.

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

#497

Post by ses1984 »

izolate wrote: post #487
Barrin92 wrote: post #420

Earlier quoted context omitted.

>Proof of stake lets players with the most money have the most say. Okay, and what do you think the mining equipment is acquired with exactly?

It's the non-mining nodes that verify transactions and have the final say, and those can be run on home devices by regular people. That's the difference.

Non mining nodes do diddly squat.

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

#498

Post by King-Aaron »

reader_mode wrote: post #448
King-Aaron wrote: post #446

Earlier quoted context omitted.

> Chrysler TEVa The what? > the Ford Ranger EV The what? > honda ev plus The what? > Toyota RAV4 EV The what? If you mention Tesla to literally anyone, they know about the cars. The product, and the marketing of it, have definitely brought EV's into the mainstream. Before that, very few consumers knew anything about EVs, maybe with the exception of the GM EV1. Now electric cars are a common sight on the road.

Back in the Tesla Roadster days it was basically something fans of supercars and a few geeks knew about. Nisan Leaf was way more recognisable than a Tesla for a while. And also things like Prius really prooved the point that electricity can be used to power cars. Not knocking on Tesla, they have a great brand and helped spark interest and speed up demand for EVs. But saying they advanced the adoption of EVs by 10 yea…

Honestly while I agree, I do think that Tesla did advance the adoption, purely by forcing it into the market so boldly with the model S. Other manufacturers were receiving government bailouts and messing around with smaller displacement city cars around 2010-2011, and brands like Karma started popping up along side Tesla and made a bit of disruptive noise to the big players.

I honestly don't think we'd have seen the same level of EV adoption by now if not for Tesla. But then I don't really know how to quantify it for arguments sake.

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

#499

Post by reportingsjr »

the__alchemist wrote: post #480
Lramseyer wrote: post #393

I'm surprised that nobody's mentioned it here, but this crypto boom has sent demand for mining hardware through the roof, which has contributed in no small part to the chip shortage. Miners are buying up ASICs, GPUs and FPGAs at a premium. In the short term, crashing the crypto market can ease demand for semiconductors, but in the long term, getting cryptos to move to Proof of Steak will hopefully ease it up for good…

Do you think this relates to low-power MCUs like ARM Cortex-M? These are getting hit hard as well.

No, high performance gpus/fpgas/asics are made at bleeding edge fabs, whereas stm32 and the like are made at slightly older fabs.

Currently for the highest end cortex-m micros you're looking at 28 or 32nm ICs (10 year old nodes) up to 180nm for the older, cheaper micros (20 year old nodes).

There has been a you shortage for a quite while in large part due to crypto. The microcontroller shortage only started happening after car companies shot themselves in the foot and decided to screw everyone else over.

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

#500

Post by wffurr »

fastball wrote: post #270
wffurr wrote: post #266

Earlier quoted context omitted.

"The law" gives public health officials authority to issue those "edicts". Try taking them to court and see how far that gets you. Hint: not very.

Well, given how nobody was prosecuted, taking it to court seems unnecessary, which was my point.

If that was your point, you did a poor job of making it.
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