Tesla buying bitcoin.
Tesla buys $1.5 billion in bitcoin, plans to accept it as payment
Elon Musk has been promoting cryptocurrencies on his Twitter account in recent weeks, sending prices soaring.
www.cnbc.com
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Your banks allow you to deposit and buy crypto.
You can sell crypto, deposit funds into your bank account and file your taxes.
It is a ponzi scheme, like GME stock except the stock market is regulated by SEC and cryptocurrencies are not. Until the prices in stores will be fixed in bitcoin and fluctuate in & and not the other way around, bitcoin will remain the ponzi scheme, black market currency, and money storage device in counties with unstable currency, banking system and high crime rate that prevent storing paper USD at home.Nobody's worried that every 6 months there a big scam?
Someone will have to explain cryptocurrency to me one day so I understand that it is not the biggest scam of the history. For me it's still a big ponzi.
p.s. nice way for Tesla to make sure criminals can buy their car!
Is there an historical example comparable to bitcoin?It is a ponzi scheme, like GME stock except the stock market is regulated by SEC and cryptocurrencies are not. Until the prices in stores will be fixed in bitcoin and fluctuate in & and not the other way around, bitcoin will remain the ponzi scheme, black market currency, and money storage device in counties with unstable currency, banking system and high crime rate that prevent storing paper USD at home.
Globally the only real economical measure is a big mac.Is there an historical example comparable to bitcoin?
Back in the old days, people would use diamonds.Globally the only real economical measure is a big mac.
But then again you can't exchange them.
The fiat currency we have now is a Ponzi scheme too. Both systems rely on people's faith in the system. I have a small fraction of a bitcoin but I would invest in gold instead.Nobody's worried that every 6 months there a big scam?
Someone will have to explain cryptocurrency to me one day so I understand that it is not the biggest scam of the history. For me it's still a big ponzi.
p.s. nice way for Tesla to make sure criminals can buy their car!
Not a scam, but perfectly legal way to make lots of money. You wanted unregulated market - you got it. When he tried to do the same with the stock market- he got burned.Was this a scam by Musk? First, he drives up the price (pump) and now dump?
What benefit would it bring?I don't understand why the USA isn't doing the same thing.
A system that relies on trust and faith in the system isn't a Ponzi scheme. A Ponzi scheme is pretty specific.The fiat currency we have now is a Ponzi scheme too. Both systems rely on people's faith in the system. I have a small fraction of a bitcoin but I would invest in gold instead.
You should always assume Musk is running a scam, or at least gaming the system.Was this a scam by Musk? First, he drives up the price (pump) and now dump?
He sold 10% of the holdings at a high for profit. Probably did some personal too. The rumour now is in a few months he will reveal a "green" mining rig to justify the holdings he has, and any more he bought in the dip. And it rises again.What benefit would it bring?
A system that relies on trust and faith in the system isn't a Ponzi scheme. A Ponzi scheme is pretty specific.
You should always assume Musk is running a scam, or at least gaming the system.
But I don't know how you would dump Bitcoin quickly and why would a small dip help him?
It isn't like he got out before tanking the entire Bitcoin value or something.
Yup possible for green mining solutions. I expect something to be released soon. Although I wouldn’t be surprised if he allows Tesla’s to mine. They can even function as nodes. Some people have figured out how to do it already through their Tesla. If he wants to make it greener only enable it for the ones charged through solar. Many potential solutions here based on the technology he is involved with. There are other talks that start link satellites would be used to mine Dogecoin off solar when they are not 100% in CPU use.He sold 10% of the holdings at a high for profit. Probably did some personal too. The rumour now is in a few months he will reveal a "green" mining rig to justify the holdings he has, and any more he bought in the dip. And it rises again.
You can trade 24/7 on several platforms. I could dump mine in minutes at a profit right now if I wanted to.
What is going on is there are lots of people without proper finance and economics knowledge who think that they are experts and can outsmart everyone and earn money speculating on an exchange; so, now smart people who know the finance figured out a platform (crypto) that is not regulated and where it is easy to take money from fools.Yup possible for green mining solutions. I expect something to be released soon. Although I wouldn’t be surprised if he allows Tesla’s to mine. They can even function as nodes. Some people have figured out how to do it already through their Tesla. If he wants to make it greener only enable it for the ones charged through solar. Many potential solutions here based on the technology he is involved with. There are other talks that start link satellites would be used to mine Dogecoin off solar when they are not 100% in CPU use.
It’s funny how many people are not seeing the writing on the wall, what’s actually going on, and where this is heading. I know and understand that it’s easier to burry their heads in sand like an ostriches because it’s outside their comfort zone and outside the confines of their limited education based on archaic business practices. However when one tweet can burn hundreds of millions of dollars in a few minutes you got to be asking what is going on here lol
Agreed. High risk high reward and many noobs have lost a lot of money thinking this is easy money easy gains.What is going on is there are lots of people without proper finance and economics knowledge who think that they are experts and can outsmart everyone and earn money speculating on an exchange; so, now smart people who know the finance figured out a platform (crypto) that is not regulated and where it is easy to take money from fools.
Almost everything in teh above statement is wrong:Agreed. High risk high reward and many noobs have lost a lot of money thinking this is easy money easy gains.
However if you have a little bit of brains and control you can still make a killing and way easier then stocks. Such as we have access 24/7 to trading with market stop losses and limit orders. With stocks we don’t have good access to automate buys and sells especially after market and especially for noobs.
There is still potential for 10x gains. The 100x gains is becoming more rare and rare, maybe greater possibility within long term such as 10 years.
Crypto still follows trend lines and technical analysis, and it’s easy to predict the overall market movement based some key indicators such as bitcoin, news, and social media because majority of traders use these as baseline guidelines . You notice majority of people try to follow these patterns and many times you can guess correctly with safety nets.
Also yeah the unregulated aspect can be a double edge sword or a double dip opportunity.
I am fine with it being wrong under your perception. Reality tells me that my strategy worked because now I have these funds sitting in my bank account for spending regardless of what you imagine and say it should be. It just doesn’t equate to reality and direct experience.Almost everything in teh above statement is wrong:
1) "high risk - high reward" statement is wrong. It is high risk, but, because you win only because someone else loses - on average, it is zero return. High risk - high return applies only to situations when the average return is high, e.g. a firm with very volatile but high average profit (not capital gain on the secondary stock market!!!)
2) "if you have a little bit of brain". To be exact, you must have have "much more brains and ability to analyse the data and influence other people's behaviour" than a average speculator (and by "average" I mean weighted average bases on holdings and assets a person able to put into it, not just an average guy). I am not sure, but my guess that such "average" guy has lots of resources and can influence others easily (e.g., Musk). Now, ask yourself this question: are you actually such a guy or you just believe you are? IMHO, anyone who has a little brains knows that his brains, resources, and influence level are well below the average.
3) "There is still potential for 10x gain". Here I will agree with you, There is still potential for 10x gain as well as huge losses with average (and the latter is more probable)
4) "Crypro follows trend lines and technical analysis" : as with everything else, this statement only correct for past data and applying it to make prediction is not wise
5) Unregulated = skewed double-edge sward with individual small investors getting a shorted end which is masked by huge volatility