Tesla Buying Bitcoin

[Darts]

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

 

[spincity]

A nice dent in the supply chain

 

[jalimon]

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!

 

[Darts]

CRA accept this and has guidelines how to file for taxes.
Your banks allow you to deposit and buy crypto.
You can sell crypto, deposit funds into your bank account and file your taxes.

One of our subsidiaries earn 100% of it revenue in U.S. dollars and almost its entire expense base is also in U.S. dollars. We lobbied the CRA forever to allow this sub to file its Canadian tax return in U.S. dollars. Finally, they changed the tax law about 12 years ago to allow U.S. dollar tax returns.

Are you saying it is now permissible to file and pay taxes in bitcoins?

 

[Darts]

So, what do we do with the "old" money? Turn it in for bitcoins?

When Israel converted from the Pound to the Shekel, people were walking into banks with tons of Pounds retrieved from under their mattresses to convert to Shekels.

 

[fall]

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!

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.

 

[Darts]

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.

Is there an historical example comparable to bitcoin?

 

[jalimon]

Is there an historical example comparable to bitcoin?

Globally the only real economical measure is a big mac.

But then again you can't exchange them.

 

[Darts]

Globally the only real economical measure is a big mac.

But then again you can't exchange them.

Back in the old days, people would use diamonds.

"Many of the diamond traders were Jewish and could have bribed their way out of the country with their stocks and possibly escaped the Holocaust."
https://www.businessinsider.com/the...nazis-from-getting-amsterdams-diamonds-2016-2

BTW: Why do I get the feeling that Musk is now selling his bitcoins?

 

[Neironwik]

I think they know something or are going to do something great using this cryptocurrency. They are going to make it possible to make transactions using BitCOin on PayPal, buying a Tesla, so I think they are doing this on purpose. I like that nowadays it becomes to use cryptocurrencies as payment methods. For example the Digital Yuan. China is the first country that created its own cryptocurrency and is going to transform it into a national currency and make it the main payment method in the country. I don't understand why the USA isn't doing the same thing.
__________________

Official Company Website 2022 | Yuan Pay Group™

Yuan Pay Group ™ - You can now trade official Chinese cryptocurrency with government support. ✅ Reliable digital yuan

yuanpaygroup.com

 

[glamphotographer]

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!

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.

 

[Darts]

Was this a scam by Musk? First, he drives up the price (pump) and now dump?

 

[fall]

Was this a scam by Musk? First, he drives up the price (pump) and now dump?

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.

 

[Valcazar]

I don't understand why the USA isn't doing the same thing.

What benefit would it bring?

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.

A system that relies on trust and faith in the system isn't a Ponzi scheme. A Ponzi scheme is pretty specific.

Was this a scam by Musk? First, he drives up the price (pump) and now dump?

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.

 

[Butler1000]

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.

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.

 

[|2 /-\ | /|/]

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.

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

 

[fall]

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

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.

 

[|2 /-\ | /|/]

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.

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.

 

[fall]

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.

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

 

[|2 /-\ | /|/]

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

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.

Regardless of what we think I personally had a huge success with crypto and mining since February of this year.

I took 3x profit in my investment directly back into my bank and still have 6x to invest in crypto and turn these into another 10x within the next 5 years. It’s only profits now and none of it is my direct money. Also there is a huge sell off now meaning there is yet another chance to make huge gains very quickly.

Therefore it doesn’t matter what you think since you seem to be stuck in a paradigm lock of thoughts and how you think it should be which is preventing you from capitalizing on the potential from crypto because you think and know that you will lose. Maybe that’s wise for you then for to stay out of it and just be stuck in a train of illusory thoughts how you think crypto investing works.

All I care is that my limited investment strategy through crypto was successful and now I have enough to pay off some of my debts because I took a risk and my strategy works.

I don’t care to debate or speculate. I care about concrete evidence and returns. You are clearly interested in an ego trip and trying to prove your point by putting people down when it’s only your deficiencies you are projecting especially missed opportunities and potential.

there is no point to waste energy trying to shove your ideology down people throats while missing out on actually making a killing in crypto. I thought for a second there was a chance to have a constructive dialogue outside your paradigm bubble but realize this is a mistake and an clearly wasting energy and time on you.

I am done with you like 80% of the terb discussions I gave up on. Just complete waste of time preventing energy to be used for actual direct experience and worthwhile constructive dialogue and potential.