3 ms·

There is such a negative emotional reaction to both BTC and TSLA. Sometime over the last 10 years or so we've found ourselves really moving forward from the old

There is such a negative emotional reaction to both BTC and TSLA. Sometime over the last 10 years or so we've found ourselves really moving forward from the old guard of the 20th century and we have real new beginnings. It's not that "this time it's different" it's "the times are different". Embrace it, buy a small amount of bitcoin, buy a small amount of tesla, be part of something big, if it pops it will not hurt you, if it continues to grow and evolve you will be part of it.

lrossi 6y ago
Actually a lot of people like the tech behind cryptocurrencies. The blockchain has a lot in common with the inner workings of git, for example. What I don’t like is all the scams they have been used for.
- encoderer 6y ago
  Then you must really hate the US Dollar!
  - lrossi 6y ago
    Nobody lost their fortune just by keeping dollars in an account. Most people who invested in altcoins have.
    - encoderer 6y ago
      Altcoins are just penny stocks. Nothing new under the sun. Same scammers, same scams.
    - driverdan 6y ago
      Tons of people have lost their fortune by keeping it in an "account." Banks have gone under, investments collapse or are scams (eg Bernie Madoff), etc.
krrrh 6y ago
It’s not even negativity just incredulity. TSLA has a larger market cap than all other car companies combined. I’m tickled to see a new entrant in automotive succeed, but the frothiness around it is based less on fundamentals or realistic growth prospects and more on something approaching religious fervour. The sentiment about turning over the old guard has a very strong “new economy” 1999 feeling to it. All the above applies to Bitcoin as well, which has largely failed at all the practical uses that were proposed to justify its early rise.
- encoderer 6y ago
  I'm old enough to remember 1999 too. I think there was a lot of economic fear in our industry then. Outsourcing was big and people predicted most software would be written in Asia. The dot-com stocks crashed. People called tech a bubble. And if you were, like me, starting your career back then with Enron in the backdrop, it's easy to get pretty cynical. It's left many people, for nearly a decade now, expecting the next crash. But it takes optimism to make money I think. I think tesla is frothy. I've sold some and bought other things with the gains. But I'm going to hold because I'm going to make a bet that the better tech and team wins.
- worik 6y ago
  Bitcoin is useless for "practical uses that were proposed to justify its early rise" Unless it is a small group using it (less than a million) there is no way it is ever going to do transactions fast enough.
antr 6y ago
On Tesla, like any other publicly traded business, cashflow is the value driver. Fundamentals end up catching up with valuations.
morpheuskafka 6y ago
The main reason I don't like TSLA is not that I think electric cars will go bust, but that the company does not have good leadership. The CEO just does not seem to have any common sense, openly taunting regulators on Twitter, racking up defamation lawsuits and SEC penalties, etc. There's a lot of startup era hype and showmanship projects that don't come out as promised. As for crypto, I definitely see a future for it and plan to invest soon, but I will wait to see if it dips back down a little bit before buying at such a large high.
- deleted 6y ago
  [deleted]

lrossi 6y ago

Actually a lot of people like the tech behind cryptocurrencies. The blockchain has a lot in common with the inner workings of git, for example. What I don’t like is all the scams they have been used for.

encoderer 6y ago
Then you must really hate the US Dollar!
- lrossi 6y ago
  Nobody lost their fortune just by keeping dollars in an account. Most people who invested in altcoins have.
  - encoderer 6y ago
    Altcoins are just penny stocks. Nothing new under the sun. Same scammers, same scams.
  - driverdan 6y ago
    Tons of people have lost their fortune by keeping it in an "account." Banks have gone under, investments collapse or are scams (eg Bernie Madoff), etc.

krrrh 6y ago

It’s not even negativity just incredulity. TSLA has a larger market cap than all other car companies combined. I’m tickled to see a new entrant in automotive succeed, but the frothiness around it is based less on fundamentals or realistic growth prospects and more on something approaching religious fervour. The sentiment about turning over the old guard has a very strong “new economy” 1999 feeling to it. All the above applies to Bitcoin as well, which has largely failed at all the practical uses that were proposed to justify its early rise.

encoderer 6y ago
I'm old enough to remember 1999 too. I think there was a lot of economic fear in our industry then. Outsourcing was big and people predicted most software would be written in Asia. The dot-com stocks crashed. People called tech a bubble. And if you were, like me, starting your career back then with Enron in the backdrop, it's easy to get pretty cynical. It's left many people, for nearly a decade now, expecting the next crash. But it takes optimism to make money I think. I think tesla is frothy. I've sold some and bought other things with the gains. But I'm going to hold because I'm going to make a bet that the better tech and team wins.
worik 6y ago
Bitcoin is useless for "practical uses that were proposed to justify its early rise" Unless it is a small group using it (less than a million) there is no way it is ever going to do transactions fast enough.

antr 6y ago

On Tesla, like any other publicly traded business, cashflow is the value driver. Fundamentals end up catching up with valuations.

morpheuskafka 6y ago

The main reason I don't like TSLA is not that I think electric cars will go bust, but that the company does not have good leadership. The CEO just does not seem to have any common sense, openly taunting regulators on Twitter, racking up defamation lawsuits and SEC penalties, etc. There's a lot of startup era hype and showmanship projects that don't come out as promised. As for crypto, I definitely see a future for it and plan to invest soon, but I will wait to see if it dips back down a little bit before buying at such a large high.

deleted 6y ago
[deleted]