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I agree with you on major points. Tesla proponents' ignorance of competition (both technical and general / market share) is difficult to comprehend. Re: Bitcoin

by ablekh 6y ago

I agree with you on major points. Tesla proponents' ignorance of competition (both technical and general / market share) is difficult to comprehend. Re: Bitcoin - I disagree, it is a totally different story, but it's off-topic / outside of the scope here.

random314 6y ago
Tesla did buy 1.5B$ bitcoins, so ..
- ablekh 6y ago
  You're right, see my comment above.
smnrchrds 6y ago
I believe the comment refers to the fact that Tesla bought a lot of bitcoins. So for their current valuation to make sense, either they have to succeed in monopolizing the auto market, or their bitcoins have to go up a lot in value.
- ablekh 6y ago
  You're right. I somehow misinterpreted that part of the comment. Having said that, I doubt that Tesla's Bitcoin investment could be a foundation for its current valuation (as of today, > $660B). The $500K BTC price implies ~10x growth, so the value of that $1.5B investment would equal to ~$15B, which is still far less than the target number.
  - ericd 6y ago
    BTC is within 10x of $500k, so you’re right, it doesn’t make sense.
    - ablekh 6y ago
      Thank you. Fixed my math.
- ericd 6y ago
  It doesn’t make sense, though, their 1.5B investment would go up to maybe $15-20B.