3 ms·

> So what changed? Well I think the biggest notable difference between then and now is then bitcoin seemed to be going only up. Now it seems to be going down.

> So what changed? Well I think the biggest notable difference between then and now is then bitcoin seemed to be going only up. Now it seems to be going down. TSLA appears to follow the same curve as BTC ... but either way it doesn't make sense, because if you accept BTC payments, you can instantly transfer them to cash if you don't trust BTC.

cableshaft 5y ago
Well, guarantee after today, pretty much whoever held both bitcoin (and/or possibly other crypto) and Tesla stock, will be selling all of the Tesla stock, at minimum. He made a bunch of enemies today, intentional or not.
- Black101 5y ago
  I've sold my TSLA weeks ago but I am keeping my crypto ;)
  - cableshaft 5y ago
    I never had TSLA because it never made sense to me why it was so high, but if I did I would definitely have sold it today. Was actually somewhat considering the new Model 3 for my next car, but now I'll look into other EVs instead. Still buying crypto.
- belltaco 5y ago
  This seems so petty, he caused bitcoin and other crypto to go 5x. Maybe some very recent buyers are affected but the vast majority made out like bandits, and can lock in their profits by selling btc off now.
  - cableshaft 5y ago
    Bitcoin didn't go 5x just because of him. It was already on an upward trajectory, breaking new all-time-highs, and around 30k, if I remember correctly, when he made the announcement that Tesla bought bitcoin and is accepting it. It did jump up 6% the day he announced Tesla was accepting bitcoin, but he effectively undid all of that (and more, it went down around 12%) yesterday, as well as add more seeming legitimacy to the 'bitcoin is bad for the environment' line that the media has been pushing hard since it started shooting up again (they didn't give a shit when its price was low, even though not much has changed for energy use between then and now). Some people aren't just looking to make a quick buck, they want to see crypto become a more stable asset class, not just another pump and dump scheme (plenty of shitty alt-coins for pump and dump schemes). This one tweet put a lot more uncertainty into that (it shouldn't have, but it did), especially if it triggers a wave of 'well bitcoin is bad for the environment, so we better get out' from other entities. Also how would he not know bitcoin's energy usage before the first announcement? If he had done any due diligence at all he would have known this, so either they didn't do any research or it's a bullshit scapegoat to cover up the real reason they're backing out. In the long run I think Bitcoin will survive this, but in the short term it could prematurely kill (or at least significantly stunt) this current bull run and we could already be back on track for the next multi-year bear market, which I've been through twice now with bitcoin, and it sucks (good for accumulating bitcoin on the cheap though).

cableshaft 5y ago

Well, guarantee after today, pretty much whoever held both bitcoin (and/or possibly other crypto) and Tesla stock, will be selling all of the Tesla stock, at minimum. He made a bunch of enemies today, intentional or not.

Black101 5y ago
I've sold my TSLA weeks ago but I am keeping my crypto ;)
- cableshaft 5y ago
  I never had TSLA because it never made sense to me why it was so high, but if I did I would definitely have sold it today. Was actually somewhat considering the new Model 3 for my next car, but now I'll look into other EVs instead. Still buying crypto.
belltaco 5y ago
This seems so petty, he caused bitcoin and other crypto to go 5x. Maybe some very recent buyers are affected but the vast majority made out like bandits, and can lock in their profits by selling btc off now.
- cableshaft 5y ago
  Bitcoin didn't go 5x just because of him. It was already on an upward trajectory, breaking new all-time-highs, and around 30k, if I remember correctly, when he made the announcement that Tesla bought bitcoin and is accepting it. It did jump up 6% the day he announced Tesla was accepting bitcoin, but he effectively undid all of that (and more, it went down around 12%) yesterday, as well as add more seeming legitimacy to the 'bitcoin is bad for the environment' line that the media has been pushing hard since it started shooting up again (they didn't give a shit when its price was low, even though not much has changed for energy use between then and now). Some people aren't just looking to make a quick buck, they want to see crypto become a more stable asset class, not just another pump and dump scheme (plenty of shitty alt-coins for pump and dump schemes). This one tweet put a lot more uncertainty into that (it shouldn't have, but it did), especially if it triggers a wave of 'well bitcoin is bad for the environment, so we better get out' from other entities. Also how would he not know bitcoin's energy usage before the first announcement? If he had done any due diligence at all he would have known this, so either they didn't do any research or it's a bullshit scapegoat to cover up the real reason they're backing out. In the long run I think Bitcoin will survive this, but in the short term it could prematurely kill (or at least significantly stunt) this current bull run and we could already be back on track for the next multi-year bear market, which I've been through twice now with bitcoin, and it sucks (good for accumulating bitcoin on the cheap though).