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I think of it like this. If you suddenly owned 100% of Bitcoin, then you wouldn’t actually have anything valuable - nobody would buy it off you. If you suddenly
by cillian64 5y ago
I think of it like this. If you suddenly owned 100% of Bitcoin, then you wouldn’t actually have anything valuable - nobody would buy it off you. If you suddenly owned 100% of Tesla then you’d be able to extract a lot of value.
- benreesman 5y agoI’ll start the bidding at 1 USD to own all BTC. Anyone want to go higher?
- foxhill 5y agohmm. it might be a bit more subtle than that - if you were to own all 21 million bitcoin (i.e, nothing can be mined or otherwise created), it’d pose an existential crisis for the currency. miners would have no reason to mine, transactions on the small scale couldn’t happen, etc. at the very least i expect other coins would pop up with a different genesis block. or maybe some form of hard fork (again, i might add). owning them all might be problematic. 99% might not be. that said, i don’t think it can be done for >100 years yet..
- dheera 5y agosure, 2 USD, bring it on
- coderintherye 5y agoSorry, but that's provably false, just look at all the Bitcoin knockoffs that forked off the main chain and the amount of money people put into them. If someone managed to somehow own 100% of Bitcoin, it would make it worth much less, but it would not make it without value.
- Tenoke 5y agoIf I suddenly own 100% of Tesla the stock would crash. I'll extract some value but it would be a pittance.
- jcranmer 5y agoYou seem to ignore the fact that you would then have access to 100% of the revenue that Tesla makes by selling cars and other things. (This in turn sort of guarantees a price floor for stocks in public companies: the price of a stock shouldn't really go below the net asset value of the company.)
- Tenoke 5y agoI really doubt Tesla would survive very long in that state. Stock will crash, public opinion will sour, employees will quit etc. very quickly.
- dheera 5y agoWhy would public opinion matter if your company wasn't public? IMO it's a beautiful thing if your company can be aligned 100% with customers and not some random idiots that want participation in your company issues without even owning a Tesla let alone an EV. No earnings reports, no SEC wasting your time. Only reason companies (unfortunately) need to go public is the need for upfront capital or early-stage capital that wants an exit.