Bitcoin, governments, manufacturing, consumers et al, all need time to move to renewable energy sources.
you aren't allowing time for governments and manufacturing to change over time? Conversely you are accepting that BTC needs time to convert to 100% renewable?
Indeed, but only bitcoin is being singled out for special treatment facing the Spanish Inquisition with a similar level of enlightenment as existed back then.Bitcoin, governments, manufacturing, consumers et al, all need time to move to renewable energy sources.
Indeed it can. One innovative startup has put together custom-built containers complete with mining kit adapted for adverse conditions that can be dropped into remote oil fields. They're ready to go to exploit flared gas that otherwise is not put to productive use (it cant be as we're talking about locations that lack inhabitants). The containers can be further redeployed as needed.Bitcoin can generally move much quicker too, since it's not location dependent. All you need is power and a sufficient internet connection. A cooler climate helps too.
Elon has confirmed that a Tesla can now be bought with bitcoin. He's also stated that the company will retain any funds received in BTC and won't convert them back to fiat money.The bit about adoption as a medium of exchange is of course a nonsense. They [Tesla] will accept bitcoin as payment which they say they may "immediately liquidate".
The climbdown is more telling than the original. The original is simply a common sense statement from the bean counters. If your operating currency is US$ or whatever then any revenues will in the normal course be converted into US$ irrespective of whether they originated as £, Y, €, BTC. That is normal practice. That Elon feels compelled to claim a different approach in respect to BTC emphasises that he was sensitive that the original statement somewhat detracted from his pump strategy.
The climbdown is more telling than the original. The original is simply a common sense statement from the bean counters. If your operating currency is US$ or whatever then any revenues will in the normal course be converted into US$ irrespective of whether they originated as £, Y, €, BTC. That is normal practice. That Elon feels compelled to claim a different approach in respect to BTC emphasises that he was sensitive that the original statement somewhat detracted from his pump strategy.
Anyway the commitment is meaningless. I presume Elon has a sense of how much BTC he wants to pump and when he wants to dump. This minor detail regarding the immediate treatment of BTC sales of Testa is immaterial to that strategy.
I think you are over interpreting Professor Roubini. I think he would acknowledge that 2 pizzas were bought for 10,000 btc and that there currently is an active cult in buying lattes with btc. This does not in any material way detract from his assertion that it is not a medium of exchange.I do admire your resilience, albeit it is oft misplaced.
A long-standing tenet of the Roubini school of thought is that you cannot buy anything with bitcoin. Along comes a commercial trader who openly accepts bitcoin in exchange for goods his company produces, and that is now 'meaningless'!
The volatility of the US$ to BTC would suggest otherwise.
Please let us not believe that the announcement that he would accept payment in btc was merely updating his shareholders on operational matters
I was referring to the earlier formal announcement. We can see that the announcement got far more attention than a run of the mill "we now accept American Express". If you think that the purchase of btc in the weeks before this announcement was pure coincidence you are even more nigh eve than your eponymous forebear. That is the pump. Why give this latest clarification to a minor operational matter if not to keep the pump primed.The official and formal update to shareholders on operational matters re buying and acceptance of bitcoin was transmitted to the SEC back in early February. This is just an normal commercial announcement, that any other of millions of commercial entities undertake over the world everyday. Like "we now accept American Express", or "You can now buy our merchandise on-line".
It is perfectly normal practice, but only in Roubini school of thought would a dark and sinister theory of wanting to make available additional purchase options to prospective customers amount to a 'pump and dump scheme'.
Think about it, in order to purchase a $50,000 Telsa with bitcoin, I either have to buy $50,000 worth of btcoin or use my existing bitcoin (valued at $50,000).
Where is the pump? Where is the dump?
If you think that the purchase of btc in the weeks before this announcement was pure coincidence
Strange sense of humour Wolfie.The announcement to SEC and stockmarkets is a regulatory requirement if I am not mistaken?
To then deduce from complying with regulatory requirements is all part of some scurrilous pump and dump scheme is laughable.
Strange sense of humour Wolfie. If you think an investment in btc just prior to a highly reported operational endorsement of btc was coincidence nothing much more that I can say.
How so?Well that absolutely confirms his utter lunacy anyway.
The pre-imminent fiat currency in the world includes the words 'In God We Trust' on its notes yet anyone who is even mildly encouraged by this monetary tech is part of a 'cult'.there currently is an active cult in buying lattes with btc.
Real world examples of its use as a medium of exchange suggest that over the longer haul, he's going to be proven wrong. Roubini (or your good self) can disregard the power of a network effect that's growing year on year all you want - but its a mistake to do so.This does not in any material way detract from his assertion that it is not a medium of exchange.
Boring you? Firstly, if it 'bores' you then, you don't have to pay him or his statements any attention. Secondly, I'm quite sure he's being asked repeatedly when such payments will be accepted.Why is Musk boring us with the minituae of Tesla's forex day to day transactions?
LOL - of course it is, DukeyDuke of Marmalade said:It is part of his pump propaganda which has already been good for a paper gain of about $500M since he made his announcement.
What on earth are you talking about!? Do you even know what censorship resistance is - as that statement of yours suggests you don't.Duke of Marmalade said:I wonder how many Tesla insiders benefitted from the totally to be anticipated boost in btc following rocketman's announcement. We will never know, as dealings in btc are censor resistant.
YOU said at the time that this was a potential 'game-changer'!We can see that the announcement got far more attention than a run of the mill "we now accept American Express".
If you think that the purchase of btc in the weeks before this announcement was pure coincidence you are even more nigh eve than your eponymous forebear. That is the pump. Why give this latest clarification to a minor operational matter if not to keep the pump primed.
Rocketman will decide when to dump.
See above.If you think an investment in btc just prior to a highly reported operational endorsement of btc, which together pumped btc to the tune of about $20, was coincidence then there is nothing much more that I can say.
You deliberately misinterpreted Tesla's original statement on the matter. They stated that they 'may' convert btc received to usd - but you pointed to that with the suggestion that they would - not that they 'may'. It's on the back of that that I've brought Musk's clarification (that they won't convert back to usd) to your attention. Other than that, is it significant? - of course it is. Hiroo Onoda wouldn't hold a candle to you, your dukeness!Wasn't @tecate on to it like a flash.
FUD - fear, uncertainty and doubt. There is NO evidence to back up these claims. Tether/Bitfinex were investigated over 2 years and the NY AG came up with diddly squat. There's a thread on it here.Was considering firing a few quid into it, but this article gave me pause. It's a bit long and breathless, but think the point stands. Possible shenanigans afoot somewhere?
The Bit Short: Inside Cryptoâs Doomsday Machine
This is the story of a Bitcoin tradeâââthe most financially impactful trade Iâve ever made in my life. Itâs also the story of theâ¦crypto-anonymous-2021.medium.com
Now, now, Wolfie - we don't talk about that sort of thing here!Actually, shouldn't a pump of $1.9trn into the US economy be on the pump-and-dump radar more so? Where did they get it from? From the Tether playbook?
Actually that one does puzzle me. Why on earth does Muskie bother with anything? I guess his enormous ego needs constant pampering. I further guess that is why he has embraced btc - as you say hardly because he is short a few bob. All one can say is that the evidence is that the combined announcement of taking a position and accepting btc for his cars has turned out to be a huge pump. The motivations for that pump are, as I say, puzzling.- because what else would he be doing with his already accumulated enormous wealth -
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