Tesla will no longer accept Bitcoin over climate concerns, says Musk

Opinion of Muskrat has pretty much done a full 180 in the last year or so.

Seems like hes desperate to be a celebrity and its coming off as pretty cringe.

Just go and quietly enjoy your billions of dollars while smashing out new tech companies.
 
I own crypto

I also think its bad for the environment. You can't deny it. It's is very bad for the environment. And my main concern for its future
 
Kermit said:
Thats partly true I know but its all based on real money even if the fractional rules invariably allow banks to loan x10 or x20 what they have available

with crypto its more or less ∞ given there is no tangilble asset
Click to expand...

I don't know about you, but I haven't touched any real money for well over a year now, it's all digital

Answer me this, if everybody decided to withdraw their "real money" all at once, what would happen ?
 
Minusorange said:
I don't know about you, but I haven't touched any real money for well over a year now, it's all digital

Answer me this, if everybody decided to withdraw their "real money" all at once, what would happen ?
Click to expand...

That's called a run on the banks. They collapse.

As we saw in Greece, the banks will stop people getting to their own money if they predict it might happen. Then the government might skim some off the top to pay for their debts. But they can't do that with crypto as no organisation controls it, it exists on the wild internet. So it's safer in a lot of ways and definitely more global.
 
It's one of two things IMO. Either Elon is just playing games and running a pump and dump scheme with bitcoin to turn a quick profit. I mean it's not like he wouldn't have known about the energy and environmental impact of cryptocurrency before backing it previous.

Or, conspiracy theory time, someone high in the US government and/or FBI had a word with him about accepting a currency other than the us dollar and he suddenly had a change of heart!
 
Einskis Nokkur said:
What is the actual physical guarantee to a crupptocurrency?
Click to expand...

Same as fiat currencies like the pound and dollar. None.

Einskis Nokkur said:
I do not really care about energy wastage but I do think that cryptocurrencies are stupid, unregulated and dangerous.
Click to expand...

They're dangerous because the very government entities that cause massive social and economic harm can't regulate them?

The fact that you can't effectively regulate cryptocurrencies like Monero represent their strength from the libertarian perspective. Freeing people from the oppressive state apparatus by allowing them to subvert laws like drug prohibition.
 
Energize said:
Same as fiat currencies like the pound and dollar. None.



They're dangerous because the very government entities that cause massive social and economic harm can't regulate them?

The fact that you can't effectively regulate cryptocurrencies like Monero represent their strength from the libertarian perspective. Freeing people from the oppressive state apparatus by allowing them to subvert laws like drug prohibition.
Click to expand...

Elon has demonstrated in a single tweet what the major problem is with crypto.

A single tweet wiped 20% off the value.

That would / could never happen with a fiat currency.

It's a speculative currency and nothing more.
 
mr musk is a very smart man .. slash the price of bitcoin .. then buy up whats left .. he know it will go up again .. :)
 
'A new hype' or 'conduct a piece of PR work' is all that must exist on the Musk wheel of fortune. He knew that cryptocurrency has a big environmental impact before this. So does destroying ecosystems around the world for the mining of lithium. And launching rockets into space. Etc. Etc.

He's just a weirder version of beardy Branson.
 
flea.rider said:
mr musk is a very smart man .. slash the price of bitcoin .. then buy up whats left .. he know it will go up again .. :)
Click to expand...

Bitcoin has no intrinsic value at all. It is only good as long as people believe it is good. It could be wiped out in a day. Only an idiot invests in something so volatile. It's not to say there aren't rich idiots, but it is a large risk and the longer you stay in the game the more likely you are to lose everything.
 
Maccy said:
Sorry to break it to you, but I think the general consensus is that crypto currencies are here to stay for quite a while.
Click to expand...

I wouldn't bank on it. People and governments are starting to realise how wasteful they are. I think eventually there will be change. It will probably be change to protect the value of the currencies, but I think mining days have a very limited future.
 
pp111 said:
All unrealistic things. But wiping out Cryptocurrencies is not unrealistic at all.
Click to expand...
he's just another rich person who wants to force change whilst not changing his lifestyle.

even if you discount his businesses he will use thousands of average peoples worth of co2 a year.

co2 is a tiny percent of our atmosphere and the majority comes from nature anyway... it's a big scam
 
Maccy said:
Sorry to break it to you, but I think the general consensus is that crypto currencies are here to stay for quite a while.
Click to expand...
But hopefully not in their current form, which has undeniable downsides for a lot of people and the environment.
 
You must log in or register to reply here.
Back
Top Bottom