Tesla bought $1.5 Billion USD in BTC today!

Archaea

[H]F Junkie
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Oct 19, 2004
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10,879
How much do you think this single acquisition will affect the price and confidence in BTC going forward. I’m wondering if this is the likely beginning of a big outpouring of institutional and investor money destined to leapfrog the BTC price pretty much from this point forward.
 

DPI

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Apr 20, 2013
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Bought in January, announced yesterday. The world fundamentally changed in that one action, certainly the financial world and how the world will transact going forward. Most people will require the benefit of hindsight after time passing to understand why.

It's not even about BTC price. If anything, this should settle it down longterm which would be healthy. It's more about crypto having a hard floor now, where the old trope about "BTC is dumb cuz it could drop to zero tomorrow" is now an impossibility.
 
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Luke M

Limp Gawd
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Apr 20, 2016
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Is bitcoin used for anything besides paying ransom? It's been like 10 years since we were supposed to be buying coffee with bitcoin and...nothing. It's a "success" because it's a gambling plaything? Really?
 
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oblox

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Nov 27, 2013
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Is bitcoin used for anything besides paying ransom? It's been like 10 years since we were supposed to be buying coffee with bitcoin and...nothing. It's a "success" because it's a gambling plaything? Really?
Sure, people have purchased cars and homes with BTC but the reality is it's painful to use as a currency ATM. Not only are fees high for small, everyday purchases, but most tax jursidiction treat it as realizing captial gains/losses so having the added headache of keeping track of basis further forces people to hodl. Likely blockchains with sub-1 minute block times will be used as daily currencies (assuming lightning never takes off) and even then, it would like require some de minims exemption from regulators to forgo tracking cap gains.
 

N4CR

Supreme [H]ardness
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Oct 17, 2011
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4,735
Btc is basically the latest gold paper scam. It's more a storage mechanism now.
 
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