Thanks Elon you screwed us

boneycat

Weaksauce
Joined
Feb 5, 2013
Messages
127
Seriously, wouldn't this be a great time for another player to enter the GPU market?
 

LukeTbk

[H]ard|Gawd
Joined
Sep 10, 2020
Messages
1,612
Seriously, wouldn't this be a great time for another player to enter the GPU market?

I imagine it is an extremely hard market to enter, if they have their own supply chain not dependant of those being bottleneck right now and not bottleneck already for what they are currently making, I imagine it would not need to be particularly good to be a smash success, but I am not sure if it is much possible.
 

DPI

[H]F Junkie
Joined
Apr 20, 2013
Messages
12,059
Tesla announced in an SEC filing Monday that it has bought $1.5 billion worth of bitcoin.

2020 will never end.
It's not about 2020 or even 2021. The world fundamentally changed with that announcement.

Because Tesla holding 1.5B+ in BTC didn't just mean the crypto jeanie is never going back into the bottle, it means the bottle was broken - broom-waving boomers be damned.
 

Ebernanut

[H]ard|Gawd
Joined
Dec 15, 2010
Messages
1,557
I'm not worried, this is just another one of his impulsive head scratchers and if anything the bump just pushes things that must closer to the next bubble burst. I'd be paying more attention to Yellen's recent comments about crypto if I was thinking of putting money into it.

As far as Musk goes I think he's one Spruce Goose type project away from holing up in a Vegas penthouse.
 

spine

2[H]4U
Joined
Feb 4, 2003
Messages
2,670
Seems to me he's still bitter about Tesla being such a favour for short sellers, so he invested the company's wealth in the most unshortable stock there is: Bitcoin. ;)
 

KickAssCop

Supreme [H]ardness
Joined
Mar 19, 2003
Messages
6,926
Now that I have Tesla stock. I think he can do whatever he wants to boost Tesla stock.

On BTC. Should’ve gone back in at 15K in November when my gut was telling me to buy.
 

cageymaru

Fully [H]
Joined
Apr 10, 2003
Messages
20,731
From this tweet.


1612889582581.png


1612889600399.png


1612889616388.png


All your laptops belong to us!

:)
 

LukeTbk

[H]ard|Gawd
Joined
Sep 10, 2020
Messages
1,612
Seems to me he's still bitter about Tesla being such a favour for short sellers, so he invested the company's wealth in the most unshortable stock there is: Bitcoin. ;)
You can short bitcoins many ways:
https://www.investopedia.com/news/s...One of the easiest ways,order to make a trade.
https://www.investopedia.com/articles/investing/033115/it-possible-trade-bitcoin-options.asp

And you can always do it manually if you think it will go down soon, selling now with the plan of rebuying letter.
 
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x509

2[H]4U
Joined
Sep 20, 2009
Messages
2,630
You can short bitcoins many ways:
https://www.investopedia.com/news/short-bitcoin/#:~:text=One of the easiest ways,order to make a trade.
https://www.investopedia.com/articles/investing/033115/it-possible-trade-bitcoin-options.asp

And you can always do it manually if you think it will go down soon, selling now with the plan of rebuying letter.
Or you can avoid this entire hot mess, and sleep easier knowing that you're not risking pissing money down the drain.
 

SilverSliver

[H]F Junkie
Joined
Feb 23, 2004
Messages
11,780
Seems to me he's still bitter about Tesla being such a favour for short sellers, so he invested the company's wealth in the most unshortable stock there is: Bitcoin. ;)

Buy puts on a BTC mining company like MARA or RIOT.
 

Jinto

[H]ard|Gawd
Joined
Aug 10, 2006
Messages
1,798
Super thankful that I managed to get a 5600XT on sale late last year. Was supposed to be temporary but looks like it is going to be permanent as I've lost hope on getting a better card for a reasonable price.

On the other hand I've been mining on all my PCs. Comes out to $10 a day, pays for a cup of coffee or two...
 
Joined
Apr 20, 2017
Messages
668
Super thankful that I managed to get a 5600XT on sale late last year. Was supposed to be temporary but looks like it is going to be permanent as I've lost hope on getting a better card for a reasonable price.

On the other hand I've been mining on all my PCs. Comes out to $10 a day, pays for a cup of coffee or two...
Damn, that's some expensive coffee.
 

yowen

Gawd
Joined
May 20, 2011
Messages
657
I imagine it is an extremely hard market to enter, if they have their own supply chain not dependant of those being bottleneck right now and not bottleneck already for what they are currently making, I imagine it would not need to be particularly good to be a smash success, but I am not sure if it is much possible.
Sounds like a job for Elon, if he could somehow rig it so it's awful for mining, but great for gaming, that'd swell.
 

Mystique

Limp Gawd
Joined
Mar 28, 2009
Messages
344
I don't even get the value in bitcoins. Seems like they're just used for shady stuff.
There is no inherent value in a Bitcoin. If we had a USD Coin, that would have an inherent value, as it would be equivicol to fiat; backed by a central bank.

Bitcoin could go to 0$ tomorrow. Won't. But could. And that's ultimately what it's worth, if you take out speculation. BTC Is perfectly traceable and not really the vehicle for illegal stuff. Monero is that.
 

LukeTbk

[H]ard|Gawd
Joined
Sep 10, 2020
Messages
1,612
I don't even get the value in bitcoins. Seems like they're just used for shady stuff.
It seem closer to what gold was (before it had a lot of industrial usage in the modern world for it giving it floor value outside speculation) than what money is.

Lot of the value for a lot of the world currency come from the legal tender status giving and enforced by very powerful state (i.e. someone that own debt is forced to accept it has a form of payment from the debt holder and has everyone has debt they want to pay, starting by taxes, everyone is inherently interested in buying money), has long bitcoins do not get any form of legal tender (Dollar, euro, etc...) nor any practical application (gold) it will be really hard to get it's value, at least to me, seem 100% speculative.
 

Mystique

Limp Gawd
Joined
Mar 28, 2009
Messages
344
For a company that's publicly traded, and has a mountain of debt, both sold in bonds and otherwise, it seems highly irresponsible to take that money and put it in a slot machine, which is what Musk is doing. It may pay off; but also it may not. Either way, investing in TSLA = investing in BTC, and thus I am not ever going to buy that stock again. If I wanted to speculate, I'd just buy BTC, and let TSLA be 800% overvalued, carrying its 1m$ to 1 car current valuation; bought up by Musk fans. Admittedly, there are many, and I even like Musk, so in the end, I may be in the wrong, but I have investing rules for myself and this is a red line.

Can buy dogecoin through kraken, yeah. I'd recommend learning about what a "pump and dump" is before you do that though. Dogecoin has a dog on it. That's the DD for buying that; remember you worked hard for your $$$...At least Ethereum isn't a crappy currency.
 

Sir Beregond

Limp Gawd
Joined
Oct 12, 2020
Messages
328
For a company that's publicly traded, and has a mountain of debt, both sold in bonds and otherwise, it seems highly irresponsible to take that money and put it in a slot machine, which is what Musk is doing. It may pay off; but also it may not. Either way, investing in TSLA = investing in BTC, and thus I am not ever going to buy that stock again. If I wanted to speculate, I'd just buy BTC, and let TSLA be 800% overvalued, carrying its 1m$ to 1 car current valuation; bought up by Musk fans. Admittedly, there are many, and I even like Musk, so in the end, I may be in the wrong, but I have investing rules for myself and this is a red line.

I just don't understand why he'd invest that much into in now vs say earlier last year. Seems an odd time to be putting that much in.

"Hmm Bitcoin is at an all time high, think I'll buy now."

I guess assuming it will reach much higher prices, but just seems rather irresponsible to me as well.
 

Mystique

Limp Gawd
Joined
Mar 28, 2009
Messages
344
Yep, that's why if you're not already in it, it's likely not a good time to get in, it basically looks like a huge bubble. If it corrects severely, maybe it's worth another look for some investors. (Still not investing in BTC through a public company though, personally)

Kinda crazy that some investors would rather pile money into TSLA, rather than household name airlines, cruise liners, boeing, or really any other struggling stocks that are actually worth far more than their current traded value, and are 'recovery' plays in a time we're going to be recovering a bit from the virus. I suspect most of it has to do with how Musk essentially has his own cult following that thinks he's god. I mean Steve Jobs had that too....

Need I also say that the "self-driving" car has never been self driving and is still on level 2 self driving (barely lane assist, essentially), in which level 5 is total autonomy, and Volkwagen has level 3 in some prototypes if you follow the rumor mill. Tesla's biggest advantage is the battery, but it hasn't improved it in too long, so soon it will face a lot of competition there. I do respect Musk, but he is no god; but he does have the biggest hype wagon I've ever seen.
 
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bigbluefe

Gawd
Joined
Aug 23, 2014
Messages
972
I have a real problem with expending enormous amounts of energy--especially at a time when we're supposedly facing a global energy crisis--on a virtual currency that has no intrinsic value. At its core, this thing is rotten. And this isn't paper vs. gold thing. It's not like large chunks of the world's computing power are being thrown at producing paper money. Everyone knows this is just another Rube Goldberg pyramid scheme.

Useful work is supposed to create value--not just rape computers to do pointless busywork.
 

Sergius648

n00b
Joined
Apr 3, 2020
Messages
31
Yep, US dollar has never been used by criminals for shady and nefarious stuff ever, nope.

All I know is - whenever I hear about a scammer getting someone for thousands nowadays - they seem to force the victim to send them money in bitcoins. To be fair its been a few years since I've actually personally heard of a scammer succeeding in such a way so maybe situation has changed.
 

blade52x

2[H]4U
Joined
Sep 9, 2006
Messages
3,120
It blows my mind that people still have the same shallow arguments against Bitcoin that they had in 2013, as if nothing has changed since then. I guess that's what happens when you don't take the time to understand something new - you miss out.
 

blade52x

2[H]4U
Joined
Sep 9, 2006
Messages
3,120
Kinda crazy that some investors would rather pile money into TSLA, rather than household name airlines, cruise liners, boeing, or really any other struggling stocks that are actually worth far more than their current traded value, and are 'recovery' plays in a time we're going to be recovering a bit from the virus. I suspect most of it has to do with how Musk essentially has his own cult following that thinks he's god. I mean Steve Jobs had that too....

Because there's little to no growth in airlines, cruise liners, and even Boeing because of its primary focus.

FWIW I do think you're safer investing in something like JETS over TSLA for the next year, but beyond that I'm not so sure. The recovery play has a 50% upside and then what? It's certainly not going to continue on to follow the trend of AMZN. Honestly, I almost see the recovery being a giant trap. SPY is about to go into euphoria if it's not already there, and what better time to lure everyone in then "during recovery" because as we know, the stock market != the economy.
 

Mystique

Limp Gawd
Joined
Mar 28, 2009
Messages
344
Don't disagree, but it also will send TSLA down with it, and Crypto, if SPY/NQ tanks. So, diamond hands somewhere? :p
 
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