Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable

[Chunky Jr.]

My biggest beef with BTC is the environmental impact. Although based on watching Gold Rush for a few years, it seems like the environmental impact of BTC mining is lower than mining gold. Besides the damage they do to the land (which can be reclaimed over decades), they use tons of diesel fuel to power the equipment.

I agree with some others here that this was part financial decision, and part marketing decision. Not sure which one weighed heavier.

 

[scaesare]

Short Bloomberg article on the subject: Bloomberg - Are you a robot?

Adds that they think Tesla plans to accept BTC as payment.

Very astute on their part given Tesla disclosed that.

 

[scaesare]

I think it should be clarified, Tesla doesn't know how YOU drive, they only how a specific car is driven. There could be multiple drivers sharing the vehicle. Or if you were the only driver of two different Tesla's, you might drive them very differently.

 

[Todd Burch]

Gary black bailed out of TSLA.

https://mobile.twitter.com/garyblack00/status/1358795340862873602

Good. IMO his Tweets always swayed in the wind. He was accurate some of the time, but no more accurate than my gut feeling.

Edit: Wow, I almost duplicated what StarFoxIsDown! wrote, before I even read his comment.

 

[MXWing]

I am super angry about tesla gambling in bitcoin. Sure, this put me into the minority. But what the hell, this is against everything I put my faith into tesla.

1. bitcoin is a super polluter, climate change, remember that, tsla?

2. bitcoin's main usage is money laundry and pure speculation. It has no value as a monetary system due to volatility and no tax based support system. The 'value' comes from fixed supply but this is a nono for a monetary system. I always think Elon is a decent and caring guy. But did he think about if bitcoin bubble gone, how many small investors would be in pain?

3. tsla raised large sums of money for capacity expansion. It is a shame it uses investor's money into playing a bubble. And accepting bitcoin as payment? They think their accountants have nothing better to do?

I am deeply shocked and shamed. I just sold my shares.
Remember one thing: bitcoin as a thing has no value, or negative value to the human society. Sure, blockchain is revolutionary. But bitcoin's cumbersome design will make it obsolete once all the rosy views out of the picture.
Hope one day Elon fix this problem. I still believe in the climate change mission.

Too bad I can only vote disagree once. If I could queue up 365 of them I would drop about 300 on you right now.

You have so much to learn. Crypto, energy, new methods of verifying transactions are all on deck.

I went from estimating a 5% chance of Tesla having its own blockchain tech using tesla cars as proof of stake validator nodes now to 25%.

Evolve or go extinct.

 

[Unpilot]

Good. IMO his Tweets always swayed in the wind. He was accurate some of the time, but no more accurate than my gut feeling.

Edit: Wow, I almost duplicated what StarFoxIsDown! wrote, before I even read his comment.

I agree...and why do people feel the need to announce they sell?

When I sell I will not tell a soul.
I will be just poof...gone..

To Mars most likely.

 

[reardencode]

You are literally not allowed to take this stance on TMC. All energy can be stored quite easily. Using tons and tons of energy for an endeavor that can easily be replaced with something more efficient is stupid. AFAIK, you can still maintain all the most important attributed of a cryptocurrency without wasting all this energy.

You literally don't understand energy transmission costs.

 

[Paracelsus]

On the heels of this morning’s news I have to wonder what the theoretical untapped Bitcoin mining capacity is for a worldwide fleet of parked Tesla vehicles connected to a Tesla GF through Starlink?

Each vehicle has at its disposal a processor that is orders of magnitude more powerful than anything else produced for similar purposes.

And most of those vehicles are parked at any given time

And.....many of those vehicles will be connected to rooftop solar and Powerwalls, making the energy to crunch data carbon neutral.

And.......many of the remaining vehicles are already powered by Tesla Superchargers

And....Tesla already connects its fleet via internet, but can soon do so through its own Starlink network.

And.....the capacity to mine data from one vehicle might seem very tiny, but Tesla already has about 1 Million vehicles connected, and that number is growing at a feverish pace.

And...... rooftop space on any existing or future GF is more than adequate for sufficient Solar plus Battery Storage to power the main hub of such a computational network- with the further benefit of Tesla being entirely vertically integrated in that process as well

And......now that Tesla is openly investing in Bitcoin and will soon accept payments in Bitcoin, the use of its entire vehicle fleet to mine Bitcoin in this environmentally friendly way would further accelerate Tesla’s value exponentially

Tesla - Largest auto manufacturer in the World
Tesla - Largest energy company in the World
Tesla - Largest Cryptocurrency producer in the World

One further benefit - Institutional Short positions will need to close their positions on TSLA when their banks are borrowing money from Tesla/Elon

I love @HG Wells idea of a TSLA dividend payed in Bitcoin. Perhaps TSLA could also pay vehicle owners fractional shares of Bitcoin based on how many coins their vehicles mined each year. That would help keep vehicles off the street when they are not needed!

- perhaps someone here could ask Elon if this is in the works on Twitter?

 

[reardencode]

Bitcoin Energy Consumption Index - Digiconomist

For people wondering about btc energy usage. Is that per transaction energy usage correct? Kind of crazy if it's true.

There is no per transaction energy cost. Bitcoin security through mining secures all past transactions and maintains the existence of the network. It would be the same whether any transactions were done or not.

 

[Chunky Jr.]

One thing for certain is that Gali will be releasing a Hyperchange video today with the intensity level set to 11+

 

[Rarity]

I'm reminded of Facebook's recent disastrous entry into cryptocurrencies. Compared to that, this entry seems not bad so far.

I'm not so interested in BTC. Perhaps Tesla will make its own cryptocurrency that it uses to reward customers for use of their electricity access.

 

[phantasms]

One thing for certain is that Gali will be releasing a Hyperchange video today with the intensity level set to 11+

And once again, I'll give it 7 seconds before I realize I...I....just can't.

 

[Artful Dodger]

Yes, this is all plausible, but @heltok says the FSD computer is unsuitable. Perhaps v2 will have useful extensions?

In any event, I question more the possibility that electricity available to consumers will be very cheap, including transportation costs.

So... future Tesla's will have Regen Banking?!

Cheers!

 

[Queeg500]

If you don't understand Bitcoin, don't worry, neither does anybody else.
If you do understand bitcoin, shhhh.

TLDR - this is not a good place to discuss Bitcoin.

 

[lascavarian]

There is no per transaction energy cost. Bitcoin security through mining secures all past transactions and maintains the existence of the network. It would be the same whether any transactions were done or not.

One day "soon" all possible bitcoins will be mined and mining stops. Then the transaction cost becomes the energy cost of maintaining a distributed and ever larger blockchain calculation required for tracking every bitcoin transaction where each transaction is a larger calculation as I understand it. If you cut corners then the whole point of bitcoin is naught IMO.

 

[Johnny Ma]

I was putting off learning about crypto, but now I can't procrastinate any longer. I was under the assumption that BTC was extremely wasteful in its power consumption. When I try to get to the bottom of this, I see arguments that claim this is false and a misunderstanding, but they're all written by BTC bulls. However, the arguments I'm seeing that make claims of enormous energy usage seem to also try to slip negative associations with China (claims of most of the mining activity being in Xinjiang). And then people here are saying BTC uses more energy than entire countries. Seems like that would overload Xinjiang's relatively underdeveloped grid.

I'm so confused. Why couldn't Elon have put this out on a Friday after hours? I'm not going to get anything done today.

 

[elasalle]

Gary black bailed out of TSLA.

https://mobile.twitter.com/garyblack00/status/1358795340862873602

So much like a "trading with emotion - scenario".

 

[jeewee3000]

On the heels of this morning’s news I have to wonder what the theoretical untapped Bitcoin mining capacity is for a worldwide fleet of parked Tesla vehicles connected to a Tesla GF through Starlink?

Each vehicle has at its disposal a processor that is orders of magnitude more powerful than anything else produced for similar purposes.

And most of those vehicles are parked at any given time

And.....many of those vehicles will be connected to rooftop solar and Powerwalls, making the energy to crunch data carbon neutral.

And.......many of the remaining vehicles are already powered by Tesla Superchargers

And....Tesla already connects its fleet via internet, but can soon do so through its own Starlink network.

And.....the capacity to mine data from one vehicle might seem very tiny, but Tesla already has about 1 Million vehicles connected, and that number is growing at a feverish pace.

And...... rooftop space on any existing or future GF is more than adequate for sufficient Solar plus Battery Storage to power the main hub of such a computational network- with the further benefit of Tesla being entirely vertically integrated in that process as well

And......now that Tesla is openly investing in Bitcoin and will soon accept payments in Bitcoin, the use of its entire vehicle fleet to mine Bitcoin in this environmentally friendly way would further accelerate Tesla’s value exponentially

Tesla - Largest auto manufacturer in the World
Tesla - Largest energy company in the World
Tesla - Largest Cryptocurrency producer in the World

One further benefit - Institutional Short positions will need to close their positions on TSLA when their banks are borrowing money from Tesla/Elon

I love @HG Wells idea of a TSLA dividend payed in Bitcoin. Perhaps TSLA could also pay vehicle owners fractional shares of Bitcoin based on how many coins their vehicles mined each year. That would help keep vehicles off the street when they are not needed!

- perhaps someone here could ask Elon if this is in the works on Twitter?

I'm not against the Bitcoin enthusiasm on here today, but I wouldn't allow the company I bought my vehicle from to use MY vehicle and electricity produced by MY solar panels to thicken Tesla's balance sheet.

If on the other hand, I would receive free credit in my TSLA app store/account, that would be different.

 

[dl003]

I agree...and why do people feel the need to announce they sell?

When I sell I will not tell a soul.
I will be just poof...gone..

To Mars most likely.

Gary said a couple weeks ago that if TSLA put BTC on its balance sheet, he'll exit. I think he's just making a point. Not that I agree with it. He'll probably regret it later.

 

[Chunky Jr.]

Personally, I don't have a problem with discussing bitcoin here because it helps me understand this move better so therefore I consider it on topic. It seems stupid to me to do this as I see BTC as being nothing more than a digital beanie baby, but I've been wrong before.