Elon Musk's Tesla buys $1.5bn of Bitcoin causing currency to spike
08/02/2021 | news | business | 1,681
The cryptocurrency surges 17% as Tesla also said it could start accepting Bitcoin as payment.
1
08/02/2021 15:13:32 19 21
bbc
Good luck now the sheep follow as it goes up Tesler sells it off.
Bitcoin is no differ to game stop as a means of value.
2
08/02/2021 15:14:36 68 29
bbc
This is going to end in tears for a lot of small currency speculators.
85
08/02/2021 15:28:45 53 21
bbc
Been in since 3 digits, not crying yet.....
185
08/02/2021 15:52:41 14 5
bbc
It's also going to create a lot of millionaires.
390
08/02/2021 16:40:52 4 11
bbc
Ok boomer
467
MJD
08/02/2021 17:00:59 10 2
bbc
On average it's up 200% every year for a decade. What's the average savings account interest rate these days? There is plenty of data to look at now. Intuitional investment provides legitimacy and it isn't going away anytime soon.
781
08/02/2021 18:35:26 0 4
bbc
Really ? - HFSP !
09/02/2021 03:50:46 0 1
bbc
I am not crying
3
08/02/2021 15:14:59 129 63
bbc
pyramid scheme
15
08/02/2021 15:18:35 127 19
bbc
Yes I believe bitcoin is big in Egypt
223
08/02/2021 15:59:03 5 3
bbc
Along side the UK housing market
375
08/02/2021 16:38:26 4 10
bbc
Ok boomer
528
08/02/2021 17:23:21 6 1
bbc
If speculating on bitcoin as much of scam as speculating on the dollar or the euro or the pound?

Its the same I'd say.

Casino betting on the value of currency is endemic across the world.
609
08/02/2021 17:48:56 4 8
bbc
have fun staying poor
789
08/02/2021 18:38:00 2 4
bbc
Ponsy scheme, who ever started it is reeling it in issuing new bitcoin bonds
08/02/2021 20:21:18 0 0
bbc
Like the dollar
08/02/2021 20:47:25 1 0
bbc
No more than buying/selling any other currency. Once Nagayoto (sic) buys some gold with his billions then it will become a very safe currency.
09/02/2021 09:29:40 0 0
bbc
You know better than the richest man in the world lol HFSP
4
08/02/2021 15:15:08 4 5
bbc
OK for some eh'
92
08/02/2021 15:32:21 2 4
bbc
Really wondering what it was that led people to vote your comment down.

"Oh no! Someone shared a thought in the comments section of a news story! I can't stand that!" *vote down*
5
08/02/2021 15:15:17 11 21
bbc
BBC can try to deride Bitcoin as much as they want but it's been around 10+ years and isn't going anywhere - except up!
14
08/02/2021 15:18:19 6 3
bbc
Why blame BBC? The BoE and many others have expressed concern, BBC is just reporting facts. Bitcoin will no doubt succeed regardless of what BBC thinks.
Until quantum computing is good enough to crack it

One day worth something, the next nothing
27
08/02/2021 15:19:47 2 4
bbc
Except when it goes down genius
139
08/02/2021 15:41:06 2 2
bbc
Up if people believe it will go up, or down if they believe it will go down. On that basis what if your investment strategy for making money on bitcoin - presumably 'hope'
6
08/02/2021 15:15:30 178 36
bbc
More market manipulation by Musk talking up assets he is long in. SEC really should look into him harder rather than just ignore it as "it's Tesla". I thought they were screening his tweets? He'll ride the wave and take the profit.
93
08/02/2021 15:32:28 89 18
bbc
Bitcoin ISN’T regulated.
112
08/02/2021 15:35:01 10 9
bbc
The SEC, like several times before, will write his lawyers a sternly worded post-it note and shake his hand while he laughs in their face. There have been no serious repercussions for him doing it in the past, because his cult of "personality" and mountains of money let him get away with it. He has funded some pioneering companies but is an awful person.
121
08/02/2021 15:36:49 5 5
bbc
Especially with his stunt with gamestop. Just inflates the price because he knows his cult will follow him blindly.
274
08/02/2021 16:10:15 3 1
bbc
It's all FIAT currency ...
291
08/02/2021 16:15:22 4 1
bbc
The news source for this is literally from a filing Tesla made to the SEC saying that they were going to do this, "Brightspark".
608
08/02/2021 17:48:40 0 3
bbc
have fun staying poor
08/02/2021 23:57:09 0 0
bbc
Why the SEC, maybe the UK gov should look into him, or maybe the government of the moon - point is it's unregulated, you know the risks, nothing to do with the SEC.
7
08/02/2021 15:16:11 6 6
bbc
With interest rates bordering on negativity......Bitcoin not a bad idea.

I would suggest only buying it if you are prepared to do all your dough though
23
08/02/2021 15:17:35 4 3
bbc
Lose all your dough, I think you meant!
8
08/02/2021 15:16:23 5 31
bbc
Bitcoin will soon be our main currency, RIP £
32
08/02/2021 15:19:10 3 5
bbc
You are wrong my love.
9
08/02/2021 15:16:35 7 8
bbc
I bet the guy who paid for pizza with 10000 bitcoins is crying into his pepperoni about now.

On May 22, 2010, now known as Bitcoin Pizza Day, Laszlo Hanyecz agreed to pay 10,000 Bitcoins for two delivered pizzas.
31
08/02/2021 15:20:32 2 2
bbc
Imagine if he's still got them and tried to sell them on
69
08/02/2021 15:27:27 0 2
bbc
yep & half the people commenting here who are clearly not i & so annoyed!
805
08/02/2021 18:50:30 0 1
bbc
That holds for anybody who sold early shares of IBM, Microsoft, Apple etc.
What I always wonder about is what the pizza vendor did with the bitcoins.
10
08/02/2021 15:17:21 5 6
bbc
Something is only worth what others will pay for it. I'd pay nothing for a bitcoin for that reason - if it looks like a duck, waddles like a dick and quacks like a duck....
24
08/02/2021 15:18:45 3 6
bbc
A duck would be far more useful than Bitcoin.
152
08/02/2021 15:44:45 2 1
bbc
I`ve never seen a bitcoin, I didn`t know they looked like ducks, interesting
Removed
11
08/02/2021 15:17:28 339 53
bbc
Expect a huge sale of Bitcoin from Tesla once all the lavish sheep buy in
63
08/02/2021 15:26:39 135 35
bbc
Er yes, thats what everyone does on any trading market.
187
08/02/2021 15:49:30 2 2
bbc
Uni Coin :-)
192
08/02/2021 15:53:39 3 2
bbc
Slavish...
257
08/02/2021 16:07:04 18 14
bbc
It will move to 400,000 in the next few years. Doom mongers keep knocking it, but it keeps going up. Digital currency is the future. No need for banks acting as ledgers.
333
08/02/2021 16:26:25 10 26
bbc
LOL you never owned BTC! It's not an investment, it's a way of buying drugs and stuff on the web.

EXPECT A LOT OF RICH DEALERS and lots of hippies buying more weed than they could dream of!
405
08/02/2021 16:44:42 7 6
bbc
I think you are missing the bigger picture.
Cryptocurrency is in it's infancy and in 20 years will be widely accepted as the currency of the internet. Sterling, Euros and Dollars will always be the backbone of currency but a faster means of payment is required in the digital age. The internet is evolving.
577
01
08/02/2021 17:38:49 1 1
bbc
Of coursem rich buy will make over $500m while the sheeple lose.
859
08/02/2021 19:22:59 0 1
bbc
If you think Tesla are selling any time soon you are highly uniformed. They will HODL for decades. Sure there's some FOMO driving up the price but in all likelihood we are going to catch up to the market cap of gold this decade.
JKF
08/02/2021 20:54:48 1 0
bbc
Nonsense. It could be a hedge against the Dollar and very low rates. Assuming they want to pump and dump for a few hundred million they don't need is ridiculous. Better the 1.5 is sat in the books at 1.5+ of BTC rather than just sitting there as 1.5 until its needed.
Waz
09/02/2021 01:06:03 0 0
bbc
Based on what research?
Removed
09/02/2021 05:27:52 0 0
bbc
The price of bit coin wont fall if people buy in. It will go up thus making money for all those who bought in. Unfortunately it will fall like a stone if people panic and start selling, or even worse if a large holder of bit coin sells off, hoping to force the price down in order buy more for themselves. Either way I can't afford to buy one bit coin.
12
08/02/2021 15:17:39 10 10
bbc
Another way to avoid corporate taxes Mr Musk? Most Government Treasuries won't recognise Bitcoins so and transactions that way will effectively be tax free......................
78
08/02/2021 15:29:29 7 2
bbc
No this is completely wrong.

Any gains from trading Bitcoin are classed as capital gains in the us and subject to the same income tax laws as a salary if held for less than a year.

If a Tesla is sold for Bitcoin the value and profit would be recorded on a balance sheet the same as if it was purchased for cash.
13
08/02/2021 15:17:44 65 18
bbc
I feel like Elon Musk is trying to manipulate the market again like when he tried the same thing with tesla stocks about a year ago.
61
08/02/2021 15:26:07 34 18
bbc
yes - Bitcoin is sure to surge when he gets in! But this is his whole reasoning, he is anti establishment & wants Bitcoin to disrupt! This is one of only ways people can fight against the proven corrupt big institutions & not be confined to the worthless dollar!
630
08/02/2021 17:52:38 2 7
bbc
have fun staying poor
5
08/02/2021 15:15:17 11 21
bbc
BBC can try to deride Bitcoin as much as they want but it's been around 10+ years and isn't going anywhere - except up!
14
08/02/2021 15:18:19 6 3
bbc
Why blame BBC? The BoE and many others have expressed concern, BBC is just reporting facts. Bitcoin will no doubt succeed regardless of what BBC thinks.
46
08/02/2021 15:22:23 3 4
bbc
BBC might report facts, but it very carefully chooses which facts to report. A lie of omission is still a lie.
3
08/02/2021 15:14:59 129 63
bbc
pyramid scheme
15
08/02/2021 15:18:35 127 19
bbc
Yes I believe bitcoin is big in Egypt
114
08/02/2021 15:35:02 2 2
bbc
Well to be fair, they are still legal in Egypt..
16
08/02/2021 15:18:38 16 6
bbc
£1.1bn is small change for Tesla. Just a gamble, may pay off.

Helps promote the brand. May encourage some bitcoin investors to buy a Tesla.

Or it could be market manipulation - an easy assumption given the way a single punter has shifted the market.

Follow Elon Musk at your peril - you may just be getting drawn in to a simple scam.
17
08/02/2021 15:18:41 239 31
bbc
Clever move to pump up the price of Bitcoin.
No doubt they will off load once all the chancers have bought in
115
08/02/2021 15:35:29 190 26
bbc
Good old pump and dump, the practice should be illegal really
195
08/02/2021 15:54:23 33 19
bbc
You have no idea what bitcoin is do you? The vast majority on here continually hating on bitcoin in favour of a financial system that has screwed 99.9% of people over for years - this is THE new financial system right here - get on board or keep hating and stay poor - bitcoin, de-fi, blockchain tech is here and is taking over period.
228
08/02/2021 15:57:51 8 6
bbc
Lot of people on this HYS trying to talk the price up as well. Do you think they are worried?
365
08/02/2021 16:36:06 8 12
bbc
been bought in since $6k for bitcoin and $20 for ether. Only poor people with no bitcoin whinge
442
08/02/2021 16:55:28 0 4
bbc
how long before the UK gov buys in or have they already?
596
01
08/02/2021 17:43:28 3 2
bbc
Oh I do hope so, sheeple are so stupid. There's nothing I enjoy more than seeing a naive greedy fool lose his shirt.
801
08/02/2021 18:48:10 1 4
bbc
Wrong. BTC will moon a lot higher than a lot of you guys think.

Take it from someone who has been trading in this crypto game for years. I made good money from VIBE & TRX (tron) over the last couple of days. Crypto does not work like the traditional stock market, and "normies" need to realise that.

You can not regulate or seize Decentralised Finance (DeFi). DeFi is the future, not the BoE.
862
08/02/2021 19:24:38 2 1
bbc
The "chancers" have been buying in for the last 12 years. Those that are fearing being left behind are now buying in as every predication such as yours has been proven to be incorrect and shunned by those with the knowledge and money.
08/02/2021 22:12:15 1 0
bbc
wrong, he will offload while idiotes buying it, that way the price is stable and he only sells in reasonable quantities not to crash the price

same as everyone with common sense who bought some of that rubbish :-)
08/02/2021 22:33:35 0 1
bbc
You mean like the vast printing of Fiat currency
5
08/02/2021 15:15:17 11 21
bbc
BBC can try to deride Bitcoin as much as they want but it's been around 10+ years and isn't going anywhere - except up!
18
08/02/2021 15:18:48 3 4
bbc
Until quantum computing is good enough to crack it

One day worth something, the next nothing
347
08/02/2021 16:30:52 2 1
bbc
Same goes for all currencies and banks if quantum computing can be used to crack them
19
08/02/2021 15:18:53 9 7
bbc
I remember in 2008 people saying (with an apparent sense of certainty) that BitCoin would never amount to anything and be worthless/gone by 2010.

Even back that, saying something a lot didn't mean it was/would become true.
517
08/02/2021 17:20:38 0 3
bbc
And that ends todays lecture in Philosophy 101, thank you class.
Next time, 'Circular Reasoning for Beginners'.
20
08/02/2021 15:19:05 32 23
bbc
The Bitcoin network uses the same amount of energy as the Netherlands. For a company with so-called 'green' credentials, this is utter hypocrisy.
449
08/02/2021 16:56:57 9 8
bbc
Since when has bitcoin been a company??
796
08/02/2021 18:42:21 2 4
bbc
Bitcoin is not a Company. Ignorance is bliss I guess !
08/02/2021 20:58:18 0 0
bbc
Mining is nearly over. So the coins will just exist. Something had to kickstart it.
21
08/02/2021 15:19:23 3 5
bbc
As few currencies are based on a standard, such as the gold standard, and we are being told of the demise of cash, and as much payment is done electronically; it is hard to see where currencies such as the £ 'sterling' differ from crypto-currencies.
Obviously, established banks don't much like the competition...
22
08/02/2021 15:17:09 6 8
bbc
Ponzi scheme.
7
08/02/2021 15:16:11 6 6
bbc
With interest rates bordering on negativity......Bitcoin not a bad idea.

I would suggest only buying it if you are prepared to do all your dough though
23
08/02/2021 15:17:35 4 3
bbc
Lose all your dough, I think you meant!
40
08/02/2021 15:21:57 4 3
bbc
Made lots of money with bitcoin since investing 4 years ago while reading comments like yours on the way. It's fun to watch people miss the boat
44
08/02/2021 15:22:37 1 1
bbc
Same difference
81
08/02/2021 15:28:03 1 1
bbc
Haha yeah ! Good one !
10
08/02/2021 15:17:21 5 6
bbc
Something is only worth what others will pay for it. I'd pay nothing for a bitcoin for that reason - if it looks like a duck, waddles like a dick and quacks like a duck....
24
08/02/2021 15:18:45 3 6
bbc
A duck would be far more useful than Bitcoin.
25
08/02/2021 15:19:31 2 1
bbc
Read an article saying Elon was stepping away from Twitter... His lawyers probably told him “cool it” before the SEC starts calling again....
45
08/02/2021 15:22:42 0 2
bbc
He drove the price up, and then Tesla bought in. Other way round is questionable but he just got less bang for his buck.
26
08/02/2021 15:19:32 3 6
bbc
So soon you can legitimately buy a Tesla with your ill-gotten gains.
5
08/02/2021 15:15:17 11 21
bbc
BBC can try to deride Bitcoin as much as they want but it's been around 10+ years and isn't going anywhere - except up!
27
08/02/2021 15:19:47 2 4
bbc
Except when it goes down genius
28
Hex
08/02/2021 15:20:14 18 4
bbc
Thought Elon was meant to be clever? He could have bought it a year ago at half the price!
66
08/02/2021 15:27:07 19 1
bbc
He probably did !
09/02/2021 01:42:44 0 0
bbc
13th March 2020, 1 bitcoin =£3400
29
08/02/2021 15:20:18 483 72
bbc
Bitcoin investments are yet another example of how the world economy is becoming increasingly comprised of speculator behaviour, investing in markets and/or assets, over saving and physical production.

All these bubbles being created and inflated do not in any way symbolise a healthy sustainable economy.
70
08/02/2021 15:27:42 127 13
bbc
Need long term approaches and not short term ones that result in markets crashing
86
08/02/2021 15:30:17 7 4
bbc
Agreed. Although I think it's like so many areas of economy - there's a lot of trial and error activity around something fairly new (12 years is baby terms in money, crypto or otherwise) and ultimately out the chaos will come order.
128
08/02/2021 15:37:57 36 5
bbc
Have modern day financial markets really helped society and the world in generating and sharing wealth. If they aren't then they need to be reformed until they are of benefit to everyone and not the few
135
08/02/2021 15:39:10 21 41
bbc
Exactly. The only reason crypto exists is because people can make money off of suckers. Congratulations you have 1 bitcoin and the only thing you can do with it is sell it. Might as well make a currency out of pig poop.
158
08/02/2021 15:45:44 33 8
bbc
And yet they keep printing money and increasing inflation..crypto and stocks have made a lot of poor people less poor of late, something their governments have failed to do for them. This opportunity gives people more power and takes money out of the banks..and we all know what happened in 2007..
162
08/02/2021 15:47:17 27 3
bbc
All equity markets are built on fear and greed, with manipulation at the expense of independent investors who are suckered in with their hard earned cash. Establishment don't like bitcoin because they can't manage it to give themselves an advantage. Says a lot really.
171
08/02/2021 15:49:40 9 8
bbc
The most sensible and measured response I've seen on any BBC HYS in recent memory. Sadly, far too insightful for the greedy, myopic or politically biased.
184
Bob
08/02/2021 15:52:29 9 18
bbc
We've been here before, many times. Same product (hype, bubble, nonsense), different packaging (from tulips to GME to Bitcoin).
344
08/02/2021 16:29:59 11 4
bbc
Most people inc BoE don't know what crypto really is, sure I have bitcoin but Ethereum and DeFi is where the smart money is. We had the internet, internet v2 aka social media, Ethereum v2 is the new internet v3 coming soon in the 2020's. Unfortunately UK is run by dinosaurs who are clueless. Not that it matters, unless they can turn the internet off !
364
08/02/2021 16:36:05 3 10
bbc
Ok boomer
432
08/02/2021 16:52:27 6 1
bbc
Basing an entire economy around "endless continued growth" isn't sustainable either.
476
08/02/2021 17:04:52 1 6
bbc
Bubbles burst and the quicker the better.
496
08/02/2021 17:12:39 3 2
bbc
"All these bubbles being created and inflated do not in any way symbolise a healthy sustainable economy"

Exactly the point: it's not a healthy sustainable economy. Bitcoin is not a cause, but a very clear symptom.

And the thing about symptoms is: they need investigated.
584
08/02/2021 17:41:40 2 2
bbc
Saving? with an ISA offering 2% or a regular savings account offering 0.5 or 1%

The banking system is finished, more money printing is blowing an even bigger bubble than before.

How can stocks be at record high's when the economy is dead during the pandemic - it's a paradox!
597
08/02/2021 17:44:13 6 2
bbc
Yet again, bitcoin proving the haters and naysayers wrong!

Keep your gold, keep your cash (depreciating against inflation each day!) we''ll take bitcoin and see you in 5 years at $200K
665
08/02/2021 18:01:32 0 3
bbc
You speak the truth.
682
08/02/2021 18:06:43 2 2
bbc
Not a bubble if everyone thinks it’s a bubble.
709
08/02/2021 18:13:53 5 2
bbc
Bitcoin is a hedge against fiat. Tesla holding is a clear indicator that faith in the $ is dwindling, and rightly so. $ supply is not in anyway predictable and the economic impact of printing is coming.. Buying bitcoin is good risk management, burying your head in the sand is not.
767
08/02/2021 18:36:15 1 2
bbc
Bit like the bubble in the supply of Diamonds, artificially reduced supply creating excessive prices for the masses.
835
08/02/2021 19:06:34 0 0
bbc
This was going on, and even to a greater degree, in the Roman Empire. This is nothing new in either method or scope.
945
08/02/2021 19:42:41 2 0
bbc
an investment in bitcoin is an investment in saving. if you don't understand this then you don't understand. the speculative position is to stay in cash.
08/02/2021 20:18:27 0 0
bbc
Ooh look, a far right conspiracy theory is top of the page on an article about money. Well that's a shock...
08/02/2021 20:37:29 1 0
bbc
Capitalism is even worse, and yet some people think it's healthy and sustainable. Looks like a dystopian nightmare unfolding before our very eyes to me.
08/02/2021 20:39:46 1 1
bbc
This clearly posted by someone who does not understand the underlying fundamentals of blockchain technology or market economics. People have been saying similar things since BTC was 1000 dollars and will keep doing so once it clears 100k. Boomers will be boomers
08/02/2021 21:18:51 2 1
bbc
Don’t comment on what you do not understand
AP
08/02/2021 22:08:09 0 0
bbc
BWhit480 how is conventional saving a viable option anymore with interest rates so low (and talk of negative rates) along with unsustainable quantitative easing. Fiat money in bank losing real value every day. This forces speculative and risky investment strategies.
30
08/02/2021 15:20:23 77 27
bbc
Do we want to keep backing fiat currencies which are being watered down every day with non stop printing or back a currency that is free from government intervention, has a supply cap and could be used like gold as a store of wealth?

The central banks only have themselves to blame for what is happening. Years of manipulation can only be tolerated for so long before people see through the lies.
306
Bob
08/02/2021 16:19:29 22 59
bbc
Hmmm supply cap? Nah it doesn’t, contrary to an often repeated mantra, there is not a finite number of coins to be mined, more can and will always be added
459
Bob
08/02/2021 16:58:41 4 20
bbc
I suggest you understand WHY money is printed. Once you've done that, come back and try again.
603
08/02/2021 17:47:32 7 1
bbc
true. roman emperors were assassinated for debasing the currency. central banks are applauded (by governments) for doing so.
686
08/02/2021 18:07:48 3 1
bbc
spot on
712
08/02/2021 18:15:21 0 2
bbc
The central banks only have themselves to blame for what is happening. Years of manipulation can only be tolerated for so long before people see through the lies.

Or others think I'll try that and see if anyone buys.
910
08/02/2021 19:42:55 1 0
bbc
Bring back the Gold Standard
08/02/2021 20:21:58 2 1
bbc
I'm happy to back fiat currencies as long as the central banks don't allow inflation to take off. Which they haven't so far.
9
08/02/2021 15:16:35 7 8
bbc
I bet the guy who paid for pizza with 10000 bitcoins is crying into his pepperoni about now.

On May 22, 2010, now known as Bitcoin Pizza Day, Laszlo Hanyecz agreed to pay 10,000 Bitcoins for two delivered pizzas.
31
08/02/2021 15:20:32 2 2
bbc
Imagine if he's still got them and tried to sell them on
38
08/02/2021 15:21:46 2 2
bbc
I think he probably ate the pizzas.
8
08/02/2021 15:16:23 5 31
bbc
Bitcoin will soon be our main currency, RIP £
32
08/02/2021 15:19:10 3 5
bbc
You are wrong my love.
144
08/02/2021 15:42:28 2 1
bbc
Sorry darling we will have to agree to differ
33
08/02/2021 15:21:09 1 8
bbc
I’m sure Mr Bailey is “very nervous” as he seems a long way behind the curve on this. Bitcoin & it’s alternatives are the future of money. The fiat currencies of the western world are saddled with ridiculous debt and printing more is the only option they have. Zimbabwe was a laughing stock and we’re now worse.
34
08/02/2021 15:21:32 7 2
bbc
dogecoin up 850% not 50% !! Bitcoin is anti establishment which is another reason Musk bought. He also knows his buying would surge the price so he would make lots more money & everyone else who has ever bought Bitcoin is now in profit!!!
105
08/02/2021 15:30:49 0 3
bbc
not if you subsequently sold your bitcoin before this announcement.
35
08/02/2021 15:21:34 303 30
bbc
Market manipulation.

He buys, then says he's bought, his investment goes up.

Oddly, he doesn't need to announce he will sell before he does.

The market is rigged
98
08/02/2021 15:33:12 141 20
bbc
Bitcoin ISN’T regulated.
240
08/02/2021 16:02:46 24 11
bbc
You say the market is rigged, but look at fiat. The money printing machines are in overdrive right now. Crypto's cant be manipulated like that. How much will traditional currency be worth in years to come?
607
08/02/2021 17:48:27 7 10
bbc
have fun staying poor
844
08/02/2021 19:12:35 0 1
bbc
this can't be market manipulation as the information came from an SEC Filing. Telsa is legally required to disclose its holdings in bitcoin.
08/02/2021 20:18:51 4 1
bbc
Elon Musk is a crook, you mean.
08/02/2021 21:15:57 1 1
bbc
You have a point here. Several companies have already invested in Bitcoin before TSLA, and didnt need to shout about it.
Waz
09/02/2021 01:06:34 0 0
bbc
Preach to those on Wall St and city of London, not Musk
09/02/2021 03:53:40 0 0
bbc
\the market has always been rigged
sem
09/02/2021 15:13:08 0 0
bbc
lol, same for you bro.
36
08/02/2021 15:21:34 28 11
bbc
In the UK, the FCA gets its underpants in a twist over minor errors in paperwork by Financial Services companies, while seemingly not remotely interested in this whole area.

Bitcoin is like going back in time to Deadwood in the Wild West.
103
08/02/2021 15:30:19 10 3
bbc
An awful lot of the mining claims will prove to have no gold in them!
293
Rob
08/02/2021 16:14:44 1 1
bbc
Meanwhile, the fractional reserve banking system continues to do what it likes. The US printed 20% of the USD last year and set fractional reserves to 0%. It's just the wild west in suits.
37
08/02/2021 15:21:40 139 38
bbc
Bitcoin's carbon footprint is as high as that of an entire country (e.g. Jordan, Sri Lanka, New Zealand - see Christian Stoll's paper). If we want to be green, won't we have to do better?
116
08/02/2021 15:36:00 87 37
bbc
Have you got an estimate for the carbon footprint of the global banking system to compare it against?
358
08/02/2021 16:33:27 3 8
bbc
litecoin is worth a punt, far less energy and faster transaction times
409
08/02/2021 16:45:47 3 1
bbc
Yes. It's called NANO.
505
08/02/2021 17:16:46 12 7
bbc
Yep, anyone who thinks the green future lies with the likes of Tesla/Musk is deluded.
568
08/02/2021 17:35:24 1 4
bbc
That's why Ethereum and proof of stake is such a game changer. Look at all the Defi being done on Ethereum. This is the future of finance.
783
08/02/2021 18:37:09 3 3
bbc
The big miners, especially china, locate their mining equipment next to hydro electric plants. So yes, its a lot of power but green.
886
pcw
08/02/2021 19:33:23 0 0
bbc
Why
892
pcw
08/02/2021 19:36:07 0 1
bbc
I’m sorry I’m a mid 50’s I just don’t understand how something that doesn’t exist creates a footprint.
Am I missing something?
08/02/2021 20:45:25 0 0
bbc
what?
08/02/2021 23:58:25 0 0
bbc
I don't want to be green, I want to be rich...or well off at least
31
08/02/2021 15:20:32 2 2
bbc
Imagine if he's still got them and tried to sell them on
38
08/02/2021 15:21:46 2 2
bbc
I think he probably ate the pizzas.
39
08/02/2021 15:21:47 71 44
bbc
Bitcoin has no actual value other than the gratuitous carbon-cost of mining it, and that will be how it is remembered historically. That and a way a lot of people lost a lot of money.
53
MVS
08/02/2021 15:24:21 58 31
bbc
Tulip bulbs come to mind.
130
08/02/2021 15:38:35 17 5
bbc
And what is the 'actual value' of fiat currencies attached to? Nothing at all since the gold standard was discontinued.
204
08/02/2021 15:54:35 13 3
bbc
I'd be this bitter if I didnt own any too.
548
08/02/2021 17:30:41 2 5
bbc
selling hard currency to buy fictional money, makes sense?
619
08/02/2021 17:50:01 5 4
bbc
have fun staying poor
663
08/02/2021 18:01:11 1 6
bbc
A lot of shady people will lose a lot of shady money.
795
08/02/2021 18:41:04 1 2
bbc
And a bunch of billionaires reap even more money and avoided paying tax in doing so
08/02/2021 20:22:22 1 0
bbc
Education yourself before spouting ignorant rhetoric. The Blockchain is a cryptographicly secure ledger of transactions and arguably one of the most important digital innovations of the last 10 years. It decouples the centralised trust relationships of finance, contracts in a fully decentralised data source. That's its value.
09/02/2021 03:52:16 0 0
bbc
Regular cash has no value either!! its value is what we put on it.
23
08/02/2021 15:17:35 4 3
bbc
Lose all your dough, I think you meant!
40
08/02/2021 15:21:57 4 3
bbc
Made lots of money with bitcoin since investing 4 years ago while reading comments like yours on the way. It's fun to watch people miss the boat
73
08/02/2021 15:26:21 1 4
bbc
I will be the one laughing when your fairy gold disappears in a puff of smoke!
421
08/02/2021 16:49:09 0 1
bbc
Warning, warning - there's a hole in your boat.
41
08/02/2021 15:22:04 8 4
bbc
I am keen to learn more about cryptocurrencies but I'm probably too cautious to invest in them. I don't have enough to risk losing.

I have been watching some you tube economists / investors and they often have some seemingly valuable tips (as well as predicting financial doom and gloom).

What seems clear to me is that traditional methods (banks) are losing their status as king.
88
08/02/2021 15:30:34 6 1
bbc
Charlie
I’ve been in the crypto space a long long time
My advice is to understand when social media gets very loud, it’s only very loud when the price goes up
The influencers of this space were very quiet between 2017 and 2021.

Rising tides lift all boats is a very apt saying with crypto
885
08/02/2021 19:07:59 0 0
bbc
Read "The Bitcoin Standard" by Sefedean Ammous. Easily available on Amazon - it will change your life.
42
08/02/2021 15:22:25 37 30
bbc
And in the criminal communities there was much rejoicing...
75
08/02/2021 15:29:22 56 12
bbc
Erm..... cash never been used for criminality?
174
08/02/2021 15:50:24 1 4
bbc
would have thought it a bit volatile for criminals, they much prefer cash or gold
635
08/02/2021 17:53:41 3 2
bbc
have fun, staying poor
43
08/02/2021 15:22:30 22 17
bbc
Pyramid scheme invests in pyramid scheme
235
08/02/2021 16:00:17 11 6
bbc
A pyramid scheme has to have someone at the helm, creaming off the profits. Whilst that may be true of Tesla, Bitcoin is DECENTRALISED... no pyramid or Ponzi here. PLEASE stop repeating the same tired tropes, do some research and you'll see that Bitcoin is the future.
23
08/02/2021 15:17:35 4 3
bbc
Lose all your dough, I think you meant!
44
08/02/2021 15:22:37 1 1
bbc
Same difference
25
08/02/2021 15:19:31 2 1
bbc
Read an article saying Elon was stepping away from Twitter... His lawyers probably told him “cool it” before the SEC starts calling again....
45
08/02/2021 15:22:42 0 2
bbc
He drove the price up, and then Tesla bought in. Other way round is questionable but he just got less bang for his buck.
14
08/02/2021 15:18:19 6 3
bbc
Why blame BBC? The BoE and many others have expressed concern, BBC is just reporting facts. Bitcoin will no doubt succeed regardless of what BBC thinks.
46
08/02/2021 15:22:23 3 4
bbc
BBC might report facts, but it very carefully chooses which facts to report. A lie of omission is still a lie.
47
08/02/2021 15:22:58 4 4
bbc
The consequence of there being too much cheap money swilling around due to central bank excesses is this perpetual concoction of bubbles.

The economy does not need water and soap, it needs direction. An increase in base rates is long overdue.
48
08/02/2021 15:23:00 2 5
bbc
I am sure you can invest a better mean and benefiting the world, such as vaccine or medical for the unfortunate.
49
08/02/2021 15:23:07 40 9
bbc
Bitcoin is unregulated, so any suggestion Mr Musk is guilty of market manipulation are deluded. It’s cheap PR for Tesla.
202
08/02/2021 15:55:52 16 5
bbc
Bitcoin isn't regulated but try moving between the regulated financial world and bitcoin then you'll see how heavily regulated it is.
219
Bob
08/02/2021 15:58:25 5 2
bbc
It is still market manipulation. Doesn't have to be a regulated market in order to be able to be manipulated.
225
08/02/2021 15:59:51 8 3
bbc
Just because something is "unregulated" doesn't mean it can't be manipulated. If anything, it makes manipulation easier, because there's no traceable audit trail.
632
08/02/2021 17:52:57 2 3
bbc
have fun staying poor
50
08/02/2021 15:23:13 5 9
bbc
Many more companies will now jump in & Bitcoin will achieve what those who knwo & have already forecast - $100,000 or more this year!!!
51
MVS
08/02/2021 15:23:20 107 18
bbc
Combine the words Musk, Tesla and Bitcoin into a single article and then open an HYS stream, certain that there will be some weird and wonderful theories propounded here.
My own personal weird theory is that Musk is playing with the media again, and the BBC swallows the bait.
Its the same with O'Leary and Ryanair.
Both of them know how to get free publicity.
65
08/02/2021 15:26:49 70 16
bbc
Combine those three words and you have the 21st century’s version of snake oil!
145
08/02/2021 15:42:30 9 2
bbc
O’Leary is an amateur; Musk has a vast, loyal following, which recognises his wealth will manipulate markets. So they jump on board and it all goes brilliantly well.

Until it doesn’t.

This is the worst kind of capitalism and Musk is the new Orwellian Napoleon.
611
08/02/2021 17:49:12 4 5
bbc
have fun staying poor
649
08/02/2021 17:58:05 4 1
bbc
They can still learn a thing or two about media manipulation from the Royal family.
685
08/02/2021 18:07:44 2 2
bbc
As does Katie Price, and the BBC fall for that one every time.
52
08/02/2021 15:23:36 4 5
bbc
Guess they've got to find a way to fund all those recalls.
See the naked Emperor there, his screen isn't working either.
39
08/02/2021 15:21:47 71 44
bbc
Bitcoin has no actual value other than the gratuitous carbon-cost of mining it, and that will be how it is remembered historically. That and a way a lot of people lost a lot of money.
53
MVS
08/02/2021 15:24:21 58 31
bbc
Tulip bulbs come to mind.
167
08/02/2021 15:48:38 6 1
bbc
...and pineapples. (look it up if you don't believe me!)
197
08/02/2021 15:54:30 14 3
bbc
Yeah, because the chunky profits I've already part sold and withdrawn into my bank isn't real. Damn.
213
08/02/2021 15:57:40 2 3
bbc
Think Tulip and what country comes to mind? A multi billion market evolved from that bubble burst.
08/02/2021 20:47:31 1 0
bbc
Boomers were saying the same in 2017 at 3k and will be saying the same at 100k. Don't worry though, you enjoy your 10% interest on vanguard lifestrategy 60% eq 40% bonds.
DF
09/02/2021 09:21:25 0 0
bbc
Salty
54
Bob
08/02/2021 15:24:26 9 4
bbc
Bitcoin will never be adopted on a mass scale.

Will crypto? Can't rule it out. But you'll be paying for every day items with Bit Pounds not Bitcoin.
71
08/02/2021 15:28:11 6 3
bbc
The market cap of Bitcoin is $800billion
How do you define mass scale?
84
08/02/2021 15:28:35 5 2
bbc
Pretty simple they’re bringing out credit cards backed by crypto ... mass adoption is here already if you want it
91
08/02/2021 15:31:44 2 2
bbc
We'll see. The beauty of bitcoin is decentralisation. While I don't doubt each country will eventually produce a stablecoin, investors attracted to BTC aren't going to see the appeal in one controlled by the government
55
08/02/2021 15:25:24 13 9
bbc
Bitcoin and crypto markets are the future. We're at a stage similar to the early days of the internet where some folks will try and persuade you to use traditional tech and that it's nothing more than a fad

The BoE would try and put people off, they don't want people using alternative currencies/stores of wealth
96
08/02/2021 15:32:51 4 6
bbc
Utter rubbish
122
08/02/2021 15:32:41 2 1
bbc
They are the future to losing everything you own and then some!
477
08/02/2021 17:04:58 0 1
bbc
A store of wealth? That must be how bank robbers see the world.
884
08/02/2021 19:06:52 0 1
bbc
I am with you Alex - EUREKA (an oxymoron if ever I heard LOL) and the HostesswiththeMostest are very clearly ignorant and cannot be bothered to do some critical thinking. They will HFSP.
56
08/02/2021 15:24:19 6 8
bbc
Seems like a lot of people are trying to manipulate Bitcoin on HYS! it isn't real folks, it is end of the rainbow fairy gold, that just like a rainbow, can disappear just like that! There are no easy ways to make money, hard graft is the key.
188
08/02/2021 15:49:32 1 1
bbc
Sure, that’s how the world works
676
08/02/2021 18:04:21 0 0
bbc
Work will set you free, is that what you are saying?
57
08/02/2021 15:25:26 10 10
bbc
18.6M bitcoin are currently in circulation, with a maximum number of 21M reached next century as they are all mined. 90% of all bitcoin are in the hands of 10% of accounts. Only the rich, financial spivs, bitcoin exchanges and the small number of owners have any interest in this. They only make money when they are traded. It has no relevance for ordinary people and should be banned.
68
08/02/2021 15:27:26 23 3
bbc
99% of all world currency is in the hands of 1%
What’s your point here?
74
08/02/2021 15:29:15 5 2
bbc
I was with you right up to when you said Bitcoin should be banned. Why? Why ban it?
172
08/02/2021 15:49:43 2 6
bbc
What happens when somebody else opens up another virtual mine adjacent to Bitcoin?
Who actually sets the maximum number?
183
08/02/2021 15:52:25 1 3
bbc
I'm surprised he went straight in on Bitcoins, there are plenty other upcoming crypto in the offering at a fraction of the price.
281
08/02/2021 16:12:33 2 1
bbc
If it has no relevance to normal people why should they care if it's banned or not?
58
08/02/2021 15:25:26 118 34
bbc
Bitcoin is an easy product to bash because its use case difficult to explain
The truth is most people who own it don’t understand it

Just to provide the non-Crypto audience here with some scale
The market cap of Bitcoin is now over $800billion. Larger than Tesla itself

This means it isn’t going away, take the time to understand it.
It will be here for a long time
289
08/02/2021 16:15:09 58 21
bbc
Well said. There are a great deal of people, typically those in this HYS who really do not understand cryptocurrency whatsoever. The use cases of cryptocurrency are still in their infancy and we're still in the very early stages of cryptocurrency use. It really isn't going anywhere, any time soon.
301
08/02/2021 16:18:12 7 7
bbc
Go on then, try and realise this 'asset'.
414
08/02/2021 16:47:05 9 10
bbc
So Bitcoin is an even bigger bubble than Tesla ?
525
VoR
08/02/2021 17:23:01 8 7
bbc
Still could go away. For example, if it became regulated, it might suddenly become much less attractive to its current and potential consumer base.
563
08/02/2021 17:36:32 6 7
bbc
How many people who own gold understand how it’s value is determined?
654
08/02/2021 17:59:10 10 5
bbc
US$800billion of Nothing. When a genuine digital currency that is stable and manageable appears Bitcoin will be worthless. Cash is on its way out, digital payment systems are coming but the volatility of this means it cannot be seriously used by business. Whatever Musk says this is manipulating the market and is using social media to do it
660
08/02/2021 17:59:56 6 7
bbc
This means it's good for money laundering.
790
08/02/2021 18:39:24 1 4
bbc
And just exactly what do you own....othing. If you buy $, £ Yen etc at least you own something no matter whatits worth.
08/02/2021 21:02:42 2 1
bbc
I can just about remember when the Internet was a fad, a bubble, a poinless thing that geeks got excited about. Same people who thought that bash Crypto now. They will not seen the irony they are now denouncing tech, using tech they denounced.
08/02/2021 21:34:43 0 1
bbc
Will Musk be selling his bitcoin in exchange for proper currencies then?
08/02/2021 21:51:47 0 0
bbc
The only question is how large the bubble can grow before it bursts.
59
08/02/2021 15:25:43 4 6
bbc
It’s not a currency!
80
08/02/2021 15:26:46 0 6
bbc
It is just a con.
107
08/02/2021 15:31:58 0 1
bbc
It is imaginary fairy gold.
60
08/02/2021 15:25:52 1 3
bbc
What an excellent subject for an HYS.
13
08/02/2021 15:17:44 65 18
bbc
I feel like Elon Musk is trying to manipulate the market again like when he tried the same thing with tesla stocks about a year ago.
61
08/02/2021 15:26:07 34 18
bbc
yes - Bitcoin is sure to surge when he gets in! But this is his whole reasoning, he is anti establishment & wants Bitcoin to disrupt! This is one of only ways people can fight against the proven corrupt big institutions & not be confined to the worthless dollar!
120
08/02/2021 15:36:46 8 4
bbc
Or is he just doing his own mini short. He buys a ton, the price goes up, other investors pile in, the stock goes up. He sells making a good profit and then the stock plummets.

unethical but is stock trading 101
175
08/02/2021 15:46:49 6 3
bbc
Almost anywhere in the world, you can take and spend US dollars in exchange for real goods and services. You can't do that with Sheep Coin!
08/02/2021 20:23:52 1 0
bbc
He is the establishment
08/02/2021 21:03:34 1 0
bbc
It adds up to Bitcoin's volatility, and it's volatility is why it will not be a consideration for most people. Would you like your salary to be paid in Bitcoin - and without the ability to convert it into 'real' money (otherwise you're not really buying into it are you).
08/02/2021 22:26:57 2 0
bbc
hes' the richest man in the world - he is the establishment
62
08/02/2021 15:26:32 7 5
bbc
It's all very well, but with purely electronic investments with no physical evidence, if you lose your key, or have your e-wallet hacked, you lose everything. No recourse, nothing. It is a much bigger risk than other investments.
94
08/02/2021 15:32:39 3 2
bbc
I've forgotten my password, and now I can't get in the b****y car!
305
08/02/2021 16:19:29 0 1
bbc
You can trace every transaction ever made. Hardware wallets exist, which secure your funds. And there is insurance available, if you choose it.
11
08/02/2021 15:17:28 339 53
bbc
Expect a huge sale of Bitcoin from Tesla once all the lavish sheep buy in
63
08/02/2021 15:26:39 135 35
bbc
Er yes, thats what everyone does on any trading market.
97
08/02/2021 15:32:55 6 21
bbc
Not everyone pumps and dumps. They’ll just sell the bitcoin because it has no value.
757
08/02/2021 18:32:41 1 2
bbc
Except in this case it's market manipulation which is illegal lol
08/02/2021 20:45:58 0 0
bbc
Not really. It isn't like a Ladbrokes hence the concern.
If you want to gamble then you love the instability, but most investors edge to the conservative side.
64
08/02/2021 15:26:40 2 3
bbc
I hear the resale value of a Tesla isn't bad, so money launderers will be delighted.
946
08/02/2021 19:52:41 0 0
bbc
HSBC is that who you are talking about?
51
MVS
08/02/2021 15:23:20 107 18
bbc
Combine the words Musk, Tesla and Bitcoin into a single article and then open an HYS stream, certain that there will be some weird and wonderful theories propounded here.
My own personal weird theory is that Musk is playing with the media again, and the BBC swallows the bait.
Its the same with O'Leary and Ryanair.
Both of them know how to get free publicity.
65
08/02/2021 15:26:49 70 16
bbc
Combine those three words and you have the 21st century’s version of snake oil!
99
08/02/2021 15:33:16 5 3
bbc
Absolutely right!
976
08/02/2021 20:03:36 2 1
bbc
Ahh yes Bitcoin, the currency that has been predicted to fail for 10 years now.. and its now worth £30k a coin...
08/02/2021 22:35:07 3 1
bbc
The only snake oil salesman is Farage
28
Hex
08/02/2021 15:20:14 18 4
bbc
Thought Elon was meant to be clever? He could have bought it a year ago at half the price!
66
08/02/2021 15:27:07 19 1
bbc
He probably did !
67
08/02/2021 15:27:18 4 12
bbc
He's even more bonkers than I thought he was. Crapto currencies are underwritten by nothing. Madness to go anywhere near them. The biggest scam ever.
101
08/02/2021 15:29:58 4 1
bbc
What is GBP underwritten by? You know why it was originally called Pound Sterling right?
123
08/02/2021 15:32:54 1 1
bbc
Whats the bigger scam? Putting your money in the banks pocket or your own pocket?
57
08/02/2021 15:25:26 10 10
bbc
18.6M bitcoin are currently in circulation, with a maximum number of 21M reached next century as they are all mined. 90% of all bitcoin are in the hands of 10% of accounts. Only the rich, financial spivs, bitcoin exchanges and the small number of owners have any interest in this. They only make money when they are traded. It has no relevance for ordinary people and should be banned.
68
08/02/2021 15:27:26 23 3
bbc
99% of all world currency is in the hands of 1%
What’s your point here?
09/02/2021 11:54:27 0 0
bbc
It is a game for the rich and has no relevance for the poor.
9
08/02/2021 15:16:35 7 8
bbc
I bet the guy who paid for pizza with 10000 bitcoins is crying into his pepperoni about now.

On May 22, 2010, now known as Bitcoin Pizza Day, Laszlo Hanyecz agreed to pay 10,000 Bitcoins for two delivered pizzas.
69
08/02/2021 15:27:27 0 2
bbc
yep & half the people commenting here who are clearly not i & so annoyed!
29
08/02/2021 15:20:18 483 72
bbc
Bitcoin investments are yet another example of how the world economy is becoming increasingly comprised of speculator behaviour, investing in markets and/or assets, over saving and physical production.

All these bubbles being created and inflated do not in any way symbolise a healthy sustainable economy.
70
08/02/2021 15:27:42 127 13
bbc
Need long term approaches and not short term ones that result in markets crashing
323
08/02/2021 16:24:45 12 2
bbc
Long term? Bitcoin would have given you the best return on your investment over the last 10 YEARS....too long for you?
54
Bob
08/02/2021 15:24:26 9 4
bbc
Bitcoin will never be adopted on a mass scale.

Will crypto? Can't rule it out. But you'll be paying for every day items with Bit Pounds not Bitcoin.
71
08/02/2021 15:28:11 6 3
bbc
The market cap of Bitcoin is $800billion
How do you define mass scale?
72
08/02/2021 15:25:22 3 2
bbc
Papa Musk rocks ... I love that now even people that hate BTC are likely to own it if they hold any US stock funds
40
08/02/2021 15:21:57 4 3
bbc
Made lots of money with bitcoin since investing 4 years ago while reading comments like yours on the way. It's fun to watch people miss the boat
73
08/02/2021 15:26:21 1 4
bbc
I will be the one laughing when your fairy gold disappears in a puff of smoke!
57
08/02/2021 15:25:26 10 10
bbc
18.6M bitcoin are currently in circulation, with a maximum number of 21M reached next century as they are all mined. 90% of all bitcoin are in the hands of 10% of accounts. Only the rich, financial spivs, bitcoin exchanges and the small number of owners have any interest in this. They only make money when they are traded. It has no relevance for ordinary people and should be banned.
74
08/02/2021 15:29:15 5 2
bbc
I was with you right up to when you said Bitcoin should be banned. Why? Why ban it?
95
08/02/2021 15:32:46 10 4
bbc
Because he missed buying it himself :)
09/02/2021 11:55:55 0 0
bbc
Because it has no relevance for the poor and is pushed to ordinary people just to inflate the price and give the exchanges their fees.
42
08/02/2021 15:22:25 37 30
bbc
And in the criminal communities there was much rejoicing...
75
08/02/2021 15:29:22 56 12
bbc
Erm..... cash never been used for criminality?
117
08/02/2021 15:36:25 10 5
bbc
Good luck smuggling cash above £10,000 across any border. Bitcoin allows them to move billions at a whim.
536
VoR
08/02/2021 17:24:50 1 3
bbc
Cash isn't perfect but the banking system does have rules about reporting suspicious transactions etc. (My old business caught more than a few.) Whereas bitcoin is almost designed to avoid scrutiny.
573
08/02/2021 17:39:01 0 3
bbc
It has been estimated that about 2% of bitcoin transactions are illicit. Are you claiming that the proportion of cash transactions that are illicit is anywhere near as high as that?
76
08/02/2021 15:29:25 4 2
bbc
I shouldn't say it but... I told you so! And it's just the beginning!
77
08/02/2021 15:29:30 0 5
bbc
So this company that makes zero profit except by selling carbon credits (which means Tesla RELIES on other companies to pollute the environment) has $1.5 billion to throw around on silly ventures. Crazy.
109
08/02/2021 15:32:08 2 1
bbc
market cap of $800 billion, doesnt sound too silly
12
08/02/2021 15:17:39 10 10
bbc
Another way to avoid corporate taxes Mr Musk? Most Government Treasuries won't recognise Bitcoins so and transactions that way will effectively be tax free......................
78
08/02/2021 15:29:29 7 2
bbc
No this is completely wrong.

Any gains from trading Bitcoin are classed as capital gains in the us and subject to the same income tax laws as a salary if held for less than a year.

If a Tesla is sold for Bitcoin the value and profit would be recorded on a balance sheet the same as if it was purchased for cash.
79
08/02/2021 15:29:48 2 3
bbc
Bitcoin, perfect for buying the emperor's new clothes.
501
08/02/2021 17:16:15 0 2
bbc
When I can use it for my weekly shop I might take it seriously.
59
08/02/2021 15:25:43 4 6
bbc
It’s not a currency!
80
08/02/2021 15:26:46 0 6
bbc
It is just a con.
23
08/02/2021 15:17:35 4 3
bbc
Lose all your dough, I think you meant!
81
08/02/2021 15:28:03 1 1
bbc
Haha yeah ! Good one !
82
08/02/2021 15:28:07 114 49
bbc
Here come the “it’s a scam” brigade... because your FIAT that benefits only the bankers, and that has made everyone but a few in the financial sector poorer, that’s not a scam, is it?

Enjoy staying poor.
133
08/02/2021 15:39:03 52 37
bbc
Of course it's a scam.
Where's the math that supports it?
454
08/02/2021 16:57:53 1 1
bbc
Yes, you see, saying Bitcoin etc. are 'a scam' doesn't automatically mean people think fiat currencies are wonderful. Amazingly, it's actually quite easy to see the flaws in both.
462
08/02/2021 16:59:55 0 4
bbc
So how many have you got? Same as me then! I have no need to buy black market oil.
519
VoR
08/02/2021 17:21:15 0 2
bbc
You used capital letters so you must be right.
08/02/2021 21:36:08 0 0
bbc
Changing it to unknown gangsters? No thanks.
09/02/2021 09:22:27 0 0
bbc
Its "have fun staying poor" lol. Or just HFSP.
83
08/02/2021 15:28:30 1 1
bbc
Why not DOGE Elon?
54
Bob
08/02/2021 15:24:26 9 4
bbc
Bitcoin will never be adopted on a mass scale.

Will crypto? Can't rule it out. But you'll be paying for every day items with Bit Pounds not Bitcoin.
84
08/02/2021 15:28:35 5 2
bbc
Pretty simple they’re bringing out credit cards backed by crypto ... mass adoption is here already if you want it
2
08/02/2021 15:14:36 68 29
bbc
This is going to end in tears for a lot of small currency speculators.
85
08/02/2021 15:28:45 53 21
bbc
Been in since 3 digits, not crying yet.....
170
08/02/2021 15:49:38 16 4
bbc
Exactly!! It's the people who missed the boat who will be crying lol
AJ
08/02/2021 22:22:58 6 1
bbc
Don’t forget - you’ve only made a profit when you’ve sold your asset. While you still hold your unrealised asset it is subject to fluctuations in value - in the worst case scenario, it could reduce in value to nil. How might this happen with Bitcoin? If it becomes regulated and/or another cryptocurrency becomes the currency of choice.
08/02/2021 22:28:06 3 0
bbc
you eating yourself now then pal?
29
08/02/2021 15:20:18 483 72
bbc
Bitcoin investments are yet another example of how the world economy is becoming increasingly comprised of speculator behaviour, investing in markets and/or assets, over saving and physical production.

All these bubbles being created and inflated do not in any way symbolise a healthy sustainable economy.
86
08/02/2021 15:30:17 7 4
bbc
Agreed. Although I think it's like so many areas of economy - there's a lot of trial and error activity around something fairly new (12 years is baby terms in money, crypto or otherwise) and ultimately out the chaos will come order.
87
08/02/2021 15:30:24 83 30
bbc
Tesla to rename company as South Sea Bubble Cars Inc.
Free Tulip with everyone sold - buy your Tulip Futures now.
338
08/02/2021 16:27:39 37 23
bbc
You do realise a 17th Century analogy of an asset that isn’t restricted in terms of scarcity is not the most apt analogy
Regardless of how many times people say it
616
08/02/2021 17:49:46 5 5
bbc
have fun, staying poor
08/02/2021 23:49:51 0 1
bbc
OK boomer.
41
08/02/2021 15:22:04 8 4
bbc
I am keen to learn more about cryptocurrencies but I'm probably too cautious to invest in them. I don't have enough to risk losing.

I have been watching some you tube economists / investors and they often have some seemingly valuable tips (as well as predicting financial doom and gloom).

What seems clear to me is that traditional methods (banks) are losing their status as king.
88
08/02/2021 15:30:34 6 1
bbc
Charlie
I’ve been in the crypto space a long long time
My advice is to understand when social media gets very loud, it’s only very loud when the price goes up
The influencers of this space were very quiet between 2017 and 2021.

Rising tides lift all boats is a very apt saying with crypto
89
08/02/2021 15:31:18 2 3
bbc
Good time to realise any bit coin holding into real money then eh?
124
08/02/2021 15:32:59 7 4
bbc
By “real money” you mean inflationary GBP that drops in value every year? No thanks, boomer.
90
08/02/2021 15:31:26 1 6
bbc
Musk buys $1.5 billion in Bitcoin & the price goes up 15%?

You can guarantee that if anyone sold a tenth of that amount Bitcoin would instantly fall by at least half if not way more.

He'll never get it out!
100
08/02/2021 15:33:58 5 2
bbc
How does that maths work?
The market cap is $800billion
They bought 0.19%

So you’re saying if somebody sold 0.019% then the price would halve?

What are you talking about?
54
Bob
08/02/2021 15:24:26 9 4
bbc
Bitcoin will never be adopted on a mass scale.

Will crypto? Can't rule it out. But you'll be paying for every day items with Bit Pounds not Bitcoin.
91
08/02/2021 15:31:44 2 2
bbc
We'll see. The beauty of bitcoin is decentralisation. While I don't doubt each country will eventually produce a stablecoin, investors attracted to BTC aren't going to see the appeal in one controlled by the government
242
Bob
08/02/2021 16:03:13 0 3
bbc
People investing in Bitcoin couldn't care less about it not being controlled by government. They care about it making money.
4
08/02/2021 15:15:08 4 5
bbc
OK for some eh'
92
08/02/2021 15:32:21 2 4
bbc
Really wondering what it was that led people to vote your comment down.

"Oh no! Someone shared a thought in the comments section of a news story! I can't stand that!" *vote down*
6
08/02/2021 15:15:30 178 36
bbc
More market manipulation by Musk talking up assets he is long in. SEC really should look into him harder rather than just ignore it as "it's Tesla". I thought they were screening his tweets? He'll ride the wave and take the profit.
93
08/02/2021 15:32:28 89 18
bbc
Bitcoin ISN’T regulated.
125
08/02/2021 15:35:02 12 12
bbc
Seeing as it is apparently so widely used in crime and money laundering, it should be heavily regulated!
62
08/02/2021 15:26:32 7 5
bbc
It's all very well, but with purely electronic investments with no physical evidence, if you lose your key, or have your e-wallet hacked, you lose everything. No recourse, nothing. It is a much bigger risk than other investments.
94
08/02/2021 15:32:39 3 2
bbc
I've forgotten my password, and now I can't get in the b****y car!
74
08/02/2021 15:29:15 5 2
bbc
I was with you right up to when you said Bitcoin should be banned. Why? Why ban it?
95
08/02/2021 15:32:46 10 4
bbc
Because he missed buying it himself :)
55
08/02/2021 15:25:24 13 9
bbc
Bitcoin and crypto markets are the future. We're at a stage similar to the early days of the internet where some folks will try and persuade you to use traditional tech and that it's nothing more than a fad

The BoE would try and put people off, they don't want people using alternative currencies/stores of wealth
96
08/02/2021 15:32:51 4 6
bbc
Utter rubbish
836
08/02/2021 19:07:23 0 0
bbc
Well argued. Excellent.
63
08/02/2021 15:26:39 135 35
bbc
Er yes, thats what everyone does on any trading market.
97
08/02/2021 15:32:55 6 21
bbc
Not everyone pumps and dumps. They’ll just sell the bitcoin because it has no value.
212
08/02/2021 15:57:37 4 11
bbc
They will probably move into Ethereum, which does have value, and utility, when they start using it for their cars.
Dow
08/02/2021 20:58:02 0 0
bbc
Whatever value it has isn't depreciating like Sterling
08/02/2021 22:31:38 0 0
bbc
The Financial system is far more crooked. Naked short selling is illegal but it goes on with the full knowledge of regulators. ie shorting or going long on shares that don't even exist
35
08/02/2021 15:21:34 303 30
bbc
Market manipulation.

He buys, then says he's bought, his investment goes up.

Oddly, he doesn't need to announce he will sell before he does.

The market is rigged
98
08/02/2021 15:33:12 141 20
bbc
Bitcoin ISN’T regulated.
153
08/02/2021 15:44:49 29 5
bbc
Making it a perfect tool for market manipulation!!!
234
08/02/2021 16:00:04 15 17
bbc
Bitcoin isn't real.
374
08/02/2021 16:36:44 6 4
bbc
neither is PayPal which is why they can and do lock customers money away for months.
782
08/02/2021 18:35:51 6 2
bbc
More the point and just exactly wher does this currency get its valididty.
08/02/2021 20:21:18 3 0
bbc
That's the problem - being unregulated, you can only sell when it goes up and every one else is buying. When it falls, there will be severe cash crunch in these unregulated crypto exchanges. They don't even have to give you any money, none of them assure this or hold your cryptocurrency in trust. They could just do a runner and keep the money. Happened - Mt Gox. Cold wallets don;t help make gains.
08/02/2021 20:44:02 0 3
bbc
So
08/02/2021 20:48:41 3 0
bbc
Good. Just like betting, don't get any more than you can afford to lose.
08/02/2021 22:28:14 0 0
bbc
The Financial market is only regulated in name. Naked short selling is illegal but it goes on all the time with the regulators in full knowledge.
09/02/2021 06:44:07 0 0
bbc
"Bitcoin ISN'T regulated". If you knew anything about it, you'd know that it is going to be in the very near future. This will now give it the total legitimacy is needs, that's why its going to go mainstream and be accepted by many big corporations world wide.
f
09/02/2021 20:35:15 0 0
bbc
Yes it is. It is very highly regulated. Do some research.
65
08/02/2021 15:26:49 70 16
bbc
Combine those three words and you have the 21st century’s version of snake oil!
99
08/02/2021 15:33:16 5 3
bbc
Absolutely right!
90
08/02/2021 15:31:26 1 6
bbc
Musk buys $1.5 billion in Bitcoin & the price goes up 15%?

You can guarantee that if anyone sold a tenth of that amount Bitcoin would instantly fall by at least half if not way more.

He'll never get it out!
100
08/02/2021 15:33:58 5 2
bbc
How does that maths work?
The market cap is $800billion
They bought 0.19%

So you’re saying if somebody sold 0.019% then the price would halve?

What are you talking about?