Discussion in 'Bullion Investing' started by Tyler, Apr 1, 2013.
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up both bit coin and Tesla fit into this category, how high will they go ?
thats the rub...LOL
Nobody knows....Elon Musk wanted to take his company private 750 points ago.
He said the stock was "overpriced" 8 months ago 675 points ago.
It is severely over valued ! however allot of investors me included are hopping
on the bandwagon, the future is electric cars and AI technologies in a luxury
platform, that is TESLA
Somebody had a $4,000 pre-split target for TSLA when the stock price was about $400. Said it could get there in 5 years.
Got there in a little over 5 months..........
Before you jump on that bandwagon, give lots of thought to where the electricity comes from and where the dead batteries go to.
That is not demonstrable of fundamental value . . . it is a feeding frenzy, and will not end well.
The reliability of a Doomsday prediction would depend on far more externalities than the fall / demise of a particular representative of monetary value. Especially a supposed one, such as BitCoin.
I don’t disagree that BC is likely to go up more this year . . . How much, we don’t know.
What I do disagree with is that it represents value. It doesn’t. It represents speculators excitement over a novel development, a new way to ride public interest to outsized profits, and their belief that they can sell off their share of the market before others, so that they are not the one’s who end up catching the falling knife.
BELIEVE ME, IF I THOUGHT BITCOIN REALLY REPRESENTED VALUE, IF I BELIEVED IT WOULD TRULY GO MAINSTREAM, I’D HAVE BOUGHT LONG AGO. BUT IT DOESN’T, AND IT WON’T.
I understand the motivation of those having huge sums of money, willing to risk a meager percentage on this medium, and then publicly supporting its adoption. They’re trying to make their speculations pay off. I understand it, and I don’t like it one bit. They, with their very deep pockets, can afford to lose the money they’ve put into BitCoin, but the general public they are trying to attract into this market cannot.
Is this a pump and dump? In my mind, yes. Not by an individual, but by a class of individuals who can justifiably tolerate the risk, and at the expense of those who cannot.
Except for one thing...the higher BitCoin goes, the MORE the case for it becomes. It's counter-intuitive, I know.
Similar to TSLA surviving by selling stock at high prices.
I think they will get the recycling thing figured out. They are working on it. If you disagree, I'll be happy to hear your explanation.
Where does electricity come from? Well, multiple sources, and I can confirm that wind farms are growing rapidly, just gotta look out my window.
Both issues that are being actively worked. There's plenty of development going on for recycling existing batteries, and for producing batteries that are easier to recycle. Heck, a single 50-gram 16850 cell contains almost a gram of lithium -- that's comparable to the concentration in brine you pump out of the ground, and it's concentrated in part of the cell, so it's even easier to get to.
As for where the electricity comes from, solar and wind production is absolutely exploding. Given a large-scale storage technology, we can use that anywhere. Hmm -- sounds like another job for better batteries!
BitCoin ? Down about $3,200 or 9%. It's just over $32,000 per coin.
So Friday it was at $41,962.36 and now it is at $32,000. That's a bit more than 9%.
I go from the Friday close to today....overnight or weekend moves are usually not quoted on most stock tickers, CNBC, etc.
Where's that damn Post-it!
The problem is that Mr. Thomas years ago lost the paper where he wrote down the password for his IronKey, which gives users 10 guesses before it seizes up and encrypts its contents forever. He has since tried eight of his most commonly used password formulations — to no avail.
“Through the years I would say I have spent hundreds of hours trying to get back into these wallets,” said Brad Yasar, an entrepreneur in Los Angeles who has a few desktop computers that contain thousands of Bitcoin he created, or mined, during the early days of the technology. While those Bitcoin are now worth hundreds of millions of dollars, he lost his passwords many years ago and has put the hard drives containing them in vacuum-sealed bags, out of sight.
“I don’t want to be reminded every day that what I have now is a fraction of what I could have that I lost,” he said.
So eventually all but one bitcoin owners will lose their password and this one person will be left holding what? A digital sack of steamy bits?
Of the existing 18.5 million Bitcoin, around 20 percent — currently worth around $140 billion — appear to be in lost or otherwise stranded wallets, according to the cryptocurrency data firm Chainalysis.
lost, unable to circulate -- but nobody can ever be sure how much, and at any point an arbitrarily huge chunk of it could resurface. I mean, you don't suppose someone would find any reason to lie about having "lost" a few hundred million dollars worth of, well, anything?
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