Tesla buys $1.5B in Bitcoin, may accept it as payment in the future

Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by altcognito on Monday February 08, 2021 @09:21AM (#26064777)

> This electricity often can't be put to any other use anyway.

This is false. If there is surplus electricity, prices would drop, and you could expand availability. Government, especially the Chinese government is more than capable of shaping market demand.

Furthermore, you could displace existing coal based electrical demand in the country.

The value of currency comes from trust that you manage it well, not from the number of bombers.

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Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by Miner49er on Monday February 08, 2021 @09:26AM (#26064848)

There exists energy where it's not economically viable to put on a grid, or really do anything with. Many mine Bitcoin with this energy. Even in the United States. The cost of transporting it is more then the energy is worth.

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Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by nickflood on Monday February 08, 2021 @09:39AM (#26065036)

In Europe where I live, electricity costs 0.06 euro for generation and then 0.25 on top for transportation to me. So eve if the grid is vast, transport costs are vast as well.

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Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by heidar on Monday February 08, 2021 @09:41AM (#26065056)

Iceland definitely has surplus energy. There's been ideas to lay a cables to mainland Europe to export it since it's going to waste at the moment.

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