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A comment on Tesla buys $1.5B in Bitcoin, may accept it as payment in the future. Parent comment

Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by sireat on Monday February 08, 2021 @09:30AM (#26064902)
Many of us have been around crypto for a long time (meaning since 2010-2011) and have not seen any progress in positive terms.

Most of crypto growth has been pure speculation/ crypto2crytpo related services/morally questionable uses.

Positives * ...

Sort of positive/sort of negative:

Evading capital controls

Being your own bank..

Big Negatives:

* POW energy use - huge one

* POS stakeholder issue

* Hard to use for Joe Sixpack

* Promotes speculation for speculation's sake(I'd say 90%+)

* Instead of Central Reserve Bank you have very shady stablecoins run by select few individuals - ahem Tether and not only Tether

Maybe someone can educate me on benefits of DeFi for a regular human being?

[ Parent | on HN ]
Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by hfsp on Monday February 08, 2021 @09:51AM (#26065218)
Defi is a scam.

Have you calculated the energy costs of the current system, when yelling "huge" energy use?

Have you considered the wasted energy of a government halving a fiat currency holder's purchasing power in a year or less?

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Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by tome on Monday February 08, 2021 @10:10AM (#26065499)
> Have you considered the wasted energy of a government halving a fiat currency holder's purchasing power in a year or less?

In what way would that waste energy?

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Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by hfsp on Thursday February 18, 2021 @05:10PM (#26186399)
Look up the time value of money, inflation, and purchasing power.
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Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by pelliphant on Monday February 08, 2021 @10:17AM (#26065606)
What are the positive sides of "Evading capital controls"?

Also, does POS here mean "piece of shit"?

[ Parent | on HN ]
Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by sireat on Monday February 08, 2021 @10:49AM (#26066070)
Well, if the government is truly repressive evading capital controls can be considered a good thing.

I am still convinced that most people willingly holding Tether are trying to avoid paying taxes and skirt KYC.

That is the only sane explanation for this insanity.

[ Parent | on HN ]
Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by pelliphant on Monday February 08, 2021 @11:04AM (#26066288)
That's a fair point.
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Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by benhurmarcel on Monday February 08, 2021 @11:06AM (#26066302)
Proof of stake
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Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by DarmokJalad1701 on Monday February 08, 2021 @10:51AM (#26066099)
Point of Sale maybe ...
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Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by qqii on Monday February 08, 2021 @11:31AM (#26066651)
Proof of Stake, an alternative to Proof of Work where users stake the currency for a chance to become the next validate (the winning miner). If they do anything shady or not allowed their stake is redistributed to the community.
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Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by pelliphant on Monday February 08, 2021 @10:55AM (#26066148)
Well, that makes more sense, thnx.
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