News for hackers. Stuff that matters.

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 BenoitEssiambre on Monday February 08, 2021 @11:42AM (#26066835)
Sure but cash is held in banks and banks lend that out to be reinvested elsewhere (this investment channel is moderated by central banks). Not so with cryptocoins, it's just pure accumulation of tokens.
[ Parent | on HN ]
Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by whb07 on Monday February 08, 2021 @12:19PM (#26067350)
The people who have $10 Trillion in gold savings beg to differ.

There is a growing market for loans using crypto as collateral.

Using crypto to transact frees up the added financial costs required for charities, non profits , and regular businesses to thrive.

[ Parent | on HN ]
Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ... by BenoitEssiambre on Tuesday February 09, 2021 @07:30PM (#26084425)
> The people who have $10 Trillion in gold savings beg to differ.

Well this is why I said it's dangerous if this becomes a trend. Gold has been tamed. After disastrous episodes, people have learned the lesson and businesses don't keep too much on their balance sheet. As far as I know, Tesla doesn't own 1.5 billions in gold. If they did, and this became a trend, gold might become dangerous to the economy too.

[ Parent | on HN ]