Foreign Troper
That would be the War on Drugs on steroids.
Certified: 48.0% West Asian, 6.5% South Asian, 15.8% North/West European, 15.7% English, 7.4% Balkan, 6.6% Scandinavian
A procrastination in of itself
I’d be surprised if all the shareholders are going to react well to Musk’s statements that any Bitcoin Tesla is paid will be kept as Bitcoin and not turned into cash.
That’s a good action to try and stabilise Bitcoin, but investors like company assets to either be used for company development (which with Bitcoin’s small purchasing ability it’s viable without converting it) or be used to give them dividends.
"And the Bunny nails it!" ~ Gabrael "If the UN can get through a day without everyone strangling everyone else so can we." ~ Cyran
![[up]](https://static.tvtropes.org/pmwiki/pub/smiles/arrow_up.png "[up]"){kind=icon}
No, I don't think a hypothetical prohibition of bitcoin is comparable to banning recreational drug use. The substances in question are just too different.
Bitcoin has an absolutely horrible effect on the environment, we absolutely should use whatever means available to end it as a practice.
Edited by Fourthspartan56 on Mar 24th 2021 at 3:14:33 AM
"Sandwiches are probably easier to fix than the actual problems" -Hylarn
Disasturbator
I think what most people involved money are hoping is that bitcoin is a fad that will quickly pass without someone having to lift a finger,no action means no consequence,ergo banning or prohibiting bitcoin would have consequences that most people want to avoid
New theme music also a box
Foreign Troper
I was speaking about the practicality.
A procrastination in of itself
What could at least temporarily kill Bitcoin is if we see a Carbon Tax emerge as it would heavily disrupt mining operations. Long term a shift to green energy could allow it to rebound, but it would then be less harmful and just one of many silly things people like to trade.
"And the Bunny nails it!" ~ Gabrael "If the UN can get through a day without everyone strangling everyone else so can we." ~ Cyran
An outright ban would sink any hope of Bitcoin ever becoming a legitimate currency. That alone would tank its market value to nothing.
Yes, and from that POV they're just as incomparable.
You can't compare the requirements for bitcoin mining to growing drugs, the activities are completely different.
Edited by Fourthspartan56 on Mar 24th 2021 at 3:42:06 AM
"Sandwiches are probably easier to fix than the actual problems" -Hylarn
A procrastination in of itself
You could probably compare it to literal diamond mining for jewellery purposes. Though obviously non-jewellery diamonds are often used for actual productive purposes.
"And the Bunny nails it!" ~ Gabrael "If the UN can get through a day without everyone strangling everyone else so can we." ~ Cyran
Yeah, that could probably work better as a comparison.
The Wanderer
India's trying to, apparently (Cryptocurrency, that is):
This would make India one of the most cryptocurrency-hostile jurisdictions in the world. China, for example, has imposed a number of restrictions on trading and mining cryptocurrency, but it hasn't banned ownership of cryptocurrencies outright.
The legal status of cryptocurrency has been a subject of controversy in India over the last few years. In 2018, India's central bank banned Indian banks from providing financial services to cryptocurrency exchanges, hampering the growth of the nation's cryptocurrency economy.
Edited by rmctagg09 on Mar 24th 2021 at 2:03:05 PM
Eating a Vanilluxe will give you frostbite.
Oh, bother.
Well we do already have Shadowrun, a setting where dragon hoards take the form of stock portfolios.
Edited by M84 on Mar 25th 2021 at 2:08:59 AM
Disgusted, but not surprised
To be fair, stocks generally do have some use. The main issue is that the stock market is just a massive casino. 
Redmess
Reposting from the Economics thread:
This seems like a bad idea to me. Is this really such a good idea for Tesla?
On any refunds of purchases made with bitcoin, Tesla will decide whether to give the customer dollars or bitcoin. This could result in a loss of value for customers because the price of bitcoin changes rapidly.
Or for consumers, for that matter. It's a risky transaction to begin with, as that disclaimer puts it, and it seems like a great way for Tesla to screw you over on refunds.
Optimism is a duty.
Like reflections in the glass!
I wish them luck. If it passes, it would be the first of several nails in Bitcoin's coffin and the first of many disintegrations of their coffers
Redmess
So would anyone consider buying a Tesla car with bitcoin?
Optimism is a duty.
Lost in Space
I can't say personally. I have no bitcoin, I have no interest in buying any bitcoin, and I view bitcoin mania as a cult based on faulty economic models.
But let's be as fair as possible and think of it as a commodity like gold. I bought some years ago and got to watch as its market value appreciated. I would probably experience a personal sense of vindication in transforming such an asset into a tangible good that I would otherwise have had to part with "real" money for.
"Look at how smart I am for getting in on this thing. Now I have a Tesla free and clear. So there, haters."
On the other hand, I now have less bitcoin and thus my hoard is smaller. If bitcoin continues to rise in value, I have less future money than I would have had I not bought the Tesla. This is the fundamental problem with a depreciating currency.
Edited by Fighteer on Mar 25th 2021 at 12:28:10 PM
"It's Occam's Shuriken! If the answer is elusive, never rule out ninjas!"
Bit of a flawed comparison - as someone pointed out before, gold actually has some practical uses.
Disasturbator
re banning bitcoin
Its too late ,they should have thought about before it got popular,all a ban does is drive it underground.
New theme music also a box
Lost in Space
Yes, of course. My hypothetical ignores that and takes bitcoin at "face value", as it were.
Still, this is a win/win for Tesla. By controlling the terms of the transaction, there's very little chance of it taking a net loss on these sales. In the best case, Tesla builds up a huge hoard of bitcoin that it can hold as a hedge, converting to real currency if necessary or saving for a "crypto future".
Worst case, the bitcoin tanks and Tesla has huge cash reserves to absorb the blow.
Edited by Fighteer on Mar 25th 2021 at 12:59:00 PM
"It's Occam's Shuriken! If the answer is elusive, never rule out ninjas!"
A procrastination in of itself
Musk has apparently ruled out converting it to real currency, which limits the use of it.
It’s likely that the company can find other uses for it beyond hoarding though, assuming it doesn’t want to get involved in the black market it can probably still find some employees willing to have their annual bonus be in Bitcoin.
"And the Bunny nails it!" ~ Gabrael "If the UN can get through a day without everyone strangling everyone else so can we." ~ Cyran
Lost in Space
I'm fairly certain that "promise" carries no legal weight.
"It's Occam's Shuriken! If the answer is elusive, never rule out ninjas!"
A procrastination in of itself
Sure, but he still made it. Unless you think he’s lying?
"And the Bunny nails it!" ~ Gabrael "If the UN can get through a day without everyone strangling everyone else so can we." ~ Cyran
Oh, bother.
Bonuses in Bitcoins...
They might as well offer tulips instead.
Edited by M84 on Mar 26th 2021 at 1:33:34 AM
Disgusted, but not surprised
Can’t someone just ban the damn thing?
Instead of focusing on relatives that divide us, maybe we should try to find the absolutes that tie us.