Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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So why would Tesla accept bitcoin as legal tender ?
As an aside Tesla bought $ 1.5 billion worth of bitcoin in Feb as an investment .
It is accounted for as an intangible asset, because bitcoin isn't legal tender . . Bitcoin increased by 30 % over the past month ...Tesla had to book a $ 55 million dollar loss because as an intangible asset it has to be valued at its lowest transactional value during the period .
When it sold 10 % of its bitcoin holding at a profit one month , it made more profit from bitcoin than it made from manufacturing cars.
Like I said ..time to pause and reflect on the implications for gold prices and by definition cey share price
Tesla wears the loss
One question I wanted to ask though relates to volatility.
One bitcoin is worth approx $ 60,000
Let's say I buy a car from Tesla (who are warming to the idea of using bitcoin as payment again )
The car costs $ 60,000 or one bitcoin which I transfer over to Tesla and they accept my bitcoin as legal tender and give me the keys to the car .
The flowing day , bitcoin falls to $50,000
Who bears the loss ?
With respect Mr B . You are missing the point . ETF gold is gold backed ...it appears that investors are switching from ETF gold to ETF bitcoin ..you do the math ..
This could mark a fundamental shift in the way gold is valued , which could affect all gold miners .. that is all I am saying
Time to pause and reflect for me .
Giant squid ...did you ever think for one moment that your one sentence comment about bitcoin would generate so much debate and controversy ?
Interesting thread. It wasn't so long ago that Albania went bust after a pyramid scheme frenzy took hold of too many people. People on low and uncertain incomes were hit hardest. Just saying.
I go for both gold and crypto - why choose when you can pick up both. CEY, TRR, SHG,SRB,HUM, XRP,ADA,ETH.
When the bitcoin bubble bursts, gold will boom. Gold has real value as well as many uses in all kinds of industries, whereas bitcoin is just a worthless pyramid scheme type fad. Buffett and munger are both very opposed to crypto. Yes, they don't like gold all that much either, but for very different reasons to crypto - which munger refers to as "trading turds". I do think bitcoin will come crashing back down to earth in the not too distant future. Russia, China, India, Brazil, Germany etc - they're all stockpiling gold and have been for some time, they know what's coming. Inflation is soaring, there's even talk the US dollar could collapse. Gold will soon be moving very much higher, it's just a waiting game imo.
In that case invest in Bitcoin.
Then thank him or not, for his advice.
I to be honest am not interested in talk of BTC , on cey BB.
Good night good luck.
To be honest , I am up in the air after talking to my son about bitcoin ..I don't know what to think anymore . He is a bitcoin bug and a lot of what he said made sense
Get a good job and a pension with a good FA, get a house, get stable, then when spare money play yourself- that is my advice to my nephew, nieces and my son is well along the way.
A good job is a sure to keep the cash rolling in- you need somewhere to live and can always rent a room out or the house itself and how will you afford the rent when you retire if you don't.
Leave your main pension to the experts, then when you've spare have a gamble yourself. Gold mining stocks are a gamble, but less so though than cryptos.
Steve / Canetoad.
I am yet to have my enlightened chat with my son yet , but here is a thought for you.
Yesterday it was my taxi driver who had bought bit coin, today it's my hairdresser ( honestly )
Bit coin price is nearly 10 times more volatile than the price of gold , so shouldn't all newby investors in Bitcoin also invest in gold as a hedge ?
By the way , only around 30% of gold is held by in
investors . Gold jewelry accounts for around 45% with the remainder being used by tech companies and central banks ..
My rather large holdings in NEX & CEY seem to be struggling this week. Alas, at least my minute holding in BOO was up 0.05% lol!
In the title
Wall Street Breakfast today-
Some predicted the move since he left office, but former President Donald Trump is finally launching his own media network. The new business, called Trump Media & Technology Group (TMTG), will include a social media platform called "TRUTH Social," as well as a subscription video-on-demand service (TMTG+) that features "non-woke" entertainment programming, news and podcasts. The company will go public via a SPAC merger with Miami-based Digital World Acquisition (NASDAQ:DWAC), which surged more than 50% premarket to $15/share.
Quote: "I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech," Trump wrote in a press release. "We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable. Trump Media & Technology Group's mission is to create a rival to the liberal media consortium and fight back against the 'Big Tech' companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America."
Earlier this year, Trump was restricted, and then banned, by major social media giants like Facebook (NASDAQ:FB), Twitter (NYSE:TWTR), Snapchat (NYSE:SNAP) and YouTube (GOOG, GOOGL) after the Jan. 6 storming of the U.S. Capitol. Following the incident, Parler - a free speech social network popular with conservatives - was also removed from the Apple and Google app stores, while Amazon (NASDAQ:AMZN) ended its web hosting agreement. As a result, TMTG appears to be targeting multiple fronts, saying on its website that it eventually hopes to compete against AWS and Google Cloud, as well as Disney (NYSE:DIS) and Netflix (NASDAQ:NFLX).
Along ideological lines? While "TRUTH Social" intends to be America's "big tent" social media company that encourages "free speech," we could be witnessing a further polarization of the corporate landscape. Once upon a time, politics was not married to the business world as it is today, and competing services may continue to sprout up as the country appears more divided. According to a survey from The Hill, 30% of respondents said they'd use a "Trump-backed social media platform," though 54% said they wouldn't and 16% would consider it. TRUTH Social is set for a beta launch next month and a full rollout in the first quarter of 2022
Yep Canetoad.
Am holding Cey and Poly as my goldies as think way undervalued presently.
Cheers.
China owns a lot more gold than it’s letting on – and here’s why
https://moneyweek.com/investments/commodities/gold/603131/how-much-gold-china-owns-yuan-reserve-currency
@Steve: "5years of holding cryptos with a small part of portfolio has massively outperformed anything by a country mile- taken out already 3 times my original investment and still the biggest profit- my only regret"
Likewise. I used to actively trade gold miners (Shanta, Centamin, Barrick, etc. etc), but my profits from trading BTC- and BTC miners has been an order of magnitude bigger.
I'm still very keen on gold, but there is no doubt that the balance of interest has shifted away. BTC is now a bigger currency than the Swiss Franc, while highly respected investors, including George Soros, Paul Tudor Jones and Ray Dalio are all holding a small amounts of BTC.
I used to think that BTC had no value, but that's a flawed way of thinking. All commodities and currencies only have value given by the market. There is nothing supporting the price of gold except sentiment for it. If that sentiment continues to drop, we're in a lot of trouble holding shares like CEY. I'm hoping that as the paper gold from the derivatives market is replaced with real gold that the price will surge, but that's becoming a big gamble - just as risky as investing in BTC.
I wish I'd bought some years ago when I was thinking about it and they were $18 or something, but I still think the same about them now as I did then - they're worth zero.
You can rattle on about blockchain, technology, the future all you want, but the banksters and govt want to control money and the rather naive idea that they'll allow an independent currency to usurp their strangle hold is crazy.
They'll simply bring out their own digital coin and ban all the others. If you can't sell it, transfer money from exchanges to your bank, or buy anything with it then it's value is?????
Well ..I have put out a call to my son tonight ..he has offered to explain to me in simple terms of the errors of my ways ...in a very patronising tone of voice ..
It isn't that long ago that he was shocked to discover that I was father Christmas
It’s like you’re filming “the big short (BTC version)” live in that taxi Candid haha.
Good idea Steve...where's the booze !!!
My taxi driver told me yesterday that he is thinking of using his savings from his deposit for a new house to invest in bitcoin so that he can buy a house outright on the profits from it when he sells it in a few months
Mmm...
I already answered your question.
Let's leave this as agree to disagree, and end this one.
Cheers.
Maybe I have Steve .what do you mean and what is its relevance to Bitcoin
Please enlighten me ..sincerely .