Is There a New Dotcom Bubble?

Are the market capitalisations of "tech" companies like Uber, Tesla etc justified?

How is Tesla going to compete with all the German and Asian electric cars?

How is Uber going to deal with having to take on all its employees, which in many countries will no longer be classified as "self employed"?

 

I would certainly not buy Tesla stocks anymore.

 

For me it is revealing that Saudi investors jumped off the Tesla train when its valuation was like 4 times less than now

So there are individual investors that are banking on Tesla becoming:

- The world leader in electric vehicles (???). They did not hear about electric VW, Mercedes, Nissan etc etc?

- A float of "robotaxis" = Blade Runner science fiction. We are already in 2021 and I see no Blade Runner technology anywhere around!

 

In Europe as incentives makes anything else but electric cars impossible, there’s room for everyone. The biggest profits goes to the big guns with their cost management skills.

I think Volkswagen will be the winner...

Unless the repairs in warranty gets astronomical... Then they’ll have to hire in Musk and his spacecrafts

 

Lucid can do 520 miles on 1 charge. Blows Tesla away.

 

I think so too. A few friends just got their electric VW.

No Teslas in sight here yet. Teslas are quite expensive and the design is just poor, ugly.

 

Up here Tesla Model 3 was the bestselling car in all 2019 and then some...

On a side note Teslas are loud cars

The new Volkswagen ID cars are class leaders when it comes to comfortable noise level.

 

That's because Norwegians are rich hahaha.

In poor Spain there is not even that many places to recharge an electric vehicle. So my friends who are purchasing the electric VW do so because their companies have specific places for electric charge, but that's unusual...

 

Haha that’s so true

But there’s another reason as well so many people 7 years ago bought Tesla S when they really couldn’t afford one.

The desire to finally own a luxury car was too tempting when you could stop filling gas for €2 per litre

Park free and charge free at the same time, and no road fees to city centres.

And we pay around 40-50 % tax on new oil burners.

Now it’s another game

Only EV less than €50,000 is free tax.

Selling a 8-year-old Tesla S is becoming a big headache

 

Ohhh so it was all based on incentives! Now it makes sense!

 

Yes even every parking house in the city was free and with charging.

They could even drive in the bus line rush hour all the way until 2021!

A Tesla S with specs would cost new around the same as a Mercedes E220D for many years.

I can imagine a Tesla S would cost a lot more than an E220D in any other country!

Just checked, a new Nissan Qashqai costs the same as a new Tesla Model 3, around 40,000€.

I’d rather have the Tesla if I had to choose.

 

But then that's specific to Norway. Here a Tesla must be at least 3 times the price of a Nissan Qashqai.

Conclusion: any car can become popular if the government gives it pretty much for free or heavily subsidises it.

 

Did you guys see how SNAP lost over 25%?

Dotcom bubble 2.0.

 

Did you see how Tesla stock rocketed?

It's surreal

Let's remember a bit:

- Tesla climbed because that Musk said it would be possible to purchase cars with cryptocurrencies. Bubble + bubble.

- Now Hertz (that corpse of a company) wants to buy 100,000 Teslas... an almost defunct company purchasing thousands and thousands of cars... if this is not a huge speculative bubble tell me what it is...

 

Facebook is down 5% today.

 

This is misleading and not really true. Tesla has been rising month on month since around June 2019. Its market cap makes no sense whatsoever, but that’s the markets for you. There are loads of companies that have ridiculous valuations; that’s why some get shorted, but those that have tried to short Tesla have failed (so far), and after the GameStop short squeeze, a new precedent has been set. Stocks are not based on reality anymore; they are driven by psychology and public sentiment. Wall Street has been rinsing this system for years as part of a big boys club where they all pat each other on the back after making each other large sums of money. The fundamentals take a back seat to market psychology.

Bitcoin is the best investment of all time. In 11 years it has risen circa 75,555,555 x (at the current peak cycle). This represents one of the greatest redistribution’s of wealth that’s ever been seen, and it was created because of how destructive and out of control the current monetary system is. It surprises me how you’re so against Bitcoin and DeFi when you clearly despise central banks and the control they have over people. The misnomer that it isn’t green enough is also laughable because fiat currencies use astronomically more power. It’s not even close. However, you will never see any mainstream news articles talking about the traditional financial system’s carbon emissions. It’s hypocrisy of the highest order. Nearly all cryptocurrencies are now proof-of-stake, anyway.

A lot of wealthy people, and big financial institutions, are now using Bitcoin as a life raft against hyperinflation because of all the money printing governments have been doing. What’s even more absurd is that banks themselves now want to own it as well! I think there’s a case to be made that in the coming decades, blockchain will take over and the old systems will die. We can see by the adoption rate that this isn’t just going to go away. It’s the fastest adoption of a new technology in all recorded history, taking over from the internet (it’s twice the speed).

As far as adoption is concerned, Bitcoin had approximately the same number of users as the Internet in 1997. However, Bitcoin's mass adoption is growing at a faster rate when compared to the Internet. It is projected that in the next four years, Bitcoin will have around 1 billion users.

This chart is old but shows the growth curve:



This is the last decade of Bitcoin price action:



And some people still don’t understand it. Bitcoin is now comparable to the internet in 1997 and look how that turned out. People back then were saying it’s a fad and that it’ll never catch on, and the idea of e-commerce was laughable. Fast forward to now and the internet has changed the very fabric of our existence. Crypto will do the same, and it will fundamentally change the way people think about money, in my opinion.

 

It's definitely THE example of a ridiculous valuation

The only precision to that being that is not an investment at all, more of a gamble. And also de subproduct of central bankers neglecting their work and refusing to do their jobs.

Lagarde is talking today and I bet she will not say anything that has any sense for the economy. And she will refuse to raise interest rates because she is an incompetent. She's not even an economist!

Inflation in Spain is at 5,5%

US inflation at 5,4%

Eurozone inflation in 30 years highs...

The ECB is refusing to do its job!!!

 

I’d disagree with this. There were some very smart people looking to build the world’s safest bank around ten years ago, but they stopped after they discovered Bitcoin as it did everything they could have hoped for (no central control or manipulation, and immutable data). The technology behind some of the largest cryptos is ingenious and is very investible. The scope for what’s possible goes way beyond money.

One exciting area is how data can be better utilised. The potential here is huge. Problems relating to governance can be improved exponentially, and things like the supply chain industry will all change as well. Even our healthcare systems will benefit from blockchain technology because it can improve the way our medical data are stored and analysed. Advanced AI protocols are being built alongside these ecosystems as well, and they could make personalised healthcare more of a reality (that’s just one example of many). Our current systems are tired and outdated, so it’s good to see that we are on the cusp of a revolution.

Those are the reported figures; I think the reality is possibly a lot worse than that.

Janet Yellen wants to propose a tax on unrealised gains! This is what the world has come to. It is so broken that government officials now want to tax stuff that hasn’t even happened yet. It’s the most absurd thing I’ve ever heard; it is totalitarianism. It would crash everything if they did that. The only way to extract money from an asset that’s unrealised is to sell it. What happens if the market then tanks and financially ruins you? Do they think these things through or what? Crazy.

 

The technology that no one who purchases bitcoin understands... brilliant.

Janet Yellen, Lagarde, Powell, and all those idiots will propose anything but actually taxing those US tech billionaires who are ruining the world economy, and making the world worse and more unequal every day.

Yellen and her accomplices have been put there to ruin the middle class. Simple as that.

 

I wasn’t talking about Bitcoin in that instance, but those who are serious investors do the research.

There are already technological solutions to the financial problems you frequently talk about. Bankers and governments don’t like it because it represents a shift in the power dynamic. Whoever controls the money controls the power; that’s how it’s always been. Governments would rather keep the status quo even though the current monetary system is crumbling all around them.

If you did more research you’d see where I’m coming from. You can’t really argue against something that you don’t understand.

Some of the bankers are the biggest criminals out there.

 

My work colleague just bought a few different types of cryptocurrencies. The reason? Her 10 year old son recommended it

I cannot argue against that after hearing the new nonsense statements made today by Lagarde. That person is not prepared to run a fish and chips joint, and she's in charge of the ECB.

 

The boy has skills!

Web 3.0 will change business as we know it.

That’s why decentralised finance makes more sense to me. It’s a much fairer way of doing things. Why have people controlling and manipulating the supply whilst taking exorbitant amounts of money for doing so? They do it to retain power, but that doesn’t help the little people. Some of the worlds poorest people can be given identities, bank accounts, and a chance in life. It’s estimated that around 1.7b of the worlds population remains unbanked. Crypto can help fix that.



The hypocrisy. What happened to their claims of it being a Ponzi scheme (even though that never made any sense to begin with)? It’s funny to see what they write, and you can always tell in various comment sections who really understands what’s happening and who doesn’t. I’d say the general population currently have little to no understanding of it, and I suppose that’s just how it was with the internet in the mid nighties. Once the adoption curve starts to hit the mainstream everything will change.

 

I just think central bankers are refusing to do their jobs. They are just providing a never ending supply of cheap money to tech billionaires who do not pay taxes. Fair game huh?

And the general population, the 99% is left behind. It is not a failure of the current monetary system. It is the personal failure of central bankers, lobbied by tech billionaires.

 

We are heading towards a disaster unless someone can somehow right the ship. It is 100% a failure of the banking system and the people who manipulate and control the supply. Just take them out of the equation. Nations are creating debts for themselves (that they owe interest on) that will never be paid off. Who are they paying the interest to? They will tell you that it’s to the people/countries that are buying their made-up bonds (that they create out of thin air). But the countries buying the bonds are also broke. The whole situation is ridiculously absurd. Once they hit the debt ceiling they go, no problem, we’ll raise it. And on it goes.

I posted this ages ago; I think you should watch it if you didn’t previously as it’s brilliant.

Clarke and Dawe - European Debt Crisis

We are largely on the same page.

 

LOL, no one wants to research a f*cking currency they're paying for things with. What planet are you on?

I see this same rant on digital privacy forums so often that I would no longer believe that that was what I was looking at unless I saw a post to this effect. It always boils down to the same drawback; people do not have the time to invest in learning the details of every little thing they do. With computers, they just want them to work, they don't want to spend weeks studying the mechanisms of a Linux distro just so that they can check their emails and do online shopping without telemetry (the same things they were doing with practically zero learning curve on their MacBooks and Windows Laptops). And who can blame them, in an average day it's enough to fit in your work, maybe some study, cooking, washing, socialising etc. etc. Unless one foresees a guaranteed benefit for that kind of commitment, it's going to be an "I'll leave that to someone else" write off.

No one ever needed to research a piece of paper or metal that was given value by collective agreement.

Which is exactly why cryptocurrencies are never going to become mainstream or adopted for widespread use; no one trusts them but the people dedicating their time to learning about them (which is a negligible percentage of the western population).

We'll be living back in the wild west, trading rabbits for guns and ammo before "Bitcoin" and co. ever become established. Or living in some dystopian sh*t-hole with a validated digital currency tied to your social score, compliance level and hygiene rating (aka. number of sexy new vaccines you've had), because that's the fork in the road we find ourselves at right now.

And lack of trust (trust, being the foundation of a currency) is just one reason these "rogue values" are never going to be a thing. The second, far larger issue, is that Bitcoin (especially) has been around far too long; I remember conversations on forums about Bitcoin mining back when I was just starting out my exploration of the f*cked up underbelly of the internet as a new severe tinnitus sufferer with my life in suspended animation. People were making thousands just by running software off their computers and being early adopters. Now, anyone with an intelligence level above that of the average YouTube subscriber knows, that just like with stocks, once you've read about it in the news, you're too late to the party and the ship has sailed. If Bitcoin ever became established, we'd be making millionaires overnight out of thin air, and guess what... people don't like that.

A bit like when you read about that couple that won £42000000 on the lottery last Friday, are you happy for them? no, because that's not how humans work. Do the current validated currencies make millionaires out of some undeserving b@st@rds that can print as much money as they want to the detriment of everyone else? yes, but that's just slave mentality, because what does misery like?

And it's the same for currency; subject to psychology. Unless you can preach to the masses and address the two big f*cking elephants in the roomI've highlighted above, your cryptocurrencies aren't going anywhere.

This is just like our "vaccine" arguments @Ed209. You asked me once, how did Joe Rogan prove Ivermectin works? The reply I wanted to post: how did the "vaccines" prove they worked?

Answer: backing.

The mainstream media said they worked, thus, they worked.

It is exactly the same in this case. Get this, the MSM is owned by the same people who own the banks, and those people do not want to see a deviation from their monetary system; because that would cause a massive shift in power (which people in control don't like: read a history book if you don't believe me, any history book, it'll be there).

No, it will tank.

Just like I'm fighting a losing battle by trying to convince people they don't need the pharmaceutical industry to keep them alive, you're doing the same trying to convince people there's an alternative to storing their savings in a bank.

 

5 months and counting to repair a Tesla:

We waited months for Tesla to repair accident damage

 

There are two items on that sentence:

- The banking system, which could work fine

- The people who manipulate, this is, central bankers, who are responsible for the current troubles of the world economy.

 

I bow to your wisdom, @Damocles. However, I have no idea why you’re bringing the vaccine debate into this thread? That’s a totally separate discussion to what Juan and I are talking about.

You are 100% right. The vast majority of people do not understand how money works, and/or how it’s created or controlled. They literally have no clue. This is evident from the way people use credit and then get themselves into financial trouble. Credit card companies know this which is why they play on people’s ignorance so much. It should be taught in school.

This is an odd statement.

This is already happening . Visa, Mastercard, PayPal, and numerous other financial institutions, have been involved for a long time. You can spend cryptos anywhere (depending what country you live in). Even some of the major banks are involved. A friend of mine just bought a Mach 1 Mustang with crypto straight from the dealership, and he paid his mortgage off with it. I fill my car up and do all my food shopping using crypto. I'd be stupid not to. You get significantly better cashback rates than any other credit or debit cards on the planet. You also get proper interest for holding your money in a crypto account, unlike what the banks give you. I’m sorry, but your ignorance in this post is astounding, but it is not uncommon.

Why comment on something you don’t understand?

You seemed to be rambling in this post. It’s a fact that stocks are mainly driven by emotion and sentiment. That is what we were talking about. We were mainly having a discussion about central banks, but you somehow made it about vaccines?

 

I think you're wrong. Bitcoin/Krypto is already mainstream for some companies - which allow it for payment.

This is conspiracy theory - oh no - but, if the government teams up with corporations - to make it user friendly for all the simpletons out there, it can become mainstream one day.

Then they will, theoretically, outlaw all other digital coins.

People would have never believed drugs being legalized/decriminalized.

 

I didn't bring the "vaccine" debate into this thread. I mentioned "vaccines" for the purpose of drawing a comparison between the faith placed in them and established currencies, and how that faith is achieved.

If I had used: who was the better despot, Mao Zedong or Kim Jong-il and why? You wouldn't be getting your knickers in a twist, would you; but then the only discussion I've ever had with you before this was on "vaccines", and it's an on trend topic; so just overall more relatable, no?

If that is an "odd statement" to you, then you shouldn't even be handling money, in my opinion. It is the most basic fundamental that has governed all trade since trades inception.

Just based on this odd statement about an "odd statement", if I were you, I'd lay off the crypto for a while, and maybe learn to walk before I could run.

LOL! monumental exaggeration. There is no country in the world you can "spend cryptos anywhere", I can assure you. Except for El Salvador; a country where 70% of the population doesn't even own a bank account (that's an endorsement...).

HA HA! yeah... and I'm sure that dealership paid the supplier in "crypto" too...

I mean seriously, this is like saying dating scams aren't scams because so many people get caught out by them.

BREAKING NEWS: there are people with more money than sense. All you have to do is look at insolvency statistics to know that.

If all the shops on my local high street start accepting Monopoly notes as currency tomorrow, then I'm going to fish out my old board and have a ball! Then we can enjoy a cold bottle of Cristal Vintage (at no cost to us) while those same shops file for bankruptcy, along with that dealership that sold your friend the Mustang. ( ͡° ͜ʖ ͡°)

@Ed209, you don't need to learn esperanto to know it's never going to be worth learning. Do me a favour and think about that for a while.

Covered this.

Love those royal WEs btw. I feel so dejected. ( ཀ ʖ̯ ཀ)