Author’s Note: I do not own Bitcoin or any cryptocurrencies nor do I own an EV. I do own Au, AG, and two diesel vehicles.
Bitcoin: The currency with a limit as to how many can be mined, but effectively no limit on how many times it can be subdivided
Cryptocurrency: Electronic currency that has no limit to the numbers and varieties that can be produced.
Tesla: The first EV to be successfully mass-marketed for the general population.
I’ll be honest. I have BTC fatigue. I’ll add to that Tesla fatigue as well.
It turns out BTC and Tesla have a lot in common. Both provide transportation. BTC for purchasing power and Tesla for people.
But beyond that, they are subject to competition from others. And that competition will continue coming until BTC and Tesla are, for the lack of a better term, has-beens.
Much is made about BTC and the limit to the number of units that will be mined. But does that really matter? Will it make a difference to the market that it will be a “limited” production?
Experience says no. We have had limited editions of all sorts of vehicles in our lives. Where are they today?
For those that like Cryptocurrencies, BTC will be replaced by one with more availability that appeals to the masses. BTC is already being replaced on the fringes of the crypto market.
Tesla is in the same boat. There were waiting lists to acquire a Tesla. Demand is still there. But nearly every automaker in existence when Tesla hit the markets now has EV offerings of their own. And some of these vehicles are arguably much better than a Tesla.
Then there are the new EV companies that appeared to compete as well. More will be coming in the future.
Ironically, the EV market is based on some gross lies. Calling an EV a zero-emissions vehicle is a lie. The production of an EV produces emissions in manufacturing, transport to the customer, and in most cases during the production of the electricity used to charge it.
The Cryptocurrency sector is also based on some falsehoods. It is not leading a green energy revolution. Instead, it is raising the costs of energy for all doing needless computer algorithms. It is also claimed that it is a “store of value”. But if you lose access to your storage for BTC, that value is gone. Not just for you, but anyone. It just no longer exists.
Think about that.