Is Incorporating BTC the way forward for most companies? - page 2.

meetthechallenge

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Quote from: elda34b on May 05, 2021, 06:07:18 AM

They're just here for money. When the bear market hit they'll stop promoting it, then buy it again on the next wave and encourage retails to spend their money for them. That's the cycle, it's how they play the game.

Hopefully this game being played does not deter people from seeing the real utility behind bitcoin. It's unfortunate that some willing parties will be turned away after getting duped by the cash grab.

hulla

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It wrong to say Tesla sold 10% of their Bitcoin holding cause it impossible for the public to know the total amount of Bitcoin Tesla is holding because Tesla now accept Bitcoin as payment which serves as a way for them to increase their holding and the last time I check, we can only know their initial Bitcoin accumulation before they accept Bitcoin as payment.

Shasha80

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Quote from: Nickbryan10 on May 04, 2021, 06:48:17 AM

Tesla’s first quarter earnings report released on Monday showed that the company sold off 10 per cent of its Bitcoin holdings. It made $272m in proceeds and $101m in profit from Bitcoin.

The car maker made more money from Bitcoin than car sales. Tesla’s profits hit $438m with nearly a quarter of that earning coming in Bitcoin sale.- "punch"

Tesla can be a role model for other big companies to invest in Bitcoin, because Tesla proved that investing in Bitcoin is very profitable.
I am sure that the earnings report released by Tesla will certainly attract many other companies. I believe in the near future there will be
several other companies following in Tesla's footsteps, so we will see the price of Bitcoin can jump very high if there are indeed several
other large companies investing in Bitcoin.

CaVO32

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Quote from: jerrison on May 05, 2021, 06:25:06 PM

I am stil wondering why loads of companies will be delaying in terms of addding crypto to their paymetn structure, i understand that the space is volatile and all of that but if they so not want to pay in assets like bitcoin then they can either adopt a project or tokenize their project so as to pay people in the native currency.

Maybe most of them don't know yet how to deal with crypto, bitcoin in particular. Because for new users, it is not easy to get oriented with crypto and some of them don't have time to understand what it is needed to utilize crypto in their payment method. But I am guessing, some of them are already looking into this option, now that crypto or bitcoin is somehow getting attention to top companies. They need time to fully integrate crypto in their payment system.

jerrison

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I am stil wondering why loads of companies will be delaying in terms of addding crypto to their paymetn structure, i understand that the space is volatile and all of that but if they so not want to pay in assets like bitcoin then they can either adopt a project or tokenize their project so as to pay people in the native currency.

dikistutmazsabri

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It is a very nice and beneficial behavior for big companies to accept and invest in bitcoin. The reason is that big companies investing in a digital currency such as bitcoin or accepting it as a payment method ensures that bitcoin has started to gain a place in the world, be recognized by more people and its value increases. In fact, big companies should invest in blockchain technology rather than bitcoin. because this infrastructure can work for everyone.

Kamarah

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We cannot deny the benefits that block chain brings. It helps a lot of companies to manage their data, records and books very well. Investors and managers have entered the world of crypto. And companies gradually accept Bitcoin payments and investments. You can buy a car and pay with Bitcoin.

NelfiNovita

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actually very profitable for companies that store bitcoin because they will benefit very much from bitcoin. at this time we can see an example of a company that has taken advantage of bitcoin, namely the Tesla company, recently they have taken 10% profit from the bitcoin they have, they are very lucky because they have bought bitcoin.
if other companies also buy bitcoin they will definitely benefit like the Tesla company, besides that the price of bitcoin will also be even more expensive because of the very large purchases of bitcoin on the crypto market.

mr_ROBOTT

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Quote from: Nickbryan10 on May 04, 2021, 06:48:17 AM

Tesla’s first quarter earnings report released on Monday showed that the company sold off 10 per cent of its Bitcoin holdings. It made $272m in proceeds and $101m in profit from Bitcoin.

The car maker made more money from Bitcoin than car sales. Tesla’s profits hit $438m with nearly a quarter of that earning coming in Bitcoin sale.- "punch"

We have already talked about this in this post, I hope it will be useful for you:
https://bitcointalksearch.org/topic/m.56879463
It was exciting for me personally that a big company like Tesla entered the world of bitcoin, but after the sale of bitcoin by this company, I came to the interesting point that this company and most large companies are only looking for personal profit from bitcoin and what if we did not return to the previous trend after selling this volume of bitcoins?

kojektea

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Quote from: Nickbryan10 on May 04, 2021, 06:48:17 AM

Tesla’s first quarter earnings report released on Monday showed that the company sold off 10 per cent of its Bitcoin holdings. It made $272m in proceeds and $101m in profit from Bitcoin.

The car maker made more money from Bitcoin than car sales. Tesla’s profits hit $438m with nearly a quarter of that earning coming in Bitcoin sale.- "punch"

Elon Musk has a huge influence on bitcoin it is very natural that in the future technology-based companies will soon follow in Elon Musk footsteps, It's simple they will surely also know how potential a bitcoin is today, We will certainly see bitcoin much loved by many companies in the next few years.

Kabul

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No necessary. More than 90% of companies do not incorporate bitcoin. They do not see any benefit from integrating bitcoin in their network. On the other hand, Tesla just seize the opportunity and make a quick profit from buying then selling bitcoin. I just want them to focus on producing more car that can change the world. Crypto will reshape the Internet while Tesla make a revolution in the real life

cr1776

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Quote from: big kid on May 05, 2021, 05:48:07 AM

Well it's a good way but not all companies need it. I think small companies should considers supporting sales with altcoins. At least now i see that as inevitable way of progress.

Most of the alts are just get rich quick schemes for some people without the security bought by the market value of bitcoin. There are a few that have a purpose, but aren't as distributed and don't have the security. I can at least understand why someone might use some of them. Small companies should do the same thing as big ones: whatever is best for the owners/shareholders.

Darker45

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Tesla incorporated Bitcoin in their company when it started accepting Bitcoin as payment. However, I don't think its sales have significantly increased, if at all, only because they opened such option to their clients. I don't even think they have sold more than a handful of units using Bitcoin as payment.

It was a wise decision because the company has some extra cash laying around. That cash was unproductive, depreciating even. It was better for that cash to be providing passive ROI and Bitcoin was the best option. But what made it a wiser decision was that Tesla was a very influential company that deciding to buy Bitcoin was interpreted as a very bullish signal. For a lot, it was definitely a cue to buy. That propelled the price very quickly.

kryptqnick

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I think it means companies can get a boost with their Bitcoin investments, and then they'd have more resources to manufacture cars or do whatever they specialize in. But it should be kept in mind that Bitcoin is profitable temporarily, and it can always go down. So companies shouldn't go all-in with Bitcoin because this can end badly for them.
I also want to point out that investing in Bitcoin isn't exactly incorporating it IMO because it's not like Bitcoin becomes an integral part of anything the company does. Accepting Bitcoin as payment for their products or allowing employees to be paid in BTC are bigger steps than simply buying BTC and then selling it when the price is higher.

dkbit98

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Sure, Tesla and few other companies purchased Bitcoin and everything is nice and happy when Bitcoin is going up in this bullrun but what happens during the bear market when bitcoin price goes down?
Anyone who is in crypto market for few year or longer knows that everyone will start to trashtalk Bitcoin, fud and call it dead again, but that is perfect time for companies to invest and buy more BTC.
I don't expect many companies will decide to buy BTC now but they can still decide to accept it as payment option that will help better adoption, and wait for dips to buy it.

TastyChillySauce00

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Depends, by incorporating BTC you could open up to a whole new userbase while also make huge profit from it but doesn't necessarily mean a company should incorporate it to go forward and i'm pretty sure not all company could take the risk of investing in BTC because it could potentially mess up with their company economy since as we all know crypto is high risk high return but a technology company should definitely incorporate it. Investment wise, it's still worrying but technology wise, cryptocurrency is really good for the company.

cryptomaniac_xxx

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At least you should have posted your source, because this is a blatant copy and paste, against the forum rule, and this is a ban-able offense:

Source: https://punchng.com/tesla-makes-more-profit-from-bitcoin-than-car-sales/

Quote

Tesla’s first quarter earnings report released on Monday showed that the company sold off 10 per cent of its Bitcoin holdings. It made $272m in proceeds and $101m in profit from Bitcoin.

The car maker made more money from Bitcoin than car sales. Tesla’s profits hit $438m with nearly a quarter of that earning coming in Bitcoin sale.

elda34b

sr. member

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They're just here for money. When the bear market hit they'll stop promoting it, then buy it again on the next wave and encourage retails to spend their money for them. That's the cycle, it's how they play the game.

big kid

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Well it's a good way but not all companies need it. I think small companies should considers supporting sales with altcoins. At least now i see that as inevitable way of progress.

dark1234

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companies that actually use cryptocurrency technology are still not fully used, while as it is said, they are only still within the investment limit, not the open use of digitalized money in the company's system

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