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Comment by fabianfabian | Hacker News Reader

Because having bitcoins preserves value, you might see it as spending but it is actually saving. They can still choose to spend it on hiring people if they wanted.

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Just wait for the next dip, I'm gonna laugh my ass off...

Their BTC bet is already profitable to the tune of 1bln. Yeah BTC will crash at some point but still those who either manage to sell at good enough levels or have long enough time preference to hold til the next rally will make some serious profit.

And the market agrees with you! Spending $1.5 billion on Bitcoin during the middle of a massive speculative bubble is just the sort of responsible leadership investors want to see in these uncertain times. That's why Tesla's stock has been as rock-solid as Bitcoin since they announced their purchase.

The day when Satoshi left Bitcoin Project is going downhill. Bitcoin without Satoshi is like Apple without Steve Jobs. Without good leadership it is hard for anything to survive.

The price has gone up by several orders of magnitude, and Satoshi hardly provided much leadership beyond the original paper.

Is the price going up good?

It's the only thing it really has going for it.

>Satoshi hardly provided much leadership beyond the original paper

Except he designed and coded the whole thing and provided every day support for 2 years.

>The price has gone up by several orders of magnitude

Price of the Bitcoin doesn't mean anything if it is not used as cash as Satoshi intended. You don't receive your salary in Bitcoin and you don't shop with Bitcoin. Speaking of price even regulated assets like stocks are prone to hype and excessive speculation see Dot-com bubble [1]

[1] https://en.wikipedia.org/wiki/Dot-com_bubble

Social creations not always go like the creator wanted, that's how it works. Bitcoin is a whole movement that goes way beyond the btc protocol.

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