How Bitcoin is Like Telsa

What is Bitcoin Good for?  > How Bitcoin is Like Tesla

Tesla was built with early adopters who saw past certain drawbacks

 

1) Early Adopters: Telsa

Prior to Tesla, if you had pitched the idea of starting an electric car to an investor, you would likely have face skepticism:

  • How are you going to sell a car that has a maximum range of 100 miles?
  • How are you going to sell such a car that costs $100,000.

Elon must found a way to work around these limitations:

  • Make a sports car that has superior acceleration.
  • Sell this car to early adopters who are willing to pay $100,000 and don’t mind the range limitation.
  • Bring price and range down with more volume and research.

 

2) Early Adopters: Bitcoin

The way Bitcoin attracted early adopters was not 0-60 acceleration, but financial returns.

True, critics will see the volatility.  But what the enthusiasts see is that those who have held Bitcoin over a 4-year cycle, have seen vastly superior returns.

 

3) Still Useful to Early Adopters

Just as it was true that Telsa did not have enough range for a 10 hour trip to your parents, Bitcoin is too volatile for daily purchases.

But that doesn’t mean that it doesn’t have value and can’t eventually fill that role.

 

Why The Yuppie Elite Dismiss Bitcoin  (audio version)