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.