TSLA bitcoin purchase.

BKR88

BKR88

https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html

My prediction :-)
BTC.Elon.png
 
johnarb said:
and expects to start accepting the cryptocurrency as payment
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I remember the guy who bought a Lambo with Bitcoin. Because of the wild appreciation, that must have been the most expensive car to be purchased. Well, let's see:

"He caught the attention of the dealership though — and the internet — by cashing in 45 bitcoins to drive away with a $200,000 2015 Lamborghini Huracan with a white matte wrap and race exhaust features. Thanks to an early interest in cryptocurrencies, buying those 45 bitcoin cost Saddington less than $115."

Another way looking at the purchase is that 45 times 44K is almost 2 MM bucks so he easily overpaid by 900%.

And that is kids how I me.... I mean why cryptos are not good as currency. Beside the $20 transaction fee for ETH. (I used to like ETH)
 
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Stupid conclusion you drew there. The real point of the story is that the dealership accepted bitcoin. End of story. The guy who paid with bitcoin did not overpay by a single penny. He could have converted any desired amount of cash before or after the car purchase into bitcoin. And then you draw an even stupider conclusion. That is why bitcoin is not good as payment currency? I can name you a dozen reason why it is not good but none are related to this story.

Pekelo said:
I remember the guy who bought a Lambo with Bitcoin. because of the wild appreciation, that must have been the most expensive car to be purchased. Well, let's see:

"He caught the attention of the dealership though — and the internet — by cashing in 45 bitcoins to drive away with a $200,000 2015 Lamborghini Huracan with a white matte wrap and race exhaust features. Thanks to an early interest in cryptocurrencies, buying those 45 bitcoin cost Saddington less than $115."

Another way looking at the purchase is that 45 times 44K is almost 2 MM bucks so he easily overpaid by 900%.

And that is kids how I me.... I mean why cryptos are not good as currency. Beside the $20 transaction fee for ETH. (I used to like ETH)
More...
 
Pekelo said:
I remember the guy who bought a Lambo with Bitcoin. Because of the wild appreciation, that must have been the most expensive car to be purchased. Well, let's see:

"He caught the attention of the dealership though — and the internet — by cashing in 45 bitcoins to drive away with a $200,000 2015 Lamborghini Huracan with a white matte wrap and race exhaust features. Thanks to an early interest in cryptocurrencies, buying those 45 bitcoin cost Saddington less than $115."

Another way looking at the purchase is that 45 times 44K is almost 2 MM bucks so he easily overpaid by 900%.

And that is kids how I me.... I mean why cryptos are not good as currency. Beside the $20 transaction fee for ETH. (I used to like ETH)
More...

Based on this assumption, if your net worth is all in stocks and you want to buy a car for $100k, you had to sell stocks from your portfolio worth $100k to buy the car, then 3 months after you did, the stocks you sold rallied up by 50%, you also over-paid for the car by 50%, because essentially, you just traded your stocks for the car, only that the car dealer didn't take the stocks from you against the car, but it's the same transaction.

Everyone chooses where to store their wealth/net worth. If you think Bitcoin is so volatile as a store for your money, then simple, don't use it for that purpose.

Both the buyer and the seller agree on the medium of exchange, it's not a one way agreement only. If both the buyer and the seller agree that Bitcoin is the medium of exchange, then fine, no one over-paid or under-paid at the time of the transaction.

Imposing un-realistic scenarios after the fact doesn't prove anything regarding Bitcoin being fit for being a medium of exchange or not.
 
Pekelo said:
I remember the guy who bought a Lambo with Bitcoin. Because of the wild appreciation, that must have been the most expensive car to be purchased. Well, let's see:

"He caught the attention of the dealership though — and the internet — by cashing in 45 bitcoins to drive away with a $200,000 2015 Lamborghini Huracan with a white matte wrap and race exhaust features. Thanks to an early interest in cryptocurrencies, buying those 45 bitcoin cost Saddington less than $115."

Another way looking at the purchase is that 45 times 44K is almost 2 MM bucks so he easily overpaid by 900%.

And that is kids how I me.... I mean why cryptos are not good as currency. Beside the $20 transaction fee for ETH. (I used to like ETH)
More...

It’s gonna be fun watching heads explode when someone buys a Lambo w/doge.

In a day and age when DT can be prez and still have diehard supporters after inciting an insurrection anything is possible.
 
Note that in the year since the pandemic started, Elon Musk's personal net worth has increased by $100B on paper. That's $100 billion with a "B".

Also notice that no one on social media groups him in with the "bad people" like hedge fund managers, the Federal Reserve, Bezos, white CEOs, fossil fuel executives, etc.

His act is carefully constructed to ensure things stay that way - having Tesla accept "the currency of the little people" is all a part of this marketing ploy.
 
Completely agree, it is a pure marketing ploy. Just the professional version of the WSB kings of pump.

SteveM said:
Note that in the year since the pandemic started, Elon Musk's personal net worth has increased by $100B on paper. That's $100 billion with a "B".

Also notice that no one on social media groups him in with the "bad people" like hedge fund managers, the Federal Reserve, Bezos, white CEOs, fossil fuel executives, etc.

His act is carefully constructed to ensure things stay that way - having Tesla accept "the currency of the little people" is all a part of this marketing ploy.
More...
 
DiceAreCast said:
Stupid conclusion you drew there. The real point of the story is that the dealership accepted bitcoin. End of story. The guy who paid with bitcoin did not overpay by a single penny. He could have converted any desired amount of cash before or after the car purchase into bitcoin. And then you draw an even stupider conclusion. That is why bitcoin is not good as payment currency? I can name you a dozen reason why it is not good but none are related to this story.
More...

Sure, let’s see the criticisms and if there is anything new or just more broken record bleeping by a never-coiner.
 
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