Bitcoin Forum

Asking the few people who has BTC to spare and buy a Tesla.

https://i.ibb.co/yBrJbBK/Untitled.png
source (https://twitter.com/elonmusk/status/1347958527411724291)

Nothing wrong with spending it I guess but let him buy more from the market. He and his company got plenty of fiat to convert to BTC anyway.

This is purely depends on us BTC is something which gives you a millionaire opportunity if you are all set for that then obviously we want to live a lavish life right?

Also how long will a person keep on holding till ages? Everyone's vision is to live a rich and luxury life you need a car, house & lot of stuff if his/ her dream car is Tesla then they will surely go for that. See holdings only works for those who are planning for long-term, so go ahead.

Elon Musk getting involved is a double edged sword for me.

Good that he is raising awareness about Bitcoin.

Bad that he got a rap from the US SEC for Tesla price manipulation - the same US SEC that is putting off approving a Bitcoin ETF* because of potential price manipulation.

I bet the US SECs ears prick up when Musk says this sort of thing.



*I am personally interested in a Bitcoin ETF so if I need to sell my immediate Bitcoin for emergency cash, I could top up in my retirement fund with a bitcoin proxy such as an ETF.

actually for me, this must be seen in terms of the benefits of Tesla based on the environment in which they live. because not all are suitable for us here. Moreover, where I live, which is located quite far from the city and still not reached by car facilities. and of course in my country no one has a Tesla yet. in fact the price of Tesla is much more expensive than the house we live in. and it will sound very funny :)

So personally the bottom line comes back to the benefits, if only for the lifestyle, maybe we don't deserve a Tesla yet.

Buying a liability instead of holding Bitcoin? I don't think that's a move a financially educated person would do. At least not if the BTC he is selling for the car is a significant part of his net worth, but I agree. There are some people who would liquidate everything just to own the car they dreamed about in their childhood.

yep getting a car is like getting another son to support especially in our country when you spend more then $5k to buy an old beater that been on the road for 20years that was sold for far less money brand new twenty years ago and not to mention their maintenance cost and insurance gas etc.

And no I wouldn't give my btc for a tesla especially for the time being.

What I imagine that would happen is more activity and BTC being exchanged. This must be something that happens whenever a sought after service announces that they will start accepting BTC as a way of paying. It would be good for BTC but I'm not too sure if Tesla shareholders would like the idea ...

Just out of curiosity, why do you think it would be a negative move for Tesla share holders?

Not negative per se, but I don't know that they would promptly accept having BTC as a way of money into their company due to how it fluctuates from time to time. I do see it in the long run but atm where they reinvest every possible profit into R&D and expansion, they would much prefer continue with fiat. Of course it's an opinion, willing to discuss with others...

Tesla is really good but BTC is much better  ;D If I don't mistake the BTC market cap is about 600 billion and Tesla is more than $800B. It means that BTC is coming for Tesla and the run Bitcoin shows us is really crazy. I would prefer to keep my BTC for a few more years and then I will give my BTC to get Tesla on Mars  8)

I imagine there might be a domino effect on your average retail Tesla shareholders.

This is because the institutional holders of Tesla might think this is too risky considering the potentially already overheated price of Tesla, and rebalance their funds by dumping some Tesla and tanking the price. Baillie Gifford in the UK for example.

However, on the other side of the coin, there are now Blockchain related funds that actively hold companies such as Microstrategy (e.g. Invesco Elwood) simply because they have bitcoin on their balance sheet.

For me, speculating on how the institutions play crypto is my next big thing, and a way of hedging volatility.

For now we can't just buy tesla car on that expensive price, maybe we could wait for its saturated value. Let those rich guys enjoy the demand of this car, because for me it's considered to be luxurious car in this generation. Spending your btc is worth for needed things, but it's not wise investment if you're going to purchase for luxury things. Business is certain strategy for earning passive income from your converted btc.

No way, I don't need a car, especially one of Elon's luxury status symbol cars. And I only like the idea of paying with BTC if the merchant actually receives it to their wallet and not using some intermediary service.

As for the tweet, this is just an example of FOMO. When this bubble will start popping, people will be saying "I'm glad I didn't buy Bitcoin", even if the price will end up higher than the last ATH.

Is a Tesla Car a better investment than Bitcoin? I'd answer no really, so yea I wouldn't (If I had that much anw). Plus, I don't particularly like cars myself, if I were to ask to choose then I'd rather get myself a motorcycle instead of a car. Heck if I had that much money, I'd rather invest more in Bitcoin and then invest here and there than buy a Tesla car.

I don't think you'd even need the Tesla EVEN if you had a luxurious life already. Not to mention that 1 Bitcoin afaik can only buy around the cheapest (around there) version of the Tesla series. Not that I'm talking bad about it, but hey, if you're going to buy it, might as well go all the way and buy the best no?

No. I wouldn't buy a Tesla car in exchange for my BTC because it has more value to me than a luxury car. People should be practical about spending their money and bitcoin because it is unnecessary to buy expensive things. After all, they all have the same purpose and usage, so it is much better to buy a regular car than a luxurious sports car.

There are a lot of people in the world, and of course they themselves choose what to spend their bitcoins on. Yes, the price of Tesla cars is high, but for the rich they do it.

A Tesla car today is something luxurious and valuable. but over time, its value will decrease. besides that there will be maintenance costs, fuel, and taxes. I'd rather keep my btc on the wallet, rather than give it to elon musk even for a tesla.

Not at all! I am not gonna sell my asset for liability. The car can provide me with services for a span of few years only but BTC is going to be there till I want.

No.  Not right now.  Maybe in another order of magnitude or two it will be close to a fiat <-> bitcoin stabilization point.  

One is an asset, one is something that immediately depreciates.

:) Do you really think his wealth can affect the price of Bitcoin as he buys more portion of the coin? I just imagined that.
To buying Tesla car with my btc, I would rather prefer to hold my bitcoin for so long while the Tesla car fades away over time while I wait for new cars to come with my huge accumulated bitcoin.

You need to consider the future worth of the two assets. The Tesla car like any other will eventually depreciate in value over time, this is more likely not the case with BTC which is likely to go up by an uncertain amount in the same amount of time.
So, would I give my 0.0001BTC for a Tesla now-hell, yeah. But will I change my mind if I was to pay >1.5BTC? You bet  ;D

Why the heck not? Buying a top class product using a popular payment method like BTC which the world's richest man openly supports should be an easy decision if you ask me.

This benefits everyone basically. You acquire a great car and help improve BTC adoption along with Elon. However, any extra fees shouldn't be levied on cryptocurrency transactions (Excluding blockchain fees) in order to compete with FIAT deals.

For sure bitcoin is a better investment than a Tesla but I guess there is no problem if you have a bitcoin that you want to spend on since bitcoin was a digital currency and it was made as a currency to buy something if you can afford it you could buy it.

People just go for investment because it was just better for investment at this moment and not really as a currency that you could spend but there is nothing wrong if you want to spend it the only point is you gonna lose your profit when suddenly bitcoin increases its price for example up to a 100k$.

In my opinion, it would make sense just to use fiat than bitcoin in buying this tesla  ;D to avoid regrets in the end when bitcoin is on the moon again.

Cars depreciate over time. Its value will totally decrease yearly that's why even it is a luxury car, it can't skip depreciation once it's out in the market and streets. But if I've got a lot of bitcoin or I can spend a portion of my bitcoin buying a car and I can truly afford it, why not taste how to drive one? That's why we're holding and investing, to see the results of our patience and use the profit for whatever we want to. Like what I've said, if I can afford to and I still get to hold bitcoin after purchasing it.

If I have some bitcoin to spare and wouldn't largely affect my portfolio, I won't have a doubt buying a tesla car using bitcoin. Having a technology-driven car that came from a bitcoin believer company would make me very satisfied with my purchase. Personally, I like cars, and aside from JDM cars, One of my dreams is to have a tesla made car. Elon knows bitcoin is the future and I am too, A spare amount of bitcoin isn't that bad in achieving one of your dreams.

Is this actually advertising to tesla !! ??  :)
the tangible asset for which bitcoin is exchanged does not matter, it matters is bitcoin.
In reality it is also about individuals and their needs, sometimes situations are looked at from individual perspectives and we limit the context for the future.

If someone can buy a tesla, he needs it, he likes me to buy it ... the only important thing is that he should surely has a Ferrari in his house, which will cost less than that tesla in the future.

Personally I have not such an attitude to Bitcoin like something untouchable. We earn and try to multiple our assets for our enjoy, development, better conditions of life, opening business or whatever. In case someone just hold and do not wisely spend assets has such a risk to die someday and even do not enjoy his or her richness))) like Scroudge from well-known story)))  in this case there is just subjective attitude and that is all. What does it matter Elon it will be or not Elon in case I would like to enjoy my wellness and buy something that I want)))

I think it's impressive that Tesla becomes more and more affordable and that Musk is somewhat pro-Bitcoin. However, the prices can be significantly higher outside the US and EU due to heavy taxation, making the cars less affordable to people in third-world countries which can already afford less than people in developed countries because of the weak national economy. And if Musk accepts payments in BTC, it doesn't unfortunately mean that any company which actually sells Teslas to customers will.
I think Tesla is the only car to have, but I guess I wouldn't buy even Tesla (even if I had enough BTC, and I don't) because I'm against cars.