Buying a Tesla with Bitcoin

[rollingdice]

Maybe it's to risky to assume that the Tesla will cost 1 Bitcoin in 2021. I'm not sure if Bitcoin will reach $50,000+ this year.

[Vishnu.Reang]

damn tesla is getting cheaper and cheaper as bitcoin price sky rockets . most of the btc hodlers can soon own them self one ( a tesla car )

How many Bitcoiners own more than 1 BTC? Rpietila once calculated that around 350,000 do so. The link can be found below:

https://bitcointalk.org/index.php?topic=316297.0

The calculation is around 6 years old and I strongly suspect that the numbers might have fallen further over the years. Even if we take the same figure, it means that only 0.005% of the world's population own more than 1 BTC.

[fullhdpixel]

damn tesla is getting cheaper and cheaper as bitcoin price sky rockets . most of the btc hodlers can soon own them self one ( a tesla car )

How many Bitcoiners own more than 1 BTC? Rpietila once calculated that around 350,000 do so. The link can be found below:

https://bitcointalk.org/index.php?topic=316297.0

The calculation is around 6 years old and I strongly suspect that the numbers might have fallen further over the years. Even if we take the same figure, it means that only 0.005% of the world's population own more than 1 BTC.

It is not about how many bitcoins do you have, it is more about how bitcoin became more and more expensive the longer we go, and that is why we are talking about tesla vs bitcoin pricing, tesla is not a bad car, you could have always bought some old used Hyundai car loooong ago, you can find cars under 5 thousand dollars if they are used enough.

However we are talking about one of the most advanced, electric, everyone loves, high tech, and brand new out of the factory car here, and having 1 bitcoin worth that much is important. This is not about lets all buy a tesla for one bitcoin, if we all sold our bitcoin and bought it, the bitcoin price would crash, it is more about comparison. Next stop is having the same market cap as gold, I want that to happen, obviously gold doesn't fall that easily, at least not that much, so in the long run we will have a hard time but I am sure we will reach it.

[doomistake]

Mass adaptation of Bitcoin will happen if we are going to spend our Bitcoin on smaller businesses that accepts Bitcoin as a payment, like online stores, grocery stores, supermarkets, etc... Buying a tesla would just make Elon Musk much richer but a good advertisement as well since he also promotes Bitcoin, but my opinion is that we must help the most needy first to achieve the cashless society that we all want.

[Kong Hey Pakboy]

Mass adaptation of Bitcoin will happen if we are going to spend our Bitcoin on smaller businesses that accepts Bitcoin as a payment, like online stores, grocery stores, supermarkets, etc... Buying a tesla would just make Elon Musk much richer but a good advertisement as well since he also promotes Bitcoin, but my opinion is that we must help the most needy first to achieve the cashless society that we all want.

Indeed. Inviting and encouraging small businesses to buy and accept bitcoin and other cryptocurrencies as a payment method would definitely help bitcoin's mass adoption, instead of purchasing a tesla that will not benefit most bitcoin users.  This will help every country become a cashless society that would also be useful during the pandemic of COVID-19 to avoid any physical contact.

[Sithara007]

Is purchasing a luxury car using Bitcoin a very good idea right now? All of us know that there is a very good chance that the Bitcoin prices may jump by a lot during 2021-22. If you spend all of your coin holdings for such luxury items, then you may regret after a couple of years. For cars, the net worth depreciates with time, which is exactly opposite to the case we have with Bitcoin.

[Dhoe]

But still not make any investor look crazy with bitcoin price, they still safety saving money in the bank and look not interested how increase price by bitcoin year by year, from the first at 2018 we need 8.5 BTC to buy Tesla but now just take 1 btc we can buy Tesla, so why crazy increasing bitcoin price not give impact for many investor and company wanna hold bitcoin and saving assets in cryptocurrency, what happen with them look dislike with bitcoin as best digital currency.

[el kaka22]

-snipped-

That is correct buying a car could either be a good investment or not. If you own a business or you use cars to go from one place to another for business purposes it could be a good investment. But buying one just to show-off and for fun or collection is not a wise move. My business professor at university used to tell us if you want to invest in cars make sure that you are buying one for business purposes, there are a lot of expenses in owning a car such as maintenance, gas, toll fees, etc. and if you are not using it to earn, the don't buy it.

Unfortunately the rental car services suddenly made even buying a car for business not really a smart move. After all you check having just one car and using that and you check rentals and check that and costs would be getting closer.

Now if you are a regular person who goes to work and comes home, like a 9-5 worker, you should try to find a way to use public transportation (well not in covid period lol) because that would be a lot cheaper, but let's assume that you bought a car so you can go to work and come home, and you could go around, basically just to make your life easier, sure that is not a good "investment" but also buying a ps5 is not an investment, buying netflix subscription is not investment, some things in life are not investment.

Yet if you are a business, and for your sales people and technical service on spot people etc etc, you need about 10 cars? Instead of buying them, renting them could be cheaper, between all the costs of cars, having 10 cars would be too much capital stuck with cars, while still paying a lot constantly to keep them running, whereas renting is none of that.

[bryant.coleman]

That is correct buying a car could either be a good investment or not. If you own a business or you use cars to go from one place to another for business purposes it could be a good investment. But buying one just to show-off and for fun or collection is not a wise move. My business professor at university used to tell us if you want to invest in cars make sure that you are buying one for business purposes, there are a lot of expenses in owning a car such as maintenance, gas, toll fees, etc. and if you are not using it to earn, the don't buy it.

Purchasing an automobile can never be an investment, unless you are purchasing antique pre-WW2 items. There is no luxury/sports car out there, which will not get depreciated as time progresses. And since that is the case, going by the default definition we can't classify them as any sort of investment. And BTW, having a Tesla is now like a status symbol. Forget about the investment. If you want to show off, then go for it.

[fahmimajannat]

It's very good for future. If people gradually starts depending on btc buying goods it will be very good for future world. Not even tesla if people can buy their daily necessary products it will make  peoples life more easier than before.
So It's very promising and futuristic.

[Vaskiy]

Buying a Tesla with bitcoin is no more a big deal. Years back itself expensive cars were bought with bitcoin. I don't remember the guy, he bought a home and with the excess amount left due to the unexpected price increase he bought a Lamborghini.

[finaleshot2016]

Since the current price of bitcoin right now is $40k then I think the price of Tesla right now would be 0.825 BTC.
As the price of BTC goes up, of course, Tesla will become less expensive for those who invested and tripled their money.

And besides, It's no big deal anymore if someone buys Tesla because many of the Youtubers are already getting it in just an instant. Elon is getting rich day by day.

Also, if you bought a car with bitcoin, after many years it'll only depreciate.

[hahay]

It seems easy to own a lot of bitcoins and of course those are successful people and in fact, when the bullrun occurs of course there will be lots of new billionaires. Therefore, those who have the desire to buy a car, house and or other things they can get from or from the increase in bitcoin and it cannot be denied because nowadays even those who don't even have 1btc, I think they can still own Tesla. at least less than 1btc and that's amazing because even in this 24h bitcoin price is already trading at $40,180.37 and maybe it will rally again.

[South Park]

damn tesla is getting cheaper and cheaper as bitcoin price sky rockets . most of the btc hodlers can soon own them self one ( a tesla car )

How many Bitcoiners own more than 1 BTC? Rpietila once calculated that around 350,000 do so. The link can be found below:

https://bitcointalk.org/index.php?topic=316297.0

The calculation is around 6 years old and I strongly suspect that the numbers might have fallen further over the years. Even if we take the same figure, it means that only 0.005% of the world's population own more than 1 BTC.

That number is definitely going down, many retail investors that bought their bitcoin when it was cheap are getting profits so high that it is almost impossible for them to resist the temptation to sell especially now that the pandemic has left so many people without their jobs and institutional investors are taking advantage of this by using their deep pockets to buy any coins that hits the market, and I think that at some point we will have to stop asking how many people are holding 1 BTC and instead ask how many are holding 0.1 BTC as the price keeps increasing.