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Author Topic: Spending bitcoins on a car. Car depreciate while Bitcoin appreciates.  (Read 226 times)
bitgolden
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January 27, 2019, 07:18:00 PM
 #21

Depends on what you use the car for. If you are going to use that car for something that will either save you money or save you time or even help you earn money than there is no point of keeping it in bitcoin.

Assume a person buys a brand new car with all the important stuff and uses it to UBER people around in USA somewhere expensive like New York or something, that person used the bitcoin to buy a business to himself, not a huge business but he both has a car that pays itself and pays the owner income and also costs nothing because fuel is basically paid by the customers. Hence there is really no reason not to buy that car with bitcoin since it would be a wise decision.

Nonetheless, if you are going to buy a car and park it and not use it than yeah its a bad investment.


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January 27, 2019, 08:06:14 PM
 #22

You don't have to buy car if you don't want to lose money due to bitcoin is volatile. If you really need a car then why not buy car. The car may be depreciate as time goes by but it's not an investment where you buy a car and you earn money.

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January 27, 2019, 08:13:39 PM
 #23

There's a difference between buying your daily commuter and buying a 100k USD swag car. Sure, all cars lose value over time, but this loss is the greatest when you buy a new one. A 5 year old city car, like a VW golf, won't cost you a lot and won't lose a lot each year, but will get you from one place to another pretty fast and pretty cheap.
It all depends on your preferences and such. I wouldn't spend my coins on a car because I don't need it. I have an old one that still works and I don't need the swag.

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January 27, 2019, 08:18:16 PM
 #24

U go to buy a car with bitcoins but to find out ur car depreciate in 3 years. While holding onto bitcoins the value of ur bitcoins appreciate. Just a speculation. Taking risk at an extreme. Trading ur bitcoins for a car. Hah . But Bitcoin doesn't always sky rocket in value every 3 years. Or does it.
Comparing these 2 concepts makes no sense.The machine is needed for movement and Bitcoin for investment.Do not forget also that someone bought a bitcoin for $ 10,000. And if we compare with today's price, can we say that bitcoin has aged?

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January 27, 2019, 08:48:14 PM
 #25

Comparing these 2 concepts makes no sense.The machine is needed for movement and Bitcoin for investment.Do not forget also that someone bought a bitcoin for $ 10,000. And if we compare with today's price, can we say that bitcoin has aged?
It's the same as buying pizza for bitcoin which is cost a lot money even though the price of bitcoin is base on the present price but still it cost a lots of money which is true. I also confused why the OP compare the car to the bitcoin.

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January 27, 2019, 08:54:31 PM
 #26

if you think of it like a pizza seller, at that time BTTC was not worth it, and now it's soaring, of course it's fortunate to be on the seller's side
I think you mean the pizza buyer, and that's the first thing I thought of when I read OP's (very poorly-written) post.

I'd only buy a car with cash, and only a used one.  Buying new cars is only for people who have enough money to not care about how much a vehicle depreciates once it rolls off the lot, and I'm not--and never have been--one of those fortunate folks. 

That's why you have to buy a really cheap "second hand" car.Buying a brand new and expensive car with bitcoin is madness. Grin
Just use fiat money for such purchases.
Exactly.  Some people really love cars, and I can understand that but it's definitely not my thing.  I suppose if I absolutely had to buy a car and only had bitcoin, I'd do it.  Otherwise, as I've always said I view bitcoin more as an investment than a currency.  I would hate to be that guy who bought the pizza for 10,000BTC looking back at the purchase 10 years later.  Ugh.

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January 27, 2019, 08:54:36 PM
 #27

To be honest, so you can compare to infinity, it does not make sense. If you consider Bitcoin as an investment, then yes, there is no need to buy a "car". If it is just like a currency for payment, then this is good.
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January 27, 2019, 09:06:36 PM
 #28

U go to buy a car with bitcoins but to find out ur car depreciate in 3 years. While holding onto bitcoins the value of ur bitcoins appreciate. Just a speculation. Taking risk at an extreme. Trading ur bitcoins for a car. Hah . But Bitcoin doesn't always sky rocket in value every 3 years. Or does it.
Any logic here? If you want to buy car, you pay bitcoins but in value of usd. So as you say if you buy car, then you lose potential of huge money in future. With that logic, don't buy food because if you buy one buritto at the moment, save and you'll be able to buy 3 in future. Out of logic, you have to spend money on needs and save extra (if you have). That saved money you can put in cryptocurrencies and hold them or do whatever you want.

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January 27, 2019, 09:12:12 PM
 #29

U go to buy a car with bitcoins but to find out ur car depreciate in 3 years. While holding onto bitcoins the value of ur bitcoins appreciate. Just a speculation. Taking risk at an extreme. Trading ur bitcoins for a car. Hah . But Bitcoin doesn't always sky rocket in value every 3 years. Or does it.

It is your choice if ever you will use bitcoin to buy something. Do not hesitatw if it is a good investment. It is better to use bitcoin to buy a car rather than to buy a pizza, right? Just don't compare the price once bitcoin price goes higher in the future.
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January 27, 2019, 09:20:53 PM
 #30

U go to buy a car with bitcoins but to find out ur car depreciate in 3 years. While holding onto bitcoins the value of ur bitcoins appreciate. Just a speculation. Taking risk at an extreme. Trading ur bitcoins for a car. Hah . But Bitcoin doesn't always sky rocket in value every 3 years. Or does it.

While Bitcoin may sky rocker or may not, a car is losing value for sure at the moment you take it out of the shop. This is why a car is considered being a liability, instead of being an asset. Also, bitcoin doesn't require insurance, new tires or oil in those 3 years.
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January 27, 2019, 09:49:26 PM
 #31

Bitcoins are designed to be used for buying stuff rather than a speculative form of investment. If someone is able to buy a car using bitcoins then he or she has done what satoshi has created it for

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January 27, 2019, 11:14:05 PM
 #32

but the problem is, in bitcoin we don't know how much the price has dropped to what percentage and in how fast it is because we know the crypto decline is very fast if we compare it between 1 year ago and right now. However its only luck if we can see price increases in time we expect.
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January 27, 2019, 11:20:52 PM
 #33

If you have Bitcoins to spend, and you do not have a car, or you really need new car, but you do not have fiat. I think that is good trade, because otherwise you could not afford that car.
Right now could be bad timing for that because crypto market is nearing bottom, but consolidation period and bear market could be longer then you can be without that car.
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January 28, 2019, 12:43:25 PM
 #34

We couldn't say the absolute. Cars depreciate in value while bitcoins go up or down. With a car there is no doubt about it and you might be losing within 3 years as you have said but bitcoin can give you the chances, you can probably earn a lot or may lose more than what you could be losing with a car investment. But if you really had the best inputs about bitcoin status, you might just earn with greater possibilities than a car 3 years after. There is a lot to learn about trading bitcoin that could give us the opportunity to get rich and this is what most people should know.

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January 29, 2019, 08:48:32 AM
 #35

U go to buy a car with bitcoins but to find out ur car depreciate in 3 years. While holding onto bitcoins the value of ur bitcoins appreciate. Just a speculation. Taking risk at an extreme. Trading ur bitcoins for a car. Hah . But Bitcoin doesn't always sky rocket in value every 3 years. Or does it.

You have a point right here, but you should remember that human lives depreciate as well. We cannot hodl our crypto for a finite period of time. We have somehow to invest and create some value for our lives that will make it a better environment and easier our daily activities.

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January 29, 2019, 09:26:41 AM
 #36

The question was asked - when Bitcoin was at the peak of its price. I think now, many regret that they did not sell bitcoins and did not buy a car. Roll Eyes
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January 29, 2019, 10:25:48 AM
 #37

You need to spend for your happiness and dream. If bitcoin is the way to reach that dream car you've been dreaming of for years since when you are a child, it's okay to spend it.

I'll definitely use my bitcoins on held to buy a car soon as long as the market goes on high again. I'll use it for convenient transportation and convenience has its price remember that and at the same time, I'll use it for business.

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January 29, 2019, 11:06:58 AM
 #38

With car you can say promising that the value will depreciate with time. When it comes to bitcoin it isn't that assured. The value might move forward or else it'll go downwards. User need to be prepared enough take risk. When we make a comparison with car I remember an news. When the price was at the peak one bought a house with bitcoin finding the right person. When the agreement of buying was made tbge price was low and when it grew the settlement took place. This gave a big profit to the buyer and with the excess he bought a car. In this way investing on bitcoin might lead to buy big or nothing in no time.




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January 29, 2019, 12:38:25 PM
 #39

U go to buy a car with bitcoins but to find out ur car depreciate in 3 years. While holding onto bitcoins the value of ur bitcoins appreciate. Just a speculation. Taking risk at an extreme. Trading ur bitcoins for a car. Hah . But Bitcoin doesn't always sky rocket in value every 3 years. Or does it.

I think it's a bad comparison, maybe other's can consider buying a car a form of investment on his/her side, so it doesn't make sense to look back if ever the price skyrocketed in the next 3 years or so.

As for the pizza guy, he already stated the he doesn't regret buying pizza with 10,000 BTC.

Quote
Cointelegraph: You probably get asked this question a lot, but I have to ask. Since 10,000 Bitcoin is worth around 80 million dollars today, do you ever regret paying 10,000 BTC for two pizzas?

LH: You know, I don't regret it. I think that it's great that I got to be part of the early history of Bitcoin in that way, and people know about the pizza and it's an interesting story because everybody can kind of relate to that and be [like] - "Oh my God, you spent all of that money!" I was also kind of giving people tech support on the forums and I ported Bitcoin to MacOS, and you know, some other things - fix bugs and whatnot, and I've always kind of just wanted people to use Bitcoin and buying the pizza was one way to do that. I didn't think it would get as popular as it has, but it's gotten to be a really catchy story for people.

https://cointelegraph.com/news/bitcoin-pizza-guy-laszlo-hanyecz-on-why-bitcoin-is-still-the-only-flavor-of-crypto-for-him

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January 29, 2019, 01:08:27 PM
 #40

Of course almost all cars are not investments, however comes a time when you have to start spending and not get anal about 'lost gains'. That's how you wind up a millionaire living in a shack underneath a motorway wearing discarded sacks.

If you can afford the car and it benefits your life then you should buy it. We're all going to be dead for an extremely long time. I intend to expire with as little money left as possible.


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