Bttzed03 (OP)
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https://bitcoincleanup.com/
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January 09, 2021, 06:18:44 PM |
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Asking the few people who has BTC to spare and buy a Tesla.  sourceNothing 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. |
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kentrolla
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January 09, 2021, 06:57:57 PM |
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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.
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tinopener
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January 09, 2021, 07:05:13 PM |
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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.
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Sterbens
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Duelbits.com
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January 09, 2021, 07:06:46 PM |
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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. |
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ChrisPop
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Not your Keys, Not your Bitcoins
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January 09, 2021, 07:14:16 PM |
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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.
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. |
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DIA7
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January 09, 2021, 10:06:29 PM |
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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.
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. |
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RickDeckard
Legendary
 Online
Activity: 1008
Merit: 3002
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January 09, 2021, 10:40:31 PM |
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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.
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. 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 ... |
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Bergkampsballs
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January 09, 2021, 10:50:18 PM |
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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? |
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RickDeckard
Legendary
Online
Activity: 1008
Merit: 3002
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January 09, 2021, 10:56:10 PM |
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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... |
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Zilberia
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January 09, 2021, 11:03:31 PM |
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Tesla is really good but BTC is much better  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  |
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tinopener
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January 09, 2021, 11:11:03 PM |
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Just out of curiosity, why do you think it would be a negative move for Tesla share holders?
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. |
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Hippocrypto
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January 09, 2021, 11:27:50 PM |
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Asking the few people who has BTC to spare and buy a Tesla. sourceNothing 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. 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. |
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hatshepsut93
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January 09, 2021, 11:55:50 PM |
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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.
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Wexnident
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January 10, 2021, 01:12:27 AM |
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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. 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.
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? |
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Kong Hey Pakboy
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January 10, 2021, 02:31:44 AM |
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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.
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MishaSER
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BIB Exchange
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January 27, 2021, 03:06:18 PM |
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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. |
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dondonk
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January 27, 2021, 03:20:27 PM |
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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.
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aysg76
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January 27, 2021, 03:28:20 PM |
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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.
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cr1776
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January 27, 2021, 03:30:47 PM |
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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.
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Lordhermes
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January 27, 2021, 03:58:50 PM |
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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.
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. |
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