Do you plan to pay for your TM3 with Bitcoins?

[kbecks13]

Musk is clearly not seeking to "transition the world to sustainable energy", he is looking to transition Elon Musk to be even more rich and powerful.

What is the difference between a prudent business decision that improves the balance sheet for a company and "looking to be rich and powerful"?

 

[daniel]

Good points made.

I do not expect our govt to allow bitcoin to challenge its dominance. It will be outlawed, or nationalized in a sense of making us dollar crypto....and they are now using bitcoin as a guinea pig to test it....I believe EMs is a genuinely good guy who just wants to be on the cutting edge of everything....whats more old school than dollars?

Bitcoin cannot "challenge" the "dominance" of the US dollar. Cryptocurrencies are way too unstable to be useful, are useless as capital in building and operating a business, and lack any sort of protections or the possibility of redress against fraudulent activities. Cryptocurrency transactions are outrageously expensive and are economically feasible today only because the mining process subsidizes the transaction costs. Once the supply of new coins diminishes those costs will be passed on to the persons trading the coins and for transactions of moderate size the transaction cost will exceed the amount being transferred.

The only concern that the government has about bitcoin (and it is a legitimate concern) is that its principal use (after speculation) is tax evasion and black market activity including kidnapping, digital extortion, human trafficking, and the buying and selling of contraband. The popular advice to "hold on for dear life" exemplifies the fact that the vast majority of coins are not being circulated; they are just being held for speculation. Currency by definition must circulate or it is not currency at all. Crypto does not circulate because it is too volatile.

 

[Mark2018s]

Bitcoin cannot "challenge" the "dominance" of the US dollar. Cryptocurrencies are way too unstable to be useful, are useless as capital in building and operating a business, and lack any sort of protections or the possibility of redress against fraudulent activities. Cryptocurrency transactions are outrageously expensive and are economically feasible today only because the mining process subsidizes the transaction costs. Once the supply of new coins diminishes those costs will be passed on to the persons trading the coins and for transactions of moderate size the transaction cost will exceed the amount being transferred.

The only concern that the government has about bitcoin (and it is a legitimate concern) is that its principal use (after speculation) is tax evasion and black market activity including kidnapping, digital extortion, human trafficking, and the buying and selling of contraband. The popular advice to "hold on for dear life" exemplifies the fact that the vast majority of coins are not being circulated; they are just being held for speculation. Currency by definition must circulate or it is not currency at all. Crypto does not circulate because it is too volatile.

Its also a giant ponzi scheme that operates on the 'bigger fool theory'...I could be wrong, but its a fad...only in some alternate universe can an imaginary gold coin be worth 20x that of a real gold coin. This is not a world I want to live in.

 

[dhanson865]

Crazy to think when I first looked at buying a model 3 with BTC it was something like 2 or 3 bitcoins for a car. Now it's approaching 2 or 3 cars for a bitcoin.

Today's pricing is about

LR AWD Model 3 is at ~0.79 BTC
SR+ Model 3 is at ~0.63 BTC

if a $35k model 3 still existed it would be ~0.55 BTC