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Will Tesla accept Bitcoins to buy a car?

Discussion in 'Tesla Motors' started by timk225, Jul 15, 2016.

  1. timk225

    timk225 Member

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  2. cpa

    cpa Member

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    I have no idea. But I would guess an emphatic no. Tesla is burning through cash. How many of Tesla's vendors accept bitcoin? Tesla does not want to have to go through whatever one goes through to convert bitcoin into dollars in order to make payroll next week. I doubt that the shareholders need to take on any additional indirect risk with bitcoin. And I doubt if some schlub in the accounting department needs another chore to perform.

    I am ignorant about such matters. A question for the home audience: How many of the Fortune 500 companies accept bitcoin? How many companies with revenues in the billions of dollars accept them?

    Just my opinion!
     
  3. bkp_duke

    bkp_duke Member

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    Just a few better-known companies that accept bitcoin (some are Fortune 500s) that accept bitcoin:

    Dell
    Overstock
    TigerDirect
    Dish Network
    NewEgg

    I personally bought not one, but two Model S's with bitcoin-derived funds (but I did convert them to USD first).

    Also remember that Musk is a co-founder of . . . PAYPAL. At the time, that was a very revolutionary payment system. Therefore paying for a Tesla with Bitcoin, while currently not possible, is not as far-fetched as you make it sound.
     
  4. timk225

    timk225 Member

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    Bitcoin History: The Complete History of Bitcoin [Timeline] Read at least the first 30 entries or so, in this interactive timeline of the history of bitcoin.

    It just KILLS me that I did not know in late 2008 what I know now about Bitcoin! Can you say "the biggest missed opportunity ever"? I did make a few grand on it from early 2013 to late 2013, but it could have been so much more. As in MANY MILLIONS more!

    The process of converting BTC to cash isn't very hard, a few people dedicated to it in the accounting department would be enough.
     
  5. bkp_duke

    bkp_duke Member

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    The process can actually be automated. As soon as payment is received it can be converted at market rate. This would ensure Tesla gets the proper USD equivalent, and would make shareholders happy. Minimal risk due to currency fluctuation.
     
  6. cpa

    cpa Member

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    You see, there you go. I learned a lot, and much thanks to those who replied. Of the companies who accept bitcoin, do they make routine sales in the 10^5 range?

    (I have only heard of Dell and Dish Network, so the other examples may not be as well-known as they would have you believe! :))
     

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