Bitcoin/Cryptocurrency as a form of payment
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It wasn't offered to me as an option during the payment process but I didn't ask.
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70 Posts
Thanks. I'll ask when my turn comes.
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505 Posts
I would say no. Tesla tried that for a couple of months in 2021 (March-May) but stopped. They claimed because of climate concerns but probably more about volatility than anything else.
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70 Posts
Thanks.
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70 Posts
If I sell my Bitcoin, I will generate a taxable event. I was hoping to avoid that.
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58 Posts
They don't want to pay taxes after selling crypto and withdraw it to cash
)))
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Why would anyone, much less a car company, accept payment in bitcoin? It’s too chancy these days - or any day imo.
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1,691 Posts
Speaks a lot about the person who wants this and the company who does this, imo. Not good things.
Tesla Model Y, Cadillac ELR, Rivian R1T, Chevrolet Volt, Spark EV
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95 Posts
Wow. Pretty judgy... 🫤
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70 Posts
Speaks a lot about you judging based on a simple question without knowing the related facts or anything about the person asking.
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Agree these statements re Bitcoin are very naive. The idea itself is truly amazing. Much respect and i do believe it is the best asset i have ever owned. Many companies are accepting bitcoin and some will keep this asset on their balance sheet due to new FASB accounting rules which treat the asset like other commodities. Converting to fiat is also very simple. STRIKE is a company that will do this instantly without tax events. Re the energy usage, yes it does use electricity. This enables massive security for the asset. If ESG is your concern, be aware stranded energy is preferred for BTC mainly because locality contraints on energy transmission do not apply. Thus very “green”.
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70 Posts
My thoughts exactly. Thank you for your thoughtful and great response 👍🙏
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1,691 Posts
I call BS on this. Sure in the short term stranded gas is otherwise wasted, but over the longer term using it this way just creates more or at least prolongs demand for fossil fuel extraction. It's just straight physics that BTC mining converts a ton of energy into heat that ultimately gets dumped into the atmosphere, without producing any tangible work. There is no way to call it green, period.
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BTC was best-performing asset of past decade by 1,000%
Bitcoin has beaten all other asset classes in terms of cumulative gains since 2011 by at least a factor of 10.
cointelegraph.com
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And over the past two years?BTC was best-performing asset of past decade by 1,000%
Bitcoin has beaten all other asset classes in terms of cumulative gains since 2011 by at least a factor of 10.
Tesla Model Y, Cadillac ELR, Rivian R1T, Chevrolet Volt, Spark EV
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95 Posts
The past two years have been fantastic. It takes market movement to make money. This up & down has been a boon.
👍
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