Elon Musk : "Tesla operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency."

OnLY399_ · 2021-03-24T11:10:48+00:00

Elon can now buy BTC with Tesla cars

earthmoonsun · 2021-03-24T08:38:32+00:00

That is the most interesting part. This is how adoption will happen.

As long as, and most vendors do this, crypto gets immediately exchanged to fiat, fiat will rule. But if crypto closes the circle, things start to get interesting.

Solebusta · 2021-03-24T07:52:32+00:00

Elon endorsing doge :

WES HATE HIM GOLLUM GOLLUM

Elon keeping BTC :

OUR PRECIOUS

semo_w · 2021-03-24T10:31:34+00:00

You could buy a Lamborghini with bitcoin in 2017, though this option was removed from most car dealerships and sites due to its volatility.

The fact that the bitcoins are not going to be converted to fiat and seen as an investment perhaps encourages other distributors to follow this path and let go of their negative mindset.

Raider4- · 2021-03-24T07:51:24+00:00

Elon loves to meme and talk about Doge. Yet Tesla adopted BTC.

Actions speak louder than words.

Painfullyempty · 2021-03-24T13:33:18+00:00

Waiting for the news, Fiat paid to Tesla will be converted into Bitcoin : )

rickez3 · 2021-03-24T11:18:48+00:00

That is insanely good for Bitcoin. The fact that they don't immediately convert them into fiat is a huge step for cryptocurrencies. If more big companies will follow, bitcoin will increase more and more in price, that is for sure.

doncelo · 2021-03-24T11:59:57+00:00

Does this prove the theory of Nano developers that businesses are naturally incentivized to run their own nodes?

taa_dow · 2021-03-24T10:17:26+00:00

Nodes? He has been in btc a lot longer than the Saylor talk...

Freeloader_ · 2021-03-24T15:51:18+00:00

the Love/Hate relationahip with Elon and this sub is strong

BassD · 2021-03-24T07:53:04+00:00

With their recent investment in BTC it would have surprised me if they would turn it into fiat, but still, good to hear this explicitly.

EM0618 · 2021-03-24T10:36:10+00:00

I hope others will follow soon!

BoGGy5m4ll5 · 2021-03-24T10:46:41+00:00

I am just happy that he stopped with the dogecoin memes. It drops a bad light on crypto in general. I love what hes doing with BTC, just image when he comes out with infos about experimenting with ETH

ragnarokfps · 2021-03-24T10:52:20+00:00

Well yeah, I thought this was kinda obvious. Why trade a Tesla car for cash when you could get bitcoin instead? Thats way better. It's not like Tesla needs cash anyway

abarthsimpson · 2021-03-24T11:56:58+00:00

So no taxes?

Xenu4u · 2021-03-24T12:28:20+00:00

This is great! BTC is being used as an actual currency! I really hope this leads to more companies/institutions doing the same.

Tax question, in the US would you still have to pay capital gains on this kind of purchase?

AjaySarwan · 2021-03-24T12:28:48+00:00

Why would they convert bitcoin into fiat which depreciates? The next thng would be tesla entering into contract with other foreign companies and pay them in bitcoin. That is how wide adoption is possible. Our shit coins will create some real worth too.

herb2018 · 2021-03-24T14:27:11+00:00

What no Dogecoin support?

Chumbag_love · 2021-03-24T16:52:16+00:00

Alright, so do we like Elon or not like him? I'm so conflicted. Can I remain impartial, impressed with his career, skeptical about his motives, and disdained with his personality on occasion, but generally happy he is alive in my time period because he's a really interesting character?

Monster_Chief17 · 2021-03-24T08:49:23+00:00

Smart money is stacking sats and you are still doubting the future of crypto...

elgato_caliente · 2021-03-24T10:19:53+00:00

[deleted]

xanthin · 2021-03-24T10:38:47+00:00

Hopefully this is just the first step though. Next Tesla should start paying suppliers and salaries in Bitcoin as well.

ZougTheBest · 2021-03-24T10:50:56+00:00

Let's say more and more people pay with BTC, how is Tesla going to pay his suppliers and taxes?

lez_do_dis · 2021-03-24T12:55:38+00:00

I don’t know if this is an unpopular opinion, but dunno if I’d buy a Tesla with BTC. I’d rather save my BTC and spend my ever inflating fiat 😂

turtle91 · 2021-03-24T16:25:09+00:00

Watch Elon become the first Trillionaire

DivineEu · 2021-03-24T07:57:14+00:00

Strongest man Alive!

2021-03-24T12:57:55+00:00

[deleted]

SexualDeth5quad · 2021-03-24T13:38:12+00:00

Alan, can I mine Buttcoins with my Cyberduck?

yogajogging · 2021-03-24T15:14:14+00:00

Musk is not reliable. First he was backing DOGE, and then BTC

2021-03-24T16:24:39+00:00

The way it should be. I never understood the point of a vendor accepting Bitcoin or anything else if he's just going to sell it instantly.

redditnihilist · 2021-03-24T17:27:59+00:00

so now we wait for another jump and we hope he doesn't change his opinion :D

SafeRecommendation55 · 2021-03-25T12:00:52+00:00

its a win win for him stablizing the value of bitcoin..not just because his company is a major hodler in this crypto...but if this goes to the moon we sure hell would buy tesla with btc..

Alex_O7 · 2021-03-24T11:49:31+00:00

I think this should be taken carefully. He did this for a reason that I don't think is solely due to be crypto enthusiasts. I think he mainly didn't transfer bitcoin into cash to not been taxed on that money and the possibility to consider that as a cost/exit for financial/balance reason (pardon if the words are not exactly correct English is not my first language and I didn't studied too much economics to know every words).

microwavedave27 · 2021-03-24T12:32:42+00:00

The important question here is are they gonna pay tax on those bitcoins?

odix · 2021-03-24T18:21:00+00:00

You guys dont understand that Elon Musk is working with the federal government to destroy bitcoin and bring regulations. Ya'll can't even see it. I'm dead fucking serious.

vladzia · 2021-03-24T09:33:13+00:00

1 BTC = 1 Tesla soon™️

ominous_anenome · 2021-03-24T07:51:34+00:00

It'll be huge if they start discussing BTC during earnings and on financial reports

2021-03-24T13:24:08+00:00

This is huge for adoption! Hate him or love him Musk is helping generate awareness

elipticslipstick · 2021-03-24T14:01:35+00:00

Which is why Bitcoin isn’t an investment, it’s a shift to the new currency. There is no going back, only an in, as early and cheaply as possible.

sgtslaughterTV · 2021-03-24T07:47:49+00:00

Elon certainly knows his shit and he is an early adopter! This, this company of all companies, speaks far far louder than anything that any other car manufacturer on the planet is willing to do.

DivineEu · 2021-03-24T08:29:27+00:00

Cool, let me write this down in my notebook of "fucks I don't give"

ehilliux · 2021-03-24T09:14:23+00:00

F U C K E L O N M U S K

MurilloGTF · 2021-03-24T08:45:16+00:00

Huge step!!!

thegooddocgonzo · 2021-03-24T07:55:53+00:00

I think this move, on top of the initial Tesla BTC investment, will help to earn back some of the goodwill Elon has lost in this sub due to all his Twitter shenanigans.

lovetoclick · 2021-03-24T08:17:45+00:00

SOURCE

yaotard · 2021-03-24T12:28:59+00:00

yea tesla realizes fiat is trash, just keep shit in the cloud

Eyesofthevalley · 2021-03-24T12:50:54+00:00

Meaning non taxable events when accepting the coin.

MrJDL71 · 2021-03-24T13:12:12+00:00

He's taking them to Mars

aRJei45 · 2021-03-24T13:16:17+00:00

More BTC for Tesla, hooray!

EarningsPal · 2021-03-24T14:24:12+00:00

Company A: Sells services for USD

Company T: Sells services for BTC

Company T gains market share overtime because it can advertise more, pay for more R&D, afford better locations, etc.

Basically T can out invest A. A will be forced to collect BTC or risk becoming irrelevant.

At some point, CFOs will be required to have a BTC strategy.

NightKingsBitch · 2021-03-24T15:17:10+00:00

Just wait until Elon announces bitcoin will be the official currency of Mars

2021-03-24T16:15:37+00:00

He hodl like a fellow 🦍💎🤚😉

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