It's nice to see that after Honda there's another manufacturer willing to do it.
That said, I doubt they will have a lot of sales, but that's a great way to show that lambo is not the choice you should be making. They're actively fighting the "when moon when lambo" meme by showing that you can't buy a Lambo but you can buy a Ferrari. I've always preferred Ferrari design over Lamborghini and the build quality is a bit higher in Ferraris. Have you seen the plastics in new Lambos?
As for Tesla, I don't want them to accept bitcoin. Fuck Musk, I'm never buying his electric shit. These are not real cars.
Topic: Ferrari introduced BTC payment option for their cars - page 2. (Read 803 times)
Hope Elon Musk doesn't feel like a trendsetter in this because he bailed on us and left us for dead after attacking the markets indirectly with his mining comments but not too late to get back onboard.
Musk scammed people by doing it. I believe this was a ruse to pump the market and sell into the pump. Musk bought, announced it, the market pumped, announced that tesla bought as well, market pumped, said that tesla will be accepting payments, market kept pumping, so Musk dumped and said Tesla is no longer accepting it. This is how it went in short.
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Btw I wonder what effect Toyota would have if they said they are ready to accept Bitcoin knowing very well they are the largest car manufacturers and Carter for all markets and budgets... Whatever the outcome great move Ferrari.
Much bigger than Ferrari, because how many cars does Ferrari sell compared to Toyota? How many will they sell for bitcoin? 1 a month?
I have enough to buy a Ferrari, but even if I was satisfied with selling my coins now I wouldn't buy such car because I live in a rural area, it wouldn't work. The car would be dirty all the time and I would have to fix the suspension every year.
This is a game changer and because this was initiated by customer requests I see this spilling over to other car brands and knowing very well that there is alot of idea borrowing when it comes to the sales business, expect to see the automobile industry ready to jump on the Bitcoin boat and BTC price to jump up very soon.
Hope Elon Musk doesn't feel like a trendsetter in this because he bailed on us and left us for dead after attacking the markets indirectly with his mining comments but not too late to get back onboard.
Btw I wonder what effect Toyota would have if they said they are ready to accept Bitcoin knowing very well they are the largest car manufacturers and Carter for all markets and budgets... Whatever the outcome great move Ferrari.
Hope Elon Musk doesn't feel like a trendsetter in this because he bailed on us and left us for dead after attacking the markets indirectly with his mining comments but not too late to get back onboard.
Btw I wonder what effect Toyota would have if they said they are ready to accept Bitcoin knowing very well they are the largest car manufacturers and Carter for all markets and budgets... Whatever the outcome great move Ferrari.
As the title says, Ferrari (who I believe doesn't need introduction) announced that they are accepting bitcoin payments for their cars. They are not accepting BTC (and a few other cryptocurrencies) directly but instead via Bitpay but its still a good thing for bitcoin when probably the most legendary car manufacturer decided to accept it even through a 3rd party.
For now its only for US market but they plan to expand it to Europe too.
Ferrari said the decision came in response to requests from the market and dealers as many of its clients have invested in crypto.
"Some are young investors who have built their fortunes around cryptocurrencies," he said. "Some others are more traditional investors, who want to diversify their portfolios."
[/quote]For now its only for US market but they plan to expand it to Europe too.
Ferrari said the decision came in response to requests from the market and dealers as many of its clients have invested in crypto.
"Some are young investors who have built their fortunes around cryptocurrencies," he said. "Some others are more traditional investors, who want to diversify their portfolios."
This was the another way of good approach to the bitcoin,because the Corporate starts to accept the bitcoin.So the demand of the bitcoin will be high by this.Many of the car buyers will start to adopt the bitcoin for the purchase of bitcoin.So the money flow to the bitcoin will be high,this will increase the price of bitcoin because of the increase in the demand of the bitcoin to the market.The most car manufacturing company was now accepting the bitcoin as their payment.So the other company also follow this adopt of the bitcoin.
Now I don’t know how to feel about such news. Either it’s wonderful that such trends are happening, or auto concerns are doing really badly and sales have fallen, which is why they are trying to attract buyers in this way (to expand markets at the expense of bitcoiners).
I don't know how other luxury car manufacturers are performing, but last year Ferrari sold the most cars ever and based on the results from the first half of 2023 this one might be even better so I say that they are doing just fine. Then again, why not make it even easier for potential customers to buy cars, hence BitPay. 
As the title says, Ferrari (who I believe doesn't need introduction) announced that they are accepting bitcoin payments for their cars. They are not accepting BTC (and a few other cryptocurrencies) directly but instead via Bitpay but its still a good thing for bitcoin when probably the most legendary car manufacturer decided to accept it even through a 3rd party.
For now its only for US market but they plan to expand it to Europe too.
Ferrari are famous for their “speed”, but this time they are lagging behind Honda?For now its only for US market but they plan to expand it to Europe too.
Quote from: https://www.reuters.com/business/autos-transportation/ferrari-accept-crypto-payment-its-cars-us-2023-10-14/
Ferrari (RACE.MI) has started to accept payment in cryptocurrency for its luxury sports cars in the U.S. and will extend the scheme to Europe following requests from its wealthy customers, its marketing and commercial chief told Reuters.
Ferrari said the decision came in response to requests from the market and dealers as many of its clients have invested in crypto.
"Some are young investors who have built their fortunes around cryptocurrencies," he said. "Some others are more traditional investors, who want to diversify their portfolios."
Ferrari said the decision came in response to requests from the market and dealers as many of its clients have invested in crypto.
"Some are young investors who have built their fortunes around cryptocurrencies," he said. "Some others are more traditional investors, who want to diversify their portfolios."
The well-known meme about Lambo takes on a new form (Lamborghini not going to accept bitcoin as payment?). Now bitcoiners will drive Ferrari instead of meme Lambo.
Let's start betting on which automaker will be the next to take up the baton in adopting the bitcoin as a means of payment? Just when will they start doing it directly without intermediaries.
Now I don’t know how to feel about such news. Either it’s wonderful that such trends are happening, or auto concerns are doing really badly and sales have fallen, which is why they are trying to attract buyers in this way (to expand markets at the expense of bitcoiners).
It is indeed a step in the right direction, but it will not have much impact on the market. Ferrari will not receive the BTC directly, but they will be exchanged back into the usual fiat beforehand. Nevertheless, I think this news will become more frequent in the future.
Even though it was good news because it came from the automotive manufacturer Ferrari, I was not too enthusiastic about buying it because I would rather use Bitcoin for other more useful things.
But some rich people will buy a Ferrari using bitcoin because owning a Ferrari is a matter of pride and can raise their status among other rich people.
Maybe some young crypto investors are also interested in buying a Ferrari using bitcoin, but for other investors, they won't buy the Ferrari.
After all, buying a Ferrari means someone is very rich and not for most people, especially for small bitcoin investors.
This is important for adoption, more and more manufacturers are ready to accept payments in cryptocurrencies, everything will happen gradually, step by step, recently Honda did it, now Ferrari is doing it, it is logical to assume that soon most manufacturers will accept cryptocurrencies as payment for cars. And so gradually developers will begin to do this and we will be able to buy real estate with cryptocurrencies and pay for any purchases we want. This is an irreversible process and there is no point in resisting it. But some rich people will buy a Ferrari using bitcoin because owning a Ferrari is a matter of pride and can raise their status among other rich people.
Maybe some young crypto investors are also interested in buying a Ferrari using bitcoin, but for other investors, they won't buy the Ferrari.
After all, buying a Ferrari means someone is very rich and not for most people, especially for small bitcoin investors.
It's good news, but it would have made a very big difference, and it would have been the best news, if the announcement was that they self-hosted a payment processor with BTCPay Server and accepted ONLY Bitcoin, https://btcpayserver.org/
Again, what you (and many others) don't understand is that we won't wake up in a world where everyone goes from not accepting bitcoin in any way, to accept it directly P2P as Satoshi initially envisioned. This is a process and during this period payment processors are necessary and I think that it would be much worse if we didn't even have those as that would mean way less ways to use bitcoin for what it was intended after all. 2 years ago I had to buy a new laptop and since I wanted to pay it with bitcoin (BTC price was very good so why not) I had 2 options: sell Bitcoin for cash and pay 3-4% fee at crypto exchange (I wanted to avoid bank transfers) or pay for laptop using PayCek (popular Croatian payment processor) directly on retail site. I of course chose option nr 2 as it was faster, less hassle and also cheaper.
Or I could have maybe been stubborn and say "unless retailers don't accept bitcoin directly, I won't use it". Then again, why would retailers even introduce direct bitcoin payment if they don't first see people paying via payment processor?
Plus many users are not that excited because perhaps they're more educated in what's truly good for Bitcoin and what's not. The puff-pieces will not work anymore.
No one expects that these ekind of news pump bitcoin price as those days are long behind us and I know that in the grand scheme of things they don't mean much, but I don't see how this is not a good news for bitcoin. 
Even though it was good news because it came from the automotive manufacturer Ferrari, I was not too enthusiastic about buying it because I would rather use Bitcoin for other more useful things.
But some rich people will buy a Ferrari using bitcoin because owning a Ferrari is a matter of pride and can raise their status among other rich people.
Maybe some young crypto investors are also interested in buying a Ferrari using bitcoin, but for other investors, they won't buy the Ferrari.
After all, buying a Ferrari means someone is very rich and not for most people, especially for small bitcoin investors.
But some rich people will buy a Ferrari using bitcoin because owning a Ferrari is a matter of pride and can raise their status among other rich people.
Maybe some young crypto investors are also interested in buying a Ferrari using bitcoin, but for other investors, they won't buy the Ferrari.
After all, buying a Ferrari means someone is very rich and not for most people, especially for small bitcoin investors.
Before the Ferrari already know their target and by this era there's a lot of young people made a good financial flows and few of them related into crypto currency so it's a good shot to extend their mode of payment by adopting crypto for sure this will become a huge news and possibly adopt too by other competitors today online payment is the main mode of transaction.
I saw a topic before too there's a company too accepting crypto but related into big bikes.
I saw a topic before too there's a company too accepting crypto but related into big bikes.
In the past, this kind of news used to be enough to get Bitcoin moving and rocketing, but now the news has almost zero impact on the price. In fact, the main meaning should not be attributed to price rises. The situation here can be thought of as a kind of fiat. For Bitcoin, it is important and necessary to successfully complete the process of becoming a part of the existing system with its deficiencies and failures, before claiming to radically change the whole system. I don't think this has been achieved in a fully convincing way. Therefore, we have not yet been able to fully test the magnitude of the possible consequences. The world is at a breaking point in all respects and Bitcoin is part of it at this stage. Time will show everything clearly.
Because payments are made through BitPay, Ferrari will probably accept shitcoins? It would be laughable if they accept BCash too. BitPay was a known advocate for BCash.
Since payments will be processed by Bitpay its safe to assume that all currencies supported by them will be accepted, including BCH.
Then I believe Ferrari didn't actually "accept" Bitcoin. They're merely accepting BitPay payments, which are not technically "Bitcoin Payments". It's good news, but it would have made a very big difference, and it would have been the best news, if the announcement was that they self-hosted a payment processor with BTCPay Server and accepted ONLY Bitcoin, https://btcpayserver.org/
Plus many users are not that excited because perhaps they're more educated in what's truly good for Bitcoin and what's not. The puff-pieces will not work anymore.
For such a big company, I'm certain there's a significant impact on the market. It seems like we are now witnessing more significant news related to Bitcoin, and it appears to be gearing up for a new bull run. For us to have an idea on its potential impact on the market, as per... ; Market capitalization of Ferrari (RACE) it's marketcap as of October 2023 is $56.40 Billion. Just imagine the positive impact it will have on adoption.
Ehh, it's definitely good news but it'll be a 'meh' event in the grand scheme of things — for both bitcoin and Ferrari. Highly highly likely that the number of customers that will use BTC and not credit/debit will be less than 1% of customers.
You've got a point there, but at least we still have this kind of news, which could create a buzz in the market. You know, when you link Ferrari to Bitcoin, that sounds cool, as investors might associate Bitcoin with another success. But in reality, you are right; the market from Bitcoin users is probably limited. However, this could grow over time, and I'm hopeful.
I seriously doubt that there is a high interest among those who own bitcoin to use it to purchase an expensive car like a Ferrari.
Well, not many people buy Ferrari in general (they sell 10-15k cars per year which is nothing compared to let's say Toyota who sells 10 million) but there's still decent amount of nouveau riche crypto millionaires who like to flex with expensive cars so there will be some interest. I very much agree. This is also free advertising for bitcoin very much similar to the campaign of Robert Kennedy Jr who will be running as president of America on November 24. Also, this is not only good for bitcoin, this is also good for the whole of the cryptospace because Ferrari will also be accepting ETH, XRP, stablecoins, APE, the memecoins dogecoin, shiba inu and other cryptocoins through the use of Bitpay.
I very much agree with @stompix and @Rikafip who has noticed why some people are not cheering on this news update. This might be the effect of the bear market, I reckon.
trying to be the new face of the crypto lifestyle huh? Lol I don't think the "wen lambo?" is going to be dropped for a "wen ferrari?", the latter just doesn't roll off the tongue as good as the former.
In any case I think this is a good thing and a step into the right direction, luxury brands seeing bitcoin as a means of payment is definitely one thing to behold. Perhaps they made some statistical researches and found that most of the people who buy ferraris and lambos now are into crypto, and they wanted to bank in on that. But I digress. Regardless if this is a marketing ploy meant to appeal to the crypto community or a true-blue effort to accepting bitcoin and allowing it for commerce at least in their own bubble, this means well for bitcoin as it would only be time until every other product out there could be bought with bitcoin.
In any case I think this is a good thing and a step into the right direction, luxury brands seeing bitcoin as a means of payment is definitely one thing to behold. Perhaps they made some statistical researches and found that most of the people who buy ferraris and lambos now are into crypto, and they wanted to bank in on that. But I digress. Regardless if this is a marketing ploy meant to appeal to the crypto community or a true-blue effort to accepting bitcoin and allowing it for commerce at least in their own bubble, this means well for bitcoin as it would only be time until every other product out there could be bought with bitcoin.
If you have 10k Bitcoins, why not spending a few to buy a car like that? How long are you gonna live to say it's not worth it? You should also buy other cars as well, just don't forget to put a young virgin on the front seat with a large golden medal with BTC carved into it and a sun glass with pink stars. Cuban cigar in one hand and a rolex in another hand.
This sounds cool to me as against what many people are saying on the thread. People are saying that of they own bitcoin of that amount, that they wouldn't be comfortable spending it to buy a car that they will instead see it as an investment and not for spending. The question is that, if you are wealthy will it no be nice to have;
- Have a bitcoin for spending purposes
- Have another for investment/saving purposes
As for the KYC, common, that would be the last problem, it's a car you have to register, even without KYC you would still provide the dealership with a copy of your ID as it's a legalized sale that's going to happen there.
In my opinion, Ferrari's Chief "Gallier" made this decision to accept cryptocurrency as payment by creating a precedent. According to Ferrari's chief, we have taken these steps based on our clients' demands because cryptocurrency users and investors are increasing day by day. So, they have accepted cryptocurrency as a payment method for the convenience of their clients.
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Wow, this is good. I am just reading for the first time. I believe that even in the future, there are definitely going to be a lot of big companies that will accept Bitcoin as a means of payment, and if most of these big companies keep accepting Bitcoin, it will bring about more exposure for Bitcoin, as many people will really want to pick up interest because of the company using it. Also, it will make the price of Bitcoin skyrocket more.
I became aware of this news from Cointelegraph today. I was happy to see that news since it would create a positive impact on the cryptocurrency market. But seems the market hasn't reacted to this news. Though I hadn't been expecting a big pump, at least there should be a positive movement. So finally, it regrets me. However, companies like Ferrari accepting cryptocurrency is something big for us. We may see some results in the future when a few more big news stories come up. It's a strong Bitcoin adaptation, and more bars would be interested in Bitcoin payments. There are a lot of crypto millionaires who might want to buy a car through cryptocurrency.
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