Topic: Ferrari introduced BTC payment option for their cars - page 3. (Read 803 times)

First of all, this is super cool news. Sales in 2022 were better than the year before, with a total of around 13,000 vehicles sold. My Speculating now: Electro mobilization is being pushed very hard in Europe and a Ferrari cant be powered by electric after all, it doesnt go? With Bitcoin, I think they are trying to keep up the coming sales. The first electric Ferrari should come in 2025 and then you will see how it sells and whether you have to adjust the company policy. A little bit I think they are trying to absorb coming declines in sales. I dont think a Ferrari with a range of less than maybe 100 km can sell good.

I love the buzz - but it looks like I'll really have to wait until the price of bitcoin hits $1 million before I'm ready to pay for a Ferrari with bitcoin. LOL

Let's be honest - I think some people are ready to spend their bitcoin on whatever they like. The fact is that not everyone spends part of their bitcoin investment to buy something - but some of them actually buy bitcoin on purpose and spend it on something. It's a good case of adoption for bitcoin and Ferrari too - but growth in interest is certainly not guaranteed although it feels possible the company is starting to prepare for a surge in demand in 2024, 2025 or 2026.

The good news for Bitcoin will only increase as the bull run approaches. Many companies and large companies are also aware of this. This decision taken by a brand like Ferrari is very positive news for Bitcoin. When the time comes, we will hear about many brands such as Ferrari.

Bitcoin is now a value that everyone accepts and invests in. We will hear such news often.

This is truly good news for the Bitcoin Crypto industry which has always been the main adoption in the use of decentralized digital currencies, although they do not say specifically how in the future and what crypto will be received by them as a medium of exchange for the purchase of their car products, still this gives The sentiment is quite positive for the market movement that has been in a prolonged side way zone.

I will trace it further for this news and development, it seems I have a signal to take a long position in tonight's trading. LOL

Asian countries must be difficult if you do it openly or openly, it's okay, we first see developments in Europe in the use of this bitpay, running well or not in the future, and triggers fomo or unlike the then cycles that are done by Elon Musk with the car tesla.

This is a great move buy Ferrari. It shows that they are a forward-thinking and progressive organisation. The super rich clients may not have any concern about this but trust me they are going to have new clientele base from crypto millionaires all over the world. I look forward to a day when fashion brands like Zara, Louis Vuitton, Gucci and other big fashion brands would make this type of company wide announcement.

Since they are likely going to accept Shitcoin, that would be better than sending your BTC to them. If I were to buy one, I would probably do it in the bull run peak that even the shitcoin will have a big value enough to buy one.

So far it's only Ferrari announcing something like this, no other car producer yet. It's Ferrari sees there will be more BTC millionaires soon and they are likely buyers in the future. Cars like Ferraris are meant to be showcased only on some occasions.

it's mean countries where crypto is banned or at least not legalize will be in risk if they want to buy through crypto. So this offers is not for all and only Europe countries will take benefits of this service because residents of country where crypto not legalize will not take a risk when there is other ways available to buy(without risk).

Not only for Bitcoin but also for Ferrari. This news spread all over the crypto social platform and everyone is discussing upon it just like we are doing here. As Rikafip mentioned that Ferrari company just wanted to sell their cars and they have no interest in btc adoption or publicity so this why they are not going for own nodes or other alternative.

+1

It baffles me that people here are saying "no one in their right mind will spend bitcoin on Ferrari" while there are loads of crypto millionaires who are flexing by buying luxury cars, and just because they are not willing to spend bitcoin, they think that everyone else has the same mindset.

As I mentiond earlier, few years ago I bought my father a car with bitcoin. At that time BTC was ~50k and logic behind this was that my father is not getting any younger while his dream was to have SUV or something along those lines as he is at the age when its not easy to get in/out of those lower cars (and the one he drove was ~20 years old). So why the fuck not cash out part of my BTC instead holding onto it for 4-5 years more just so I can get better car/spend less BTC? I am not saying that people should sell all of their BTC they have and buy some crap (but even if they want, who am I to tell them how to spend their money), but I don't see anything bad at spending part of it every once in a while.


Not once I heard people here saying that its stupid to spend bitcoin and if people here are not willing to do it, then who is?


You will probably pay even higher fee when converting btc to fiat so I don't see any problem with that. Would it be better if Ferrari acceptes BTC directly? Of course it would, but that's not realistic at this point and it won't be for quite some time.


Of course they won't bother making their own payment system when percentage of people who will actually pay with crypto won't be that high anyway. They don't care about bitcoin as all they care about is how to sell cars in the most convenient way.


Since payments will be processed by Bitpay its safe to assume that all currencies supported by them will be accepted, including BCH.


What people here often don't understand is that we won't woke up one day and suddenly everyone will accept bitcoin directly as intended. Instead, changes will be small and gradual and I see this as just another small step into right direction when companies finally understand that bitcoin is here to stay and that it has many advantages over fiat. But untill that happens, 3rd party services are necessary evil.

I think the automobile companies accepting bitcoin might just know it as a medium of payment and that's it. So when a company like Bipay approaches them with a business proposal, as long as it looks good to them and it will increase their sales, they just go for it. It's the same thing with Honda automobile, who has a third-party agent accepting bitcoin on their behalf on every car purchase and a certain percent goes to the company. They can actually remove the middleman by running thier own nodes, but the publicity is still good for Bitcoin.

No, I didn't miss it, I was actually curious what other shitcoins they might accept and if it's Ferrari or some dealership and read all of it.

What happens is that I simply changed my opinion, you know I was anti shitcoin, anti-intermediaries, but if you see things are not working the way you wish then you start to think what's the next best and less bad than complete control thing, and yeah, payment gateways, without them there is nothing so the only compromise available. Besides, nobody stops Ferrari after taking your BTC to dump them on the market, right?

Let's simply say that I prefer today's illusion versus the faraway dream I less and less believe in becoming true.

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.

It's a shitty thing but if nobody uses it it will be even worse!

If currently the only option is to only be able to use Bitpay as a payment mode, I don't think that's a significant problem, why was the Internet alone difficult to navigate when it first started.


I think they have read and studied future opportunities and this, if I assume, is a smart move because BTC is still very cheap after the last big correction and if this goes according to the company's target, the profits that will be obtained in the future will be extraordinary, where with BTC buyers can buy the car without attaching your name or other personal information to it.

Elon Musk has done this recently, good news for bitcoin, and in the end everyone will accept bitcoin as the world currency.

I do not see any obstacles to such implementation in Asian countries that legally accept cryptocurrencies and if you were referring to the availability of BitPay's services, there's always the option of using "other payment processors in different regions".

Considering that they'll be using BitPay's services, the data of Ferrari customers will be at a higher risk of being exposed if a data breach were to happen to one of them!

Plus there's THAT, BitPay. This is going to be a nitpick. Ferrari isn't truly accepting Bitcoin if they're going to convert the coins to fiat, which isn't bad, but if we believe that they want to accept Bitcoin because of its ethos, in my opinion, they're not.

- 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.

¯\_(ツ)_/¯

Just recently, last week, we heard that the Honda company has implemented accepting Bitcoin as one of their options that can be used as payment. And now it's Ferrari's turn. Look at these giant car companies. Now they are starting to recognize Bitcoin in their business, and they have made it one of the payment options in Bitcoin at this time.

Why do they smell that Bitcoin will be 100k in the coming halving and bull run? Of course, if I am one of the rich people who have the capability to buy a Ferrari and have an idea for Bitcoin, why would I waste it if I knew it would give me a huge profit in the future?
Maybe later, when the bear market returns, they will no longer accept Bitcoin as payment because they will see the value drop.

They didn't do that at the right time; in fact, they should have started it during the bear market.

This is positive news showing a strong growth in bitcoin's popularity, but hopefully, this news will have a big impact on the price, I think this news is not interesting enough to attract much of everyone's attention.  I also saw this news on social networks but did not see many people discussing this issue.  it is completely unlike the news that Tesla has released, so expectations of a positive impact on bitcoin prices are very unlikely.

Chosing Bitpay means we have to pay 1-2% + 25¢ extra if we want to buy Ferrari car with btc. Ferrari is such a big company and company like this should work on own payment system rather then other source where customers have to bear the extra fee burden. Months ago I read news about Paypal also who was relying on third party source.

Despite this fact I think this is very positive movement and this news show that interest and demand of people to use btc/crypto in online payment is increased and big companies now providing services to got attention of users who love to pay through btc. I hope we will hear about many others companies in this year just like many ETF providers applied for Bitcoin ETF after Blackrock.

This sounds like a great news and should make a positive impact on BTC price but I see that the momentum is low.
But even that is good because steady growth stays for a long time than a sudden pump in price.
Recently Uber had announced that they will start accepting crypto payments and now Ferrari.
Seems like big companies are starting to adopt cryptocurrencies and I hope the list of companies keeps increasing.

I expected that they would manage their own node or use any open source code, but relying on a third party, especially Bitpay, shows that it was the company that negotiated with Ferrari.
Bitpay is a Bitcoin payment processor that has been operating for a while, but there are many complaints about it, so I am concerned about user complaints, but it is a good start, and I hope they change their mind about accepting Bitcoin directly in the next few years.

Although I appreciate moves like these, as they promote cryptocurrencies as something real that you can use in real life for tangible purposes, there's still a large number of people who are completely unaware of them and their purpose. Although this is also my opinion, I also don't believe there's enough audience in order to add such a feature. Tesla tried it as well, and not only are they a huge manufacturer, but they also sell quite expensive cars. There must be a reason for Elon Musk to remove it as a payment option, and most likely, it was due to a lack of usage and nothing to do with energy consumption.

Moreover, I also highly doubt that this announcement is going to make any significant difference (if any) in the market.