Honda Now Accepts Bitcoin and Ethereum As Payment Methods - page 5.

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Quote from: Bitstar_coin on October 02, 2023, 11:31:49 AM

*Which other automobile company would you want to also accept btc for payment?

*Is this news big enough to trigger market uptrend in the coming weeks, months?

Honda is a very big brand and has been in the market for years. This move by Honda is very good news for cryptocurrency. If a small brand, not Honda, said that it would accept payment with crypto, it would not have a big impact, but since it is a Honda brand, I think the impact would be big. Other big brands can also make similar statements.

We feel like bull season is approaching. Many brands will accept payments with cryptocurrency.

Even if this news doesn't have a big impact on crypto, it could be a driving force for the stagnant market. Therefore, we can consider this a good development for crypto in every respect.

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Quote from: m2017 on October 02, 2023, 01:15:16 PM

"Such a surprise!" I thought when I saw the topic title. But when I began to study this issue a little deeper, my admiration began to rapidly diminish.

What do we have as a result? Honda began accepting cryptocurrencies through an intermediary, FCF Pay, which takes a commission of Flat fee of 3usd + 2%.

Who are FCF Pay (French Connection Finance)? FCF - is a dividend-generating cryptocurrency that operates on the BNB network (now it’s clear why this news was published on Binance Feed). As it turned out, Honda is not their only partner and this platform provides intermediary services to more than 20,000 counterparties.

The question arises: why is Honda (as well as many other partners of FCF Pay) unable to accept cryptocurrencies directly as payment for its products (auto\motorcycles, leasing, rent), but needs the services of intermediaries, like FCF Pay? Cryptocurrencies are designed in such a way that there is no need for intermediate platforms between the owner (crypto owner) and the seller (of goods and services) and they can interact directly, that is, p2p. Where p1 is crypto owner, and p2 is seller.

Even with these problems, it became possible to buy cars and motorcycles from a famous brand like Honda for cryptocurrencies, which is already a very good event.

It would have been better if Honda was using BTCPay to accept Bitcoin directly. It seems unlikely that mainstream companies with multi-billion dollar market caps will start adopting Bitcoin in any significant way. Instead we occasionally see a few companies use custodial crypto to fiat payment gateways where Bitcoin is an option along with a dozen or so scam tokens. As long as it gives Bitcoin some utility and legitimacy it's an overall good thing I suppose but there is still a long, long way to go before we see Bitcoin being accepted without intermediaries by these large corporations.

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Maybe this is available in France but most likely won’t be available for the USA market. Way too many regulatory loop holes to pass thru.

We know they convert it to fiat for Honda that’s not the problem here. The issue is whether governments allow such large purchases to be made.

Currently you can pay for bitcoin with services such as Coinbase but they are generally less than 4-5 figures. When you want to buy a $50k the governments are going to want to get involved.

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Good news. Really nice seeing big steps being taken by a multinational corporation to accept bitcoin as a payment method.
This move would most likely bring in some new and perhaps younger customers who would be willing to purchase vehicles with bitcoin.

I would like to see Mercedes Benz follow in this footsteps. Probably wishful thinking for now.
I think a lot of people would appreciate and would actually use bitcoin as payment methods for buying automobiles

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Quote from: Bitstar_coin on October 02, 2023, 11:31:49 AM

As the Heading implies. Honda the giant of Japanese automobile now accept bitcoin and ethereum for payment through a third party partnership deal with a blockchain payment system called FCF Pay.
Honda not only taken the bold step of accepting crypto as payment option, also managed to expand their already huge user base with this important development.

Source

Honestly, it has been a while I last heard a beautiful news of adoption as regards bitcoin. I remember when the news of bitcoin adoption was so rampant such that every headling is either discussing bitcoin adoption or companies set to adopt bitcoin. I do not actually know what slowed down the adoption, it may not be unconnected with the prolonged bear market.

Now that Honda has reminded us again that bitcoin global adoption goal is still alive, let's hope that other competitors will adopt bitcoin as well. I have a strong feeling towards Chevrolet and maybe the controversial Tesla and Elon Musk.
I also know that if the coming bull run does not fail, many companies will adopt bitcoin.

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Quote from: Eternad on October 02, 2023, 12:04:04 PM

Quote from: Bitstar_coin on October 02, 2023, 11:31:49 AM

With such an opportunity to spend btc to buy luxury cars-
*Will you be willing to spend your btc to buy car from Honda? Or any other automobile company that will follow the Honda's part?

No, Bitcoin is my investment and I definitely don’t want to exchange it to a liability such as car that depreciates value over time. Exchanging fiat to Bitcoin will charge tons fee considering the amount involved is equals car value.

I’d rather use fiat or car loan to pay it slowly instead of liquidating my Bitcoin investments just to purchase car. This payment method is interesting if they can provide discounts exclusive for Bitcoin payment. With this benefits, I might spend my Bitcoin but in terms basis not one-time payment because I value my Bitcoin investments.

But you may have a choice to use it directly if you want to buy cars from them since sometimes its eating up our time and we need to deal with certain fees if we want to cashout our money then use fiat to buy car. And for this adoption they do it made easier to bitcoin and ethereum users to deal easily with them. Its up to you if this idea is not ideal. But for other who save just to have money to use to buy their first or extra car then they have now a good option to choose.

I wonder what next big companies will announce it since Honda is big manufacturing company. For sure there are more companies will follow the steps they do especially if this will result to huge sales to them.

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Quote from: Bitstar_coin on October 02, 2023, 11:31:49 AM

With such an opportunity to spend btc to buy luxury cars-
*Will you be willing to spend your btc to buy car from Honda? Or any other automobile company that will follow the Honda's part?

If I have the fund why not?

Quote

*Which other automobile company would you want to also accept btc for payment?

Would be great if all will accept BTC for payment

Quote

*Is this news big enough to trigger market uptrend in the coming weeks, months?

This might be one of the reason why the current Bitcoin price rallies from $26k to almost $28k, but I think this is the extent of the effect of the hype of this news. I read that the implementation was around Sept. 27 last month, so it is quite logical to think that the current Bitcoin rally might have something to do with the effect of this news.

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Quote from: Bitstar_coin on October 02, 2023, 12:47:47 PM

Quote from: avikz on October 02, 2023, 12:10:57 PM

In which country it is happening? I am sure Honda cannot extend such crypto support in all countries they operate. Government regulation plays a big role here. So while it's a good news that Honda has started accepting cryptocurrency payment it's Limited to some certain countries.

But honestly it doesn't make sense to spend cryptocurrence is like Bitcoin to purchase a liability asset like a car.

In Japan I guess according to the article, since this is very new I believe it will only be within that location until maybe other countries government decided to expand their options and embrace crypto transactions legally.

At least it is a move on the right direction, after all people have been asking recently when Tesla was going to accept bitcoin payments again and lambos are also a favorite among those which have earned a massive amount of money out of their bitcoin investments, still a brand like Honda accepting bitcoin is probably a better option as it is a known brand which builds reliable cars which are way more affordable, and we could see more people buying them with bitcoin than those luxury brands people often dream about.

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Quote from: Bitstar_coin on October 02, 2023, 04:02:44 PM

Quote from: tabas on October 02, 2023, 03:17:58 PM

Quote from: Bitstar_coin on October 02, 2023, 12:47:47 PM

In Japan I guess according to the article, since this is very new I believe it will only be within that location until maybe other countries government decided to expand their options and embrace crypto transactions legally.

AFAIK, Japan is a crypto friendly country and having this company as their wing in the automotive industry then that means that these huge companies have no problems anymore using third parties if someone wants to pay them crypto. It's like that we're going to see this type of adoption coming from the corporations that don't accept crypto yet. It is ideal for them to protect their sales from the volatility and have the crypto converted into their currency as soon as possible when they receive the payments. Now, who's going to be the part of this history that will do this purchase of his/her Honda car through crypto -> FCF Pay?

Yeah I believe this is a choice those who wants to spend crypto on real goods and don't mind going through kyc will have to make. Because the third party partner is centralized and will definitely abide by all rules regarding kyc.

The price of their cars aren't just like the goods that we purchase in the grocery stores and that's why they'll for sure be subject to kyc, those who will purchase it through cryptocurrencies. Honestly, it's better if they'll just accept it directly but then this is all about business and decisions and they do understand the volatility that receiving payment in cryptos will be. That's why this is the solution for those loyal customers of theirs if they insist of paying them in crypto. At least now, they've got an option to pay for it and that's an additional payment method for them.

Quote from: Bitstar_coin on October 02, 2023, 04:02:44 PM

Still put crypto and btc most especially in the public eye. This will create more awareness than already existing.

I agree, knowing that they're a known brand and they've got millions of customers globally. That adds to the exposure that crypto and Bitcoin mainly through them if they have announced it already.

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Quote from: Bitstar_coin on October 02, 2023, 11:31:49 AM

As the Heading implies. Honda the giant of Japanese automobile now accept bitcoin and ethereum for payment through a third party partnership deal with a blockchain payment system called FCF Pay.
Honda not only taken the bold step of accepting crypto as payment option, also managed to expand their already huge user base with this important development.

Source

With such an opportunity to spend btc to buy luxury cars-
*Will you be willing to spend your btc to buy car from Honda? Or any other automobile company that will follow the Honda's part?

*Which other automobile company would you want to also accept btc for payment?

*Is this news big enough to trigger market uptrend in the coming weeks, months?

** NO i wouldn't really be touching up my precious coins on buying a car on which you could possibly make use of your fiat directly. We arent that blind on not to see its potential.
** Mitsubishi, Toyota, Isuzu, Ford, Mazda etc.. Or better all.
** News like this doesnt always give out such significant impact but any news that correlates with adoption then its always that shows that we are really that
heading on global adaption.

As long payment options been added up with those crypto things then it would really be always a good news but dont really expect that majority
of crypto holders would really be making use of their coins on buying something that they can do with fiat. We know the potential profits that we could generate
with these coins and its never been that ideal on trying to waste it up on something but cant deny that this news is really that bullish.

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Quote from: Lida93 on October 02, 2023, 01:37:14 PM

Saw this on X (twitter) and was like wow, what is Elon Musk waiting for? There are people like me waiting for Tesla cars to start selling in bitcoin before we can give an interest in purchasing it. Lol. Grin

If this go globally, or Honda is starting to implement this across regions Elon must be crazy enough to follow this through with the use of other cryptocurrencies. He's a billionaire, he don't mind accepting crypto as payment even if it does not benefit him monetary, that's how he is, he's a player. But Imagine paying bitcoin to get a tesla, get electronic car for internet money, what a world!

Quote from: Lida93 on October 02, 2023, 01:37:14 PM

I wouldn't stack and hodl BTC over the past years just to use it all in purchasing a car, I'll rather buy a house of mine with btc at this phase, maybe in time to come i may see cogent reasons to expend my crypto on car's.

You can do that if someone sells their house for crypto. At the end of the day, your crypto is money, and you got a full control over it. Don't be mad when I buy a Honda Type-R with my 3 BTC Grin

Quote from: Lida93 on October 02, 2023, 01:37:14 PM

I welcome the initiative of Honda company but IMO, cryptocurrency like bitcoin and ethereum are value growing assets and should be expended on things and products that adds value over time. At least not for now.

I think what Honda is doing right now is they are trying to enter a new market, where they can see profit. They won't do it if it's not for the money, at least for their brand relevance. Wouldn't be surprise if they cancel this after a year.

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Quote from: Bitstar_coin on October 02, 2023, 11:31:49 AM

Is this news big enough to trigger market uptrend in the coming weeks, months?

Honestly, I am not surprised about the Honda automobile accepting Bitcoin and Ethereum as payment. This is something that is inevitable and we always see when the crypto halving effect market approach. What should be our major concern before we celebrate this type of news is that.

Is the company into this for real, or do they just want to make a profit from BTC and ETH during the total bullish market and exit the market?

There is news going around on Twitter about Apple announcing it's buying BTC and Microsoft building a Bitcoin wallet according to the company's leaked roadmap.

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Good news.

Quote from: Bitstar_coin on October 02, 2023, 11:31:49 AM

With such an opportunity to spend btc to buy luxury cars-
*Will you be willing to spend your btc to buy car from Honda? Or any other automobile company that will follow the Honda's part?

Be full of consideration in spending BTC to buy things like cars, which every year will be launched a new, more sophisticated type.
Honda's acceptance of bitcoin and crypto will not apply to users of Honda technology (cars and motorbikes) who live in areas where bitcoin and crypto are not legal as a means of payment.

Quote from: Bitstar_coin on October 02, 2023, 11:31:49 AM

*Which other automobile company would you want to also accept btc for payment?

This is part of a business strategy that does not rule out the possibility of automotive companies such as Toyota and Yamaha or Suzuki following in Honda's footsteps in accepting bitcoin and crypto.

Quote from: Bitstar_coin on October 02, 2023, 11:31:49 AM

*Is this news big enough to trigger market uptrend in the coming weeks, months?

IMO, this news could trigger a positive market trend in October which is predicted to be better for increasing market prices.

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Quote from: Lida93 on October 02, 2023, 01:37:14 PM

Saw this on X (twitter) and was like wow, what is Elon Musk waiting for? There are people like me waiting for Tesla cars to start selling in bitcoin before we can give an interest in purchasing it. Lol. Grin

If memory serves me right, Tesla's dropping of bitcoin happened at a time when he was implicating bitcoin mining and its huge carbon footprint which actually caused prices to crash because of his rants that led to temporarily destabilizing some miner operations & I wouldn't be surprised if he had external pressure from the government to drop it...

But now that another car manufacturer has got into this spotlight am certain he would want to steal the headline like he usually does, though he has unfinished business with miners that have gone green and he doesn't want to swallow his words with the 50%+ of miners using cleaner energy..

Quote from: Bitstar_coin on October 02, 2023, 11:31:49 AM

As the Heading implies. Honda the giant of Japanese automobile now accept bitcoin and ethereum for payment through a third party partnership deal with a blockchain payment system called FCF Pay.

However we interpret this, this is bullish news, and our markets need a break from all the negative news of hacks that have been happening of late that has slowed down the growth of our markets...the revolution must continue.

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Quote from: tabas on October 02, 2023, 03:17:58 PM

Quote from: Bitstar_coin on October 02, 2023, 12:47:47 PM

In Japan I guess according to the article, since this is very new I believe it will only be within that location until maybe other countries government decided to expand their options and embrace crypto transactions legally.

AFAIK, Japan is a crypto friendly country and having this company as their wing in the automotive industry then that means that these huge companies have no problems anymore using third parties if someone wants to pay them crypto. It's like that we're going to see this type of adoption coming from the corporations that don't accept crypto yet. It is ideal for them to protect their sales from the volatility and have the crypto converted into their currency as soon as possible when they receive the payments. Now, who's going to be the part of this history that will do this purchase of his/her Honda car through crypto -> FCF Pay?

Yeah I believe this is a choice those who wants to spend crypto on real goods and don't mind going through kyc will have to make. Because the third party partner is centralized and will definitely abide by all rules regarding kyc.
Still put crypto and btc most especially in the public eye. This will create more awareness than already existing.

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Quote from: Bitstar_coin on October 02, 2023, 11:31:49 AM

...
As the Heading implies. Honda the giant of Japanese automobile now accept bitcoin and ethereum for payment through a third party partnership deal with a blockchain payment system called FCF Pay.
Honda not only taken the bold step of accepting crypto as payment option, also managed to expand their already huge user base with this important development.

Source

With such an opportunity to spend btc to buy luxury cars-
*Will you be willing to spend your btc to buy car from Honda? Or any other automobile company that will follow the Honda's part?

*Which other automobile company would you want to also accept btc for payment?

*Is this news big enough to trigger market uptrend in the coming weeks, months?

In my country, Honda is the motorbike manufacturer with the largest sales, followed by Yamaha which has the largest sales of motorbikes, so news like this is good news which of course can influence the adoption of Bitcoin and other cryptocurrencies in the future. However, I am skeptical that payments vis crypto will be permitted by the government of my country, because in my country crypto currency cannot be used as a transaction tool, it can only be traded as a commodity.

As Honda's tough competitor, I'm sure Yamaha will not remain silent, they definitely won't want to be left behind by Yamaha, so I predict Yamaha will follow in Honda's footsteps (accepting payments via Bitcoin and cryptocurrencies).

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Quote from: Bitstar_coin on October 02, 2023, 12:47:47 PM

In Japan I guess according to the article, since this is very new I believe it will only be within that location until maybe other countries government decided to expand their options and embrace crypto transactions legally.

AFAIK, Japan is a crypto friendly country and having this company as their wing in the automotive industry then that means that these huge companies have no problems anymore using third parties if someone wants to pay them crypto. It's like that we're going to see this type of adoption coming from the corporations that don't accept crypto yet. It is ideal for them to protect their sales from the volatility and have the crypto converted into their currency as soon as possible when they receive the payments. Now, who's going to be the part of this history that will do this purchase of his/her Honda car through crypto -> FCF Pay?

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Quote from: Bitstar_coin on October 02, 2023, 11:31:49 AM

With such an opportunity to spend btc to buy luxury cars-
*Will you be willing to spend your btc to buy car from Honda? Or any other automobile company that will follow the Honda's part?

*Which other automobile company would you want to also accept btc for payment?

*Is this news big enough to trigger market uptrend in the coming weeks, months?

This news is not big enough to trigger the market, but it will have a good impact on the market if combined with others. Honda is not a small company it has a big inflow of money and they have huge sales, but who knows how many BTC users are their customers. But the thing is, those who are well educated and know the potential of BTC are saving it.

They might not consider the Honda over BTC. But if the Honda is good enough and a person loves it then there is no cost of passion and a person will not hesitate to sell his BTC to buy Honda. But to be honest, that deal will be the one of loss.

I will buy Ferrari or Honda Civic but I don't have enough money either in BTC or in Fiat. Overall, they made the right choice of accepting in BTC because many people who have funds in BTC and want to buy Honda they will have 1 benefit of the moment.

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Quote from: Bitstar_coin on October 02, 2023, 11:31:49 AM

*Will you be willing to spend your btc to buy car from Honda? Or any other automobile company that will follow the Honda's part?

I will not, because each person has their own flavor of investment, and in my opinion investing money on Honda in the form of BTC (that I have accumulated as an investment) is a total waste of BTC and Honda will be a liability. And I don't want that. Because, if we talk in the sense of investment then Honda is going to make huge expenses but BTC will lie there. And the Honda will eat enough of my money while the BTC will not.

And if I just have to buy a Honda car (despite the context of Investment) then It does not matter whether we buy with BTC or with Fiat. Let's say Honda is worth $28k and 1 BTC is also worth $28k or you have $28k in fiat. What would you do, if you bought with 1 BTC then the BTC was gone and the car came? But if you will buy with Fiat then your fiat is gone and Honda comes. In both scenarios. 1 BTC and $28k fiat (worth 1 BTC) are both gone.

Which means, it does not matter anymore. And I will not prefer the company of the car I am buying from, I value my BTC so I am going to buy BTC more, But if I have to buy a car I will try to find a good one that will not become a liability.

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Quote from: Lida93 on October 02, 2023, 01:37:14 PM

Saw this on X (twitter) and was like wow, what is Elon Musk waiting for? There are people like me waiting for Tesla cars to start selling in bitcoin before we can give an interest in purchasing it. Lol. Grin

I wouldn't stack and hodl BTC over the past years just to use it all in purchasing a car, I'll rather buy a house of mine with btc at this phase, maybe in time to come i may see cogent reasons to expend my crypto on car's.

I welcome the initiative of Honda company but IMO, cryptocurrency like bitcoin and ethereum are value growing assets and should be expended on things and products that adds value over time. At least not for now.

I understand it's an investment mindset, but besides you, there are others who have goals like buying a vehicle, a laptop, shoes, or anything else they desire with the profits from their Bitcoin investments. Purchasing a car with Bitcoin isn't an issue, let's say your dream Honda currently costs 0.5 BTC, and you only have 0.3 BTC, meaning you need to accumulate another 0.2.

However, due to a significant BTC price pump triggered by a major event, the Honda's price drops to 0.28 BTC. I see this as an opportunity to attain your dream item with the hard-earned gains you've gathered. There's still a balance that can cover other expenses.

I prefer to view this as a chance from a different perspective. And for sure, with broader adoption by major corporations, Bitcoin's position as an alternative currency will be strengthened.

Topic: Honda Now Accepts Bitcoin and Ethereum As Payment Methods - page 5. (Read 710 times)