Spending bitcoins on a car. Car depreciate while Bitcoin appreciates. - page 2.

The Sceptical Chymist

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Quote from: awik p on January 26, 2019, 11:51:10 PM

if you think of it like a pizza seller, at that time BTTC was not worth it, and now it's soaring, of course it's fortunate to be on the seller's side

I think you mean the pizza buyer, and that's the first thing I thought of when I read OP's (very poorly-written) post.

I'd only buy a car with cash, and only a used one. Buying new cars is only for people who have enough money to not care about how much a vehicle depreciates once it rolls off the lot, and I'm not--and never have been--one of those fortunate folks.

Quote from: davis196 on January 27, 2019, 02:39:54 AM

That's why you have to buy a really cheap "second hand" car.Buying a brand new and expensive car with bitcoin is madness. Grin

Just use fiat money for such purchases.

Exactly. Some people really love cars, and I can understand that but it's definitely not my thing. I suppose if I absolutely had to buy a car and only had bitcoin, I'd do it. Otherwise, as I've always said I view bitcoin more as an investment than a currency. I would hate to be that guy who bought the pizza for 10,000BTC looking back at the purchase 10 years later. Ugh.

jademaxsuy

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Quote from: alrose on January 27, 2019, 04:18:16 PM

Comparing these 2 concepts makes no sense.The machine is needed for movement and Bitcoin for investment.Do not forget also that someone bought a bitcoin for $ 10,000. And if we compare with today's price, can we say that bitcoin has aged?

It's the same as buying pizza for bitcoin which is cost a lot money even though the price of bitcoin is base on the present price but still it cost a lots of money which is true. I also confused why the OP compare the car to the bitcoin.

alrose

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Quote from: bitcoinsc on January 26, 2019, 08:49:54 PM

U go to buy a car with bitcoins but to find out ur car depreciate in 3 years. While holding onto bitcoins the value of ur bitcoins appreciate. Just a speculation. Taking risk at an extreme. Trading ur bitcoins for a car. Hah . But Bitcoin doesn't always sky rocket in value every 3 years. Or does it.

Comparing these 2 concepts makes no sense.The machine is needed for movement and Bitcoin for investment.Do not forget also that someone bought a bitcoin for $ 10,000. And if we compare with today's price, can we say that bitcoin has aged?

coolcoinz

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There's a difference between buying your daily commuter and buying a 100k USD swag car. Sure, all cars lose value over time, but this loss is the greatest when you buy a new one. A 5 year old city car, like a VW golf, won't cost you a lot and won't lose a lot each year, but will get you from one place to another pretty fast and pretty cheap.
It all depends on your preferences and such. I wouldn't spend my coins on a car because I don't need it. I have an old one that still works and I don't need the swag.

jademaxsuy

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You don't have to buy car if you don't want to lose money due to bitcoin is volatile. If you really need a car then why not buy car. The car may be depreciate as time goes by but it's not an investment where you buy a car and you earn money.

bitgolden

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Depends on what you use the car for. If you are going to use that car for something that will either save you money or save you time or even help you earn money than there is no point of keeping it in bitcoin.

Assume a person buys a brand new car with all the important stuff and uses it to UBER people around in USA somewhere expensive like New York or something, that person used the bitcoin to buy a business to himself, not a huge business but he both has a car that pays itself and pays the owner income and also costs nothing because fuel is basically paid by the customers. Hence there is really no reason not to buy that car with bitcoin since it would be a wise decision.

Nonetheless, if you are going to buy a car and park it and not use it than yeah its a bad investment.

trader34

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Quote from: bitcoinsc on January 26, 2019, 08:49:54 PM

U go to buy a car with bitcoins but to find out ur car depreciate in 3 years. While holding onto bitcoins the value of ur bitcoins appreciate. Just a speculation. Taking risk at an extreme. Trading ur bitcoins for a car. Hah . But Bitcoin doesn't always sky rocket in value every 3 years. Or does it.

Well, if you buy a car you don't (usually) buy it for an investment, but as a good to use because you need it. And using bitcoin to buy the stuff you need is always a good thing, because it is the first step for mass adoption!

Oceat

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Investing in cryptocurrency is way more profitable than spending it on any luxurious items that don't increase price in the future. Teenagers usually tend to buy luxurious things than thinking about their future. I think it is because of the fame that they wanted so much but they never know that fame comes with a price.

susuberuang

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Quote from: bitcoinsc on January 26, 2019, 08:49:54 PM

U go to buy a car with bitcoins but to find out ur car depreciate in 3 years. While holding onto bitcoins the value of ur bitcoins appreciate. Just a speculation. Taking risk at an extreme. Trading ur bitcoins for a car. Hah . But Bitcoin doesn't always sky rocket in value every 3 years. Or does it.

you better use the bitcoin that you have to buy property so you will use the bitcoin capital that you have for the property business so that from there you will be able to get more profits.

Oilacris

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Having a car is an asset but it will depreciate in the future while bitcoin is an investment asset which will appreciate in the future. Instead of buying things that you don't need right now, why not invest it on bitcoin so that after 3-5 years your investment will give you an enough money to buy a new car. Don't just buy things that you don't want right now because it will going depreciate in value in the future.

NeuroticFish

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Quote from: davis196 on January 27, 2019, 02:39:54 AM

Just use fiat money for such purchases.It's not a big deal.

* Some do get income as Bitcoin and want to cash out.
* Some may need badly a new car (the old one is broken beyond repair).
These are 2 possible use cases for buying a car now for Bitcoin.

When Bitcoin price is high, it's a good way to cash out the investment gains.

There are plenty of use cases for buying a car for Bitcoin. Bitcoin has to become a mean of payment. That's what it was designed for. If everybody will just HODL, we can tell that we misunderstood Bitcoin.
So no, don't "just use fiat money for such purchases".
Better: "Do as you think it's better for you, but keep in mind that Bitcoin is very under priced now (imho!) and maybe the car can wait until Bitcoin price goes up."

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spend bitcoin that you have only for cars it seems that is a step that is not good because by buying a car then you will take care of the car tax every year and surely you will make you become out of money you have, you better still make bitcoin and multiply bitcoin you do trading.

figmentofmyass

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Quote from: bitcoinsc on January 26, 2019, 08:49:54 PM

U go to buy a car with bitcoins but to find out ur car depreciate in 3 years. While holding onto bitcoins the value of ur bitcoins appreciate. Just a speculation. Taking risk at an extreme. Trading ur bitcoins for a car. Hah . But Bitcoin doesn't always sky rocket in value every 3 years. Or does it.

it's all about opportunity cost. what if you need a car to make big bucks commuting to a faraway job?

there isn't enough historical price data to know for sure if it's EV+ or not. it really depends on timing. if you sold near $20k to buy a car, it wouldn't look so bad right now!

talkbitcoin

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All I know is that I know nothing.

if you start thinking like that in your life then you will die of starvation! because anything that you buy may depreciate over time while if you held on to your "money" you could have still have your money and save your value. for example if you don't eat lunch today you can save up the money that you normally spend on launch every day and keep the money instead and become richer!

canadian33

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You need to understand that the price of Bitcoin is not stable. Therefore, you should not be surprised if in 1-2 years it turns out that the price of Bitcoin is 5-10 times higher than it was.
It is necessary to evaluate risks everywhere. This can save a lot of money.

joniboini

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There is no way to judge the decision based only on "bitcoin will rise, car value will decrease". In real life, it's much more complex than that. Some people already mentioned time preference, sometimes people choose to look for short-term happiness instead of long-term or vice versa. It's quite difficult to maintain the balance of this time preference, but in general, the more wealth you are, you'll be able to choose to invest in long-term (hold your Bitcoin) instead of short-term gains (buying a car).

Anyway, even if you buy a car, you can still use it as a tool to get money such as renting your car. While this might not give you crazy return (add that with this depreciation of the value of a car), at least you can sustain your life without risking too much, like when you hold Bitcoin and wait for the bull run.

munareal

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Bitcoin is created as a means of payment but the demand for it has made it into a store of value. Using your bitcoin to buy a car that will depreciate is satisfying the demand for it. It is just like changing the bitcoins into fiat currency to buy the car.

Muzika

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Quote from: biskitop on January 26, 2019, 09:07:52 PM

it's like the story of someone who bought pizza using bitcoin when the exchange rate was still low, so don't be surprised if a few years later the price of bitcoin will be even higher.

this might be the famous bitcoin story, but still dont waste a good coin in the market specially when you want it to spend for a leisure, the best way to counter this kind of market is to trade ang hold for sure when the time comes that the price raise up again you will earn it.

davis196

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Quote from: bitcoinsc on January 26, 2019, 08:49:54 PM

U go to buy a car with bitcoins but to find out ur car depreciate in 3 years. While holding onto bitcoins the value of ur bitcoins appreciate. Just a speculation. Taking risk at an extreme. Trading ur bitcoins for a car. Hah . But Bitcoin doesn't always sky rocket in value every 3 years. Or does it.

That's why you have to buy a really cheap "second hand" car.Buying a brand new and expensive car with bitcoin is madness. Grin

Just use fiat money for such purchases.It's not a big deal.

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Quote from: bitcoinsc on January 26, 2019, 08:49:54 PM

U go to buy a car with bitcoins but to find out ur car depreciate in 3 years. While holding onto bitcoins the value of ur bitcoins appreciate. Just a speculation. Taking risk at an extreme. Trading ur bitcoins for a car. Hah . But Bitcoin doesn't always sky rocket in value every 3 years. Or does it.

Car is a liability so it is not going to make any cashflow into your side,it also causes money going outside from you so you need to buy a car when you have enough assets on your side.Bitcoin maybe considered as a asset but there is no assured return so just understand the risk and decide what you need liability or an asset.

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