Spending bitcoins on a car. Car depreciate while Bitcoin appreciates.

aoluain

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Quote from: Akoldi_ibk on January 31, 2019, 02:10:23 PM

Quote from: bitcoinsc on January 26, 2019, 07:49:54 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.

As far as one is buying the car for a purpose, or for a need, I think it's worthwhile buying it will bitcoin. Though it will depreciate, but it will serve its purpose. And on the other hand, no one really knows what bitcoin price will be like in 3 years. We are just being optimistic and hopefully it favours. Everything in play is a risk

Yes i agree, cars are really a tool, a transportation device to get us from A to B,
I always buy cheap cars and when they are no longer economically viable to run
I buy another cheap car so I wouldnt have a problem buying a cheap car with
bitcoin but I wouldn't buy an exotic car or a car which would loose substantial
value. Personal preferences i suppose.

Akoldi_ibk

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Quote from: bitcoinsc on January 26, 2019, 07:49:54 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.

As far as one is buying the car for a purpose, or for a need, I think it's worthwhile buying it will bitcoin. Though it will depreciate, but it will serve its purpose. And on the other hand, no one really knows what bitcoin price will be like in 3 years. We are just being optimistic and hopefully it favours. Everything in play is a risk

BitBustah

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Some cars hold their value really well and even go up in value especially rare editions. Cars like the Laferrari, f40, Mclaren f1, and others have skyrocketed past their regular purchasing price. Your normal cars like mercedes benz will plummet like a rock though, I always recommend buying used over new.

Muzika

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Quote from: yulchatar on January 29, 2019, 09:46:23 AM

We can't keep our bitcoins forever if we need money or things right now. Of course, later, when the price of bitcoin starts to grow, you will be sorry for the spent cryptocurrency. But during this time you will earn some money with the help of a car or it will make your life easier. Moreover, if we actively use bitcoin, and not store it, it will work and increase its value.

it is hard for someone to keep some coin specially if the person has some needs and wants in their life, even the person wants to store some of it. The best thing to do is as long as you dont need something important do not go for it.

yulchatar

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We can't keep our bitcoins forever if we need money or things right now. Of course, later, when the price of bitcoin starts to grow, you will be sorry for the spent cryptocurrency. But during this time you will earn some money with the help of a car or it will make your life easier. Moreover, if we actively use bitcoin, and not store it, it will work and increase its value.

horrifiedx1

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Quote from: Naida_BR on January 29, 2019, 03:48:32 AM

Quote from: bitcoinsc on January 26, 2019, 07:49:54 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 have a point right here, but you should remember that human lives depreciate as well. We cannot hodl our crypto for a finite period of time. We have somehow to invest and create some value for our lives that will make it a better environment and easier our daily activities.

someone has wants and needs. of course it may be taken if we are able to buy it and take care of it. I think the depreciation value must be there, because car investment is a declining investment. but in terms of function, the car might be able to facilitate our real activities every day. and I think we already know the positives and negatives of that action

gentlemand

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Of course almost all cars are not investments, however comes a time when you have to start spending and not get anal about 'lost gains'. That's how you wind up a millionaire living in a shack underneath a motorway wearing discarded sacks.

If you can afford the car and it benefits your life then you should buy it. We're all going to be dead for an extremely long time. I intend to expire with as little money left as possible.

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Quote from: bitcoinsc on January 26, 2019, 07:49:54 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.

I think it's a bad comparison, maybe other's can consider buying a car a form of investment on his/her side, so it doesn't make sense to look back if ever the price skyrocketed in the next 3 years or so.

As for the pizza guy, he already stated the he doesn't regret buying pizza with 10,000 BTC.

Quote

Cointelegraph: You probably get asked this question a lot, but I have to ask. Since 10,000 Bitcoin is worth around 80 million dollars today, do you ever regret paying 10,000 BTC for two pizzas?

LH: You know, I don't regret it. I think that it's great that I got to be part of the early history of Bitcoin in that way, and people know about the pizza and it's an interesting story because everybody can kind of relate to that and be [like] - "Oh my God, you spent all of that money!" I was also kind of giving people tech support on the forums and I ported Bitcoin to MacOS, and you know, some other things - fix bugs and whatnot, and I've always kind of just wanted people to use Bitcoin and buying the pizza was one way to do that. I didn't think it would get as popular as it has, but it's gotten to be a really catchy story for people.

https://cointelegraph.com/news/bitcoin-pizza-guy-laszlo-hanyecz-on-why-bitcoin-is-still-the-only-flavor-of-crypto-for-him

romero121

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With car you can say promising that the value will depreciate with time. When it comes to bitcoin it isn't that assured. The value might move forward or else it'll go downwards. User need to be prepared enough take risk. When we make a comparison with car I remember an news. When the price was at the peak one bought a house with bitcoin finding the right person. When the agreement of buying was made tbge price was low and when it grew the settlement took place. This gave a big profit to the buyer and with the excess he bought a car. In this way investing on bitcoin might lead to buy big or nothing in no time.

boyptc

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You need to spend for your happiness and dream. If bitcoin is the way to reach that dream car you've been dreaming of for years since when you are a child, it's okay to spend it.

I'll definitely use my bitcoins on held to buy a car soon as long as the market goes on high again. I'll use it for convenient transportation and convenience has its price remember that and at the same time, I'll use it for business.

Max07

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The question was asked - when Bitcoin was at the peak of its price. I think now, many regret that they did not sell bitcoins and did not buy a car. Roll Eyes

Naida_BR

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Quote from: bitcoinsc on January 26, 2019, 07:49:54 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 have a point right here, but you should remember that human lives depreciate as well. We cannot hodl our crypto for a finite period of time. We have somehow to invest and create some value for our lives that will make it a better environment and easier our daily activities.

PlusOne88

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We couldn't say the absolute. Cars depreciate in value while bitcoins go up or down. With a car there is no doubt about it and you might be losing within 3 years as you have said but bitcoin can give you the chances, you can probably earn a lot or may lose more than what you could be losing with a car investment. But if you really had the best inputs about bitcoin status, you might just earn with greater possibilities than a car 3 years after. There is a lot to learn about trading bitcoin that could give us the opportunity to get rich and this is what most people should know.

eroejoe

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If you have Bitcoins to spend, and you do not have a car, or you really need new car, but you do not have fiat. I think that is good trade, because otherwise you could not afford that car.
Right now could be bad timing for that because crypto market is nearing bottom, but consolidation period and bear market could be longer then you can be without that car.

Huskarls

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but the problem is, in bitcoin we don't know how much the price has dropped to what percentage and in how fast it is because we know the crypto decline is very fast if we compare it between 1 year ago and right now. However its only luck if we can see price increases in time we expect.

Crypdon

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Bitcoins are designed to be used for buying stuff rather than a speculative form of investment. If someone is able to buy a car using bitcoins then he or she has done what satoshi has created it for

aceptamosbitcoin

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Quote from: bitcoinsc on January 26, 2019, 07:49:54 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.

While Bitcoin may sky rocker or may not, a car is losing value for sure at the moment you take it out of the shop. This is why a car is considered being a liability, instead of being an asset. Also, bitcoin doesn't require insurance, new tires or oil in those 3 years.

Jesabela04

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Quote from: bitcoinsc on January 26, 2019, 07:49:54 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 is your choice if ever you will use bitcoin to buy something. Do not hesitatw if it is a good investment. It is better to use bitcoin to buy a car rather than to buy a pizza, right? Just don't compare the price once bitcoin price goes higher in the future.

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Quote from: bitcoinsc on January 26, 2019, 07:49:54 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.

Any logic here? If you want to buy car, you pay bitcoins but in value of usd. So as you say if you buy car, then you lose potential of huge money in future. With that logic, don't buy food because if you buy one buritto at the moment, save and you'll be able to buy 3 in future. Out of logic, you have to spend money on needs and save extra (if you have). That saved money you can put in cryptocurrencies and hold them or do whatever you want.

Alexlax

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To be honest, so you can compare to infinity, it does not make sense. If you consider Bitcoin as an investment, then yes, there is no need to buy a "car". If it is just like a currency for payment, then this is good.

The Sceptical Chymist

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Quote from: awik p on January 26, 2019, 10:51:10 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, 01:39:54 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, 03:18:16 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, 07:49:54 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, 07:49:54 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, 07:49:54 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.

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Quote from: davis196 on January 27, 2019, 01:39:54 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, 07:49:54 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, 08:07:52 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, 07:49:54 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, 07:49:54 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.

ufaiz50

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Quote from: bitcoinsc on January 26, 2019, 07:49:54 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.

In terms of economic management, it is a careless act considering high crypto fluctuations, unless you have a lot of bitcoins that can be exchanged with dozens of these cars, but still for me it's not worth, if anyone thinking about story with pizza buyers, I emphasize that the conditions are different now.

Capt00

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If you are willing to buy a car just buy for it using Bitcoin, it's your choice whether you held or just own a car by your Bitcoin right. If there is another option as a payment, use your fiat instead Bitcoin there's no problem there if you know how Bitcoin volatility is. Bitcoin is very profitable in holding long term and patiently wait at the right time but if are hurry in buying a car in your Bitcoin why not.

awik p

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with high volatility, it makes a separate consideration from the seller or buyer to use bitcoin as a transaction tool. I guess basically you won't know where the price will be, by buying at that time it's certainly legal. 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

Jating

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Quote from: bitcoinsc on January 26, 2019, 07:49:54 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.

The fact that you are willing to buy a car using bitcoin as payment system or as a form of money is already a positive thing to do. But if you treat your bitcoin as form of investment then that dilemma sets in.

But if I'm given the choice, specially if I really needed a car, then I will used my bitcoin and not regret even if the price goes to the moon. There are also cases when let's say you buy bitcoin at a cheap price and then the price skyrocket, making you tons of money, then you buy a car, it's already a win-win situation for you.

biskitop

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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.

bitcoinsc

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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.

Topic: Spending bitcoins on a car. Car depreciate while Bitcoin appreciates. (Read 468 times)