Model S bought with BitCoins!

Model S bought with BitCoins!

Well, here is a first...

Starting to wonder if it is time to get into this BitCoin craze. The volatility alone should be worth something!

Mathew98 | December 5, 2013

That sounds suspect. TM itself wouldn't consider anything other than certified bank checks or cash.

How did a Lambo dealer get a hold of a P85? So a P85 owner would wait for months to get one built, sell it at a loss and get a new Lambo?

Mathew98 | December 5, 2013


RBats | December 5, 2013

@Mathew98 - Not sure why you think they can't get a hold of a Tesla. I know a few people who get bored with their new toys quite easily/quickly and trade up to something else. Possible that happened in this case. Although, IMHO, I think it is trading DOWN to anything from a MS!

Also, they seem to have got hold of another one for sale - VIN 5700.

Theresa | December 5, 2013

Has anyone read the fine print in the link that RBats posted? They state they are a "dealer" for Tesla.

RBats | December 5, 2013

@Theresa - good catch! Just saw that. "Leading Tesla dealer", no less!

Navi | December 5, 2013

That would be strange, Tesla doesn't have 3rd party dealerships..

Bighorn | December 5, 2013

I recently read that $15M of electricity is used daily mining new bitcoins--that's a lot of MS miles!

Roamer@AZ USA | December 5, 2013

There was a time I would have drooled over the Lambos on that site. Now all I notice is the absolute crap gas milage. Tesla has ruined me. May have to take the P85+ out for a dose of warp speed.

SMinnihan | December 5, 2013

Mathew98 - has 20 used Teslas for sale.

Gizmotoy | December 5, 2013

@Bighorn: That's my main concern with Bitcoins. So in exchange for using (wasting?) electricity, I earn money? Wha?

Mathew98 | December 5, 2013

@SMinnihan - I just can't fathom the idea of "upgrading" from an MS to a Lambo gas guzzler.

It's like drooling over a gorgeous, skinny model and then find out that you were staring at a drag queen during your first date.

logicalthinker | December 5, 2013

Maybe a zero miles (technically used but really new) car dealer Tesla dealer?

Tesla flipping? Buy, get tax credit, sell.

logicalthinker | December 5, 2013

^would be illegal. (in case you wonder)

wolfpet | December 5, 2013

There are plenty of grey dealers in many countries, especially in Eastern Europe. They order from TSLA, then print documentation, do repairs and maintenance and even provide custom made chargers.

blue adept | December 5, 2013

I was unaware that one could purchase actual, real world items with virtual money...Can anyone explain?

And what is this "dealership" business? Isn't Tesla the sole distributorship of the Tesla model lineup?

Captain_Zap | December 5, 2013

Maybe they paid with Bitcoins because they didn't want to be identified as a car dealer when the car was purchased from Tesla.

jmarasigan | December 5, 2013

Isn't the "value" of a Bitcoin limited to whether someone is willing to accept it as a form of payment? Frankly, that is the same limitation that currencies have except that the law provides that it is "legal tender". Otherwise, it is literally just monopoly money.

jbunn | December 5, 2013

Clearly, they could not be a Tesla dealer, but they may very well traffic in used Tesla. No restrictions on that. And by "leading" that might mean they are the only one to have sold a used Tesla in Florida. That might make them "leading". Not a lot of used on the market, although they do exist.

scossa | December 5, 2013

very simple, it's a used vehicle, plenty of those around in Southern California, you pay bit coints and get exchanged in US dollars.

Brian H | December 6, 2013

Check out Dwolla. Different, but similar. No private currency, but 25¢ online transactions (free under $10).

Electricfun | December 6, 2013

I would guess guys driving Lambos aren't very concerned with gas mileage.

PBEndo | December 6, 2013

How is sales tax calculated and paid to the state when the purchase price was in Bitcoin?

thranx | December 6, 2013

@Electricfun: +1

DonS | December 6, 2013

Clearly a gimmick for dealer marketing.

Rocky_H | December 9, 2013

And more detail comes out that it's kind of a non-story. The Lambo dealership had already bought the car from Tesla and were offering it for sale (profit markup). They were contacted by someone who wanted to buy it and was offering Bitcoins as payment. The dealership didn't want Bitcoins, so they told them to convert it to currency. The buyer used the service called BitPay, which lets them pay with Bitcoins on their end, but it wires U.S. dollars to the dealership. (BitPay collects a fee for their converting services.) So the dealership did nothing more than sell a used car for dollars, and the buyer was a person who used the BitPay system to buy something. The headlines and articles were misinformed or misled and sensationalized it. BitPay itself is a really interesting story because it makes Bitcoin actually useful, where you can use it to buy real stuff from businesses that don't normally accept it.

FerGo | January 22, 2014

@ Rocky_H, You're right, that's how many merchants sell.
Teslamotors should implement payment by Bitpay to all customers who have bitcoins. In fact, the CEO of Bitpay has a Model S!

ulrichard | September 13, 2017

Many people would like to buy Tesla cars with Bitcoin. Would be really nice if that became finally possible directly.

Chillviper | September 14, 2017

I met the gentleman who did this transaction, on my marathon trek out of Hurricane Irma's path, at a Supercharger. Very cool dude.

ulrichard | September 19, 2017

There are quite some Tesla cars on the road that publicly show their love for Bitcoin:!/g/1EHrpXd3f6CyKooBFtpLhdFk5C3bqFh...

mattykolej | June 18, 2018

Does anyone know whether this site can be trusted? I mean the information, is the info true to life? I simply would like to use the info in my diploma work, it's what I'm studying - security systems, a really tough theme but I'll do it and won't fail!

lana.hippl | July 2, 2018

Tesla for Bitcoins sounds like fantastic. However, Elon Musk is known for his progressive thoughts, so we can hope to see such deals in future. As for the link, I agree that it’s a suspicious and untrusted offer even despite that Tesla models are used. If anybody want to spend Bitcoins on it, better consider more trusted options like trading or cloud mining (the latter features various bonuses, as well: Yes, there’s always a risk but the offer from the first post is too strange for me.

ulrichard | July 2, 2018

I don't trust neither mixers not cloudmining!

You send your money to an anonymous entity hoping to get other coins back. He could either run with your money, or the site could be operated by the very entity that you try to hide something from. For privacy to reliably work, it has to be part of the protocols. If that is really important to you, Bitcoin might not be the right choice. But also the privacy coins are not perfect (yet).

Cloud Mining:
Lots of cloud mining offers are nothing more than ponzi schemes. If you want to mine, do the calculations first. If you still want to enter the game, buy your own equipment that you have full control of. Then choose a good pool. I used p2pool back in the day, but I don't know if it is still relevant.

bobol | May 2, 2019

Don't know if bestmix is trusted, but I'm using bitcoin mixer if I need to hide my Bitcoin(BTC) balance from random seller when I'm paying with bitcoin. But I think tesla is not a random seller so you are free to use your own address to pay for the car. lol

friendlyfly | December 12, 2019