Forums

I want to buy a roadster with cryptocurrency

I want to buy a roadster with cryptocurrency

Hello,

I did contact your sales department, I want to buy a roadster with cryptocurrency - specifically Ethereum but Bitcoin upon a push.
Not only do I think blockchain will change the world for the better but I think Elon should have some.

So Elon if this offer is up your ally please get in touch.

- TC
Gibraltar.

reed_lewis | 21 mars 2018

Ok, but how does Tesla pay their suppliers and employees using cryptocurrency? Nobody else accepts cryptocurrency so Tesla would have to convert the cryptocurrency into US dollars. So why don't you just convert it to US dollars instead and then buy the car?

I fail to see the advantage of purchasing a car that way. To me it is a 'solution in search of a problem'.

Furthermore, Tesla does not respond to messages here.

SCCRENDO | 21 mars 2018

Good luck

ulrichard | 21 mars 2018

You are not alone.

I bought a used S from a private individual, because Tesla wouldn't accept BTC and importing from Finland was too much trouble.

Lots of people want to buy Tesla cars with crypto currency. Just look at these:
https://zeronet.mpa.today/0gallery.bit/?!/g/1EHrpXd3f6CyKooBFtpLhdFk5C3b...

Dell also accepts BTC, but they use a service provider that instantly converts to offline money.

RedShift | 21 mars 2018

Dope.

rxlawdude | 21 mars 2018

TEA Score 100.

lilbean | 21 mars 2018

I want to buy one with Chuck E. Cheese tickets.

TabascoGuy | 21 mars 2018

@lilbean - Ha ha, you may be spending way too much time at the mouse house if you have enough of those tickets to buy a Roadster ;)

Tropopause | 21 mars 2018

Very funny, lilbean! Spend those Chuck E. Cheese tickets quickly! They don't keep up with inflation.

lilbean | 21 mars 2018

Haha! Too funny, @TobascoGuy! :)

RedShift | 21 mars 2018

What an awesome technology - each bitcoin operation takes as much energy as an average US house for a week.

https://motherboard.vice.com/en_us/article/ywbbpm/bitcoin-mining-electri...

Yeah, Elon’s gonna love it. It’s right up his ‘ally’.

Dope.

ulrichard | 21 mars 2018

@RedShift Then you probably also believe that electric cars pollute more than diesel. Come on, we should be intelligent enough to spot FUD from incumbent actors.

Jack Dorsey expects bitcoin to become the world's 'single currency' in about 10 years
https :// www. cnbc.com/ 2018/03/21/ jack-dorsey-expects-bitcoin-to-become-the-worlds-single-currency-in-about-10-years .html

ulrichard | 22 mars 2018

@lilbean

Can you show me something similar to coinmap for Chuck E. Cheese tickets?

http://coinmap.org/#/map

nadurse | 22 mars 2018

To me this is the exact problem with crypto at this point in time there's no tangible, fixed value. There's no real metric that ties back to the value of the currency aside from that 'well a bunch of people are using it'.

So how does a business accept this currency that has essentially no intrinsic value in exchange for a good that does have a lot of intrinsic value and costs that go into producing it? I know there are some companies doing it, but I just dont see how its a good business move, unless you are just betting that whatever particular crypto will take off in value. But thats really just gambling, not a sound business decision. I think if you are in a different kind of business that is more service or subscription based and has a lot less fixed costs associated with the product then it could be worth that risk, but probably not a wise choice for someone in the manufacturing space.

I think crypto will definitely be in play in the future and has loads of potential, but until some entity with vast intrinsic value is willing to back the crypto of choice only then will it become mainstream.

reed_lewis | 22 mars 2018

@nadurse - I completely forgot about that issue. Cryptocurrency has no fixed value. One day Bitcoin might be work $10K US dollars, and a week later it might be $5K US dollars. How the heck is a company supposed to accept cryptocurrency when the value of that currency might drop in half a week after accepting it for a purchase of physical tangible goods.

There are minor fluctuations in different currencies around the globe (for example here is the US/Canada exchange rate: http://x-rates.com/graph/?from=CAD&to=USD&amount=1 ) but the difference is within 3-5% Not 100%

carlk | 22 mars 2018

In theory if a cryptocurrency can replace entire world's money supply it will be very stable. No one has the ability to manipulate it like people now do with bitcoin or any currencies anymore. The problem is we will never be reaching that point without it crashes thousands of times because people will manipulate it. The closer it reaches the goal of full replacement the worse those crashes would affect us.

ulrichard | 22 mars 2018

@nadurse

The price movements are only a problem or an opportunity if you hold em.
Since fixed currency exchange rates were dropped about 50 years ago, this is a common problem. I didn't see Tesla cars with a price tag in USD in Europe.
As long as you use Bitcoin as a simple payment mechanism through a payment processor you get fixed FIAT money with less fees and increased reliability than using CC.

What is your definition of intrinsic value anyway?
So your ideal currency would be the Venezuelan Petro?

RedShift | 22 mars 2018

@ulrichard

“You probably believe electric cars pollute more than diesel cars”

No, I know they don’t. What you don’t want to address is my point : bitcoin transaction use a LOT of energy. Where that comes from is immaterial.

Like I said, you guys are dopes.

ulrichard | 22 mars 2018

@RedShift
Here are some discussions about Bitcoin energy consumption:
www . you tube.com/watch? v=2T0OUIW89II
blog.bitmex. com/mining-incentives-part-2-why-is-china-dominant-in-bitcoin-mining/

If by "dopes" you imply that Bitcoin can be used to buy drugs. Yes, people say so. Some research suggest it is as much as 1% of its usage. Maybe it's the same with the USD. Who knows.
It's the same argument as to say the internet is only for porn.

nadurse | 22 mars 2018

@ulrich,

Intrinsic value means that some entity with vast assets says that its worth something, like a stable government or a global corporation, bank or the like. I'm not talking about a gold standard or whatever your point is with a venzuelan petro. Right now nothing gives bitcoin value aside from just some people saying oh its valuable because you can only have 21 billion of bitcoins ever; theres no backing to it. Moreover, bitcoin can easily be replaced by whatever flavor of the month cryptocurrency there is or one that hasnt even been created yet. Its good for people to people interactions and service industry or the like.

Crypto has a lot of potential, but for right now its too VOLATILE to set prices against items with large intrinsic values and fixed costs like a car. If you are an individual and are willing to deal with crypto then fine thats up to you to take that risk, as business like Tesla it would be an unnecessarily risky decision.

And to your point about converting soon after the purchase thus lowering that risk (but nowhere near eliminates it), why would Tesla bother with that? Why wouldnt the individuals just do that themselves? One more complication for the business to deal with. They obviously have no problem getting people to buy their cars, its not like they need to further entice the crypto community to bump their sales. The demand in the US and globally far exceed the cars the cars they are producing.

reed_lewis | 22 mars 2018

The OP is gone and has not come back. I am interested in why the OP wants to buy a car with crypto currency? Is there a specific reason other than he either has it, or can mine it or what?

reed_lewis | 22 mars 2018

Bitcoin transactions do not take a lot of energy. Mining them does, but the transfer of them is not energy intensive.

reed_lewis | 22 mars 2018

...And has been said, just convert the cryptocurrency to US dollars and buy the car. Easy.

RedShift | 22 mars 2018

@ulrichard

Here is the Arstechnica article that explains in detail:

https://arstechnica.com/tech-policy/2017/12/bitcoins-insane-energy-consu...

BTW I am in power analysis field for semiconductors. I know pretty well the energy costs in a way most people don’t.

I call people doors when they don’t grasp the full implications of a new technology and are happy to hype it up to ridiculous levels, like folks claiming ‘block chain can be used to combat global warming. ‘. Wasn’t that you, a while back?

Software folks rarely delve into exactly what the energy costs are for their actions in software level.

RedShift | 22 mars 2018

Dopes not doors

RedShift | 22 mars 2018

@reed lewis

True, mining takes more than regular transactions. Read the link I posted though. It goes into details of what the costs are for energy.

RedShift | 22 mars 2018

Allegedly, nVidia’s revenues consist up to 40% from crypto currency mining and transactions. Their GPUs are used in arrays to mine the stuff.

To be honest, the shift in general towards moving the complexity up the abstraction layer into software from hardware (ASICs) is anyway going to result in more and more power inefficiency.

Bitcoin and others are just the worst examples of it.

SCCRENDO | 22 mars 2018

Can one of you smart guys explain exactly why the mining process uses so much electricity. Is it the volume of computers involved? At present I know enough about it that I am staying away from it. But would like to be further educated.

ulrichard | 22 mars 2018

Does anybody know how much energy is consumed by fraud detection at banks and credit card companies? That stuff runs machine learning on massive super computers and is only required because they have no proper security model. With Bitcoin you don't need that, because the waitress doesn't get all the information to spend further from your account.
Sure, it would be cool if proof of stake or something alike worked. That would reduce the energy consumption by a lot. But it's like perpetual motion, highly desirable, but very hard to achieve.

@nadurse So you are saying, the bigger an institution grows, the more trustworthy it becomes. So the most trustworthy companies must be the ones that managed to reach a monopoly? If that is so, then I definitely missed something.
The idea of Bitcoin is the opposite, it is about cutting out the trusted third party. It is about transacting directly peer to peer.

We had a fair share of stable coins already. I can understand the desire for a crypto currency that fluctuates less. But then what do you peg it to, and who controls it? That either introduces way too much complexity or reintroduces a trusted third party. To keep the properties that make Bitcoin so trustworthy, it was required to have the open marked discover the price. Unfortunately that led to speculation. An unavoidable side effect. We just have to wait a little longer for it to stabilize.

Yes Blockchain clearly is still over-hyped. Smart contracts especially are very interesting, but I still wait for the killer use case. On the other hand, Bitcoin was and is the killer use case in and by itself.

ulrichard | 23 mars 2018

With each passing day, it seems as though the conversation on Bitcoin’s energy consumption rages on, though new ground is rarely broken on the topic. Like bears to honey, media outlets flock to FUD stories on mining’s electrical costs and doomsday predictions ....
https://bitcoinmagazine.com/articles/eco-friendly-bitcoin-mining-can-red...

ulrichard | 23 mars 2018

@RedShift Yes I went to hack4climate. I didn't claim climate change would be easily fixed with blockchain. But I think it is worth the effort to explore how credibility that only a blockchain can provide can help address the tragedy of the commons.

nadurse | 23 mars 2018

@ulrich,

No lol, thats not at all what I am saying. It has nothing to do with trust, or monopolies or the like. Im strictly talking about VALUE. There is nothing that substantiates cryptocurrency's value.

I understand the idea of crypto and why its desirable, but its not ready yet still too volatile. You failed to sell me on the upside of Tesla accepting bitcoin or etherum or any cryptocurrency as a payment method, and to be clear by upside I mean whats in it for Tesla to take this additional risk.

RedShift | 23 mars 2018

@ulrichard

Wow. You provided a link that says “ the energy used toile bitcoins can come waste heat from power plants”.

Key word is ‘can’.

See, anything CAN be done. It is only done when it is.

Next, they talk about using hydroelectric power to mine bitcoins. Yes, still not addressing the issue of HOW MUCH energy is consumed. Just moving the sources of energy around doesn’t address the fundamental inefficiency associated with mining crypto currency.

Please, stop astroturfuing and throwing around the word FUD willy-nilly. You are way out of your league. Stick to parlor and party talk about how crypto currency and block chain will change this world for the better.

RedShift | 23 mars 2018

To follow up, how do they propose to even change sources of power for mining, like switching to ‘waste heat’? Thousands of computers in various geolocations can’t all be switched to using a particular power source like ‘wasted heat from power plants’. There have been even incidents where unsuspecting people had their computers hacked and used for mining crypto currency when they logged into a public WiFi in Brazil.

Talk about high falutin notions.

NoMoPetrol | 25 mars 2018

Maybe if cryptocurrencies adopted the gold standard...oh, wait, I think Spain tried that in the 16th century and the rest of the world followed their lead. Then, when there wasn't enough gold to go around several centuries later, all global currencies took an Einstein-like turn towards relativity.

Besides, have you considered the possibility that the US dollar is already a cryptocurrency? I mean, how many of you actually brought 80,000 actual dollars to Tesla the day you took delivery of your vehicle? That's right. Tesla doesn't accept cash. When was the last time you could actually put your hands on even a small percentage of your supposed net worth? And I'm not talking about rolling around on the grass in your front yard.

The only thing that gives the dollar, the Euro or any other currency intrinsic value is the faith of all its users that such value exists. Just something to think about.

Uncle Paul | 25 mars 2018

Some people would prefer to use crypto currency to buy things like a Tesla. There is no record or accessable trail as to where the money came from. Wife does not know, Government does not know, bank does not know, criminal justice department does not know. IRS does not know, stockholders do not know, business partners do not know. It just magically appears or disappears.

reed_lewis | 26 mars 2018

OK. But the car needs to be registered to be able to be driven in the USA (and most countries). So it is quite difficult to hide that you have a Tesla now.

Plus the cash necessary to purchase a Tesla could be supplied in a bank check which you get from a bank using cash. In fact I submit that cash is even less traceable than cryptocurrency. No one knows where the cash came from. OTOH with the ledger, anyone can see where the bitcoin comes from using the ledger. See this: http://www.sciencemag.org/news/2016/03/why-criminals-cant-hide-behind-bi...

So bitcoin is much less 'private' than simply using good old cash.

reed_lewis | 26 mars 2018

For example, I could easily scan the blockchain for transfers equivalent to the price of a Tesla, or even for transfers to Tesla's destination address. Therefore I know everyone's bitcoin address who purchased a Tesla. Then I merely cross reference that with registration records, and I now know the identity of each bitcoin address because of publicly available information. Remember bitcoin identities are private, but the transactions are public.

Sornint | 28 mars 2018

BTC value keeps dropping! I wonder if this is just a continuous dip or no.

Tropopause | 28 mars 2018

When Elon’s future of robots-replacing-every-single-human-job occurs, money/currency might very well be obsolete. Get out now and buy!

ulrichard | 3 avril 2018

@RedShift You are going to like this one:
"By 2020, More Than 30% of World’s Electricity Consumption Will Be Spent Explaining Bitcoin"
https://supporters.eff.org/civicrm/mailing/view?id=2791&reset=1

Yes CAN. So Bitcoin is not perfect from its inception. Few things are perfect in life.
Our cars CAN also be charged with 100% renewable energy. But if some people charge their cars with energy from coal plants, does that make the whole E.V. movement evil and unnecessary?

Here is another good article about PoW:
https://medium.com/@hugonguyen/proof-of-stake-the-wrong-engineering-mind...

RedShift | 3 avril 2018

@ulrichard

I went through your links. The first is written like satire, the second, an unrelated (to this topic here) article about how critical crypto software is.

So if I may drill down to your core point, which is to equate crypto currencies with EVs, I think EVs offer a value prop that is much higher than ICEs. Crypto currencies offer a way to pay for things potentially anonymously. Their value prop is much less tangible.

Anyway, I’m done with the topic.

mattykolej | 1 juin 2018

I think that we shouldn't wait for bitcoin payments. We definitely would have to sell BTC and pay with fiat money. But I don't see anything bad about it because there are a lot of ways to exchange cryptocurrency and if you are interested you can read more about it on ICO Pulse https://icopulse.com/blog/how-sell-bitcoin-canada/ .

mercc3650 | 15 juin 2018

For OP- TSJC

If still interested and want to purchase a Roadster 2 with BTC at current prices, PM me

You don't have to put down the 50k as I have put a deposit down. I might be eligible for the Founders edition later (if more becomes available or current Founders reservation holders decide to cancel their order). This is how I got my Sig Model X (was on a wait list and someone cancelled).

Info about this can be found here

bitcoin-tesla-roadster-2.webnode.com

glassyvibesound | 10 septembre 2018

For me that's amazing that people use cryptocurrency as a payment method to buy such an expensive stuff like cars but nearly no one knows how things work. I mean, people know that blockchain is a bitcoin-related tech but if you ask for an exact definition, you won't get an answer. And it's even more ridiculous when people use Bitcoin and don't know a thing about the technology that stands behind while you just can have a quick look on this article for example - https://blog.s-pro.io/blockchain-technology-explained/ and find out what blockchain is.

blue adept | 11 septembre 2018

@tsjc

There is no 'material' basis for cryptocurrencies, ergo, it is ridiculous to expect the ability to purchase material assets (such as a Tesla Roadster in particular) with what is little more than baseless, immaterial speculation regardless of the amount of hype there might be behind it.

ulrichard | 13 septembre 2018
DTsea | 13 septembre 2018

cryptocurrency blockchain mining consumes ENORMOUS amounts of electricity. so i dont think Tesla, with its environmental driven mission, will support that.

blue adept | 13 septembre 2018

@DTsea

+1

ulrichard | 14 septembre 2018

Mining consumes way less than heating and cooling bank buildings, let alone the fraud detection that Bitcoin renders obsolete.

The incentives for mining are so that miners go to where the energy is cheap. The cheapest energy is the surplus. This in turn happens only with renewable energy. When the sun shines or the wind blows, and nobody needs that energy, just use it for mining. No resources wasted! This mechanism does not work with dirty energy.

Pages