BMW dealer in England is accepting Bitcoin

Discussion in 'Mining & Cryptocurrency' started by Nebell, Aug 8, 2018 at 10:04 AM.

  1. Nebell

    Nebell [H]ard|Gawd

    Messages:
    1,249
    Joined:
    Jul 20, 2015
    Note, this is not BMW themselves accepting Bitcoin but a dealer.

    What do you think about this?
    Say you take 7-8 Bitcoin for a 5-series BMW. 8 Bitcoin is currently about $52.000. But if it goes back to its ATH, that would be $150.000 per car.
    It's nice that Bitcoin is slowly but surely getting more and more adoption. Still, most people see crypto as gaining profit instead of the technology.

    Sure the risk is there to lose money, but the reward is much greater making the risk worth it.
    As my favorite analyst says, we cannot predict future, only calculate the probability, and currently, the risk in Bitcoin is so low and the reward so high that it would be too stupid to ignore.
     
  2. Parja

    Parja [H]ardForum Junkie

    Messages:
    12,575
    Joined:
    Oct 4, 2002
    They'll give you a shitty exchange rate and convert it to fiat right away...just like everyone else.
     
    cdabc123 likes this.
  3. oblox

    oblox Gawd

    Messages:
    814
    Joined:
    Nov 27, 2013
    It's all about point-in-time. That's like saying I should be pissed that I spent 11 BTC on three wonderful paintings pack in 2016. The merchant will convert, as already stated and you, as the buyer, can always rebuy your coins...
     
  4. mkrohn

    mkrohn 2[H]4U

    Messages:
    2,257
    Joined:
    Apr 30, 2012
    this... bitcoin is a failure as a currency. Nobody has any reason to do anything but exchange it immediately. A business will not gamble as a part of its business philosophy unless it is a casino.
     
  5. Parja

    Parja [H]ardForum Junkie

    Messages:
    12,575
    Joined:
    Oct 4, 2002
    Casinos don't gamble. Well, not unless you're a big time high roller, at least. They may offer games of chance, but the patrons are the only ones gambling.