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0 sats \ 0 replies \ @028559d218 OP 3h \ parent \ on: Need Feedback from my Stackers: Should I spend Bitcoin on a Car? bitcoin
A nice bottle of Cognac sounds about right. I bought some wine for my mom. And some books. Do I regret that? Absolutely not.
And there were the fries and even a milkshake... That is not a car however.
Always straight talk from the Stackers, Stacker News is awesome.
There were/are people who bought cars and crap in 2015. They had that much Bitcoin to be able to spend 10s of thousands worth because 'they could'.
But today? I think most of those people regret it. Some have enough they don't care but most I think wish they had waited.
Thanks for feedback from the Stackers.
Need? No. It's a small sportscar.
Enjoy? Yes.
At this point I'm leaning towards waiting 10 years to reevaluate.
My stance is that we can do the same with bitcoin. Getting started is not as hard as we make it out to be.
I love buying coffee with Lightning... I wish there were more places to do it.
They're not writing for everyone, they're writing to be seen by their superiors who can help them get their next promotion.
+1
It feels that way, but I am not so sure. There is more curiosity in the 'general population' out there than I would have thought. The level of openly showing you're in favor of bitcoin is niche, but more and more people seem to get that there is something going on, and it's not matching the narrative of the anti-bitcoiners.
Stacker News is still a HUGE bubble.
I have been unable to 'orange pill' anyone. Maybe one person but that's only because he's seen the price go up the last year? I don't think he really appreciates the fundamentals yet.
If Bitcoin were down 50% tomorrow I would keep buying it because I think it has a bright (orange) future. But I don't know anyone else like that.
How much is enough? I don't have much btc to begin with :( at least my today's standards :( and people say 'you never have enough' to begin with anyway.
Thank you for your comment.
Yes I am also thinking I don't want to sell the stack... it took me a couple years of stacking and weekly DCA to build it and the exchange rate was lower then...
I don't want to give that up right? 21 million Bitcoin for the next 100 years. And how many cars?
I will look into renting. Sure I will have to divert some of my excess cash/flow/would be able to stack less in that same time period... but there's way less opportunity cost.
There is no way I've seen to spend the Bitcoin 'directly'... so I have to go through filthy fiat first. In other words sell the Bitcoin (a better asset) for Dollars (a weaker asset) which I really don't want to do.
It's a bad trade period, Human consumption needs aside.
Then there's what Bitcoin is 'worth'. Last Nov I postulated that it's worth 400-600K today #765426 and I stand by that.
Why trade a revolutionary thing for plain old dollars that can be printed out of thin air... it doesn't make sense right?
Then there is the reality that as you add mileage to a car its value goes down. That doesn't mean 'don't have fun' and don't drive one... but when you drive a car off the lot it depreciates most of the time.
On top of that there's cap gains taxes. Liquidating enough Bitcoin to buy a car? That's not exactly buying a coffee. We need more education on this issue.
It's the opportunity cost, I think, that's so expensive... as opposed to the car purchase itself.
The opportunity cost may be over the next 10 years more expensive than the car itself.
Thank you for your input.
Real straight talk from stackers. Never sold Bitcoin before so i don't know what it's like/feels like. Appreciated.
Would your stance change if the car dealer accepted bitcoin? And what if they were likely to keep the bitcoin to spend it themselves? What if your buying with btc made them consider the option to keep more on their books in future?
It would help because the increased adoption would be a net positive. that's why i mentioned testing out lighting... as i have. using bitcoin even on coffee is great for adoption and pays huge 'adoption dividends.' So 'paying with bitcoin' is like paying less... because it helps help people become educated / makes the network stronger.
Will spending the money on a toy hurt my future self's finances?
Probably. Short term? No way to know. Long term? Probably.
And will I get more joy out of it today than in x years where I can get the same (or better) for less?
Yes. However humans don't have an infinite amount of time (so they spend/consume regardless).
Now, if I were to drive adoption with my purchase, it would carry some degree of utility forward in time even though the object I am buying has little to none.
Agreed
We need more adoption and a stronger circular btc economy today, not in 30 years.
The education isn't there. The 'general public' has heard of bitcoin... but do they know how it works or how to spend it? No. They have no idea.
Even the 'finance' people who write articles or critique Bitcoin and know it exists have no idea how to use it. They never mention lightning or sites like stacker news.
The level of knowledge among stackers is extremely niche
Thanks I'm glad you appreciate my dry humor. And the truth of my words...
What does Antop have to do with this?
I don't see how real liberals like many of my friends can't embrace the ideas of Alex Gladstein or Anita Posch.
100%
A gay woman and an economic-liberal walk into a bar discussing the HRF (human rights foundation) and what do they promote?
Bitcoin. But I almost never see this
I have a very difficult time talking to anyone I know about Bitcoin. "it's a scam" or extreme skepticism is what is hear.
Or like I don't see that person for a while... and the next time I see them they tell me how they just bought xrp (facepalm)
And liberalism and Bitcoin? Impossible to discuss. Resistance money freedom money are totally alien concepts