Hacker News Reader

Comment by meddlepal | Hacker News Reader

Hard to imagine anyone but Bitcoin true believers doing this. It’s basically throwing money away if BTC continues going up

View on HN

Bitcoin true believers are the ones who wouldn't do this because they believe it will keep going up.

Why? Don't true believers believe BTC has use besides being an unregulated speculative vehicle? So they'd love the normalization of buying something as major as a car with it?

Or are we just admitting that pretense is gone with the wind and now "true believer" refers to the HODL crowd?

BTC true believers believe its a currency not a speculative asset you hold and it magically appreciates in value.

It's not magic:

    Bitcoin is a non-sovereign, hard-capped supply, global,
    immutable, decentralized digital store of value. It’s an
    insurance policy against monetary and fiscal policy
    irresponsibility from central banks and governments
    globally. — @Travis_Kling

Why, then, would you buy a tesla and not bitcoin? A car only depreciates in value.

If you need a car, you need a car. I don't think anyone sees them as an investment other than "an investment in being able to get from A to B on one's own terms"

Are there any Tesla buyers who just "need a car"?

They won't be converting BTC purchases to fiat currency, so no throwing away of money.

Reply on news.ycombinator.com