Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Metha Wulandarin on July 24, 2024, 03:47:19 PM
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(https://i.ibb.co.com/pKq3B43/IMG-20240724-202647-436.jpg)
This is very good news for Bitcoin and Ethereum, the Ferrari sports car company has started accepting payments with Bitcoin and Ethereum in Europe, although the price of bitcoin and Ethereum is volatile but the interest and development of Ethereum and Bitcoin continues to attract the attention of everyone.
Is it possible that Ferrari already knows that Bitcoin and Ethereum have great potential in the future?
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Is there any proof of that from Ferrari, but not from media ? I have search https://www.ferrari.com/en-EN/ and there is not a single word about cryptocurrency. They could have announced that in their social media, but there I also havent found any proof. In most articles that I have found, it is said that Ferrari only plans to accept crypto. Imo planning does not mean accepting.
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If you are posing about what is related to news, it is better you include the link of the news that you saw it from. This will increase the authenticity of your post. I have seen this online maybe some weeks or few months ago and it sounds not new to me. But I think it was about their plan to accept bitcoin and ether payment.
Is it possible that Ferrari already knows that Bitcoin and Ethereum have great potential in the future?
Is it easy that Backrock and many organizations seek for bitcoin ETF approval? And it has been approved. This is enough to answer your question.
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(https://i.ibb.co.com/pKq3B43/IMG-20240724-202647-436.jpg)
This is very good news for Bitcoin and Ethereum, the Ferrari sports car company has started accepting payments with Bitcoin and Ethereum in Europe, although the price of bitcoin and Ethereum is volatile but the interest and development of Ethereum and Bitcoin continues to attract the attention of everyone.
Is it possible that Ferrari already knows that Bitcoin and Ethereum have great potential in the future?
I think it would be helpful for us if you will include a link for us to check the legitimacy of that statement. But for crypto enthusiasts in Europe who plans to buy a car and if that statement was true then they are now having the chance to purchase using Bitcoin and I wish for some dealership here in my country will do the same so my fellow crypto enthusiasts here also has the same chance as the Europians.
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I think they once announced that they accept Doge. Or is that a rumor? Well, this is very good news for crypto in general. They already understand that there is still more to come for Bitcoin and Ethereum.
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This is very good news for Bitcoin and Ethereum, the Ferrari sports car company has started accepting payments with Bitcoin and Ethereum in Europe, although the price of bitcoin and Ethereum is volatile but the interest and development of Ethereum and Bitcoin continues to attract the attention of everyone.
Is it possible that Ferrari already knows that Bitcoin and Ethereum have great potential in the future?
Let's not pretend like we know better than this Ferrari automobile company on their decision of accepting bitcoin and ethereum for payments.
They must experts and has also consulted before taking the decision. Even the lay man is aware that cryptocurrencies generally is volatile and I don't think it's necessary to question their decision or vision. They already have theirs. We only have to accept that step as a new phase in addy to bitcoin and ethereum in the future.
Indeed that'll also attract patronages and more cooperation with them as addy return to them too. I'll only say congrats to their Wise step on the crypto spheres.
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About 9 months ago, the same company announced that it accepts cryptocurrencies for its luxury vehicles in the US, with a note that the same will follow in Europe. Regardless of whether that moment has come or this is just a rumor, I don't see too much difference in whether some rich person will buy such a car and pay for it in EUR or BTC - because the company will receive fiat to their bank account anyway through the payment processor.
Luxury cars could be bought for BTC in Japan as early as 2018...
MILAN, Oct 14 (Reuters) - Ferrari (RACE.MI), has started to accept payment in cryptocurrency for its luxury sports cars in the U.S. and will extend the scheme to Europe following requests from its wealthy customers, its marketing and commercial chief told Reuters.
A Japanese car dealership that sells used imported luxury cars with showrooms in Tokyo is accepting bitcoin as a means of payment.
Announced by bitFlyer, Japan’s largest cryptocurrency exchange, a partnership with car dealership L’Operaio will see the exchange provide the technology to enable the dealer accept bitcoin from customers.
Customers will need to download and use bitFlyer’s mobile wallet application – available in iOS and Android – to make purchase up to 100 million yen, or just under $1 million, using the world’s first and most prominent cryptocurrency.
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Well, after reading your post and the replies on this page, most users doubt this news. For more fairness, you should insert the link to this news so that we can also confirm it.
If this news is authentic and the company announced such a step, then it will be great news for both currencies and the crypto world. This will be positive news for the market, but I read some replies that mention this news is old and not new. So, if this is a new one, then maybe we can see some positive movements in the market.
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This is very good news for Bitcoin and Ethereum, the Ferrari sports car company has started accepting payments with Bitcoin and Ethereum in Europe, although the price of bitcoin and Ethereum is volatile but the interest and development of Ethereum and Bitcoin continues to attract the attention of everyone.
Is it possible that Ferrari already knows that Bitcoin and Ethereum have great potential in the future?
Let's not pretend like we know better than this Ferrari automobile company on their decision of accepting bitcoin and ethereum for payments.
They must experts and has also consulted before taking the decision. Even the lay man is aware that cryptocurrencies generally is volatile and I don't think it's necessary to question their decision or vision. They already have theirs. We only have to accept that step as a new phase in addy to bitcoin and ethereum in the future.
Indeed that'll also attract patronages and more cooperation with them as addy return to them too. I'll only say congrats to their Wise step on the crypto spheres.
AVE5 I don't think the thread have anything like pointing out the effect of negative aspect of ferrari acceptance pf bitcoin and ethereum as a means of payments in their company, this will definitely not have much negativity about this decision if their accounting team are filled with experts that make use of the cryptocurrency volatile market to position the company assets in a profiting light along the way up.
But all the same, Ferrari as a company has always been a cryptocurrency-friendly company and they have shown a lot of interest in the market in the past this decision also follows that commitment from them.
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Is there a source link for this news? The latest news, I want to read it because it's interesting.
So whether this is an old rumor or a new one that they just announced this has not been crowded on social media X because usually there is always any current news about crypto.
So I'm very curious, maybe I'll find my own source.
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For every news update we are giving, please lets try as much as possible to always include the reference link concerning it, There have been a lot of brands that are now accepting bitcoin, also, we have a lot of the companies and organizations in this same sector that make use of bitcoin for their payment, the more we go the wider bitcoin adoption becomes in all every other sectors of the economy.
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This is not the first time that we heard this kind of news, if I'm not mistaken. But I do think that this could just be one store amongst the Ferrari brand and not just the company per se accepting it.
Because that is the case before when people says it's a welcoming news to see not just Ferrari but big car manufacturing as well but it turns out to be that it's only one branch and most likely they want to boost their sale but we don't know if they are really supporting Bitcoin or crypto in general. So my advise is that we should take this news with a grain of salt, in my opinion.
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Is it possible that Ferrari already knows that Bitcoin and Ethereum have great potential in the future?
at this point, if any brand is not aware of bitcoin or ethereum or just crypto in general then they are already behind of their other competitors
this is not really surprising to me as tesla, another car company, have accepted dogecoin for payments i am sure the team of ferrari have seen this and thought of ways how to one-up tesla crypto is a good investment but most importantly this can also serve as a marketing move and it might be working since we are talking about ferrari after all
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It has been accepting cryptocurrency payments in the US and the list of payments has been expanded.
Accepting a service to deal with Bitcoin will not change the price as quickly as that company’s investment in Bitcoin. If Ferrari buys thousands of Bitcoin, then the impact will be much greater than accepting it for digital payments.
Frankly, I do not see any advantage in buying a car with Bitcoin. It is better to spend money from the bank account on that, especially since the price of Bitcoin may increase in the coming days.
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It has been accepting cryptocurrency payments in the US and the list of payments has been expanded.
Accepting a service to deal with Bitcoin will not change the price as quickly as that company’s investment in Bitcoin. If Ferrari buys thousands of Bitcoin, then the impact will be much greater than accepting it for digital payments.
Frankly, I do not see any advantage in buying a car with Bitcoin. It is better to spend money from the bank account on that, especially since the price of Bitcoin may increase in the coming days.
I don't know... some people might have strict limits on their bank accounts for withdrawing cash and making bank transfers.
Don't you think it's easier to just buy the car with Bitpay than to go to an exchange (a proper exchange, not a LocalBitcoins-type P2P exchange as they are less reliable), send your coins there (and potentially have to eal with source of funds), and withdraw to your bank account to pay from there?
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~ although the price of bitcoin and Ethereum is volatile
None of that matters to Ferrari because they will still receive the payments in fiat. They partner with payment processors to convert each crypto payments made by their customers. In other words, they are protected from crypto's price volatility.
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(https://i.ibb.co.com/pKq3B43/IMG-20240724-202647-436.jpg)
This is very good news for Bitcoin and Ethereum, the Ferrari sports car company has started accepting payments with Bitcoin and Ethereum in Europe, although the price of bitcoin and Ethereum is volatile but the interest and development of Ethereum and Bitcoin continues to attract the attention of everyone.
Is it possible that Ferrari already knows that Bitcoin and Ethereum have great potential in the future?
Not bad, I came to know about this news yesterday that Ferrari has started to accept Bitcoin payment for their sports cars and I think this is a very nice initiative and adoption of crypto by such a popular brand and I believe that if this brand adopts this and it may somehow promote this adoption then after seeing this adoption other car companies will start to adopt the crypto payment and it can be the trend of the coming time and from there we can see the market at another level.
Besides this, I posted such kind of news on my BTT account many months ago when Ferrari company started to accept crypto payments through DogeCoin source (https://coinfomania.com/ferrari-begins-accepting-dogecoin-for-its-luxury-car-payments-in-the-us/). In my views, as you have written above that "Is it possible that Ferrari already knows that Bitcoin and Ethereum have great potential in the future?" I believe that Ferrari knows the crypto space coming potential in the coming time where Bitcoin is the king of cryptocurrency and they are adopting this like an early bird in the car space.
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I see no queues near Ferrari dealers, nor people share info that they have ordered Ferrari and paid in Bitcoin. This announcement on one hand is positive, on the other it can be sad, because it might be that people dont buy Ferrari for fiat, then Ferrari hope that crypto millionaires would start buying those cars with direct payment. Actually I dont think that people buy Ferrari often, so this Bitcoin acceptance might be a shout like "please buy our cars, we did everything to make payments easier". I.e. they dont know how else to attract any customers right now.
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(https://i.ibb.co.com/pKq3B43/IMG-20240724-202647-436.jpg)
This is very good news for Bitcoin and Ethereum, the Ferrari sports car company has started accepting payments with Bitcoin and Ethereum in Europe, although the price of bitcoin and Ethereum is volatile but the interest and development of Ethereum and Bitcoin continues to attract the attention of everyone.
Is it possible that Ferrari already knows that Bitcoin and Ethereum have great potential in the future?
Indeed, this is a very good news but it's one that comes without any form of surprise, and this is because such news is long overdew, several big companies and co-operations should have by now understand that cryptocurrencies are here to stay, specially bitcoin and ethereum which are the two major cryptocurrencies today, in the future, I except the likes of BNB, Solana to also attract acceptance from big companies as well, but until that happens, whats best to do is for us to keep building and growing the market to unimaginable heights.
Anyways, a big congratulations to them (Ferrari) for taking such a step, if I was close to the CEO or manager of that company, I wouldnt mind asking him or her why did it take them so long to realize the potentials of crypto 😁
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Replacing Tesla, which initially accepted Bitcoin or later threw it away.
Will Ferrari do the same, and just want to take advantage of the bitcoins they buy or get from Ferrari sales?
In the Coindesk article, Ferrari (RACE) will expand the terms of cryptocurrency payments to Europe by the end of July and Ferrari is partnering with Bitpay and accepting Bitcoin (BTC), ether (ETH) and stablecoins (USDC).
It would be amazing if it was implemented in the long run and unlike other automakers who just threw away bitcoin.
https://www.coindesk.com/business/2024/07/24/ferrari-to-extend-cryptocurrency-payments-to-europe-reuters/
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Is there any proof of that from Ferrari, but not from media ? I have search https://www.ferrari.com/en-EN/ and there is not a single word about cryptocurrency. They could have announced that in their social media, but there I also havent found any proof. In most articles that I have found, it is said that Ferrari only plans to accept crypto.
Here it is: https://lasvegas.ferraridealers.com/en-US/articles/ferrari-adopts-cryptocurrencies-as-payment-option
The implementation of bitcoin payments is only in accordance with the regulations of the country where the dealer operates, so you may only get the offer on the local dealer website when consulting.
Imo planning does not mean accepting.
They have implemented it first in the US region.
I also doubt there are any Ferrari owners around here who can answer this question factually, hahaa.
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Is it possible that Ferrari already knows that Bitcoin and Ethereum have great potential in the future?
I think they just want to target some bitcoin millionaires from the past 5 years..
They used to buy lambos, but they can also afford ferraris
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Google say that less than 10k cars are being sold each years. If we imagine that among 10k, for example half would be paid by crypto, then this is just a tiny piece of sand from the whole desert. The news would be more shocking, if Toyota would accept Bitcoin as payment, with their over million Corollas sold per year record. But buying a luxury car with crypto, this is already a huge crypto price value drop as soon as car leaves the dealer.
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I think they just want to target some bitcoin millionaires from the past 5 years..
They used to buy lambos, but they can also afford ferraris
It's funny that the phrase “When Lambo?”, appearing in the early days of the crypto industry, was originally just a meme phrase, but then it became a reality for some crypto investors and a great advertisement for Lamborghini. In this regard, Ferrari lost to a competing brand, but it's good that they finally decided to follow the trend rather than ignore it.
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Replacing Tesla, which initially accepted Bitcoin or later threw it away.
Will Ferrari do the same, and just want to take advantage of the bitcoins they buy or get from Ferrari sales?
~snip~
I wouldn't really compare the owner of the Tesla and the owner behind the Ferrari, I think the latter are far more intelligent. Someone to whom you can sell overnight the story that Bitcoin mining is something that seriously affects the environment while at the same time all objective studies show the opposite speaks volumes about the kind of person he is.
Ferrari can give up crypto payment at any time, it is a completely legitimate right of every company or individual and such a move should not surprise anyone. Of course, if they do it because no one buys their cars that way, and not because they believe in conspiracy theories.
The news would be more shocking, if Toyota would accept Bitcoin as payment, with their over million Corollas sold per year record.
~snip~
It's not really on a global level, but some sellers who represent certain companies accept cryptocurrencies - so you can also buy a Toyota if you happen to be in Idaho (US) (https://bitcoinwide.com/edmark-toyota-01551a4c-12d3-4410-a865-1d1162023040) ;)
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The news would be more shocking, if Toyota would accept Bitcoin as payment, with their over million Corollas sold per year record.
~snip~
It's not really on a global level, but some sellers who represent certain companies accept cryptocurrencies - so you can also buy a Toyota if you happen to be in Idaho (US) (https://bitcoinwide.com/edmark-toyota-01551a4c-12d3-4410-a865-1d1162023040) ;)
That is great. I really wonder if this option is really popular in Idaho. As to Ferrari, for this looks like an announcement of an option, that barely be used. Not many can afford to buy and have a Ferrari, not many even want this car. And even less will really use Bitcoin and Ethereum as a payment. Doubt that every Bitcoin or Ethereum user now spend time in Ferrari car configurator and build their desired car.
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Is it possible that Ferrari already knows that Bitcoin and Ethereum have great potential in the future?
at this point, if any brand is not aware of bitcoin or ethereum or just crypto in general then they are already behind of their other competitors
this is not really surprising to me as tesla, another car company, have accepted dogecoin for payments i am sure the team of ferrari have seen this and thought of ways how to one-up tesla crypto is a good investment but most importantly this can also serve as a marketing move and it might be working since we are talking about ferrari after all
Although there are many companies that accept payments using crypto, I haven't seen news of someone buying a Tesla car or Ferrari car using crypto but I have seen people buying food using BNB.
Maybe it's because crypto payments are not officially allowed by the government or because crypto is volatile.
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I wouldn't really compare the owner of the Tesla and the owner behind the Ferrari, I think the latter are far more intelligent. Someone to whom you can sell overnight the story that Bitcoin mining is something that seriously affects the environment while at the same time all objective studies show the opposite speaks volumes about the kind of person he is.
Ferrari can give up crypto payment at any time, it is a completely legitimate right of every company or individual and such a move should not surprise anyone. Of course, if they do it because no one buys their cars that way, and not because they believe in conspiracy theories.
Hahaha you are too honest in saying it, even now Bitcoin mining which is said to contribute to global warming is not entirely true and there are even more other industries that contribute to global warming more severely.
Such people only care about their business and if it is not profitable they will just throw it away.
And yes, about anyone's right to accept or stop payments with crypto in their business.
It's a free, decentralized market and anyone can do it, they will probably only have an impact because they have a standing in the eyes of the wider community.
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I think they just want to target some bitcoin millionaires from the past 5 years..
They used to buy lambos, but they can also afford ferraris
It's funny that the phrase “When Lambo?”, appearing in the early days of the crypto industry, was originally just a meme phrase, but then it became a reality for some crypto investors and a great advertisement for Lamborghini. In this regard, Ferrari lost to a competing brand, but it's good that they finally decided to follow the trend rather than ignore it.
Yeah, there were so many memes like this:
(https://i.pinimg.com/736x/41/5a/ab/415aabdc429ced54e821f3c947b99402.jpg) (https://th.bing.com/th/id/OIP.yYRozTQfP-w_JDEi1HTBlwHaEK?rs=1&pid=ImgDetMain)
Maybe Ferrari is trying to catch up!
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Good news to have more car manufacturers accepting Bitcoin payments, but I think they are a bit late to compete with Lamborghini, everyone in Bitcoin is already set on getting a Lambo ;)
In last few days I have seen some services offering to sell other luxury cards for crypto, so adoption is slowly spreading worldwide.
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This is very good news for Bitcoin and Ethereum, the Ferrari sports car company has started accepting payments with Bitcoin and Ethereum in Europe, although the price of bitcoin and Ethereum is volatile but the interest and development of Ethereum and Bitcoin continues to attract the attention of everyone.
Is it possible that Ferrari already knows that Bitcoin and Ethereum have great potential in the future?
This looks cool for Bitcoin adoption but I don't find it useful for Bitcoin in anyways. These companies always find a way to use Bitcoin only to dump it after. I mean, these kind of news are supposed to be coming during the bear markets, it gives hope to people that Bitcoin has a lot of adoption from different people around the world but they wouldn't, they will only comes when we have Bitcoin bull run, accept Bitcoin from client and hold for a little time and then dump it on the market as soon as they make profits and go hidden again until next time Bitcoin is trying to make another run. It's not fair the way they do with Bitcoin.
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I didn't know this news about "Il Cavallino Rampante", but it is a really positive thing for Bitcoin, Ethereum and the entire cryptocurrency ecosystem. This will put other luxury car brands on alert so as not to lose their current position and with a little luck they will join Ferrari's initiative, and accept the two coins with the highest market volume as a payment method.
Is anyone thinking about Lamborghini like me?. Because the question that comes to mind after reading the news is... when Lambo?. I think it's the best time in the history of cryptocurrencies to ask that question :o
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I don't know why these news are still received with the significance of being something inherent to adoption as fundamental characteristics of that process, when they are just another tool of the type of feature added to the product, and in reality, they do not represent a significant effect... perhaps for governments and the police, but for the average user and Bitcoin itself as an adoption process it is more than anything a smokescreen, I'm not the one saying it, it happened, and it continues to happen in each case that is shown in this category.
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This looks cool for Bitcoin adoption but I don't find it useful for Bitcoin in anyways. These companies always find a way to use Bitcoin only to dump it after. I mean, these kind of news are supposed to be coming during the bear markets, it gives hope to people that Bitcoin has a lot of adoption from different people around the world but they wouldn't, they will only comes when we have Bitcoin bull run, accept Bitcoin from client and hold for a little time and then dump it on the market as soon as they make profits and go hidden again until next time Bitcoin is trying to make another run. It's not fair the way they do with Bitcoin.
Ferrari have bigger transaction every their product sold and interested to see how many bitcoin will accept after announce receiving bitcoin and ethereum as their payment transaction. But are there any the richer of cryptocurrency will buy Ferrari and use bitcoin as payment transaction?
Minimalize dump after accepting as payment transaction I think Ferrari have their own way and will make convert as soon possible if market condition on bearish but keep hold it if market growing up, every company have their technical when have to hold or sell their bitcoin assets after accepting cryptocurrency as their payment transaction.
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(https://i.ibb.co.com/pKq3B43/IMG-20240724-202647-436.jpg)
This is very good news for Bitcoin and Ethereum, the Ferrari sports car company has started accepting payments with Bitcoin and Ethereum in Europe, although the price of bitcoin and Ethereum is volatile but the interest and development of Ethereum and Bitcoin continues to attract the attention of everyone.
Is it possible that Ferrari already knows that Bitcoin and Ethereum have great potential in the future?
This is truly a good news for Bitcoin and for Ethereum, other than these 2 tokens, its a good news for all of other tokens too. Because if in current situation BTC and ETH is being adopted by big companies and their investment will increase the demand. Rich people are already investing in BTC and they are doing it from a long time and now its time for them to cash out and due to the acceptance of BTC and ETH these rich people will not cash out in the form of fiat but they will buy Ferrari instead.
Who don't know other than Ferrari that there is not potential in BTC and ETH. We all know these two tokens have great potential as investment. In the long run, these two tokens can make big investors a lot of money. This move by Ferrari is a good marketing scheme and it will attract good customers now.
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~snip~
Is anyone thinking about Lamborghini like me?. Because the question that comes to mind after reading the news is... when Lambo?. I think it's the best time in the history of cryptocurrencies to ask that question :o
I know that a Lambo could be bought for BTC back in 2018 in Japan at one of their famous car dealers, and you can probably find more dealers (especially in the US) that accept cryptocurrencies. Now that Ferrari has made that move, I have no doubt that other manufacturers will follow what is happening and whether it makes sense to introduce such a payment option.
Maybe it would have happened before if we didn't have the Tesla case, which surely influenced many others who thought about it, but gave up because of what turned out to be one big deception.
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if this news is true, then it is the same as Tesla accepting payments with crypto, but hopefully this is not just gossip because there are many people who have crypto who want to buy this car, but what I think is what if the crypto market is down?
here I am sure that when the crypto market is down, the Ferrari company will not sell its products to be paid for with the crypto method
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This is very good news for Bitcoin and Ethereum, the Ferrari sports car company has started accepting payments with Bitcoin and Ethereum in Europe, although the price of bitcoin and Ethereum is volatile but the interest and development of Ethereum and Bitcoin continues to attract the attention of everyone.
Is it possible that Ferrari already knows that Bitcoin and Ethereum have great potential in the future?
They are a business company so they know from their research that Bitcoin and Ethereum have potential in the future, They should have done this several years ago but its better late than never I'm sure many Bitcoiners in Europe will be excited to purchase their Ferrari with Bitcoin.
This is a positive plus for Bitcoin, and I hope many companies will follow.
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I know that a Lambo could be bought for BTC back in 2018 in Japan at one of their famous car dealers, and you can probably find more dealers (especially in the US) that accept cryptocurrencies. Now that Ferrari has made that move, I have no doubt that other manufacturers will follow what is happening and whether it makes sense to introduce such a payment option.
Maybe it would have happened before if we didn't have the Tesla case, which surely influenced many others who thought about it, but gave up because of what turned out to be one big deception.
I know there are several (completely legit) websites where people can buy with cryptocurrencies Lamborghinis and many other luxury brands like Koenigsegg, Ferrari or Buggati, but that's not what I was referring to. A place to buy something (second-hand) is not the same as an official statement from the brand, since that not only gives more credibility to the news, but also makes the news reach further and to more people.
Who knows, maybe it's just a matter of time before more brands jump on the bandwagon of accepting cryptocurrency payments and the ecosystem grows to places that just a few years ago were mere dreams.
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Good news to have more car manufacturers accepting Bitcoin payments, but I think they are a bit late to compete with Lamborghini, everyone in Bitcoin is already set on getting a Lambo ;)
In last few days I have seen some services offering to sell other luxury cards for crypto, so adoption is slowly spreading worldwide.
Is it possible that in the future Bitcoin will become a global payment method like the USD currency which is now a global payment currency?
This is likely to be difficult as payment methods globally are still dominated by the United States USD.
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I think they once announced that they accept Doge. Or is that a rumor? Well, this is very good news for crypto in general. They already understand that there is still more to come for Bitcoin and Ethereum.
You are right, Ferrari long ago announced that they would accept crypto for payments but it was not an available option in all over the world now they said they will be extending their offers to European countries which is a good thing. Although I also remember there was a news about Doge. Yeah, I found it, the news came out in February in 2024.
Much good news was coming in those days but as the bitbit arose the question whether are they really offering people to buy cars with crypto or its all fake news to increase the price. Well, I don't think its fake maybe due to the location difference we are not seeing what they are offering to only specific geographic locations. This news is no doubt a bullish news but this is not going to impact that good, the price won't be going high just due to this useless announcement.
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~snip~
Who knows, maybe it's just a matter of time before more brands jump on the bandwagon of accepting cryptocurrency payments and the ecosystem grows to places that just a few years ago were mere dreams.
I think we already had a period during 2017 and after that when many companies jumped on that bandwagon, but at some point they simply gave up because there was no interest in such payment. I don't believe that 6-7 years later, much has changed in how people perceive cryptocurrencies, especially BTC - so although I don't know the exact data, I think that very few transactions that happen on the blockchain have the purpose of paying for goods and services.
The Philippine island of Boracay is a good example of how people don't want to use BTC as a means of payment (tourists, of course) - because at one point there were over 200 places where you could pay with BTC, and that number was only decreasing. The person behind the payment processor that enabled payment with BTC stated that most merchants did not have a single BTC transaction and that is why they gave up.
Maybe something will change in this regard globally, but in some countries like Turkey, Thailand or Vietnam, BTC is prohibited as a means of payment, while trading and possession of the same is allowed.
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Is it possible that Ferrari already knows that Bitcoin and Ethereum have great potential in the future?
Naturally we knew that bitcoin and ethereum are the major market forces that drive the market more than any other coins and of course they also top 1 in the coinmarketcap unlike any other coin, so I do love their zeal to start accepting these two coin only than having much coin coupled and in future each could Worth something unimaginable than any other cryptocurrency out there.
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I mean, these kind of news are supposed to be coming during the bear markets, it gives hope to people that Bitcoin has a lot of adoption from different people around the world but they wouldn't, they will only comes when we have Bitcoin bull run, accept Bitcoin from client and hold for a little time and then dump it on the market as soon as they make profits and go hidden again until next time Bitcoin is trying to make another run. It's not fair the way they do with Bitcoin.
How is that different from a guy seeing that his profits in Bitcoin have gone up because of a bull run, and deciding to sell to buy a Ferrari? The same thing will happen if a guy decides to buy something, he will either give Bitcoins to the seller to he will sell his Bitcoins for fiat, and give the seller fiat. The dump will happen anyhow.
Who don't know other than Ferrari that there is not potential in BTC and ETH. We all know these two tokens have great potential as investment. In the long run, these two tokens can make big investors a lot of money.
Bitcoin is not a token! And neither is ethereum!
I've seen more and more lately saying this and it's really damaging for Bitcoin to be put on the same level as tokens.
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Bitcoin is not a token! And neither is ethereum!
I've seen more and more lately saying this and it's really damaging for Bitcoin to be put on the same level as tokens.
Sorry for the mistake next time I will not call them tokens. I knew they are not tokens but they are coins because they have their blockchain but I did not try to be so accurate in my last post. I thought readers would get the point but I guess some really care :D :D I will be more accurate with my words next time.
Naturally we knew that bitcoin and ethereum are the major market forces that drive the market more than any other coins and of course they also top 1 in the coinmarketcap unlike any other coin, so I do love their zeal to start accepting these two coin only than having much coin coupled and in future each could Worth something unimaginable than any other cryptocurrency out there.
How can Ethereum be a major market force for the market? Till now I only considered Bitcoin a major market force because every alt follows BTC even ETH too. I also think they are both worth something unpredicted recently the CEO of MicroStrategy predicted the price of 1 BTC will be $49 million by 2045.
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if this news is true, then it is the same as Tesla accepting payments with crypto, but hopefully this is not just gossip because there are many people who have crypto who want to buy this car, but what I think is what if the crypto market is down?
here I am sure that when the crypto market is down, the Ferrari company will not sell its products to be paid for with the crypto method
this have gone beyond just speculations since the Ferrari group of company have already announced their stable coins acceptance in some region for over a year now, but so this is just a follow up with their already exiting crypto payments and also a big add up to the entire adoption of crypto currency in general.
Although this may not have anything significant to do in the price of major coin like bitcoin so it could only increase crypto usage among their customers but then many will still prefer to make payment in fiat.
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here I am sure that when the crypto market is down, the Ferrari company will not sell its products to be paid for with the crypto method
They could have partnered with an off ramp crypto payment processor, bitcoin volatility wouldn’t affect dealers’ revenue that way. Besides, I don’t think there is a standard price for luxury cars, buyers might get different quotes from different dealers, especially if using crypto payment methods.
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but what I think is what if the crypto market is down?
here I am sure that when the crypto market is down, the Ferrari company will not sell its products to be paid for with the crypto method
They accepted crypto as payment back in 2023 when the market was done for Us and Canada, they don't care about the market as they don't hold coins!
They could have partnered with an off ramp crypto payment processor, bitcoin volatility wouldn’t affect dealers’ revenue that way.
This is what they are actually doing, it's a partnership with Bitpay, the same thing they did in the US back in October and now expanded to Europe after they finished the paperwork, they accept crypto, and the customer pays through Bitpay instantly converts the coins and send the fiat to their bank account.
Companies that need immense cash flow and are on a profit margin can't deal with this volatility, it can make them rich but can also bankrupt them.
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Can we sell our Ferraris and trade them back for Bitcoin? :)
Holding and driving Ferrari is decreasing it's value, unless you are keeping it protected in vacuum and sell in 30 years as collectibles item.
Holding Bitcoin is more likely going to increase in value in future, so I would not give my Bitcoin to Italian Stallion yet ;)
In future we should be able to buy everything with Bitcoin easy, at least those who survive this crazy times.
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Can we sell our Ferraris and trade them back for Bitcoin? :)
It is possible, but we can't expect to get the same amount of bitcoins as our purchase price if they offer it to a official dealer as they're usually tied to the manufacturer’s rules.
Holding and driving Ferrari is decreasing it's value, unless you are keeping it protected in vacuum and sell in 30 years as collectibles item.
Iirc, certain supercar companies have strict rules that buyers are not allowed to sell their supercars until a certain period of time. This means that buyers do not get the chance to do business with them too soon. I assume even luxury cars are somewhat of a collector's item once they're bought.
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Iirc, certain supercar companies have strict rules that buyers are not allowed to sell their supercars until a certain period of time. This means that buyers do not get the chance to do business with them too soon. I assume even luxury cars are somewhat of a collector's item once they're bought.
That is to prevent scalping (Tesla does it too), and besides, what kind of bozo would spend $500k on a sports car just to leave it in a garage for 3 years and never drive it? It's all about the driving experience - everyone wants to drive a supercar, so that's why the prices are the way they are. So you can expect people to actually use their Ferraris and other cars after they buy them.
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Iirc, certain supercar companies have strict rules that buyers are not allowed to sell their supercars until a certain period of time. This means that buyers do not get the chance to do business with them too soon. I assume even luxury cars are somewhat of a collector's item once they're bought.
That is to prevent scalping (Tesla does it too), and besides, what kind of bozo would spend $500k on a sports car just to leave it in a garage for 3 years and never drive it? It's all about the driving experience - everyone wants to drive a supercar, so that's why the prices are the way they are. So you can expect people to actually use their Ferraris and other cars after they buy them.
They're rich people, they don't care about $500K just to buy a supercar. Maybe for us it's too much just to buy a car, but rich people need a lifestyle and need satisfaction and existence in their community as rich people.
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That is to prevent scalping (Tesla does it too), and besides, what kind of bozo would spend $500k on a sports car just to leave it in a garage for 3 years and never drive it? It's all about the driving experience - everyone wants to drive a supercar, so that's why the prices are the way they are. So you can expect people to actually use their Ferraris and other cars after they buy them.
What I'm about to tell you may surprise you, but there are plenty of fools who spend $500,000 (and much more) on cars they will rarely drive in their lives. Some rich people are not looking for the experience of driving a Lamborghini Veneno (only 13 units were manufactured at a price of $4,000,000 each unit), what they are looking for is to have it in their garage, what they are looking for is a status, belonging to a small group to which the vast majority of people in the world cannot belong.