Friday, December 13, 2013

The Bitcoin saga continues…

After reporting the sale of a Tesla acquired using Bitcoins, we received a lot of calls from prospective buyers.  We are happy to confirm a 2nd transaction of the same kind this week for a 2014 Lamborghini Gallardo LP 550-2 Coupe.  With the help of a 3rd party specializing in converting the 216.8 Bitcoins into US Dollars, we were able to complete the transaction within 72 hours.  According to the media attention we've been receiving, this could be the start of something big.

2014 Lamborghini Gallardo LP 550-2 Coupe

39 comments:

  1. Yes! Good for you!

    I'd better get saving...

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  2. Not really. I could have traded my friend a bunch of beanie babies for cash then taken the cash into the dealership and bought the car. That's not nothing new it's bartering and has been around since the dawn of time.

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    1. This was not bartering. Bitcoins where accepted as payment, BitPay exchanged the Bitcoins for USD at the time of sale to protect the merchant from btc's volatility. Works the same way as if I was to pay for a car in EUR/GBP that is priced in USD.

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    2. don maddah. Consumer had Bitcoins and wanted a Lambo. Merchant was smart enough to know how to use Bitcoins and beat out competing dealers to make the sale. Everyone was happy and got what they wanted. Sorry other car dealers that lost out - you should become more cometitive!

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    3. "could have" but something tells me that you decided to hold onto them instead because of all the global beanie baby exchanges, beanie baby atm machines, merchants and others financial types that were getting behind children's toy bartering in the foreseeable future? Since bartering is your best case argument -can you show me where anyone bartered beanies for a lambo? How many beanie babies is 600 USD? Are they all valued equally? Although I probably cannot convince you otherwise, you should really take some time and look into bitcoin. It is the most exciting experiment and internet adventure I have ever been on.

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    4. I've never heard of anyone taking their beanie babies to a dealership and walking out with a vehicle.

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    5. How are bitcoin similar to beanie babies?

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    6. "With the help of a 3rd party specializing in converting the 216.8 Bitcoins into US Dollars, we were able to complete the transaction within 72 hours."
      A bitcoin transaction takes 10 minutes or less, so in a way, I don't think we're taking advantage of the potential, here. Did the buyer walk in, pay, and walk out 72 hours later?

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  3. Beanie Babies were accepted as payment, my friend exchanged the Beanie Babies for USD at the time of the sale to protect the merchant from the Beanie Baby volatility. Works the same way as if I was to pay for a car in hot dogs/ crack cocaine that is priced in USD.

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    1. That argument is getting so old and is demonstrating your lack of knowledge. Let me know who accepts hot dogs as payment, because this dealership just accepted bitcoins as payment.

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    2. No in fact I'm 100% sure they received nothing but USD.

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    3. No, they received BTC as payment you uneducated troll.

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    4. I guarantee this dealership does not own a single bitcoin and in fact never even had possesion of a single satoshi. Prove me wrong.

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    5. Accepting bitcoin through Bitpay is no different than accepting dollars through VISA. In both instances you receive an accounting entry in someone else's currency (in VISA's case their own "dollars" that are kept on their account), and eventually that private currency gets converted into cash and deposited into the dealer's bank account.
      I guarantee that this dealership does not own a single VISA "dollar."
      Regarding the stupid beanie baby coomparison, beanie babies were designed as stuffed toys, and only have the function of stuffed toys. Bitcoin was designed to be money, and has the function of money (as well as a distributed asset database). The former has zero intrinsic value for trade, the latter has enormous value, comparable to e-mail v.s. post letter, or Excel spreadsheet vs graph paper. Go educate yourself http://www.whyisntbitcoinwoorthless.com

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    6. I pretty sure "trading" your beanie babies to your friend is called selling. Then you used the form of currency that he gave you to purchase a car.

      It's the same as if I were to sell several thousand slices of pizza and went and bought a car. It wouldn't work the same as if I just took the pizza to the dealership, which would be bartering.

      However this story has no pizza or beanie babies, he just took a form of currency to a dealership and bought a car.

      As someone has already pointed out, "No, they received BTC as payment you uneducated troll."

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  4. This is so great to witness and I'm sure you will receive much more business in the future from the bitcoin community.

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  5. hope you guys cashed that in at POS. lol

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    Replies
    1. They didn't have to cash anything in because they never saw any Bitcoins.. No merchant in their right mind would actually accept Bitcoins and keep them.

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    2. "In their right mind", hindsight is always 20/20, they shulda kept them

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  6. Add dogecoin soon.

    Zoom

    Such leather

    Shiney

    Wow

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  7. This is what's all about. You got purchasing power and through Bitcoin are free to use it as you wish without third parties chipping away with antiquate thieving protocols that are only there to eat off YOUR money. This guy (buyer) will have a name and Government .documentation/registration attached and will be legal and taxed as we all are expected and want to do. We don't mind that, what we do not want is FILLING THE POCKETS OF GREEDY BROKERS AND 'THE REST'.
    Thank you for being the first Lambo pioneer dealer of the world.

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  8. Learn how to buy Bitcoin and the alternative cryptocurrencies at www.crypto-coins.org

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  9. This comment has been removed by a blog administrator.

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    Replies
    1. Are you afraid of an open source protocol?

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  10. Why are salty Aston Martin dealerships always bloviating about Beanie Babies?

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    Replies
    1. Beanie Babies can be sent through internet? Does the amount of Beanie Babies are also capped by cryptology?

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  11. http://www.cnbc.com/id/101258152

    Relevant.

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  12. I like how people actually say ''Bitcoins'' when there's no such thing as Bitcoins.... If you create a Bitcoin account, all you own is a key to the part of the distributed ledger that states how many transactions have gone in and how many have gone out of that address.

    It is stupid to think about Bitcoin only as a currency. Bitcoin in this case was used in its other form- as a payment network (similar to swift or VISA), so the merchant actually accepted the use of Bitcoin payment network. Bitpay created a Bitcoin wallet on behalf of the merchant to which buyer's bitcoins were sent. Then, on behalf of the merchant, they converted Bitcoin straight to USD for him to use.

    Of course they did not accept Bitcoin. Any serious business that accepted Bitcoins with the volatility they have today would be stupid. The big story here is that the merchant used Bitcoin payment network to receive a payment for a car. Judging by the current price, the network was used to send through 100 000 USD or even more, so it's even more astonishing that Bitcoin network works and merchants are happy use the services of it.

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  13. Lamborghinis look SO much better with tails on them!

    http://autocarsfans.com/wp-content/uploads/2013/11/2014-Lamborghini-Gallardo-LP570-4-Squadra-Corse-Front-Angle-Wallpaper-Picture-2.jpg

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  14. 'Anti bitcoin' guys are entitle to their opinion, I and other visitors just don't give a shi* about it and are not interested in your comments, keep it to yourselves. We come to this site to appreciate their cars and the site operation of bitcoin transactions. through the bitcoin network, it works 100% as expected, seller and buyer are equally satisfied, so leave it to that . For anything else .... use visa. or a forum or go back to sleep.

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  15. hey idiot, you can manufacture as many beanie babies as you want, just like real dollars. bit coins are the only money where the newly printed stuff is actually counted.

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  17. Thanks for your great information, the contents are quiet interesting.I will be waiting for your next post Japan used cars .

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  18. "this could be the start of something big."

    Yes it is. Purchasing cars with bitcoin is very possible. Could you imagine that with BTC, you can even have a journey in space? This is how surprising bitcoin is. Though I never had that enough bitcoins to buy big purchases, I'm still determined that I'll have in time. Anyways, bitcoin value plummets; the recent drop will surely affect trading exchange. So the best thing to do now is to bet at bitcoin casino. Selling bitcoins is no good this time.


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