Post: #1

http://money.cnn.com/2013/12/06/autos/te...index.html

Was this you El Mech?

Post: #2

Awesome!

anonymity that bitcoin gives you to purchase things over the internet is SUPER POWERFUL!!!!! And now that we will be able to purchase actual products that we can use and desire.....this could be the first chip away from a powerful boulder (global banking empire)

Post: #3

that's why i think btc's a bubble. 2 months ago no one has heard of btc, now its front page news that someone bought a tesla and lambo using btcs.

was yesterday just a correction or a harbinger of a much more severe crash?

Post: #4

I bought my recent new car in cash. The salesman said "Don't worry we don't report large purchases to the IRS." I guess he thought I was a drug dealer or something

Post: #5

(12-07-2013 10:21 AM)Parlay44 Wrote:  I bought my recent new car in cash. The salesman said "Don't worry we don't report large purchases to the IRS." I guess he thought I was a drug dealer or something

LOL, but I bet they still charged you tax on your car.

I fucking hate care dealers they're all so damn fake sleazy. It's one thing to be sleazy and to own up to the sleaze; it's entirely different to be sleazy and act like they're you're best friend doing you a favor.

Post: #6

(12-07-2013 11:55 AM)Pyre Wrote:  

(12-07-2013 10:21 AM)Parlay44 Wrote:  I bought my recent new car in cash. The salesman said "Don't worry we don't report large purchases to the IRS." I guess he thought I was a drug dealer or something

LOL, but I bet they still charged you tax on your car.

I fucking hate care dealers they're all so damn fake sleazy. It's one thing to be sleazy and to own up to the sleaze; it's entirely different to be sleazy and act like they're you're best friend doing you a favor.

Yeah I guess long haired dirtbags like me don't usually carry around 20 G's in cash.
He sure as hell wasn't going to turn down the sale though.

Post: #7

Funny how people are starting to treat cash like it's taboo. I sold a newer 911 on ebay for 60k once and the dude flies down form Chicago with some kind of check. Umm..yeah you better cash that thing. He was like WTF? I can't carry 60k in cash. Ahh yeah you can.

Post: #8

He got fucking lucky. The dealership must be pissed. But good for him and bitcoins.

I have become fascinated by crypto currencies.

Post: #9

"Funny how people are starting to treat cash like it's taboo."

^Amen. Funny how he said he can't carry $60k cash on himself. I imagine he was a white collar type guy El Mech?

I have anywhere from 500-1,000 in cash on me all the time. I like cash, period.

Gas station attendants, restaurants, almost everywhere I noticed this past year looks at me odd when I peel off cash.

Fuck them and fuck their plastic cards.

I was definitely born in the wrong generation.

Post: #10

(12-07-2013 02:01 PM)samsamsam Wrote:  He got fucking lucky. The dealership must be pissed.

That's the first thing I thought.

If the dealer didn't cash them out right away they are down quite a lot right now.

As in they just sold a 100k car for about 50.

Post: #11

(12-07-2013 02:42 PM)Hotwheels Wrote:  

(12-07-2013 02:01 PM)samsamsam Wrote:  He got fucking lucky. The dealership must be pissed.

That's the first thing I thought.

If the dealer didn't cash them out right away they are down quite a lot right now.

As in they just sold a 100k car for about 50.

Maybe I shouldn't say lucky, maybe he saw it coming the dip. I don't want to sound jealous, I applaud those that take risks and make moves as long as they can own the downside. Meaning you take credit for glory and for defeat.

McQueen - so if I forget my wallet you got it handled?

Post: #12

^I can tell who read the article and who didn't lol.

No, the BitPay transaction broker, locked in the rate at the Bitcoin value the day he bought it, so despite it dropping the dealer still got the full $100k.

Post: #13

Lol, I skimmed it mainly looking for the date of the article. lol.

Post: #14

"McQueen - so if I forget my wallet you got it handled?"

^Of course. Then I'l send Tony around to 'collect' ; )

Post: #15

I'm with you, McQueen. I feel naked unless I have a few hundred in cash on me at all times. I don't have a credit card, and the only time I use my debit card is to withdraw cash from an ATM.

I've noticed that a lot of my favorite shops and restaurants either don't accept plastic, or they're less friendly when you pull a card out of your wallet. I have $258 in my wallet right now, and when I spend it, it won't create a a record of where I've been or how much I've spent.

Cash is king.

Post: #16

(12-07-2013 02:38 PM)McQueensPlayboyRules Wrote:  I have anywhere from 500-1,000 in cash on me all the time. I like cash, period.

Gas station attendants, restaurants, almost everywhere I noticed this past year looks at me odd when I peel off cash.

Same here

Please refer to my thread: Flashing a big bankroll in public

Post: #17

(12-07-2013 02:45 PM)McQueensPlayboyRules Wrote:  ^I can tell who read the article and who didn't lol.

No, the BitPay transaction broker, locked in the rate at the Bitcoin value the day he bought it, so despite it dropping the dealer still got the full $100k.

Ahhh. Was thinking it would be the rare dealer that didn't want to know what he was getting to the cent.

And I agree that the buyer definitely played his cards right. That's how you get ahead.

Post: #18

I used to like carrying around cash till I lost $500

Post: #19

Credit Cards all the way. Too many rewards getting thrown away without using a credit card. I will sign up for at least one new card a year and some of the bonuses are $400 to $500 just for spending a certain amount in the first 3 months.

Post: #20

(12-07-2013 02:57 PM)murrb Wrote:  Credit Cards all the way. Too many rewards getting thrown away without using a credit card. I will sign up for at least one new card a year and some of the bonuses are $400 to $500 just for spending a certain amount in the first 3 months.

I have no idea how credit cards work, otherwise I might get in on something like that for buying regular stuff like groceries, toiletries, etc.

Shit, I don't even understand credit card interest rates. Like, if you spend $500 and pay it off at the end of the month, do you pay any interest? If you don't carry the balance and pay interest, do you not get rewards?

Bust out a "credit card rewards" data sheet!

Post: #21

I do both cash and credit but I do love my points. Cash is situational like they don't take credit cards or to make a point.

Or to pay off Tony. I don't think Tony takes credit.

You get points for every dollar spent. As long as you pay on time you don't owe interest unless you took a cash advance.

I don't follow this stuff as closely as I used to - but you can open cards and get some good up front rewards and free first year annual fee covered - just cancel during the first year. It does mess with credit a little bit each time you open one I think.

http://www.hustlermoneyblog.com/best-ban...ses-deals/

Post: #22

(12-07-2013 03:00 PM)MSW2007 Wrote:  

(12-07-2013 02:57 PM)murrb Wrote:  Credit Cards all the way. Too many rewards getting thrown away without using a credit card. I will sign up for at least one new card a year and some of the bonuses are $400 to $500 just for spending a certain amount in the first 3 months.

I have no idea how credit cards work, otherwise I might get in on something like that for buying regular stuff like groceries, toiletries, etc.

Shit, I don't even understand credit card interest rates. Like, if you spend $500 and pay it off at the end of the month, do you pay any interest? If you don't carry the balance and pay interest, do you not get rewards?

Bust out a "credit card rewards" data sheet!

THere are so many data sheets on credit cards on the net already. Yes just make sure you pay off your balance at the end of the month and you pay nothing in fees(unless you use your credit to borrow cash, in which case you start paying interest on it right away).

http://www.freefrequentflyermiles.com/index.htm

there are some great travel sites to check out like

http://www.flyertalk.com/forum/credit-de...grams-390/

http://slickdeals.net/forums/forumdispla...d=3859&f=9

also fatwallet.com has a similar forum and travel section. There are a few times I will prefer to pay with cash, namely at a bar. I have seen bartenders charge the wrong card when it is busy and over charge guys when they are running a tab. Always pay with cash when you are at a bar. Otherwise, if you are paying with cash, you are missing out on either miles or points.

Post: #23

(12-07-2013 02:51 PM)Hotwheels Wrote:  

(12-07-2013 02:45 PM)McQueensPlayboyRules Wrote:  ^I can tell who read the article and who didn't lol.

No, the BitPay transaction broker, locked in the rate at the Bitcoin value the day he bought it, so despite it dropping the dealer still got the full $100k.

Ahhh. Was thinking it would be the rare dealer that didn't want to know what he was getting to the cent.

And I agree that the buyer definitely played his cards right. That's how you get ahead.

@ McQueen - someone was holding the 92-ish Bitcoins when they depreciated - was it Bitpay?

Alternatively, does Bitpay have such a high turn over with their Bitcoins and/or cash that they are able to off load them fairly quickly?

No matter what, as more people invest into Bitcoins, there will be more people holding onto them during these fluctuations, including the Winkledorfs - and so far, no problema in holding onto them... so long as a guy does NOT panic and sell in a dip (which inevitably seems to happen to some people).

As we know, so far BTC has been returning back to previous values and surpassing those previous values, which seems to me going to continue, until such time that there is some kind of govt crack down or major scandal... .. which may or may NOT take place.

I don't buy the claims that BTC is a ponzi scheme or a bubble... but I do buy that there are likely various status quo interests, including big business and some already rich people, like bankers, who do NOT want to have their cushy situations messed up by the Newly rich BTC early adopters. And some of the various status quo interests will likely engage in various tactics to undermine and/or sabotage BTC.

Post: #24

And today... those 91 bitcoin are worth $580K and the 2013 Tesla is worth $35K. Funny.

Post: #25

Cars are almost never a good investment. Hopefully he had a lot more than 91 BTC stockpiled.