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Elon Musk : “Tesla operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.”

[Elon Musk on Twitter](https://twitter.com/elonmusk/status/1374619379929772034) has said that “Tesla is using only internal & open source software & operates Bitcoin nodes directly.” and “Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.”!

This is amazing! Not converting to fiat is a huge bullish step! I imagine more companies will take note and try to accumulate by setting up payment methods.



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35 Comments

  1. That is the most interesting part. This is how adoption will happen.

    As long as, and most vendors do this, crypto gets immediately exchanged to fiat, fiat will rule. But if crypto closes the circle, things start to get interesting.

  2. You could buy a Lamborghini with bitcoin in 2017, though this option was removed from most car dealerships and sites due to its volatility.

    The fact that the bitcoins are not going to be converted to fiat and seen as an investment perhaps encourages other distributors to follow this path and let go of their negative mindset.

  3. That is insanely good for Bitcoin. The fact that they don’t immediately convert them into fiat is a huge step for cryptocurrencies. If more big companies will follow, bitcoin will increase more and more in price, that is for sure.

  4. I am just happy that he stopped with the dogecoin memes. It drops a bad light on crypto in general. I love what hes doing with BTC, just image when he comes out with infos about experimenting with ETH

  5. This is great! BTC is being used as an actual currency! I really hope this leads to more companies/institutions doing the same.

    Tax question, in the US would you still have to pay capital gains on this kind of purchase?

  6. Why would they convert bitcoin into fiat which depreciates?
    The next thng would be tesla entering into contract with other foreign companies and pay them in bitcoin.
    That is how wide adoption is possible. Our shit coins will create some real worth too.

  7. Alright, so do we like Elon or not like him? I’m so conflicted. Can I remain impartial, impressed with his career, skeptical about his motives, and disdained with his personality on occasion, but generally happy he is alive in my time period because he’s a really interesting character?

  8. Well yeah, I thought this was kinda obvious. Why trade a Tesla car for cash when you could get bitcoin instead? Thats way better. It’s not like Tesla needs cash anyway

  9. I think this should be taken carefully. He did this for a reason that I don’t think is solely due to be crypto enthusiasts. I think he mainly didn’t transfer bitcoin into cash to not been taxed on that money and the possibility to consider that as a cost/exit for financial/balance reason (pardon if the words are not exactly correct English is not my first language and I didn’t studied too much economics to know every words).

  10. You guys dont understand that Elon Musk is working with the federal government to destroy bitcoin and bring regulations. Ya’ll can’t even see it. I’m dead fucking serious.

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