A Lambo For Under 10 Bitcoin: You Can Now Buy Supercars For Cryptos

Listening to the CNBC today one would be left with the impression that once having purchased bitcoin, there is nothing one can do with it (except check its price 30 times per minute of course). Which, of course, is dead wrong: one can buy pretty much anything that Overstock (among increasingly more online retailers) has to offer, one can purchase a home not only in the US but also the UK, and as of a week ago, one could pay an Albany car dealer the digital currency and drive off with any vehicle off the lot.

And now, rushing to capitalize on the countless brand new crypto millionaires minted in the past year, is Moonlambos, an online dealership for supercars with offices in Santa Monica and London which dubs itself "the premier destination for exotic supercars that deals exclusively in cryptocurrency."

The innovative dealership catering exclusively to bitcoin buyers, sells Aston Martins, Ferraris, Lamborghinis, Mclarens, Porsches and other coupes and convertibles, with a price rangins from 5 bitcoins for a Mercedes 230 SL Pagoda, to a 9 bitcoin Lamborghini Gallardo. to 20 bitcoin for a Ferrari 488, all the way to a 44 bitcoin Lamborghini Aventador LP 750-4 Superveloce.

What some may find most fascinating, however, is the constantly changing price in bitcoin for any one car - a result of the most volatile underlying asset currently in circulation (with the possible exception of electricity).

However, the real news here is not that there is now an exclusive online outlet aimed at bitcoin millionaires: it is that - as we have mused previously - there are so few of them when one considers that the population of crypto nouveau (ultra) riche has exploded in recent months, and is so very eager to spend its newfound wealth. It is almost as if, due to ideological barriers or other irrational considerations, retailers - who are all hurting in Amazon's shadow - think they are too good to accept a new currency which millions would be delighted to spend, and would rather file for bankruptcy than accept the likes of bitcoin, ether and ripple.

Oh, and for those who say that cryptos are too volatile for any merchant to accept, here is a word you can ask Alexa to look up: "hedging."

Comments

stacking12321 bobcatz Tue, 12/26/2017 - 23:12 Permalink

i've thought about trading 10 btc for a lambo, it's slightly tempting, but it would be foolish.right now i drive a 17 year old chevy astro, it runs perfect. i could total it and i wouldn't even care.if i buy a pricey car, i'd be worried about it all the time, just like tyler said, the things you own, end up owning you.i'd rather hodl the btc, thanks.

In reply to by bobcatz

zebra77a shitshitshit Wed, 12/27/2017 - 04:12 Permalink

Problem is buy a lambo for 10 bitcoin now or in two years buy a lambo for 2 bitcoin?The entire western hemisphere is drowning in fiat debt. Nobody wants to exchange a fixed limited supply crypto for waterdollars anymore.Add that taxation regulators are foaming over how to punish all wealth escappees..In essence bitcoin is a crypto that rewards you more the less you do (back above ,$16,000 already $50,000 ??) and rewards you 10 fold for never going back to fiat..

In reply to by shitshitshit

ShrimpinAin'tEasy zebra77a Wed, 12/27/2017 - 07:48 Permalink

Then, 2 years from now, somebody will be saying "I'm not spending those 2 bitcoins on a Lambo because in two years I'll be able to buy it for .5 bitcoins". Then, 2 years after that... (get the picture)? If the current dynamic holds & using that logic, all that does is make cryptos a black hole whereby eventually all the fiat in the world gets sucked into it creating the sense of artificial wealth. A planet full of gazillionaires driving 17 year old Chevy Astros living in coffins.

In reply to by zebra77a

Yen Cross tion Wed, 12/27/2017 - 02:09 Permalink

 Lambos still don't compare to Ferraries.  Purchased my first ferrrari in my early thirties. 328GTSi Quatrovalvo. I also owned an early BB512i  [with shields and black stoneguard] Anyone that knows anything about Ferraries, knows they are short sprung. ONe thing I miss is the ultra low roof lines and wide front ends. As Ferrari has moved to front engined , vehicles.  The 488 is not a normally asperated 458. I've driven both.  No spooling camshafts. It's like went Porsche went watercooled< Make no Mistake the 911 is a beautiful automobile. It just took from 1999-2014 to figure it out.  The mirrors should have always been mounted on the doors. 993 style. [ Last of the air cooled sideways motors]  Lets discuss Subaru. I raced a 4 wheel drive Subaru several times one night. I was in my Black Z0-6 corvette, and won every time. That little turbocharged four banger was smoking fast off the line. It just couldn't  overcome 600 prancing ponies.  WE were both on the stick.

In reply to by tion

PT stacking12321 Wed, 12/27/2017 - 00:33 Permalink

The price ain't the problem.  The servicing costs are the problem.Re-sale value is the other problem.In my younger days I used to idly entertain ideas like using home loans to buy a super car, drive it around for a couple of months before selling it and paying down the loan.  Even then I was smart enough to understand that the residual on the loan would be enough to bankrupt me even if I was careful with the car.  Careful?  Not the way I was planning on driving it.  Entertaining to think, in theory, it could be done.  But it was easy to imagine the reality if it was done.

In reply to by stacking12321

sessinpo Clock Crasher Wed, 12/27/2017 - 10:06 Permalink

Clock Crasher It's a serious question.  Is it a percentage of what your liquidating or a flat rate or what?-----Then if you are serious, you should research that there are many other crypto currencies besides bitcoin. WHen bitcoin became slow with high transaction fees, other crypto currencies took its place to become more of a daily use currency.   Last time I was showing someone an example, I was able to transfer abot $1200 worth of litecoin for about 76 cents. Transfer might take about 2 minutes depending on nework traffic. Ther are even debit cards for crypto currencies partnered with visa and mastercard.

In reply to by Clock Crasher

sessinpo Clock Crasher Wed, 12/27/2017 - 10:11 Permalink

Clock CrasherI will never take the mark of the beast. I'd rather be a full time homless thru hiker living out of hiker boxes and selling blood. Gold and Silver all the way. I do however wish I bought at 10 cents and sold at 10 dollars that would have been fucking awesome.---You've already taken the market of the beast. You are just under the illusion (or delusion) that you haven't.

In reply to by Clock Crasher

sessinpo troubadourcapital Wed, 12/27/2017 - 10:16 Permalink

troubadourcapital Yea, you can do stuff with it. You can even buy a house with it. But imagine trying to use Bitcoin as an every day currency. $25 fee for a $100 transaction? Real revolutionary---Get a clue and stop being so ignorant.  There are quite a few cypto currencies out there that are fast and low in fees. If all you know is the name bitcoin, you don't know much. Some companies will be offering debit cards using crypto currencies and partnered with visa and mastercard in 2018.

In reply to by troubadourcapital

Yen Cross Tue, 12/26/2017 - 23:06 Permalink

 I was just over at Hoehn MBZ in Carlsbad, to order some touch-up paint for my Mothers wagon.  Ghost Town, would be polite. I saw a nice white AMG wagon just feet from the service entrance. Mom would love that!

Clock Crasher Tue, 12/26/2017 - 23:09 Permalink

The patient was sick from injecting pure speed into his veins on weekends.  When he OD'ed during the turn of the century the doctors orders were to dose every day.  When the patient OD'ed again in 2008 the patient died.  The doctors grew a synthetic heart and this man is now on a permanent out of body acid trip as a zombie corps.  Look.. we all knew that radical monetary intervention was going end badly.  I could have never predicted things like this, 10 vapor coins for a lambo.  This ends in complete disaster for everyone including the unborn.