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> Tesla's terms and conditions say if a refund is needed, it can pay in either the exact amount of Bitcoin paid or in US dollars based on the dollar price of th
by trjordan 6y ago
> Tesla's terms and conditions say if a refund is needed, it can pay in either the exact amount of Bitcoin paid or in US dollars based on the dollar price of the car - whichever it wants.
Fascinating.
- AndrewDucker 6y agoNow there's an excellent way to make money. (Value goes up, get refund in bitcoin and buy car in dollars. Value goes down, get refund in dollars.)
- AnIdiotOnTheNet 6y agoI think you misunderstood. Based on the wording it would seem that Tesla gets to choose how to refund you. So if BTC goes up your refund will be the dollar value of the car, if it goes down you'll get BTC back.
- chii 6y agoi think the choice lies with tesla, not the customer!
- throwaway4good 6y agoWhy would anyone then pay in bitcoin?
- UncleMeat 6y agoMemes. There is a sizable portion of people who have made oodles of money on cryptocurrencies and spending it for the story has become valuable. It is the "I am rich" effect but for a different audience.
- throwaway4good 6y agoThe marketing angle makes sense. But it also risky. If the there is a major correction in the price of bitcoin, then Tesla is not going look so good. However the refund policy is an explicit loss to the customer. You would have to be silly to accept that.
- chii 6y agoi suppose it allows for tax evasion - by paying directly in bitcoin, without conversion to a fiat, you avoid the gains from being detected and taxed.
- throwaway4good 6y agoHahahah - what?!
- osrec 6y agoCould this be a mechanism to launder money? Edit: I'm not saying it is, but, just as an example, someone could buy BTC from an unregulated country, then purchase a Tesla and request a refund in dollars.
- Pelic4n 6y agoshhhh
- robjan 6y agoI am not 100% familiar with US regulations but I imagine there will be some KYC process before buying the Tesla in Bitcoins.
- jfengel 6y agoI know that banks are subject to some kind of restrictions on $10k+ transactions. Does that apply to sellers who sell directly to the public? If you try to buy a new car with a briefcase full of cash, do they have to do something?
- camjohnson26 6y agoThe customer doesn’t choose the method of refund, Tesla does.
- WinstonSmith84 6y agoTransactions are registered on the blockchain, and that's transparent, verifiable by anyone. Much more than through any bank, ironically. Regardless on how the car is paid, a car is delivered to a physical person, and Tesla asks for sure many information on that person... it's not like something purchased on the darknet delivered to an anonymous PO box :-)
- kruxigt 6y agoI expect that a full refund will only be paid out due to circumstances uncontrollable by the customer, haha. Otherwise, as said, this is too simple a scam.
- raverbashing 6y agoGreat! I'm sure this won't be used for Money Laundering, no sir.
- Karawebnetwork 6y agoThat was my first thought but this part of the quote is important: "whichever it wants." In other words, Tesla will very likely refund you in Bitcoin unless there's a serious issue.
- raverbashing 6y agoGood catch. So they will refund you in whichever way is cheaper.
- nly 6y agoPeter Schiff (notorious Bitcoin critic) picked up on this as well: > You can buy a #Tesla with #Bitcoin , but you'd be a fool to do so. It's better to sell your Bitcoin and buy the car with cash. That's because at its sole discretion Tesla prices refunds or buyback in either the quantity of Bitcoin paid or their dollar value at the time of payment. https://twitter.com/PeterSchiff/status/1374857273282035716 https://twitter.com/PeterSchiff/status/1374857273282035716 Win-win for Tesla.