Quote from: Biodom on June 23, 2019, 07:11:58 PM

Quote from: Globb0 on June 23, 2019, 07:07:17 PM

Quote from: JayJuanGee on June 23, 2019, 04:01:46 PM

Quote from: LFC_Bitcoin on June 23, 2019, 02:50:17 PM

Quote from: JayJuanGee on June 23, 2019, 02:40:59 PM

Let's just say hypothetically that a WO guy or gal (the one in here) were to be inclined to purchase a brand new Lambo with 1BTC, once Lambos were within that price range - or bitcoins were within that level of price appreciation.

How many BTC would you say would be prudent to be in that person's BTC holdings or the level of that person's wealth, more or less, to make it prudent to use one BTC on a lambo? Perhaps the equivalency of at least 10 BTC? If you have the wealth equivalency of 10BTC when a Lambo is worth 1 BTC, then you can prudently afford a lambo, in my level of thinking about prudence.

Of course, other guys and gal might come to a different conclusion than me, and be willing to allocate their value towards a lambo with much less of a value cushion. Personally, I think it would be somewhat reckless to have less than 5 BTC of value and to apportion 1 BTC towards a lambo.. but, hey that's me.

Its too much money unless we end up with a situation where 1BTC or 2BTC = a Lambo then you can probably leave me out.
I can afford to buy a couple right now & have a good stash still left but fuck that.

Im not spending a sizeable amount of my stash on a fucking car, man.

Big, massive house & multiple apartments to rent out - yes.
Car - No

Never spend huge amounts of corn on anything unless its something that increases in fiat value. New cars are one of the worst investments.

Yeah, but get real LFC.

I understand that you are still in a kind of scarcity mindset, but once you reach filthy rich status, then at that point you have so much excess wealth that you will likely become less frugal than your current mind-set will allow. I already can see from your posts that you do not have a warren buffet mindset. You are not going to be eating at McDonalds and driving 15 year old cars once you reach filth rich status.

Furthermore, I appreciate that your threshold for spending money on a lambo is decently high, and probably in a similar arena as mine, even though I do kind of like cars.. not as much as hookers, but still... I can appreciate a nice car.

so yeah, perhaps there are some WO peeps who might go so low as 1/5 ratio and willing to spend their BTC on a lambo, and I am more likely in the 1/300 ratio.. but you might be in the 1/1000 ratio... Part of my point, is that there would be a threshold in which extravagance is part of the mix... including flashy cars, such as a lambo. Yeah the hookers and blow might have a lower threshold, but those ones were not really part of my hypothetical question.

A tax event might propel the idea of an investment in a vehicle.

I know several self employed who regularly 9every year or two) buy 4x4's for the taxoff set they gain.

You mean Section 172 (in US)?
It only works if you can justify a vehicle (have to travel to clients, etc).
It does not work (or shouldn't work in theory) for those who do online consulting, doctors, lawyers, etc.
Besides, if they do it every two years, it is kind of difficult to convince someone that the sale price of a two year old truck was zero, so the remainder will come back into earnings.

UK mostly self employed builders