Re: Honda Now Accepts Bitcoin and Ethereum As Payment Methods
With such an opportunity to spend btc to buy luxury cars-
*Will you be willing to spend your btc to buy car from Honda? Or any other automobile company that will follow the Honda's part?
*Which other automobile company would you want to also accept btc for payment?
*Is this news big enough to trigger market uptrend in the coming weeks, months?
Does Honda want to continue in Tesla's footsteps or is it only temporary, but what is certain is that this step should be appreciated because BTC is increasingly becoming a part of the business world where consumers can buy valuable goods such as cars and of course it is a driving force for other companies to participate so as to help improve public trust and interest in crypto and increasing its acceptance in the business sector.
Well, if somebody ned to buy a car using BTC now, that's definitely not the case, and to predict the trend, it could trigger an upward trend in the market in the next few weeks or months, I don't dare to speculate further.
Either temporary or long term adoption planned for this adoption to happen its still good since announcing to adopt bitcoin is already a great news to be heard. For sure there's a lot of people in business world read up this announcement created by Honda and adding bitcoin gives curiosity to them about possibilities to add this also in their company. But lets just see what will be the result of their adoption since if honda will generate a lot of sales also good result in terms of bitcoin volatility for sure this will be great in terms of good projection of bitcoin since it can somehow boost more its popularity.
People near them can now buy car without any conversion needed and they can directly use bitcoin or ethereum to make their transactions more faster.
Honda accepting bitcoin and some other cryptocurrencies as payment methods is good news for the crypto industry but what I'm thinking is will people use their crypto assets as payment methods? Because most people only like to use them as a means of investment, including us, very few consider them as a means of payment. That's what I'm doubting, even if businesses add bitcoin as payment method but most investors value privacy, will we use btc for payment?
If a person is a Bitcoin holder and it is a long-term holder, then he will see that this is what the Honda company has done. I think he will not use the Bitcoin he has even if we say that he wants to buy a car from Honda itself. Of course, he will think that the Bitcoin he will use to pay for it will be a waste; if he has money to pay with their money, he will do that and use it for sure.
Yes, we're here; that's good news, but that doesn't mean you're going to install the new system that Honda made today. As far as I can see, it seems that the step taken by the company was just wrong timing because we are about to enter Bitcoin's halving and we are getting closer to the bull run. They should have done that right away during the bear market era; this is just my opinion.