How a software developer has pre-ordered his Tesla with Bitcoin

Mason Borda is a software developer at BitGo, founder of GitMoney and the Ethereum Wallet Etherli. In his spare time, the developer loves the challenges and innovations in the Bitcoin universe. That’s why he also hosted the 21hackathons.

Bitcoin secret fan for a long time

Borda is now making a name for himself with a new thing in his CV: he ordered the new Tesla Model 3 for 2.413612 Bitcoin. In his own article on onlinebetrug about Bitcoin secret scam, the developer describes the pre-ordering of his new electric car.

When he first read about Bitcoin secret, Borda writes, he learned about the release of the Tesla Roadster. That was in 2007, when he looked at the technical specifications and asked himself: How is it possible to undercut the acceleration time of the current Ferrari model from 0 to 100 km/h with an electric car? He considered this an unsolvable task. But the riddle made him doubt it on the one hand and on the other hand it aroused his interest for this technical challenge.

Borda developed charging stations himself
Borda wanted to know exactly and joined the Automotive Development Work Group at his college. He quickly led a team in the development of a charging station for mobile electric cars that were commercially developed. He regularly organized excursions to the Tesla Motors company where he enjoyed his first ride in the Tesla Roadster. This trip took place in 2010 and triggered pure enthusiasm at Borda.

How the developer came across Bitcoins

Today, in 2016, a lot has changed in Borda’s life. He has now discovered Bitcoins, a currency he is so convinced of that he constantly uses and even works for a company in this sector of the Fintech industry. Borda orders his Tesla with Bitcoins
So Borda decided without further ado: he wanted to pay the pre-order fee for the Tesla Model 3 with Bitcoins.

Said, done: Of course, the car manufacturer did not accept Bitcoins directly as a means of payment. That’s why he had to find another way. Borda came across Shakepay, a provider that offers “disposable credit cards” that can be loaded with Bitcoins. So he had loaded enough credit on the card without further ado and then made his pre-order with this credit card. As he himself says, this took him less than 60 seconds.

“Unspectacular” – one could say when reading how Borda really pre-ordered his Tesla. After all, he didn’t pay Bitcoins to Tesla, but used a credit card previously loaded with Bitcoins for payment. The “experiment” nevertheless shows something different:

He ordered a car that he had neither touched nor seen before and that is powered by electrons flying through copper cables. He paid for this order with a disposable card, loaded with a currency whose inventor is unknown and only appears under a pseudonym.

This is how Mason Borda himself describes it in his own article in English.

Errors that companies make in the Bitcoin formula topic

“Using the blockchain in the entrprise area is like filling a round gap with a square piece of the puzzle” – Is it true that the blockchain and capitalism contradict each other, or are we just about to enter the economic revolution?

What problem can the Bitcoin formula solve? Or: How do we solve this problem?

The Bitcoin formula can solve many problems. In addition to pure payment systems, their characteristics of decentralization and immutability provide the basis for implementing many things. Companies are increasingly interested in using blockchain technology to their advantage. After all, the Bitcoin formula topic is new. And it is hot. Everyone wants to be a part of it, be the first to do so and benefit from the hype.

The direction of the questions is often the problem: Again and again the question is asked which problem the blockchain can solve. “No” is the answer in the most frequent cases. Not because the blockchain offers too few possibilities to discover new use-cases with it, but because the question is past oriented.

The Blockchain as Non plus ultra

We must begin not to see the blockchain as a non plus ultra, as something (like the Internet today) that everyone must be able to use once, and which, among other things, is about the speed of being one of the first to be there. It is much more about seeing the blockchain as an approach, to put it in economic terms, an “approach” that can be considered when solving a problem.

In order to measure the real potential of the blockchain, the question must be asked what a decentralized approach means for one’s own industry. A blockchain does not make sense in all cases. Often enough, it even contradicts conventional business models that do not work in combination with the technology.

This does not mean, for example, that a bank should not deal with blockchain technologies because a blockchain, as in the case of Bitcoin, could replace the huge construct of the conventional banking system, but that banks should consciously confront this question in order, on the one hand, to sound out the disruptive effect this development has on their own business and, on the other hand, to carry out a structural change. It may be that the classical, public blockchain completely contradicts the concept of a bank. This is not one reason for avoiding it altogether. From the bank’s point of view, shrinking one’s own business is perhaps more advantageous in the long run than replacing it by others through the implementation of these ideas.

White House waves off the news syp – no crypto-regulation so fast

This week, the White House has rejected a possible crypto-regulation. Instead, they are still in the learning process. This was said by President Rob Joyce’s cybersecurity commissioner on Friday, CNBC, at the current Munich Security Conference. Hearings by the US Senate in the last few weeks with the responsible supervisory authorities had recently sparked speculations about upcoming draft laws.

The road to the news spy is still long

Trump consultant Rob Joyce stressed this to CNBC on Friday at the Munich Security Conference, confirming a calming course in the news spy crypto handling. In Munich this weekend, Joyce emphasised that the news spy current learning process was more about carefully weighing the risks and opportunities of decentralised currencies before imposing a legal framework on them.

“I think we are just beginning to learn and understand what the good and bad ideas are [in crypto currencies]. I don’t think this [upcoming regulation] is imminent”,

said the president’s special advisor. With his statements Joyce brings further reassurance into the discussion about the upcoming US regulation. Previously, hearings of the US Senate with the responsible supervisory authorities had led to speculation about approaching laws.

Nevertheless, Joyce stated on Friday that the criminal potential of crypto currencies was particularly problematic:

“We are concerned. The Bitcoin concept has advantages. But at the same time, if you look at how Bitcoin works after a crime has been committed with it, you can’t always turn back the clock and withdraw the currency [editor’s note: or payment].

Joyce in Munich believes that anonymity and a lack of traceability are particularly challenging. Once a year, international leaders, top politicians, military officials, security experts and representatives of international organisations, academia and business debate current issues and challenges in security and defence policy. It is the largest meeting of its kind in the world.

IMF and US Treasury: curbing crypto-crime

With his statements Joyce as representative of the White House in Munich reflected on Friday also the opinions of the US Secretary of the Treasury Steven Mnuchin. This had spoken last approximately in the context of the World Economic Forum in Davos of wanting to fight criminal machinations in the haze circle of crypto currencies. He had also given reason to reassure future laws. At present the same laws and editions would apply to crypto currencies and their owners as to each other bank.

The demands of the International Monetary Fund (IMF) sounded more drastic this month. Its head, Christine Lagarde, predicted last week that global crypto regulation was “inevitable” ahead. The IMF chief also sees reasons for this primarily in the dangers of illegal use. She stressed that the IMF is currently actively pursuing efforts to curb the possibilities of money laundering and terrorist financing through digital currencies. It was necessary to know who was using Bitcoin and whether the necessary conditions were in place.

Ethereum (ETH) – Course analysis KW15 – Escape the downward channel

In this week the Ethereum course could rise around 8 %. The resistance described by the EMA50 could be finally broken again since one month. This breakthrough as well as a bounce at an important long-term support lead to a benevolent assessment of the price movements after the downward channel.

The Ethereum price has risen slightly this week

Since April 6th, the price has been in a tentative uptrend, which has meanwhile raised it above the exponential moving average EMA50 and led to a test of the EMA100. Overall, the price is bullish. Currently the price fights against a slight resistance at 339.56 Euro. The support is described by the EMA50 and is at 325.33 euros. That knows to please nevertheless a little: After Ethereum had fallen almost constantly in a downward channel for several weeks, the price was able to catch up again and is currently trying to defy the bear market.

The price has risen slightly in the last week and was thus able to overcome the downward channel that had existed for a month. In this rise, the exponential moving average was surmounted – for the first time in a month. The price is currently testing the resistance described by the maxima of April 3 and 9.

The MACD (second panel from above) is positive and rising. The MACD line (blue) is above the signal (orange). The RSI is at 62 and therefore bullish. Overall, the situation is bullish according to the price, trend and indicators.

The long-term perspective

Even in the longer term, there is a small reason for hope: One can see that the price was tested on the long-term support, which is described by the minima of mid-May, July and September last year, but the price is currently bouncing off it. A negative but rising MACD and a RSI rising out of oversold support the bullish view above.

Support and Resistance
The first support level is 325.33 Euro and is described by the exponential moving average EMA50. Another important support level is defined by the weekly minimum of 297.04 Euro.

The first resistance level is defined by the current plateau and is 339.56 Euro. Should the price overcome this level, further resistances would be described by the EMA100 at 346.99 Euro and by the 38.2% Fib Retracement-Level regarding the development between 21 and 30 March at 365.20 Euro.

Entry points, stop losses and targets
One approach would be to enter a long position with a stop loss at the first support and a target at the 38.2% fib retracement level. Cautious investors can wait to see whether the first resistance at 339.56 euros will be overcome.

If the price rebounds at this level, it must be tracked again whether the price can be caught at one of the two support levels. These would then be possible good entry points.