Tesla cars can be purchased in bitcoins

Tesla cars can be purchased in bitcoins

Elon Musk, head of the company, said Tesla customers can now buy their cars with bitcoin.

Well known Bitcoin boyfriend Mr. Musk made an unexpected announcement in a tweet.

But the value of bitcoin is rising rapidly - meaning the car’s cryptocurrency price is changing from day to day.Tesla has invested heavily in digital currency, buying b 1.5 billion (£ 1.1 billion) worth of bitcoin.A clear vote of confidence saw a record level of bitcoin prices.

Media Caption Bitcoin Explains: How Cryptocurrency Works?

The bitcoin price, which was announced on Wednesday, fell slightly.

Mr Musk tweeted that Tesla was running its own internal software to handle bitcoin payments, which would work "directly to bitcoin nodes".

In this sense, bitcoins are computer processing transactions.

In a clear attempt to acknowledge the concerns of bitcoin enthusiasts who want the ecosystem to thrive, Musk said: "Bitcoins paid to Tesla are kept as bitcoins, which are regulated by Fiat [government]"

In the US, orders for new Tesla cars can now be obtained with a $ 100 deposit in Bitcoin.

Mr Musk said the facility would be implemented in other countries in the coming months.

The volatile price of bitcoin uses it to buy real world goods for something complex.

For example, if Tesla's terms and conditions require a refund, it can pay the exact US dollars based on the bitcoin or car dollar price paid - whatever it wants.

So if the bitcoin price goes up before the refund, the customer may lose out.Take care

The announcement came on the same day that the US magazine Consumer Reports warned that Tesla had helped develop its own self-driving technology for recording and transmitting video footage of cars.

If Tesla is capable of not paying attention to the driver, it needs to warn the driver right now, as other automakers have already done," it said.

John Davison of the Electronic Privacy Information Center told Consumer Reports: "Under Tesla's policy, it is always possible for insurance companies, police, regulators and other parties to obtain that data in the event of an accident."

Burn

Last week, Mr Musk denied reports that his cars were using sensors and cameras to spy on the Chinese military, saying Tesla could be "shut down" if it did.

On Tuesday, CNBC said the U.S. federal agency, Tesla, was examining complaints about solar panels putting out fires.

A whistleblower who worked for Tesla has made official complaints to government officials about "unacceptable risks" in installing solar panels, the report said.

Seven of the well-known fire incidents on the roofs of Wal-Mart stores in America have been blamed on the supermarket giant's negligence in the installation.