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The saga of Lamborghini with Bitcoin [BTC] and the crypto-world

Srijana Dey



The saga of Lamborghini with Bitcoin [BTC] and the crypto-world
Source: PxHere

Lamborgini, one of the most expensive sports car around the globe has become the ultimatum for all the people involved in the crypto-space. The car has become so famous that people have started to value Bitcoin and other cryptocurrencies according to its price.

According to the official media page of Lamborghini, the company has seen seven years of consistent growth. The Italian automobile company has seen a growth of almost 10% worldwide in 2017 when compared to 2016. The sale has tripled since the fame of Bitcoin started roaring in the market.

The term ‘Lambo’ is almost used on an everyday basis. Charlie Lee, Founder of Litecoin used the term quite often as well to keep the crypto-enthusiasts motivated. He is noted for using terms like ‘Lambo-lite’.

Lamborghini became famous in the crypto-space ever since Costa Mesa store started accepting Bitcoin as payments in September 2017. This led to a lot of people and crypto-influencers buying Lamborghini with Bitcoin.

Mike Laurent, a crypto-evangelist says,

“I’m going to have so many Lambo’s soon that I will be in history known for having a lot of Lambo’s. Bitcoin is going to be in history for a lot of reasons and Lambo is going to be one among them.”

Alex Richardson, a crypto-investor says,

“This has become so common in the space. People don’t seem to ever get over it. They fail to understand that cryptocurrency is not just about Lambo or the moon, it’s about revolution, about being a part of something huge.”

BeurreDePinotee, a Reddit user says,

“So Lambos are the classic memes here and we all heard the stories of people who want to get one. Realistically, unless you bought many BTC very early, Bitcoin isn’t going to make you rich enough to drop 250K on a fucking car. Still, it sure can make you wealthy/comfortable enough to treat yourself a bit ;-)”

The coin has become a common slang in the crypto-space just like HODL, FUD, FOMO and more. The trend ‘whats your Lambo’ went viral and has been taken the space by storm ever since. The word Lambo has become has a motivational word for all the investors and is used to urge all the investors to HODL whenever the market is falling. Up until yesterday, even CoinMarketCap started to value the prices in terms of how many Lamborgini’s can be brought with the cryptocurrency.

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Bitcoin [BTC]: Debating on king coin’s transaction speed is a red herring argument, says Charlie Shrem

Akash Anand



Bitcoin [BTC]: 'Debating about BTC's transaction speed is a red herring arugument', claims Charlie Shrem
Source: Pixabay

The debate around Bitcoin [BTC] and its effectiveness in the current financial atmosphere has been a long ensuing debate in the cryptocurrency industry. The supporters and naysayers of the world’s largest cryptocurrency have locked horns on various aspects of the coin, be it the coin’s characteristic as a store of value or the amount of time it takes to settle Bitcoin transactions.

In a recent tweet, Charlie Shrem, the Founder of and one of the most popular Bitcoin proponents, spoke about the topic, directly addressing critics who had a problem with settlement times. His tweet read:

““Transaction speeds” when debating #bitcoin vs other faux-crypto’s is red herring argument. There were plenty of fast ways to move money before bitcoin. That’s not why we’re here. We’re building a censorship resistant value network that can-never be controlled by a single party.”

Bitcoin proponents had always made it a point that the cryptocurrency was never meant for fast transactions, but rather to compete with Gold as the standard for a ‘store of value’. Even Samson Mow, the CSO at Blockstream had earlier claimed that BTC was never meant to be fast by adding:

“If you want money, it does not need to be very fancy, and a lot of the altcoin projects; I don’t wanna go into it but they are just based on gimmicks. What you really want is sound money, something which is reliable and bulletproof.”

The ‘BTC is not effective’ camp had responded voraciously many a time by stating that something aimed at changing the financial dynamic should be nothing short of fast or else there was no way it could become an effective form of value. This rebuttal for this argument was that Bitcoin’s goal was to create a cryptocurrency integrated mainstream structure and even though it was not lightning fast, the transaction speed of Bitcoin was still faster than that of current methods like Visa and MasterCard.

Charlie Shrem was also in the news recently when he stated that when Mt Gox imploded, the market created the first “token as debt”. The statement was made in connection with the massive loss of funds which occurred following the hack of the then largest cryptocurrency exchange.

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