Buying (a) Fiat (car) with Bitcoins

With all this talk of trading Fiat for Bitcoins, I thought it would make sense to trade Bitcoins for a Fiat (a car), as it might be kinda funny. Firstly, I had to find a Fiat vehicle that fit my needs. Living in an urban environment,  with two young kids, I figured a Fiat Bravo 16v should fit the bill, with 5 doors, 42MPG, and a small kick that should help keep driving slightly less mundane. So! I found such a vehicle, a 2007,  grey Fiat Bravo 16v for £3,499 from Day’s nearby in Swansea. bitcoins for fiat currency

Now, I just had to: convince the garage owner that Bitcoin is a legitimate currency, teach him how to use Bitcoin, and get him to use Bitcoin for this trans action.

The conversation went like this:

Me: “Yeah, so I want to buy this car. Let’s do it”

Car dealer: “Okay. Great”.. <handshake> … “So how will you be paying?”

Me: “Bitcoin. Can we do this in Bitcoin? I can transfer it, and it’ll be confirmed in your wallet with 10 minutes.”

Car Dealer: “Bitcoin? I’ve heard of it. Look mate. I don’t take Bitcoin. I never have done. We need either bank transfer, card, or cash”

Me: “I have the Bitcoin, it’s as good as cash. Better in fact.”

Car Dealer: <confused> “yeah, I don’t think so”

me: <relishing> “It’s Bitcoin or another dealership and another car. But I don’t want to do that. I like this garage, I like this car”

Then I took 5 minutes to explain why Bitcoin is here to stay, how its valuable, how it’s a medium for financial exchange and for how for him it’s actually little risk, he can swap from bitcoin back to fiat (pounds). car_dealer

To give Chris Jones, the car dealer,  some credit, he actually listened to me. I mean, I could have been some loonamoron, right? Or perhaps it was just that it was a Tuesday afternoon and no one else was in the car yard.

Me: “As soon as the Bitcoins have hit your account. You can initiate an exchange back to Fiat (currency)”

Car dealer: “Can you stop talking about pound sterling as fiat? it’s all getting a touch confusing”. So there you have it. I helped Chris set up an account on a Euro exchange www.btc-e.com. (at time of publishing still no instant UK exchange). He was happy with ending up with Euros, as he deals with some European countries too.

We did the calculation, at £3,450 GBP, an exchange rate to Bitcoin of £554.793=1BTC, that is

 6.21853 BTC.

Which is how much it cost me to by Fiat with Bitcoins.

I pressed send from my Android Bitcoin Wallet.

We chatted about how car sales were picking up, and before long, we checked the blockchain, to see the transaction. And then I drove away with my lovely second hand Fiat.

Note: None of this actually did happen, that car dealer photo isn’t the said guy, because I still as yet haven’t earned any Bitcoins. To make this happen and to spread the word about Bitcoin, I need your donations.

So support this blog, BTC to : 1DtGfZGUrHCN5K2hEW2YvW9NKW7cDChLg3 – Thanks

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