Illusion of Prosperity: The Sarcasm Report v.282

Saturday, February 27, 2021

When using a credit card to buy bitcoin, what's the worst that can happen when you profit every time?

Who Struck John said...: Ask Elon Musk.; February 27, 2021 at 1:03 PM
Stagflationary Mark said...: The 10 step perpetual motion plan to accumulate an infinite fleet of Tesla cars for free:

1. Use credit card to buy bitcoin.
2. Tesla buys bitcoin and drives price higher.
3. Sell bitcoin.
4. Repay credit card.
5. Buy Tesla stock with the leftover profits.
6. Post how well your plan is working on social media.
7. Watch Tesla stock soar as others do what you did.
8. Sell Tesla stock at a higher price.
9. Buy new Tesla car with cash.
10. Repeat.

Everybody wins! And wins! And wins! Once again, what could possibly go wrong? ;); February 27, 2021 at 2:28 PM
Mr Slippery said...: Step 9 should be Buy new Tesla car with bitcoin!; February 28, 2021 at 1:58 PM
Stagflationary Mark said...: Already sold the bitcoin in step 3. However, since there is apparently never a bad time to buy bitcoin...

9a. Use cash to buy bitcoin back.
9b. Wait a few minutes so bitcoin can further appreciate.
9c. Buy a Tesla car with bitcoin!

Your way is definitely better! You’ll be able to buy a more expensive Tesla each time. ;); February 28, 2021 at 5:42 PM

Illusion of Prosperity