Coinmarketcap’s April Fool’s joke yesterday of adding a “Lambo” currency reference to its listed assets – one Lambo equivalent to $200,000 – is just another one in a line of inside jokes in the crypto community about the goal of turning crypto into a Lambo.
The website “When Lambo” – a phrase described on the site as “probably the most used phrase in the crypto universe, right next to ‘When Moon?’” – shows crypto investors a fictional date that they will be able to purchase a $200,000 Lamborghini Aventador.
Visiting the site, you enter in any amount of your choice of 50 cryptocurrencies and then press “When Lambo?” to see when you will be able to afford the car.
The website works by using a “special formula” based on the average price of your chosen currency over the past week.
Newly made crypto millionaire Peter Saddington brought the idea of owning a Lambo earned with cryptocurrency into the mainstream last fall when he reportedly become the “first person ever to buy a Lamborghini Huracan with Bitcoin!,” according to his YouTube video describing the purchase.
However, not every crypto investor is a fan of the practice of turning crypto holdings into flashy expensive items – Ethereum (ETH) co-founder Vitalik Buterin, for one, has made public his dislike for the lambo trend in the crypto community:
Vitalik “Not giving away ETH” Buterin
*All* crypto communities, ethereum included, should heed these words of warning. Need to differentiate between getting hundreds of billions of dollars of digital paper wealth sloshing around and actually achieving something meaningful for society. https://twitter.com/AmirPolyteknik/status/945693434500829184 …
In December of this year, Cointelegraph reported on the presence of a “Crypto Lamborghini” at Blockshow Asia 2017. Presented by BitCar, the lambo represents their vision for “Fractional Ownership of Exotic Cars.”