Bitcoins & Litecoins - Real Estate

engelo10

engelo10

Hey guys,

I hope your all well.

There is a company in Canada that started accepting Bitcoins as rent payments. This stuff looks like its really taking off.

Does anyone have knowledge on the new Crypto currency?

How could it work in real estate? Could you potentially sell your house for Bitcoins?

Thanks for reading and I am looking forward to your replies.
 
At this point I'd be wary of accepting/paying bitcoins for larger transactions such as realestate. For smaller more common transactions like rent it may work.

The problem with the currency is its volatility. If someone had a 90 day settlement the bitcoin deposit could be worth much more or less than the initially intended amount.

Looks like the currency is here to stay. Last I heard the Packers and Branson were buying into it.
 
Sounds like the Emperors New Clothes to me! Sounds like the barter system which was set up 20 years ago. There is no way I am accepting rent in virtual currency. Is Coles going to accept it from me? Is the electricity and gas going to accept it?
 
Jake Milne said:
At this point I'd be wary of accepting/paying bitcoins for larger transactions such as realestate. For smaller more common transactions like rent it may work.

The problem with the currency is its volatility. If someone had a 90 day settlement the bitcoin deposit could be worth much more or less than the initially intended amount.

Looks like the currency is here to stay. Last I heard the Packers and Branson were buying into it.
Click to expand...

Thanks for your comment Jake.

I wish I knew about this a couple of years ago. There is no point being another sheep I guess and following everyone lollol

Prob missed the boat on Bitcoin.

Litecoin still looks interesting - Maybe lol
 
I have some money in Bitcoins...brutal falls past 2 days with the news in China. I'm holding it for long term (assuming there's a long term for BTC lol) so will check back in a year...
 
ZOMG said:
I have some money in Bitcoins...brutal falls past 2 days with the news in China. I'm holding it for long term (assuming there's a long term for BTC lol) so will check back in a year...
Click to expand...

Yeah

Got hit pretty heavy

Hoping for some more bad news.

Would mind buying a few for fun haha
 
Jake Milne said:
At this point I'd be wary of accepting/paying bitcoins for larger transactions such as realestate. For smaller more common transactions like rent it may work.

The problem with the currency is its volatility. If someone had a 90 day settlement the bitcoin deposit could be worth much more or less than the initially intended amount.
Click to expand...

A lot of merchants who deal with them use a service to instantly convert all transactions to dollars so the bitcoin price itself doesn't matter.

ZOMG said:
I have some money in Bitcoins...brutal falls past 2 days with the news in China. I'm holding it for long term (assuming there's a long term for BTC lol) so will check back in a year...
Click to expand...

Official Statement from People's Bank of China:
http://www.pbc.gov.cn/publish/goutongjiaoliu/524/2013/20131205153156832222251/20131205153156832222251_.html

Human Translation:
http://www.reddit.com/r/Bitcoin/comments/1s5hzl/my_human_translation_of_the_china_regulation/

Looks like they are welcoming Bitcoin but want people to be careful and thankfully they don't want banks to get involved. It makes more sense if you think about bitcoin as a commodity rather than a currency but it's strength is anonymity and as a Paypal substitute. Silk Road got caught by the Feds because they kept all the wallets on the site's computers. If you buy bitcoins, don't keep all your coins on the website, transfer them to your own wallet like the Winklevoss twins.
http://www.zerohedge.com/news/2013-04-11/winklevoss-twins-revealed-owning-1-all-bitcoins
 
Jake Milne said:
For more information check out:

http://www.michaelnielsen.org/ddi/how-the-bitcoin-protocol-actually-works/

And for other crypto currencies see:

http://www.coinwarz.com/cryptocurrency

I've a friend who's quite into this and he recommends world coin right now.
Click to expand...

Thanks Jake,

I had no clue about it until the media started going crazy.

A bit complicated for someone that isn't tech savy as myself.

I would love to connect with an expert in the field and pick their brain a bit.

It could be big moving forward.

Many online merchants are accepting payments now.

Check out this website:
http://www.bitpremier.com/

Freaky stuff

haha

Thanks.
 
TingTong said:
A lot of merchants who deal with them use a service to instantly convert all transactions to dollars so the bitcoin price itself doesn't matter.



Official Statement from People's Bank of China:
http://www.pbc.gov.cn/publish/goutongjiaoliu/524/2013/20131205153156832222251/20131205153156832222251_.html

Human Translation:
http://www.reddit.com/r/Bitcoin/comments/1s5hzl/my_human_translation_of_the_china_regulation/

Looks like they are welcoming Bitcoin but want people to be careful and thankfully they don't want banks to get involved. It makes more sense if you think about bitcoin as a commodity rather than a currency but it's strength is anonymity and as a Paypal substitute. Silk Road got caught by the Feds because they kept all the wallets on the site's computers. If you buy bitcoins, don't keep all your coins on the website, transfer them to your own wallet like the Winklevoss twins.
http://www.zerohedge.com/news/2013-04-11/winklevoss-twins-revealed-owning-1-all-bitcoins
Click to expand...


You can even write the code on paper and put it in actual wallet haha

I heard of people engraving the code on coins lollol

Thanks
 
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