From Miami To The UK: Here Are The Penthouses And Homes Being Bought In Bitcoin
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Heisy you’ve been saying “nothing is listed in Bitcoin,” everyone always says they have “this much $ in Bitcoin.”
Clearly, that is no longer true.
If this is happening, does it change your view? That was a primary argument of yours why BTC are “space tokens.”
Rudy
what do you mean “clearly that’s not true”? do you think these people would be accepting Bitcoin as payment for homes if Bitcoin didn’t have a dollar value?
i guarantee you Go Home would stop accepting payment in Bitcoin tomorrow if UK regulators made convertibility into pounds illegal.
see that’s what people just can’t seem to conceptualize. what is Bitcoin without convertibility? it’s nothing. what is 33 Bitcoins without convertibility?
see what I mean? this is circular. the premise doesn’t make sense without the convertibility. it’s all based on the assumption of convertibility.
you cannot do anything with “a Bitcoin” because “a Bitcoin” isn’t a thing. You can’t eat it, drink it, snort it, smoke it, build anything out of it, touch it, smell it, see it, nothing. it doesn’t exist.
it has no meaning outside of convertibility.
Heisy, can you really not imagine a scenario where Bitcoin becomes a self-enclosed transactional system? That’s what this is about, isn’t it? That’s why having real estate property listed and sold in Bitcoin, and rented out in Bitcoin, is significant, right?
Because it’s one step closer to that self-enclosed system where individuals can earn, spend, and invest exclusively in Bitcoin.
Your point that Bitcoin is nothing without convertibility is kinda obvious. Of course — at this stage in it’s evolution — Bitcoin is nothing without convertibility. But we as investors (or speculators in this case) are rewarded for looking into the future and forming a view of what the future will bring. So I’m disappointed to see you repeatedly argue against Bitcoin based solely on the current dynamic and status quo processes, and not hear you ever even attempt to look into the future. With all of your other work, you are spot on relating current trends and historical relationships to what then may transpire in the future. Id question why you seem unable to do this with Bitcoin, even as events develop contrary to your thesis? Come on, man! Maybe it’s a generational thing; my father, a retired doctor in his 60’s, has done so well by capitalist markets and the almighty dollar that he also cannot imagine why Bitcoin even exists.
Lastly, your point about not being able to eat, burn, etc Bitcoin can all be applied to the US dollar, except that BTC solves double spending problems and is easier to transact over international lines and distance. Basically, BTC is an inevitable evolution of Fiat currency. Government irresponsibility (yay tax reform and deficit spending!) Is just on additional tailwind at Bitcoins back.
Heisy, I challenge you to imagine — just imagine — a scenario in which you are wrong here. What do you see?
Oh and I forgot to add: I won’t accept the 60-year old male in finance favorite scenario of “the government will make it all illegal.” We all know that is a possible future scenario, perhaps even the most likely future scenario. But, unlike you, my dear Heisy, I don’t think it’s the ONLY possible future scenario. So I want to hear another possible future scenario from you, as it relates to Bitcoin (or crypto currency in general).
Rudy
Anonymous
How does the local authorities assess the “real value” of this property? How is that taxed? Bitcoin is not acceptable payments for taxes. What this smells like is a good way to launder profits of either Bitcoin or something else that wants to be hidden.
Yup. Some high-end homes in Vancouver have been sold in bitcoin-only since at least 2014.
Dollars not accepted.
Seems odd to limit your market that way, unless it’s for why you say. Plus I thought it was unlawful to not accept “legal tender” currency for a purchase.
The common “they’ll make it illegal to convert bitcoin to dollars” refrain seems practically impossible now that regulators have legally created bitcoin futures trading which is legally settled in dollars. A court challenge could bring relief, at the very least temporarily.