Seller Of Luxury Miami Condo Demands To Be Paid Exclusively In Bitcoin

And they said bitcoin would never work as a currency.

While that might be true for small transactions - for now - real-estate markets across the US are increasingly demonstrating that bitcoin is a viable medium of exchange. Case in point: the seller of a luxury Miami condo will only accept payment in bitcoin. The asking price - according to real-estate listings site Redfin - 33 bitcoins, or about $550,000 at bitcoin’s present valuation.

According to Redfin, this is the first time a seller is exclusively accepting payment in bitcoin. The seller’s identity wasn’t immediately clear.

But while this might be the first time that Redfin has noticed the phenomenon, homesellers have been asking to be paid in bitcoin since at least 2013, when an anonymous seller of a luxury condo in the Trump Soho of all places listed the price as 24,700 bitcoin, according to the Daily News. While this sale was t\he first that was documented in the media, it’s also notable that it occurred before the first bitcoin bubble burst.

Also over the summer, a realtor in Texas revealed that one of her clients had accepted payment for their home in bitcoin. The number of coins – and the identity of the seller and buyer – weren’t disclosed.

And as we recently reported, more realtors in hot markets like New York City and Miami are demanding to be paid in cryptocurrency, sometimes exclusively.

This trend in broader crypto acceptance - contrary to mainstream media reports - is undoubtedly a factor behind the unprecedented price appreciation whch has seen bitcoin soar from $1,000 to $19,000 in 2017.

Meanwhile, any buyer who has accepted bitcoin as payment and kept it, has so far managed to generate a staggering profit, given the digital currency’s aggressive appreciation. The real test will come after the digital currency inevitably tanks again.

Comments

floosy Dec 14, 2017 7:30 AM Permalink

I have considered something for a while now, and it is this:The crypto pandoras box is well and truly open and there won't be a SINGLE global crypto currency, there will be several.  And each will be mainly utilised by different social levels or organisations.

Juliette Dec 14, 2017 12:01 AM Permalink

Apparent price manipulation through Bitstamp?   Either sth. is broken there .... or they employ artificial price caps which prevent the price of BTC from rising!   https://pp.userapi.com/c840024/v840024397/57921/0HMFg_KKseQ.jpg   On Bitstamp, the price never went above 16,000 ... not even one cent! It was always capped there.   At the same time, the price at other exchanges such as Bitfinex was fluctuating widely from 15,900 to 16,350 USD.  UPDATE: After I published my observations here on ZH, it looks like they disingeniously decided to set a new, "smarter" cap: 16,091.67 USD now instead of the 16,000 round figure before.https://pp.userapi.com/c824700/v824700397/59386/-ahBz0NwaZ4.jpg If this is a price manipulation scheme, they will have to employ smarter tactics in the future ...Currently they seem to have lifted their cap, but their BTC price is still trailing other exchanges like Bitfinex a lot ... which is the whole point of their exercise: Keeping the price of BTC suppressed! Current price on Bitstamp is 16,215 USD, whereas on Bitfinex it is 16,503 USD!

Ikiru Dec 13, 2017 10:13 PM Permalink

To only accept Bitcoin is asinine, and I even like cryptos. Why would you limit your market of buyers? If you want Bitcoin, you could immediately buy Bitcoin with the cash. Just a stunt to get attention for his overpriced condo...I guess it worked in that regard.

evokanivo Dec 13, 2017 10:06 PM Permalink

1) could be someone rich who's trying to pump the value of shitcoin2) if it's newsworthy that there is one person accepting shitcoin, that is hardly proof of long-term viability3) no transaction has occurred yet, so even this "newsworthy event" is hype until then all you dumbfucks who bought bitcoin at $15k+ are gonna lose your shirt.

FreeEarCandy Dec 13, 2017 10:03 PM Permalink

Sometimes it doesn't pay to point out the obvious mistake to the hopeless. Experience is a better teacher than me. Therefore, sell all your shit and by bitcoins. Please! Just buy bitcoins. Don't use cash, gold or any other instrument. Go get'em tiger! Hurry or you'll lose out! What are you waiting for? All the condos to sell out? Hurry! Hurry! Hurry! Its going up and there is no end in sight!!! Please buy more bitcoin!!!

Zepper Dec 13, 2017 9:58 PM Permalink

Get this fuckers real name. Do an investigation in to his alleged crimes. Anyone asking to be paid exclusively in bitcoin is hiding something. IRS go get him. I would say FBI go get him but we all know those fuckers are a more corrupt criminal organization than anything in modern history.

Zepper GunnerySgtHartman Dec 14, 2017 12:40 AM Permalink

Here let me educate you... Bitcoin is the globalist establishments way of getting around any countries laws, taxes, etc. Think of it this way, not one MSM has sounded the alarm on it. Is that not odd that no media outlet including the stupid cunts at ZH have called out Bitcoin for what it is? Anyone with a fucking brain can see what cryto is and its not good, except to make a few early adopters in the pyramid scheme a little bit of money.The same fuckers that came up with Facebook are behind it! The very same fucking cunts! No nothing, no ringing of bells?  McAfee who from some reports killed his neighbor and had to hightale it out of Balese(or wherever) is touting this. No nothing, No ringing of bells?You fuckers are the lackeys... the problem is that by the time you stupid cunts see the train you have already been run over by it. Its true then the prospect of making money does make people fucking blind and retarded.

In reply to by GunnerySgtHartman

DisorderlyConduct Dec 13, 2017 9:57 PM Permalink

Currency? Hardly. The seller will not remain on 33 bitcoin because the value will fluctuate wildly.It's like selling a house for "kinda around $550k or whatever."It's just plain stupid. Who lives like that?

razorthin Dec 13, 2017 9:55 PM Permalink

Sure, only because he thinks it's going to $100K.  That's speculation based on the underlying $USD value of bitcoin, not a testament to its currency utility.