I will accept a house deposit in Bitcoin

o07 (67)in #realestate • 7 years ago (edited)

This is what a vendor has said to his real estate agent when putting his house on the market in Melbourne.

The man is willing to accept Bitcoin as payment, in what could be the first cryptocurrency property transaction in Australia.
He will sell for close to $900,000 AUD, which equates to roughly 72 Bitcoin, but as it stands he’s only willing to accept part of the purchase price to his digital wallet.
Consumer Affairs Victoria confirmed it was legal for the deposit or settlement amount to be paid in any asset or security agreed between the buyer and seller, including Bitcoin.
We are moving forward into uncharted territory with full media coverage on the back of this venture, where prior there was a silence from the general public who in a large part did not understand how Bitcoin worked until it hit mainstream television and radio recently.
This is surely having an effect on new money so to speak being invested into Bitcoin with late adopters wanting a piece of the pie before its gone or too big to obtain.
Now that more people each day are feeling comfortable with the idea of a digital wallet it's an exciting time to be a early adopter on Steemit.
I would be interested to know what your thoughts are on how you think this will change, not only the housing market but other main stream transactions moving forward?

@o07 member of teamaustralia and steemsilvergold

Enter my gold bullion giveaway here

#teamaustralia #money #bitcoin #cryptocurrency

7 years ago in #realestate by o07 (67)

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chronogn (60) 7 years ago

Wait, is that the actual home being sold for $900,000 AUD??? Looks like a storage shed. lol

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o07 (67) 7 years ago

Hi @chronogn

It's a 5 bedroom house actually I only added the main photo.

If you want to see the house listing and images click here

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chronogn (60) 7 years ago (edited)

Yeah, thats more like it. It really doesn't look like much from the outside.

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portiajay (43) 7 years ago

And so who's going to buy it!? Or who wants to buy it and we can all donate some coin just to make this kind of history happen! Oh than it could be timeshare vacation house using bitcoin!

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o07 (67) 7 years ago

Timeshare I like it!

I shotgun New Years Eve 2018 lol

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rebeccabe (63) 7 years ago

With your dollars being worth more than US dollars and the fact it is btc..wow that is one expensive tiny home.

I am curious about how the transfer will occur and if it is taxable.
Keep us posted. (no pun intended)

I believe I entered your silver contest to no avail. Oh, well lol.
I see now you have the gold one.

Have a great day I enjoyed your post. 💯

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o07 (67) 7 years ago

Thanks for your comment,

The silver contest is still waiting for any final entries as the window was open for 14 days as long as the person had upvoted the post.

After reading further into the information I could find its looks like the Australian Taxation Office treats Bitcoin as an asset, and requires a full record of Bitcoin transactions to be kept.

I'm not sure about the breakdown of how this works but that is what it seems to say in the media.

I will be doing a winners post in about 7 days time to share the results, please enter the gold bullion contest if you like :)

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rebeccabe (63) 7 years ago

I'll check into it. Thanks for your quick and friendly response.
🐎

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o07 (67) 7 years ago

Hey @rebeccabe

I missed part of your original message!

It's a 5 bedroom house actually I only added the main photo.

If you want to see the house listing and images click here

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kryptocek (53) 7 years ago

Looks like its time to go back to Australia! :D

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o07 (67) 7 years ago

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owenwat (60) 7 years ago

It's definitely the future!

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mawit07 (66) 7 years ago

72 bitcoins does not seem like a lot for number of coins, but when you dig into how difficult it is to have that many bitcoins at current prices I feel so jealous of the early adopters.

If this is for a primary home than definitely not going to hesitate. Otherwise investing in bitcoin is likely to reap better rewards than real estate. No worry on maintenance or collecting rent. Investing in bitcoin is basically saving your pass key on a hardware wallet and sit back.

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methusaleh (39) 7 years ago

'....prior there was a silence from the general public who in a large part did not understand how Bitcoin worked until it hit mainstream television and radio recently.'

And they still don't understand for the most part but more worryingly probably got their new 'knowledge' from some clickbaity '10 things you need to know about bitcoin' post or the tabloid equivalent thereof. What could possibly go wrong??! 🤤

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minnowpond (62) 7 years ago

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