Finally, at least the British legal field will evaluate crypto as property, unlike the United States, which does not come to a decision on how to classify it. But does this not give me the opportunity to sell, give and conduct other operations with cryptocurrencies as property as property? For long-term holders, this definition is better than for high-frequency trading.
Yes, that's right, bitcoin and crypto are property, but if you are still mining, then this activity is considered as a business and therefore is also priced at additional rates. And the tax will always be deducted from revenue during the sale of coins (property). Because those who trade often and a little even in a better position than holders
Topic: [2019-02-24] 3 Properties,are being sold for cryptocurrencies in the Philippines (Read 284 times)
November 22, 2019, 07:56:45 AM
November 22, 2019, 07:56:11 AM
Finally, at least the British legal field will evaluate crypto as property, unlike the United States, which does not come to a decision on how to classify it. But does this not give me the opportunity to sell, give and conduct other operations with cryptocurrencies as property as property? For long-term holders, this definition is better than for high-frequency trading.
Yes, that's right, bitcoin and crypto are property, but if you are still mining, then this activity is considered as a business and therefore is also priced at additional rates. And the tax will always be deducted from revenue during the sale of coins (property). Because those who trade often and a little even in a better position than holders November 22, 2019, 07:55:45 AM
Finally, at least the British legal field will evaluate crypto as property, unlike the United States, which does not come to a decision on how to classify it. But does this not give me the opportunity to sell, give and conduct other operations with cryptocurrencies as property as property? For long-term holders, this definition is better than for high-frequency trading.
Yes, that's right, bitcoin and crypto are property, but if you are still mining, then this activity is considered as a business and therefore is also priced at additional rates. And the tax will always be deducted from revenue during the sale of coins (property). Because those who trade often and a little even in a better position than holders November 22, 2019, 07:54:41 AM
Finally, at least the British legal field will evaluate crypto as property, unlike the United States, which does not come to a decision on how to classify it. But does this not give me the opportunity to sell, give and conduct other operations with cryptocurrencies as property as property? For long-term holders, this definition is better than for high-frequency trading.
Yes, that's right, bitcoin and crypto are property, but if you are still mining, then this activity is considered as a business and therefore is also priced at additional rates. And the tax will always be deducted from revenue during the sale of coins (property). Because those who trade often and a little even in a better position than holders November 22, 2019, 07:53:49 AM
Finally, at least the British legal field will evaluate crypto as property, unlike the United States, which does not come to a decision on how to classify it. But does this not give me the opportunity to sell, give and conduct other operations with cryptocurrencies as property as property? For long-term holders, this definition is better than for high-frequency trading.
February 28, 2019, 05:47:53 PM
My only comment on this one is why in Iloilo? Why not they sell properties wherein there are people who can afford it, let's say in the financial district of Makati?
I don't get this part.
Is this Iloilo more expensive or ..cause numbeo shows me prices for houses to be 80% than in the other your mentioned , Makati.
Of course, people living in the city center would afford a house in the center, but I don't understand why the same people wouldn't be interested in these ones... Bad neighborhood? Doesn't look like in the pics.
As for why these properties and not others, probably this guy is the only one accepting cryptos on the entire house market
no matter which place.Provincial or into big cities and also the owner likes to receive crypto as a payment,its not necessarily for the buyer to be a resident of iloilo since the marketing
goes thru online and scattered then possible buyers might be also from other cities.
February 28, 2019, 05:29:24 PM
3 Properties, are being sold for cryptocurrencies in the Philippines
The homeowner of not just 1, but 3 houses in the Philippines, is looking to sell them in exchange of cryptocurrencies.
On three separate Facebook posts, Dr. Joel Advincula, licensed broker and realtor at RE/MAX Advantage Iloilo, has recently shared 3 properties being sold in Iloilo City, Philippines.
One of the owners of the said properties, investor Jonha Richman, is open to either cash buyers or “cryptocurrencies” – also known as ‘digital money’ as form of payments.
Full article on https://www.cryptosteem.com/properties-sold-for-cryptocurrencies/
The homeowner of not just 1, but 3 houses in the Philippines, is looking to sell them in exchange of cryptocurrencies.
On three separate Facebook posts, Dr. Joel Advincula, licensed broker and realtor at RE/MAX Advantage Iloilo, has recently shared 3 properties being sold in Iloilo City, Philippines.
One of the owners of the said properties, investor Jonha Richman, is open to either cash buyers or “cryptocurrencies” – also known as ‘digital money’ as form of payments.
Full article on https://www.cryptosteem.com/properties-sold-for-cryptocurrencies/
Many people who are worried about their own security avoid appearing in the press to talk about money or selling a property and still asking that the method of payment be by bitcoin. So I wonder why this guy is doing this? Does he want to become famous? if the guy wants bitcoin, then he could sell using Fiat as a means of payment and then he would buy bitcoin.
February 28, 2019, 02:47:23 PM
My only comment on this one is why in Iloilo? Why not they sell properties wherein there are people who can afford it, let's say in the financial district of Makati?
I don't get this part.
Is this Iloilo more expensive or ..cause numbeo shows me prices for houses to be 80% than in the other your mentioned , Makati.
Of course, people living in the city center would afford a house in the center, but I don't understand why the same people wouldn't be interested in these ones... Bad neighborhood? Doesn't look like in the pics.
As for why these properties and not others, probably this guy is the only one accepting cryptos on the entire house market
February 28, 2019, 01:36:15 PM
My only comment on this one is why in Iloilo? Why not they sell properties wherein there are people who can afford it, let's say in the financial district of Makati? I don't know but I have a feeling that it won't attract crypto buyers in its somewhat in the province of the Philippines. They might as well put something for sale in Metro Manila or Makati City.
February 28, 2019, 10:16:07 AM
This is rather a PR move by him. If he really wants cryptocurrency he can sell it for fiat and then buy crypto. The result will be the same because there are no fes when you buy cryptocurrency OTC and very little fees when you buy on exchange.
Also selling for fiat would be much easier because not many people own crypto compared to those who own fiat.
Also selling for fiat would be much easier because not many people own crypto compared to those who own fiat.
exactly
Agreed and I reckon this proves that the article is only another clickbait to attempt to get more hits than it would have gotten without the sensationalism.
Without articles overexaggerating or omitting facts, treating rumors as official statements and of course faking stories entirely in some cases the whole press section would be as lively as the Death Valley.
February 26, 2019, 09:12:01 PM
@cryptosteem. Tell the writer of your article to specify what coins are being accepted by the house sellers. I reckon we should warn them to not accept Ethereum or Ripple as payment hehehe.
Most likely scenario is that a payment processor will be used for the conversion, so there isn't much for the seller(s) to lose here when it comes to depth or volatility. It has been done like this for quite a long period of time now.Overall, if you have something for sale, and you just want to get fiat, you'll accept any crypto currency that your payment processor accepts. Can't blame people for trying to reach as many rich crypto fanboys at once.
Agreed and I reckon this proves that the article is only another clickbait to attempt to get more hits than it would have gotten without the sensationalism.
February 26, 2019, 06:21:29 PM
@cryptosteem. Tell the writer of your article to specify what coins are being accepted by the house sellers. I reckon we should warn them to not accept Ethereum or Ripple as payment hehehe.
Most likely scenario is that a payment processor will be used for the conversion, so there isn't much for the seller(s) to lose here when it comes to depth or volatility. It has been done like this for quite a long period of time now.Overall, if you have something for sale, and you just want to get fiat, you'll accept any crypto currency that your payment processor accepts. Can't blame people for trying to reach as many rich crypto fanboys at once.
With this line:
Quote
When asked about the move, Jonha Richman, advisor to global hyper-growth companies, including the Litecoin Foundation, and James Richman, private investor at JJRichman, shared
We can already tell that they do accept or had the option to pay LTC.lolIts not being clarified though on what crypto they would accept but this is really a good news and would be advantage for the crypto users specially into that place.
February 26, 2019, 01:36:04 AM
@cryptosteem. Tell the writer of your article to specify what coins are being accepted by the house sellers. I reckon we should warn them to not accept Ethereum or Ripple as payment hehehe.
Most likely scenario is that a payment processor will be used for the conversion, so there isn't much for the seller(s) to lose here when it comes to depth or volatility. It has been done like this for quite a long period of time now.Overall, if you have something for sale, and you just want to get fiat, you'll accept any crypto currency that your payment processor accepts. Can't blame people for trying to reach as many rich crypto fanboys at once.
February 25, 2019, 10:37:24 PM
I don’t think this is such a big deal, but it’s cool to see how there are some already very open to the use of crypto even while there are limited merchant vendors in the Philippines where you can use and purchase crypto.
If there are clear regulatory standards about crypto, and the government accepts it as a form of payment, maybe there will be more and more people who will use crypto to buy & sell something. But the nature of crypto is not suitable for daily expense imo. Still, it's cool if we can use Bitcoin with lightning to be able to buy something from a supermarket.
Only 3... and sellers on the top of that. Nothing to be excited about. Sure it's better than nothing but it's not like if suddenly there is a wave of people looking to buy a house and paid it exclusively with Bitcoin. To develop the ecosystem we need to start somewhere you can say, and you're right. But only 3 and it hits the news 
3 is better than none someone said. But yeah, I personally don't think this is groundbreaking or something like that. The nature of properties payment is also unfit to be paid with crypto imo. Maybe the sellers will directly convert it to fiat if there's someone who buy using crypto.
February 25, 2019, 09:57:05 PM
@cryptosteem. Tell the writer of your article to specify what coins are being accepted by the house sellers. I reckon we should warn them to not accept Ethereum or Ripple as payment hehehe.
In any case, this might also be another clickbait article.
In any case, this might also be another clickbait article.
February 25, 2019, 06:35:49 PM
This is rather a PR move by him. If he really wants cryptocurrency he can sell it for fiat and then buy crypto. The result will be the same because there are no fes when you buy cryptocurrency OTC and very little fees when you buy on exchange.
Also selling for fiat would be much easier because not many people own crypto compared to those who own fiat.
Also selling for fiat would be much easier because not many people own crypto compared to those who own fiat.
This is likely to be true, but with the unregulated nature of crypto in the Philippines, its especially a place where some fiat-related headaches can be avoided. I know a lot of business in the PI will only take cash: car dealerships, for instance. So if you can pay for something in crypto it would save you a lot of trips to the ATM (only 10,000 PHP, or ~$200 can be withdrawn at a time, and holding huge amounts of cash also makes you a target).
I don’t think it’s a PR move. The owner probably just wanted to add an option for buyers. Maybe he just wants his property to be sold immediately, and he knows that those who can afford it probably might own crypto. I don’t think this is such a big deal, but it’s cool to see how there are some already very open to the use of crypto even while there are limited merchant vendors in the Philippines where you can use and purchase crypto.
February 25, 2019, 02:55:07 PM
Only 3... and sellers on the top of that. Nothing to be excited about. Sure it's better than nothing but it's not like if suddenly there is a wave of people looking to buy a house and paid it exclusively with Bitcoin. To develop the ecosystem we need to start somewhere you can say, and you're right. But only 3 and it hits the news
February 25, 2019, 02:34:32 PM
“We are big proponents of cryptocurrencies and think we should start expanding the conversation towards seeing it as a viable payment option for purchases. ..."
I personally don't trust such statements, especially when they come from real estate salesmen. Those people will do anything for profits and they will never risk losing a dime for an idea. It is very likely that the price in BTC/LTC is going to be high enough so that if they exchange the crypto for fiat right away they'll get an amount bigger than what they'd get if selling for fiat.
This article would be more valuable if it contained the prices for similar properties in the same region and the prices of the properties in crypto that Jonha Richman is asking for them.
February 25, 2019, 01:58:28 PM
A crypto accepting owner would be an ideal situation for many. No worries about having to sell, getting frozen on exchanges, having your bank freak out when the fiat arrives. You'd have to set aside some for tax depending on where you are but at least the vital transaction goes through without a hitch.
February 25, 2019, 11:31:32 AM
These guys are smart, no point in asking for cash which won't have any increasing value in the bank. Get some bitcoin and watch it pump 10x per year
February 25, 2019, 05:18:47 AM
This news seems very interesting and promising for the future of the blockchain and cryptocurrency industry.
It puzzles me how the local real estate authorities will react to this selling, and how this transaction will be recorded in the systems. Will this transaction trigger a bureaucratic domino? I am not aware of the legislation in the Philippines this is why I am asking.
It puzzles me how the local real estate authorities will react to this selling, and how this transaction will be recorded in the systems. Will this transaction trigger a bureaucratic domino? I am not aware of the legislation in the Philippines this is why I am asking.
February 25, 2019, 02:13:54 AM
3 Properties, are being sold for cryptocurrencies in the Philippines
The homeowner of not just 1, but 3 houses in the Philippines, is looking to sell them in exchange of cryptocurrencies.
On three separate Facebook posts, Dr. Joel Advincula, licensed broker and realtor at RE/MAX Advantage Iloilo, has recently shared 3 properties being sold in Iloilo City, Philippines.
One of the owners of the said properties, investor Jonha Richman, is open to either cash buyers or “cryptocurrencies” – also known as ‘digital money’ as form of payments.
Full article on https://www.cryptosteem.com/properties-sold-for-cryptocurrencies/
The homeowner of not just 1, but 3 houses in the Philippines, is looking to sell them in exchange of cryptocurrencies.
On three separate Facebook posts, Dr. Joel Advincula, licensed broker and realtor at RE/MAX Advantage Iloilo, has recently shared 3 properties being sold in Iloilo City, Philippines.
One of the owners of the said properties, investor Jonha Richman, is open to either cash buyers or “cryptocurrencies” – also known as ‘digital money’ as form of payments.
Full article on https://www.cryptosteem.com/properties-sold-for-cryptocurrencies/
Wow,that's great.3 purchases out of probably 1 million property purchases in the Phillipines is a great start.
Now I'm waiting to see when the governement of the Phillipines is going to ban crypto real estate purchases,due to the tax paying frauds.
February 24, 2019, 05:28:09 PM
At this existing bitcoin price, the owner is highly knowledgeable about cryptocurrency. The value would be triple in just a year if the said house be sold at the current rate. That's a good move and certainly, give me an idea in the future dealings out of this kind.
The Philippines is always one of the top destinations in Asia on crypto spending. No tax, no regulations but with high business appreciation.
I'm gonna sell my house now so I can buy 3 more in December when bitcoin increased.
The Philippines is always one of the top destinations in Asia on crypto spending. No tax, no regulations but with high business appreciation.
I'm gonna sell my house now so I can buy 3 more in December when bitcoin increased.
This is rather a PR move by him. If he really wants cryptocurrency he can sell it for fiat and then buy crypto. The result will be the same because there are no fes when you buy cryptocurrency OTC and very little fees when you buy on exchange.
Also selling for fiat would be much easier because not many people own crypto compared to those who own fiat.
February 24, 2019, 03:01:18 PM
At this existing bitcoin price, the owner is highly knowledgeable about cryptocurrency. The value would be triple in just a year if the said house be sold at the current rate. That's a good move and certainly, give me an idea in the future dealings out of this kind.
The Philippines is always one of the top destinations in Asia on crypto spending. No tax, no regulations but with high business appreciation.
I'm gonna sell my house now so I can buy 3 more in December when bitcoin increased.
The Philippines is always one of the top destinations in Asia on crypto spending. No tax, no regulations but with high business appreciation.
I'm gonna sell my house now so I can buy 3 more in December when bitcoin increased.
February 24, 2019, 02:27:05 PM
That's true that Philippines is one of the firm adopters of crypto/blockchain tech, besides there are still a lot of people viewed bitcoin as a scam which I really don't get while the central bank acknowledged this technology. Little by little, crypto companies starting to build businesses on the Philippines while the government is kinda crypto-friendly.
I will be amazed if some of my countrymen will really buy this house/s using crypto/bitcoin.
I will be amazed if some of my countrymen will really buy this house/s using crypto/bitcoin.
February 24, 2019, 06:56:11 AM
3 Properties, are being sold for cryptocurrencies in the Philippines
The homeowner of not just 1, but 3 houses in the Philippines, is looking to sell them in exchange of cryptocurrencies.
On three separate Facebook posts, Dr. Joel Advincula, licensed broker and realtor at RE/MAX Advantage Iloilo, has recently shared 3 properties being sold in Iloilo City, Philippines.
One of the owners of the said properties, investor Jonha Richman, is open to either cash buyers or “cryptocurrencies” – also known as ‘digital money’ as form of payments.
Full article on https://www.cryptosteem.com/properties-sold-for-cryptocurrencies/
The homeowner of not just 1, but 3 houses in the Philippines, is looking to sell them in exchange of cryptocurrencies.
On three separate Facebook posts, Dr. Joel Advincula, licensed broker and realtor at RE/MAX Advantage Iloilo, has recently shared 3 properties being sold in Iloilo City, Philippines.
One of the owners of the said properties, investor Jonha Richman, is open to either cash buyers or “cryptocurrencies” – also known as ‘digital money’ as form of payments.
Full article on https://www.cryptosteem.com/properties-sold-for-cryptocurrencies/
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