Buying houses with BTC - page 2. | Bitcointalksearch.org

tech30338

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Quote from: roller33 on January 22, 2024, 04:05:50 PM

I have recently watched a video where the guy says that it is safer to buy a house with BTC (and other cryptocurrencies) than buying through one real estate agent. If I remember correctly, he says that it can be proven through a NFT.

That sounds cool, but what about all the regulations and laws of the government? I mean, won't they charge their share? Won't it be possible to get a fine for using crypto instead of FIAT?

I know there are already countries that are "crypto-friendly", but it seems to be interesting to prove your house purchase through an NFT.

I have not seen any house being sold for btc, but before not exact year when Tesla is accepting bitcoin before, there will be lot of things that is needed if there is a company offering bitcoin as payment since its still question in the congress for bitcoin, here in my country there is no company offering bitcoin payments, maybe because of the price being volatile, I have seen offering nft with a real-life house but seems those are just on papers, the only thing that I have seen is panini a NBA collecting cards offering 1 physical copy and a blockchain copy.

Getmon

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That is not going to happen easily bud because there are just two nations that permit Bitcoin as a cash. In addition, Bitcoin is still not used as commonly as other forms of currency in those nations. Therefore, if an individual bought a house with Bitcoin, it probably happened peer to peer rather than a normal transaction. The ownership of the house can be transferred without a problem because the buyer and the seller can simply let a law firm know that the arrangement was made and they just need the papers legalized.

Purchasing from a real estate company using Bitcoin is not possible at present.

rodskee

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Quote from: roller33 on January 22, 2024, 04:05:50 PM

I have recently watched a video where the guy says that it is safer to buy a house with BTC (and other cryptocurrencies) than buying through one real estate agent. If I remember correctly, he says that it can be proven through a NFT.

That sounds cool, but what about all the regulations and laws of the government? I mean, won't they charge their share? Won't it be possible to get a fine for using crypto instead of FIAT?

I know there are already countries that are "crypto-friendly", but it seems to be interesting to prove your house purchase through an NFT.

This is how lucky our country is as there are no regulations about crypto and we can deal
as long as the sellers/agent agreed with the terms and about taxes maybe it can be organized by both
depending on how the terms will go but buying is nothing to be the problem.

But the thing is that there are no agent (that I know) who are selling house and lot using
bitcoin so Not sure if I will get one deal .

though Still its practical here to use Cash still for me , because Bitcoin price will increase over
the years and the money will remain or may get lower in its value.

kro55

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Quote from: hatshepsut93 on January 22, 2024, 05:49:52 PM

It's laughable to say that Bitcoin payment is safer than going through a real estate agent when nearly everyone does that and has no problems with them.

When I say this, I guess many bitcoin enthusiasts will hate me, but I find it very funny that many people say that paying with bitcoin is safer, cheaper and faster than other traditional payment methods like fiat or banks. It's not just real estate, what I'm talking about is paying the daily bills.
Everyone are exaggerating about bitcoin unnecessarily and senselessly. I wonder, does our exaggeration of bitcoin and badmouthing of other assets make bitcoin better? And is that what a bitcoin investor should do?

YUriy1991

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Look at the rules of the game set in your area. If you buy a house with some BTC and it is allowed by law where you live, I think that is very good. if not sell your BTC then buy your house using fiat. So that might be a solution and doesn't conflict with the regulations that have been set where you are and for NFTs I don't understand because the process is very complicated.

Luzin

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Quote from: Wexnident on January 22, 2024, 06:25:46 PM

As for buying houses with Bitcoin, I'd say it varies from country to country. It should technically be allowed but you'd have to find the laws related to that and whatnot.

At the moment all I know is that El Salvador legalized Bitcoin as a means of payment. No other country has the same regulations as El Salvador. Many other countries are used only as commodity assets. In my country crypto is also as an asset, when I want to use it to buy a house then I have to exchange it with Fiat. But under certain conditions people who understand Bitcoin can agree to exchange each other. But this will not happen if one does not want. So the best transaction tool today is money which is recognized by the whole world.

Rruchi man

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Quote from: roller33 on January 22, 2024, 04:05:50 PM

I have recently watched a video where the guy says that it is safer to buy a house with BTC (and other cryptocurrencies) than buying through one real estate agent.

I would have loved to watch this video so I can understand what this person means by safer and in what context he categorized it?

Quote from: roller33 on January 22, 2024, 04:05:50 PM

That sounds cool, but what about all the regulations and laws of the government? I mean, won't they charge their share? Won't it be possible to get a fine for using crypto instead of FIAT?

Two crypto friendly parties involved in this business can choose to accept crypto for payment against the government and also without their knowledge, and settle any related government charges in fiat.

The proof of real ownership are the property documents that will be transferred to the new owner after a deal has been complete and an agreement met between buyer and seller. Anyone who possesses these documents in their name is the owner of the property recognized by the government.

hd49728

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Quote from: roller33 on January 22, 2024, 04:05:50 PM

I have recently watched a video where the guy says that it is safer to buy a house with BTC (and other cryptocurrencies) than buying through one real estate agent.

You must make the trade with Escrow because I am sure a trade to buy a house is a big one. Without Escrow, you will take very high risk and potentially might lose your BTC but in return no house in your ownership.

Use Escrow.

Because value of the trade is big, make sure you wait for some confirmations like 6 or 10 confirmations before consider that on-chain transaction is 'completed' and safe enough to complete the house trade.

How many bitcoin confirmations is enough?

Quote

1 confirmation: sufficient for small payments less than $1,000.

3 confirmations: for payments $1,000 - $10,000. Most exchanges require 3 confirmations for deposits.

6 confirmations: good for large payments between $10,000 - $1,000,000. Six is standard for most transactions to be considered secure.

10 confirmations: suggested for large payments greater than $1,000,000.

Use this tool to calculate risk from 51% attacks with different hashrate and number of confirmations.
https://jlopp.github.io/bitcoin-confirmation-risk-calculator

Text

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Quote from: roller33 on January 22, 2024, 04:05:50 PM

-snip
That sounds cool, but what about all the regulations and laws of the government? I mean, won't they charge their share? Won't it be possible to get a fine for using crypto instead of FIAT?

I know there are already countries that are "crypto-friendly", but it seems to be interesting to prove your house purchase through an NFT.

Governments generally want their share, and taxes on property transactions are a common source of revenue, just because technology allows it doesn't mean it's legal or tax-free everywhere. It’s better to ensure that the NFT you're using for proof of ownership aligns with local laws, governments are still catching up to crypto.

Assface16678

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Quote from: hatshepsut93 on January 22, 2024, 05:49:52 PM

Quote from: roller33 on January 22, 2024, 04:05:50 PM

If I remember correctly, he says that it can be proven through a NFT.

Crypto bros are delusional or just grifters. There's a high chance that a court will not view NFT as a proof of rights, or proof of a Bitcoin transaction as a valid payment. So one can easily get scammed by paying with BTC and not getting any rights to the real estate that they "bought".

It's laughable to say that Bitcoin payment is safer than going through a real estate agent when nearly everyone does that and has no problems with them.

Exactly, the ones who said are too delusional. Yes, we like crypto currency; that's why we are here, but not all will be fit for crypto currency or the usage of crypto currency. Who would want to purchase a house through NFT? There are many legal requirements before a person could bring a house. Do you think even if you are using a crypto currency channel, the government will not detect you? No, and also, who's insane person would have rights to the house with using NFT? that's right what if it is a scam? then all your hard-earned assets will be gone.

I understand how powerful and usable crypto currency is, but in these days, not all things are compatible with crypto, and not all transactions should be done in crypto. Buying a property is a serious matter, and if you don't go through legal circumstances, you might have a problem in the future.

Wexnident

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...NFT? No way in hell that's legal. And I'd question the sanity of whoever makes it legal (at this point if they ever do really.) Even Bitcoin transaction as proof of payment wouldn't work since there are a lot of legality afaik that are involved when transferring properties to another name, which is not at an equal level in terms of authority compared to a Bitcoin transaction. Maybe if it was under legal authority but at that point you might as well do the proper procedures instead of just saying the transaction as your proof lol.

As for buying houses with Bitcoin, I'd say it varies from country to country. It should technically be allowed but you'd have to find the laws related to that and whatnot.

hatshepsut93

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Quote from: roller33 on January 22, 2024, 04:05:50 PM

If I remember correctly, he says that it can be proven through a NFT.

Crypto bros are delusional or just grifters. There's a high chance that a court will not view NFT as a proof of rights, or proof of a Bitcoin transaction as a valid payment. So one can easily get scammed by paying with BTC and not getting any rights to the real estate that they "bought".

It's laughable to say that Bitcoin payment is safer than going through a real estate agent when nearly everyone does that and has no problems with them.

Churchillvv

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Buying a house with Bitcoin is not a bad ideal but the area of proving it with an NFT is want I don't really know about.

for getting a house with Bitcoin its only advised to buy any property with Bitcoin under a contract and it's should be carried out in front of a notary for all legalities and in filling out all required forms it should be recorded that the property was acquired with fiat or Bitcoin (any other cryptocurrencies).

It should be carried out under the laws that regulates that particular location.

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Quote from: roller33 on January 22, 2024, 04:05:50 PM

I have recently watched a video where the guy says that it is safer to buy a house with BTC (and other cryptocurrencies) than buying through one real estate agent. If I remember correctly, he says that it can be proven through a NFT.

I know there are already countries that are "crypto-friendly", but it seems to be interesting to prove your house purchase through an NFT.

It's a gimmick lol. I don't think there is a country out there that legally recognizes NFTs as a proof you own a property. What matters are legal documents such as house title/property deed.

Quote from: roller33 on January 22, 2024, 04:05:50 PM

That sounds cool, but what about all the regulations and laws of the government? I mean, won't they charge their share? Won't it be possible to get a fine for using crypto instead of FIAT?

Well... laws differs per country. You may wanna read Buying a house with 100% Bitcoin is possible in Portugal for instance.

highalch

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Quote

I have recently watched a video where the guy says that it is safer to buy a house with BTC (and other cryptocurrencies) than buying through one real estate agent. If I remember correctly, he says that it can be proven through a NFT.

Unfortunately either you (or the video maker) confuse the terms here. NFTs have nothing to do with regular bitcoin transactions. It's possible to buy a house and make the transaction on blockchain, then receive the house as a newly minted NFT on Ethereum for example, but it makes no sense from legal standpoint, as noone in the world recognizes NFTs as something that institutes property rights.

lombok

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Of course, if it is related to existing laws, if in that country it prohibits Bitcoin or cryptocurrency as a means of payment or prohibits the use of Bitcoin/cryptocurrency as a substitute for Fiat in completing a transaction, it clearly violates legal regulations, the transaction can be said to be illegal and capable of causing problems. greater for both parties. Of course, if there is fraud from one of the government or the police, it will also be very difficult or impossible to intervene in this matter.

However, if in a country that accepts Crypto payments or transactions, it is supported by a clear direction. What the OP said could be a new breakthrough for the world of real estate.

GeorgeJohn

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Probably when you have whatever that you want to sell you can place your option of buyer, it might be through a Fiat, cryptocurrency especially Bitcoin because in this present time many people do embrace Bitcoin and the normally fix their option of whatever thing they want to sell to Bitcoin, so therefore 1 bitcoin can get you a house if the person wanted in Bitcoin even though you convert it in usdt it will still give you the same value according to the country's rate of their currency so that is why in some countries one BTC cannot afford to get ours depending the position or the location of the environment why in some other countries one BTC will get you a huge house even get you a car depending the environment or the location of the building so in summary it depends the location and the country based on on their currency denomination

Tuclikk

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Quote from: roller33 on January 22, 2024, 04:05:50 PM

but what about all the regulations and laws of the government? I mean, won't they charge their share? Won't it be possible to get a fine for using crypto instead of FIAT?

It an idea for the marketers who are ready to receive their payment of house in crypto currency for example like BTC. But with the approval of the federal government in marketing exchange like crypto currency, in buying or selling, by legalising the currency in every aspect of exchange it will be helpful.
Making each and every transaction of crypto currency to any other wallet there must be a charges for it, and even you had even sell it the payer transact the amount into your Banking account, while transferring the money to the agent there will be another comission that they will charge .
Which means making payment with crypto will surely make things easier for us.
As of now my country had been on the way to make crypto currency payment possible on everything you can afford.

roller33

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I have recently watched a video where the guy says that it is safer to buy a house with BTC (and other cryptocurrencies) than buying through one real estate agent. If I remember correctly, he says that it can be proven through a NFT.

That sounds cool, but what about all the regulations and laws of the government? I mean, won't they charge their share? Won't it be possible to get a fine for using crypto instead of FIAT?

I know there are already countries that are "crypto-friendly", but it seems to be interesting to prove your house purchase through an NFT.

Topic: Buying houses with BTC - page 2. (Read 334 times)