Good news for bitcoin for sure ! and great to see more adoption too.
Im not sure what exactly the Co-living thing is, if anyone wants to read about "the collective"
that is mentioned in the article here is their site> https://www.thecollective.co.uk/our-story
I am reading through their story get a better handle on it.
They might be accepting Bitcoin but more interestingly, is anyone spending with them?
Topic: Suddenly, Bitcoin Breaks into UK Housing Market as Down Payment - page 2. (Read 699 times)
September 05, 2017, 11:22:43 AM
September 05, 2017, 11:22:31 AM
I'd be very worried that I would not get that deposit back after I'd finished the tenancy, especially if during that time Bitcoins' value has risen significantly.
Landlords always seem to find a few issues to prevent you from getting your deposit back, not evryone ofc, but it has happened to me before.
I'd only do it if escrow was available, afaik some landlords do work with escrow for deposits.
Landlords always seem to find a few issues to prevent you from getting your deposit back, not evryone ofc, but it has happened to me before.
I'd only do it if escrow was available, afaik some landlords do work with escrow for deposits.
The thing is - if you can prove that the address you sent your coins to belongs to the landlord, then the blockchain is a rock solid evidence that you sent the coins.
September 05, 2017, 11:13:36 AM
let hope this trend picks up for other goods and services 
September 05, 2017, 11:05:54 AM
I'd be very worried that I would not get that deposit back after I'd finished the tenancy, especially if during that time Bitcoins' value has risen significantly.
Landlords always seem to find a few issues to prevent you from getting your deposit back, not evryone ofc, but it has happened to me before.
I'd only do it if escrow was available, afaik some landlords do work with escrow for deposits.
Landlords always seem to find a few issues to prevent you from getting your deposit back, not evryone ofc, but it has happened to me before.
I'd only do it if escrow was available, afaik some landlords do work with escrow for deposits.
I agree, the landlords will likely say at the end that, "I will return to you the value of your bitcoins at the time you deposited them to me" which means the landlords are going to return only the equivalent bitcoins at the time it will be returned. What if it raised by 10 times, and the tenant will only get 10% that means.
September 05, 2017, 10:36:32 AM
I'd be very worried that I would not get that deposit back after I'd finished the tenancy, especially if during that time Bitcoins' value has risen significantly.
Landlords always seem to find a few issues to prevent you from getting your deposit back, not evryone ofc, but it has happened to me before.
I'd only do it if escrow was available, afaik some landlords do work with escrow for deposits.
Landlords always seem to find a few issues to prevent you from getting your deposit back, not evryone ofc, but it has happened to me before.
I'd only do it if escrow was available, afaik some landlords do work with escrow for deposits.
September 05, 2017, 10:20:49 AM
It's actually really cool bitcoin finally made it into real estate. Hopefully in the future I won't have to withdraw my bitcoin for dollars and I can just buy my house and lambo with bitcoin.
September 05, 2017, 10:11:00 AM
pretty interesting because not so long ago I have actually seen a couple of different topics by different people talking about buying a house with bitcoin. there was actually one person who was thinking about putting up an ad even to find someone who accepts bitcoin for a house.
I still think it is too soon for bitcoin to be used for things this big. because if you buy something worth $100 for example and price fluctuates 20% you won't feel a thing and it won't matter but if you buy something worth $50,000 and price fluctuates 20% you will feel the change! it is $10,000 change.
I still think it is too soon for bitcoin to be used for things this big. because if you buy something worth $100 for example and price fluctuates 20% you won't feel a thing and it won't matter but if you buy something worth $50,000 and price fluctuates 20% you will feel the change! it is $10,000 change.
It's down to the buyer to make their peace with fluctuations. I assume most future sales will be going through somewhere like Bitpay to entice the seller. If the house is 20% cheaper in BTC one month into the future then tough titty.
I seem to remember somewhere fancy in Miami selling for 3000 BTC near the start of the year. Now that would be 800 or so.
I dunno how capital gains would work though. I assume you'd have to cash out a certain amount to pay it.
September 05, 2017, 10:07:42 AM
pretty interesting because not so long ago I have actually seen a couple of different topics by different people talking about buying a house with bitcoin. there was actually one person who was thinking about putting up an ad even to find someone who accepts bitcoin for a house.
I still think it is too soon for bitcoin to be used for things this big. because if you buy something worth $100 for example and price fluctuates 20% you won't feel a thing and it won't matter but if you buy something worth $50,000 and price fluctuates 20% you will feel the change! it is $10,000 change.
I still think it is too soon for bitcoin to be used for things this big. because if you buy something worth $100 for example and price fluctuates 20% you won't feel a thing and it won't matter but if you buy something worth $50,000 and price fluctuates 20% you will feel the change! it is $10,000 change.
September 05, 2017, 09:59:37 AM
It's about time it made some inroads into property, though buying property is by far the more interesting use. I'm sure there are lots of people who'd like to do that. As far as I know a Bitcoin sale in the UK hasn't happened yet though a few have been thrown up for sale.
The idea of co-living sends shudders down my spine but good luck to them anyway.
The idea of co-living sends shudders down my spine but good luck to them anyway.
September 05, 2017, 09:51:53 AM
https://cointelegraph.com/news/suddenly-bitcoin-breaks-into-uk-housing-market-as-down-payment
Quote
It is a first for the UK that Bitcoin can now be used as a down payment in the property market. Co-living pioneer The Collective have announced that they will be accepting the digital currency as a deposit from prospective tenants.
They are also eyeing out rental payments in Bitcoin, but that will only be implemented later in the year.
It is the first time a UK property developer has opened its doors on the famous digital currency, stating that the demand actually came mostly from international customers.
The Old Oak
The Collective's online booking form for its Old Oak living scheme, an ambitious co-living development with 550 rooms, will be accepting Bitcoin as a deposit on the flats.
The standard deposit is £500, which equates to about 0.148 at time of publishing. Additionally, with the volatile nature of Bitcoin seemingly holding back its ability to be utilized as a currency, The Collective has pledged “spot conversion,” which means it will bear any financial risk while holding the deposit, returning it at the original value when the tenancy finishes.
They are also eyeing out rental payments in Bitcoin, but that will only be implemented later in the year.
It is the first time a UK property developer has opened its doors on the famous digital currency, stating that the demand actually came mostly from international customers.
The Old Oak
The Collective's online booking form for its Old Oak living scheme, an ambitious co-living development with 550 rooms, will be accepting Bitcoin as a deposit on the flats.
The standard deposit is £500, which equates to about 0.148 at time of publishing. Additionally, with the volatile nature of Bitcoin seemingly holding back its ability to be utilized as a currency, The Collective has pledged “spot conversion,” which means it will bear any financial risk while holding the deposit, returning it at the original value when the tenancy finishes.
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