Register a SA Forums Account here!
JOINING THE SA FORUMS WILL REMOVE THIS BIG AD, THE ANNOYING UNDERLINED ADS, AND STUPID INTERSTITIAL ADS!!!

You can: log in, read the tech support FAQ, or request your lost password. This dumb message (and those ads) will appear on every screen until you register! Get rid of this crap by registering your own SA Forums Account and joining roughly 150,000 Goons, for the one-time price of $9.95! We charge money because it costs us money per month for bills, and since we don't believe in showing ads to our users, we try to make the money back through forum registrations.
 
  • Locked thread
Professor Shark
May 22, 2012

wait what is the take back payments feature??

Adbot
ADBOT LOVES YOU

Professor Shark
May 22, 2012

I heard Butterfly got owned by the courts

Professor Shark
May 22, 2012

Cross Postin' from the Canadian Finance Thread:

quote:

Philadelphia’s first condominiums available for purchase in bitcoin will have their first open house today in the city’s historic Manayunk district. Susanna Kunkel, a veteran Philadelphia realtor, arranged the bitcoin offering as a way to entice tech-savvy, entrepreneurial-oriented buyers who are an important customer for modern urban condominiums.

The four condos from Falcon Condominiums range in size from 2,024 to 2,293 square feet of interior space. The initial asking price for each is 795 bitcoin.

Manayunk, a National Historic District, is a commercial neighborhood teaming with renovated Victorian storefronts located 15 minutes from Center City Philadelphia, King of Prussia, Chestnut Hill, and The Main Line.

Charting New Waters

“I’m really charting new water here,” Kunkel told CCN. “I just don’t think that (bitcoin) has been offered to our technology community as an option. Philadelphia has a growing presence of creative startup companies. As a realtor, I need to be in touch with our different communities and the trends.”

The condos, newly-constructed on the site of a former Polish social hall, has been on the market for one year. Kunkel recently came up with the idea of offering the four units for sale in bitcoin and suggested it to the property’s owners, who welcomed the idea.

The units are well suited to bitcoin-oriented buyers, Kunkel said. The condos have a flexible floor plan that can be used for work and as a meeting space that can accommodate 10 to 15 people. Kunkel envisions an entrepreneur who wants to work out of their home.

She said there have been private condo sales paid in bitcoin in Philadelphia, but this is the first publicly-listed offering. “It is the first mainstream, full-service offering in bitcoin,” she said.

Kunkel has promoted the offering on her blog and through social media. Phillymag.com, Philadelphia Magazine’s website, ran an article about it on Thursday. Kunkel has since received inquiries but no offers as of this report.

BTC Tied To Dollar Price

The property’s listing by phillyliving.com and on the multiple listing service does not carry the bitcoin price, only the dollar price. The prices for the four units range from $365,000 to $395,000. If a buyer makes an offer in bitcoin, the bitcoin amount will be based on the bitcoin-to-dollar exchange rate at the time of the offer. The amount may need to be adjusted when the transaction closes based on any change in the exchange rate.

“The seller is not going to take on the risk of bitcoin (price) fluctuating,” Kunkel said.

To complete a title transfer where funds are held in escrow, the party holding funds in escrow must be willing to accept bitcoin. Kunkel’s blog directs prospective buyers to an explanation by the title company that will handle the settlement, World Wide Land Transfer.

During the change of title, the buyer’s money floats through escrow usually held by a title insurance company, except in states like New York where it is common for either the buyer’s attorney or a bank attorney to handle the escrow. Either way, this party moves the buyer’s money to the seller, the creditor who is being paid off if applicable, the government recorder of deeds, and the tax agencies if taxes are being paid. The bitcoin will only become available to the buyer if the title insurance provider or the attorney handling the escrow is willing to accept bitcoin to close the transaction.

Whether or not the realtors get paid their commissions in bitcoin would be for the realtors and the seller to decide.

Real Estate Embraces Bitcoin

The Philadelphia offering reflects the rising use of bitcoin for real estate transactions.

The World Wide Land Transfer website noted that a New York City-based brokerage, Bond New York, is already accepting bitcoin as payment for real estate transactions. Noah Freedman, co-founder of the brokerage, said bitcoin is a convenient and inexpensive way for customers to transfer money. He cited reduced or non-existent processing fees as a key bitcoin benefit.

Echoing these sentiments was Ragnar Lifthrasir, president of an organization called the International Bitcoin Real Estate Association, in a recent article in Opp.Today (Overseas Property Professional). Lifthrasir said the blockchain is positioned to improve options for real estate record keeping. He also said bitcoin can make real estate a liquid asset, eliminate fraud, reduce costs, hasten transactions, improve financial privacy, democratize investing, internationalize markets, and reemphasize equity.

The Philadelphia open houses are scheduled for Sunday, Jan. 17 and Jan. 31 from 1 p.m. to 3 p.m.

Professor Shark
May 22, 2012

Sammus posted:

Can I buy a house then take my bitcoins back and claim it's mine?

My favorite part was how the contract might would absolutely have to be modified at the time of signing because the price of Bitcoin might not be the same as when they started

Professor Shark
May 22, 2012

JazzFlight posted:

And people in the comments aren't even denying the problems, they're pathetically attacking him for "talking poo poo about his ex-employer."

Yeah from what I remember the Bitcoin community gets very upset if someone speaks negatively about a bad transaction or business. Despite professing to be Libertarians, they seem to hate everything about Libertarianism, like reputation and unrestricted information.

Professor Shark
May 22, 2012

Wait why didn't he just attempt to cash out the coins in the first place? Jesus Christ what a bad decision she made.

Professor Shark
May 22, 2012

So she isn't able to cash them out herself and she's going to be waiting at least 4 years before he starts making payments on his most likely interest free loan of $6k... that guy totally scammed her, Bitcoin style

Professor Shark
May 22, 2012

Yeah, if she's a doctor she can probably not worry about the $6k, but you're Ivan's right that $6k is just the start

Professor Shark
May 22, 2012

I liked the silver kid

Professor Shark
May 22, 2012

Man Bitcoins are like sort sort of cursed poo poo, everything they touch turns out bad

Professor Shark
May 22, 2012

happyhippy posted:

12. Our future Captain's of Industry misplacing a decimal point for the fee, and have just gave 9/10 of what they have to another person.

These were awesome when I was following the old GBS BC thread, it was like an everyday thing too so it felt like a regular "Dummy of the Day" thing and it was fun to read these smug idiots humbled by their own idiocy

Professor Shark
May 22, 2012

Remember when Bitcoiners all invested in an honest from the get go Ponzi? Like the OP said THIS IS A PONZI SCHEME! and people gave him money and told people calling them idiots that the business was fine as long as you knew when to get out?

Jesus those were good times

Professor Shark
May 22, 2012

Was it the first big Bitcoin crash that was caused by a goon posting "BITCOIN IS CRASHING: SELL SELL SELL" on their forum?

Professor Shark
May 22, 2012

SuperSpiff posted:

This is another thing that never actually happened, but we like to repeat anyway.

Hey man, it was repeated enough in the old thread that I thought it happened

Professor Shark
May 22, 2012

Moridin920 posted:

I'm glad I've taken business/finance/econ classes because I think this poo poo is hilarious but I think it's really hilarious when you have a decent understanding of how monetary systems are supposed to work.


we can work something out I'm sure :wink:

Hey Moridin, just so you know that someone is pulling for you, I contacted a few mods about your weirdo cyber-stalker and they agreed it's dumb as hell, that they're discussing what to do, and that there are plans to make it so that in the future mods won't be able to probate multiple times for a single post :thumbsup:



(USER WAS PUT ON PROBATION FOR THIS POST)

Professor Shark
May 22, 2012

theultimo posted:

My rule i live by is never gently caress with fyad.

Yeah that's a pretty good one to go by. I don't think I hosed with them in this case, though, since I was told they were already aware of it and discussing what to do, I just wanted to make Moridin feel a bit better. The snitch thing was just an excuse to make glitter text.

Professor Shark
May 22, 2012

I guess what I'm trying to say is Mods KNOW

Professor Shark
May 22, 2012


qnqnx posted:

ahahahahahahahahah bitch

Haha if it was anyone but me I'd be saying the same thing

Edit: Actually gently caress that

Professor Shark posted:

Hey Moridin, just so you know that someone is pulling for you, I contacted a few mods about your weirdo cyber-stalker and they agreed it's dumb as hell, that they're discussing what to do, and that there are plans to make it so that in the future mods won't be able to probate multiple times for a single post :thumbsup:



(USER WAS PUT ON PROBATION FOR THIS POST)

Shut the gently caress up bitch!

Professor Shark fucked around with this message at 11:33 on Jan 22, 2016

Professor Shark
May 22, 2012

I'm so confused as to why exactly people would take mystery chemicals instead of just drinking beer and loving :confused:

Professor Shark
May 22, 2012

If someone told me they take random chemicals for fun I would just assume they wanted to kill themselves and just didn't have the ability to admit it to themselves

Professor Shark
May 22, 2012

Can you imagine if actual corporations decided to get into BC? They would eat Bitcoiners alive.

Why on Earth Bitcoiners think that anyone with real power would be willing to allow a bunch of disconnected early adopters to be the Elite has never made sense to me.

Professor Shark
May 22, 2012

happyhippy posted:

*Butterfly Labs mines 400 Butts using your rig you bought from them for sixteen months*

Haha I remember buyers freaking out saying the BFL was mining using their machines and most people in the SA thread said that would be stupid, that BFL wasn't interested in mining they just wanted to sell the shovels

It DID turn out they were mining, right?

Professor Shark
May 22, 2012

cumshitter posted:

Not only that, but the miners joined the BFL pool by default so unless you changed it you were mining for BFL and subsidizing their electricity costs.

Wow what a weird mistake on BFL's part!

I don't think anyone has mentioned the idiot who tried to use his university campus to mine butts and got expelled

Professor Shark
May 22, 2012

Naxuz posted:

The collapse of the Soviet Union and the institution of shock therapy free market measures in Russia resulted in the deregulation of alcohol production, mafia taking a foothold in the market and an untold amount of people dying from contaminated bootleg vodka, and the occasional case of methanol poisoning happening ever so often to this day. The free market, it never fails.

I think it was in some thread on this site that I read it, but someone said that Free Market advocates happen when people have lived under Government protection for so long that they think it's the natural way of things and they don't understand it took lifetimes and lives to get things to where they are now.

Something like that, anyway. I agreed with it

Professor Shark
May 22, 2012

vxskud posted:

I'm curious

Does anybody involved in running bitcoin actually have any sort of background in economics or even accounting?

Yeah, lots of them have owned a bunch of e-companies, offered e-services, money lending services, and run pyramid schemes

Professor Shark
May 22, 2012

Yeah, like everything Bitcoin related, you can do anything better without Bitcoin

Professor Shark
May 22, 2012

Bitcoin is everything Bitcoiners deserve, it's Wallet Inspector level of scams but people lose "money" over and over

Professor Shark
May 22, 2012

Renfield posted:

He (Bruce) also had convictions for mortgage fraud, and was a male prostitute who was available for double bookings with hes partner ('Manny', I think)

Haha I didn't know about the prostitution

I remember his boyfriend actually seemed pretty cool, Bruce was an out of shape weirdo though

Professor Shark
May 22, 2012

Darth123123 posted:

Shutting down a hospital with babies and old people sick is really cool.


gently caress that guy. There are other corporations and businesses he could have targeted, instead he went after a hospital and risked lives, even if it was just by making patient information sharing much slower.

This should unironically come with the death penalty

Professor Shark
May 22, 2012

Yeah I got that, hence my impotent rage :mad:

Professor Shark
May 22, 2012

revmoo posted:

Hahaha god no it shouldn't.

Just imagine the death penalty version of "Swatting"

Huh wow really provocative stuff thanks for your post

Professor Shark
May 22, 2012

DEKH posted:

That is putting the cart before the horse. A conviction requires proving the crime beyond a reasonable doubt, beginning a murder investigation on the other hand just requires probable cause. The point here being that malicious hacker could implicate you in a crime, forcing you to deal with a felony investigation.

Yeah Bitcoin is pretty cool

Professor Shark
May 22, 2012

Like a lot of things Bitcoin related, you could do that without Bitcoin

Professor Shark
May 22, 2012

Anyway, just to clarify, I don't really think that the bad man should be put to death, I do think he should focus on other people, however

Professor Shark
May 22, 2012

WHOA :vince:

Professor Shark
May 22, 2012

Holy poo poo this guy is tearing this thread up with his posting

Adbot
ADBOT LOVES YOU

Professor Shark
May 22, 2012

Heh, goons itt proving that the only difference between them and Bitcoiners is that goons didn't have the money to buy in :smuggo:

  • Locked thread