Bitcoin Forum

For the first time in UK, a owner of a mansion have declared that he will accept Bitcoin payment for his mansion. Read the article below, and share your thoughts.
https://www.cryptocoinsnews.com/seller-of-17-million-u-k-mansion-will-only-accept-bitcoin/

Brilloant ;D

Good luck to him, hopefully he finds a way to avoid paying full fees on the sale, UK Stamp Duty etc of he accepts bitcoin for it.

This has happened elsewhere. It is not really surprising that it happened in the UK too. According to the article the seller is doing this specifically to promote Bitcoin. Good for him, but in reality I don't think there are any advantages to accepting GPB or Bitcoin as real estate transactions are complex so an extra step taken to convert the payment between one currency type to another is nothing.

Lol, London is not a good place to have a mansion, is not secure

That's only 3,000 to 4,000 bitcoins. Very cheap by Bitcoin Standards. But more expensive than the 6 million dollar villa which was sold 6 years ago.

I've heard of a house being sold for Bitcoin before. Still, this is great news. There might be a taker somewhere simply because they're accepting Bitcoin as payment. It's interesting how it works, because I imagine holders are less likely to spend their Bitcoin in small purchases compared to large ones.

For lawyers here though, wouldn't there be complications regarding the contract if Bitcoins were used? That's a huge amount of money and I would think some tax collection agency would have to get involved. Won't the source of Bitcoins be investigated?

Haha amazing! I hope he has a successful sell

to be honest this sounds more like a show (or an advertisement) rather than a serious offer to me. because 17m Euros is a bit too high for payment using bitcoin.

according to Kraken bitcoin is 4617 Euro right now and that is 3,682.04BTC. i don't really think someone with that much bitcoin is going to use it to buy a house.

there is also the issue with taxes and possibly even raising some red flags.

This is not happening first time, but it is a good news. If bought with BTC, than it will be marvellous for BTC, because it is a huge transaction happening,  and it will surely give more value to BTC, and their users. Maybe if this ends up being a buy in BTC, will open the doors to more real estate businesses accepting BTC.

Making a deal in the UK - a global financial platform - can
 to point out that London is inclined to recognize bitcoin, and recognition by London can lead to a chain reaction

Good to see more big purchases made with cryptocurrencies. The biggest problem mentioned in that article is going to be tracing the bitcoins to ensure it hasn't come from criminal sources. Won't be easy to trace that number of bitcoin!

I guess the fees are still paid even if he accepts bitcoin for payment. I'm quoting a line from the article that says:
"The sale will result in a £1.95 million stamp duty bill."


The seller says that Bitcoin transactions can be done more faster, more efficiently and more easily than banks, and banks bring overregulation according to him. So maybe that is also a reason why he has chosen Bitcoin for payment.


Quoting from the article:
"Quintel, a business intelligence firm, and James Ramsden QC, a lawyer and an asset tracing specialist, will work to determine the source of a prospective buyer’s funds."

Wow :o First Sweden now Uk. Last week i read some news about sold house which payment done with bitcoin in Sweden.After reading this news i know strongly believe that, world will be better place with improving payment alternatives like cryptocurrency.