And you can't have a home purchased via bitcoins without some mortgage-based rag making mention of it, but first about the periodical in question:
http://nationalmortgageprofessional.com/about-usNational Mortgage Professional Magazine has become "The Source for Top Originators" - that connects the mortgage professional community under various media formats. Our exceptional team of industry-seasoned monthly contributors combined with our knowledgeable editorial staff, all with meaningful expertise in their respectful disciplines, provide the most up-to-date news, insight and advice for today's mortgage professional. We are committed to ensuring that today’s industry is equipped with the most comprehensive understanding of mortgage news available through our many resources, including, but not limited to, articles in the print edition of National Mortgage Professional Magazine and 38 state-specific e-editions, the NMP Daily and NMP Ticker email newsletters, the exclusive daily news stories and postings on NationalMortgageProfessional.com, and our regular series of original Webinars, along with a number of additional resources in the works.
Now onto the BULLSHIT they're feeding their user base, NMP citing a venerable trade rag in the cryptocurrency space - CoinTelegraph:
http://nationalmortgageprofessional.com/news/61947/homebuyer-makes-profit-using-bitcoinAccording to a report in The Coin Telegraph, an individual seeking to purchase a $4 million residence in California contacted BitPay, an Atlanta-based Bitcoin payment service, to coordinate the transaction entirely in Bitcoin. The buyer secured $4 million in Bitcoin at a time when the digital currency was worth approximately $750 on the global Bitcoin exchange market.
But at the time the buyer initiated the final payment, Bitcoin’s value skyrocketed to $1,160—an increase that was fueled, in large part, by the devaluation of the Chinese yuan and the December rate hike by the Federal Reserve [prior to the markets correcting themselves, one first, then a second, ... mostly due to structural failure because the fire was just too intense]. Thus, the buyer—who was not publicly identified—wound up with a $1.3 million profit in the currency exchange rate.
“The buyer actually ended up making about 25 percent in the currency exchange rate, essentially, in the appreciation,” said Sonny Singh, chief commercial officer at BitPay. “He got a house for pretty much 25 percent cheaper.” To recap:
Sonny Singh clearly states on a broadcast that a real estate developer initiated the conversation with Bitpay.
The story was first picked up by Bitcoin Magazine.
A couple other rags followed suit, basically rehashing the same story.
Some rags have the seller making the profit, not the buyer, in spite of there not being any profit.
CoinTelegraph then published the same account adding their facts to the article.
A real estate trade rag opted to quote CoinTelegraph because they are <see the content gleaned from their About page above>.
Meanwhile, this thread tries to present the truth of the matter, yet crickets from any rag.
And we wonder why crypto is having a hard time gaining cred in spite of some homeless dude finding a laptop loaded with 30,000 bitcoins whose name has never been indexed by Google et al. prior to the find - Carl Pattersfield. I guess that goes hand-in-hand with this space having a Bitcoin Jesus; a Christian dude vouching for BFL on April Fools Day; a lead dev vouching for Craig Steven Wright as being Satoshi Nakamoto; a Chinese relic collector who hacks an exchange but returns the bitcoins, later put on another exchange in Japan that goes belly-up thanks to a dude who left France to avoid prosecution but was vetted to run Mt Gox under the auspices of an entity named after his cat across the street from Bitcoin Jesus who once went on the air ...; a stolen valor dude who just so happened to work across the street from a Section 8 housing project where the office of his future boss was located, later it - BFL - fucking over thousands of its users while said employee was later able to purchase a half-million-dollar home via bitcoins on a $50K-a-year salary; need I continue?
