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Author Topic: [2017-01-27] Man buys house with Bitcoin, lucks into a $1.3M profit  (Read 310 times)
Karartma1
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January 28, 2017, 08:58:03 AM
 #1

Lucky guy  Grin

While Bitcoin has starred in a series of horror stories about wasted retirement funds and lost fortunes due to its notorious unpredictability, one man from California lucked out big time on his recent house purchase – and all thanks to the popular cryptocurrency.
Speaking to Bloomberg Markets, Bitpay CCO Sonny Singh told an intriguing story how Bitcoin’s volatility accidentally helped the buyer in question take home a profit of approximately $1.3 million during the exchange from the cryptocurrency to American dollars.

Read the end of story -> https://thenextweb.com/money/2017/01/27/bitcoin-buyer-house-profit/

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darkangel11
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January 28, 2017, 04:12:30 PM
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"While the cryptocurrency was worth a mere $750 when the transaction was originally initiated, by the end of the transfer Bitcoin had surged up to over $1000, earning him a profit of more than a million dollars."

Had he invested those millions and simply kept it stashed in his wallet, his profits would've been the same. This is shown as a big deal, like bitcoin real estate market was to become something big while in fact large holders have much more than $4m in bitcoin. Just think how much they made on that surge.

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January 28, 2017, 07:01:01 PM
 #3

Really he's a lucky guy...

Had a profit of 25%. something like a profit of more than a million dollars.

After the dump there were a lot of people that stayed in the loss. He must thank because this time he was lucky


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January 28, 2017, 08:39:47 PM
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This isn't really what I am typing below, but it sounds like it could be.


Another early adopter story!  There are lots of those still in the "windshield", and in the future more stories will surface.  I love when these stories surface!  There are several here that jumped in at a few thousand dollars back in the 2010 era.  If they held them, you might see their stories tomorrow or someday!

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tiggytomb
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January 28, 2017, 08:56:53 PM
 #5

As much as this is great for the individual, I think this is one of the sticking points for bitcoin, the fact that the price is so volatile makes it hard to adopt into mainstrean assets such as this.

Although at that time it was a crazy period, I think there is some serious work to be done if we ever want to get beyond buying an espresso in Starbucks.


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angaper
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January 28, 2017, 09:09:46 PM
 #6

Really he's a lucky guy...

Had a profit of 25%. something like a profit of more than a million dollars.

After the dump there were a lot of people that stayed in the loss. He must thank because this time he was lucky



Lucky.. but not really so much because if he was able to earn so much in that transaction is because at least he already had about five million dollars in his pocket.

When you have so much money it is not so difficult to invest in things that can generate such profits for you. He would have been truly fortunate if he had been able to turn a small investment of a few thousands into a million, but that was not the case.

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January 30, 2017, 02:15:29 AM
 #7

The truth about this transaction: https://bitcointalk.org/index.php?topic=1767039.0

<my 16666th post>  Tongue Tongue Tongue

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