Northern Ireland Property Developer To Accept Bitcoin As Payment Option

[etin06]

 
 
 

Hagan Homes, one of Northern Ireland’s biggest residential property developers, will now be accepting Bitcoin (BTC) as a payment method, the Belfast Telegraph reported Feb. 22.

Jamesy Hagan, the managing director of Hagan Homes, said there is both an increasing international interest in working, living, and investing in Northern Ireland, as well as a “significant growth in the use of Bitcoin worldwide:”

“Our acceptance of this new channel reflects our willingness to respond to the market.”

The Belfast Telegraph writes that Hagan Homes is reportedly the first house-building firm in the Republic of Ireland to accept BTC payments.

Hagan did recognize the challenges in accepting Bitcoin as payment. He noted the current volatility in the crypto markets, with BTC’s price going from $20,000 to $7000 in the span of just a few months:

“Of course, there are some risks to using Bitcoin for payment due to the cryptocurrency’s volatility, but buyers and sellers are finding creative ways to deal with these challenges [...] By incorporating the learning from our peers into our approach we can embrace this innovation.”

Bitcoin payments for properties have already taken place in cities across the US, as well as in the United Arab Emirates and Indonesia. Blockchain technologies have seen a rising use in real estate as well, with the city of South Burlington, Vermont implementing a pilot Blockchain program in Jan. 2018 to record real estate transaction.


source: https://cointelegraph.com/news/northern-ireland-property-developer-to-accept-bitcoin-as-payment-option

[meer45]

Real smart on the companies' part to start accepting bitcoin when the price is low. Pretty much everyone feels like the price will start surging sometime within this year, so once the companies' accumulate bitcoin at a low price point like this, they will have a lot of fun when the price starts to increase later on in the year.

[leath08]

I think this is great, we need more building companies doing this.
Im sure i read a real estate project in dubai is excepting Bitcoin as a way of payment.
This just what we need, help push Bitcoin to the next level

[bitart]

Real smart on the companies' part to start accepting bitcoin when the price is low. Pretty much everyone feels like the price will start surging sometime within this year, so once the companies' accumulate bitcoin at a low price point like this, they will have a lot of fun when the price starts to increase later on in the year.

That's fine if they can do it  in the legal way. Accepting bitcoin as a company is really a challenge (if you are outside of Japan), it depends on your book-keeper and on your tax-advisor too if they advise you to do it or not. I can imagine that the owner of a small company let people to pay with bitcoin some smaller amounts and the owner puts his money into the company instead of the bitcoin, but in this case it's not the company who runs the risk of the bitcoin price volatility but the owner himself (and also he can enjoy the benefits of the bitcoin price raise, if it rises...) Bitcoin don't need regulation between people but when it comes about company and people relation, there's a need for at least a basic regulation to let bitcoin reach the mass adoption sooner or later...

[Welsh]

That's fine if they can do it  in the legal way. Accepting bitcoin as a company is really a challenge (if you are outside of Japan), it depends on your book-keeper and on your tax-advisor too if they advise you to do it or not. I can imagine that the owner of a small company let people to pay with bitcoin some smaller amounts and the owner puts his money into the company instead of the bitcoin, but in this case it's not the company who runs the risk of the bitcoin price volatility but the owner himself (and also he can enjoy the benefits of the bitcoin price raise, if it rises...) Bitcoin don't need regulation between people but when it comes about company and people relation, there's a need for at least a basic regulation to let bitcoin reach the mass adoption sooner or later...

Well, if you are dealing with Bitcoin and earn over a certain amount then you'll need to either do your taxes yourself or hire an accountant anyway. It doesn't matter if you are a company or a day trader. Accepting Bitcoin as a business only as a few limitations and concerns, the biggest being exposure and the amount of people willing to use Bitcoin for your services is very limited.