Man Uses Bitcoin to Buy a Piece of Paradise in Nicaragua

[AnArk RE]

The uses of Bitcoin continues to grow.

“By using BTC we were able to complete the transaction quickly with no need to involve banks or other third party intermediaries. I don’t know yet what the house design will be, my girlfriend and I will be designing it together in the coming months,” he told CoinDesk.

The article on CoinDesk http://www.coindesk.com/man-bitcoin-buy-paradise-nicaragua/.

[guybrushthreepwood]

The uses of Bitcoin continues to grow.

“By using BTC we were able to complete the transaction quickly with no need to involve banks or other third party intermediaries. I don’t know yet what the house design will be, my girlfriend and I will be designing it together in the coming months,” he told CoinDesk.

The article on CoinDesk http://www.coindesk.com/man-bitcoin-buy-paradise-nicaragua/.

How much did he pay? I'd like to buy some land with Bitcoin in the future.

[mprep]

The uses of Bitcoin continues to grow.

“By using BTC we were able to complete the transaction quickly with no need to involve banks or other third party intermediaries. I don’t know yet what the house design will be, my girlfriend and I will be designing it together in the coming months,” he told CoinDesk.

The article on CoinDesk http://www.coindesk.com/man-bitcoin-buy-paradise-nicaragua/.

How much did he pay? I'd like to buy some land with Bitcoin in the future.

I wouldn't, not at the current price flunctuations. I'd facepalm till my face became flat if I bought land with BTC that are after a few months worth over 2 times more.

[Dogtanian]

The uses of Bitcoin continues to grow.

“By using BTC we were able to complete the transaction quickly with no need to involve banks or other third party intermediaries. I don’t know yet what the house design will be, my girlfriend and I will be designing it together in the coming months,” he told CoinDesk.

The article on CoinDesk http://www.coindesk.com/man-bitcoin-buy-paradise-nicaragua/.

I wouldn't, not at the current price flunctuations. I'd facepalm till my face became flat if I bought land with BTC that are after a few months worth over 2 times more.

How much did he pay? I'd like to buy some land with Bitcoin in the future.

IT could become worth two times less as well. It'll steady off in the future.

[jongameson]

Nicaragua?  Paradise?  i'd rather live in Las Vegas

[mprep]

The uses of Bitcoin continues to grow.

“By using BTC we were able to complete the transaction quickly with no need to involve banks or other third party intermediaries. I don’t know yet what the house design will be, my girlfriend and I will be designing it together in the coming months,” he told CoinDesk.

The article on CoinDesk http://www.coindesk.com/man-bitcoin-buy-paradise-nicaragua/.

How much did he pay? I'd like to buy some land with Bitcoin in the future.

I wouldn't, not at the current price flunctuations. I'd facepalm till my face became flat if I bought land with BTC that are after a few months worth over 2 times more.

IT could become worth two times less as well. It'll steady off in the future.

Well, it's a chance I wouldn't like to take. It's pretty much as trading huge amounts of BTC.

[Dogtanian]

The uses of Bitcoin continues to grow.

“By using BTC we were able to complete the transaction quickly with no need to involve banks or other third party intermediaries. I don’t know yet what the house design will be, my girlfriend and I will be designing it together in the coming months,” he told CoinDesk.

The article on CoinDesk http://www.coindesk.com/man-bitcoin-buy-paradise-nicaragua/.

How much did he pay? I'd like to buy some land with Bitcoin in the future.

I wouldn't, not at the current price flunctuations. I'd facepalm till my face became flat if I bought land with BTC that are after a few months worth over 2 times more.

IT could become worth two times less as well. It'll steady off in the future.

Well, it's a chance I wouldn't like to take. It's pretty much as trading huge amounts of BTC.

A chance of what you wouldn't like to take?

[Dianetix]

That can be said about anything you buy with BTC. With it's volatility you can be up or down from the purchase price; it just depends at what time you assess your purchase.

[mprep]

The uses of Bitcoin continues to grow.

“By using BTC we were able to complete the transaction quickly with no need to involve banks or other third party intermediaries. I don’t know yet what the house design will be, my girlfriend and I will be designing it together in the coming months,” he told CoinDesk.

The article on CoinDesk http://www.coindesk.com/man-bitcoin-buy-paradise-nicaragua/.

How much did he pay? I'd like to buy some land with Bitcoin in the future.

I wouldn't, not at the current price flunctuations. I'd facepalm till my face became flat if I bought land with BTC that are after a few months worth over 2 times more.

IT could become worth two times less as well. It'll steady off in the future.

Well, it's a chance I wouldn't like to take. It's pretty much as trading huge amounts of BTC.

A chance of what you wouldn't like to take?

A chance of a major price flunctuation upwards after a purchase of property.

[Nipperkin]

any more details on the purchase price or the terms of the deal?  I'm curious if he paid 100% in btc, what closing costs and other fees where added on...and potentially and financial savings he got from paying in btc vs usd.

[OrenG]

Prices in Nicaragua are starting heat up. If you have any idea what happened in Costa-Rica in the past 15 years, and why, you'll see that the Nicaraguan government is taking the same steps to open their country for investments, with much better and longer experience of land rights laws.

Many think Nicaragua is a very good investment, and it's already high on luxury vacations list:
NYTimes: http://tmagazine.blogs.nytimes.com/2012/11/16/a-delicate-balance/
Wall Street Journal: http://online.wsj.com/news/articles/SB10001424052702304526204579097092240499428
And many more.

Amazing surfing beaches, cheap and healthy food and other advantages making tourism there grow. It's worth noting that crime is very low (yes, lowest than in your city, my Las Vegas friend): The Economist Crime in Nicaragua A surprising safe haven

I'm currently selling a luxury house (not just land) I've built there. Price (in UDS) and more info is available in that post.

[darkoko]

You need to be careful with investment like this, because country like Nicaragua can change the law in just few years, and you can loose everything...

[meade16]

The movie "Puff Puff Pass" makes references to Nicaragua

[OrenG]

You need to be careful with investment like this, because country like Nicaragua can change the law in just few years, and you can loose everything...

This is absolutely true.

However, this is true for any country. Real Estate owners were a bit hesitant before the new Coastal law was passed, but when it was accepted it was extremely fair - allowing owners of current property to remain owners etc.
On the other hand you have the US who has passed some of the craziest laws like FATCA and other Tax laws in the past 10 years, which really makes you wonder about what is safe. Nicaragua have an orderly land registry going back the the 19 century, unlike some eastern European countries, for example.

So, yeah, do your homework before you decide where to place your wealth...

I'm currently selling a luxury house (not just land) I've built in Nicaragua. Price (in UDS) and more info is available in that post.

[tomsmith1111]

any more details on the purchase price or the terms of the deal?  I'm curious if he paid 100% in btc, what closing costs and other fees where added on...and potentially and financial savings he got from paying in btc vs usd.

I was down there recently and spoke to this realtor.  The deal was paid for 100% in Bitcoin and then immediately converted to cash.  Really no different than any other currency conversion I would presume.  The seller wasn't asking for Bitcoin, the buyer wanted to use Bitcoin.

I didn't ask the purchase price of the sale, but for that neighborhood, I would say you are in the $100k-300k range for just the lot.

You can build an amazing house for $100/sqft (granite, high end features, etc) and a very nice house for $60/sqft.

Have a full time live in maid for around $150/month.  Very attractive place to retire!  Or just move, if you have a portable job/income stream.  Beautiful country, very safe, etc..  According to the UN rating system it rates right next to the US for safety.  Surprising for the 2nd poorest country in the western hemisphere...