I'm All In - Sold My House!

[Next BillG]

Such negativity.
The guy held on through the longest bear market we've ever had, through sheer grit.  And now we're on the upswing.
The initial decision to take such a deep plunge would have been proved foolhardy if he had sold at a loss.  He didn't.

I agree.
OP showed huge balls when selling his property for BTC and he has my respect for going through all this lows and dramas we had during that time. Sure this is gambling on a very high level, but if it plays out well for him in the next years he fully deserves it.

You never know what will happen of course with the value. And I hope for him that he can have a lot of money later.
But it is very risky of course. But I respect you mate. And hope for you that you will have profit.

I have the same feeling. It needs lots of courage to do that.

[1715000463]

1715000463

[1715000463]

1715000463

[CoinsRoyal]

That is very good to go all in, but that can also be very risky, if the value is going down than that will be not good for you.
But lets not wait for that. And just wait and see for what will happen with the value. I think that it will rise in the future.
But it needs take some time and that is the bad thing.

[7Priest7]

Hi All,

I have been following Bitcoin for over a year and was the first person ever to put my house for sale for bitcoin.

http://www.cbc.ca/newsblogs/yourcommunity/2013/03/alberta-man-accepting-bitcoins-in-exchange-for-home.html

Not sure if you followed my story from a year ago, but the house just sold on Friday, and will make the news tomorrow I suspect. When the house closed on Friday I got approximately 648 BTC for my house which is based on prices over the past 6 months when the deal was actively negotiated, legal fees, realtor fees, and a bunch of contract wording that I frankly don't understand. I am now all in! I really believe in bitcoin. It is the future of the world. I look forward to the continued price increase and one day I plan to own my own island. I will truly be a bitcoin billionaire by the time I am 25 I believe. This house was inherited from my father who passed away a few years ago and he always believed in me and told me I would make it big one day and so I shall. Wish me luck

Tay More

that is a very risky thing, you also should think that if you'll make lots of profit you should buy that house back

also halving will come pretty soon in just few months so you should be really happy to have all these bitcoins now,  i hope you will get lots of profit

[talkbitcoin]

Such negativity.
The guy held on through the longest bear market we've ever had, through sheer grit.  And now we're on the upswing.
The initial decision to take such a deep plunge would have been proved foolhardy if he had sold at a loss.  He didn't.

I agree.
OP showed huge balls when selling his property for BTC and he has my respect for going through all this lows and dramas we had during that time. Sure this is gambling on a very high level, but if it plays out well for him in the next years he fully deserves it.

You never know what will happen of course with the value. And I hope for him that he can have a lot of money later.
But it is very risky of course. But I respect you mate. And hope for you that you will have profit.

sometimes you have to take big risks if you want to make a big change in your financial life. but i think it is never a good thing to go all in even if it turns out ok in the end, it would be super risky and losing money is no fun and the more you invest the more you will lose even with a small change.

[Raja_MBZ]

That's a big big risk. You shouldn't put on the money which you can't afford to lose.

Good luck anyways.

[Greenenergy]

This is definitly the best thing he did in his whole life ! In maximum a dozen of year, he will be millionaire, but surely before this time !

[Hashminers]

This is definitly the best thing he did in his whole life ! In maximum a dozen of year, he will be millionaire, but surely before this time !

Of course its pretty nice what he did, but I would never risk it because the bitcoin is still unpredictable so its unsure if the bitcoin will let him be a millionaire.
I hope it will but its not sure, maybe the halving will help him a lot.

[subercoin]

I don't remember how much bitcoin was worth back then, so does someone know how much he paid for those 648btc back when he bought them?

I can see they are 270k$ now but I want to know how much profit he made

[LMGTFY]

I don't remember how much bitcoin was worth back then, so does someone know how much he paid for those 648btc back when he bought them?

I can see they are 270k$ now but I want to know how much profit he made

Huh? He received those 648BTC for his house. He didn't "pay" anything - he sold his house for BTC.

... When the house closed on Friday I got approximately 648 BTC for my house which is based on prices over the past 6 months when the deal was actively negotiated, legal fees, realtor fees, and a bunch of contract wording that I frankly don't understand. ...

The BTC/USD rate on Bitstamp was around $630 on the Friday the house was sold.

[rosh]

I don't remember how much bitcoin was worth back then, so does someone know how much he paid for those 648btc back when he bought them?

I can see they are 270k$ now but I want to know how much profit he made

Huh? He received those 648BTC for his house. He didn't "pay" anything - he sold his house for BTC.

... When the house closed on Friday I got approximately 648 BTC for my house which is based on prices over the past 6 months when the deal was actively negotiated, legal fees, realtor fees, and a bunch of contract wording that I frankly don't understand. ...

The BTC/USD rate on Bitstamp was around $630 on the Friday the house was sold.

So even if he didn't sell his coins, he is sitting on paper losses of 30+%.
Sad.

[BlackSpidy]

So even if he didn't sell his coins, he is sitting on paper losses of 30+%.
Sad.

One can only hope the poor (wo)man played the swings in price, and ended up with profit... but I don't think he (or she) did.

[abercrombie]

Status update, in good spirits currently posting from a public library with free Internet access.

Back in Aug 2015 when Bitcoin reached $200, wifey left with the kids and now living with some jerk.  Foods stamps have helped me get by so nutritionally I'm doing fine.  

Bitcoins won't be sold, refuse to take a loss.  The coins are all in an address stored in my head, a 12 word brian wallet!  Hopefully I still remember all the words, gets a little fuzzy after the 3rd word.  This is what's great about Bitcoin, brings banking to the unbanked poor with bad credit.  

Still optimistic, with the halving coming, we just may reach all time highs.  Once Bitcoin reaches $2,000 USD, I'll drive to my wife's place in a Ferrari, and show her my new hot girlfriend.  

Dumpster dove at Sears for some refrigerator boxes, found some shelter.  

#keepingthefaith

[sidhujag]

Status update, in good spirits currently posting from a public library with free Internet access.

Back in Aug 2015 when Bitcoin reached $200, wifey left with the kids and now living with some jerk.  Foods stamps have helped me get by so nutritionally I'm doing fine.  

Bitcoins won't be sold, refuse to take a loss.  The coins are all in an address stored in my head, a 12 word brian wallet!  Hopefully I still remember all the words, gets a little fuzzy after the 3rd word.  This is what's great about Bitcoin, brings banking to the unbanked poor with bad credit.  

Still optimistic, with the halving coming, we just may reach all time highs.  Once Bitcoin reaches $2,000 USD, I'll drive to my wife's place in a Ferrari, and show her my new hot girlfriend.  

Dumpster dove at Sears for some refrigerator boxes, found some shelter.  

#keepingthefaith

damn man that is hard.. I'm not sure what you were thinking to sell a home in the hottest real estate market in the world. Im sure that home is atleast $1.2M now so your above about 300% losses right now.. I dont dissagree long term but the problem with young people is that they get greedy and let their emotions get the best of them. They don't want to "lose" out on the next best thing... but considering which asset you started from you should have consulted experts. Oh well you still got a good amount of BTC... i wish i could have bought your home for 648 btc or whatever I would have done it in a heartbeat.

[starsnshamrocks]

What a great story. Crazy but great.

[Oriannaa]

That is very risky mate. You never know what the value will be with Bitcoin. And that is not good.
I hope for you that you are lucky and that you can have some a lot of profit with it and that you will be rich. But we will see for what is going to happen.

Its risky but the whole bitcoin itself is risky if you ask me, I think its pretty cool if you do this, you are really have made a sacrifice for the bitcoin.
I think and hope you will make a lot of profit in the future but it will be rough time.

its only a risk, if you paid for bitcoin.

but if you obtained it through your own set of skill and free time then youre not at a losing position to start with.

[armansolis593]

Status update, in good spirits currently posting from a public library with free Internet access.

Back in Aug 2015 when Bitcoin reached $200, wifey left with the kids and now living with some jerk.  Foods stamps have helped me get by so nutritionally I'm doing fine.  

Bitcoins won't be sold, refuse to take a loss.  The coins are all in an address stored in my head, a 12 word brian wallet!  Hopefully I still remember all the words, gets a little fuzzy after the 3rd word.  This is what's great about Bitcoin, brings banking to the unbanked poor with bad credit.  

Still optimistic, with the halving coming, we just may reach all time highs.  Once Bitcoin reaches $2,000 USD, I'll drive to my wife's place in a Ferrari, and show her my new hot girlfriend.  

Dumpster dove at Sears for some refrigerator boxes, found some shelter.  

#keepingthefaith

This is really a bold move to do,it will take a lot of years before bitcoin reach 2k i hope you can survive the years that will pass.
Keep the faith it helps more user to join the bitcoin world.

[alisafidel58]

That is very risky mate. You never know what the value will be with Bitcoin. And that is not good.
I hope for you that you are lucky and that you can have some a lot of profit with it and that you will be rich. But we will see for what is going to happen.

Its risky but the whole bitcoin itself is risky if you ask me, I think its pretty cool if you do this, you are really have made a sacrifice for the bitcoin.
I think and hope you will make a lot of profit in the future but it will be rough time.

its only a risk, if you paid for bitcoin.

but if you obtained it through your own set of skill and free time then youre not at a losing position to start with.

Yeah gaining bitcoin from the work you did is not really costing you anything to be lose,dont buy and just get jobs that pays bitcoin and try to experiment to minimize your risk.

[HarryKPeters]

That is very risky mate. You never know what the value will be with Bitcoin. And that is not good.
I hope for you that you are lucky and that you can have some a lot of profit with it and that you will be rich. But we will see for what is going to happen.

Its risky but the whole bitcoin itself is risky if you ask me, I think its pretty cool if you do this, you are really have made a sacrifice for the bitcoin.
I think and hope you will make a lot of profit in the future but it will be rough time.

Its cool indeed, but I do not know if its worth the risk, its a house you are talking about and this can really be a problem later if the bitcoin will be much lower at the end.
I hope it will let him make profit but there is still a chance that there will happen the opposite and lose a lot of money because of it.

[fravia]

Hi All,

I have been following Bitcoin for over a year and was the first person ever to put my house for sale for bitcoin.

http://www.cbc.ca/newsblogs/yourcommunity/2013/03/alberta-man-accepting-bitcoins-in-exchange-for-home.html

Not sure if you followed my story from a year ago, but the house just sold on Friday, and will make the news tomorrow I suspect. When the house closed on Friday I got approximately 648 BTC for my house which is based on prices over the past 6 months when the deal was actively negotiated, legal fees, realtor fees, and a bunch of contract wording that I frankly don't understand. I am now all in! I really believe in bitcoin. It is the future of the world. I look forward to the continued price increase and one day I plan to own my own island. I will truly be a bitcoin billionaire by the time I am 25 I believe. This house was inherited from my father who passed away a few years ago and he always believed in me and told me I would make it big one day and so I shall. Wish me luck

Tay More

well selling your house(well it is your house now) is very risky thing and yeah you should buy it back if you will get lots of profit, just for your father

and good luck to you, i hope than bitcoin events like halving and other price rises will make you happy and rich

[Oriannaa]

That is very risky mate. You never know what the value will be with Bitcoin. And that is not good.
I hope for you that you are lucky and that you can have some a lot of profit with it and that you will be rich. But we will see for what is going to happen.

Its risky but the whole bitcoin itself is risky if you ask me, I think its pretty cool if you do this, you are really have made a sacrifice for the bitcoin.
I think and hope you will make a lot of profit in the future but it will be rough time.

Its cool indeed, but I do not know if its worth the risk, its a house you are talking about and this can really be a problem later if the bitcoin will be much lower at the end.
I hope it will let him make profit but there is still a chance that there will happen the opposite and lose a lot of money because of it.

If it has exponential growth, it also can be reverse as well.

But all the signs are there to be bullish, but its better to not risk the house and be homeless lol. Based on what youre talking on valuation.

I rather avoid that situation to be in.