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Author Topic: [WTS] House (Erie, PA, USA) for Bitcoin  (Read 2792 times)
Kluge
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March 17, 2012, 07:20:25 PM
 #21

If you have the coin, I'm now willing to consider offers entirely in BTC, though I would like significantly more than asking price as I'll need to sell off a good number of the coins (at least half to give to the other owner) and I suspect I'll run into serious slippage issues.

Interested in the first house sold for Bitcoin? PM me!

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March 17, 2012, 08:59:30 PM
 #22

If you have the coin, I'm now willing to consider offers entirely in BTC, though I would like significantly more than asking price as I'll need to sell off a good number of the coins (at least half to give to the other owner) and I suspect I'll run into serious slippage issues.

Interested in the first house sold for Bitcoin? PM me!

If you sell off the BTC slowly over a week or two, you will not move the price much. The depth chart on the bid side has ~50,000 BTC total bids between the current price and $4.85.
Kluge
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March 20, 2012, 01:33:00 AM
 #23

You heard it here first! Price reduced by $5k USD (now under $110k).

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March 20, 2012, 01:48:01 AM
 #24

First house for sale for btc? good luck!
no. go look back about 9 months ago. 2 houses were for sale accepting bitcoins.

small lot size. from those pictures the house condition looks alright.
Kluge
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March 24, 2012, 07:58:32 AM
 #25

If you have the coin, I'm now willing to consider offers entirely in BTC, though I would like significantly more than asking price as I'll need to sell off a good number of the coins (at least half to give to the other owner) and I suspect I'll run into serious slippage issues.

Interested in the first house sold for Bitcoin? PM me!

If you sell off the BTC slowly over a week or two, you will not move the price much. The depth chart on the bid side has ~50,000 BTC total bids between the current price and $4.85.
In one week, I would have gone from selling ~22.68k coins @ ~$110,000, to now only receiving ~$106,050. I'm not rich, and half the house isn't owned by me, so I need to pay off half in USD, making the $4k loss entirely my own. In reality, for me, it'd be going from ~$50k after taxes & fees, to ~$46k. Obviously, it could go the other way, too, but it's an enormous gamble.

ETA: I misspoke. When you posted, the price was actually @ ~$5.3, so 110000/5.3=20,754. 20,754*4.76=$98,789. I would've actually gone from $50k from the sale, to less than $40k, a 20% loss.

ETA2: I suppose it wouldn't be too hard to hedge against that, though... could be messy, though. I suppose I also wouldn't necessarily take a "real" 20% loss on earnings in the above scenario, either. Depends on price fluctuation until I can offload $50k worth of BTC, which might be doable at the time of transaction without significant slippage.

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March 24, 2012, 09:44:52 AM
 #26


ETA: I misread. When you posted, the price was actually @ ~$5.3, so 110000/5.3=20,754. 20,754*4.76=$98,789. I would've actually gone from $50k from the sale, to less than $40k, a 20% loss.

The value of BTC in two years

2010 May  10000, a pizza
2011 Jul    10000, 3 houses
2012 April  10000, half a house

ridiculous, and I love it...

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March 24, 2012, 09:52:08 PM
 #27

Make sure you are taking depth into account, and not just multiplying x coins by y current rate. http://bitcoin.clarkmoody.com/ has a good depth calculator, just type in the number of coins to sell, and it will tell you how much USD you would actually get.

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Kluge
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Michael, send me some coins before I hitman you


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April 20, 2012, 08:29:51 AM
 #28

Pending offer in USD. $102.5k bid, contingent on sale of their house. Counter-offered seeking $107k. Until their house is sold, we are permitted to continue accepting bids.

Cheers.

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Firstbits: Compromised. Thanks, Android!


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April 22, 2012, 07:10:40 PM
 #29

Quick question: Have you by chance contacted a company like Bit-Pay, to see if they could streamline the conversion to USD for you? Granted, you probably don't *need* to do that, but if the process they offered was simple and guaranteed (IOW, they charge a set small fee, give you the remainder in USD, and take the risk of losing money when slowly selling the BTC), it might allow you to entertain BTC offers closer to the USD price.

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April 24, 2012, 11:48:37 AM
 #30

Selling your house for Bitcoin?
No wonder you have to sell your house.
Kluge
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Michael, send me some coins before I hitman you


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April 24, 2012, 12:50:15 PM
 #31

Quick question: Have you by chance contacted a company like Bit-Pay, to see if they could streamline the conversion to USD for you? Granted, you probably don't *need* to do that, but if the process they offered was simple and guaranteed (IOW, they charge a set small fee, give you the remainder in USD, and take the risk of losing money when slowly selling the BTC), it might allow you to entertain BTC offers closer to the USD price.

No, but that sounds fairly reasonable. I haven't had any offers in BTC, but I'd definitely consider it if I received one.

Don't mix your coins someone said isn't legal
Kluge
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Michael, send me some coins before I hitman you


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May 16, 2012, 04:45:44 AM
 #32

Still on the market. Landscaping has been drastically improved. Exchange rate is pretty solid, so I'd be fine doing GoxLast even if I were subject to significant slippage selling to pay her brother for half the value of the house.

Don't mix your coins someone said isn't legal
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