[HN Gopher] Lake Tahoe Property Sells for $1.6M in Bitcoins
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       Lake Tahoe Property Sells for $1.6M in Bitcoins
        
       Author : jbegley
       Score  : 7 points
       Date   : 2021-02-09 21:26 UTC (1 hours ago)
        
 (HTM) web link (www.wsj.com)
 (TXT) w3m dump (www.wsj.com)
        
       | michaelmu wrote:
       | How would you handle escrow for that?
        
         | jiveturkey wrote:
         | As hinted at in the article -- via a bitcoin exchange. BitPay
         | in this case. BitPay is unlikely to be a title agency, so
         | likely no title insurance. I guess this kind of transaction can
         | make sense if it's difficult for the buyer to change BTC for
         | USD -- KYC and all that. For a $1.6M property I don't really
         | see the point.
        
         | bitxbitxbitcoin wrote:
         | The same way an all cash transaction would be handled, I
         | imagine.
         | 
         | In this instance, Martis Camp used BitPay and received USD in
         | their bank.
         | 
         | Bet they wished that they kept the 7400 BTC instead.
        
       | bitxbitxbitcoin wrote:
       | This needs a (2014). "$1.6M in Bitcoins" was 7400 BTC.
        
         | snypher wrote:
         | Around $300 million now.
        
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       (page generated 2021-02-09 23:02 UTC)