Bitcoin affiliate network not paying rent
Buzz or not, I'll take it if it's an above-market gain. Hopefully the same is true with BTC! Martin What does the trusty accountant say about it? And all US federal agencies have said it is a legitimate means of exchange for those who choose to use it at the Senate hearing.
And I will have evidence of where the funds came from with the excahnge transaction and the wire transfer. So I will just file my taxes for value received for my property: To be honest, the one thing I'm not sure about is what responsibility, if any, I have for verifying that the funds from the buyer have not been obtained by illicit means.
I usually have loans, so the Bank usually checks 2 months of deposit statements not sure how much that really does..
But not sure if seller has any responsibility to check funds of buyers? Bitcoin in this case is like buying it with stacks of paper cash, more or less..
Anyway, if someone wants to pay quite a bit over market to get in the news, why should I be the one to stop them? Martin Let's see if someone bites: Not holding my breath, but in the off chance someone comes out of the strange bitcoin woodwork, it would be a very healthy gain.. If not, 10min of my life I'm really interested in the crypto-currency idea, so the ideas and conversations that swirl around are well worth the few minutes spent marketing the property.
I have bought properties all cash, and I have sold properties to many all cash buyers, verifying that the funds from the buyer have not been obtained by illicit means is something I have never heard of. Maybe there is some State requirement, but I doubt it. I doubt the Title Insurance or Escrow companies will bless your desire to accept Bitcoins. So you will have to find a buyer that is ok having no Title Insurance.
Engelo Rumora , you might be the first to do it in LiteCoin! John Rooster , Jon Moderator said the same that he wasn't aware of any responsibility of the seller to verify the funds either. Good point about getting title insurance though. Although aren't they mainly checking to see if the liens have been clear and the consideration has changed hands? Will they have an issue if the original buyer funds were held in a commodity BTC, oz of gold, herd of cows, whatever?
As long as there is a record of the sale and conversion to USD? I really don't know about the details of what they are doing. Thanks for tip though. Hadn't thought of that. But BP members are using bitcoins. Search bitcoin on BP if this link gets removed again.
It is not intended as a solicitation, just to inform people about the discussion on this forum regarding bitcoins if you remove the link, please leave the rest of the text: I would be careful about viewing bitcoin as a currency.
The volatility makes it more like a commodity. Imagine accepting metals as rent or barrels of oil, and at least those things actually have some intrinsic value. Sure you might get lucky with a short term increase in bitcoin value, but you'd be speculating. If that's a risk you can afford to take you may get lucky, but I personally would much prefer the good old US dollar. John rooster, I don't see why the title company would have an issue.
They would get paid in US Dollars but as long as the liens are satisfied and seller agrees with proper paperwork, then there should be no issue. It's starting to get some traction. Hi Peter, I'm sorry for being late here.
I'm one of the founders of Rentalutions. What you're describing is exactly what we do. As soon as tenants pay with bitcoin, it is immediately converted into USD. Both parties are happy. Bitcoin is certainly gaining in popularity, especially among young tech folks.
Property owners should be indifferent to the currency that tenants pay in as long as they ultimately receive USD. If you signed up for BiggerPockets via Facebook, you can log in with just one click! Log in with Facebook. Full Name Use your real name. Password Use at least 8 characters. Using a phrase of random words like: Members Search over 1,, members across BiggerPockets Companies Explore over 20, real estate-related companies Jobs Browse real estate job opportunities in your area Events Find upcoming real estate events and meetups near you Hard Money Lenders Pinpoint lenders near you with our nationwide database.
Properties For Sale Buy and sell real estate deals or seek out partners, financing, etc. Get the book now. Real Estate Books Shop books covering real estate investing and personal finance. Log In Sign up. I saw this link on the internet today - what are people's thoughts on this? Originally posted by Bryan H. With that said, it's still just too much hassle anyway!
Martin SF Bay Summit http: There sure is quite a lot of hassle to buy these things. Hopefully a smoother cash buying process will be figured out soon. Originally posted by Peter T. I have already commented on them in the existing thread. Originally posted by J Martin: Others compared Bitcoin to a fashionable high-yield investment program HYIP , a Ponzi-scheme investment scam that promises unsustainably high return on investment by paying previous investors with the money invested by new investors.
I understand the drug dealers on Tor sites , since this is pretty much the only thing they can receive without concerns about their identities, but if you sell anything illegal, WMZ should be the choice. Perfect Money also announced on Saturday, May 25 that it would no longer accept new account registrations from U. For now, it seems the primary beneficiary of the Liberty Reserve takedown will be WebMoney. This virtual currency also has barred U.
But not everyone in the underground who got burned by Liberty Reserve is ready to place his trust in yet another virtual currency. Ninja so adamantly believed this that, prior to the official press announcements from the U. Only two forum members took him up on the wager. Criminals who operate large groupings of hacked PCs tend to be a secretive lot, and jealously guard their assets against hijacking by other crooks.
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Fluctuation in BTC values. A logo from perfectmoney.