Re:Lake Tahoe Property Sells for $1.6M in Bitcoins
by michaelmu on Tuesday February 09, 2021 @04:31PM
(#26082619)
How would you handle escrow for that?
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Re:Lake Tahoe Property Sells for $1.6M in Bitcoins
by jiveturkey on Tuesday February 09, 2021 @04:44PM
(#26082735)
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.
Re:Lake Tahoe Property Sells for $1.6M in Bitcoins
by bitxbitxbitcoin on Tuesday February 09, 2021 @04:46PM
(#26082766)
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.