Bought a house using Bitcoin.

OK, to be clear, I didn't pay for the house in Bitcoin. However, I did liquidate a percentage of my holdings for the purpose of purchasing a home for my wife and me.

We're trying to have kids, and we want one of us to stay home with the kids. We found a house where I could afford the monthly mortgage+insurance+tax payment completely on my own! I did have to prove ownership over the coins for a certain period, which, if any of you out there are looking to buy a house with your newly generated wealth, PM me and I can talk to you about what that was like.

We were able to get an FHA loan, which limited our down payment. That Bitcoin-thing in which I so adamantly believed enabled me to buy our home! A home for our future children! And in the process, both real estate agents were really interested to hear more about it, and I educated them both! In fact, I gifted my real estate agent a small bit of Bitcoin and now he's obsessed.

Regardless of what happens from here, I'm so grateful for this Bitcoin experiment, and I'm sure my future children will be as well!

Edit: No, I didn't buy the house outright. But does anyone ever say "The bank bought a house, and I'm paying them off"? No, people just say "I bought a house." The point of this post was to elaborate that I was able to purchase a home thanks to Bitcoin. Perhaps I could've worded the title better, so I apologize for misleading anyone. Best title would be "Bought a house thanks to Bitcoin" IMO.

Edit 2: Wow, received tons of messages requesting more information about this process. Glad to know there are other people who were able to benefit from this price run! Here is the information re: what the mortgage company needed from me to prove ownership.

They wanted me to establish ownership of the coins for at least 2 years. I was able to go back into my software wallet, find the transaction where I sent my coins to my Trezor (which was almost exactly 2 years ago), and then showed the address where my coins sat on my Trezor (which had the same amount I sent from my software wallet). Next I showed the Coinbase address that had the amount I sent from my Trezor. Then I showed the transaction that resulted in the sale of the coins into my bank account. Does that help?

submitted by /u/rgodwingamma
[link] [comments]
Bitcoin

Today I took out a $325,239 equity loan on my house to purchase 191.118 bitcoin.

Having been a lurker here on reddit for a while and a daily BTC price checker, I have finally decided to take the plunge and go "all in" with bitcoin.

Having a terminal disease, and a penchant for making big risks (so far I have been correct most of the time) – I decided to make my newest lunge, using what equity I have accrued on my estate over the past 10 years since the 2008 financial crisis.

If bitcoin reaches, the 10k mark, which I see as a distinct possibility, or I would not have taken such a risk – I plan on moving to the west coast and getting away from all the angry people here where I currently reside.

Wish me luck, I'm going to need it.

submitted by /u/gingerbreadfutters
[link] [comments]
Bitcoin