An Aussie Engineer Wants to Exchange his House for Bitcoin

[Zed0X]

A Northern Territory man spoke to micky.com.au that he intends to sell his house for Bitcoin. His decision comes amid the cryptocurrency’s longest ever recorded bear market. Dave Kelly has put his seaside apartment in Darwin up for sale with a price tag of AU$600,000 or an equivalent in bitcoin. The amount translates into almost 127 BTC based on current prices.

Full story at https://www.cryptovibes.com/entertainment/house-for-bitcoin/

[sampoerna]

A brave decision to sell or exchange a house for bitcoin. I don't know why he is really confidence with the idea. Personally, I will never exchange my house for bitcoin. It is too risky, except if we have many houses, and exchange only one of them.

[ZionRTZ]

A brave decision to sell or exchange a house for bitcoin. I don't know why he is really confidence with the idea. Personally, I will never exchange my house for bitcoin. It is too risky, except if we have many houses, and exchange only one of them.

If you read the article, the reason for selling was actually stated there. I'll help you save some time by posting it here.

"Mr. Kelly said that he chose to sell his house for bitcoins since he believes that the current prices are considerably low compared to what it could rise to in the next five years. He said that he is in it for the long haul and does not intend to ride on the ups and downs of the market waves."

[Octoalts]

Wow, that's amazing. A very brave decision, even though currently Bitcoin is down and buying Bitcoin is now the right time, but Selling a home for a long-term investment in Bitcoin is very high risk.

[KYB40]

Wow, that's amazing. A very brave decision, even though currently Bitcoin is down and buying Bitcoin is now the right time, but Selling a home for a long-term investment in Bitcoin is very high risk.

Maybe the guy has enough funds left to sustain his daily lifestyle. I think it is also a smart move. This is similar to buying bitcoins at cheap prices with funds which, I assume, he can afford to lose.

[IyemRoker]

A brave decision to sell or exchange a house for bitcoin. I don't know why he is really confidence with the idea. Personally, I will never exchange my house for bitcoin. It is too risky, except if we have many houses, and exchange only one of them.

If you read the article, the reason for selling was actually stated there. I'll help you save some time by posting it here.

"Mr. Kelly said that he chose to sell his house for bitcoins since he believes that the current prices are considerably low compared to what it could rise to in the next five years. He said that he is in it for the long haul and does not intend to ride on the ups and downs of the market waves."

Precisely !

I like the courage of Mr. Kelly, because now Bitcoin is around 3000-4000 USD and if the price goes up to 8000 USD, Mr. Kelly gets 100% profit and that with the long term.

3000-4000 USD = 1 Bitcoin x 1 The house of Mr. Kelly = 127 Bitcoin
8000 USD = 100% = 127 BTC + 127 BTC = 254 BTC

Mr. Kelly is Katakuri (One Piece) from the real world. LOL

[mlawson71]

Let's see how that will go for him what with BTC's current price.

[Munareal]

This is a brash decision that shows the confidence this man has on bitcoin. I know he will not regret his decision for Bitcoin is a very good investment. The market might be down ow but be assured that this will change in a few years

[Irina$]

 It is a very risky undertaking, if he even believes that Bitcoin will rise in price, it is still not enough for such a step. I would not have risked exactly that way, better, a titmouse in her hands than a crane in the sky. (Russian proverb)

[Nolkupit46]

Very interesting and brave decisions making by aussie engineer.. He sell his apartment in BTC payment which makes people more interesting to invest in cryptocurrency.