Read an article about a Texas home being sold for bitcoin, and this gave me an idea.
I personally don't buy into bitcoin or any cryptocurrencies, but I see an opportunity of turning crypto into cash instantly.
Sellers can pay a premium for accepting crypto transactions for their listing, but will receive premium price for accepting crypto from buyer.
& Buyers (Crypto Holders) are responsible for volatile currency that will cost a premium but will be instantly converted into cash.
Middle man, in this case a broker/realtor cashes in on premiums from seller before the home is even listed. & additionally with every transaction.
I personally think this idea will work, as many individuals invested into the bitcoin scheme just recently, and now facing severe drops, the smart ones will move to take a loss in order to convert into tangible & stable assets.
Share your thoughts & ideas on this.
I think the problem you're going to run into is the "crypto mindset". I have several friends/clients and personally even bought a car with crypto profits (though I'm now out).
Most of these guys will hold and the smart ones have diverted out of BTC and into alt coins.
What if they pay a premium of say... 10% and it happens to be on the day BTC takes a 30% dive?
I think you're talking about an extremely Niche' market. I have friends who have north of 250k in crpto that are capitalizing through day trading on the ups/downs of the market. They are not trying to over pay for houses with it.
Just my $0.02
The global flexibility provided by Bitcoin is grossly under appreciated.
The problem is that unless you yourself are a bitcoin advocate the premium a buyer would have to pay is astronomical. Converting out is far too costly. The only value in bitcoin is having it remain within the bitcoin system.
It does not translate to real money world therefor it's use is highly restricted.
If you want to see how restrictive try buying a coffee with bitcoin. Some businesses will deal in bitcoin but the cost to convert to real money value is extreamly high.
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