A look at the California home accepting bitcoin as payment. It’can you buy bitcoin got an in-ground pool and sprawling mountain views.
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624 0 0 0 1. 47 0 0 0 13 6. 5 0 1 0 6. The lake house at the very edge of California’s Joshua Tree National Park has an in-ground pool, sprawling mountain views and a steady vacation rental history. And for just under 32 bitcoins, it could be all yours. The past few months have been a wild ride for the cryptocurrency once used largely in the digital black market. 19,000 in recent months after slowly rising for the better part of a decade.
2010 — are currently more than enough to buy a couple pizza franchises. 599,000 — or the equivalent in bitcoin. Some sales have already taken place: In 2014, a Lake Tahoe, Calif. 599,000 house to a digital currency with a value almost constantly in flux.
Using bitcoins to buy a house is legal, but it isn’t easy, says Josias N. Dewey, a Miami real estate lawyer who has authored several publications on blockchain currencies. There are practical obstacles that make that challenging, but not impossible. Many title companies and other real estate service providers, Dewey says, are unfamiliar with Bitcoin best practices and do not want to be liable for custody of bitcoins. Until then, you might find it is difficult to find title insurance. Some real estate agents have resorted to converting bitcoin to cash, then back again to close sales.