Second largest US mortgage lender will accept crypto payments this year

Post by robot_no_419 » Thu, Aug 19, 2021, 10:47 PM UTC

endymi0n wrote: post #108

robot_no_419 wrote: post #84

You gotta love the HN crowd who finds a way to remain skeptical after cryptocurrency continues to occupy more and more ground in the financial world. Cryptocurrency continues to expand and grow by every conceivable metric and some people still think it's a fragile scam. Here's a hint: when your politicians already own cryptocurrency and are arguing in its favor, that's the signal that the industry has already basical…

As someone who‘s been through the dotcom bubble, I vividly remember talking to my classmate driving home on our bikes and he told me about the Infineon stock he just bought. We were kids, 16 years old and felt like the smart brokers in the magazines. In retrospect, the writing was on the wall when tabloids were advising to excited and innocent consumers which stock to buy on their front page. The shock didn‘t come mo…

Post by wilg » Thu, Aug 19, 2021, 10:50 PM UTC

robot_no_419 wrote: post #110

arcticbull wrote: post #102

Earlier quoted context omitted.

Did you include the time it takes to buy solana on an exchange and the time it takes to sell solana on another exchange and settlement periods on both sides? You said send money, which solana is not so you should include the whole process. Instant payments have been available through the world for ages, SEPA for instance and soon RTP in the US but that value doesn’t accrue to the underlying currency. That makes the s…

Personal anecdotes about this: Everyone I talk to who has actually used cryptocurrency all think it's easier to use than conventional finance. Venmo and Circle have cash limits (which caused a problem when I was helping someone buy a car once) as well as geographic restrictions (which was also a problem once when I was sending someone in South America some payments). It also takes 3 days to verify a new bank with Ven…

Post by ipython » Thu, Aug 19, 2021, 11:02 PM UTC

ahnick wrote: post #29

mc32 wrote: post #9

Will people using crypto to buy/finance houses need to provide documentation regarding the provenance of the funds as well as being in the clear around any tax declarations? If not, there would likely be some who see this as a vehicle to clean up some holdings, depending on provenance.

Is documentation for the provenance of funds, typically required in all cash real estate transactions?

Post by meowface » Thu, Aug 19, 2021, 11:17 PM UTC

endymi0n wrote: post #108

robot_no_419 wrote: post #84

You gotta love the HN crowd who finds a way to remain skeptical after cryptocurrency continues to occupy more and more ground in the financial world. Cryptocurrency continues to expand and grow by every conceivable metric and some people still think it's a fragile scam. Here's a hint: when your politicians already own cryptocurrency and are arguing in its favor, that's the signal that the industry has already basical…

As someone who‘s been through the dotcom bubble, I vividly remember talking to my classmate driving home on our bikes and he told me about the Infineon stock he just bought. We were kids, 16 years old and felt like the smart brokers in the magazines. In retrospect, the writing was on the wall when tabloids were advising to excited and innocent consumers which stock to buy on their front page. The shock didn‘t come mo…

Post by mgh2 » Thu, Aug 19, 2021, 11:52 PM UTC

epa wrote: post #60

jonas21 wrote: post #25

> The use of crypto in real estate purchases has a history dating back seven years, with BitPay helping facilitate the sale of a Lake Tahoe property that sold for $1.6 million in BTC in 2014. In case anyone's wondering, it was 2,739 BTC, which would be worth around $127M today. See: https://www.wsj.com/articles/lake-tahoe-property-sells-for-1...

This transaction was actually facilitated by chamath palihapitiya who paid USD cash to a Bitcoin company who bought it and paid out the seller in USD cash. It was a publicity stunt to prop up Bitcoin and it worked.