BITCOIN CRAZE and What it means for Real Estate

BITCOIN CRAZE AND WHAT IT MEANS FOR REAL ESTATE - By: Christina Dube -

Bitcoin is complicated. The concept of virtual currency can be difficult for some people to grasp but more and more, we are hearing about bitcoin becoming an accepted form of payment for everyday goods and services. While there is much to discuss regarding cryptocurrencies, this article is going to focus on issues surrounding the use of Bitcoin for Real Estate purchase.

WHAT IS BITCOIN?

A virtual global currency not regulated or controlled by a central bank;no government oversight, no reporting. Simply throw out the notion of currency based on a country’s economy to accept this notion easier. While intangible, similar, to the value we assign to paper dollars, bitcoin’s value is very real.

IF THERE IS NO CENTRAL BANK, WHO ADMINISTERS THE CURRENCY?

Computers. They are virtual administrators, referred to as “miners” who