Prefer to talk in person? Find a mortgage specialist on Zillow

Will the digital currency Bitcoin change the currency game here in the U.S.A.?

Bond New York, a Manhattan-based real estate broker, has started accepting the digital currency better known as Bitcoin for real estate transactions. Will other real estate brokers follow suit and is Bitcoin quickly becoming an understood and accepted currency here in the U.S.A.?
  • January 04 2014 - Manhattan
  • 1
    1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (4)

Profile picture for broker_GRI
Yes. In some ways. We have yet to see how. You can run bitcoin through an escrow and/or change it out for fiat to distribute funds.
  • January 26 2014
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

That's funny. Great publicity, isn't it?
  • January 04 2014
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Blue in d Nile
Bit coin presently has a high appreciation rate, but similar to gold, that will not continue indefinitely.

Bit coin is one of the few money laundering techniques that has not been stopped by the FBI, CIA, nor NSA yet.  It is not clear how long that will last.  It is not "legal tender" in the United States, but as with anything of "value", it will be accepted by select parties.  Just as gaming chips in Los Vegas, they will be honored by the issuing party for the purpose they issued them.

By the way, would you prefer to be paid in Japanese Yen, or Chinese Renminbi?  How would you use that to pay your mortgage or buy groceries in the U.S.?

Also remember that you need to fill out a HUD-1 form if a mortgage is issued on the property for the purchase.  What do you put on the form if the agents/brokers were paid in bit-coin, and the purchase price is in bit-coin, and the mortgage is in bit coin?

How many mortgage companies in the U.S. are licensed to issue mortgages in bit-coin?

Remember that if you use bit-coin for a house purchase in the U.S. that you are providing a red-flag to the NSA and FBI of potential illegal gun smuggling, illegal drug sales, illegal pornography distribution, or illegal gambling rings.
  • January 04 2014
  • 3Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I doubt it.
  • January 04 2014
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.