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(SacBee)   $1.6 million property in Lake Tahoe given away to stranger for free   (sacbee.com) divider line 48
    More: Stupid  
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14564 clicks; posted to Main » on 16 Aug 2014 at 4:57 PM (39 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



48 Comments   (+0 »)
   
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ZAZ [TotalFark]
2014-08-16 03:28:50 PM  
The seller got real money. The buyer paid with electrons. The middleman assumed the risk.
 
2014-08-16 03:43:29 PM  
"If any buyers are interested in buying Martis Camp property with Bitcoin, we're certainly set up to help them do that," Hull said.

In other words, "Hey, this really worked.  Yeah we can do it again, sure what the hell"
 
2014-08-16 05:06:28 PM  
I was under the impression from the media that the only thing you could buy with bitcoins was heroin and mdma. Could they have misled me?
 
2014-08-16 05:07:18 PM  
This is like saying I bought a $1.6 million property with comic books, if I sold the comic books to a middle-man and they gave the money to the property-owner, and then gave me the deed.
 
2014-08-16 05:20:23 PM  
Can they pay property taxes and HOA dues in bitcoins too?
 
2014-08-16 05:21:47 PM  
I chose the option: I got ur bitcoins right here.
 
2014-08-16 05:28:35 PM  

fanbladesaresharp: Can they pay property taxes and HOA dues in bitcoins too?


The state lets you pay with credit card, for a fairly high service charge, so why the hell not. They'll just go through a broker like most shops.
 
2014-08-16 05:33:56 PM  

foxyshadis: fanbladesaresharp: Can they pay property taxes and HOA dues in bitcoins too?

The state lets you pay with credit card, for a fairly high service charge, so why the hell not. They'll just go through a broker like most shops.


Yep. Or they could use payment services that forward the payment from a verified credit card. The service charge is usually a few percent, but it's useful for people who want to get a few more credit card miles to buy a flight, or have a brief cash flow issue.


Personally, my imaginary magic internet money has done quite well for me. And, it's a hell of a lot easier for companies to accept, compared to arranging a credit card processing account and getting the electronics - the credit card swiping machines can cost several hundred dollars, and require a separate secure line.
 
2014-08-16 05:36:08 PM  
Wow. Subby thinks getting $1.6 million USD in your bank account is giving something away for free.

Subby is not too bright.
 
2014-08-16 05:36:22 PM  
The only ones that got screwed is the bankers on this one. Where do i sign up? Sounds like a good deal. Nobody tacking on a percentage when they did nothing.
 
KIA
2014-08-16 05:48:08 PM  
FBI launches money laundering investigation in 5... 4...
 
2014-08-16 05:57:16 PM  
I think the sale of my family home may be close to a record for modern days.  We were waiting for escrow on their previous home to close so they could pay me.  Around 10am, I got the call from my agent that their escrow had closed and money was moving.  Around 11:30, I got a text alert from my bank telling me that a deposit greater than the $10 trigger on my alert settings had been made.  I was moving stuff out while they were moving stuff in so I handed over my last key as we passed.  It was a happysad day.
 
2014-08-16 05:58:54 PM  
Forgot to quote:   We actually closed in the quickest time frame that we've ever closed on a developer lot transaction.


jtown: I think the sale of my family home may be close to a record for modern days.  We were waiting for escrow on their previous home to close so they could pay me.  Around 10am, I got the call from my agent that their escrow had closed and money was moving.  Around 11:30, I got a text alert from my bank telling me that a deposit greater than the $10 trigger on my alert settings had been made.  I was moving stuff out while they were moving stuff in so I handed over my last key as we passed.  It was a happysad day.

 
2014-08-16 06:21:41 PM  
This may have happened but it reeks of a positive PR piece for public bitcoin acceptance.  Oo lookee how safe this was.  It would have been neat if those dudes in China with the warehouse of bitcoin 'mining' computers did the purchase.  It's just my crappy opinion but I really want to see bitcoin crash or just go away.  All money is bullshiat but I don't see it as an improvement.
 
2014-08-16 06:23:27 PM  

fanbladesaresharp: Can they pay property taxes and HOA dues in bitcoins too?


HOA?
Shiat! Can I get my pretend money back?
 
2014-08-16 07:12:26 PM  

berylman: This may have happened but it reeks of a positive PR piece for public bitcoin acceptance.  Oo lookee how safe this was.  It would have been neat if those dudes in China with the warehouse of bitcoin 'mining' computers did the purchase.  It's just my crappy opinion but I really want to see bitcoin crash or just go away.  All money is bullshiat but I don't see it as an improvement.


[LIKE]
 
2014-08-16 07:42:26 PM  
So was the buyer a drug dealer or an arms merchant?
 
2014-08-16 07:45:57 PM  

symptomoftheuniverse: I was under the impression from the media that the only thing you could buy with bitcoins was heroin and mdma. Could they have misled me?


Didn't they mention the hitmen too?

Actually, I've seen quite a few news stories on it.  They range from the new digital currency of the underworld to very positive about it and of course the is it worth anything angle too.

Ebay is considering accepting it.  A number of small businesses have started to accept it.  Those often make the news.
 
2014-08-16 07:50:24 PM  

gfid: Didn't they mention the hitmen too?

Actually, I've seen quite a few news stories on it.  They range from the new digital currency of the underworld to very positive about it and of course the is it worth anything angle too.

Ebay is considering accepting it.  A number of small businesses have started to accept it.  Those often make the news.


So can you cash out in a reasonable time frame now?  That was the biggest problem a few months ago.  You've got $10000 "worth" of bitcoins but good luck turning that into cash.

/I still view BitCoin as the platonic ideal of vaporware tech stocks
 
2014-08-16 08:04:38 PM  
I gots pile of dick coins. What can I buy?
 
2014-08-16 08:09:40 PM  
No telling how long that buyer has been sitting on those BitCoins, either.. When BitCoin first came out in 2009, you could buy 1,300 of them for $1.  In 2010, 10,000 BitCoins got you a $25 pizza.

Now they're $523 EACH.

1,300 BitCoins bought in 2009 for $1 would be worth $680,000 today.

So that buyer could have theoretically spent less than $3 for that $1.6 Million dollar property.

Boggles the mind, doesn't it?
 
2014-08-16 08:10:46 PM  

you have pee hands: So can you cash out in a reasonable time frame now?  That was the biggest problem a few months ago.  You've got $10000 "worth" of bitcoins but good luck turning that into cash.

/I still view BitCoin as the platonic ideal of vaporware tech stocks


The problem is that, because of the lack of support by the legitimate financial industry, you have to deal with shady Chinese exchanges that can go under and steal all your money (historically). This is not an issue with the currency ... it is an issue with finding a trustworthy company to deal with.

If cryptocurrencies continue to gain legitimacy (as they very slowly seem to be doing), more and more trustworthy companies will provide services ... including exchanges that will get you your cash quickly.

The current risks right now for people wanting to deal in cryptocurrencies are the value fluctuations (still larger than mainstream currencies) and the risk of government bans, etc.
 
2014-08-16 08:14:37 PM  

Fart_Machine: So was the buyer a drug dealer or an arms merchant?


Credit card hacker. The account went through some carder's forum behind seven proxies.
 
2014-08-16 08:18:38 PM  

gfid: Ebay is considering accepting it. A number of small businesses have started to accept it.


And some larger ones, such as Dell.

you have pee hands: So can you cash out in a reasonable time frame now? That was the biggest problem a few months ago. You've got $10000 "worth" of bitcoins but good luck turning that into cash.


I know it's not traditional around here to read the articles but you might want to make an exception for this one.

For smaller amounts, in some cities you can cash out at a Bitcoin ATM.
 
2014-08-16 08:49:39 PM  
Dang it, I was outbid on this deal. I offered $1.6 million in Susan B. Anthony dollar coins, but then they figured out that she faked her Pacific ocean flight disappearance.
 
2014-08-16 09:06:29 PM  
So it's worth anywhere from $50 to a gazillion depending on the day.
 
2014-08-16 09:18:10 PM  
 
2014-08-16 09:53:15 PM  

GrailOfThunder: So that buyer could have theoretically spent less than $3 for that $1.6 Million dollar property.

Boggles the mind, doesn't it?


Yes, it does.  I scoffed at it when it first was introduced., but now I wish I had gambled $20 or so on it.

I also think that this late to the party all the huge profit opportunities have passed.

I still think the whole thing might come tumbling down.
 
2014-08-16 10:04:01 PM  

Chris45215: foxyshadis: fanbladesaresharp: Can they pay property taxes and HOA dues in bitcoins too?

The state lets you pay with credit card, for a fairly high service charge, so why the hell not. They'll just go through a broker like most shops.

Yep. Or they could use payment services that forward the payment from a verified credit card. The service charge is usually a few percent, but it's useful for people who want to get a few more credit card miles to buy a flight, or have a brief cash flow issue.


Personally, my imaginary magic internet money has done quite well for me. And, it's a hell of a lot easier for companies to accept, compared to arranging a credit card processing account and getting the electronics - the credit card swiping machines can cost several hundred dollars, and require a separate secure line.


Citation needed.
 
2014-08-16 10:05:54 PM  

gfid: GrailOfThunder: So that buyer could have theoretically spent less than $3 for that $1.6 Million dollar property.

Boggles the mind, doesn't it?

Yes, it does.  I scoffed at it when it first was introduced., but now I wish I had gambled $20 or so on it.

I also think that this late to the party all the huge profit opportunities have passed.


All of this.

I still think the whole thing might come tumbling down.


I am confident it will.
 
2014-08-16 10:28:22 PM  
How many bitcoins does it take to make a whole coin?
 
2014-08-16 10:35:32 PM  

Farking Canuck: Wow. Subby thinks getting $1.6 million USD in your bank account is giving something away for free.

Subby is not too bright.


No.  Subby is saying that you can generate your own bitcoins and that after the initial investment in equipment you are creating "free money" for yourself.
 
2014-08-16 10:36:09 PM  

Fark Offten: How many bitcoins does it take to make a whole coin?


2 bits.
 
2014-08-16 10:36:17 PM  

Ivo Shandor: I know it's not traditional around here to read the articles but you might want to make an exception for this one.

For smaller amounts, in some cities you can cash out at a Bitcoin ATM.


So one venture capital company has done $100M worth of bitcoin transactions in its lifespan.  Meanwhile, Magic The Gathering Mt. Gox "lost" $500M worth of bitcoins somewhere in the tubes.  The article and Wiki don't really answer my question.  That ATM map is hilarious.  None in the Washington-NY corridor, but at least there's one in Albany!
 
2014-08-16 10:38:13 PM  

ComaToast: Dang it, I was outbid on this deal. I offered $1.6 million in Susan B. Anthony dollar coins, but then they figured out that she faked her Pacific ocean flight disappearance.


Seriously?  Susan B. Anthony tried to fly around the world?  Man, you need to brush up on your history!  It was not Susan B. Anthony.  It was Molly Pitcher!
 
2014-08-16 11:46:04 PM  

Mock26: ComaToast: Dang it, I was outbid on this deal. I offered $1.6 million in Susan B. Anthony dollar coins, but then they figured out that she faked her Pacific ocean flight disappearance.

Seriously?  Susan B. Anthony tried to fly around the world?  Man, you need to brush up on your history!  It was not Susan B. Anthony.  It was Molly Pitcher!


No, Molly Pitcher wove the first American flag. You're thinking of Anne Frank.
 
2014-08-17 12:13:23 AM  

Mock26: Fark Offten: How many bitcoins does it take to make a whole coin?

2 bits.


Known as a bytecoin.
 
2014-08-17 12:14:33 AM  
bitcoins

3.bp.blogspot.com

sorry
 
2014-08-17 12:20:13 AM  

whidbey: bitcoins

[3.bp.blogspot.com image 585x400]

sorry


He was on C-span this morning hatching conspiracy theories about Ukraine. Man, am I glad that idiot is out of public office...
 
2014-08-17 12:59:59 AM  

symptomoftheuniverse: I was under the impression from the media that the only thing you could buy with bitcoins was heroin and mdma. Could they have misled me?


Naw, you think?

You can buy a Dell with Bitcoin.

But then you'd have a Dell.
 
2014-08-17 01:10:20 AM  

Mock26: ComaToast: Dang it, I was outbid on this deal. I offered $1.6 million in Susan B. Anthony dollar coins, but then they figured out that she faked her Pacific ocean flight disappearance.

Seriously?  Susan B. Anthony tried to fly around the world?  Man, you need to brush up on your history!  It was not Susan B. Anthony.  It was Molly Pitcher!


it was anne frank in a Messerschmidt.
 
2014-08-17 01:18:07 AM  

Mock26: No.  Subby is saying that you can generate your own bitcoins and that after the initial investment in equipment you are creating "free money" for yourself.


If you read the headline you will see that subby says that original land owner gave away his land to a stranger for nothing. Seeing as the original land owner is $1.6 USD million richer the statement is wrong.

As for mining bitcoins ... it is like any other business venture. You pay the up front costs and the ongoing costs you may make a profit. The first people who took risks on the market made much larger than average profits. Again, much like any other business.
 
2014-08-17 01:35:00 AM  

Mock26: Farking Canuck: Wow. Subby thinks getting $1.6 million USD in your bank account is giving something away for free.

Subby is not too bright.

No.  Subby is saying that you can generate your own bitcoins and that after the initial investment in equipment you are creating "free money" for yourself.


At this point, the power spent calculating new bitcoins eats away most of the profit for custom rigs and more than the profit for stock PCs. Everyone knows about BC now. If it's so easy and lucrative, why aren't you the king of the Internet for figuring it out?

And subby might identify with those who argued against the removal of the gold standard in the 70s. After all, dollar bills are just made of paper. (Actually mostly recycled denim, but who's keeping track?) That burns, and gold lasts forever!
 
2014-08-17 01:53:39 AM  

Djorra: Mock26: Farking Canuck: Wow. Subby thinks getting $1.6 million USD in your bank account is giving something away for free.

Subby is not too bright.

No.  Subby is saying that you can generate your own bitcoins and that after the initial investment in equipment you are creating "free money" for yourself.

At this point, the power spent calculating new bitcoins eats away most of the profit for custom rigs and more than the profit for stock PCs. Everyone knows about BC now. If it's so easy and lucrative, why aren't you the king of the Internet for figuring it out?

And subby might identify with those who argued against the removal of the gold standard in the 70s. After all, dollar bills are just made of paper. (Actually mostly recycled denim, but who's keeping track?) That burns, and gold lasts forever!


Care to cite your sources on this?
 
2014-08-17 05:40:52 AM  

Mock26: Djorra: Mock26: Farking Canuck: Wow. Subby thinks getting $1.6 million USD in your bank account is giving something away for free.

Subby is not too bright.

No.  Subby is saying that you can generate your own bitcoins and that after the initial investment in equipment you are creating "free money" for yourself.

At this point, the power spent calculating new bitcoins eats away most of the profit for custom rigs and more than the profit for stock PCs. Everyone knows about BC now. If it's so easy and lucrative, why aren't you the king of the Internet for figuring it out?

And subby might identify with those who argued against the removal of the gold standard in the 70s. After all, dollar bills are just made of paper. (Actually mostly recycled denim, but who's keeping track?) That burns, and gold lasts forever!

Care to cite your sources on this?


The Blaze.
 
2014-08-17 07:21:07 AM  

jtown: I think the sale of my family home may be close to a record for modern days.  We were waiting for escrow on their previous home to close so they could pay me.  Around 10am, I got the call from my agent that their escrow had closed and money was moving.  Around 11:30, I got a text alert from my bank telling me that a deposit greater than the $10 trigger on my alert settings had been made.  I was moving stuff out while they were moving stuff in so I handed over my last key as we passed.  It was a happysad day.


you're gonna miss it
 
2014-08-17 04:41:52 PM  

theMightyRegeya: symptomoftheuniverse: I was under the impression from the media that the only thing you could buy with bitcoins was heroin and mdma. Could they have misled me?

Naw, you think?

You can buy a Dell with Bitcoin.

But then you'd have a Dell.


They work...for awhile.
 
2014-08-17 08:03:32 PM  

Mock26: ComaToast: Dang it, I was outbid on this deal. I offered $1.6 million in Susan B. Anthony dollar coins, but then they figured out that she faked her Pacific ocean flight disappearance.

Seriously?  Susan B. Anthony tried to fly around the world?  Man, you need to brush up on your history!  It was not Susan B. Anthony.  It was Molly Pitcher!


>snork< Molly Pitcher. As if everyone hasn't heard of that band!
 
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