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Man Uses Bitcoin to Buy a Piece of Paradise in Nicaragua
Coin Desk ^ | 2 January, 2014 | Kadhim Shubber

Posted on 01/02/2014 8:26:52 AM PST by Errant

Many people dream of quitting their job, collecting their bags and jetting off to a tropical paradise forever. Many people dream, but few people act. Gregory Simon is one of the few who decided to act.

This year he moved to Nicaragua and bought a 0.3-acre plot of land with bitcoin.

Just minutes from the beach in an area of San Juan del Sur called Paradise Bay, he’s hoping to build a home there with his girlfriend.

“By using BTC we were able to complete the transaction quickly with no need to involve banks or other third party intermediaries. I don’t know yet what the house design will be, my girlfriend and I will be designing it together in the coming months,” he told CoinDesk.

A former banker, Simon first travelled to Nicaragua in mid-October after quitting his job in institutional equity at the end of 2012.

(Excerpt) Read more at coindesk.com ...


TOPICS:
KEYWORDS: bitcoin; bitcoinland; bitcoinproperty; nicaragua; property

1 posted on 01/02/2014 8:26:53 AM PST by Errant
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To: Lurkina.n.Learnin; nascarnation; TsonicTsunami08; SgtHooper; Ghost of SVR4; Lee N. Field; DTA; ...

Click to be Added / Removed.
2 posted on 01/02/2014 8:27:23 AM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Errant
Other News:

56% of Bitcoiners Believe the Bitcoin Price Will Reach $10,000 in 2014

PayPal May be Planning Virtual ‘Tokens’ According to eBay Patent Proposal

Lebanon’s Central Bank Issues Bitcoin Warning

Why Are So Many Digital Currency Players Anonymous?

3 posted on 01/02/2014 8:30:38 AM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Errant

Bitcoin for me may be the sign that governments world wide have been losing authority to govern for a long time now.

People will always move to the freest economic model they can find.


4 posted on 01/02/2014 8:33:44 AM PST by Bayard
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To: Errant
From the article: The current banking system is beyond immoral. It takes advantage of the most helpless and poor people on earth,” he said, explaining why he left banking after a 12-year-career.

I hope he enjoys his "paradise" in Nicaragua.

5 posted on 01/02/2014 8:34:49 AM PST by HarleyD (...one of his disciples, whom Jesus loved.)
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To: Errant
I don’t know yet what the house design will be, my girlfriend and I will be designing it together in the coming months,” he told CoinDesk.

He apparently hasn't learned that more relationships break up over building/renovating differences of opinion than over affairs!

6 posted on 01/02/2014 8:36:10 AM PST by JimRed (Excise the cancer before it kills us; feed & water the Tree of Liberty! TERM LIMITS NOW & FOREVER!)
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To: Errant
Nicaragua has some “interesting” concepts in regards to property laws and the right to “own” property.

One of the problems in Nicaragua is that they have an interesting court system and police system. Think corruption and if you are in possession of a piece of property and the police don't feel obliged to move you off it, its yours to use as you see fit.

When I was last there I saw “beach homes” that had been abandoned in various states of construction. Some had squatters living in them, others were just vacant.

Nicaragua is not a country I would want to go to live in as a foreigner. Oh, and when I was last there, it was clear that the ruling party doesn't care about the people, only about making sure rebellion doesn't sweep the rulers out of office. Nicaragua was deeply in debt to Venezuela, and not the economic wheels are coming off that bus, so Nicaragua is in for hard times and that could spell civil unrest.

I don't want to be on any bit-coin bump list.

7 posted on 01/02/2014 8:36:58 AM PST by Robert357 (D.Rather "Hoist with his own petard!" www.freerepublic.com/focus/f-news/1223916/posts)
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To: Bayard
Could The Fed Lose Control Of The Frankenstein Economy It Has Created?
8 posted on 01/02/2014 8:37:26 AM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Robert357

Anyone who would move to a country without the rule of law is a fool.


9 posted on 01/02/2014 8:39:40 AM PST by Eric in the Ozarks ("Say Not the Struggle Naught Availeth.")
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To: Eric in the Ozarks

Especially when they’re already living in one! lol


10 posted on 01/02/2014 8:50:13 AM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Robert357
Nicaragua is not a country I would want to go to live in as a foreigner.

My goal was to retire in Honduras, that is, until the drug lords took over.......My BIL is from there and the only way he vacations there now is via a direct flight to Roatan........They won't step foot on the mainland.

11 posted on 01/02/2014 8:57:21 AM PST by Hot Tabasco (Miss Muffit suffered from arachnophobia.....)
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To: Errant
...By using BTC we were able to complete the transaction quickly with no need to involve banks or other third party intermediaries...

Well duh. All he did was pay cash for the property. No mortgage so no banks. You can do that with fiat money.

12 posted on 01/02/2014 8:57:39 AM PST by FReepaholic (Stupidity is not a crime, so you're free to go.)
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To: Eric in the Ozarks

“Anyone who would move to a country without the rule of law is a fool.”

****

You don’t have to move. The U.S. has been without the rule of law. Obama, Roberts, and Holder have made sure of that.


13 posted on 01/02/2014 8:57:52 AM PST by peyton randolph (Tagline copyright in violation of Directive 10-289)
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To: Errant

If I was going to “drop off the face of the earth”..... it wouldn’t be to Nicaragua. Costa Rica maybe :) Looked into that once.


14 posted on 01/02/2014 9:03:47 AM PST by kjam22 (my newest music video:http://www.youtube.com/watch?v=l7gNI9bWO3s)
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To: Errant
He could have stayed here and got a house for free:

Would be a luxury home in Nicaragua!

15 posted on 01/02/2014 9:04:24 AM PST by bigbob (The best way to get a bad law repealed is to enforce it strictly. Abraham Lincoln)
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To: bigbob

Or Detroit


16 posted on 01/02/2014 9:06:52 AM PST by Vaduz
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To: peyton randolph

Some of us knew that before 2008, see my post #23 from Jan 2009.

http://www.freerepublic.com/focus/news/2173300/posts

“Welcome to New Kenya”

“Where the law of the jungle has replace the Law of the Land”

23 posted on Wed 28 Jan 2009 06:42:31 AM CST by Texas Fossil


17 posted on 01/02/2014 9:10:01 AM PST by Texas Fossil
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To: Errant
"By using BTC we were able to complete the transaction quickly with no need to involve banks or other third party intermediaries."

Wow, that's great. No real estate agents or escrow, no mortgage company, no closing costs, no title insurance, no commissions, no taxes ...all whisked away by digital tech.

18 posted on 01/02/2014 9:10:56 AM PST by Baynative (Got bulbs? Check my profile page.)
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To: HarleyD

0.3 acres. ??? You can’t even build a decent sized Jackhouse on that.


19 posted on 01/02/2014 9:14:40 AM PST by Venturer (Half Staff the Flag of the US for Terrorists.)
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To: Errant

“By using BTC we were able to complete the transaction quickly with no need to involve banks or other third party intermediaries.”

The same thing goes for cash. Just try that in the USA and see what happens! try to buy a house in the USA using bitcoins. Be sure to post your experiences here for all to laugh at.


20 posted on 01/02/2014 9:15:08 AM PST by I want the USA back (Media: completely irresponsible traitors. Complicit in the destruction of our country.)
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To: Errant

I just don’t understand what it is. I read another thread where China made a server just for bit coin. I’m totally clueless..


21 posted on 01/02/2014 9:16:05 AM PST by cardinal4
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To: kjam22

There is a Freeper who has a place in Nicaragua and really talks it up. Don’t remember who it is now. I too have thought of getting a little place outside the US. Have done a little research and have even contacted a realtor or two. Still thinking about it. Not sure where would be the best place though. ;)


22 posted on 01/02/2014 9:17:20 AM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Robert357
One of the problems in Nicaragua is that they have an interesting court system and police system. Think corruption and if you are in possession of a piece of property and the police don't feel obliged to move you off it, its yours to use as you see fit.

You mean as opposed to the corruption in the USA where if a developer wants your property they bribe a politician to condemn your land and then hand it over at pennies on the dollar while our corrupt courts sign off on these deals?

23 posted on 01/02/2014 9:22:19 AM PST by MeganC (Support Matt Bevin to oust Mitch McConnell! https://mattbevin.com/)
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To: peyton randolph

We have the basis.
We can return to it if we want to.


24 posted on 01/02/2014 9:22:41 AM PST by Eric in the Ozarks ("Say Not the Struggle Naught Availeth.")
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To: I want the USA back
The same thing goes for cash. Just try that in the USA and see what happens!

There was a time, in the not too distant past, when you could. Many deeds had the price of the sale listed as "$1 and other valuable considerations".

25 posted on 01/02/2014 9:24:10 AM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: cardinal4
I read another thread where China made a server just for bit coin.

Not just a server, but a processor ( ASIC ) chip made specifically to run the Bitcoin algorithm.

26 posted on 01/02/2014 9:27:20 AM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Baynative
Due to FATCA, it has become exceeding hard for the average American citizen to get a bank account in a foreign country. That may have eased some lately - not sure.
27 posted on 01/02/2014 9:35:21 AM PST by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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