39 thoughts on “All 50 apartments listed in Bitcoin, sold out in Dubai

  1. miloKOKO February 15, 2018 / 11:39 pm

    “development is scheduled to be completed by 2020.”


    Anyone living in UAE knows that You shouldn’t buy real estate that is not finished. You can still see buildings left to root half finished all over Dubai, Sharjah and Ajman because of 2008 crisis.

  2. eggn00dles February 15, 2018 / 11:39 pm

    So ~4% of the listings sold in Bitcoin, and 10 of those 50 sales were to one person, and a few people bought 2.

    These are obviously real estate speculators buying apartments exclusively set aside for bitcoin transactions.

    Seems more like some whales splashing around rather than a trend towards bitcoins usage for payments.

  3. octave1 February 15, 2018 / 11:39 pm

    Anyone can just show up, transfer BTC to their wallet and own an apartment? Whatever nationality?

  4. Sjeiken February 15, 2018 / 11:39 pm

    money laundering 101.

  5. goodtimesKC February 15, 2018 / 11:39 pm

    Depending on how the contract is structured this could be an elaborate put option on the underlying BTC.

  6. AManInBlack2017 February 15, 2018 / 11:39 pm

    I’ve been to the UAE for an extended time (many months)

    I just want to take the time to mention that the UAE is not the place anyone should aspire to go to. It’s a close to a slave-based society as the modern world has.

    God help you if you are a woman.

  7. girkwood February 15, 2018 / 11:39 pm

    Michelle Moan is a cunt of the highest order. A failed entrepreneur who has gold dug her way to another wealthy partner who lives in tax exile in the Isle of Man.

    She is releasing an ICO soon, for what I can see is nothing other than fraud.

  8. domkane February 15, 2018 / 11:39 pm

    Will be built by “2020”… wonder if the value of BTC will make this a future pizza story for billionaires to laugh at.

  9. LuchoBanjo February 15, 2018 / 11:39 pm

    Fuck Dubai this City sucks !

  10. Melinda2much4u February 15, 2018 / 11:39 pm

    I just want to buy some beer in the grocery store with Bitcoin. Is that too much ask for?

  11. blackcardmusic February 15, 2018 / 11:39 pm

    never knew dubai had unfinished buildings just chillin

  12. Vito1900 February 15, 2018 / 11:39 pm

    And by the time they are finished they have to pay extra because of inflation

  13. ninggang February 15, 2018 / 11:39 pm

    this is the future .. I wish other cities follow this ๐Ÿ™‚

  14. keelgon87 February 15, 2018 / 11:39 pm

    I’d love to see a housing market that accept cryptocurrency as payments. It would be such an amazing possibility.

  15. cryptobitssss February 15, 2018 / 11:39 pm

    Should have waited 1 more month ๐Ÿคฃ

  16. HotSaucePancake February 15, 2018 / 11:39 pm

    Fuck me, why didn’t I invest in bitcoin when it was as low as ยฃ300. Would be now throwing some D’s on some biatches in my Dubai apartment. Should I invest in shitloads of other cryptos and hope that they will rise like btc ?

  17. Thecoinjerk February 15, 2018 / 11:39 pm

    Pretty good news! At least Bitcoin is being used!

  18. Mandrewsmash February 15, 2018 / 11:39 pm

    Anyone want to buy 3 acres in the mountains of Colorado for 1 BTC? Lol

  19. MrPoletski February 15, 2018 / 11:39 pm

    To be sold on for cash at a later date…

  20. Bitcoin4evaHodler February 15, 2018 / 11:39 pm

    Sounds like someone tries very hard to avoid paying taxes. Wish this was legal in the west… oh wait ๐Ÿ˜›

  21. GethD4d February 15, 2018 / 11:39 pm

    In this city?.. Hope ya’ll ok with losing your BTC.

  22. tyr034 February 15, 2018 / 11:39 pm

    Anyone think that 13 btc is fairly cheap ?

  23. wildthing37 February 15, 2018 / 11:39 pm

    Soon it will be commonplace to list items for sale in both the local currency and the equivalent amount in Bitcoin.

  24. Pipdotcom February 15, 2018 / 11:39 pm

    Look you guys this is really really huge. I sold heaps of apartments “off the plans” Hard, Hard work. We had to offer deals like “$1000 down, nothing to pay for 2 years, guaranteed tenants, miles of paperwork and the purchasers had to really qualify, heaps of assets, disposable income, right age group, not too old so they didn’t drop dead before settlement etc . To have purchasers this cash rich to just dump a few bitcoins on a development, shit a developers dream. If this is just the start of a real-estate trend the sky is the limit.

  25. TutorialToast February 15, 2018 / 11:39 pm

    Sigh.. props to them and everything but is this not any different from putting an I before your companys name during the dotcom boom?

  26. IndianaGeoff February 15, 2018 / 11:39 pm

    Are they priced in bitcoin or just payment accepted? There is no way to price something when the value moves so much on a day to day basis.

  27. chodpaba February 15, 2018 / 11:39 pm

    This is going to be the new 10,000 Bitcoin pizza meme.

  28. KIAN420 February 15, 2018 / 11:39 pm

    I have a property too in Toronto, is it legal to accept bitcoin as payment?

  29. silkypython February 15, 2018 / 11:39 pm

    That’s really fast! If more things could be bought with cryptocurrency, it will probably give an economic boost. Instead of holding cryptocurrency, people will be consuming.

  30. shakeNtake February 15, 2018 / 11:39 pm

    The off plan real estate market is purely an investor market nowadays. Evident in this situation because there are many multi property purchases by the same investor. IMO Itโ€™s not a sign of mass adoption since the target market in this case is not the mainstream consumer. That being said, I think this is great and I do think Dubai will be one of the first cities to mass adopt crypto. They already have plans to implement it for all government transactions, they also have crypto-to-cash ATMs and their own local exchanges.

  31. redditgiveawaytemp2 February 15, 2018 / 11:39 pm

    This is fake news/press release, specifically on the website it states they had: “150 off-plan apartments starting at 9BTC*” and now they have “132 Apartments available”. So they only sold 18. They also had a prize draw around September last year if they sold more than 50 apartments, but it got retracted and removed from the site since they sold less than 10.

    The Bitcoin apartments are all in the 2nd of two towers which is the south tower and less desirable as it likely is more occluded by the first tower.

    The towers are not expected to be completed until Summer 2019.

    They use Bitpay which converts everything to USD, they dont keep the Bitcoin.

    No updates to the construction gallery since september 2017 https://astonplazacrypto.com/gallery/ No guarantee of quality of build, timeliness of completion, utility rates, maintenance charges, refund if things go wrong.

    Really super risky “investment” that you would only break even in ~10 years. Youre basically selling your bitcoin expecting that in 10 years time, bitcoin would not double in that time. And that the letting market is going to stay increasing/active there over that time.

    Or lets just say you only bought if you wanted to live there yourself – the laws in Dubai are so stringent and its basically a tourist trap. There are already existing properties there at a better price (but dont accept bitcoin).

  32. timallender94 February 15, 2018 / 11:39 pm

    96 percent of Bitcoins are owned by 4% of the wallets … They already own it all

  33. ImmortanSteve February 15, 2018 / 11:39 pm

    So what’s the angle? People really want to trade real estate in bitcoin? New way to launder money?

  34. top_kek_top February 15, 2018 / 11:39 pm

    A few whales splashing money around and the sellers feel the price will go up so why not?

    Pretty stupid to actually do this though if you’re not holding a ton of BTC. By the time they bought and paid, their BTC they just traded went up another 1000.

  35. MoTreys February 15, 2018 / 11:39 pm

    Slaves built them so they don’t Care

  36. INT3R3STS February 15, 2018 / 11:39 pm

    Better spend your Bitcoin before it’s worthless

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