PQC: It’s not very good news for Bitcoin in particular and cryptomoney in general as a whole. Because Bitcoin, in this case, is use as an ASSET in exchange for another ASSET (just like Gold, diamond), not as a medium of exchange. Bitcoin or cryptomoney CAN ONLY truly BECOME “MONEY” and as medium of exchange IF and ONLY IF people can use it seamlessly in micro-transaction daily e.g to buy food, to pay for services etc.
At the moment, as I reported sometime ago, that governments and banksters have tried to sabotage, or at least restrict and contain the cryptoworld by issuing more regulations/controls on the moving (buying/selling) of goods and services. While developers in crypto world are so slow, or rather refuse to develop a faster user friendly and cost-free transaction system.
The biggest hurdle or a thorn in the Crypto system, I would say, is the whole system is totally dependent on the “miners” i.e the big players or whales, who whole the total power over the existing system. Miners alone decide the confirmation of a transaction. If miners turn of their servers (computers) the whole system is dead! That’s why I proposed the “automatic transaction confirmation algorithm” (ATCA) which is integrated into the wallet system so that a transaction can be confirmed by two online full node wallets, since a full node wallet is a copy of full blockchain, by which every condition and requirement of a transaction is checked and confirmed, or something like that. This feature will take away the “power” of the miners and to truly EQUALIZER EVERY USER in a true level playing field.
If there is no breakthrough in this aspect, Bitcoin and other alt-coins are just another monetary/financial tool for the rich and the powerful to control the economic activities of the mass.
Real estate tycoon Ben Shaoul has sold a retail condo in Manhattan’s prestigious Upper East Side for $15.3 million in Bitcoin (BTC). The news was reported by New York real estate magazine The Real Deal on Nov. 1.
Shaoul — who is president of the Magnum Real Estate Group — sold the 11,400-square-foot property to a Taiwan-based entity “Affluent International LCC,” according to a person familiar with the deal.
Luxury properties increasingly bought and sold for BTC
While Shaoul himself has reportedly declined to comment, Eric Hedvat — a broker with Jet Real Estate, which represented Magnum in the deal — characterized the transaction as “a seamless process.”
Magnum reportedly went into contract with two other buyers in the same building using Bitcoin in 2018 — one for a 624-square-foot studio at an asking price of $875,000 and the other a 989-square-foot one-bedroom at $1.48 million.
Another of Shaoul’s residential developments had been listed with an option to purchase using Bitcoin but was eventually sold for cash to Bronx-based investor Martin Shapiro last year for $82 million.
Beyond Magnum, the Real Deal notes that Brooklyn-based rental management company announced in 2018 that it would be accepting cryptocurrency as payment.
A current listing for a $29 million property on the Upper East Side, marketed by Corocan, notes the seller will “accept payment in Bitcoin, Ethereum, or Ripple.”
Use Bitcoin to buy a 19th-century English church
Earlier this fall, Cointelegraph reported that a 150-year-old English church was listed for sale at $1.5 million, either in Bitcoin or fiat currency.
Blockchain, the technology underpinning Bitcoin, is also increasingly being implemented to cement ownership rights for real estate and business in order to mitigate fraud in land registries.