Bitcoin: With the cryptocurrency being
used in a growing number of
places around the world, nations and banks are beginning to
grapple
with Bitcoin as a long-term element of the global economy.
Using Bitcoin, U.S. Banker Makes Home in Nicaragua (El Nuevo Diario, Nicaragua)
"I started to talk about Bitcoin with a realtor (in
Nicaragua) and he became interested in the subject. I proposed paying him that
way and he agreed. ... I think that apart from Nicaragua, there are only two
other countries. In Chile and Mexico, there are properties available that can
be bought using this currency. ... People who can benefit most from Bitcoin are
not from rich countries, but from third world nations or developing countries.
I see great potential for Bitcoin to help Nicaragua."
Former U.S. banker Greg Simon and his wift-to-be Tayana are moving to Nicaragua, thanks largely to the country's open policies toward the virtual currency Bitcoin.
Greg
Simon is a banker from the United States who lived in Japan until, at the end
of 2012, he and his fiancée Tayana took their savings
and began traveling the world. After visiting 40 countries, they decided to
settle in Nicaragua, where, using the virtual currency Bitcoin, they purchased
land in San Juan del Sur.
"The
longer we stayed in Nicaragua, the more we liked it," says Simon. The
couple finally decided to settle in San Juan del Sur, one of the most important
tourist areas the country has.
The
ex-banker is now investing in companies related to Bitcoin, a virtual currency
that is revolutionizing the economy. Simon has become an expert on and advocate
of the idea. As he and his fiancée were looking for their future home, there noticed
a lot of interest in Bitcoin, a virtual currency to which many countries,
including China, are opposed.
"I
started to talk about Bitcoin with a realtor (in Nicaragua) and he became
interested in the subject. I proposed paying him that way and he agreed. He
wanted to have the actual physical coins, but didn’t know how to get them,"
Simon said. The real estate agent, Sean Dennis, became interested in acquiring some
of the virtual coins about a year ago, but the idea took shape only after he
met Simon.
"It
was so easy. I opened my online wallet and Greg sent me the initial deposit in Bitcoins. The transfer was immediate and cost nothing,"
Dennis said.
For
a lot of about 13,000 square feet, the American paid 80 Bitcoins,
which are currently the equivalent to about $72,000. The exchange rate of the
virtual money fluctuates constantly.
In
Simon's experience, Nicaragua is one of few Latin American countries where one
can make land transactions in Bitcoins.
Posted By Worldmeets.US
"I
think that apart from Nicaragua, there are only two other countries. In Chile
and Mexico, there are properties available that can be bought using this currency,"
the former banker explained.
San Juan del Sur
is interested in accepting Bitcoin
Since
the novel transaction was made, Sean Dennis of Century 21 Nica
Life Realty, has received about 100 e-mails from people congratulating him
on the sale, and others interested in using Bitcoin to buy land in San Juan del
Sur.
Other
agents have also showed an interest in this type of business. "I’ve been
approached by several vendors in the area of San Juan del Sur, who told me they
would also accept Bitcoin for their properties," Dennis said.
The
realtor said there are lots available for about 80 Bitcoins
($72,000), and even some houses are for sale with owners who would accept a
transaction in virtual currency.
Promotion
planned in Nicaragua
Simon
is interested in promoting the use of the electronic currency in Nicaragua, and
even wants to pursue ideas related to Bitcoin.
"Here’s
an example relevant to Nicaragua: let’s say there is a Nicaraguan in the United
States. He is paid by check once a week or once a month. Normally, such a
person would have to pay about a 7 percent fee to send his money home. It's
expensive. With Bitcoin technology, you can do the same without banks or other
institutions - just two cell phones," he explains.
"People
who can benefit most from Bitcoin are not from rich countries, but from third world
nations or developing countries. I see great potential for Bitcoin to help
Nicaragua," adds Simon.
