Thursday, 18 July 2013

Who Knew?!

I'd heard of people selling their homes for bitcoin but I'd never seen one actually listed until this morning when I found Bit Premier, who specialize in providing what amounts to a brokerage service for the sale and purchase of high end products using bitcoin.

So, checking out todays offerings, you can see everything from Google Glass to a luxury condo in the Bahamas - all purchasable with bitcoin!

"Fancy a new Porsche 911 Sir? Why that'll be 655 bitcoin please!"

Seriously, though, it strikes me that Bit Premier are offering a valuable service here; matching buyers to sellers, helping broker the transaction and holding funds in escrow until the buyer takes delivery - or occupation (...!) - and both parties indicate that they are happy to conclude their business.

This is similar to the service offered by operations like BitMit but whereas escrow services are, in our view,  overkill for the little things, Bit Premier's listings tip the other end of the scale entirely!

Detractors might argue that their brokerage fee is a little steep at 5% but given the sums of money and the value of the commodities being traded, the trade in bitcoin simply couldn't happen without the service they provide.  In any case, I am sure that the market will let them know whether this service is valued at the price...

...and isn't that the awesome thing about bitcoin?  It's the re-emergence of that free market we all learnt about in Economics 101 but hadn't really since the light of ever since.

Anyway, that's enough pontificating. I need to get back to the Bit Premier site and check out that light aircraft I've been after...  

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