The Day I Bought a House With Litecoin
I am an ordinary person, one with dreams and desires. The majority of my life -- like many others -- I’ve dreamed about becoming rich and being able to frivolously enjoy life. However, there are very few times in our lives where we find ourselves capable of earning serious amounts of extra income both legally and easily. For the majority of us, money comes at a cost: time.
If we live for 100 years, we will only have 36,500 days from our birth to exist. Of that, only about 50% are actually spent actively earning income -- if you measure from ages 15-65. Even if we earned 50,000 USD each year, we would only end with 2.5M USD total without any investments. I’ve met people who refuse to invest, who refuse to use banks, and who refuse to trust anything but the underside of their mattress with their money. My question is, why?
For those reading this, the majority will understand what blockchain is. For those who don’t, it’s effectively a way of keeping track of a currency, and maintaining the faith and value of a currency, without having a standard such as gold or silver behind it. Once you conceptualize that, you can fundamentally understand why cryptocurrency is such a valuable asset -- it is a tracked faith and valuation. Now, there are many pro-and-anti arguments for centralization vs decentralization with it, but what matters most is that it is a tool that WILL be used in the future.
I got into cryptocurrency in early 2015, and used it for paying people for the most part. The amounts I would buy in were menial - mostly up to 500 USD (which at the time was over 100 BTC!), but it was a fun and safe way to transact with people across the globe. Then, one day, I put 1000 USD in for a deal I was making for some items in a game. Unfortunately, that person’s computer crashed and I couldn’t finish the deal -- but something interesting happened. When I went back to the page, I had 1010 USD instead of the 1000 I had put in. From that moment on, I decided to look into it further and start investing.
Fastforward two years, and it’s late 2017 and I’m holding over 1000 LTC and searching for a house to buy. I had thought I would have to withdraw it to buy, but instead I was lucky and found a crypto-enthusiast whose wife was okay with selling the house to me for LTC. A few weeks later, I had closed a 250,000 USD deal completely in LTC. The lawyers were paid in fiat by the seller, as were the realtors. But I had done something revolutionary, I had used LTC to buy a physical asset without using a check or a bank account -- and all for the transaction cost of $5. Going to the bank to get a certified check, then driving to give it to my realtor who would give it to the buyer -- would have cost twice that. It would have taken hours upon hours instead of the 5 minutes to confirm.
I won’t disclose where the house is, but I will say that it is a 5 bedroom, 2 bathroom, 16 room house on 2 acres of land. It has a nice sized kitchen, a fireplace, and room for my two dogs to run around and play. LItecoin has -- at this point in time -- helped me to create and cement a future for myself that is sustainable. And further, as I make more money I’m investing more and more into cryptocurrency, even in this bear market. I’ve started a business called NullFox Marketing to help me assist companies in the blockchain area become known by people who don’t know much about cryptocurrency -- and to help them succeed. The truth is, I want to see companies and people become millionaires from cryptocurrency and blockchain. It’s an amazing thing, and it’s here to stay. So, in a year or two from now, when I look back and see the 50% we’ve been down, I won’t be concerned, because I’ll know we’ve made it. And who knows? Maybe I’ll be buying a yacht next, or as some people like to suggest -- a lamborghini.
Oh and if you're on twitter, follow me @TheRealNullFox!