How to Buy Bitcoin in Singapore? How About Coinbase and ...

500BTC for House - Viable?

Guy on Gold Coast (Aus) lists his house for 500BTC. At the time of listing 1BTC was AUD $12,804 - net AUD price 6.4Mil AUD.
How viable is this..? (i know, it is a marketing ploy but lets discuss it)
Scenario 1 - you actually have 6.4 Mil AUD in the bank.
==> Totally impractical
Scenario 2 - you go to the bank, under the factional reserve system they write you up a loan, for 6.4 Mil (frac ratio 10% so they have 640k AUD in reserve).
==> Seems even less practical
Scenario 3 - perhaps there are other exchanges around the world with higher daily limits - US? but you likely can't use them unless you are a citizen of that country. Thinking.. use coinbase etc. SWIFT xfer 6.4Mil AUD to USD, then coinbase it from USD to BTC.
As an aside, there is Stamp Duty payable under QLD state laws - though Stamp Duty is calculated against $AUD. if the place is changing hands for a 'trade of agreed value in BTC' - is stamp duty payable still ? how would it be calculated.? to my knowledge the GST and Stamp duty laws specifically reference $AUD, in this sense doing the trade in BTC is akin to trading in clam shells, is it not.?
interesting.. anyone, anyone, Bueller..?
House Link :
submitted by pepperjackal to btc [link] [comments]

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