Real Estate for Bitcoin, Leave Your Estate in Bitcoin | Hodler's Digest

Ahoy there, Hodlers and Shiver me Timbers this week Johnny Depp gets into crypto. He has partnered with an entertainment platform that hopes to stop illegal piracy using blockchain. Success from this partnership could be a much needed reversal of fortunes for the man behind Captain Jack Depp is perhaps the only pirate to lose, then go in search of his own treasure. Also this week, Rand Neuner announced a bombshell. Historic NY real estate could be sold for bitcoin. Elon Musk locked out of Twitter, a back launch date announced and find out what happens to bitcoin in the afterlife. Ladies and gentlemen, this is your weekly Hodler's Digest. Coinbase can now roll out crypto custody services in New York following approval from state regulators, New York's Department of Financial Services, the Coinbase Custody Trust Co. LLC will offer a small number of custody services for cryptos such as bitcoin, Cash, Ethereum, Ethereum, Classic Ripple and Litecoin. Coinbase President Asif Hirji welcomed the news. Launched earlier this year, Coinbase Custody's main focus is institutional customers and is designed specifically to hold substantial amounts of crypto. Securing the holdings involves several complexly named measures, including on chain segregation of crypto assets, offline multisig and geographically distributed transaction protection, and robust cold storage, auditing and reporting. But hold your horses, Hodlers. Just because they have received approval doesn't guarantee they will start actually offering all six cryptos when the rollout begins. Despite their speed and beauty, Lambos are notoriously difficult to live in. You really need somewhere a bit more roomy. Well, if you're interested. So some historic New York real estate is up for sale. Located on the very exclusive Riverside Drive, the seller is actually a Hodler himself. Hedge fund manager Roy Niederhofer is bullish on bitcoin, so much so that despite bearish trends in the market of late, he will accept the equivalent of $15,995,000 in Bitcoin for the apartment. CNBC published an article that told nocoiners how much bitcoin they would have now if they had invested $1,000 five years ago, a modest profit of 5k. Not too bad. Well, if we take Tim Draper's 250k Bitcoin price prediction seriously in a little over three years, and assuming Niederhofer Hodles, the hedge fund manager would make the not so modest sum of around $600 million. We spoke to Niederhofer about his love of the property and bitcoin.

My general feeling that Bitcoin is a transformative, revolutionary new asset that has first made me so interested and bullish on the cryptocurrency, but also willing to transact this big property for bitcoin because I really, I wish I had more. And I see this as an opportunity to very easily purchase more. I did advise a group that was transacting a Stradivarius violin in exchange for bitcoin. And it was a long time ago. It was in 14, I believe. So it was a time when bitcoin was very, very. But a guy who had a bunch of bitcoin decided he wanted to buy a violin, and the violin appreciated tremendously too, that he bought, but not as much as the bitcoin did. So I'm aware that that was a pretty large transaction, probably two or three million dollars at that point. And interestingly, we already have two people. Serious bitcoin holders have already scheduled showings in the first week. So we are really excited by the. By the response and the interest that people have had. I think there are a lot of people with a lot of bitcoin and this is a huge opportunity to transfer some of that wealth to something very, very tangible that has been around for 100 years. It's got the best location in all of New York right on a hill overlooking the water. And that's a lot different from holding in a treasure wallet or something like that. I would like to be the first to do a $10 million transaction plus with Bitcoin. I don't know if anyone's ever done that before, but I would certainly like to be the first. I'm that bullish on it. I believe in it, and I think there'll be $10 billion transactions in Bitcoin in our lifetime. I think they were excited to open their properties up to a new type of buyer. You know, there's hundreds of billions of wealth in crypto right now, and that can be unlocked by this type of transaction being available.

The Intercontinental Exchange's Digital Asset Platform is gearing up to launch their bitcoin futures offering to the public. According to bakktk's official report, the launch of the physical bitcoin futures is set for December 12, 2018, and will trade in US dollar terms with one daily contract listing for trading on each exchange business day. However, an anonymous source told another tech outlet this week that Bakkt should get approval for its bitcoin futures as soon as next week and that they would be traded on Chicago trading shop DV trading regardless of when the futures are launched. The crypto world is holding their breath to see how the market reacts to this new addition to the marketplace, given that the launch of the albite non physical bitcoin features from CBOE and CME Group last December have led to poor returns, also leading analysts to debate their role in the market volatility that seems to arise close to their settlement dates. Elon Musk's 23 million Twitter followers might have experienced mild panic when they got radio silence from their hero, the SpaceX, and Tesla CEO was briefly locked out of his account this week. The reason? A strange tweet about anime and a jovial bitcoin reference that may or may not have more to it. It was all very musky. 8,000 likes and 3,000 retweets later, Twitter got a bit trigger happy and locked Musk out of his account, assuming perhaps that his account had been hacked. Twitter, it seems, can't take a joke. It has been speculated, in fact, that the tweet about bitcoin was in reference to false reports that his boring company was planning to accept bitcoin as payment for their FL throwers. But who knows really? It's Elon he's going to call innocent men sex offenders, fly to Mars and tunnel underneath la no matter what you say. So better to just let him get on with it really. The estate of one of my favorite rappers, the Wu Tang clan's old dirty bastard, confirmed its ODB coin will launch December 1st. It's part of a series of ISOs or initial artist offerings, basically cryptos that help artists engage with their fans. But what it made me think of is death. Death in crypto. Crypto Tales from the crypt, if you will. What happens to your bitcoin when you die? Who do you trust with your private keys? You can't simply put your private keys in your will as that eventually becomes public document. It's a legal minefield, I tell you. A subreddit titled How Would you Practically Let yout Family Inherit yout Bitcoins in case you Die? Had some pretty cool suggestions. Smart contracts with a deadman switch. If you don't ping it every two months, it sends two relatives you trust the key. But then of course there's always that one guy works great and then you wake up from your 10 week coma to find your son bought a Lambo and your wife is in Tahiti with the pool guy. We got the lowdown on what Hodlers should do in their final days from Gordon Fisher, whose job it is to help people plan their legacies.

We simply treated it like any other asset, and they've made their wishes known as to who their who they want to inherit their cryptocurrency, whether it be their spouse or somebody completely different. The worry is, are there clients who are not telling me about their cryptocurrency holdings? My advice to libertarians would be to plan ahead. You can basically cut the government out of your estate plan by doing a revocable living trust, and that would be then private. It would not go through the court process. It would be between lawyers only. Your estate plan would not be public. It wouldn't be a government record or an open record.

Can you think of any inventive ways of passing your bitcoin on after you've passed on? Let us know in the comments. And as always, like subscribe and hodl. Cointelegraph like subscribe and Hodl.

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