What Causes Profitability?

August 12, 2014
/   Spotlight

Digital Insight proves that digital bankers actually drive increase engagement and profitability with their financial institution.

Cause and Effect: If you build it, will they come?

July 23, 2014
/   Spotlight

Many financial institutions assume that digital banking is lucrative because the most valuable customers happen to bank online. While there is certainly a correlation between online bankers and higher profitability, quantitative evidence suggests that...

Cause and Effect: If you build it, will they come?

/   Spotlight

Many financial institutions assume that digital banking is lucrative because the most valuable customers happen to bank online. While there is certainly a correlation between online bankers and higher profitability, quantitative evidence suggests that...

Intuit 2020 Report: The Future of Financial Services

April 11, 2011
/   Insights

Today, Intuit released the latest edition of the Intuit 2020 report, Intuit 2020 Report: The Future of Financial Services, which identifies and examines four key trend areas that will  transform the financial services industry...

Platform Shift in the Making

February 13, 2013
/   Insights

What does the banking industry as a whole have to do with Amazon, Microsoft and Apple? Just about nothing—and down the road, it may turn into a major problem (if it isn’t already). Consider...

Infographic: How to Spot a Fake Check

March 8, 2013
/   Insights

The team over at TROY pulled together an infographic on how to spot a fraudulent check. With more consumers using remote deposit capture to upload and deposit checks through their smartphones, it’s important to...

Fast Facts: Student Loans

January 22, 2013
/   Insights

The Financial Services Roundtable recently released another iteration of its Fast Facts, reliable, bullet-point research about issues facing the financial services industry. Topics span TARP, Dodd-Frank, insurance, lending, retirement savings and more.  Below are some updated Fast...

Financial Literacy Month: How are you celebrating?

March 22, 2013
/   Insights

With April approaching, it’s almost time to kick off Financial Literacy Month! Strongly supported by the United States Congress and the Financial Literacy and Education Commission, Financial Literacy Month aims to promote the importance...

Reserve Banking: The New Radical Idea

June 5, 2014
/   Insights

Banking is by nature a very conservative industry. That’s why the current buzz over ‘reserve banking’ is so interesting. Even the term seems innocuous, but the scenario it proposes is nothing short of revolutionary....

Bitcoin has been hitting the headlines a lot of late and becoming an increasingly common form of transaction.

Of course, one of the most intriguing things about the currency is the significant accumulation of worth. In the last 12 months it has hit highs of 1,000% of its 2012 value. On the way there’s been a real rags to riches story, many of which seem almost akin to the gold rush or oil prospecting of the 20th century. We’ve heard all sorts of stories of people who purchased the crypto currency a few years ago end up with millions made from a few dollars.

Along the way we’ve seen a number of people that have accumulated large sums of money, use Bitcoin to invest in property. This has led to a number of interesting and intriguing – so let’s have a look at the Bitcoin property tales.

 

Norway

Norway has done well throughout the economic malaise the rest of the world found itself in the throes of. However, it didn’t stop a Norwegian man Kristoffer Koch put $22 into Bitcoin in 2009. Mr. Koch remembered he had the assets after hearing of the dramatic rise of the currency. Turns out he had over 5,000 Bitcoins and used part of the windfall to purchase an apartment worth a quarter of a million dollars. At current levels he still has millions left over – not a bad call on a $22 investment.

North America

One of the biggest headlines we saw when the currency began making headlines back in March was that of Taylor More. More sold his him for $400,000 in Bitcoin – he received around 5,750 Bitcoins at a cost of around $60 a coin. It was a risk at the time but it’s paid off handsomely and the coins are worth a lot, lot more than the price of the home now. It was a very quick thinking, smart move but a gamble nonetheless. These new millionaires with appreciating assets are the sort of people who can help to buy your house.

China

China has really taken Bitcoin to its heart – well until recently that is. The Chinese government has stopped its banks from trading the crypto currency and is becoming increasingly stringent on its use. However, before things went a little downhill, the Chinese were investing in Bitcoin and also real estate.

In fact, one real estate development could be purchased in Bitcoins. The Shanda Group was offering Chinese people the chance to purchase apartments from its 300 unit block for one Bitcoin to 1,000CNY. This resulted in plenty of Chinese offloading Bitcoins and though the value of the Bitcoins went up afterwards they have fallen since and the developer will have lost out significantly. It’s a quite obvious showing of the gamble Bitcoin investment is.

However, it was a bit of a watermark moment as it was the first time the currency was used en-mass to purchase property.

 

Bitcoin is an interesting idea and one that’s set to cause plenty more news in the property market and also in the world of finance and investment. It’s been used for a number of interesting areas and though it may not be the future of money, it’s certainly intriguing nonetheless.

 

Cormac Reynolds has written for a number of sites and is a strong believer in Bitcoin and it as a means of transaction for property among other areas.  

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Compelling voices and contributed content from around the web

Brad Strothkamp

http://www.forrester.com/rb/analyst/brad_strothkamp

James W. Gabberty

Gabberty is a professor of information systems at Pace University in New York City. An alumnus of the Massachusetts Institute of Technology and New York University Polytechnic Institute, he has served as an expert witness in telecommunication and information security at the federal and state levels and holds numerous certifications from SANS & ISACA.

Marisa Mann

Marisa Mann brings over 15 years of experience in consulting and financial services industries to the Solstice team, working on large scale enterprise initiatives across many technologies, including specializing in the digital space – Internet and mobile. Mann is passionate about mobile and the endless possibilities for the enterprise, delivering business value through strong brand recognition and driving to excellence in the consumer experience. Prior to Solstice, Mann worked at JP Morgan Chase, Diamond Management and Technology Consultants, Washington Mutual, Inc, and Accenture.

Zachary Ehrlich

25-year-old writer, and as a native San Franciscan, I am unreasonably loyal to Bank of America, if only for their superhero-like origin story, involving the 1906 earthquake and Italian fruit vendors.