[ExI] i miss intrade

[Mirco Romanato]

Il 24/11/2013 15:57, spike ha scritto:


> This was a huge issue in 1989 when we were having an enormous land boom in
> the SF Bay Area California.  The game was to advertise a home for sale at a
> certain price.  The inventory was low and the prices were going up every
> day.  So the game was to advertise the home, the owner would get scarce for
> a week or two, people would overbid, owner returns, goes thru a pile of
> bids, picks out his favorite, house sells for 20 or 30k over asking price.
> At Lockheeed, a group of engineers pooled their funds, hired a real estate
> specialist, rigged up a cell phone with a laptop computer (hot new tech in
> 89) had him drive around, then when a new property came on the listing, he
> would look up in a database and find its value, then show up within minutes
> with a suitcase full of cash the exact amount the owner listed, along with
> an implied threat that if the owner failed to accept the cash, it would be
> evidence he was refusing on some racial basis (the agent was African
> American.)  In most cases, the owner would sell on the spot, the buyer group
> could resell for 20 to 30k more the next day.  The group was making money
> hand over fist.  Then the earthquake hit.

Well, it was like HFT in the real estate market, just a lot more honest
compared to what G&S do everyday; you didn't need to cheat to win.
Yours just were faster than others to find the bargains.

> In the meantime, they realized it was a huge risk to have a person going
> around with a quarter of a million dollars cash in a briefcase.  He wasn't
> doing anything illegal.  But had they known, the authorities would likely
> have figured out some way to seize all that lettuce.  As it turns out, the
> group doubled its money in about 5 months, from June 1989 to October 1989.
> I wasn't in on that.  But it caused a change in the way people sell houses
> during a land boom.  We are in another one of those now.  If a person goes
> to sell a house, they need to be absent when the home goes on the market, in
> some place they cannot be contacted or found for a couple weeks.
> 
> It will be interesting to see what happens when the first land transaction
> happens in BTC.

It depend on if the RE agent have control of the BTC directly or not.
I would suggest to have the RE agent to just contact the seller and, if
it accept to sale and the price, someone at home give him the coins
needed. So he can not be kidnapped and forced to give up the money by
random highway men (usually uniformed).

It would be interesting if the Bitcoin to buy RE start to come from
China or some other place like it.

Mirco