NBA Draft Prospect Jonay Porter is Also a Crypto Fanatic

One of the NBA’s latest prospects is Jontay Porter. The 18-year-old has high hopes for the future. Firstly, of course, he’s wanting to be picked in June’s draft. Secondly, he’d love to help his team, the Missouri Tigers, win the NCAA Tournament that they’re competing in. Finally, he’s hoping for a big rebound off the court – in the cryptocurrency market.

An Enterprising Young Mind

In a recent interview with the Kansas City Star, the young NBA hopeful spoke of his interest in cryptocurrency and how he himself was invested in Bitcoin, Litecoin, Ethereum, Ripple, and Tron. He told the publication about how he approached putting together his diverse crypto portfolio:

“I did my own research, obviously; that’s what you should always do if you’re investing… I’m obviously not going to put all of my money in cryptocurrency.”

He started by buying $300 worth of Bitcoin. This was followed by smaller purchases of more crypto assets using his student-athlete allowance.

Unfortunately, the Tigers’ leading rebounder was forced to cash out some of his investment. He explained to the Star how he had been bought a used SUV by his parents. Owing them the money back and with no way to pay it yet, he was forced to sell half of his crypto assets. He was, however, careful to keep some skin in the game as he’s optimistic of a rebound in the markets:

“I was kind of sad, because [the market] was about to bounce back. But my mom needed it right away.”

Missouri Tigers’ assistant coach and father of the budding basketball star turned investor, Michael Porter Sr., told the publication about his son’s inquisitive mind. He said, “he’s  always been a thinker.” Meanwhile, Lisa Porter, the teenage athlete’s mother added:

“He had the gumption to just do it… All my other kids would really debate over it.”

From a young age, Jontay had an inquisitive mind and sought ways to turn that into financial gain. In the Sixth Grade, he started dismantling, repairing, and jail-breaking his iPhones. This transformed into something of a business. He’d advertise his repair services for cracked screens and the like on CraigsList. He always made sure to undercut the local businesses offering the same services in his town.

Of course, Jontay Porter isn’t the first athlete to embrace cryptocurrency. The US Winter Olympic luge team famously declared that they’d accept Bitcoin donations for their medal challenge this year. Unfortunately, Olympic rules prohibited the team from wearing any Bitcoin branding on their official uniforms. This is a real shame too as the event was held in crypto-loving South Korea and had the whole world’s eyes upon it.

All of us at here NewsBTC are hoping that Jontay Porter is successful in his bid to make the big time as an NBA star. He’ll certainly become one of the higher-profile proponents of Bitcoin if he does. Hopefully, he won’t be shy about plugging his investment interests in his post-match press conferences too!

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Over the past few months, several countries including Iran, Venezuela, and China have either announced their plans to launch national cryptocurrencies or already conducted initial coin offerings (ICOs) to introduce a state-backed digital currency.

In late February, Venezuelan president Nicolas Maduro claimed that Petro, the oil-backed cryptocurrency operated by the country’s government, raised $735 million from investors. A few weeks later, in an interview with a local mainstream media outlet Telesur, President Maduro stated that Petro generated $5 billion from 186,000 certified purchases.

Inspired by the success of Venezuela’s Petro ICO, the Iranian government, which is currently dealing with heavy international sanctions, revealed that it has begun the development of a cloud-backed cryptocurrency. Iranian Information and Communications Technology Minister MJ Azari Jahromi said that the country will “implement the country’s first cloud-based digital currency using the capacity of the country’s elite.”

However, all national cryptocurrencies including Petro and the digital currency of Iran, are not decentralized by nature unlike public blockchains and cryptocurrencies like bitcoin. Vitalik Buterin, the creator of Ethereum, previously expressed his concerns in regards to the centralization in ICOs, which are launched on top of a decentralized blockchain in Ethereum.

“I think many of these flaws arise from the fact that even though the ICOs are happening on a decentralized platform, the ICOs themselves are hardly centralized; they inherently involve many people trusting a single development team with potentially over $200 million of funding,” Buterin said in an interview with South Korean mainstream media outlet JoongAng.

Hence, even the Venezuelan Petro, which is supposedly an ERC 20 token launched on top of the Ethereum protocol, is centralized to a certain extent.

At the Genesis London conference held in the UK, bitcoin developer and applied cryptography consultant Peter Todd stated:

“Basically all currencies are digital currencies — the ultimate ledger of truth in currency systems is nearly always digital. Maybe some terrible backwards country like North Korea might be keeping it all on paper but if you go to most places in the world, it’s going to be digital records. So most places have digital currencies already. Equally, most places you can transfer money digitally. Cryptocurrency is not about being able to move money digitally, it’s about auditing. In the case of decentralised cryptocurrency, it’s about the ability to move money and audit it without permission. But when you’re talking about a government currency, obviously there’s permission, a central authority and control — end of story.”

Public blockchains or cryptocurrencies can be easily audited, primarily because transaction data and financial information are stored on a public ledger that can be accessed transparently by anyone within the network.

As such, while national digital currencies are branded as cryptocurrencies and decentralized networks, structurally and fundamentally, they do not have any significant difference with existing systems based on fiat currency.

“So the cryptocurrency part of it is about giving people better ability to audit what happened, audit what the supply is and audit what the transactions are. I think, in reality, a lot places don’t really care about that. Does even the government of Canada care about giving people the ability to audit the money supply? Probably not as much as you’d think,” Todd explained.

It’s the last chance to get a massive 58% bonus by participating in the ZeroEdge pre-ICO. Not only are they offering huge discounts to their first contributors, they’re hoping to shake up the entire online casino industry too!

Zero House Edge Means You’re More Likely to Win

ZeroEdge isn’t just a cool sounding name. They’re trying to build an online casino with literally zero house edge whatsoever. You’ve probably heard the phrase “the house always wins before”. Well, with ZeroEdge, they don’t anymore.

Traditionally, casinos make their money without the need for fees. Instead, they rig the games in their favour. It’s not exactly cheating because somewhere in the small print all the maths is all explained. It does guarantee the casino makes profits and punters lose over time though.

ZeroEdge hope to change this. Their business model is simple. When presented with a choice between a casino that takes a 1-10% edge on all games and one that has absolutely no house edge, the customer will always pick the latter.

The company plan to reward holders of their tokens by making sure that the supply of them is fixed at 686,940,000. With such high demand for fair gambling games, the value of these will naturally increase and reward the platform’s earliest contributors.

On the ZeroEdge platform will be sports betting without a commission, casino games without a house edge, and poker without the rake. With other blockchain casinos such as Edgeless getting legal recognition lately, it could be a great time to get involved with gambling ICOs!

ICO Details

As mentioned, the pre-sale of the ICO will end on 15/03/18. This only gives you a few more hours to take part. In terms of contributions, the initial funding round is already 80% complete.

The pre-sale will give contributors a massive 58% discount on final rate of the ICO. During this phase 60,040 ZERO tokens will be given for every 1 ETH sent to ZeroEdge. This will decrease to 24,000 ZERO tokens in the final phase of funding.

After the pre-sale is over, contributors will still be eligible for discounts. These will be divided into two-week blocks until the end of the sale on August 1. The discounts for each sale period will be 15%, 10%, and 5%. During final two weeks, the rate will be 24,000 tokens for every 1 ETH contributed.

If the idea of zero percent house edges appeals to you, why not head over to ZeroEdge’s website and have a look at their whitepaper. Be quick if you want to take advantage of the great pre-sale savings though.

Key Highlights

  • Ethereum classic price declined heavily and moved below the $20 and $18 supports against the US dollar.
  • There is key connecting bearish trend line forming with resistance at $18.00 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
  • The pair could rise in the short term but it may face sellers near $17.00 and $18.00.

Ethereum classic price tumbled sharply against the US Dollar and Bitcoin. ETC/USD is now trading well below $18.00 and it remains at a risk of more losses.

Ethereum Classic Price Decline

There was no upside move above $21.00 during the past few days in ETC price against the US dollar. The price started a downside move and traded below the $20.00 handle. The downside move was strong as the price even failed to hold the $18.00 support level. It is now trading well below the $18.00 pivot level and the 100 hourly simple moving average.

The recent low was formed at $15.66 and it seems like sellers are here to stay. If there is a correction, the price may face sellers near the 23.6% Fib retracement level of the last decline from the $21.73 high to $15.66 low. There is also a key connecting bearish trend line forming with resistance at $18.00 on the hourly chart of the ETC/USD pair. The same trend line is near the 38.2% Fib retracement level of the last decline from the $21.73 high to $15.66 low. Therefore, the $17.00 and $18.00 levels are seen as crucial barriers for buyers in the near term.

Ethereum Classic Price Technical Analysis  ETC USD

On the downside, the price could break the recent low of $15.66 and test $15.00. The overall bias is bearish on BTC, ETH, XRP and all major cryptocurrencies.

Hourly MACD – The MACD for ETC/USD is not showing any signs of a recovery.

Hourly RSI – The RSI for ETC/USD is slowly rising from the oversold levels.

Major Support Level – $15.00

Major Resistance Level – $18.00


Charts courtesy – Trading View

When crypto markets plunge towards another monthly low some assets will fare better than others. As usual big daddy Bitcoin has led the way and when it shed 14% over night the outlook for all others appeared grimmer. Ethereum has fared badly this time falling harder and faster than usual.

Ethereum, which usually fares well during major downturns, has taken a particularly painful slide over the past couple of days. This could well be a result of the ICO and crypto advertising bans by internet monopolies Facebook and Google. ETH has also become the second cryptocurrency of choice for trading altcoins after Bitcoin so when panic selling on altcoins overwhelms the markets, Ethereum will suffer.

Ethereum ICO Boost Slows

Ethereum has been the platform of choice for the majority of ICOs over the past year. When they are heavily regulated Ethereum takes a beating, likewise if avenues of advertising are closed off to startups looking for exposure for their blockchain projects. ICOs have come under heavy scrutiny from regulators across the globe, principally due to their methods of raising capital.

In order to protect citizens from scams and fraudulent practices governments have put the kibosh on unfettered ICO promotion and marketing. Social media and web giants have followed suit though their motives remain questionable.

Google for instance, up until very recently, still permitted rogue ads linking to mining malware and phishing websites to run on its platform yet wants to ban all crypto advertising later this year. Facebook still allows deceitful member accounts to disseminate clickbait and scams yet banned ICO advertising a couple of months ago. It has also been speculated that Twitter, another social platform allowing fake accounts, could be the next to ban crypto advertising.

ETH Heading for Three Month Low

ETH has reached its lowest point since early December when a huge rally sent it from around $475 to $700 in a matter of days. Currently trading at just under $585 Ethereum has hemorrhaged 16% in the past 24 hours, over the week ETH has lost over 20%, and over a month it is down 37%.

Ethereum has broken several major support levels and continues to slide at the time of writing. If the rout continues it could well head back to late November levels around $450. Looking at the brighter side, in March 2017 Ethereum was less than $40, however if it gets anywhere near that again a lot of investors will have lost a lot of money over the past 12 months.


Indonesia Digital Asset Exchange, or INDODAX — the largest Indonesian cryptocurrency exchange — is set to bypass the nation’s century-old stock exchange in the number of users. According to Chief Executive Officer Oscar Darmawan, INDODAX, formerly known as, will have 1.5 million members buying and selling digital currencies like Bitcoin, Ethereum, and Ripple by the end of the year.

The platform, which went live in 2014, currently has 1.14 million users. This is in contrast to Indonesia Stock Exchange, which offers stocks, futures, and exchange-traded funds and has only 1.18 million registered participants, according to data from the Indonesia Central Securities Depository.

“We are seeing almost 3,000 new members signing up everyday,” Darmawan said. “Most people are trading in Bitcoins though transactions in Ethereum has increased significantly of late.”


As of today, the platform is undergoing a rebrand, changing its name from to the Indonesia Digital Asset Exchange or INDODAX. Darmawan said that one of the reasons for relabeling the exchange was to reaffirm the company’s position as a digital asset exchange:

“Many people recognized us as a payment system using Bitcoin. In fact, we didn’t intend to have such payment system,” Darmawan said in a press conference today at the Kempinski Hotel in Jakarta.

The exchange is currently focused on the rebranding project, and Darmawan has claimed the transaction and company structure will not be affected during the process, assuring the exchange’s users that they will not experience significant negative impacts: “We guarantee our members won’t be affected because we’re conducting the rebranding process smoothly,” he said.

That said, Oscar was reluctant to detail the process(es) involved with INDODAX legal structure during the rebranding. “We’ll release our official statement after it’s all done. The process is underway now,” he concluded.

Bank Indonesia

Earlier this year, Bank Indonesia took a firm stance against cryptocurrencies. The bank announced that it does not deem digital currencies legal tender, and urged all parties to refrain from owning, selling, or trading in them. The move highlighted the challenges currently faced by regulators across the globe as they seek to manage the potential risks associated with cryptocurrencies, but often don’t have the means to out-right ban their use. 

“Owning virtual currencies is very risky and inherently speculative,” the central bank said in the January statement. Saying, “digital tokens are prone to forming asset bubbles and tend to be used as method for money laundering and terrorism funding, so it has the potential to affect financial-system stability and harm the public.”

With INDODAX set to overtake Indonesia’s stock exchange in users, it’s not clear whether many of the country’s citizens have heeded to Bank Indonesia’s warnings. 

My previous longer article was about the January Miami BTC conference and the promised follow up is Al Capone style criminally overdue. The event moved at breakneck speed and had such a driven, positive vibe. Dealing with the atomic aftermath took till now to become a cohesive-ish write up. In short, the journey was a f**k yes, as I tend to vulgarly state in social occasions seemingly inappropriate for the expression. I’ll keep this punchy.

Coming To My Senses

Having scored the perfect Airbnb place 5 minutes from the conference center (actual balcony view pic below), I was pumped to get going but jet-lagged beyond available bodily resources. Getting everything ready for a two fair trip, including an overnight ‘stay awake painting’ just before the flight, took its toll. The free flow whiskey pouring by my generous hosts was a welcome edge smoother but not too many before a 48hr crypto sprint. Right? The fleeting pleasure of alcohol was replaced by a sauna, jacuzzi, and a city view pool. I realised also that I was staying with people who run a high-end print place. This trip is going to roast like a Run The Jewels track.

Being new to blockchain conferences, the hunger for the next new thing felt all around was inspiring. No joke. The integration solutions to the ‘real world’ in service prospects or made human connections were a much-needed chilli infusion for the brain. Much respect for Keynote for sponsoring the booth and helping me get physically visible in the scene.

Out of talking so much, my voice blew out halfway conference. At one point I got badly distracted from talking to a Coin Telegraph guy due to another conversation starting with a couple who represent the graffiti artist Banksy. Apologetic as I was about it to him upon this dawning on me, it was a good problem to have. It felt like being able to charge my phone from the surrounding air alone.

Your Vibe Attracts Your Tribe

The buzz around my booth gave me a sense that I’m really onto something with crypto art. It’s nothing short from being able to tell the story of a vast societal change in visual form. To uniquely communicate it to insiders and outsiders alike. One of the chance encounters was Eben Pagan popping by the space with his lovely wife Annie Lalla. It was a strange moment, as I must have spent thousands of hours with his material since 2004 and he hadn’t a clue the other way around. I rarely loose my cool but embarrassingly enough, this was one of those times. Appropriately so I think.

Far too many memories struggling with childhood trauma, depression, figuring out relationships and finding my way in life in general came flooding in talking to him. During those times, the abundance of value Eben delivered to my life through video seminars was a 100% unparalleled. There is no way my other platform Artevo, the LUX project nor my engagement would have happened without the influence his work had on me.

Some people in the crypto space, who think Lambos are the answer, could greatly benefit from his ‘ManTransformation’ program for example. There is a bunch of millionaires within the community still living their ‘Sweet 16’ at 30 and beyond – during global crisis times. Some really need to wake the hell up to smell the ‘more to life than a bit of money’ monologue. As he came to my booth space, I interrupted him eating a sandwich by asking: “Eben Pagan. What are you doing here?” He simply replied: “I’m eating”. Glad to know he is into crypto and I’ll make a better first impression next time.

Eben, Annie and their daughter in Miami.

The Emerging Collector Class

The nr.1 “T(r)opical – Gold Edition” piece, central to the booth picture, was sold to the striking model Gabriella Katia and her entrepreneur husband Matt Crown via Litecoin. By chance encounters, the three of us would all later on end up at a club for a night out. I’d spent a full month working my ass off to be ready for the trip and the official business of the conference was done. It was time to let loose before the coming AFL fair.

Matt & Gabriella

The other awesome person at the afterparty, clearly responsible for me drinking straight from the vodka bottle at the end of the night, was my new collector Michael Jonsson. After mentioning this personal responsibility disclaimer I can admit to literally waking up with my boots still on the following morning. A true flashback to some 20 years ago at a University party in Newcastle. We decided to meet up on Miami Beach for some breakfast to follow up.

His Bitcoin 1/1 piece “Unblocked” is now safely in Toronto being float framed.

A Worthy And Relevant Sidenote

The whole trip was quite an investment so could’t hodl all the benefits. Now if only Coinbase would sort out their customer service I could actually use the converted money trapped behind their non-service lines. Anyone else have this with them or just me?

Bit rude to hold someone else’s money for over a month, not reply to emails and then ask them to ‘rate their service’ – if you are really asking. The survey request was two weeks ago and I’m yet to hear back from them. Ok. Enough complaining. Still with me? Golden nudity ahead.

A 5m$ Home Full of Art Anyone?

Next up was the Tranter-Sinni Gallery organised participation with Art Fort Lauderdale. This fair was our first collaboration with the gallery. They had a few of my large Artevo pieces in their multi-million dollar homes loaded full of art, facilitated a keynote spot and a temperature rising performance at the W Hotel titled ‘Kintsukuroi’.

Watch the performance here

It was rejuvenating to be in front of people performing again so felt it best midway through to drown my suit in gold paint, with a little help from a fellow performer Dayanis Mondeja.

Much love also to the phenomenal dancers of the other performance Carlos Torres and Evelyn Robaina. They did a more classical dance performance version of the same theme. The passionate professionalism of all three performers blew me away. Thanks also for Alexis Espejo at W Fort Lauderdale for facilitating this madness. The plan is to repeat these at crypto conferences all over the world. It’s appropriate as the blockchain is helping to fix money.

Youtube here.

Mom, I’m on TV.

The below segment of the Deco Drive TV show features the Artevo works, the houses and quite prominently, the back of my head. Both Evan Snow and Andrew Martineau did an ‘all in’ job getting this whole fair organised so props to those guys for pulling it off. Bring on AFL 2019.

Watch it here

Crypto Giveth and Crypto Taketh Away

And will likely soon giveth again. Some of you might have seen the previous announcement for the crypto art tour with 4NEW as the primary sponsor. Unfortunately, the recent events in crypto forced them to focus on their live ICO for now, so the mentioned tour is now open for a new main sponsor. 

I’ll be attending the crypto investor show this coming Saturday here in London regarding this. The tour is ready to take off and everything is in place with regards to the gallery and most locations. All that is needed is a funder ready to make some international waves with guaranteed traditional and blockchain press. On April 18th at 5pm I’ll also be presenting at the Ethereum London slot of the London Blockchain conference. Big ups for Stephan Tual for giving me my first crypto keynote opportunity. More to come this year as this fresh speaker page suggests.

2018 is going to be a massive year for me personally and about as exciting as it gets for crypto. None of the people, organisations or businesses in this article have paid to be mentioned. In case you are wondering if what you just read was news, promotional, a blog or something else, all I can say is that I don’t represent legacy media.

This is  the circle of transparent good stuff.

 V E S A
Visual Artist
London / Helsinki

Key Highlights

  • Ethereum classic price is finding it hard to hold a major support at $20.00 against the US dollar.
  • There are two key bearish trend lines forming with resistance at $21.00 and $23.00 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
  • The pair must break above the $23.00 resistance and settle above the 100 hourly simple moving average.

Ethereum classic price is struggling to recover against the US Dollar and Bitcoin. ETC/USD has to move above the $21.00 and $23.00 resistances to gain upside momentum.

Ethereum Classic Price Resistance

There was no substantial recovery above $24.00 in ETC price during the past few days against the US dollar. The price tested the $16.50-20.00 support zone on many occasions, and succeeded in avoiding declines. It is currently trading just above the $20.00 and is consolidating losses. It seems like the price is finding is very hard to recover above the $21.00 resistance area in the short term.

On the upside, there are two key bearish trend lines forming with resistance at $21.00 and $23.00 on the hourly chart of the ETC/USD pair. The 23.6% Fib retracement level of the last drop from the $31.18 high to $19.61 low is near $22.34 to act as an intermediate resistance. Once there is a proper break above $22.35 and $23.00, there could be more gains. The next resistance could be around 50% Fib retracement level of the last drop from the $31.18 high to $19.61 low around $25.40.

Ethereum Classic Price Technical Analysis ETC USD

Moreover, the 100 hourly SMA is sitting near $21.00. A break above the $21.00 level and 100 SMA could be a positive sign in the short term. On the downside, the price has to stay above $20.00 and $16.50 to avoid further declines.

Hourly MACD – The MACD for ETC/USD is mostly flat in the bearish zone.

Hourly RSI – The RSI for ETC/USD is currently moving higher towards the 50 level.

Major Support Level – $20.00

Major Resistance Level – $23.00


Charts courtesy – Trading View

Mining cryptocurrency is a huge business. Just last year, Beijing-based crypto-miner Bitmain made over $3 billion dollars in profits. In a novel approach, French startup Qarnot is helping everyday consumers get involved, and the company is doing so by utilizing something that’s usually regarded as a (big) problem for cryptocurrency miners: heat. By harnessing the heat graphics processing units (GPUs) generate while mining, Quarnot’s QC-1 crypto heater keeps users warm and mines cryptocurrency at the same time.

According to Qarnot, the QC-1 takes just ten minutes to set up. It connects online via an Ethernet cable, and owners can monitor its mining progress or activate a heating booster using a companion app. Also of note: the manufacturer doesn’t take a cut of the cryptocurrency the QC-1 mines.

“The heat of your QC-1 is generated by the two graphics cards embedded in the device and mining cryptocurrencies or blockchain transactions: While heating, you create money,” the QC-1 product description reads. “You can watch in real time how crypto markets are trending, on your mobile app and on your QC-1 LEDs.”

The QC-1 crypto heater is a wall-hanging unit that looks like a black radiator adorned with a grill and wooden top. Housed inside are two AMD NITRO+ RADEON RX 580 GPUs. By default, the unit mines Ethereum, but users can direct the device to mine other cryptocurrencies too.

The company estimates their crypto heater can mine an average of $120 worth of the coin per month. The problem is that the rig costs €2,900 ($3,570). Looking at the math, users will have to run the QC-1 all day every day for more than five years before it pays for itself (as per current Ethereum prices). 

Crypto Heaters

The QC-1 isn’t the first device of its kind. Russian startup Comino sells two similar mining rigs that double as heaters: the Comino N1, which mines Ethereum, and the Comino N4, which mines Zcash. Both sell for €4,999 ($6,150).

It’s worth remembering that devices like these can only mine cryptocurrencies — they doesn’t include a hard drive or an operating system, so no gaming or emails. And considering that the QC-1 costs almost $3,600, one could theoretically just buy a high-end gaming PC with two comparable cards inside and set them up for cryptocurrency mining.

That said, as a proof of concept the QC-1 is certainly notable. Using excess heat from cryptocurrency mining to provide heat for users is a great idea. Mining generates a tremendous amount of heat and putting it to good use could help make the idea of mining cryptocurrency more approachable to mainstream consumers. 

The first US property will be sold entirely through a blockchain transaction on Ethereum  in South Burlington, Vermont, putting the city on the map as a “global blockchain leader.”

Ethereum Used for Real Estate Deal

South Burlington, Dubai and Kiev are all part of a pilot program with global blockchain-based real estate marketplace Proppy inc. who handled the transaction.

Katherine Purcell signed off on the transaction in late February through the San Francisco based Proppy which uses the Ethereum network to transact and record all contracts and documents instead of the city’s record system. Vermont is the first state in the US to allow this type of transaction.

Purcell spoke to Inverse,  saying she was a little nervous about making the deal but also excited.

“This type of technology excites me. Its encryption capabilities are top of the line in terms of keeping deeds and other documents safe.”

While this was the first Blockchain based transaction in the U.S. for Proppy they made the first blockchain based real estate transaction in the world last year. In October 2017 Techcrunch founder Michael Arrington who also sits on the board at Proppy remotely purchased an apartment in Kiev, Ukraine.

This is the first step in a planned real estate take over said an anonymous source at the real estate marketplace. “This first deal makes it much easier for the rest of the 49 states to iterate the process,” the source told Zero Hedge. ‘In fact, Arizona and Colorado are next.”

Proppy took in about $15 million when it launched the ICO of its PRO token which is today trading at around a dollar.

Real Estate Will be Blockchain Based Soon

While this may be the first U.S. real estate deal completely transacted using blockchain technology it is not the first real estate sold using cryptocurrency in the US.

Newsbtc reported on Michael Komaransky, an early player in the bitcoin market when he sold his Miami mansion for 455 Bitcoin in what at the time was being called the most expensive Bitcoin to Bitcoin real estate sale ever.

The first also conducted in Miami was when Ivan ‘Pay checks’ Pacheco paid 17.741 Bitcoin, the equivalent of $275, 000 for a condo. Both of these sales were Bitcoin to Bitcoin only, meaning that there was never any conversion to fiat currency (US Dollars Etc.) in the transaction.

Though many would still shy away from making large real estate deals in cryptocurrency due to the volatility of the market the trends towards conducting the deals using blockchain technology is only beginning according to Proppy.

“The people from Proppy were fantastic to work with, I’ve been reading that this tech is perfect for certain types of transactions. Real estate is one of them,” said buyer Katherine Purcell about her experience.