Buying a House on the blockchain with SBD!!! The craziest Steem investment I've made to date is NatEstate.

Well put down your drinks because this story should have a couple spit takes. I'm the second investor to help @picokernel buy a house. He's an 18 year old steemit employee living down in VA and he's going to buy a house. I heard about this plan on Discord's Steemspeak channel.

Here's the rough plan. @picokernel is going to crowd source some cash to buy to house. He's going to own a home where he can commute to Steemit. He'll buy some shares himself as part of the down payment, but he'll buy the tokens back over time!

He called the bank this morning and shared the call with the banker on the other end of the line. Fuckin' hilarious. Some highlights.

Bankster: So, where do you work?
@picokernel: Steemit
Bankster: Do you have a W2?
@picokernel: Not right now. I'm still in school, I have a bunch of bitcoin. Have you heard of Bitcoin?
Bankster: yes, I've heard of it... It's been on the news. Where do you go to school?
@picokernel: I'm still in high school.
Bankster- shit hits pants... Pause...
@picokernel: I'm raising the money, we'll be able to pay. Do you think we can make this work?
Bankster: pause... Yes I think so!!!

There is a full recording. I'll post the link in this post- https://drive.google.com/open?id=0B57iVnbv2heONHh3c19SSHdyQ0k

So, I like @picokernel. I wanted to be part of this. @fyrstikken beat me to being the first investor. But I'm the second. If you'd like to get in on this part of history contact @picokernel and chill out with us in Discord.

Here's @fyrstikken 's post- https://steemit.com/steemit-house/@fyrstikken/i-bought-the-first-shares-in-the-natestate-nest-the-first-house-on-the-blockchain-a-home-for-picokernel-in-va-co-owned-by-all-of

Here's Nate's explanation:

"So basically, I am buying a house with my own funds and some of these pre ico funds
and when I buy put a down payment on the house and officially own it, I will release the ICO and give everyone who already paid there tokens
so with these tokens, you own a share of the house
and when I sell the house, you will be entitled to a portion of whatever I sell it for
so if I buy the house at $175,000
I will issue 175,000 nest tokens
and if I sell the house at $180,000, I will buy back all the tokens for that new price
and also being a shareholder has perks because you can vote on certain things
like if we want to install a pool because we think that'll improve the value"

Here's a diagram that may help clarify the plan.

You can find more on that here: https://steemit.com/steemit-house/@mckenziegary/if-you-re-wondering-how-natestate-nest-may-work-here-s-how It was written by @mckenziegary.

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