Bitcoin Builder

Bitcoin hodler since May 2017
Building for harsh Australian conditions.

[Bitcoin Builder @BuilderBitcoin]

Here's a spreadsheet that I will update with costs as they occur.

https://t.co/UK9uZ8UPys

[Bitcoin Builder @BuilderBitcoin]

NSW covid restrictions lifted and plans have been approved by council. Hoping for a January start.

[Bitcoin Builder @BuilderBitcoin]

@muzzrx @fold_app 🤦‍♂️

[Bitcoin Builder @BuilderBitcoin]

If @fold_app were available in Australia, I would use the premium card to pay all the trades and suppliers with the card and earn #bitcoin rewards. 😔Receiving #bitcoin rewards an the GST component is appealing.

[Bitcoin Builder @BuilderBitcoin]

*on

[Bitcoin Builder @BuilderBitcoin]

@ODB______Suuuuu Although I am in Australia unchained did offer to help. However, in my mind, private lending is way simpler providing a trusted third party can be agreed on. Time will tell.

[Bitcoin Builder @BuilderBitcoin]

I have a private lender lending $150k 12 months with bitcoin collateral 50% Interest payable at the end and market to market. We have agreed on a trusted 3rd party and 2-3 multisig.

[Bitcoin Builder @BuilderBitcoin]

@nonamedlish 2/

We'll work up a simple agreement for the trusted third party to work with in the event it is called on.

There's nothing too elaborate, we are just testing waters.

[Bitcoin Builder @BuilderBitcoin]

@nonamedlish 1/ I would not use HodlHodl until they release their app that allows recovery if the platform is down.

Luckily I have a friend in the finance industry who suggested he may have an individual lender. After negotiation, an agreement has been worked out.

[Bitcoin Builder @BuilderBitcoin]

@nonamedlish You are correct.

I have a private lender lending $150k for 12 months with bitcoin collateral at 50%. The interest of 12% will be payable at the end of the loan period and market to market. We have agreed on a trusted 3rd party and 2-3 multi-sig.

[Bitcoin Builder @BuilderBitcoin]

I'll add the costs of tools purchased specifically for the project. Jack Hammer AUD$165 USD$127

[Bitcoin Builder @BuilderBitcoin]

Final construction drawings. Will be lodged for approval tomorrow. Cost of drawings AUD$2,500 USD USD$1,900

[Bitcoin Builder @BuilderBitcoin]

@dannyyliang @hodlhodl We are building and wanting to avoid bank lending during the build like the plague. Raising finance via a bank to build is a time-consuming nightmare and then requesting progress payments is another nightmare. Finance via hodlhodl will be a walk in the park by comparison.

[Bitcoin Builder @BuilderBitcoin]

The best rate on @hodlhodl today that I could find is APR 70% for 30k. Way out of the ballpark for this project.

[Bitcoin Builder @BuilderBitcoin]

When the build is complete, rent the home, mortgage to the hilt. Pay of btc loan. Buy more bitcoin with surplus.

[Bitcoin Builder @BuilderBitcoin]

Ideally, financing the build with bank finance would be a preferred option. However it's bordering on impossible for an owner builder to be approved. Also if it was, banks would be painful to deal with during the build. Less stress with a btc collateral loan.

[Bitcoin Builder @BuilderBitcoin]

Planning to use https://t.co/NMArZJoyE4 to fit out the kitchen & laundry. Estimate total $12k We have used them before, very good.

https://t.co/YWRMeetJZl

[Bitcoin Builder @BuilderBitcoin]

If we complete this project in under 6 months and have more #bitcoin at the end. We'll consider it a success and repeat.

Beats watching Netflix.

[Bitcoin Builder @BuilderBitcoin]

@PachecoJeduardo Yes, I moved the build project to this twitter account.

[Bitcoin Builder @BuilderBitcoin]

I'm borrowing on bitcoin to build a house, I'll be publishing financing and building progress via this twitter and a website I'll put online. You are invited to follow if interested in progress.