{"id":11591,"date":"2019-12-10T12:52:22","date_gmt":"2019-12-10T17:52:22","guid":{"rendered":"https:\/\/www.renthop.com\/content-manager\/?p=11591"},"modified":"2023-07-22T11:36:39","modified_gmt":"2023-07-22T15:36:39","slug":"renthop-bitcoin-appreciation-exceeds-boston-and-chicago-profits","status":"publish","type":"post","link":"https:\/\/www.renthop.com\/blog\/renthop-bitcoin-appreciation-exceeds-boston-and-chicago-profits\/","title":{"rendered":"RentHop BitCoin Appreciation Exceeds Boston and Chicago Profits"},"content":{"rendered":"\n<p>In December 2013, <a rel=\"noreferrer noopener\" aria-label=\"RentHop.com began accepting BitCoin (opens in a new tab)\" href=\"https:\/\/www.renthop.com\/blog\/2013\/12\/renthop-now-takes-bitcoin\/\" target=\"_blank\">RentHop.com began accepting BitCoin<\/a> as a form of payment for landlords and real estate brokers to advertise apartment listings.  The company <a rel=\"noreferrer noopener\" aria-label=\"initially offered a 60% discount (opens in a new tab)\" href=\"https:\/\/therealdeal.com\/2013\/12\/16\/renthop-offers-discount-for-advertisers-paying-in-bitcoin\/\" target=\"_blank\">initial<\/a><a href=\"https:\/\/www.coindesk.com\/new-york-property-firm-steep-discount-bitcoin-payments\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"l (opens in a new tab)\">l<\/a><a rel=\"noreferrer noopener\" aria-label=\"initially offered a 60% discount (opens in a new tab)\" href=\"https:\/\/therealdeal.com\/2013\/12\/16\/renthop-offers-discount-for-advertisers-paying-in-bitcoin\/\" target=\"_blank\">y offered <\/a><a rel=\"noreferrer noopener\" aria-label=\"a  (opens in a new tab)\" href=\"https:\/\/www.coindesk.com\/new-york-property-firm-steep-discount-bitcoin-payments\" target=\"_blank\">a <\/a><a rel=\"noreferrer noopener\" aria-label=\"initially offered a 60% discount (opens in a new tab)\" href=\"https:\/\/therealdeal.com\/2013\/12\/16\/renthop-offers-discount-for-advertisers-paying-in-bitcoin\/\" target=\"_blank\">60% discount<\/a> off the prevailing USD to BTC exchange rate to encourage adoption of the new technology, and RentHop co-founder Lawrence Zhou pledged to hold the majority of any BitCoin received for the long term.<\/p>\n\n\n<p>&nbsp;<br>\n<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-10201\" src=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2013\/12\/wally_homepage_btc-Copy.png\" alt=\"\" width=\"324\" height=\"100\"><br>\n&nbsp;<\/p>\n\n\n<p>By using CoinBase as a payment processor from 2013 until early 2017, RentHop accumulated a modest stash of BitCoin from tech savvy real estate agents.  The price remained relatively stable averaging $500 through most of the 3 years.  When crypto prices appreciated drastically in 2017, the company holdings increased over 3500% at the peak in December 2017.  Even today, the largely untouched account has paid off tenfold, even after accounting for the initial 60% discount to customers.<\/p>\n\n\n<p>&nbsp;<br>\n<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-10201\" src=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2019\/12\/image-9.png\" alt=\"\" width=\"624\" height=\"336\"><br>\n&nbsp;<\/p>\n\n\n<p>Zhou remains optimistic on BitCoin&#8217;s future significance and intends to ride through the recent market volatility.  On balance, the company&#8217;s decision was a huge victory, attracting a tech savvy user base, streamlining transactions using crypto currency protocols, and accumulating a large but unrealized profit from the appreciation.<\/p>\n\n\n\n<p>As a comparison, <a rel=\"noreferrer noopener\" aria-label=\"RentHop Boston launched in 2012 (opens in a new tab)\" href=\"https:\/\/www.americaninno.com\/boston\/say-so-long-to-craigslist-renthop-has-expanded-to-boston-revamping-the-apartment-search\/\" target=\"_blank\">RentHop Boston launched in April 2012<\/a> serving both No Fee and Exclusive apartment rentals in Cambridge and Greater Boston.   <a rel=\"noreferrer noopener\" aria-label=\"RentHop Chicago launched four months later (opens in a new tab)\" href=\"https:\/\/www.renthop.com\/blog\/2012\/06\/renthop-chicago-awesome\/\" target=\"_blank\">RentHop Chicago launched four months later<\/a>.  As of 2019, the unrealized crypto earnings exceed both Boston and Chicago cumulative gross profits!<\/p>\n\n\n\n<p>Unfortunately, as we never re-pegged the BTC prices, no agent has purchased using BitCoin since 2017.  The original 60% discount has transformed into a 261% surcharge.  Our engineering team may revisit the feature if there is demand.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In December 2013, RentHop.com began accepting BitCoin as a form of payment for landlords and real estate brokers to advertise apartment listings. The company initially offered a 60% discount off the prevailing USD to BTC exchange rate to encourage adoption of the new technology, and RentHop co-founder Lawrence Zhou pledged to hold the majority of [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":11600,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[153],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.4 (Yoast SEO v22.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RentHop BitCoin Appreciation Exceeds Boston and Chicago Profits - Real Estate Topics, Tips, and Guides<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.renthop.com\/blog\/renthop-bitcoin-appreciation-exceeds-boston-and-chicago-profits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RentHop BitCoin Appreciation Exceeds Boston and Chicago Profits\" \/>\n<meta property=\"og:description\" content=\"In December 2013, RentHop.com began accepting BitCoin as a form of payment for landlords and real estate brokers to advertise apartment listings. 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