Buying a house with 100% Bitcoin is possible in Portugal - page 2.

joker_josue

legendary

Activity: 1862

Merit: 5154

**In BTC since 2013**

Quote from: Porfirii on October 18, 2023, 08:40:43 AM

It is, indeed, but if I'm not wrong some of the crypto benefits for foreigners who move there will end in 2024, so it seems that it is becoming little by little a not so friendly country, due to impositions from Europe.

The end of incentives for foreigners was not intended for cryptocurrencies, but for all people who came to live in Portugal or bought a house in Portugal.

Portugal continues to be a good destination for those who use crypto, as despite already paying taxes, it only pays tax on profits obtained from the sales of coins purchased in the last year. Anyone who is a holder is an excellent destination.

Porfirii

legendary

Activity: 2002

Merit: 2534

The Alliance Of Bitcointalk Translators - ENG>SPA

Quote from: ?? on ??

This is excellent news. I had already heard that Portugal is a bitcoin friendly nation but I didn't know that you can even purhase y a house with BTC.

It is, indeed, but if I'm not wrong some of the crypto benefits for foreigners who move there will end in 2024, so it seems that it is becoming little by little a not so friendly country, due to impositions from Europe.

Anyway, as long as I know, you'll be still able to buy a house in Portugal, after paying the corresponding taxes, of course.

Patrol69

sr. member

Activity: 686

Merit: 286

Quote from: Out of mind on September 17, 2023, 08:52:24 PM

It's really nice to hear that houses are currently being bought and sold with Bitcoin. We look at this to understand how much Bitcoin has flourished today and how much it has tried to change the world. Today more and more people accept Bitcoin, and it is possible to buy different products with Bitcoin, since houses sold in Portugal accepted Bitcoin payments, so I think in the future more merchants will accept Bitcoin when selling different things. I believe that Bitcoin will rule the world one day and every country will have different purchases completed with Bitcoin. Since houses are bought in Portugal with bitcoins, I think maybe they will accept bitcoins for buying and selling land in the future.

The two people in Portugal who bought and sold their house with Bitcoin I think had a plan in advance that they would do this transaction with Bitcoin. Where others do their transactions with Euros or Dollars, these two men may have wanted to do something different in the transaction, which is why they chose Bitcoin as the medium of transaction. Such incidents of theirs have been widely discussed in the world. People are now planning to make big transactions through Bitcoin.
Hopefully this large transaction through Bitcoin will not be limited to Portugal and there will be many more such transactions and all over the world. Such events show the level of popularity Bitcoin has reached and how much more Bitcoin's popularity can grow in the future.

Lanatsa

hero member

Activity: 2968

Merit: 687

Quote from: Out of mind on September 17, 2023, 08:52:24 PM

It's really nice to hear that houses are currently being bought and sold with Bitcoin. We look at this to understand how much Bitcoin has flourished today and how much it has tried to change the world. Today more and more people accept Bitcoin, and it is possible to buy different products with Bitcoin, since houses sold in Portugal accepted Bitcoin payments, so I think in the future more merchants will accept Bitcoin when selling different things. I believe that Bitcoin will rule the world one day and every country will have different purchases completed with Bitcoin. Since houses are bought in Portugal with bitcoins, I think maybe they will accept bitcoins for buying and selling land in the future.

You should really refrain up bumping threads which had been that no response or not active for 2 weeks but somewhat if the response is relevant then it wont really be that much of an issue.

Going back into the topic, any signs or things that correlates with Bitcoin adoption specially on its utility as a payment method then it would be always that giving that positive vibes.
The only thing that i dont like on buying things using up Bitcoin is that you do really miss out the opportunity on making profits on just simply holding it. Well, there are people who do really focuses
or really that giving out importance when it comes into its utility.

Lets show some example about the biggest or one of the expensive houses been bought using Bitcoin.

In June 2021, when the cryptocurrency markets were soaring, the developers of the Arte condominium in Miami’s Surfside neighborhood announced that a buyer had purchased a penthouse there for $22.5 million in cryptocurrency.
https://www.wsj.com/articles/florida-penthouse-bought-with-crypto-sells-for-18-million-cash-11671732075

Just wow!

Out of mind

sr. member

Activity: 672

Merit: 321

I like to treat everyone as a friend 🔹

It's really nice to hear that houses are currently being bought and sold with Bitcoin. We look at this to understand how much Bitcoin has flourished today and how much it has tried to change the world. Today more and more people accept Bitcoin, and it is possible to buy different products with Bitcoin, since houses sold in Portugal accepted Bitcoin payments, so I think in the future more merchants will accept Bitcoin when selling different things. I believe that Bitcoin will rule the world one day and every country will have different purchases completed with Bitcoin. Since houses are bought in Portugal with bitcoins, I think maybe they will accept bitcoins for buying and selling land in the future.

ultrloa

legendary

Activity: 2758

Merit: 1228

Quote from: Patrol69 on August 29, 2023, 09:12:27 PM

Quote from: RewFrew on June 28, 2023, 02:03:56 PM

Quote from: joker_josue on May 18, 2022, 05:35:25 AM

At the beginning of this month (May 2022), a house was sold in Portugal, in which it was fully paid for with Bitcoin. This was made possible, thanks to a new decree of law that allows crypto exchanges for houses. The house cost 3BTC at the time and it was all done legally.

You can find out more in these news:
EN: https://finbold.com/house-in-portugal-sold-for-3-bitcoins-in-a-historic-first-ever-direct-sale/
PT: https://www.idealista.pt/news/imobiliario/habitacao/2022/05/06/52164-casa-em-braga-e-comprada-por-3-bitcoins-e-a-1a-transacao-100-cripto

But the highlight now goes to the platform created by the real estate company responsible for this sale, where it lists all the properties that can be acquired with Bitcoin.

Cryptohouses

In addition to presenting a series of properties available to buy with Bitcoin, the company still gives full legal support so that everything is done according to the law.

___
NOTE: I have no connection to this property, I'm just sharing the information. I'm from Portugal and I can give you a few more details.

I think it is very good news for all of us who are related with Bitcoin. If Bitcoin legal in Portugal there no problem but Bitcoin were illegal there are some problem. Because government or legal authorities will creat problem and that will creat negative impact on bitcoin and crypto currency market. Overall i think if bitcoin were not illegal in Portugal it will create positive impact on cryptocurrency market. And it will be milestone for Bitcoin. Because usability of bitcoin will increase and Bitcoin will more popular and credible. But i think every country will think positive for bitcoin considering it’s necessity.

The fact that Bitcoin is legal in Portugal is why these two gentlemen are able to sell and buy their house with Bitcoin, and the fact that Bitcoin is legal in Portugal has made this news so big. Bitcoin is legal in most of the countries in Europe, so it is very easy to transact with Bitcoin in those countries. If you want to transact through bitcoin then the government of that country will not stop you but you may be hindered by the security aspect of bitcoin. But those who are involved with Bitcoin should not worry about the security system of Bitcoin transaction system because the security system of Bitcoin transaction is good enough so that transactions can be done safely through Bitcoin.

Maybe they are worried about the security since they are dealing with huge amount so maybe that's the reason why they didn't choose to use bitcoin on that transaction. If I am also the seller or buyer I will directly use fist since I can't take to have stress dealing with huge amount and let it sleep on your wallet for 24 hours or more than that since we don't know when the hacking issue comes. Maybe in future if we know that platforms or bitcoins is 100% sure people will gain confidence to use bitcoin on huge transactions especially buying a real estate assets.

Patrol69

sr. member

Activity: 686

Merit: 286

Quote from: RewFrew on June 28, 2023, 02:03:56 PM

Quote from: joker_josue on May 18, 2022, 05:35:25 AM

At the beginning of this month (May 2022), a house was sold in Portugal, in which it was fully paid for with Bitcoin. This was made possible, thanks to a new decree of law that allows crypto exchanges for houses. The house cost 3BTC at the time and it was all done legally.

You can find out more in these news:
EN: https://finbold.com/house-in-portugal-sold-for-3-bitcoins-in-a-historic-first-ever-direct-sale/
PT: https://www.idealista.pt/news/imobiliario/habitacao/2022/05/06/52164-casa-em-braga-e-comprada-por-3-bitcoins-e-a-1a-transacao-100-cripto

But the highlight now goes to the platform created by the real estate company responsible for this sale, where it lists all the properties that can be acquired with Bitcoin.

Cryptohouses

In addition to presenting a series of properties available to buy with Bitcoin, the company still gives full legal support so that everything is done according to the law.

___
NOTE: I have no connection to this property, I'm just sharing the information. I'm from Portugal and I can give you a few more details.

I think it is very good news for all of us who are related with Bitcoin. If Bitcoin legal in Portugal there no problem but Bitcoin were illegal there are some problem. Because government or legal authorities will creat problem and that will creat negative impact on bitcoin and crypto currency market. Overall i think if bitcoin were not illegal in Portugal it will create positive impact on cryptocurrency market. And it will be milestone for Bitcoin. Because usability of bitcoin will increase and Bitcoin will more popular and credible. But i think every country will think positive for bitcoin considering it’s necessity.

The fact that Bitcoin is legal in Portugal is why these two gentlemen are able to sell and buy their house with Bitcoin, and the fact that Bitcoin is legal in Portugal has made this news so big. Bitcoin is legal in most of the countries in Europe, so it is very easy to transact with Bitcoin in those countries. If you want to transact through bitcoin then the government of that country will not stop you but you may be hindered by the security aspect of bitcoin. But those who are involved with Bitcoin should not worry about the security system of Bitcoin transaction system because the security system of Bitcoin transaction is good enough so that transactions can be done safely through Bitcoin.

Bitcoin_people

sr. member

Activity: 700

Merit: 380

🎗️🍁🎭

Quote from: RewFrew on June 28, 2023, 02:03:56 PM

Quote from: joker_josue on May 18, 2022, 05:35:25 AM

At the beginning of this month (May 2022), a house was sold in Portugal, in which it was fully paid for with Bitcoin. This was made possible, thanks to a new decree of law that allows crypto exchanges for houses. The house cost 3BTC at the time and it was all done legally.

You can find out more in these news:
EN: https://finbold.com/house-in-portugal-sold-for-3-bitcoins-in-a-historic-first-ever-direct-sale/
PT: https://www.idealista.pt/news/imobiliario/habitacao/2022/05/06/52164-casa-em-braga-e-comprada-por-3-bitcoins-e-a-1a-transacao-100-cripto

But the highlight now goes to the platform created by the real estate company responsible for this sale, where it lists all the properties that can be acquired with Bitcoin.

Cryptohouses

In addition to presenting a series of properties available to buy with Bitcoin, the company still gives full legal support so that everything is done according to the law.

___
NOTE: I have no connection to this property, I'm just sharing the information. I'm from Portugal and I can give you a few more details.

I think it is very good news for all of us who are related with Bitcoin. If Bitcoin legal in Portugal there no problem but Bitcoin were illegal there are some problem. Because government or legal authorities will creat problem and that will creat negative impact on bitcoin and crypto currency market. Overall i think if bitcoin were not illegal in Portugal it will create positive impact on cryptocurrency market. And it will be milestone for Bitcoin. Because usability of bitcoin will increase and Bitcoin will more popular and credible. But i think every country will think positive for bitcoin considering it’s necessity.

Bitcoin in Portugal is legal which makes it possible to buy a house in Portugal with Bitcoin. No problem as Bitcoin is legal in Portugal and there is no tax on Bitcoin and Crypto in Portugal. That is why there will not be any problem on Bitcoin but it will create a positive impact on Bitcoin instead of negatively impacting it. And this is really a great milestone for me that will make Bitcoin more popular in the future. They make bitcoin usable because trust depends on it, and this bodes well for bitcoin and the future will gain more popularity.

joker_josue

legendary

Activity: 1862

Merit: 5154

**In BTC since 2013**

Quote from: Porfirii on July 02, 2023, 06:20:48 AM

In summary, the regulation tries to charge the speculators, but leaves alone the long term investors/holders. Although I like the idea, it still poses some risks to newbies who start trading without a clear idea of what they are doing, who can get an unpleasant surprise if they don't manage their transactions properly.

Yes, you have to know how to manage well.
Buying at times when the person knows they won't sell. Or perhaps using platforms without KYC. And sell only when you know you haven't bought in the last year.

It requires greater management, but in general it was a good measure approved. We'll see how long it lasts.

Porfirii

legendary

Activity: 2002

Merit: 2534

The Alliance Of Bitcointalk Translators - ENG>SPA

Quote from: joker_josue on July 01, 2023, 04:54:40 PM

Quote from: Porfirii on July 01, 2023, 09:08:20 AM

Quote from: savetheFORUM on June 29, 2023, 11:22:15 AM

<...>

If you are a long term holder of Bitcoin you do not pay tax!!!

I'll give an example:
Buy 1 BTC in 2020, sell in 2023 = pay no tax.
Buy 1 BTC in Jan/2023, sell in Dec/2023 = pay 28% tax on profit.
Buy 1 BTC in Jan/2023, sell in Dec/2024 = pay no tax.

That is, only the profits obtained from purchases and sales during that calendar year will be accounted for payment.
Another example:
Buy 1 BTC in 2020, and buy 1 BTC in Jan/2023. It sells in Dec/2023 2 BTC. You will only pay tax on the profit you made in 1BTC, the other was purchased more than a year ago, it will not be accounted for.

Did I explain the idea?

You have explained it perfectly well joker_josue: I think that the way you have presented the example with real figures there will be no room for doubt.

In summary, the regulation tries to charge the speculators, but leaves alone the long term investors/holders. Although I like the idea, it still poses some risks to newbies who start trading without a clear idea of what they are doing, who can get an unpleasant surprise if they don't manage their transactions properly.

As it seems, due to new regulations, this is going to stop being "just a game" soon.

joker_josue

legendary

Activity: 1862

Merit: 5154

**In BTC since 2013**

Quote from: Porfirii on July 01, 2023, 09:08:20 AM

Quote from: savetheFORUM on June 29, 2023, 11:22:15 AM

So basically, if you are a long-term holder, you will have to pay taxes for holding a certain amount of Bitcoin if it is in profit since you've bought it after one year is completed. It means that Portugal is taxing long-term holders and short-term traders are exempted from this rule, It's obviously great for day traders as they won't need to pay taxes but we all know that the majority of people hold their Bitcoins for pretty long periods which will make them pay taxes if they are living in Portugal.

I forgot to ask, is the tax only payable if the person sells their assets and doesn't apply if they are just holding them? And what if someone sells their Bitcoins at a loss? Say they bought in January when the price was $29k, and they sold them in December when the price was $27k. So they won't pay taxes in this scenario?

I think you misunderstood joker_josue's example. If you are a long-term holder and you hodl for more than a year, then you are not subject to pay taxes in Portugal, from what I understand. Taking into account that historically nobody was forced to pay taxes on crypto profits in the country, this is bad news for many, but I still think that this is a very reasonable policy, the same as Germany's if I'm not wrong, and the one I would like to be applied in Spain.

On the other hand, losses can be used to get a discount in your present or future taxes.

If you are a long term holder of Bitcoin you do not pay tax!!!

I'll give an example:
Buy 1 BTC in 2020, sell in 2023 = pay no tax.
Buy 1 BTC in Jan/2023, sell in Dec/2023 = pay 28% tax on profit.
Buy 1 BTC in Jan/2023, sell in Dec/2024 = pay no tax.

That is, only the profits obtained from purchases and sales during that calendar year will be accounted for payment.
Another example:
Buy 1 BTC in 2020, and buy 1 BTC in Jan/2023. It sells in Dec/2023 2 BTC. You will only pay tax on the profit you made in 1BTC, the other was purchased more than a year ago, it will not be accounted for.

Did I explain the idea?

Porfirii

legendary

Activity: 2002

Merit: 2534

The Alliance Of Bitcointalk Translators - ENG>SPA

Quote from: savetheFORUM on June 29, 2023, 11:22:15 AM

Quote from: joker_josue on June 25, 2023, 12:52:04 PM

Quote from: Bananington on June 25, 2023, 12:31:46 PM

I like Portugal, and the fact of their BTC acceptance for payments. One fact though is that the government is always going to find way to gain from BTC investments either as taxes or fees, where this don't happen, the government probably invested alot with their portfolio and wouldn't tell you.

From this year (2023), in Portugal, taxes on profits obtained from the sale of crypto in the last 365 days began to be paid. That is, if you buy BTC in January and sell it in December, you may have to pay taxes on that gain. But if you only sell in February of the following year, you no longer pay.

I think generally speaking, it's not a bad option. It's just a matter of the person managing their assets well.

So basically, if you are a long-term holder, you will have to pay taxes for holding a certain amount of Bitcoin if it is in profit since you've bought it after one year is completed. It means that Portugal is taxing long-term holders and short-term traders are exempted from this rule, It's obviously great for day traders as they won't need to pay taxes but we all know that the majority of people hold their Bitcoins for pretty long periods which will make them pay taxes if they are living in Portugal.

I forgot to ask, is the tax only payable if the person sells their assets and doesn't apply if they are just holding them? And what if someone sells their Bitcoins at a loss? Say they bought in January when the price was $29k, and they sold them in December when the price was $27k. So they won't pay taxes in this scenario?

I think you misunderstood joker_josue's example. If you are a long-term holder and you hodl for more than a year, then you are not subject to pay taxes in Portugal, from what I understand. Taking into account that historically nobody was forced to pay taxes on crypto profits in the country, this is bad news for many, but I still think that this is a very reasonable policy, the same as Germany's if I'm not wrong, and the one I would like to be applied in Spain.

On the other hand, losses can be used to get a discount in your present or future taxes.

savetheFORUM

full member

Activity: 1176

Merit: 140

Quote from: joker_josue on June 25, 2023, 12:52:04 PM

Quote from: Bananington on June 25, 2023, 12:31:46 PM

I like Portugal, and the fact of their BTC acceptance for payments. One fact though is that the government is always going to find way to gain from BTC investments either as taxes or fees, where this don't happen, the government probably invested alot with their portfolio and wouldn't tell you.

From this year (2023), in Portugal, taxes on profits obtained from the sale of crypto in the last 365 days began to be paid. That is, if you buy BTC in January and sell it in December, you may have to pay taxes on that gain. But if you only sell in February of the following year, you no longer pay.

I think generally speaking, it's not a bad option. It's just a matter of the person managing their assets well.

So basically, if you are a long-term holder, you will have to pay taxes for holding a certain amount of Bitcoin if it is in profit since you've bought it after one year is completed. It means that Portugal is taxing long-term holders and short-term traders are exempted from this rule, It's obviously great for day traders as they won't need to pay taxes but we all know that the majority of people hold their Bitcoins for pretty long periods which will make them pay taxes if they are living in Portugal.

I forgot to ask, is the tax only payable if the person sells their assets and doesn't apply if they are just holding them? And what if someone sells their Bitcoins at a loss? Say they bought in January when the price was $29k, and they sold them in December when the price was $27k. So they won't pay taxes in this scenario?

RewFrew

full member

Activity: 672

Merit: 158

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: joker_josue on May 18, 2022, 05:35:25 AM

At the beginning of this month (May 2022), a house was sold in Portugal, in which it was fully paid for with Bitcoin. This was made possible, thanks to a new decree of law that allows crypto exchanges for houses. The house cost 3BTC at the time and it was all done legally.

You can find out more in these news:
EN: https://finbold.com/house-in-portugal-sold-for-3-bitcoins-in-a-historic-first-ever-direct-sale/
PT: https://www.idealista.pt/news/imobiliario/habitacao/2022/05/06/52164-casa-em-braga-e-comprada-por-3-bitcoins-e-a-1a-transacao-100-cripto

But the highlight now goes to the platform created by the real estate company responsible for this sale, where it lists all the properties that can be acquired with Bitcoin.

Cryptohouses

In addition to presenting a series of properties available to buy with Bitcoin, the company still gives full legal support so that everything is done according to the law.

___
NOTE: I have no connection to this property, I'm just sharing the information. I'm from Portugal and I can give you a few more details.

I think it is very good news for all of us who are related with Bitcoin. If Bitcoin legal in Portugal there no problem but Bitcoin were illegal there are some problem. Because government or legal authorities will creat problem and that will creat negative impact on bitcoin and crypto currency market. Overall i think if bitcoin were not illegal in Portugal it will create positive impact on cryptocurrency market. And it will be milestone for Bitcoin. Because usability of bitcoin will increase and Bitcoin will more popular and credible. But i think every country will think positive for bitcoin considering it’s necessity.

Fuso.hp

sr. member

Activity: 490

Merit: 294

Quote from: Aikidoka on June 20, 2023, 03:18:13 PM

Quote from: rarkjames on June 08, 2023, 09:37:29 PM

What is the cost of living like in El Salvador? How much would it cost to rent a one bedroom apartment in an upscale neighborhood there?

I think the cost of living in El Salvador is much lower, for example when compared to the US. However, I'm pretty sure that it can vary from place to place within El Salvador. For more detailed information you can refer to the Ministry of Foreign Affairs in your country as Litzki1990 suggested.

I think you can also conduct your own research on Google where you are likely to find accurate information. This website provides a lot of data about the cost of living in El Salvador. You can check it out for more information.

The cost of living in El Salvador is supposed to be several times less than the cost of living in America. But the cost of staying there depends on how you stay. That is, if you want to be a citizen of that country, it may be a little easier for you to stay, but if you plan to collect a visa from your country's embassy and live in that country, the cost of living and eating may be higher for you. However, the Embassy of El Salvador or your Ministry of Foreign Affairs may be able to assist you with more information on this matter than we can.

joker_josue

legendary

Activity: 1862

Merit: 5154

**In BTC since 2013**

Quote from: Bananington on June 25, 2023, 12:31:46 PM

I like Portugal, and the fact of their BTC acceptance for payments. One fact though is that the government is always going to find way to gain from BTC investments either as taxes or fees, where this don't happen, the government probably invested alot with their portfolio and wouldn't tell you.

From this year (2023), in Portugal, taxes on profits obtained from the sale of crypto in the last 365 days began to be paid. That is, if you buy BTC in January and sell it in December, you may have to pay taxes on that gain. But if you only sell in February of the following year, you no longer pay.

I think generally speaking, it's not a bad option. It's just a matter of the person managing their assets well.

Bananington

sr. member

Activity: 1470

Merit: 428

A country that has grown to accept BTC as payment is one that may soon adopt it as a legal tender in some years time.
BTC has more than assisted in one way or another. El Salvador is one of the pace setters to say that BTC can work for a country.

I like Portugal, and the fact of their BTC acceptance for payments. One fact though is that the government is always going to find way to gain from BTC investments either as taxes or fees, where this don't happen, the government probably invested alot with their portfolio and wouldn't tell you.

noormcs5

hero member

Activity: 2856

Merit: 618

Leading Crypto Sports Betting & Casino Platform

Quote from: xen1oph on June 08, 2023, 12:43:29 AM

Quote from: Bitcoin_people on June 04, 2023, 10:47:48 AM

El Salvador is one of the developed countries that has officially legalized Bitcoin. Cryptocurrency is fully legal in this country and everything from buying and selling goods to asking for payment is paid in Bitcoin. The country has advanced their economy a lot by doing various transactions through Bitcoin and has become known as one of the most popular countries in the world today. El Salvador has a facility that has a free bitcoin payment system for various transactions. and has provided special facilities for tourists to transact with Bitcoin at various locations. So we can say that all the countries where Bitcoin transactions are completely legal, everything can be done using Bitcoin.

El Salvador is truly paving the way for a Bitcoin-dominated future! While it's exciting to see a country fully embracing cryptocurrency, I can't help but wonder about the potential downsides. How will they address the concerns of financial stability, price manipulation, and the impact on their citizens who might not be tech-savvy or have access to reliable internet? It's a brave new world, and El Salvador is at the forefront of it.

It's not only about a technical difficulties that the El Salvador citizens might face in order to use bitcoin in day to day life but it is more about how they will cope with the fluctuating bitcoin prices. At one time the bitcoin price was near 60000$+ US dollars and within a year it reach to 16000$ to 17000$ US dollars .
It is really a challenge for the people of El Salvador and bear this fluctuation in bitcoin prices.
You can think that if you buy a house with BTC when bitcoin was at all time high and then if you buy a house with bitcoin was near 20000$, how much difference it is in the value of the house.

Aikidoka

sr. member

Activity: 1078

Merit: 342

Sinbad Mixer: Mix Your BTC Quickly

Quote from: rarkjames on June 08, 2023, 09:37:29 PM

What is the cost of living like in El Salvador? How much would it cost to rent a one bedroom apartment in an upscale neighborhood there?

I think the cost of living in El Salvador is much lower, for example when compared to the US. However, I'm pretty sure that it can vary from place to place within El Salvador. For more detailed information you can refer to the Ministry of Foreign Affairs in your country as Litzki1990 suggested.

I think you can also conduct your own research on Google where you are likely to find accurate information. This website provides a lot of data about the cost of living in El Salvador. You can check it out for more information.

bettercrypto

sr. member

Activity: 1498

Merit: 271

DGbet.fun - Crypto Sportsbook

Quote from: arwin100 on June 08, 2023, 06:52:57 PM

Quote from: xen1oph on June 08, 2023, 12:43:29 AM

Quote from: Bitcoin_people on June 04, 2023, 10:47:48 AM

El Salvador is one of the developed countries that has officially legalized Bitcoin. Cryptocurrency is fully legal in this country and everything from buying and selling goods to asking for payment is paid in Bitcoin. The country has advanced their economy a lot by doing various transactions through Bitcoin and has become known as one of the most popular countries in the world today. El Salvador has a facility that has a free bitcoin payment system for various transactions. and has provided special facilities for tourists to transact with Bitcoin at various locations. So we can say that all the countries where Bitcoin transactions are completely legal, everything can be done using Bitcoin.

El Salvador is truly paving the way for a Bitcoin-dominated future! While it's exciting to see a country fully embracing cryptocurrency, I can't help but wonder about the potential downsides. How will they address the concerns of financial stability, price manipulation, and the impact on their citizens who might not be tech-savvy or have access to reliable internet? It's a brave new world, and El Salvador is at the forefront of it.

For now the potential downside we can see is the bitcoin price volatility since they can control the situation and if the price dump they will be affected since for sure the value or buying power of their owned bitcoins will decrease. Also we can add up the problem if transaction fees goes high since they will also get trouble to do transaction if there's network congestion will happen. But over all this is minimal problem and everything can be solve.

I agree with what you said, but if you are a particular bitcoin lover and you are also a long-term holder it will not be easy for you to use it as payment for a house that you will buy of course. Instead of paying in Bitcoin, you'd rather pay in cash than use Bitcoin.

Because just think if the value of the House in money you will pay in bitcoin equal to the value of money today. You can even recover the value of the house in money if you hold bitcoin little by little as the day and time pass for sure.

Topic: Buying a house with 100% Bitcoin is possible in Portugal - page 2. (Read 2341 times)