Paying house rent with bitcoin is it appropriate?

Gormicsta

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Quote from: Baghdad on January 16, 2024, 09:39:34 AM

Glancing through the article https://cointelegraph.com/news/bitcoin-rent-agreement-argentina-landlord-tenant one would conclude adoption is striving in Argentina. Paying for a house with bitcoin sounds to me a mistake or lack of financial knowledge. Bitcoin is better than Fiat. Bitcoin increases in value and fiat faces inflation. Why then would one spend Bitcoin instead of fiat on a house rent which may expire in few years? Accommodating the Bitcoin can birth the person more money to pay his next house rent. But fiat wouldn't add any interest in the bank. Moreover the house owner will not hold the Bitcoin.

I don't see anything wrong with using Bitcoin to pay up your house rent, buying a house or what have you, I mean the future of Bitcoin is general adoption, using bitcoin to pay for anything, starting from a cup of coffee in a cafe to buying bus and plane tickets. If you see using Bitcoin to pay for rent then that means you can't afford to see Bitcoin being generally adopted as day to day payment method which is actually the goal and vision.

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Quote from: kotajikikox on February 03, 2024, 05:49:02 AM

I also agreed with you that why need to Pay in bitcoin when we have cash on hand ? bitcoin has a potential increase while fiat remains its value but this is about helping the bitcoin community and its value to have sense and this is to use in transacting , but yes we cannot blame others from storing their precious bitcoin and wait for the increase in price. and this is how people dealing here as some wanted to HODL while others wanted to circulate this cryto.

the contract implies the equivalent of 100 dollars in Bitcoin, which means that the amount is different every month. I know one freelancer, he receives a salary in dollars (usdt), some he also converts to local currency, some he converts to another crypto. Perhaps the person from the article has the same history, so he loses almost nothing and this is just another payment function and nothing more. It’s good that two people decided to make payments using this method. Moreover, it says that both are experienced users of cryptocurrency, so it’s beneficial for both.

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My answer to that question is yes and no. For No, It isn't appropriate if the landlord doesn't know about crypto or even accept Bitcoin as payment for the house rent. For Yes, it is appropriate if the landlord is also a crypto enthusiast and the landlord also told you that he/she also accept Bitcoin as payment for the house rent but if the landlord didn't mention anything like that then you should ask the landlord if he/she would accept Bitcoin as payment for the house rent.

wtsimis

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This can only be possible if the landlord accepts cryptocurrency as rent . Using cryptocurrency can be challenging for both landlords and tenants if the two disagree. Many are reluctant to accept it as a form of payment due to its decentralized nature .
Many times it becomes complicated to set up term and procces between two parties to manage the transaction considering factors like Bitcoin transaction fee and regulator .So I think the suitability of paying house rent with Bitcoin depends on the willingness and agreement of both parties with the digital currency.

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Quote from: Baghdad on January 16, 2024, 09:39:34 AM

Glancing through the article https://cointelegraph.com/news/bitcoin-rent-agreement-argentina-landlord-tenant one would conclude adoption is striving in Argentina. Paying for a house with bitcoin sounds to me a mistake or lack of financial knowledge. Bitcoin is better than Fiat. Bitcoin increases in value and fiat faces inflation. Why then would one spend Bitcoin instead of fiat on a house rent which may expire in few years? Accommodating the Bitcoin can birth the person more money to pay his next house rent. But fiat wouldn't add any interest in the bank. Moreover the house owner will not hold the Bitcoin.

If we think from the tenant's perspective then spending precious bitcoin on rent won't sound like a good idea.
On the other hand, if I was the landlord then I would be more than happy to get the rent paid in bitcoin.
I would be getting bitcoin on regular intervals thus DCAing bitcoin automatically every month.

PetieT

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Why not? If the owner doesn't mind

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Quote from: kotajikikox on February 03, 2024, 05:49:02 AM

I also agreed with you that why need to Pay in bitcoin when we have cash on hand ? bitcoin has a potential increase while fiat remains its value but this is about helping the bitcoin community and its value to have sense and this is to use in transacting , but yes we cannot blame others from storing their precious bitcoin and wait for the increase in price. and this is how people dealing here as some wanted to HODL while others wanted to circulate this cryto.

If both parties agree to the payment option, why not use it? Even if you have cash on hand, if the landlord prefers to be paid in Bitcoin, there's nothing wrong with that. Perhaps the rent money he receives is not used to support his daily needs, so he has decided to accept Bitcoin and add it directly to his Bitcoin holdings. This way, he wouldn't have to worry about fees and the steps involved in buying Bitcoin through an exchange.

kotajikikox

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I also agreed with you that why need to Pay in bitcoin when we have cash on hand ? bitcoin has a potential increase while fiat remains its value but this is about helping the bitcoin community and its value to have sense and this is to use in transacting , but yes we cannot blame others from storing their precious bitcoin and wait for the increase in price. and this is how people dealing here as some wanted to HODL while others wanted to circulate this cryto.

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Quote from: shield132 on January 30, 2024, 03:34:59 PM

Quote from: Samlucky O on January 29, 2024, 10:49:17 PM

Quote from: Baghdad on January 16, 2024, 09:39:34 AM

Glancing through the article https://cointelegraph.com/news/bitcoin-rent-agreement-argentina-landlord-tenant one would conclude adoption is striving in Argentina. Paying for a house with bitcoin sounds to me a mistake or lack of financial knowledge. Bitcoin is better than Fiat. Bitcoin increases in value and fiat faces inflation. Why then would one spend Bitcoin instead of fiat on a house rent which may expire in few years? Accommodating the Bitcoin can birth the person more money to pay his next house rent. But fiat wouldn't add any interest in the bank. Moreover the house owner will not hold the Bitcoin.

What if you pay rent with bitcoin and the Bitcoin drops to half of the initial deposit? Like play a $300 rent with bitcoin and immediately he reacieve it, it fell by %20and later futher drop and he losses, so I think it has the negative and the positive side. don't only tell us the positive side and neglecting the negative side. I think Bitcoin is for personal investment and not what to use anyhow if your. Instead you na sell your Bitcoin to fiat .

House owner has to pay bitcoins monthly which will equal $100, it's not a fixed monthly payment in Bitcoin, it's USD value converted to Bitcoin. I think that in this deal the person who pays for the rent buys Bitcoin on exchange and sends it to the house owner or he hopes that the price will go up and he will pay less and fewer Bitcoins each month. I think that first version is the correct, he converts USD to BTC and pays the rent. This deal will be done to gain attraction and write a history, just like our Bitcoin Pizza order has happened.

Paying a fixed monthly rent in terms of bitcoin seems to be good. It seems to be a wise decision, so the sender will make a calculation based on the particular day's market value and send it in the form of bitcoin. This won't affect the receiver as well as the tenant. A fixed amount in bitcoin doesn't seem to be fair because, in the bearish trend, tenants might pay less, but the rent paid in the bullish trend will be quite high. Everything depends on mutual agreement between the two, and these kinds of activities help in the real-time acceptance and circulation of bitcoin in day-to-day life.

shield132

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Quote from: Samlucky O on January 29, 2024, 10:49:17 PM

Quote from: Baghdad on January 16, 2024, 09:39:34 AM

Glancing through the article https://cointelegraph.com/news/bitcoin-rent-agreement-argentina-landlord-tenant one would conclude adoption is striving in Argentina. Paying for a house with bitcoin sounds to me a mistake or lack of financial knowledge. Bitcoin is better than Fiat. Bitcoin increases in value and fiat faces inflation. Why then would one spend Bitcoin instead of fiat on a house rent which may expire in few years? Accommodating the Bitcoin can birth the person more money to pay his next house rent. But fiat wouldn't add any interest in the bank. Moreover the house owner will not hold the Bitcoin.

What if you pay rent with bitcoin and the Bitcoin drops to half of the initial deposit? Like play a $300 rent with bitcoin and immediately he reacieve it, it fell by %20and later futher drop and he losses, so I think it has the negative and the positive side. don't only tell us the positive side and neglecting the negative side. I think Bitcoin is for personal investment and not what to use anyhow if your. Instead you na sell your Bitcoin to fiat .

House owner has to pay bitcoins monthly which will equal $100, it's not a fixed monthly payment in Bitcoin, it's USD value converted to Bitcoin. I think that in this deal the person who pays for the rent buys Bitcoin on exchange and sends it to the house owner or he hopes that the price will go up and he will pay less and fewer Bitcoins each month. I think that first version is the correct, he converts USD to BTC and pays the rent. This deal will be done to gain attraction and write a history, just like our Bitcoin Pizza order has happened.

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Quote from: bettercrypto on January 30, 2024, 09:42:12 AM

Quote from: Reatim on January 29, 2024, 08:00:30 AM

What will happen if all the people in crypto world will act or have that mindset as yours?

what if all people will Keep Holding bitcoin and will never spend a single satoshi? do you think it will serve its purpose?

What do you understand about Bitcoin ? what is its nature?

Never question or tells anyone that spend bitcoin committing mistakes because the truth is they are serving the bitcoin world to circulate and have its true value.

Not because it grows in value meaning you should hold this forever because what is the sense of the most popular buy in the history for paying thousand of bitcoins for just a box of pizza if you will keep holding and not to use as payment your bitcoin?

The question is, because of what you are asking, what if the tenant or lessee is a long-term holder of Bitcoin and then the landlord gave him the option of using Fiat and Bitcoin to pay his house rent?

Are you a Bitcoin fanatic and hold Bitcoin for long-term, reluctant to pay your saved Bitcoin if you have other fiat to pay the rent? But if you only have Bitcoin, of course you will be obligated to pay Bitcoin to the owner of the house you are renting.

Actually no one forces you on how you would pay because the landlord or the owner would really be just simply be receiving on what you do currently have as long you are paying your rent then this do matter the most. The only good thing on this one is that you do really have the option on what you would really be using and as a crypto enthusiast then if it turns out that you dont have any choice on paying up your rent
and you do have that Bitcoin to be spared or make use then its a good option or a life saving situation but of course we do understand on why people would really be that reluctant on using up their coins
on which we know that this is something just that a waste of using it up on something that we can really do on using up fiat.

It is really just that there are people who are really that skeptical on wasting up their precious coins on which does have the potential on rising up its value
into the future on which it would really be just that understandable on that part.

Rehan Zakir

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It's a great innovation.. In this way, we can easily pay house rent in Bitcoin..
Every country is now adopting Bitcoin currency, which is a good sign. The future of Bitcoin is very bright. So, holding Bitcoin is really beneficial for us. Price is increasing day by day.

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Quote from: virasog on January 29, 2024, 03:45:18 PM

Quote from: Nechiequ on January 28, 2024, 10:10:50 AM

Quote from: kryptqnick on January 16, 2024, 10:07:44 AM

If Bitcoin is used as money and treated as money, that presupposes active exchange of Bitcoin for goods and services. So paying the rent with Bitcoin makes sense from this perspective, and there's nothing bad about it. I think I'd be down to pay my rent in Bitcoin if it was accepted, but it's not, so I use fiat for that. Allowing monthly rent to be paid in Bitcoin can be a step toward accepting Bitcoin as legal tender in Argentina. It makes people more used to the idea of Bitcoin as a type of money, and it's beneficial for landlords if not tenants. Actually, it can be good for tenants, too, if it motivates them to adopt Bitcoin wider and to accumulate it regularly, instead of doing that with fiat.

I also feel that there is nothing wrong with this, in my opinion this is just a medium of exchange and it depends on the agreement of both parties, and we know that ancient payment was by exchanging goods on the condition that both parties agreed. But nowadays after the establishment of laws governing it, some countries allow it, some prohibit it, but I think it depends on mutual agreement. And such transactions can be kept secret for countries that do not agree to such exchanges.

Yes, the most important thing is that both parties should agree to this settlement that the rent can be paid in bitcoin. Usually, if one party is willing to pay rent in Bitcoin, the other one may not know about Bitcoin. Similarly, those who have put their house on rent may want to receive rent in Bitcoin but those living in that rented house may not find it convenient to pay in crypto.
I think once the bitcoin is globally accepted and more adopted, then more people will be willing to receive and send payments in bitcoins.

Still, both parties must be in complete agreement between (the renter and the payer). but if there is a government policy that prohibits this kind of transaction, I mean it can still be kept secret (from the government).

Quote from: coinerer on January 30, 2024, 12:34:08 AM

Quote from: Nechiequ on January 28, 2024, 10:10:50 AM

-snip-

Bitcoin is a digital currency. We can pay for anything like fiat money cash mobile banking bank card etc. Likewise if one is interested in accepting payments through Bitcoin. In that case we can pay it through Bitcoin. It's not a problem. But since Bitcoin is not so popular for global payments so far, it is certainly admirable if any home owner is interested in accepting house rent. So I greatly appreciate the op's brain activity. And looking at these stories, it seems that Bitcoin is really going to be a very important currency of the future

I think while there are still benefits in this, it will be very interesting for him even with any type of payment, including receiving payments from bitcoin. The most important thing is that there are benefits achieved.

bettercrypto

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Quote from: Reatim on January 29, 2024, 08:00:30 AM

What will happen if all the people in crypto world will act or have that mindset as yours?

what if all people will Keep Holding bitcoin and will never spend a single satoshi? do you think it will serve its purpose?

What do you understand about Bitcoin ? what is its nature?

Never question or tells anyone that spend bitcoin committing mistakes because the truth is they are serving the bitcoin world to circulate and have its true value.

Not because it grows in value meaning you should hold this forever because what is the sense of the most popular buy in the history for paying thousand of bitcoins for just a box of pizza if you will keep holding and not to use as payment your bitcoin?

The question is, because of what you are asking, what if the tenant or lessee is a long-term holder of Bitcoin and then the landlord gave him the option of using Fiat and Bitcoin to pay his house rent?

Are you a Bitcoin fanatic and hold Bitcoin for long-term, reluctant to pay your saved Bitcoin if you have other fiat to pay the rent? But if you only have Bitcoin, of course you will be obligated to pay Bitcoin to the owner of the house you are renting.

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Quote from: Smack That Ace on January 17, 2024, 07:33:50 AM

I don't think using bitcoin to pay rent or using it for any other business will help reduce world inflation. As long as fiat currencies remain the world's primary currency and primary yardstick, bitcoin will not be able to change inflation. It can be said that Bitcoin is a hedge against inflation, but it will be useful for bitcoin owners. Bitcoin cannot change the world's general inflation situation. Inflation is a huge problem and many factors are needed to control them, not just using bitcoin to easily solve inflation.

It is true, the means of you paying it doesn't really change, in a world where your rent is 200 dollars a month, you can pay that 200 dollars in dollar form, digitally send it, in gold, in stocks, in crypto, it doesn't matter because it's pegged to dollar that way. In a world where your rent is 0.005 bitcoin or something, and you keep paying that, then things are changing, but for now that can't happen because price of bitcoin changes all the time.

I think that should be the most important difference in the current situation. Inflation and using fiat will continue for a long long time, we just need to learn to use bitcoin as well as we hopefully could, that would give us the benefit and we will do a lot better with it without a doubt.

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Quote from: coinerer on January 30, 2024, 12:34:08 AM

Quote from: Nechiequ on January 28, 2024, 10:10:50 AM

Quote from: kryptqnick on January 16, 2024, 10:07:44 AM

If Bitcoin is used as money and treated as money, that presupposes active exchange of Bitcoin for goods and services. So paying the rent with Bitcoin makes sense from this perspective, and there's nothing bad about it. I think I'd be down to pay my rent in Bitcoin if it was accepted, but it's not, so I use fiat for that. Allowing monthly rent to be paid in Bitcoin can be a step toward accepting Bitcoin as legal tender in Argentina. It makes people more used to the idea of Bitcoin as a type of money, and it's beneficial for landlords if not tenants. Actually, it can be good for tenants, too, if it motivates them to adopt Bitcoin wider and to accumulate it regularly, instead of doing that with fiat.

I also feel that there is nothing wrong with this, in my opinion this is just a medium of exchange and it depends on the agreement of both parties, and we know that ancient payment was by exchanging goods on the condition that both parties agreed. But nowadays after the establishment of laws governing it, some countries allow it, some prohibit it, but I think it depends on mutual agreement. And such transactions can be kept secret for countries that do not agree to such exchanges.

Bitcoin is a digital currency. We can pay for anything like fiat money cash mobile banking bank card etc. Likewise if one is interested in accepting payments through Bitcoin. In that case we can pay it through Bitcoin. It's not a problem. But since Bitcoin is not so popular for global payments so far, it is certainly admirable if any home owner is interested in accepting house rent. So I greatly appreciate the op's brain activity. And looking at these stories, it seems that Bitcoin is really going to be a very important currency of the future

In theory, bitcoin was created to be a peer-to-peer currency so it could be used for payments like fiat currency. But the reality is completely different because barriers such as legality, acceptance, high transaction fees...are barriers that make it difficult for bitcoin to become a currency. So I don't agree with you that bitcoin will become a currency in the future. So far, I'm pretty confident that bitcoin is on its way to becoming an asset, an investment more like gold than a currency.

coinerer

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Quote from: Nechiequ on January 28, 2024, 10:10:50 AM

Quote from: kryptqnick on January 16, 2024, 10:07:44 AM

If Bitcoin is used as money and treated as money, that presupposes active exchange of Bitcoin for goods and services. So paying the rent with Bitcoin makes sense from this perspective, and there's nothing bad about it. I think I'd be down to pay my rent in Bitcoin if it was accepted, but it's not, so I use fiat for that. Allowing monthly rent to be paid in Bitcoin can be a step toward accepting Bitcoin as legal tender in Argentina. It makes people more used to the idea of Bitcoin as a type of money, and it's beneficial for landlords if not tenants. Actually, it can be good for tenants, too, if it motivates them to adopt Bitcoin wider and to accumulate it regularly, instead of doing that with fiat.

I also feel that there is nothing wrong with this, in my opinion this is just a medium of exchange and it depends on the agreement of both parties, and we know that ancient payment was by exchanging goods on the condition that both parties agreed. But nowadays after the establishment of laws governing it, some countries allow it, some prohibit it, but I think it depends on mutual agreement. And such transactions can be kept secret for countries that do not agree to such exchanges.

Bitcoin is a digital currency. We can pay for anything like fiat money cash mobile banking bank card etc. Likewise if one is interested in accepting payments through Bitcoin. In that case we can pay it through Bitcoin. It's not a problem. But since Bitcoin is not so popular for global payments so far, it is certainly admirable if any home owner is interested in accepting house rent. So I greatly appreciate the op's brain activity. And looking at these stories, it seems that Bitcoin is really going to be a very important currency of the future

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Quote from: Baghdad on January 16, 2024, 09:39:34 AM

Glancing through the article https://cointelegraph.com/news/bitcoin-rent-agreement-argentina-landlord-tenant one would conclude adoption is striving in Argentina. Paying for a house with bitcoin sounds to me a mistake or lack of financial knowledge. Bitcoin is better than Fiat. Bitcoin increases in value and fiat faces inflation. Why then would one spend Bitcoin instead of fiat on a house rent which may expire in few years? Accommodating the Bitcoin can birth the person more money to pay his next house rent. But fiat wouldn't add any interest in the bank. Moreover the house owner will not hold the Bitcoin.

What if you pay rent with bitcoin and the Bitcoin drops to half of the initial deposit? Like play a $300 rent with bitcoin and immediately he reacieve it, it fell by %20and later futher drop and he losses, so I think it has the negative and the positive side. don't only tell us the positive side and neglecting the negative side. I think Bitcoin is for personal investment and not what to use anyhow if your. Instead you na sell your Bitcoin to fiat .

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Quote from: mvdheuvel1983 on January 29, 2024, 07:19:27 PM

Quote from: Baghdad on January 16, 2024, 09:39:34 AM

Glancing through the article https://cointelegraph.com/news/bitcoin-rent-agreement-argentina-landlord-tenant one would conclude adoption is striving in Argentina. Paying for a house with bitcoin sounds to me a mistake or lack of financial knowledge. Bitcoin is better than Fiat. Bitcoin increases in value and fiat faces inflation. Why then would one spend Bitcoin instead of fiat on a house rent which may expire in few years? Accommodating the Bitcoin can birth the person more money to pay his next house rent. But fiat wouldn't add any interest in the bank. Moreover the house owner will not hold the Bitcoin.

It's not a bad idea to pay house rent or other bills with Bitcoin infact making payment transactions is another way of Bitcoin advertisement which is one of the ways to make Bitcoin get more recognition and popularity around any place that is still seeing it as evil or scam. If you have a mutual agreement with someone and he's willing to accept payments in Bitcoin I would suggest you do that but don't forget to also consider the price of Bitcoin just in case you stand to pay more charge on the fees. People will consider doing payments with Bitcoin once they realize that Bitcoin can be be used to totally replace what fiat is used for in a better way without having much stress.

We still remember when Bitcoin was still worth $10k until it finally became $60k, for example, it has increased many times over, so I think there's no harm in diversifying some of our profits into property, so it will be safer, and especially at that time. if we convert it to bitcoin and then buy it back at around $16k, of course something like this if we have sufficient knowledge will be more profitable

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Quote from: Baghdad on January 16, 2024, 09:39:34 AM

Glancing through the article https://cointelegraph.com/news/bitcoin-rent-agreement-argentina-landlord-tenant one would conclude adoption is striving in Argentina. Paying for a house with bitcoin sounds to me a mistake or lack of financial knowledge. Bitcoin is better than Fiat. Bitcoin increases in value and fiat faces inflation. Why then would one spend Bitcoin instead of fiat on a house rent which may expire in few years? Accommodating the Bitcoin can birth the person more money to pay his next house rent. But fiat wouldn't add any interest in the bank. Moreover the house owner will not hold the Bitcoin.

Since cryptocurrency is legalized in Argentina, Bitcoin can be used as a medium of exchange for any product. Since there are objections to using fiat and the potential for inflation, it makes sense to authorize rent through Bitcoin. Exchange of house rent, car rental and other daily necessities through Bitcoin certainly has many advantages over fiat.

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