Topic: Paying house rent with bitcoin is it appropriate? - page 2. (Read 1350 times)

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.

That's true, using Bitcoin to pay rent is acceptable, as long as both parties agree on the payment method and the amount of Bitcoin being sent matches their agreement. What's crucial is that the landlord consents to this payment method and makes the tenant feel at ease with it. As long as these conditions are met, there should be no issues.

NO, it is not a mistake. The person from Argentina has contributed in the adoption of Bitcoin as a payment tool or a digital currency. He also probably paid with Bitcoin because it is more profitable for him. I'm sure he won't do it if paying with Bitcoin will be harmful for him.

We don't compare Bitcoin and fiat here. In the term of investment, surely Bitcoin is much better than fiats. But it is about paying something with Bitcoin, it is not about investment. Sure, the person can use fiats but he may have certain perspective. He may want to show others that we really can use Bitcoin for anything, including for paying house rent. He will make a history if he is the first one who did it in his country.

We don't know about this. But he must have a reason.

How do you know the house owner to never hold Bitcoin? How if the house owner is Bitcoiner as well?
I think the house owner won't accept Bitcoin for paying house rent if he isn't familiar with Bitcoin. IMO, the house owner will use the Bitcoin for his digital asset.

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.

There is a need for better market circulation to have a higher level of cryptocurrency acceptance in all businesses. It can be our day-to-day lives or specific things. Most people prioritize bitcoin as a form of investment due to the difference in price that happens over time. As mentioned by most users, it doesn't guarantee that the price will increase with time. However, the old-track history makes people believe in the growth and makes them hesitant to spend. Due to the fluctuation in the value of bitcoin, the tenant pays different amounts in terms of bitcoin for different time periods. Our minds should be on spending, and we shouldn't think later that we shouldn't have paid in bitcoin.

You can pay anything payable with bitcoin when their is available option of making a payment with bitcoin, secondly its obvious that when you have made up your mind to make a payment with bitcoin the recipient may not agree with you to receive a payment with bitcoin if it's not comfortable or familiar with bitcoin, secondly it's someone who knows the value of  bitcoin that will agree to receive a payment with bitcoin...for me, if I should have a business that I want to use Bitcoin for the payment I will as well agree for my customer to make a payment with bitcoin even though my country have not legalized using bitcoin for payment.

Paying house rent with Bitcoin is definitely not a bad idea because Bitcoin is a cryptocurrency that manages to maintain its value against inflation and allows very easy and fast money transfer between people. In other words, Bitcoin is a financial asset that can be used not only as an investment instrument but also as a means of payment.

Yes, perhaps the amount of Bitcoin that must be paid for 1,000 units of fiat currency today may be equivalent to 10,000 units of fiat currency in a few years but as long-term investors we also know that none of us will do something like not selling our Bitcoin investments until we die. For this reason, it shouldn't be forgotten that the person in question may earn his/her monthly income in Bitcoin or pay his/her house rent in Bitcoin as the investments he/she has previously made are highly valued.

Moreover, when I consider that as someone who earns income by trading short-term cryptocurrencies I regularly exchange a portion of my earnings every month for fiat currency and cover my life's expenses with the income I earn from this, there is also a reason why the house rent expense is paid with Bitcoin. I don't think there is a problem or mistake about this. So, I don't see any difference between a trader who trades short-term cryptocurrency and converts his/her earnings into cash and someone who pays his house rent with Bitcoin.

Finally, if the person I rented my house from offered to pay me the rent with any cryptocurrency I would accept it without hesitation because if the passive income gained increased in value, passive income would be created and earned through passive income.

Honestly man as long as you pay your rent you should be good. Plus of course you gotta make sure that your landlord's comfortable of getting paid in bitcoin, otherwise you might wanna run to the nearest exchange and get your bitcoins traded for fiat as your landlord's probably not gonna be so eager as to accept digital money, and will not be eager hearing or learning about it either when they could just get what they want without all the guessworks. Regarding paying for rent with bitcoin and how "stupid" it could possibly be, I wouldn't really say that. At the end of the day bitcoin's a cryptocurrency created to rival the fiat system and with that in mind you should've known that it's going to be used to purchase services and goods. If you isolate bitcoin as nothing but a way for you to increase your profits sooner or later the industry would die down as it loses all the sense and purpose for creating cryptocurrencies when they get stripped down into nothing but profit generators.

So yeah, there's some method to the madness of accepting a cryptocurrency not only as a store of value but as an alternate currency the country could use for payment and purchases, it's not inherently wrong or stupid and it's going to drive profit and economic growth even in most cases.

The fact that he wants to pay in bitcoin, then most likely he has store enough amount of bitcoin in his wallet and he has to spend some of it to save his fiat. There’s no wrong actually to spend bitcoin since it’s also a currency, and as long as the user will benefit from it, then that should not be our concern anymore. Regardless of what he will do to his bitcoin, that’s already part of his plan. And spending bitcoin isn’t a waste of money and time, that’s also an effective way to promote bitcoin and utilize it based on its original purpose, to act as a currency.

fiat will continue to have the same value and even tend to decrease due to inflation every year while bitcoin is different, the value of bitcoin will continue to change or fluctuate every day and tends to show significant price increases every year.
After a president who supports Bitcoin is elected, the euphoria of citizens towards Bitcoin will automatically strengthen. This also happened in El Salvador.
This could be a big breakthrough for the property business in Argentina and even in other countries. If this happened in my country, I would rent it out my house and accept payments via bitcoin or other secure cryptocurrencies.

Then it should be the same with buying things with Bitcoin as a whole.
Your thread made me realize something. Bitcoin has always been seen as an alternative, yeah, but then paying with Bitcoin for anything at all would be sacrificing future income/ interests also. So, it'll be better to convert the BTC into fiat before spending it. Then when the price pumps you won't lose your returns.

Thank you for the thread, didn't realize this till I read through. If this is so then, there's no need to fight for the adoption of BTC in my country cause even if it is adopted I won't want to pay with Bitcoin. I'd still pay with the legal currency. So, apart from the fact that the economy would improve after a while, there's no great need for the adoption of BTC, or is there?

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?

My question is why not ? Why paying house rent with bitcoin will not be appropriate. Any logical points? Yes that's true that the person if spent from his long term holding fund that can be inappropriate. But in general, if there is no transaction of Bitcoin, then the network of Bitcoin will not grow.  Bitcoin was invented for transactions and not just for holding, so in this case if there is an option to pay house rent through Bitcoin then it will be a great idea.
Also if I talk about myself then a large amount of my income comes from bitcoin payments and this fund is used for my daily activities by converting it to fiat currency firstly through PayPal exchange and then from house rent to other activities.  And due to currently not legalizing bitcoin in my country and miss the opportunity to pay in such option.

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.

That means it really depends on the perspective of the person both the payer and the recipient because as far as I can see not everyone is generally on bitcoin. But if it were me then if there was an option to pay house rent using fiat currency I would choose that method compared to paying using bitcoin. Currently, bitcoin is still an alternative currency, not used as a means of payment in general, so there are many limitations that need to be considered when paying house rent using bitcoin.

Bitcoin has unlimited value during the four-year cycle and the power of investing or holding it is much better than using it as a means of payment. Paying rent with fiat currency can provide convenience between owners and payments because not everyone is involved in bitcoin, especially in receiving payments.

We can say it's a good thing and a waste for the tenant, it just depends on our perspective and actually it will be a good one for Bitcoin since it will increase Bitcoin adoption and more people will acknowledge Bitcoin on the other hand the tenant only spend a few Bitcoin for a good purpose which means more adoption. If we want to Bitcoin to grow we should support anyone who wants to pay with Bitcoin or anyone who accepts Bitcoin as payment.

I also don't think it is bad idea paying house rent with bitcoin if there is the opportunity to pay. Because bitcoin is also a currency if everyone hold bitcoin then what is the value of it ? So I think paying house rent with bitcoin is obviously appropriate and also appreciated from me. The problem will there if anyone pay from their holding amount of bitcoin . others wise it's a good idea to paying on it rather than converting it to fiat and then pay.

I posted a similar explanation on another thread, and I think it applies to this one...

Take, for example, people who live in countries where currency there is very volatile who keep their wealth in an offshore account, and transfer only the money they need in their sovereign currency that day or even minutes before a purchase. You can also imagine having a credit card that draws from an investment account, wherein your wealth is stored in whatever instrument you want and everything will be handled for you behind the scenes vis a vie the exchange rates.

With credit cards and the Internet, one can imagine a the "UI" for your money always being displayed in some measure of wealth you can understand, e.g. US dollars for instance (and yes, this is exactly what we're doing at Haypenny with the USDE mechanism).

Most people aren't able to abstract a difference between their payment mechanism, their wealth store, and their measurement mechanism ("how much does it really cost me?"), but this is exactly what you need to do in order to understand today's globalized world of finance.

And in this world, Bitcoin and cryptos are speculation instruments, not payment mechanisms. Currency that can viably be used for payment e.g. US dollars or (eventually) Haypenny currencies are all both investments and payment mechanisms. In other words, if you hold Euros, you are essentially investing in Euros, and you can also broadly make payments in directly Euros, etc.

So in summary, there are three different things an instrument can give you:

1. A means of speculation, e.g. an investment you surmise will go up in value.

2. A means of transacting with others ubiquitously.

3. A means of understanding the value, in your own terms, of a given transaction (e.g. converting it to USD or whatever your "native" currency is that your own brain to "keep score").

Bitcoin and cryptos do #1 only, practically speaking.

Haypenny does #1 and #2 (and it's UI allows you to do #3 in USD specifically).

Traditional currencies do all three.

So if you understand that, the right answer to this thread's question is:

Use Bitcoin as an investment, and convert it to whatever currency your landlord requests each month. There's no advantage in transacting with them directly in Bitcoin, and lots of disadvantages e.g. slow, expensive, and inconvenient.

Paying house rent with Bitcoin can have advantages and risks. Some advantages include the potential to obtain Bitcoin without using cash and attracting tenants who prefer using cryptocurrencies However, there are also risks to consider. For instance, the volatility of Bitcoin can lead to fluctuating rental amounts, and it may take time to convert Bitcoin to cash, which could affect timely expenses such as mortgage payments. Additionally, Bitcoin is vulnerable to hacking and is not widely accepted for expenses like traditional currency Therefore, landlords should carefully weigh the benefits and risks before deciding whether to accept Bitcoin as a rent payment,  It's important to consider the potential impact on expenses, cash flow, and financial stability.