Paying house rent with bitcoin is it appropriate? - page 4.

MarjorieZimmermanGinger

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Quote from: kro55 on January 17, 2024, 11:03:03 PM

I see some people are advocating using bitcoin as a payment method but I really want to ask. How many people have used bitcoin as a payment method instead of fiat currency or are people just trying to show support for the idea but never doing it?

Especially in my country that would never happen because using bitcoin as a means to buy is something rare and difficult for most people to accept. Not to mention talking about transaction costs and people's lack of understanding in making transactions using this method.

Quote from: kro55 on January 17, 2024, 11:03:03 PM

If we need to make international payments or cross-border money transfers, bitcoin is certainlychoice superior and a better choice than the traditional currency system but for daily bill payments, fiat is still the better choice.

That's a different story because using bitcoin payments across international borders would be much more profitable, but when it comes to daily payment methods for purchasing multiple products it's highly unlikely and I'm pretty sure people will choose fiat as usual. Moreover, bitcoin will be much more valuable when stored for a long period of time because we can make a profit rather than using it as a transaction tool.

AicecreaME

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We can't say that it was a mistake because it is not even our Bitcoin and it's not our business to decide what to do with the Bitcoin of other people.
It might be a waste of opportunity to others, but maybe that someone has a valid reason why he did spend his Bitcoin to pay a house rent, (1) For experience, (2) maybe he just don't have any money on that period of time. For me, as long as you spend it on the things you need, it will never be a waste.

batang_bitcoin

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Quote from: ndutndut on January 20, 2024, 05:23:48 AM

Quote from: batang_bitcoin on January 20, 2024, 03:46:07 AM

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

Paying for a house with bitcoin sounds to me a mistake or lack of financial knowledge.

Don't think like this, paying with Bitcoin for anything that you need is worth it. What makes you stop is the value of it might increase paying but please do remember that if something has been able to get filled because you've paid using Bitcoin, don't feel regret on it.
That's actually the purpose of Bitcoin why satoshi made it and that's for peer to peer transactions with merchants like this. Both of you get to enjoy the monetary value of Bitcoin and its features too.

Yes that's right. I don't see any harm in paying for a house using Bitcoin. If both parties agree, what's wrong with that? Both parties certainly benefit, both those who pay with bitcoin and those who receive bitcoin, of course with transactions like this both already know about bitcoin which means this transaction can be carried out. I assume that even if a person pays for a house with bitcoin it means he has a lot of bitcoin so he thinks that rather than selling it in fiat then paying for the house will incur additional costs because of the buying and selling process. Likewise, those who receive payments in bitcoin, maybe they want to invest in bitcoin, that's why they choose to be paid using bitcoin. So I mean there's nothing wrong with bitcoin being used as a buying and selling transaction, after all bitcoin is also money.

We can see that regret from OP that it's like a waste investment for him. That's fine because all of us treats Bitcoin as an investment but don't forget that it's also being used as payment. How the adoption will grow if no one's going to spend it? We have to spend it and that's in anyway that you are comfortable, could be to trade for another currency which is the common but it's better if there are services that you can pay directly with Bitcoin.

lizarder

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

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 prefer bitcoin to be used as an investment asset compared to a means of payment and perhaps the reason is quite simple because there are many places that do not yet accept bitcoin as a legal means of payment. Even if there is a place that accepts purchasing goods or services using bitcoin, I personally prefer to use fiat currency. Bitcoin has a value that can exceed the limit when ATH comes and spending something using bitcoin we lose the opportunity to reach its highest value even though any purchase is not in the large capacity of bitcoin.

But in the end it comes down to each individual and how they fully consider purchasing using bitcoin to provide convenience. But if I could choose, I prefer to use fiat in any shopping because we have the opportunity to hold bitcoin until it reaches the next ATH because that's actually our goal to accept bitcoin as one of the best assets ever in the crypto space.

snowpega

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Paying house rent using Bitcoin has both pros and cons but it depends. well let's make a scenario where you are paying rent for your house and your house rent is 200$ and you have an amount in BTC is 150$ which means the insufficient amount and you have only 10 days left to pay your house rent to the owner well in some days BTC prices goes up and it makes you money now you can pay off you hose rent which can be counted as its advantage. But the thing is you have to convince the owner to accept the BTC payment because if the BTC price falls owner has to face the loss in dollars he accepted as house rent in BTC so both vary here pros and cons as well.

ndutndut

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Quote from: batang_bitcoin on January 20, 2024, 03:46:07 AM

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

Paying for a house with bitcoin sounds to me a mistake or lack of financial knowledge.

Don't think like this, paying with Bitcoin for anything that you need is worth it. What makes you stop is the value of it might increase paying but please do remember that if something has been able to get filled because you've paid using Bitcoin, don't feel regret on it.
That's actually the purpose of Bitcoin why satoshi made it and that's for peer to peer transactions with merchants like this. Both of you get to enjoy the monetary value of Bitcoin and its features too.

Yes that's right. I don't see any harm in paying for a house using Bitcoin. If both parties agree, what's wrong with that? Both parties certainly benefit, both those who pay with bitcoin and those who receive bitcoin, of course with transactions like this both already know about bitcoin which means this transaction can be carried out. I assume that even if a person pays for a house with bitcoin it means he has a lot of bitcoin so he thinks that rather than selling it in fiat then paying for the house will incur additional costs because of the buying and selling process. Likewise, those who receive payments in bitcoin, maybe they want to invest in bitcoin, that's why they choose to be paid using bitcoin. So I mean there's nothing wrong with bitcoin being used as a buying and selling transaction, after all bitcoin is also money.

Hewlet

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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.

when I see people suggesting that they used or intend using bitcoin to buy something or pay off for a particular commodity, it amazes me seriously. On a very serious note, the rate of awareness and acceptance of bitcoin hasn't gotten to the stage where you can just you it to offset certain bill. In my locality for instance, most land lords and house owners are aged individuals that don't know much about bitcoin and won't even think on accepting it in the first place as a I'ment for getting their house.

Some people in my locality have not even accepted saving their money in the banks and telling them about bitcoin would be a complex stuff for them.

Until the government officially accept bitcoin use throughout the nation, paying for anything with the use of Bitcoin is still far from reality

batang_bitcoin

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

Paying for a house with bitcoin sounds to me a mistake or lack of financial knowledge.

Don't think like this, paying with Bitcoin for anything that you need is worth it. What makes you stop is the value of it might increase paying but please do remember that if something has been able to get filled because you've paid using Bitcoin, don't feel regret on it.
That's actually the purpose of Bitcoin why satoshi made it and that's for peer to peer transactions with merchants like this. Both of you get to enjoy the monetary value of Bitcoin and its features too.

Fivestar4everMVP

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Quote from: 0t3p0t on January 20, 2024, 02:02:15 AM

If that guy is a Bitcoin spender then it does not matter to him as long as the landlord accepted that payment method. I think he prefers to comply with the Legendary Satoshi Nakamoto's idea about Bitcoin as a new kind of money therefore he used it on what it is intended to be. For investors spending their Bitcoin is not an option here so yeah it depends on us whether how we use Bitcoin on our daily lives.

Well, I guess I don't have to hide to say that that satoshi's vision of bitcoin being a kind of money that could be spent on common things and needs of life has died, though not a bad death but a good one, since it looks like bitcoin has moved on from that course to a bigger one, which is that it is now an asset we all can invest in, and make profit, and we can also buy and sell it, and also make profit.

Very minimal persons are still using bitcoin to pay for goods and services, like I myself only used bitcoin ones to pay for something, and that was in 2022, and right now, I will never use bitcoin again to pay for anything, not when we now have usdt and other stablecoins around, and even some other altcoins that are less volatile, bitcoin to me has become an asset, and assets are not spent on goods and services, they are kept as investment for the future.

0t3p0t

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If that guy is a Bitcoin spender then it does not matter to him as long as the landlord accepted that payment method. I think he prefers to comply with the Legendary Satoshi Nakamoto's idea about Bitcoin as a new kind of money therefore he used it on what it is intended to be. For investors spending their Bitcoin is not an option here so yeah it depends on us whether how we use Bitcoin on our daily lives.

SeriouslyGiveaway

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I think we don't need to be too strict about what to pay. In short, Bitcoin or cash is just to serve our lives. If they determine that the Bitcoin is used to pay for expenses in life, then it is completely normal. Who knows, maybe they still have Bitcoin as a form of storage asset and do not use it for any other purpose.
There is no need to argue about the value of Bitcoin, but if you just hold Bitcoin without doing anything, and don't really enjoy what Bitcoin brings you, are you being too strict with life itself? yours? Everything becomes worthless if we or our loved ones are no longer there.

Lorence.xD

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Quote from: Ryu_Ar1 on January 19, 2024, 04:35:02 PM

I think it's still a pretty good idea and it's not a financial mistake because the purpose of bitcoin is also not as a payment option even though they are currently more dominantly used as an asset for investment but we also can't forget that bitcoin is a tool that was created and one of its purposes is as a means of payment even though it is only based on alternatives.

If indeed both parties are comfortable between buyers and sellers who do not have problems with payment via bitcoin then I think it will not be a problem and it is also not a mistake from finance because they consciously know that it can still be done as long as in their country there is no prohibition for such things.

Indeed, it might only apply to places where most people are aware of Bitcoin's existence because they are used to fiat payments, especially for old people. Plus they don't want to hassle themselves with using Bitcoin since you would need to transact via the internet or the gadgets and you really need knowledge cause there is still a possibility that you might lose your funds. Bitcoin is meant to be made for payment and transaction in the first place, but currently with its volatility and today's value people prefer to hold it to profit. Just imagine your rent is $1000 and once you send it, the value would be $800 due to volatility, unless the receiver would agree since he is a holder.

uneng

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

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?

You have to take into consideration that the person may already be a Bitcoin investor for a long time, so he isn't purchasing Bitcoin to buy or rent a house. He already has Bitcoin and will use it as currency. Strange would be to have BTCs and exchange them into fiat to purchase or rent a house, because it would involve extra costs with transactions and exchanging fees. Unfortunatelly, due to not having many offers of houses for sale through BTC payment method, that is what Bitcoin investors are forced to do in order to achieve the dream of the self-owned house, or even to pay for a rent.

Bitcoin is available to be used for everything fiat is used for. There isn't any contraindications. If you can hold Bitcoin for future gains, good for you, but some people have to use their coins in order to pay for a living, food, bills and so on... For many young people, renting a house is necessary, especially when studying and working far from their families.

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

Accommodating the Bitcoin can birth the person more money to pay his next house rent.

If you can buy the house, it's great. However, not everyone has enough money to do so, therefore renting might be their only alternative for now.

TimeTeller

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Quote from: Mate2237 on January 19, 2024, 05:07:02 PM

Op the person that pay the house rent Bitcoin is more knowledgeable on Bitcoin than you. What is the core meaning and the creation of Bitcoin. It is a peer to peer digital currency which is meant to buy and pay things online so what the person is on the confined of the creation of Bitcoin and not out of point. Yes Bitcoin is better than the fiat currency but if the receiver of the transaction agree to receive with cryptocurrency then and if the sender has it then he can send it to the receiver because there are sometimes the transaction process is cumbersome, the process is long and delayed so to make it faster the sender will just send it directly to the person address without using third party.

Argentina is cryptocurrency friendly Nation so a large number of people are using Bitcoin so it is easy to pay with bitcoin than Bitcoin.

In this kind of decision, it relies on the user and receiver of the btc transaction.
If they feel they are doing this for convenience purposes, then, for me, there's nothing with it.
So long you know what you are doing and you feel you are taking advantage of the features of btc transaction, are all that matters.
A lot of people feel it is being wasted because of the potential to gain profit in the market, however, it is on you if you will utilize
btc to other valuable purposes like paying for something that you need or want, and you are happy about it.

Mate2237

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Op the person that pay the house rent Bitcoin is more knowledgeable on Bitcoin than you. What is the core meaning and the creation of Bitcoin. It is a peer to peer digital currency which is meant to buy and pay things online so what the person is on the confined of the creation of Bitcoin and not out of point. Yes Bitcoin is better than the fiat currency but if the receiver of the transaction agree to receive with cryptocurrency then and if the sender has it then he can send it to the receiver because there are sometimes the transaction process is cumbersome, the process is long and delayed so to make it faster the sender will just send it directly to the person address without using third party.

Argentina is cryptocurrency friendly Nation so a large number of people are using Bitcoin so it is easy to pay with bitcoin than Bitcoin.

Odusko

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Argentina happens to be one of the most Bitcoin friendly country around the world and for sure I am not surprised to see this development coming in from Argentina paying for House rent with Bitcoin should be one of the major thing in Argentina and other Bitcoin friendly countries right now, I guess the most anticipated thing for most Bitcoin daily users right now is how to see enhancement in Bitcoin scalability, such as in the free network and less congestion with minimal fees.
Because that is the only way we can achieve that Bitcoin scability that we deserve many times, Bitcoin users are confronted with high fees and long wait period, this doesn't help the Bitcoin acceptance or usabilities in most cases, but then it will be good to see how we can daily freely use Bitcoin to make daily transactions and payments such as in this case.

Fatunad

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Quote from: Wakate on January 19, 2024, 10:31:50 AM

Quote from: Z-tight on January 18, 2024, 10:36:00 AM

Quote from: fuguebtc on January 18, 2024, 09:38:34 AM

I think OP didn't mean it like that , he just wanted to say that using bitcoin as a means of payment is not appropriate and it is more suitable to use as an investment .

Even that idea from the op is very wrong, BTC is p2p electronic cash that is censorship resistant and permissionless, it was created to be used as a payment method and using it that way means you are promoting its original use case. Due to growth BTC now has many use cases and i understand that too many people want to make returns from storing it for a long time, but that should not take away the reason why it was created, which is for it to be a currency that's controlled by nobody.

At first you need to read what you have written so far and please take a swift comprehension of it. Just fro.what you have analysed, Bitcoin was created to be use for transaction and payment of services so why do you think it was very wrong for him to actually want to follow that path. Bitcoin is not even supposed to be keep or hold for too long if not that many investors see h go as a way of personal Investment. Some traders see Bitcoin as an asset that can be hold for a very long time that is why we see people holding it for as long as they want so that they can make profits from it when the price goes up.

Those kind of words does really shows on how those people who do lack knowledge and awareness about Bitcoins true utility then they would normally be having those kind of
assumptions that it is really just that meant for holding and not for spending on which they are really that very wrong with that kind of intellect or assumption on things on which we do know that it isnt right.
We do know that if we do tend to look up on its WP then it is really that meant to be used for p2p transactions on which if someone do really consider out on making use of it as a payment option
then it would really be just that depending if ever a service or someone would really be having those plans on accepting it.

For you to be able to possibly be able to pay up something with Bitcoin payment or someone really tends to receive then it would really be just that right that you would really having that good impression.
It is really just that there are people who are really that skeptical when it comes to spending their coins because they do know about its potential
when it comes to increasing investment or profits and this is why they do really have this kind of hesitation on spending their coins.

Ryu_Ar1

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I think it's still a pretty good idea and it's not a financial mistake because the purpose of bitcoin is also not as a payment option even though they are currently more dominantly used as an asset for investment but we also can't forget that bitcoin is a tool that was created and one of its purposes is as a means of payment even though it is only based on alternatives.

If indeed both parties are comfortable between buyers and sellers who do not have problems with payment via bitcoin then I think it will not be a problem and it is also not a mistake from finance because they consciously know that it can still be done as long as in their country there is no prohibition for such things.

Russlenat

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It depends on the agreement between the renter and the house owner. If the renter also wants to share his bitcoin to its landlord and the latter agrees on it, then it’s certainly a right move for the two. At least, the landlord will also have the chance to own bitcoin that will be more valuable in the future than fiat. As long as he knows how to keep it safe and seeing it grows, then it’s certainly a right decision to accept bitcoin as a house rental.

On the other hand, paying bitcoin for house rental means you lose the chance to hold a valuable asset. But bitcoin is not just about keeping and hodling it, you need to spend it at least for your own advantage.

Shamm

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Honestly it depends on the process of both people involves on the negotiation as we all know that there's nothing wrong If the owner of the house you've renting is accepting Bitcoin and you have Bitcoins too so the transaction will fast and smooth. Anyways nowadys there are many people around the globe who are aware in Bitcoins and they accept for payment.

Topic: Paying house rent with bitcoin is it appropriate? - page 4. (Read 1352 times)