Topic: Paying house rent with bitcoin is it appropriate? - page 6. (Read 1286 times)
Personally I won't pay rent using bitcoin, considering the fact that the price of BTC is not stable. I understand that they may be paying the rent using the current market price, but for me, I don't think it will be a good idea.
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.
They haven't agreed on a fixed payrate in Bitcoin, instead, they agreed on a monthly $100 that will be converted Bitcoin at the end of the day and person will pay the amount of bitcoins that equals to $100 the day when it's time to pay. It's a win for both parties. The one holds Bitcoins and sends bitcoins each month, i.e. if price grows up, he pays less and less Bitcoins while the house owner receives and hold Bitcoin instead of fiat, i.e. saving the fees that you have to undergo to buy Bitcoin via fiat.I assume that House owner plans to hold Bitcoin long-term and doesn't plan to convert it into fiat at the end of the month.
That is your choice to pay with BTC or fiat because, you can decide to pay your house rent with fiat for your landlord to issue you receipt as a form of evidence that show you have fulfill your payment for the month or year, but if the landlord give you some condition that you should pay the house rent with BTC, is your choice because you can see some house where you can pay with fiat.
But I don't think I will pay house rent with BTC because it will look to me as a wast of BTC because, the price of BTC can rise or fall at anytime which it will be a risk to me to take such decision to pay house rent with BTC.
But I don't think I will pay house rent with BTC because it will look to me as a wast of BTC because, the price of BTC can rise or fall at anytime which it will be a risk to me to take such decision to pay house rent with BTC.
The only mistake when you invest in Bitcoin is, you don't want to sell or spend it. 
Let's accumulate Bitcoin, you work very hard when you were young and you try to invest as much as you can. When you 20's you have 1 BTC, when you 30's you have 10 BTC, when you 40's you have 100 BTC, when you 50's you have 1K BTC, when you 60's you have 10K BTC and then you dead without enjoying your own hardwork.
It's the life that you want?
Let's accumulate Bitcoin, you work very hard when you were young and you try to invest as much as you can. When you 20's you have 1 BTC, when you 30's you have 10 BTC, when you 40's you have 100 BTC, when you 50's you have 1K BTC, when you 60's you have 10K BTC and then you dead without enjoying your own hardwork.
It's the life that you want?
First, both parties in this leasing agreement are experienced crypto users, indicating a shared grasp of Bitcoin's potential and volatility. This is a planned move by crypto experts.
Argentina has high inflation, which devalues fiat currency. A rental agreement tied to a stable asset like Bitcoin might hedge against inflation. Bitcoin's value could rise, but its also about shielding financial assets from local currency inflation.
MOreover, Tenant and landlord show their cryptocurrency support by accepting Bitcoin payments. Its financial activism showing their trust in Bitcoin as a viable and stable currency. Not just for financial benefit, but to support a system they believe in. Their acts reflect the trend toward decentralized financial systems.
Argentina has high inflation, which devalues fiat currency. A rental agreement tied to a stable asset like Bitcoin might hedge against inflation. Bitcoin's value could rise, but its also about shielding financial assets from local currency inflation.
MOreover, Tenant and landlord show their cryptocurrency support by accepting Bitcoin payments. Its financial activism showing their trust in Bitcoin as a viable and stable currency. Not just for financial benefit, but to support a system they believe in. Their acts reflect the trend toward decentralized financial systems.
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, exchanging bitcoin with other services. Do you think if bitcoin can't be exchanged with Fiat or bitcoin is not a digital currency acceptable the landlord will accept it, that acceptance is the beauty of it. If it's not acceptable or can't be traded for other purposes then is of no value. The value of any currency it's because it can be tendered legally anywhere if accepted which crypto currency (bitcoin) is acceptable in so many part of the world. In sports so many athletes accepted to be paid in crypto (bitcoin) and tickets are bought in crypto (bitcoin) to go and watch games.
The importance of investing and accumulating crypto
currency (bitcoin), is for profit and to use it meet up ones need . What is the essence of having what that can meet your need without using it, if it's acceptable.
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.
Bitcoin is only a digital currency that is currently used optionally, as legal payment for countries that adopt it and has become a commodity currency in several countries that do not provide full regulation. Overcoming the problem of world inflation certainly cannot be done with Bitcoin alone, it is a big and complex problem so Bitcoin is not the only solution. There are indeed various factors that influence it.Gold is also a very good inflation hedge asset no less than bitcoin, but the fact that it has existed for thousands of years has not helped reduce inflation around the world. So we should stop being naive or over-exaggerating the power of bitcoin on our world. As I said, bitcoin will be a hedge against inflation and it will work for those who hold it, and world inflation is a more difficult problem and requires more factors to solve. But in my opinion, inflation is an inseparable part of the world economy and there is no way to completely prevent inflation.
For me if there is an option then using payment with fiat currency would be much better, compared to paying for something using bitcoin.
I will do the same thing as you. Although bitcoin was created to be a peer-to-peer currency, with its price volatility and high transaction fees, it is not really suitable to be used as a means of payment.
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?
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.
paying house rent with bitcoin is not a mistake or lack of financial knowledge, but it just puts what is a priority now. if someone pays their house rent using bitcoin, it means that they understand what they are doing and are ready to accept the risk that they will lose the potential profit they will get in the future.
The only way I would consider paying rent with Bitcoin would be if I had already reached a stage in my accumulation that would allow me to live off it without working for the rest of my life, which at current prices would be like having 40 Bitcoins. Only then would I prefer to spend significant amounts of Bitcoin on a regular basis. I don't see much point in spending Bitcoin and keeping the fiat currency. Least of all in Argentina, which has one of the worst currencies on the planet.
paying house rent with bitcoin is not a mistake or lack of financial knowledge, but it just puts what is a priority now. if someone pays their house rent using bitcoin, it means that they understand what they are doing and are ready to accept the risk that they will lose the potential profit they will get in the future.
moreover, not all bitcoin owners are just holders who hold their bitcoins in their wallets for a long period of time, there are also some who invest but at the same time use a few percent of what they hold for their various needs because maybe they have made enough profit.
moreover, not all bitcoin owners are just holders who hold their bitcoins in their wallets for a long period of time, there are also some who invest but at the same time use a few percent of what they hold for their various needs because maybe they have made enough profit.
Obviously this is a good idea, after this transaction occurs both parties benefit. The first party (home renter) pays Bitcoin according to the current trading price with an amount corresponding to the price determined by the second party (home owner). The second party can save and collect as many Bitcoins as possible without having to exchange them again, clearly this is a very profitable business.
This idea is the same as when you receive services in the form of Bitcoin or receive payment using Bitcoin after a customer buys something in your shop. At the time of the transaction, no party feels disadvantaged, you receive Bitcoin in the amount according to the price you sold, while the buyer does not have to bother exchanging Bitcoin and then paying you with fiat, that's the logic according to my understanding.
This idea is the same as when you receive services in the form of Bitcoin or receive payment using Bitcoin after a customer buys something in your shop. At the time of the transaction, no party feels disadvantaged, you receive Bitcoin in the amount according to the price you sold, while the buyer does not have to bother exchanging Bitcoin and then paying you with fiat, that's the logic according to my understanding.
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.
Whether it's appropriate or not only the person concerned knows, in El Salvador there may be many things that can be purchased using bitcoin, so is it appropriate or not? We rarely find house rental payment transaction channels using bitcoin unless you visit El Salvador, but if you visit other places, fiat currency will still be the main priority in terms of payment. So the issue of appropriateness may have to be looked at in a particular place and if it can be paid using fiat why should you pay using bitcoin.Bitcoin has a stronger ability as an investment asset because it is related to value and when someone takes a payment step using bitcoin, it means the value will adjust to the current price. For me if there is an option then using payment with fiat currency would be much better, compared to paying for something using bitcoin.
From what I understand you’re saying that he should rather pay in fiat as the value of Bitcoin would rise and he can enjoy the benefit. Reading the article, I can see that the agreement stated is $100 in Bitcoin. Now, $100 in Bitcoin is just as paying in fiat because when he makes the payment, he will be paying $100 and not a specific amount of Bitcoin. So, he can invest in Bitcoin and pay for the rent with the gains he makes because after all, all he has to pay is simply $100. Anyway, this is good to hear… I am wondering whose idea it was, if it is the landlord or the tenant.
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.
We all have different opinion, spending crypto doesn't mean that you are lacking on financial knowledge.Some people see it as a currency while most of us see it as an investment tool, it all depends on how you see it.
To be honest I used to spend crypto like fiat before buying mobile load or paying for something.
I know that crypto or Bitcoin has a potential to grow but that doesn't mean that we couldn't use it as a currency.
There was no financial mistake here, and it would be ideal if the two parties had already reached an agreement before paying the house rent in bitcoin. Bitcoin's primary purpose was to aid in financial transactions rather than for investment purposes, but its volatility has prompted people to look into it further. To me, paying in fiat or bitcoin is the same thing because the value of the house in fiat will not remain constant for years, and the value of bitcoin can change, which may or may not benefit the landlord who will hold the bitcoin with which he was paid the house rent.
You are actually right. The original purpose of Bitcoin was for it to serve as an alternative means of digital payment that is why Bitcoin has divisibility as one of it's features. Not until people discovered that it is a great store of value. They saw additional value in it and started hodling the coin. If we keep complaining about those who use Bitcoin to make payments, then the whole purpose of introducing the coin will be defeated. There is nothing wrong with paying rent with Bitcoin, provided the rent value in Bitcoin and in Fiat are equal and there is mutual agreement between the two parties involved. The people are wiser now, at least he won't be paying 10,000btc for the rent like the pizza guy
. All BTC transactions can be done using the fiat value. 
There was no financial mistake here, and it would be ideal if the two parties had already reached an agreement before paying the house rent in bitcoin. Bitcoin's primary purpose was to aid in financial transactions rather than for investment purposes, but its volatility has prompted people to look into it further. To me, paying in fiat or bitcoin is the same thing because the value of the house in fiat will not remain constant for years, and the value of bitcoin can change, which may or may not benefit the landlord who will hold the bitcoin with which he was paid the house rent.
It is not a bad idea to purchase good things with with but with will only be a bad idea if someone sold his or her house to buy Bitcoin, why? Because a day might come when the price of Bitcoin will reduce and if the person that sold gis or her house to buy do not have the mind of holding he will rish and sell them thinking that Bitcoin will not rise again or it will take enough timr for it to increase (but that's wrong).
No matter what, Bitcoin will still be used some day, because as everyone is putting in their mind for profits, they will definitely sell their coins some day, but the important thing is for them to use it and do something good like putting it in any business and gaining some assets.
I agree with you that bitcoin can't be held forever, the reason why we hodl is to make profit and someday bitcoin will be spent. The holder knows what to spend bitcoin on that will be good. OP thinks using bitcoin to pay for rent fee is bad, what of the man who used bitcoin to purchase just a pizza, one would think this is crazy but I think people have the right to use their bitcoin anyhow so far as it gives them joy in spending it and no regret. If people can give bitcoin as gift that means bitcoin used on anything. No matter what, Bitcoin will still be used some day, because as everyone is putting in their mind for profits, they will definitely sell their coins some day, but the important thing is for them to use it and do something good like putting it in any business and gaining some assets.
This is actually just a transfer of value, and any payment can actually be made with Bitcoin as long as Bitcoin's BTC liquidity is still good and there are no regulations that prohibit sending Bitcoin from one wallet to another in the relevant country.
Buyers or sellers can easily estimate the value of transactions that occur by looking at market prices, which means that for both sellers and buyers, Bitcoin transactions are only a cover, while their aims and objectives can vary, one of which is only to transfer money value.
The seller receives Bitcoin, then immediately sells it on the market for FIAT if the seller wants cash. Finished.
Buyers or sellers can easily estimate the value of transactions that occur by looking at market prices, which means that for both sellers and buyers, Bitcoin transactions are only a cover, while their aims and objectives can vary, one of which is only to transfer money value.
The seller receives Bitcoin, then immediately sells it on the market for FIAT if the seller wants cash. Finished.
By the way, I think people are missing the forest for the trees here in terms of paying your monthly rent with Bitcoin: you cannot know how much to pay without making reference to some actually stable value source e.g. a sovereign currency, e.g. US dollars for instance.
In other words, if one were to rent a house to somebody only by referencing Bitcoin alone, how much would they charge? How would they discover the price? And most importantly, how could you even do this when the price of Bitcoin is so volatile?
I'm all for fun academic conversations--that's what forums like this are for--but if you get real about this, you... pay your rent with good old US dollars (in the US for instance) or some mechanism that directly references them.
In other words, if one were to rent a house to somebody only by referencing Bitcoin alone, how much would they charge? How would they discover the price? And most importantly, how could you even do this when the price of Bitcoin is so volatile?
I'm all for fun academic conversations--that's what forums like this are for
--but if you get real about this, you... pay your rent with good old US dollars (in the US for instance) or some mechanism that directly references them. 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.
You seem to be forgetting the main purpose of btc to serve as an alternative digital currency against fiat. I don't see anything inappropriate in it except may value more in future than at the price it was traded.
The point is, to some, using btc to make payment is more satisfying than just keeping it as asset to be valued in later years.
It is individual choices, some core bitcoiners wants to be able to spend their btc on anything and boycotting fiat completely.
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