Topic: Paying house rent with bitcoin is it appropriate? - page 9. (Read 1276 times)

From the perspective of Bitcoin as a currency, it is not wrong for people to pay house rent with Bitcoin. From the perspective of Bitcoin as an investment, it might be a shame if an asset that has value is paid for in rent.
In countries that allow Bitcoin as a means of payment, Bitcoin can be used according to individual wishes if they think using Bitcoin is a better thing to do, of course it is not a strange thing because Bitcoin is a currency of freedom with a system that makes it easy.

I think it's a thing of choice and like you said there need to be a consensus agreement between the tenant and the landlord as to whether he's ready to accept the mode of payment. Bitcoin is just like any other currency and if that's the only asset you have in your wallet, you can decide to offer it to the landlord if he's okay by it. Otherwise, you can just swap it to his most preferred currency and send it to him. For instance, if I was the one, if after asking the landlord, he agrees to it, I can decide to send it to him via USDT since he may want to have it valued in a more stable currency or something as equivalent as the dollar.

Yet, it all depends on the value of the house rent. Let's say for an example, let's say my house rent is calculated monthly and I'm meant to pay just around 65$ monthly which is equivalent to 0.001492 BTC, I will personally request that I send him the money in USDT rather than sending him in Bitcoin so that we don't have issues of miscalculation with the landlord. It is solely for that reason.
 

You know everything boils down to the relationship established by the landlord to the tenants which is majorly their understanding of themselves. If both of them (the tenant and the landlord) do agree with the knowledge of the volatility of the bitcoin market and agree not to hold each other responsible when there's market fall or rise, whether bitcoin faces a bull or bear run, but agree on working with making the payment with the value of the bitcoin market whether up or down, then, they can go ahead with the payment in current bitcoin market price, whether it is monthly or yearly and whether profitable or non-profit.

LOL, calling Bitcoin "non-inflationary" is like calling sports betting "non-inflationary".

True. even myself would really be that skeptical on making use of my Bitcoin into those transactions on which i could really definitely be able to do on paying up fiat, just like you've said that
we would definitely be able to see about its potential on rising up its value overtime on which it is really just that a waste that you would really be making use of your own coins on which
you do know or wary that it could increase up its value over time. It would be more worth if you do just simply hold it and accumulate it on which it would be that something beneficial
in the future.

Yes, when it comes to its utility or usage then it is really that meant for circulation but it would be that a wasteful thing that you would really be missing out on making
money or profits on just simply holding it.This is why it would be best that you should really be going into those things on which it would benefit you.

The paradox with Bitcoin is that while it had many unique features compared to other formed of money, people don't want to spend it.
If your source of income is in dollars, you'd rather want to spend them as they are they inflationary form of currency that's going around.

The so called 'stacking sats' mentality is prevalent among bircoiners for a reason. Bitcoin being non-ifationary gives more of an incentive to be held than to be spent. So really buying a house with BTC to most would sound absurd. Is it advisable though? Highly depends on each person's financial status. Can't answer this question on a general frame imho.

I don't think there's anything wrong with paying rent using Bitcoin. And there is no difference in paying house rent using Bitcoin or fiat because the nominal price to be paid remains the same and according to the agreement, and both parties have a Bitcoin wallet for transactions.
Maybe Bitcoin is faster than a bank transfer, and maybe it's also faster than a bag full of cash, assuming it's worth the math. Bitcoin is a transaction that makes up for the shortcomings of fiat and is also more secure, transparent and convenient.
You must support Bitcoin being used as a means of paying for house rent and so on, because adoption is what must be done so that everyone knows about Bitcoin, both its functions and benefits.

Bitcoin was created or meant of its existence on having that p2p transaction on which there would really be no 3rd party intervention on which it isnt really that bad for it to be used into these kind of transactions as long both parties do really have that kind of agreement on which it would really be totally that giving that real essence of its existence. Although people would really be that skeptical on doing it because we do know that when it comes to increasing value then we do really know that it could really that possibly be able to increase into the future years to come on which it would be that normal that we would really be having those impressions that it is really just that a waste if we would really be making use of it on the time that we could really be able to make use when it comes to fiat on which i could say that it is really just that right that as much as possible
then we could really be able to make use of it and would be more worth if we would be holding our Bitcoin and make use of fiat as much as possible even into these kind of casual transactions on which it would be
much more worth or better.

Why are people finding it so hard to understand that Bitcoin is not just an asset but also a currency? I don’t see anything bad in using Bitcoin as a currency, this should be its primary purpose. People who claim otherwise are only feeding the narrative that Bitcoin is just one form of digital gold. We want bitcoin to be accepted as legal tender in our countries but are unwilling to spend bitcoins in the marketplace. What will the future of Bitcoin look like if everyone decide to hodl Bitcoin and not spend it?

I don't think renting is the way to go if we want to achieve financial freedom. There are benefits for renting and it gives more freedom, but long term owning a property should pay off much more financially. The best would be if we can get a house or big apartment for one bitcoin in our country. It's nice to live inside your own walls as long as the bitcoin price is not reaching a new ATH. If the price jumps up another 30-40k USD you could have bought an even bigger house. That is why I would never sell all my coins, I made this mistake in the past and will never do it again. If I had one BTC today I would sell at most 35-45% of it to make the down payment for an apartment. The rest I am definitely going to keep holding. As for my country, it would be possible to buy a new car for that money right nor, but it doesn't make any financial sense. A new car loses it value so fast and there is no upside potential with owning a new car compared to my current car. With real estate we can have a huge upside potential if we buy at the right time and hold it long enough. Its all about what we think is going to perform better in the near future.

Although it might not be a smart decision to pay for the house rent with Bitcoin but your reason is not right in my view. So, let me start with my reason for the move not being the smartest. I believe that fiat is the best when it comes to such payments because it will save you the transaction fee to send it and the conversion fee as well. This is more important if the person is earning in fiat and not in Bitcoin, but if the person is earning in Bitcoin, the issue is lessened even though he will still pay more if my style of transaction is used to judge it which I believe is the same with everyone.

But with your reasons, you never considered the opposite as well. Let's take it one after the other. You claimed that Bitcoin increases in value, can't it also decrease? There are times that are best for someone to even liquidate much of their Bitcoin to avoid too many financial losses, especially during the bearish season of the coin. This season lasted more than the bullish season, so it is all about awareness and good planning. Also about the one-year house rent remark, what if Bitcoin falls through the year, or has it not happened before? It will definitely be a saver for the renter to pay in Bitcoin this season as the asset would have entirely been devalued throughout the year. It could even be worse if Bitcoin falls for over 2 years and the person spends nothing, which I believe is not wise.

There are best times to consider all that you have hinted but not when the coin is in its losing season. If cleverly planned, the ones spent on the rent could be reinvested at a lower price when the bullish trend has kickstarted again. This looks smarter to me than preserving one's Bitcoin all the time even as it has its depreciating time.

There is no scope to treate negatively for paying house rent by bitcoin. You can pay your house rent or anything else exchangable. Paying or transacting anything with Bitcoin is not a bad thing. You may be implying that Bitcoin is currently a valuable asset that is better held rather than put to other uses. Because holding it has a chance to multiply that amount according to the probability.

Of course those who are holding bitcoins should try to keep their bitcoins at that level and then sell them. I have no loss if I pay the equivalent of fiat money in bitcoins. If you have money you can buy bitcoins. Also, you need to understand that you cannot keep all of your earnings from Bitcoin. You must keep some money for expenses.

Why is it not appropriate? You shouldn't be asking us this question though, to find out you need to ask the landlord yourself, if they will accept Bitcoin is their decision to make, but honestly I believe it will be hard to come by such people.

Your building owner must know what Bitcoin is before they can start accepting, and honestly it might not be good for them, if you are not the only tenant why would they accept Bitcoin from you? Like I have said though, it's their decision, not yours.

if I build a home to rent out I don't think I will accept Bitcoin as means of payment for some reasons, one is the security aspect, people look crypto investors as extremely rich people, they can decide to do some bad things, also if some disagreement happen between the two of you, you will end up exposing yourself even more by trying to prove that he paid you with Bitcoin.

I will be pleased that my landlord is receiving Bitcoin as payment for rent if I earn in Bitcoin. This will save me the cost of changing it to fiat and transferring it to my landlord. I am happy to hear such news coming from Argentina a few months after a Bitcoin-friendly law was enacted. Gradually Bitcoin adoption is improving in the second biggest economy in Latin America.    

Bitcoin is legal in Argentina. There is a current law that endorses the use of Bitcoin in legally binding contracts and it is now recognised by Argentine courts. This further entails that Bitcoin is recognised as a valid currency in official contracts. So this agreement between the landlord and tenant is backed by the law.  

Yes, I also agree that, people need to seriously treat Bitcoins as digital asset. Spending Bitcoins unnecessarily is not at all good for them. They are giving away these high valued coins without any second thought. This proves that the guy who is living in rent don’t have any good knowledge about Bitcoins or don’t know the value and capabilities of it. Nevertheless, we can’t do anything if he has declared him fool infront of everyone.

Using bitcoin to pay for house rent is not a financial mistake, it is almost the same as paying with your local currency because they both have same value as at the time of spending them. What if you only hold bitcoin, how can you pay your rent? Are you going to convert the bitcoin into fiat before paying your rent or you will rather spend the bitcoin you have?

I am not seeing this scenario as a bad action on financial aspect, the landlord might not even hold the bitcoin for long, therefore it is not a bad idea because we can only spend what you have be it bitcoin or fiat.

What if that same bitcoin you're having is going dip in the market price after which the payment is being made, am sure what you will use in making payments for your house rent will be lower to what your portfolio contains, are you not using the same bitcoin to exchange it for fiat with the same worth of value in USD, this is more of a decision on wether the landlord wishes to accept bitcoin payment or not, while on either of his decision doesn't affect you for any reason, remember that bitcoin is a volatile cryptocurrency, while you hodl, it can rise and fall, same as well after you make a payment with it.

If I were the landlord, I will gonna accept it because that's one thing to have when you want to convert some of your money to bitcoins and you don't need to worry about converting anymore seems the tenant has already done it for you. Most of the people who have such luxuries in their lives are capable of not using the rent payment forever because they have multiple sources of income and they can just simply use the other sources to fund their essential needs in life and continue to accept Bitcoin payments from tenants and I'm sure not all of them will be able to do that and they can still accept fiat from others as well if they really need it to.

I don't think appropriate is the right word, what I think it should be is available since there's the implication of options but to me, I do believe that it's a bit difficult to do that anyway, I don't think paying your rent with bitcoin is going to do you any favor, bitcoin is almost like an asset already so I don't think that it's a good idea to use it for your rent, you'll only going to make the landlord more richer than you and you will end up with nothing but regret when the price starts going up so word of advice, don't do it.

This case is different, BTC and other digital assets are banned in Morocco and that is the region where this happened, the man who was sentenced to prison was also accused of a separate fraud charge as can be found in the link you shared.
In this case BTC is legal in Argentina and their new president is also pro BTC and crypto. The landlord and the tenant in this case have also entered a rental agreement, so it is a sealed contract.

I don't think it's a mistake. Especially if the person works for bitcoin or has a significant stash of it. Converting it to fiat would lose them a few percent, that's usually the case. If you are thinking about not spending your bitcoin because the price of it will increase in the future, you could find yourself in an endless loop where you never spend any coins expecting a higher and higher value.

I am guilty of saving too much of my bitcoin myself, but if no one was willing to spend it, it wouldn't look good and interest might drop, and with it, the price.