My line of thinking is with the promissory note access to the bitcoin architecture it would allow for people to say buy a house or a car or property. The note could actually be constructed in bitcoin payments as opposed to dollar values. So, you could start ignoring the fiat price. The note would promote a legal background for larger higher ticket items to be used. What the holder of the property wants to do with the bitcoins or whether the property holder would want to use the bitcoins or accept the note would be completely up to the property holder. On their end the deed or title would be attached somehow to the software.\
It could be a cross group project like legal zoom, multibit, and coindesk.
You would need price stability for such high ticket items over time. Of course you could build in some clauses about price swings as well I would imagine. The idea could be a great one and a truly good way to get the banks out of our houses as well.
I've thought about that as well. But this would be in longer term instruments.
My line of thinking is initially you could set up notes dealing in lump sums which, would be an option on multibit or whatever someone conceives as a program that would work. Let's say you started with just a bitcoin supporter within the community for a car. You would draw up your note and come to some form of agreement between both parties. You could set the terms, payment period, amount etc. The deed would be at one end and the note and esig on the other side of the deal. You could then make the first property acquisition via the new program.
Then my ultimate end goal here is that if the government may step in and try to challenge the move and try to charge capital gains on the buyer. You would then have access via the court system to challenge their ruling that it's an asset. A legal battle would ensue in the court of common plees. But it's looking given the current environment it would seemingly go unchallenged because when users are buying thing at say newegg I don't believe they are getting charged capital gains.
But in the end I think it would give bitcoin a chance to move from asset to an actual alternative currency.
It could also give miners the opportunity to make large property acquisitions to house their mining hardware. In the long run miners could draw up their own (seemingly) loans for new property for mining hardware based on their bitcoins made per month or whatever if someone was willing to sell the property on the other end. Intially, like i said I see it as lump sum payments. But to me the legal instrument is important to more widespread adoption other than just consumer goods.
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