Topic: Thoughts about the person renting an apartment with Bitcoin in Argentina - page 2. (Read 278 times)

AFAIK, Argentinian peso is experiencing hyperinflation and that's why any other currency that people there will have is they'd convert it to a better currency like USD. So, if they're going to receive in USDT or in BTC, that's much better and they're doing the landlords a favor. Another factor is about the landlord knowing cryptos and that's why it's fine since there is an agreement and the renter will have no problem explaining that his payments are going to be with these cryptocurrencies which logically can be said as another form of money, it has monetary value and liquid so there won't have any problems for the landlord if he wants to convert it however he want and as soon as he receives the payment.
I hope that more establishments and landlords will do this, not just there but also in every part of the world.

Am excited seeing this because the use of Bitcoin is increasing day by day, it is getting more better and easier with the use of bitcoin on our daily transactions, the more we keep having the support like this will also increase the rate of bitcoin adoption and also encourage other countries to make a positive turn towards governments in making bitcoin a legal tender.

This is exactly what most business owners who claim they accept bitcoin and crypto currency as payment options do: they don't directly accept bitcoin; they indirectly just promote a particular platform or exchange in their own little way. In my country, here are a few local shops that are crypto-friendly and accept payment only when you are sending directly from your Binance Pay to theirs. 
 
My question is: why are they going through all those long processes or even deceiving themselves when they can just conclude and seal a contract using their local fiat, since there is no privacy protection or even decentralisation in that transaction, and if the person receiving the money needs some Bitcoin or any crypto, they can go ahead and purchase it with the money received from the business.

I think this is why the payment was fixed in a stable coin rather than volatile one like bitcoin. I think if the option was to be left in your hands Alone the price fluctuation will cause problems, because you will definitely be on the advantage in any of the options picked. Personally what I will do is regularly stack up bitcoin and see if they appreciate so as to cover for my future payments. But the bigger issue is having to buy specifically from that exchange.


I don’t think there is any country that accepts bitcoin as an investment only and not as a currency. The only two things I have seen is officially legalizing it or placing restrictions on it. The choice of what to treat it as, is always the investors choice. Currently many people like to lean towards it as an rather than a currency

So this is actually NOT renting an apartment for Bitcoin or allowing contracts to be signed for Bitcoin.

It is like I told you I am renting my apartment for Gold.  But the price is calculated in Dollars and in order to pay you will have to sign up on eToro, deposit Dollars, buy Gold Stocks and send me some.

This person is seeking attention only.  Or the news website.  Or who ever tries to do it.  This is B S.

If I'm living on that country, I will not be excited and start using BTC directly but I will confirm the news first if it's an official one, only to be safe. He likes BTC but it doesn't mean that he will now also make it legal even though it's weird because that is not his main priority. There is still a chance later on for this. What we only need is patience.

There are countries in which one side of BTC is only accepted. For some it was as a currency, while the other is as an asset. If you're from a country that only accepts BTC as a commodity or an asset, not all are still going to proud or happy because not all are like you, but some only likes to use a BTC as a currency.

Well, what else can people do when the national currency (peso) is going to hell? In my opinion, this is a win-win solution for both the tenant and the lessee. The trend for the use of cryptocurrencies in Argentina can only intensify (due to the deteriorating economic situation).

Well, this is a way to protect against the volatility of bitcoin, but why was USDT chosen? Do they really believe in the power of USDT, more than a USD? The value of the second is at least ensured by the real economy of one of the leading countries.

That is, purchased bitcoin for pesos are moved from wallet №1 to №2 within only this platform? As a result, №2 probably exchanges bitcoin for pesos and brings it into real world? If this is so, then this whole scheme looks rather absurdly dubious.

And also, receive their commissions for each stage of the conversion.

If bitcoin continues to be used in the same way, then this digital currency is worthless (not directly P2P, but through meaningless layers of exchanges).

That could be a really good move for a landlord to do that but as a renter, I'd probably only consider renting with paying bitcoin if I can choose every month how I will pay it because that way, it would be in my advantage that I can probably pay less rent when I pay in bitcoin when the price is constantly going up and then pay in fiat when the price isn't in my favor and the value of bitcoin that I'm paying is too high despite being so little when it comes to it's value in fiat. I applaud this good move because it's really something that would make things much easier for some people and at the same time, makes it a good thing for bitcoin because it's still bitcoin adoption.

It was reported months before the elections that brought in Javier Milei that he is pro Bitcoin and will turn Argentina into another El Salvado. I guess we are seeing that come to reality today because for an active government official to rent apartment with Bitcoin in a country where the president is restructuring the governance, is an indication that Bitcoin is a welcomed in the country. Since late last year, Argentina approves Bitcoin as its official currency, no wonder Elon Musk is passionate about Argentina because whether we believe it or not, Elon Musk has become the new face of freedom. What this development will do is that by the time more countries see the success recorded by Bitcoin in the countries where it has been allowed to flourished, they will begin to shift towards legalizing Bitcoin and this is something huge for Bitcoin and the Bitcoin community.

OP. Any news that reports about businesses or other things that can be paid for using Bitcoin is always fun.
We know Argentina with its new president as someone who likes Bitcoin and based on this, it makes it easier for business people to use Bitcoin as a means of payment. It may not be as total as the implementation in El Salvador, but policies like this report have made it easier for citizens to implement them.

We continue to hope that many countries can make Bitcoin what it should be. We are also proud here that we can still make Bitcoin a commodity asset.

Did you consider that they have a different currency, and their economy is not the same as the one in us. So 100 usd might not be as cheap as you think it is in their country. Usd is a very expensive currency.
Well it's nice to see that bitcoin is being accepted in contracts as big as monthly rent. I hope it gets normalized that bitcoin is used for transactions as this. I think holding bitcoin first and then paying eventually will be the ideal situation since a monthly rent is constant.
I agree it is quite confusing but since I am not from Argentina I don't know how their economic situation is right now.

People can purchase or sell their real estates with bitcoin and renting is thing smaller than that.

https://cryptorealestate.cc/property-city/middle-east/

Middle East is a hub for pioneer and adoption of Bitcoin and Cryptocurrency recent years. Middle East & North Africa: Crypto Takes Hold as UAE Leads the Way in Promoting Regulatory Clarity

In the USA, in 2017, Bitcoin is finally buying into US real estate.

The Minister of Foreign Affairs of Argentina, Diana Mondino, recently confirmed that in Argentina you can make contracts paid in Bitcoin:

https://bitcoinmagazine.com/business/argentinas-minister-of-foreign-affairs-affirms-bitcoin-acceptance-for-contract-agreements

Recently, there was a story about a guy in Argentina who did just that to rent an apartment:


Here is the original story, in Spanish: https://www.pagina12.com.ar/703173-en-rosario-se-firmo-el-primer-contrato-de-alquiler-en-bitcoi



The first thing to consider is that the price in the contract is set in USDT, not even USD. The contract says 100 USDT, which is today the equivalent of $100. Here is the original in Spanish that mentions this:


Now, first of all that sounds very cheap for a full month of rent, but the most interesting part to me is that the price was set in USDT, which can at any time depeg: https://cointelegraph.com/news/how-and-why-do-stablecoins-depeg So, any month, those 100 USDT can represent a completely different amount of USD, which will then be converted to BTC.

The second thing to highlight here is that they are not paying the BTC directly to the other person wallet. They are using a centralized exchange called Fiwind, and basically they deposit their Argentinean Peso into the platform, exchange it to BTC, and then transfer the BTC in the platform to the landlord, monthly:


Apparently the centralized exchange is part of the contract, so maybe they are doing it this way to get all their fees from this person, and get some PR on the side.

It is a bit of a shame really, when they could have easily just paid directly from one person to another. The details of this story reveal that it's not really a direct peer to peer transfer, but a convoluted payment involving a third party. Might as well just pay it directly in Argentinean Pesos, or USD since they are setting it to $100 USD.

Missed opportunity. I think the main point here is setting the price in USD equivalent instead of the Argentinean Peso which devalues a lot over time.