Paying house rent with bitcoin is it appropriate?

[Zlantann]

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.

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.    

It is a matter of choice whether the both party agreed to receive payment in fiat or bitcoin the major problems should be that since bitcoin is not legalized over there let it not lead into problems maybe who knows if it was prohibited over there or not. I don't care whatever someone uses his bitcoin to do, bitcoin is meant for spending and it's serving it purpose and no one should held down for spending their bitcoin and if i may asked do you know how much bitcoin is in his possession? Someone may have some thousands of bitcoin and decides to be spending them whenever or however he wants without anyone limiting him.

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.  

[Crypt0Gore]

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.

[Rabata]

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.

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.

[EarnOnVictor]

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.

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.

[Mauser]

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.

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.

[SatoPrincess]

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?

[milewilda]

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.

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.

[bitzizzix]

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.

[alani123]

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.

[Fatunad]

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.

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.

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.

[legiteum]

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.

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

[iBaba]

Paying house rent with bitcoin is a good thing and not a bad idea. You are using the current value of bitcoin, both in price and market value, to determine what you are going to pay for, and I don't see anything wrong with that.
 
Paying with fiat in the same amount total and also paying with bitcoin is still the same thing, provided that you and the landlord have a mutual agreement. If you have some bitcoin to spend, you can just pay it and let go, and you can always convert that fiat to bitcoin anytime you want and hold it as long as you want

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.
 

Mind you, there is no guarantee that the bitcoin price will keep its value as of when you pay the money, and till that time next year, the price might double, no doubt, or the price might also drop in value, which the landlord might be recording some loss if it has not yet sold out.

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.

[alankasman]

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.

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.

[Adbitco]

Snip

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.  

Good why op killing himself over a thing that is legalized in argentina, though few moments after I made that post I went on to make research and I noticed it was legalized when a tenant is paying his rent with bitcoin that should be a thing of Joy at least we are now using BTC for its purpose.
The reason why I see op getting disturbed is for a reason that he was seeing bitcoin only on investment aspect of it, if that he took bitcoin priory to its creation and main purpose there isn't a  time op could have got this mindset to say the tenant wouldn't have paid his rent through bitcoin instead fiat.

[Humblevirus]

I don't think spending Bitcoin anytime is a bad thing because it was not created for only investment purposes; it was created to serve as an alternative to fiat currency to make transactions so easy for people and for privacy. So what is wrong with spending Bitcoin anytime you feel like spending it?
 
Paying expenses with Bitcoin or fiat currency I see it as the same unless the transaction fees are high, because if you decide to spend 1 bitcoin, it is still going to be equal to fiat currency at the time you decide to spend it.
 
And by the way, if it was only Bitcoin that the person had at that period of time that he wanted to pay house rent, what do you want the person to do? He should not pay house rent, or what? Investing in Bitcoin is a great thing, and spending it is also not bad.

[CoinFoxs]

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.

He is spending bitcoins directly instead of converting them to fiat, which is good for him as his house owner accepts bitcoins as a payment method. How it would be a financial mistake? He is making money from bitcoins to meet their expenses and at the month's end, he is paying through bitcoins. Simple!

[legiteum]

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.

He is spending bitcoins directly instead of converting them to fiat, which is good for him as his house owner accepts bitcoins as a payment method. How it would be a financial mistake? He is making money from bitcoins to meet their expenses and at the month's end, he is paying through bitcoins. Simple!

The way I interpreted that post was, "HODL!!!" 

That is the "advice" I would give anybody who holds a financial instrument that I am invested in: hold everything and buy some more! Make my asset go up in value, damn you!

[Stable090]

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.

Some people that are into bitcoin don’t really understand what bitcoin is all about, they don’t know the purpose why bitcoin was created, everyone thinks bitcoin was created just for people to invest and hold, if people are just holding bitcoins, then it’s not serving the purpose why it was created. Bitcoin is a currency which is suppose to be used for transactions, if you are paying for house rent, and your landlord decides to accept bitcoin and payment method, then if you are having bitcoin, you can pay with bitcoin, that’s the main reason why bitcoin was created, it should serve as alternative payment method to fiat currency, but if you keep on holding without spending, it’s not really making sense, am not asking you not to hold, but you should Have bitcoin which you will be using to make transactions.

[legiteum]

Some people that are into bitcoin don’t really understand what bitcoin is all about, they don’t know the purpose why bitcoin was created, everyone thinks bitcoin was created just for people to invest and hold, if people are just holding bitcoins, then it’s not serving the purpose why it was created. Bitcoin is a currency which is suppose to be used for transactions, if you are paying for house rent, and your landlord decides to accept bitcoin and payment method, then if you are having bitcoin, you can pay with bitcoin, that’s the main reason why bitcoin was created, it should serve as alternative payment method to fiat currency, but if you keep on holding without spending, it’s not really making sense, am not asking you not to hold, but you should Have bitcoin which you will be using to make transactions.

But Bitcoin (and cryptos generally) suck at transactions . Maybe that's why people don't use it that way.

But people love investing in it, so... here we are.

[Assface16678]

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.

He is spending bitcoins directly instead of converting them to fiat, which is good for him as his house owner accepts bitcoins as a payment method. How it would be a financial mistake? He is making money from bitcoins to meet their expenses and at the month's end, he is paying through bitcoins. Simple!

Exactly, I second you with that, the thing is some investors in bitcoin or bitcoin holders is being eaten by the phrase of "HODL" the thing is we are all not the same, maybe some afford to just their asset seated and waiting for a right time to sell without worrying about the daily expenses or money to buy the things they have, but we are all not the same, some will make sacrifices by either selling their bitcoin to make it for paying for the things they want and best example is the house, how could it be a mistake? We all have a reason why we do crypto currency things, maybe that person doesn't have any other means to pay rent for the house, lets not judge them.

At some point I agree with the OP if its for rent why the person in the article can't pay using fiat, maybe he doesn't have a stable income, just like him I would use my bitcoin asset if only I can buy a house at full price.