Paying house rent with bitcoin is it appropriate?

[Smack That Ace]

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.

Renting houses through Bitcoin is undoubtedly a groundbreaking step and such a step plays an important role in Bitcoin adaptation in the world. As Bitcoin has many benefits, especially money inflation, but if Bitcoin is used as payment for rent or any other business, then deflation can be mitigated.will be But slowly, people all over the world will do house buying and selling, house renting, car buying and renting activities etc. in exchange of bitcoins. Since Bitcoin works against inflation, Bitcoin picks up where fiat fails.

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.

[Rockstarguy]

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.

For you it may sound like a bad idea because of so many reasons which you think it is not good for you to spend such a large amount of Bitcoin to house rent but this person he knows the reason why he decided to spent bitcoin for rent best to him. I don't think spending bitcoin on house rent is wrong,  bitcoin is money that can be spent, it is not just for hodling .

I know this is the period of hodling Bitcoin against the coming bull market but if one still have much of it to spend it, then it is not a bad idea to spend bitcoin.  In some countries bitcoin have been accepted as cash which people can spend it just the way fiat is spent.  Bitcoin is money and everyone will decide what to spend his/her money on. Since bitcoin is money, you know money is meant to be spent, this is one of the purpose of having money.

[letteredhub]

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 won't hold bitcoin forever for at some point you would have to spend it and yours may not be for house rent but something also important as rent fee. Moreover bitcoin can be use as a measure of exchange so why shouldn't it be used for the payment of goods and services, it should be known to some of us who don't know, that, bitcoin wasn't created mainly for hodling only in making profit from it, the P2P use of bitcoin was made to kill the influence of the need for a middleman and by virtue of bitcoin being divisible it therefore mean it was also meant for payments in buying and selling of goods and services in as much as the two parties agrees to make use of it instead of fiat.

[Cryptomultiplier]

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.

For you it may sound like a bad idea because of so many reasons which you think it is not good for you to spend such a large amount of Bitcoin to house rent but this person he knows the reason why he decided to spent bitcoin for rent best to him. I don't think spending bitcoin on house rent is wrong,  bitcoin is money that can be spent, it is not just for hodling .

I know this is the period of hodling Bitcoin against the coming bull market but if one still have much of it to spend it, then it is not a bad idea to spend bitcoin.  In some countries bitcoin have been accepted as cash which people can spend it just the way fiat is spent.  Bitcoin is money and everyone will decide what to spend his/her money on. Since bitcoin is money, you know money is meant to be spent, this is one of the purpose of having money.

The use of BTC for payments and transactions is not a new thing. Businesses in most countries accept BTC payments and individuals may request their bosses to pay them their salary in BTC.
I am not just exaggerating, I have read countless of stories here on how individuals got to accept BTC payments for their business and am very sure real estate business ranks among businesses that can and should allow BTC payments since it may incur less fees than what the bank would offer.

It depends on if the house owner also decides to accept the rent payment in BTC and also if it is a legal tender or it is not banned in total by the government in that country or region. So it would be necessary to ask first before concluding on the payment option of cryptocurrency.

More than just waiting to trade and make profits from BTC investments mostly as new events are unfolding like the ETF just being approved and the halving to happen, is the choice to either HoDL, spend, diversify, convert to other trading pairs or simply just accumulate. Everyone has a choice of right to do as they deem fit with their crypto holdings.

[Rikafip]

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?

Because bitcoin is money, plain and simple. I don't see a problem using bitcoin for its (initially) intended purpose, especially if you bought bitcoin for much lower price and using it when price goes up xyz times.

In my early crypto days I used to think about times when I sold my bitcoin for the price that is much lower than that moment, but at one point I simply stopped thinking like that and I have no problems spending some bitcoin when/if I need. After all, if everyone just kept holding bitcoin and not spending, noone of us would ever heard about bitcoin.

[Asuspawer09]

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 mean if you're going to look at Bitcoin we know that Bitcoin is just digital money so it would probably make sense to use it as a payment method probably for sure, it's probably going to be a good thing since Bitcoin is being used as what it is. On the other hand, it's for sure a good move for the landlord to accept Bitcoin as a payment, for sure is probably an investor already because he's interested in accepting Bitcoin as a payment, and for the payer, it might not be a good idea in the long run since we are all accumulating Bitcoin but probably if your investing all of your money in Bitcoin might as well you can just use Bitcoin in all of your payments etc.

You can really say that it is a bad move for someone who is going to use Bitcoin as payment, I mean you dont really know what is her situation so we can't really assume anything, For sure if the owner is going to accept Bitcoin as a payment we can easily assume that he is as well going to hold it and not just gonna sell it, because accepting Bitcoin as a payment method means your investing it as well, if he's just going to sell it would be a big lose for sure because the market is just so volatile.

[mindrust]

It is not really different than paying in USD. Like you said, the landlord can convert his coins into USD any time he wants in the end. Bitcoin is better than FIAT when it comes to preserving value but it is not as good as FIAT when it comes to the transaction fees. If I were the tenant, I wouldn't waste money on the tx fees... Instead I would pay in USD because it is much cheaper (often free). If the landlord has no interest in btc, just pay him FIAT. Everybody will be happy. Remember: FIAT is better for spending, btc is better for hodling. You keep btc, spend FIAT.

[Ahli38]

Paying house rent with Bitcoin or with fiat or with other things is actually not a problem. It's different again about saving bitcoin vs saving fiat. But paying with bitcoin vs paying with fiat I don't think this is anything to debate too seriously. Because paying is short term. Meanwhile, being a Hodler or saver is long term.

But if we buy bitcoin at a high price and we require a high fee in payment transactions which makes rental payments actually more expensive than using fiat then this is something we have to think about. But sometimes many people want to try the sensation of paying in the real world with Bitcoin, regardless of fees or whatever. Because the goal is the sensation and experience itself. And this experience can sometimes be quite a pleasant moment. Or if someone has no fiat and only has bitcoins in their wallet. So it will indeed be more economical if he pays directly with bitcoin rather than having to first transfer to an exchange and then exchange it for fiat and withdraw the fiat via p2p or with normal withdrawals which of course require other fees. Well, in those conditions it would be better to pay directly with bitcoin (if I were in that position). So the bottom line is that everything can be judged as good or bad depending on the situation and position you are facing.

[Cookdata]

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.

If the owner pay with Bitcoin, I don't see anything wrong with that because what's the use of holding Bitcoin when you have the need for financial responsibility and you have big Bitcoin that you have bought some years ago? Sell the amount you want to sell for that time and hold the rest. The only person that will benefit here is the landlord that get paid in Bitcoin but only if he hold the Bitcoin. Some will sell and use the money for other bills because these landlords are into real estate to feed their own families from the investments.

However, if you have other means like other means of income, then I don't see any reason why you must sell your Bitcoin, you are enriching the owner of the house and you also jeopardize your privacy because paying with Bitcoin means you are disclosing that you owned Bitcoin and source of your wallet might be the next thing to target except if you are sending from the exchange but it's better not to let people know that you own Bitcoin for your own security purpose.

[GiftedMAN]

How then do you think that Bitcoin will get massive adoption if it can't be used to sort out bills just like fiat? There's nothing bad in using Bitcoin to pay any kind of bill hence the transaction is done with someone who accepts Bitcoin and the amount to be sent in Bitcoin is also well negotiated. For someone who's a Bitcoin holder, using some Bitcoin to pay bills doesn't affect you since the price of Bitcoin is not using stable and buying Bitcoin can be done anywhere, anytime without any form of trouble, personally I will be glad to pay my house rent with Bitcoin but I will also consider the transaction fees before doing accepting to pay with Bitcoin.

[rachael9385]

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.

[AakZaki]

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.

[leonair]

If Bitcoin is used as money and treated as money, that presupposes active exchange of Bitcoin for goods and services. So paying the rent with Bitcoin makes sense from this perspective, and there's nothing bad about it. I think I'd be down to pay my rent in Bitcoin if it was accepted, but it's not, so I use fiat for that. Allowing monthly rent to be paid in Bitcoin can be a step toward accepting Bitcoin as legal tender in Argentina. It makes people more used to the idea of Bitcoin as a type of money, and it's beneficial for landlords if not tenants. Actually, it can be good for tenants, too, if it motivates them to adopt Bitcoin wider and to accumulate it regularly, instead of doing that with fiat.

Bitcoin is getting more popular day by day and Bitcoin is being used in different places so if Bitcoin can be used as house rent then it will be much better.  This can be a very good offer to those who use Bitcoin and are associated with Bitcoin.  If Bitcoin can be used everywhere like money, including house rent, then creating Bitcoin will be worthwhile.  Because Bitcoin was created to be used as an alternative to money.  And Bitcoin is moving in that direction day by day

[Bitstar_coin]

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.

[legiteum]

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.

[bayu7adi]

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.

[Y3shot]

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.

[Ndabagi01]

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.

[Zoomic]

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.

[GideonGono]

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.