Paying house rent with bitcoin is it appropriate?

[oktana]

From what I understand you’re saying that he should rather pay in fiat as the value of Bitcoin would rise and he can enjoy the benefit. Reading the article, I can see that the agreement stated is $100 in Bitcoin. Now, $100 in Bitcoin is just as paying in fiat because when he makes the payment, he will be paying $100 and not a specific amount of Bitcoin. So, he can invest in Bitcoin and pay for the rent with the gains he makes because after all, all he has to pay is simply $100. Anyway, this is good to hear… I am wondering whose idea it was, if it is the landlord or the tenant. 

[MarjorieZimmermanGinger]

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.

Whether it's appropriate or not only the person concerned knows, in El Salvador there may be many things that can be purchased using bitcoin, so is it appropriate or not? We rarely find house rental payment transaction channels using bitcoin unless you visit El Salvador, but if you visit other places, fiat currency will still be the main priority in terms of payment. So the issue of appropriateness may have to be looked at in a particular place and if it can be paid using fiat why should you pay using bitcoin.

Bitcoin has a stronger ability as an investment asset because it is related to value and when someone takes a payment step using bitcoin, it means the value will adjust to the current price. For me if there is an option then using payment with fiat currency would be much better, compared to paying for something using bitcoin.

[zaim7413]

Obviously this is a good idea, after this transaction occurs both parties benefit. The first party (home renter) pays Bitcoin according to the current trading price with an amount corresponding to the price determined by the second party (home owner). The second party can save and collect as many Bitcoins as possible without having to exchange them again, clearly this is a very profitable business.

This idea is the same as when you receive services in the form of Bitcoin or receive payment using Bitcoin after a customer buys something in your shop. At the time of the transaction, no party feels disadvantaged, you receive Bitcoin in the amount according to the price you sold, while the buyer does not have to bother exchanging Bitcoin and then paying you with fiat, that's the logic according to my understanding.

[moneystery]

paying house rent with bitcoin is not a mistake or lack of financial knowledge, but it just puts what is a priority now. if someone pays their house rent using bitcoin, it means that they understand what they are doing and are ready to accept the risk that they will lose the potential profit they will get in the future.

moreover, not all bitcoin owners are just holders who hold their bitcoins in their wallets for a long period of time, there are also some who invest but at the same time use a few percent of what they hold for their various needs because maybe they have made enough profit.

[Poker Player]

paying house rent with bitcoin is not a mistake or lack of financial knowledge, but it just puts what is a priority now. if someone pays their house rent using bitcoin, it means that they understand what they are doing and are ready to accept the risk that they will lose the potential profit they will get in the future.

The only way I would consider paying rent with Bitcoin would be if I had already reached a stage in my accumulation that would allow me to live off it without working for the rest of my life, which at current prices would be like having 40 Bitcoins. Only then would I prefer to spend significant amounts of Bitcoin on a regular basis. I don't see much point in spending Bitcoin and keeping the fiat currency. Least of all in Argentina, which has one of the worst currencies on the planet.

[kro55]

For me if there is an option then using payment with fiat currency would be much better, compared to paying for something using bitcoin.

I will do the same thing as you. Although bitcoin was created to be a peer-to-peer currency, with its price volatility and high transaction fees, it is not really suitable to be used as a means of payment.

I see some people are advocating using bitcoin as a payment method but I really want to ask. How many people have used bitcoin as a payment method instead of fiat currency or are people just trying to show support for the idea but never doing it?

If we need to make international payments or cross-border money transfers, bitcoin is certainlychoice superior and a better choice than the traditional currency system but for daily bill payments, fiat is still the better choice.

[Smack That Ace]

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.

Gold is also a very good inflation hedge asset no less than bitcoin, but the fact that it has existed for thousands of years has not helped reduce inflation around the world. So we should stop being naive or over-exaggerating the power of bitcoin on our world. As I said, bitcoin will be a hedge against inflation and it will work for those who hold it, and world inflation is a more difficult problem and requires more factors to solve. But in my opinion, inflation is an inseparable part of the world economy and there is no way to completely prevent inflation.

[Kliss]

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.

It's not a bad Idea, exchanging bitcoin with other services. Do you think if bitcoin can't be exchanged with Fiat or bitcoin is not a digital currency acceptable the landlord will accept it, that acceptance is the beauty of it. If it's not acceptable or can't be traded for other purposes then is of no value. The value of any currency it's because it can be tendered legally anywhere if accepted which crypto currency (bitcoin) is acceptable in so many part of the world. In sports so many athletes accepted to be paid in crypto (bitcoin) and tickets are bought in crypto (bitcoin) to go and watch games.

The importance of investing and accumulating crypto
currency (bitcoin), is for profit and to use it meet up ones need . What is the essence of having what that can meet your need without using it, if it's acceptable.

[Blitzboy]

First, both parties in this leasing agreement are experienced crypto users, indicating a shared grasp of Bitcoin's potential and volatility. This is a planned move by crypto experts.

Argentina has high inflation, which devalues fiat currency. A rental agreement tied to a stable asset like Bitcoin might hedge against inflation. Bitcoin's value could rise, but its also about shielding financial assets from local currency inflation.

MOreover, Tenant and landlord show their cryptocurrency support by accepting Bitcoin payments. Its financial activism showing their trust in Bitcoin as a viable and stable currency. Not just for financial benefit, but to support a system they believe in. Their acts reflect the trend toward decentralized financial systems.

[Jawhead999]

The only mistake when you invest in Bitcoin is, you don't want to sell or spend it.

Let's accumulate Bitcoin, you work very hard when you were young and you try to invest as much as you can. When you 20's you have 1 BTC, when you 30's you have 10 BTC, when you 40's you have 100 BTC, when you 50's you have 1K BTC, when you 60's you have 10K BTC and then you dead without enjoying your own hardwork.

It's the life that you want?

[Zanab247]

That is your choice to pay with BTC or fiat because, you can decide to pay your house rent with fiat for your landlord to issue you receipt as a form of evidence that show you have fulfill your payment for the month or year, but if the landlord give you some condition that you should pay the house rent with BTC, is your choice because you can see some house where you can pay with fiat.

But I don't think I will pay house rent with BTC because it will look to me as a wast of BTC because, the price of BTC can rise or fall at anytime which it will be a risk to me to take such decision  to pay house rent with BTC.

[Synchronice]

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.

They haven't agreed on a fixed payrate in Bitcoin, instead, they agreed on a monthly $100 that will be converted Bitcoin at the end of the day and person will pay the amount of bitcoins that equals to $100 the day when it's time to pay. It's a win for both parties. The one holds Bitcoins and sends bitcoins each month, i.e. if price grows up, he pays less and less Bitcoins while the house owner receives and hold Bitcoin instead of fiat, i.e. saving the fees that you have to undergo to buy Bitcoin via fiat.
I assume that House owner plans to hold Bitcoin long-term and doesn't plan to convert it into fiat at the end of the month.

[Victorik]

Personally I won't pay rent using bitcoin, considering the fact that the price of BTC is not stable. I understand that they may be paying the rent using the current market price, but for me, I don't think it will be a good idea.

[Queentoshi]

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 is not just for investment so there are some holders in Bitcoin who occasionally decide to use Bitcoins for all the functions that it can achieve which also includes use as payments. I understand that it is difficult for you to understand this, and this is because of your ideology towards Bitcoin which is an investment, but some people do not mind, they are even happier and excited when they meet another person who accepts to take payments in Bitcoin. By making payments in Bitcoins, they feel happy that they are fulfilling the wish and plan that Satoshi had for bitcoins as a currency.

To the house owner whose business is management of his property and collection of rents, imagine that he is a Bitcoin enthusiast, and recently just added Bitcoin as a means of payment for his house just so that he can have some Bitcoin for himself before the halving. He has succeeded in getting some bitcoins in a way not different from a vendor who sells a product and receives payments directly in bitcoins. If you consider it as inappropriate to pay for your house rent using Bitcoin, then it is also an appropriate to pay for other products using Bitcoin because then the value is not fixed as well.

[icalical]

Paying for a house with bitcoin sounds to me a mistake or lack of financial knowledge.

This is one of the result of shilling Bitcoin by speculators and influencer, some people are surprised that other people actually use Bitcoin as payment method and not just for speculations. Bitcoin was initially invented as currency, spending Bitcoin on House or any other stuff shouldn't be a mistake, it's the same as when people went to cashout their stock to buy some stuff that they need.

And I think it's a good thing that real-estate market in Argentina accepting Bitcoin as payment.

[armanda90]

Not much difference valuable when paying house rent with bitcoin or using fiat, I think paying house rent trough bitcoin and fiat with the same amount total but difference cases when you have saving money or bitcoin for house rent in the upcoming time potential will change valuable of bitcoin. Has opportunity with bitcoin will increasing up after bitcoin raising to higher price and another side you need to recovery few percent of total amount house rent if bitcoin price going down.

I don't think recommended when using bitcoin for house rent if your on position not owner of the house, but difference when your position want to house rent and earn profitable trough bitcoin as your investment in the future with potential of bitcoin value increasing up drastically.

You must prepare with some one are ready with adopt bitcoin as payment and how legalize in the future if any cases of house rent transaction get problem.

[Kelward]

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.

People buy houses, buy cars, book hotels, pay for flight, pay for cruise, pay tuition fees in Bitcoin. So why would paying house rent in Bitcoin be a financial mistake? Bitcoin is a medium of exchange and can do what fiat does. Choosing to pay the landlord in bitcoin will not make the tenant go broke or make him not accumulate more Bitcoin for himself. It's very likely the tenant earns in Bitcoin and also I think the purpose of news is to encourage people to start accepting cryptocurrency in the country.

You can't hurdle your Bitcoin indefinitely, there has to be a time when you'll have to sale or spend some or all of it, so there's nothing wrong with that, so far you're not spending it bellow the market price. Although you might feel at a lose if you're spending it during price dip or bear run, probably bellow the price that you bought it, but that shouldn't be a problem so far there's alternative of paying with the local fiat currency. We shouldn't forget that the original purpose of creating Bitcoin is for p2p transactions and it is the best method to drive it's adoption, although investment and trading purposes have clearly overtaken this original plan.

[CageMabok]

Personally I won't pay rent using bitcoin, considering the fact that the price of BTC is not stable. I understand that they may be paying the rent using the current market price, but for me, I don't think it will be a good idea.

For some people, something like that might look good in their eyes, but it may not necessarily be so good in the eyes of others because maybe other people who see someone pay rent with Bitcoin based on the current market price. You would definitely think that someone is throwing away Bitcoin by sacrificing it through rent payments, so what you say is actually quite correct considering that rent payments can also be paid with fiat currency as usual without having to spend more Bitcoin just to pay the rent.

[Fivestar4everMVP]

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.

Nobody, not you, not me, not anyone will hold their bitcoin forever, we all buy bitcoin to either sell it later for profit, or to spend it on an item or something we love..
Many have bought houses and paid in bitcoin, some bought cars and paid in bitcoin, I myself bought a bike in 2022 and paid for it in bitcoin, that I bought this bike and paid in bitcoin does not mean I no longer own bitcoin, I currently own even more bitcoin than I had when I spent some of it on a bike.

If you read the bitcoin whitepaper, bitcoin is supposed to be used to pay for goods and services, not just to hold it for profit, as a bitcoiner, I consider it mandatory for us to different bitcoin wallets, major two different bitcoin wallet, one wallet hold your bitcoin meant  for or as long term investment, while the other wallet (more like a hot wallet) hold the bitcoin you can easily spend on goods and services, or items we find interesting and want to own them..

In the nutshell, there is absolutely nothing wrong to spend bitcoin to pay for a rent, as long as the person is working and earning, he or she can always buy more bitcoin for future use or for investments.

[fuguebtc]

The only mistake when you invest in Bitcoin is, you don't want to sell or spend it.

Let's accumulate Bitcoin, you work very hard when you were young and you try to invest as much as you can. When you 20's you have 1 BTC, when you 30's you have 10 BTC, when you 40's you have 100 BTC, when you 50's you have 1K BTC, when you 60's you have 10K BTC and then you dead without enjoying your own hardwork.

It's the life that you want?

I think OP didn't mean it like that , he just wanted to say that using bitcoin as a means of payment is not appropriate and it is more suitable to use as an investment . But there are a lot of people who have the wrong mindset you're talking about. Many people become so addicted and worship bitcoin that they just accumulate and hold as much as possible. They don't intend to spend it for life, and they want to keep it for the next 30 to 50 years . But I want to ask if they can live until then ? LOL. Bitcoin is just money , a tool to serve our lives, it is not a religion or god but for us to serve and worship it more than necessary .