nostr:nprofile1qqsqfjg4mth7uwp307nng3z2em3ep2pxnljczzezg8j7dhf58ha7ejgprpmhxue69uhhqun9d45h2mfwwpexjmtpdshxuet5qyt8wumn8ghj7un9d3shjtnswf5k6ctv9ehx2aqpr9mhxue69uhhxetwv35hgtnwdaekvmrpwfjjucm0d5klqft7 mentioned that he thinks real estate has already started to be eaten by Bitcoin on What Bitcoin Did.

He's right. I came into Bitcoin around 2020 while researching how to start real estate investing to protect myself from all the printing.

I ended up in gold and Bitcoin instead.

Fast forward to today and I'm zero gold and almost 100% in Bitcoin (minus a small amount of fiat that is already going to specific fiat bills).

I was 27 at the time, which is probably the age most people these days start thinking about such things.

How many other people have or will decide that real estate is just too big of a headache in a world where #Bitcoin exists?

We are going to make it.

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Discussion

Have you seen my article on the real estate collapse and bitcoin?

On a side note, I also realized that most houses should be getting cheaper over time like cars.

The system is broken. Funny enough, housing HAS been getting cheaper for me since I moved to a Bitcoin standard. It's natural.

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how fun will it be to watch home prices tank as bitcoin moons

It won't be entirely. A lot of people are going to be destroyed in the short term. It's retirement for a ton of people in the US at least.

since I was destroyed in 2008, lost home and everything else due to sub-prime crap after a decade of ass-busting & saving, I guess my predicted humor stems from that

I was a teen during 2008, but I remember not being able to get a job. We would hang out in half finished houses in our sub division. Terrible, yet interesting experience.

haha I was hanging out in half finished houses in the 80s

But I am excited about what's on the other side.

I have two close friends who are landlords, i told them they are fucking people over and bitcoin is morally more sound because owning bitcoin instead of buildings means buildings are cheaper for people. They havent let go of the real estate, but they both own some bitcoin 🤣

I'm conflicted on saying they are fucking people over. Some people want to rent and that is a service that should never fully go away. But it would be a lot cheaper on a Bitcoin standard. Everyone would be able to win. They currently can't, which is where your feelings come from. Landlords aren't bad per se. It's the system they operate in that's rotten.

Being a landlord pretty directly perpetuates the rotten system.

Not necessarily. I literally want to rent right now. I dont want to be stuck in a location. I work with travelling nurses with the same needs. I couldn't live the life I want right now without landlords. It's a real service that some people need.

They handle all the little stuff I dont want to right now and I pay them a fee. I acknowledge that there would be far fewer renters in a sound system, but that doesn't mean landlords are the problem. They are merely filling a void that would be there either way with broken money. There's also differences between what most people call "landlord." There is the father and son who own my apartment and come fix my sink, and there's BlackRock. This issue isn't as simple as you're making it, but I do agree there are problems with housing and our entire system.

Meaning there are property managers, investors, etc that all get lumped into "landlord" often.

Dying Boomers are also indirectly contributing to Bitcoin. My wife got a portion of the proceeds from her father's house when it sold.

All of our portion went 100% into Bitcoin.

How many other people our age will be doing that?

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Not only RE but most overcomplex business.

Did you end up in gold and BTC due to the lower cost of capital hurdle and ease of access?

What drove that move?

Honestly, it was just easier in my view. But I also concluded that real estate shouldn't theoretically be as scarce as it is given the fact that shelter is a basic life necessity. I didn't want to encourage the broken system. So ot was largely convenience and ease of buying small chunks of scarce assets and partially ideological reasoning. The portability of gold and Bitcoin was a draw too, but I very quickly learned how painful gold is once you get into the pounds. I had to outsource to a vault in another country and didn't like that compared to how my Bitcoin worked. The superior tech is what ultimately won me. All the other Bitcoin maxi ideology came later.

That’s what I was getting at. Real estate has become unavailable to most given the capital requirement and the land size required for it to be useful (lot size, zoning, etc). That’s before you get into the cost to transact and annual capital call (real estate tax), maintenance and upkeep, etc.

Bitcoin offers similar preservation but is much easier to access. Specifically for people that don’t have down payment money.