Buying a house would be the singular reason I would sell my bitcoin...however that soesnt mean I would sell at the onset. No I would put 100 times the effort into finding the right house with property. A house that could also be an asset. Have a small family farm, some dog kennels and a work shop..
Basically I save in bitcoin for this in the future.
One day I'll be able to but that house with my bitcoin that wasn't debased daily.
Iām on this š too
Cost of capital is bitcoin, not fiat. Against that it has to be a very good piece of property that fits as many needs as bitcoin does.
Hard to find but not impossible.
This is how the home buying process should be. Not some mad churning market that generates 12% commissions, 3% closing fees per sell to buy transaction
Good point.
Good point. It also depends on where you live. Some regions are just very hostile to renters
Cool. I appreciate both your comments. For me, I will wait until I can just borrow from #btc then used that to get the right house.
What do you mean by borrowing from btc?
There will come a time in the future that you can use your #bitcoin as collateral and since the value of bitcoin is going up against fiat the amount you borrowed from your #bitcoin will be negligible by that time.
And I am also down to borrow from my capital and get returns from that. Saving in bitcoin gives me the reassurance that my money will be there when I need to deploy it be it via a loan out or a direct draw down.
I think as fiat breaks down more and more places will become that way. The renters will get screwed as they continue to get stripped of their money. And most owners will feel like they are getting screwed because they continue to lose cash flow. It's neither fair nor representative of the system we wish to live in.
I wish renting a house is as easy as renting an EC2
