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My Landlord Says He Can Accept Rent in Bitcoin
1305 sats \ 9 comments \ @spiderman 7h bitcoin
So, much to my surprise, my landlord says he can accept rents in Sats or HKD. The contract itself, though, stipulates a fixed amount of Fiat (Hong Kong Dollar) still.
I did not get into a detailed discussion on how should we determine the quantity of Sats (like, just take the Google exchange rate on 1st of every month)? It seems like in my region (Hong Kong) there are some variations in the spot rate depending on where I search, so that may be a challenge to establish every month, unless we change the contract itself to Sats.
But it also got me reflecting, that on-ramp in my region of the world really sucks. I (obviously) get paid Fiat (the contract with my employer stipulates a fixed amount of USD, but because of the peg, it is mostly flat in HKD too). Then I buy Bitcoins opportunistically (timing the dips a bit) and transfer to my cold wallet. Have been HODLing for sometime, but did not really engaged in regular transactions.
So after going through the hassle to get the Bitcoins and withdraw them to my cold wallet, it does not feel worth it to give away part of it to pay my rent, when I can just pay in Fiat and keep my Bitcoin accumulation game on track as I am doing now.
Is this the HODLER's dilemma that the Buttoiners cite as the reason that Bitcoin will never work as money?
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0 sats \ 2 replies \ @LibertasBR 7h
In fact, this is an excellent reason to convert all or part of your salary into Bitcoin. Since you can pay your rent with Bitcoin, you're moving away from the centralized fiat network and helping your landlord receive and reinforce the message. You might even get a discount. The more people using Bitcoin, the more places in your area will accept it.
You need to see that what matters is financial freedom and sovereignty. This hodl talk is nonsense, since most people who use this term are thinking about how much fiat they will have in the future and not how much bitcoin they will have in their wallet to use as money.
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0 sats \ 1 reply \ @spiderman OP 7h
this is an excellent reason to convert all or part of your salary into Bitcoin.
Have some family planning and large expenses coming up within next two years.
I am immensely optimistic (may be even more than Saylor) about the future of Bitcoin, in next ten years or so. But anything I go on-ramp in Bitcoin, and then have to off-ramp within next four/five years (because...life happens) is likely to be a net loss taking the spread into account.
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200 sats \ 0 replies \ @LibertasBR 7h
I understand that problems can arise, but I don't understand the challenges in your region. I understand that it may be necessary to have a fiat reserve. However, an opportunity has knocked on your door: pay in Bitcoin, get more suppliers and providers to accept it, and be able to pay less since you're paying in Bitcoin and not in inflated bullshit. As someone who knows nothing about anything and just analyzing what you've brought up, I see an excellent opportunity to further explore the true reason for Bitcoin's existence.
Saylor is a scammer.
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0 sats \ 0 replies \ @siggy47 10m
I own a little trailer in a modest trailer park (think Trailer Park Boys) that I have been renting for years. I have yet to find a tenant who will pay me in bitcoin, despite offering them discounted rent.
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0 sats \ 0 replies \ @optimism 26m
I don't think that this is hodler's dilemma because you're anyway paying the rent: left pocket or right pocket. If the onramp has friction, I'd seek ways to improve that rather than let go of an opportunity to use bitcoin as money. No pain, no gain.
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0 sats \ 1 reply \ @Rezn8 3h
In a sense. Sounds completely understandable why you want to HODL but i guess it also depends on the season you are in of your Life.
Depending on how much your landlord values sats/btc maybe you can negotiate a fixed amount. No matter the dip. Possibly instead of a full year do 4 months or maybe for 3 months at a time.
Maybe start a separate fund (not the cold storage sats) specifically to spend.
Everything priced in sats gets cheaper over time. Best of luck ! Please update how it'll go
P.S. i have a ticket to the hong kong bitcoin conference if you or anyone want it :)
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0 sats \ 0 replies \ @spiderman OP 47m
Is it btc Asia? I absolutely do man. Can contact me by email on swagatopablo@aol.com? Or give me your mail address
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0 sats \ 0 replies \ @daolin 5h
Buttcoiners are people who think cell phones will never work because you have to charge a battery, and for that you need an outlet, and an electric grid, and construction workers to build it, etc. As though any of that dilutes the magic of sharing voice with someone on another continent.
In the freer regions of the world, the play is generally to hoard as much BTC as possible, use leverage sparingly, experiment with different methods of payment and custody, while revising them as necessary as circumstances and your personal familiarity improve. We need something like a combination of optimism, discipline, and ambition, each reinforcing the other.
You can average out your purchases later and report everything on a single line. You're avoiding the worst tax already by avoiding fiat. Purists will say to live underground but personally I find it easier to pay the protection fee until the state's teeth have fully rotted away, especially if you earn a steady salary and are considering home ownership.
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0 sats \ 0 replies \ @bitcoingecko 6h
I would love to be able to pay my rent in Bitcoin!
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