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6 sats \ 2 replies \ @megaptera 6 Oct 2023 \ on: How does Bitcoin help fix the housing and rental markets? 🤔😮💨 bitcoin
Today, a lot of real estate is purely used as a store of value, which goes up and up but has a price to maintain. As soon as Bitcoin sucks up all of that value, prices for houses will drop and become affordable again, which will also translate to cheaper rents.
GPT spat this out... "The notion that Bitcoin could entirely replace real estate as a store of value and drastically lower housing prices is speculative. Bitcoin's role as a store of value and its impact on the real estate market are complex and influenced by various factors, including government regulations, market dynamics, and affordability issues. While Bitcoin may have an effect on certain segments of the real estate market, it's unlikely to be the sole driver of universally lower housing prices, as housing affordability depends on a range of economic, regulatory, and regional factors."
Bitcoin is also mainly a store of value and has a price to maintain. Assuming Bitcoin will suck up this value and people will dump housing is a scenario I hope will happen...
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Yes. It's not wrong but also ₿ is a black hole
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