Bitcoin Rent Agreement: Landlord And Tenant Sign BTC Contract In Argentina \ stacker news ~bitcoin

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Bitcoin Rent Agreement: Landlord And Tenant Sign BTC Contract In Argentina cointelegraph.com/news/bitcoin-rent-agreement-argentina-landlord-tenant

937 sats \ 24 comments \ @0xbitcoiner 15 Jan bitcoin

In Rosario, the third most populated city in Argentina, a local landlord and a tenant have sealed a rental agreement where the latter will pay monthly rent in Bitcoin. According to a report in the local newspaper Paginal 12 from Jan. 11, the contract is the first of its kind in Argentina, made possible by recent law amendments by the new presidential administration.

The monthly payment under the sealed contract will equal $100 in Bitcoin. The tenant will transfer the funds monthly through Fiwind, a local crypto platform. The report highlights that both counterparties to the contract are experienced crypto users.

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32 sats \ 2 replies \ @hodlpleb 15 Jan

I don’t get the big deal with this, or “getting paid in bitcoin”, when all they are doing is converting the current exchange rate.

The watershed moment will be when your rent or your salary is proved in bitcoin - 100,000 sats/month rent or 1,000,000 sats / month salary.

31 sats \ 0 replies \ @SpaceHodler 15 Jan

That may take a while. And then rents and salaries will have to drop on a regular basis to remain constant in real terms.

10 sats \ 0 replies \ @scottathan 15 Jan

Yeah, but it's still a step forward, especially compared to the inflationary peso they were dealing with beforehand

11 sats \ 0 replies \ @cryotosensei 15 Jan

Reminds me of how the Spanish can buy almost 300 homes with Bitcoin or Ethereum in Marbella, Alicante and Barcelona. In fact, Spain is leading the global cryptocurrency property market.

8 sats \ 0 replies \ @cryptofolyo 15 Jan

The better choice for a rental agreement in todays world if dealt in crypto would be Ample Spot which is an inflation resistant flat coin. Where ample is resistant to cantillon effect of FIAT. I have written an article about that https://bit.ly/dollarhyperinflation

8 sats \ 3 replies \ @ZezzebbulTheMysterious 15 Jan freebie

Why would you pay a landlord in BTC? Paying precious sats for ephemeral shelter is absurd.

Greshams law -- 'bad money drives out good' -- would indicate that you should rationally pay in the most inflating asset first. Pay em in fiat, and watch it decay.

Paying rent in bitcoin is irrational

0 sats \ 0 replies \ @chairman_pretense 15 Jan

It gets interesting when the landlord starts paying a contractor to do property maintenance in Bitcoin, who in turn buys their materials from a hardware store in bitcoin etc.

It's how circular economies can begin to form.

Even if the original tenant is only spending and replacing.

0 sats \ 1 reply \ @0xbitcoiner OP 15 Jan

For example, it makes sense if your income is bitcoin. It won't be the only situation that makes sense, for sure.

21 sats \ 0 replies \ @ZezzebbulTheMysterious 15 Jan

Sure, if you were paid only in sats and you had no fiat. I think Greshams law doesn’t apply with a single money.

I think it’s generally a comment on spending hard assets on soft ephemeral things — I can accept spending sats on vacation experiences (memories are personal assets) but rent is so pedestrian than one will regret, over the decades, the sats that were bled for housing extortion with nothing to show for it.

0 sats \ 0 replies \ @PlebeiusG 15 Jan

Didn't read the article but have a question: what currency is the rent denominated in?

Please zap this note, rofl.

But really, wish AI would be integrated in a way where I don't have to read anything or do literally any work, then can PAY to ask a question (that's the trade-off). If it's novel, I get an Agent to work on it and answer for everyone.

0 sats \ 0 replies \ @fredosha 15 Jan

My landlord would give you 1 Bitcoin and take 10 dollars because the latter is more in numbers.

123 sats \ 12 replies \ @Natalia 15 Jan

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5 sats \ 9 replies \ @0xbitcoiner OP 15 Jan

agreed. But the government still has to allow rents to be paid in different currencies. I'm not saying it has to be this way, I'm saying that this is the reality.

70 sats \ 1 reply \ @TheWildHustle 15 Jan

Things will get interesting once normies find out that bitcoin is permissionless

58 sats \ 0 replies \ @Natalia 15 Jan freebie

oh yes, how funny that they asked the permission for the Bitcoin ETF, and not even the real Bitcoin. 👀

1 sat \ 0 replies \ @TNStacker 15 Jan

Government still has to allow.

Says it all and should scare the hell out of you.

1 sat \ 4 replies \ @Natalia 15 Jan freebie

But the government still has to allow rents to be paid in different currencies.

hmmm, I didn't ask permission from anyone, but to have a talk with the owner to choose the currency that we both happy about, and that's only between us, no one need to know anything:)

0 sats \ 0 replies \ @franzap 15 Jan

Reality is that landlords in Argentina still want to sign contracts (including where the warranty/insurance is stipulated) that I believe a notary has to sign. Before Milei's amendments they wouldn't sign the contract if it was denominated in anything other than ARS

8 sats \ 0 replies \ @scottathan 15 Jan

They ought to be able, but it was previously illegal to do so. Despite Bitcoin being state resistant money, many of us still don't want to go to jail for light or transient reasons and thus try not to get on the wrong side of the law. Milei's reforms just recently made it so that people can do it without the cops showing up

100 sats \ 0 replies \ @petertodd 15 Jan

What's happening here is they the government has changed the laws to make it clear that they agree with you.