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.
related posts
123 sats \ 12 replies \ @Natalia 15 Jan
not trying to kill the vibe, but if people pay their rental in BTC, it's a private matter and no one need to know anything and def none of the gov's business.
reply
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.
reply
70 sats \ 1 reply \ @TheWildHustle 15 Jan
Things will get interesting once normies find out that bitcoin is permissionless
reply
58 sats \ 0 replies \ @Natalia 15 Jan
oh yes, how funny that they asked the permission for the Bitcoin ETF, and not even the real Bitcoin. đ
reply
1 sat \ 0 replies \ @TNStacker 15 Jan
Says it all and should scare the hell out of you.
reply
1 sat \ 4 replies \ @Natalia 15 Jan
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:)
reply
0 sats \ 3 replies \ @0xbitcoiner OP 15 Jan
It was just people who follow the law. Of course, we can always break the law :)
reply
111 sats \ 2 replies \ @Natalia 15 Jan
it's actually not about breaking the law, it's about how you position yourself and the law.
https://darthcoin.substack.com/p/natural-law-and-bitcoin
reply
0 sats \ 1 reply \ @0xbitcoiner OP 15 Jan
It seems to be a question of semantics. We mustn't forget that a contract is between two or more people. What if the landlord wants to comply with the law?
reply
17 sats \ 0 replies \ @Natalia 15 Jan
either change the landlord or be patient:) đ
reply
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
reply
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
reply
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.
reply
32 sats \ 2 replies \ @hodlpleb 15 Jan
I donât get the big deal with this, or âgetting paid in bitcoinâ, 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.
reply
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.
reply
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
reply
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.
reply
8 sats \ 3 replies \ @ZezzebbulTheMysterious 15 Jan
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
reply
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.
reply
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.
reply
21 sats \ 0 replies \ @ZezzebbulTheMysterious 15 Jan
Sure, if you were paid only in sats and you had no fiat. I think Greshams law doesnât apply with a single money.
I think itâs generally a comment on spending hard assets on soft ephemeral things â 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.
reply
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
reply
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.
reply
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.
reply