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10 sats \ 1 reply \ @Bitcoiner1 OP 7 Dec \ parent \ on: BTC fuck me up bitcoin_beginners
Thanks for sharing your knowledge.
if you want to own a piece of land and live in a homestead
I really want to back up Darth on this specifically.
More Bitcoiners should understand that real estate isn't inherently a hard asset like Bitcoin, but it can be if done tactically. Real estate obviously has carry costs such as maintenance and taxes unlike Bitcoin, but you still need a place to live which then makes renting a carry-cost on Bitcoin itself.
Historically, where one can use fiat debt as purchasing leverage, a legacy property won't under-perform Bitcoin by much. I upgraded homesteads 5 years ago, and the coin I used for that down payment would be about the same fiat value as the property appreciation since then. So, I've broken-even financially over 5 years while my family has also benefited from a better quality of living.
To reiterate differently what Darth is saying, don't buy a "house" just to avoid paying rent to someone, you'll be on the losing side of that trade. Buy something rare and worthy of your Bitcoin that satisfies the subconscious human desire of getting back to Eden.
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