You could borrow against your BTC to pay for the house, or at least a down payment. You can also do the same for the mortgage payments. But ideally if you have mortgage payments, you have income you can use to pay. And ideally, the price of BTC goes up enough over time that paying back the loan is "free" (it could also go the other way and you get liquidated if you cannot maintain your collateral ratio, so be careful with that). There is also the option of selling BTC for fiat to buy the house / make the down payment, which likely has tax implications and of course you lose exposure to BTC price movements. Good luck and happy house hunting!
Find someone willing to sell there house for bitcoin? You could approach any house owner selling and say you will pay x but it has to be in bitcoin can also have it sent to you in 10 minutes instead of a week or more
Well only talking for my part of the world I’d have to report my gain/loss to tax authorities just like selling the bitcoin for cash then any property related fees like stamp duties etc which would have to be done in fiat cash money currently anyway as the gov isn’t accepting the number one Bitcoin yet
I have wondered about this as well. I don't feel comfortable with this whole refinance with new debt to pay old debt. Saylor and others talk about it as though it's a nothing burger, but for some reason, it doesn't sit comfortably with me. I don't know why, and I would like to find out. I would like to understand what that thing that is acting as a thorn is.
Indeed it keeps you one feet inside the system, but thinking about buying a house with sats and the likelyhood of that ending up in an exchange for blackrock or sailor to buy is terrifying. It's different from buying coffee that who receives will very likely spend on other small businesses or hodl.
Yes. In Miami there have been a few houses that have gone on the market for BTC before. In fact a couple of them were discounted if you paid in BTC slightly the price in USD was higher since the seller wanted BTC.
You sell the bitcoin pay the taxes qualify for a smaller house after you've been shanked by the tax man and then you still need to pay property tax and other property carrying costs while you watch that 1 Bitcoin continue to sky rocket in value
You could borrow against your BTC to pay for the house, or at least a down payment. You can also do the same for the mortgage payments. But ideally if you have mortgage payments, you have income you can use to pay. And ideally, the price of BTC goes up enough over time that paying back the loan is "free" (it could also go the other way and you get liquidated if you cannot maintain your collateral ratio, so be careful with that). There is also the option of selling BTC for fiat to buy the house / make the down payment, which likely has tax implications and of course you lose exposure to BTC price movements. Good luck and happy house hunting!
You don't buy a house. That's stupid. You rent it if you really need it to live into.
You will remember my words.
I'm afraid of buying a house because I don't know yet what's gonna be my permanent place to live. I heard Austin is cool AF though
So the place where you're building the house yourself is a rental?
Haha, hate it when i agree with Darth
Find someone willing to sell there house for bitcoin? You could approach any house owner selling and say you will pay x but it has to be in bitcoin can also have it sent to you in 10 minutes instead of a week or more
And what do u do with tha taxes?
Taxes for realising your gains from the bitcoin or the taxes involved with housing?
Both scenarios
Well only talking for my part of the world I’d have to report my gain/loss to tax authorities just like selling the bitcoin for cash then any property related fees like stamp duties etc which would have to be done in fiat cash money currently anyway as the gov isn’t accepting the number one Bitcoin yet
So it's not only bitcoin...
No not really
You make fiat debt
How do u pay it?
So you have zero income in fiat?
Bitcoin standard
So you get paid in sats?
I don't said that. I said that I don't have fiat right now and only have bitcoin to buy a house. It's only an example to view what would you do.
then you must find a country like Switzerland and just make the tx.
https://inv.nadeko.net/watch?v=tAMAdLtzvzo
I have wondered about this as well. I don't feel comfortable with this whole refinance with new debt to pay old debt.
Saylor and others talk about it as though it's a nothing burger, but for some reason, it doesn't sit comfortably with me. I don't know why, and I would like to find out. I would like to understand what that thing that is acting as a thorn is.
Indeed it keeps you one feet inside the system, but thinking about buying a house with sats and the likelyhood of that ending up in an exchange for blackrock or sailor to buy is terrifying. It's different from buying coffee that who receives will very likely spend on other small businesses or hodl.
houses are shitcoins
shitcoins you can live in
Yes. In Miami there have been a few houses that have gone on the market for BTC before. In fact a couple of them were discounted if you paid in BTC slightly the price in USD was higher since the seller wanted BTC.
Use strike’s loan product (if you have fiat/sat flow). Cross your fingers and hope you don’t get liquidated. Pay your 14% APR and be happy
You sell the bitcoin pay the taxes qualify for a smaller house after you've been shanked by the tax man and then you still need to pay property tax and other property carrying costs while you watch that 1 Bitcoin continue to sky rocket in value