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474 sats \ 3 replies \ @thecommoner 15 Apr \ on: What Would You Do With 50 Bitcoin? AskSN
This is really hard to lay out fully as a gift like that would literally change ones life....this reply is going to be a bit long so hodl on :)
I think it is important to note that I believe that deep down the rabbit hole of Bitcoin we are all looking for ways to constantly provide value to other through either 1) exchanging our Bitcoin with people or, 2) providing value to others in exchange for their Bitcoin. Either way this concept of HODL slowly fades due to the entropic characteristics of the network.
OK -
I would instantly inform my boss that I would be quiting as soon as they could find a replacement for me...
I would then begin the process of setting up a "non-profit" organization that's first focus would be on purchasing apartment buildings and immediately transforming them to run on my version of Bitcoin - which is - everyone pays a split amount of Bitcoin/FIAT - the FIAT paid is equal to the FIAT needs of the property and the Bitcoin paid is equal to the "profit" that the property would otherwise realize. That Bitcoin would then become the "Reserve Account" for the property after it first worked as an incentive for the residents that paid it... (That incentive would be a 50/50 split in any appreciation of the FIAT value of that Bitcoin as a discount on their future rent) (this is a simple concept that not many seem to understand in Bitcoin land....but I am confident it is coming)
The groundwork for this would all come out of my 50 Bitcoin and the non-profit would be the recipient of the other 50 Bitcoin -
My hope would be that "donor's" would allow me to purchase properties for cash (which would help ensure a "reasonable" price for the properties and allow me to maintain rents at below market rates which would help affordability and the rent credit would make them even more affordable for the residents - This will change the paradigm of housing from a Landlord vs. Tenant relationship to one that is Cooperative and where the tenant is incentivized to help the landlord/owner keep rents lower...less evictions/less lawsuits/less damage....everyone treats their apartment as their own due to the Bitcoin incentives coming through....
This flywheel of sustainability first becomes recognized locally as a good idea....then goes from their....before you know it - our housing crisis is over....
I know that seems like a lot - but its happening already with my little property...and once I get it set-up in a non-profit and start just giving rent discounts to my "FIAT" paying residents they will be incentivized to pay in Bitcoin in order to maintain the discounts.... this has the ability to onboard literally everyone in a fiarly short yet orderly manner....
or at least that's what I would do/am doing....the gift of Bitcoin would just let me do it now instead of over the next 1-10 years or so :)
What a dream :)
Great answer. I really like your real estate slant. Because of you, I just attempted to rent out a not so fancy little trailer park home in Florida for bitcoin. I offered a 10% discount for payment in bitcoin. I got no bites. I even attempted to convince some people that it would be really easy if they wanted to use cash app. It didn't work. They all thought I was scamming them.
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Same here no one took the bait for me a well
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:) - I have heard plenty about the "scammy" concerns as well - that's why I am leaning towards the just giving the "50/50 split in appreciated value" and then saying if you want it to continue you will have to "opt in" after a certain period or something....
still working on it - but things are slowly coming along!
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