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In my country if you rent a house you must put up a bond usually 4 weeks rent so say rent is $500 per week $2000 bond is required and is held by a rental authority in a trust account
With about 30 + % of people renting I see the potential for someone to overhaul this and let Bitcoin be used for your bond.
So you put up say $2000 or maybe you have to put up more to allow for the volatility and you transfer that into a holding wallet or maybe a multi sig with the property owner?
Then if the bitcoin price pumps you can then take some back if you go X amount above the bond requirement and on the flip side if the price drops by x you need to put more up etc..
Having a lot of BTC used and held in storage would have to be a good thing instead of using the fiat junk and id think that as it hasn’t been sold there is no tax implication and as it’s all about holding for long term that bond has the potential to grow in value instead of cash just losing value locked in a trust account
What’s the thoughts on this?
on the flip side if the price drops by x you need to put more up etc..
And if you don't have more to put up?
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Not sure be some clause that they won’t get it back at the end of lease not sure
What’s your thoughts?
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Well, the risk of loss of my coin due to exchange rate risk would cause me to be disinterested in using such a tool.
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Yes true how could that be overcome?
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бессмысленно. уже проходили и знаем результат.
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why would people want to do that? "If the price of this volatile asset goes down, you need to deposit more into your rental bond or face eviction" isn't something that sounds super appealing if you're just trying to rent a place to live.
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I wouldn’t think you would be evicted over it you would just need to top it up . Same as you do when your rent gets put up you need to add the extra bond in to get to the new rate
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My thoughts are that I would prefer to see more rent to own properties and much less rent until you leave properties. I also think that if long term thinkers come together to build multi tenant buildings for say their children or themselves or rent to own Condo models, that this would be much more beneficial for the people living in an area. In this scenario, everyone wins.
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I would find it hard to get a lot of traction on rent to buy unless the buyer agreed to a highly inflated buy price to make the seller see value in the delayed income from selling in that fashion. Interested to see how we can make this better
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Why is it every time I suggest rent to own people act like its some fictional theoretical thing?
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I like the idea just don’t see how it would work. I own a rental property and also rent my self in different cities. I would rent to own for sure
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