Re:Cryptonomicon: Among the Bitcoin maximalists
by landemva on Saturday February 26, 2022 @11:37AM
(#30479054)
In my experience in usa it is cheaper and easier to buy real estate with btc. Can still use closing company, if you want to pay those fees. This is just starting, and your tastes may vary. It's nice to have choice.
Re:Cryptonomicon: Among the Bitcoin maximalists
by igorkraw on Saturday February 26, 2022 @11:44AM
(#30479138)
In Europe, we just have functioning wire transfers. Fails number 1
Re:Cryptonomicon: Among the Bitcoin maximalists
by landemva on Saturday February 26, 2022 @11:55AM
(#30479270)
In USA closing companies use certified checks. BTC is cheaper and faster than literally having the closing company clerk drive certified checks to various banks.
You don't have to use it, though it works well in some situations and very well in big transactions. But you must be in a position to pay the entire purchase price and not rely on fractional reserve lenders to provide the funds to purchase the property. Since I don't need lenders, why would I use the structures that are in place to protect the lenders?
1. does things which aren't already solved for cheaper using standard finance (for example, splitwise makes splitting bills easier, there are disposable credit card solutions, within crypto multi-sig accounts for the masses could be one idea) 2. is not just enabling other people to do something with crypto or building out the "doing something with crypto" capabilities (i.e., the product is used to do what real finance does - facilitate and simplify services and manufacturing of goods. Not trading, not infrastructure for trading, not derivatives, not loans...) 3. Is profitable or generates organic revenue (i.e., has customers actually using their product and paying them for it)
Alternatively, show me one company or freelancer denominating their prices in bitcoin, without tying it to the dollar indirectly.