Premise: You were in early on the train and bought in at a few thousand for a couple hundred bucks when bitcoin was mere pennies. Then you caught the rise up to the 1000 mark...and spent a bunch of it to buy some awesome real estate.
Bitcoin continues to drop, effectively reaching its demise with no real support. It's dead, Jim. All she wrote, and so on. Everyone calls it fake, no commodity, no currency. Monopoly money.
Question: Since you bought all the real estate with virtual currency that's essentially monopoly money, no longer of any value, can the people you bought it from come back with hella judgments against for compensation in actual currency or otherwise repossess your holdings for non payment?
Would any of you think to include a clause in any contracts that state flat out that in the event the currency used for the purchase is ever defunct or worthless they're the ones SOL and not you?
It could happen
Bitcoin continues to drop, effectively reaching its demise with no real support. It's dead, Jim. All she wrote, and so on. Everyone calls it fake, no commodity, no currency. Monopoly money.
Question: Since you bought all the real estate with virtual currency that's essentially monopoly money, no longer of any value, can the people you bought it from come back with hella judgments against for compensation in actual currency or otherwise repossess your holdings for non payment?
Would any of you think to include a clause in any contracts that state flat out that in the event the currency used for the purchase is ever defunct or worthless they're the ones SOL and not you?
It could happen