Post
Topic
Board Economics
Re: Buying a house with bitcoin
by
TheButterZone
on 28/08/2014, 04:32:27 UTC
I'll be depressed until the day 1 btc can buy you one house
It can! Have a look in Detroit.
This technically isn't true. Even if you were to buy the house as an asset for $500 (~1 BTC) you would first have to pay a lot more then that in order to make the house habitable. You would also have the increased tax payments to the state and local tax authority that you would likely need to pay if you were to move from out of state and have the same income. Not to mention the likely medical bills from the increased chances of getting mugged and the replacement costs of your assets that would have a much greater chance of getting stolen.

Considering you can actually defend yourself in Detroit, I don't think being a mugging victim (as opposed to an attempted mugging victim) is that big of a threat.