Post
Topic
Board Economics
Re: Buying a house with bitcoin
by
wasserman99
on 29/08/2014, 17:57:57 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.
It is generally not a good idea to try to defend yourself against a mugger that has any kind of a weapon. If someone is willing to pull a gun or a knife on you then they might as well be willing to use it against you. If you give them what you want then the worst that will generally happen is they will get whatever valuables you have on your person at the time.