Bitcoin Vs. Property: The Return of the Final Boss
You will spend your whole life trying to own high-maintenance physical property when you could have just bought bitcoin. The United States government can take your property from you for any reason or no reason at all (i.e. imminent domain). Whether you rent a house or buy a house, the utility of the home is just the same. And after you actually “ own” the home, there are still all types of maintenance costs (groundskeeping, landscaping, housekeeping, etc) and an annual property tax that would render property ownership undesirable.
Real estate is essentially overpriced property that’s also expensive to maintain. As stated in season 2 of bitcoin versus, bitcoin requires no maintenance cost and there is no yearly property tax to maintain ownership of bitcoin. It is certainly possible that bitcoin can absorb a significant portion of the total market cap of real estate. A 10% reallocation of wealth from real estate to bitcoin would result in 1 bitcoin being worth over $1,000,000 per coin.
Land preceded modern finance and therefore was not originally meant to be used as a derivative of fiat currency. Land is an insecure storage of value, and an inefficient unit of account. Land also does not work well as a means of exchange because of its clear lack of transportability.
Owning land is not only a weak form of money, it is also a very difficult asset to acquire, as there are many financial prerequisites that you must have before you are able to buy land in America. There’s no incentive to save your money to put a down payment on land, especially if there are an excessive amount of social and financial requirements that will deny you access to your God given right to own property.
Bitcoin is an affordable digital property with no maintenance cost. Transfer of value settles in approximately 10 minutes. It was Created to be used as a storage of value, unit of account, and a means of exchange. As the dollar continues to depreciate, bitcoin works as a hedge on inflation, among other things. It is a permissionless asset, which means that anyone can buy it with no financial or social prerequisites involved. Bitcoin is an asset that incentivizes you to save money.
The price of housing has increased significantly in recent years, making it more difficult for many Americans to afford to buy a home. There are a number of factors that have contributed to the rising cost of housing, including the increasing demand for housing in urban areas, the limited supply of available land for new construction, and the increasing cost of building materials.
Additionally, factors such as low interest rates and irresponsible lending standards during the housing boom of the 2000s contributed to the increase in housing prices. As a result, many Americans are finding it difficult to afford to buy a home, and the homeownership rate in the United States has declined in recent years.
The recent CPI report suggests that inflation is leveling off and it is possible that the prices we see today at the supermarket and in real estate will become the new norm. The truth of the matter is that the millennial and zoomer generation have been priced out of the housing market. The boomer generation was born in a window of time that allowed them to own a home without the need for an expensive secondary education.
More specifically, The value of real estate has significantly outpaced the average americans rate of pay and has consequently led to a decline in home ownership.
There has to be a collective shift in thought for the American working class to realize that an asset in cyberspace can be just as valuable as a tangible asset in real life. Most people think that ownership of land is the only way towards generational wellbeing and that is simply not the case any longer. Bitcoin is the most accessible form of property and it will be the catalyst to a global middle class without any real estate involved. And that makes the world a better place.