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Bitcoin Songsheet: The Fiat Reality Of Real Estate

This is an opinion editorial by Jimmy Song, a Bitcoin developer, educator and entrepreneur and programmer with over 20 years of experience.

Real estate is a fiat possession.

Not only is it ridiculously expensive, but it’s also difficult to maintain. Anyone that buys property is buying themselves a job. It’s the epitome of the quote from Fight Club: “The things that you own end up owning you.” What’s worse is that the rights over your property are limited.

Governments love pumping real estate because it gives people a sense of security and because it’s easy to tax — and pump it they do. Through mortgages and favorable tax treatment, home ownership has been a tool in the game of bread and circuses in which governments are continuously engaged. They use real estate as a way to both mollify and control. As a result real estate is a centralized, tenuous form of ownership, dependent on the whims of politicians.

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