Buttcoin

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Buttcoin is the future of online butts. Buttcoin is a peer-to-peer butt. Peer-to-peer means that no central authority issues new butts or tracks butts.

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"Tokenized" investments in real estate (elpais.com)

submitted 9 months ago by [email protected] to c/[email protected]

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Yesterday, the business section of El País, the Spanish newspaper of record, published this story.

It details how now people are investing in "tokens" using the blockchain, in something that looks pretty much like a regular REIT to me. 12 % average annual return, 6 % to 10 % MER. I already know the end of this movie.

I've contacted the local regulator (the Spanish SEC if you want) and asked them if they have published any information about this ~~scam~~ very sophisticated product.

I was wondering if this is also a thing outside of Spain. We can't have been the first ones to invent this shit.

If you can't access it due to the paywall I can send you a PDF, just DM me.

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[–] [email protected] 3 points 9 months ago

Image what happens if the house becomes a money pit, needs repairs, is trashed, etc.

ordinary REITs deal poorly with residents pouring concrete down the drain on their way out (it’s the one thing you can do to cost them a significant amount of money, if you don’t mind the personal risk); the mental image of a REIT that handles it even worse due to short-sighted crypto shit is very funny to me