A young man in South Korea used SHIB to pay for a house, and the developer accepted it by default?
This incident was like dropping a nuclear bomb in the peaceful cryptocurrency circle, causing an uproar.
Let's talk about SHIB first. Those of us who are in the cryptocurrency circle are quite familiar with SHIB. It has a unique temperament since its birth. Although it was not favored by many people at the beginning, it later made a name for itself in the cryptocurrency circle with its own popularity and the power of the community.
From the developer's point of view, accepting SHIB payment may be a marketing method. Once this matter spreads, their real estate will become famous and will attract a lot of attention. This kind of free publicity effect cannot be bought with a little money. Moreover, they may also have a certain understanding of SHIB and feel that SHIB has a certain value. Accepting it as a payment method will not bring them too much loss.
However, there are also many risks here. For this young Korean man, although he paid for the house with SHIB, the price fluctuation of SHIB is very large.
If the price of SHIB drops sharply, then his house is equivalent to buying it at a much higher price than before. It's like playing an exciting gamble, betting his property on the price of SHIB.
Accepting SHIB payments also faces many challenges. The first is how to convert SHIB into legal tender. This is not a simple matter, and you need to find a reliable trading platform and a suitable exchange channel. If there is a problem in the exchange process, such as the trading platform running away or the exchange price is not ideal, then the developer will lose a lot.
From the perspective of the entire currency circle, the impact of this incident is not small. It allows people to see a new application possibility of virtual currency in traditional fields.
In the past, we may think that virtual currency can only be used in the virtual world or some specific transaction scenarios, but now it can be used to buy a house. This is like opening a new door, giving people a broader imagination of the use of virtual currency
