Satoshisview

When I ran the numbers on renting and investing the difference vs. buying a home, I used national averages and y'all lost your minds. Fair enough. This time I used two real listings in Durham, NC with matching bedrooms and comparable square footage. Apples to apples. The properties: - For sale: 305 Reynolds Ave — $389,000 / 3bd 2ba / 1,580 sqft - For rent: 1526 Smoky Mountains St — $1,950/mo / 3bd 2.5ba / 1,658 sqft The setup: - Mortgage rate: 6.50% (30yr fixed, 10% down) - Durham combined property tax rate: 0.99% - Home insurance: $1,721/yr (avg for 27707 zip) Buyer monthly cost (Year 1): - P&I: $2,213 - Property tax: $321 - Insurance: $143 - Maintenance (1%): $324 - PMI: $146 Total: $3,148/mo Renter monthly cost (Year 1): - Rent: $1,950 - Renters insurance: $14 Total: $1,964/mo The renter saves $1,184/mo. Plus the $50,570 in down payment and closing costs never leaves their pocket. All of it goes into $VOO. This time I'm accounting for what everyone said I missed: Assumptions: - Rent increases 3.5%/yr (it is NOT frozen) - Property tax increases 2%/yr - Home insurance increases 3%/yr - Home appreciates 3.4%/yr (avg since 1891) - S&P 500 returns 10%/yr (long-term avg) - PMI drops once equity hits 20% - Selling costs: 6% (agent commissions + transfer taxes) - Capital gains tax: 15% on stocks - Home sale exclusion: $500K (married couple) All results are AFTER taxes and selling costs Results: 1. After 10 years: - Renter net (after cap gains tax): $299K - Buyer net (after selling costs): $214K Renter wins by $85K 2. After 20 years: - Renter net: $815K - Buyer net: $519K Renter wins by $296K 3. After 30 years: - Renter net: $2.16M - Buyer net: $971K Renter wins by $1.19M "But rent will be $5,473/mo in 30 years." Yes. And the renter's portfolio generates $18K/mo at a 10% return. Even at a conservative 4% withdrawal rate, that's $7,200/mo. You can pay rent and still never touch the principal. What this still doesn't capture: - HELOC access / borrowing against equity - Refinancing if rates drop - Forced savings effect (most renters won't invest the difference) - Intangible value of ownership, stability, no landlord - HOA fees (if applicable) - Major repairs beyond 1% (roof, HVAC, plumbing) - Geographic differences: these numbers are Durham, NC. Your market will be different. A home is a place to live. It can also be a great financial decision depending on your market, discipline, and goals. But the "renting is throwing money away" crowd needs to run the numbers before they say that. Not financial advice. Run your own numbers.

The latest quantum papers from Google and Caltech are an important signal for the industry. Timelines are still debated, but the time to act is now. The good news: post-quantum cryptography exists. This is a solvable problem, and many chains already have roadmaps. Bitcoin needs to catch up though. The bad news: post-quantum cryptography is relatively new and it would be fairly easy to create new security risks if implementation is rushed. The industry needs to align on what happens to wallets that fail to migrate before a CRQC appears. At Coinbase, we’ve been working on this for a while, auditing and upgrading our internal infrastructure, researching post-quantum cryptography and establishing a Quantum Advisory Council. It’s clear Bitcoin needs to make some fast progress here, so Coinbase is taking the role of rallying the troops and getting the right people in the room - Bitcoin core devs and the broader community - so they can start tackling this. But no one developer or company can do this alone. Real progress will require coordinated action across the ecosystem. If you’re working on post-quantum approaches for Bitcoin, we want to support you, and connect you with others that are working on it too. Please DM me directly and I’ll get you added to the working group. Bitcoin can and will upgrade, but it will take the entire community working together.