I found the perfect coin for /biz/ - REEEEEEEEEE coin

productive waste of time at least

>>3053722
>https://101recoin.com/uploads/en/Recoin_WhitePaper.pdf

This only works if the whole world's real estate market adopts it right? I mean it seems like a great idea

>>3054862
I wonder who gets to live in the nice real estate...

>>3054862
No.
It's actually backing the currency with something of value, which will appreciate over time and could conceivably generate revenue if they are rented out (doesn't say what happens to rental income).
The point that mining proceeds will be mostly used to buy new properties should mean the asset value keeps increasing as it is mined.
It's a nice investment if you can't own a house, and the asset price gets away from you because you should be able to save for one.
There will be tonnes of catches all over the place here, the devil is in the details (the ico prob goes towards the founders new mansion, and a few moving parts as to how many people adopt it before it is used etc) - but at least conceptually it's a good idea.
If it is done properly, you could expect the coin to track global asset prices more closely, and it would be a good coin to keep accumulating unless the coins market cap was higher than the property portfolio used to back it.
If it moons more than the market cap value it would be a good idea to dump it and buy back when global real estate prices fall.