Buttcoin

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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] 7 points 9 months ago

yeah, this has been PR-pushed to all sorts of papers

the blockchain is immutable, which is why the pitch for real estate on the blockchain remains unchanged since 2015