Can bitcoin be utilized in real estate?
Investor · Atlanta, GA · Member since 2013 · 3k+ posts · 3k+ votes
Can bitcoin be utilized in real estate?
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Denver, CO · Member since 2013 · 409 posts · 105 votes
12yYou know a bubble has reached its peak when...
150 Replies
- Rental Property Investor · Miami, FL · Member since 2017 · 2k+ posts · 911 votes8y
Originally posted by @Amy Wan:
The problem with all this isn't the tech itself. It's that there's still a whole regulatory framework around usage of cryptocurrency, for which compliance is costly, so the real question is--once you factor in cost of compliance, is it still worth it? The tech is fancy-smancy and "nice to have", but the value proposal has to take all this into account.
I keep seeing folks now who want to apply ICOs (initial coin offerings) to real estate--which is fine, except that you're still selling a security. The coin is merely a digital stock certificate, if you will.
You're right, there needs to be some sort of regulation in order for it to be legitimized.
- 8yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Antoine Martel:
Originally posted by @Amy Wan:
The problem with all this isn't the tech itself. It's that there's still a whole regulatory framework around usage of cryptocurrency, for which compliance is costly, so the real question is--once you factor in cost of compliance, is it still worth it? The tech is fancy-smancy and "nice to have", but the value proposal has to take all this into account.
I keep seeing folks now who want to apply ICOs (initial coin offerings) to real estate--which is fine, except that you're still selling a security. The coin is merely a digital stock certificate, if you will.
You're right, there needs to be some sort of regulation in order for it to be legitimized.
I don't se ICO's as selling securities
Not if structured correctly.
There are always ways around the legal "mumbo jumbo" with good verbiage
Grey area? Yes, but still it can be done and they are doing it raising billions with the SEC doing nothin about it
- Rental Property Investor · Miami, FL · Member since 2017 · 2k+ posts · 911 votes8y
Originally posted by @Engelo Rumora:
Originally posted by @Antoine Martel:
Originally posted by @Amy Wan:
The problem with all this isn't the tech itself. It's that there's still a whole regulatory framework around usage of cryptocurrency, for which compliance is costly, so the real question is--once you factor in cost of compliance, is it still worth it? The tech is fancy-smancy and "nice to have", but the value proposal has to take all this into account.
I keep seeing folks now who want to apply ICOs (initial coin offerings) to real estate--which is fine, except that you're still selling a security. The coin is merely a digital stock certificate, if you will.
You're right, there needs to be some sort of regulation in order for it to be legitimized.
I don't se ICO's as selling securities
Not if structured correctly.
There are always ways around the legal "mumbo jumbo" with good verbiage
Grey area? Yes, but still it can be done and they are doing it raising billions with the SEC doing nothin about it
Yes I think it is a grey area. But I don't think the SEC is going to let this grey area slide for very long.
- Encino, CA · Member since 2017 · 36 posts · 24 votes8y
Originally posted by @Engelo Rumora:
I would sit tight on this anything crypto right now.
It will explode (In a bad way)
Just like during the Dotcom bust. There where a few survivors with the likes of Amazon and Ebay.
Wait it out and let's see who the winners of the crypto bust will be
Bitcoin or whoever else.
Just my opinion.
I completely disagree, if you look at the Dotcom Inflation Adjusted Market Cap (8 Trillion) compared to the Crypto Total Market Cap (160 Billion) it's clear to see that it is very early in the race. While things can escalate very quickly (and they do), institutional money has yet to enter the market. I see the market rapidly rising in market cap over the next 12-24 months in which then the average consumer purchases and holds these Crypto-Currencies, then we will potentially be in bubble territory.
- Investor · Madras, OR · Member since 2013 · 12 posts · 1 vote8y
I've been investing in Bitcoin for about 3 weeks and really had no idea what I was doing or what it was. I saw the charts, the money that could be made and I HAD to jump in. I looked at a few "Groups" and found one I really liked. It offers free training on Bitcoin and at first I was skeptical because what's "free" now a days....but I signed up anyway and I have to say, I'm really enjoying the knowledge I have acquired and its been very beneficial to me. They answer any tax questions, how you can exchange bitcoin, reinvest it if your want or simply check it out.
No additional adds or promoting the "get rich quick" stuff.
Pretty cool place to get info.
- 8yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Anthony Bertolino:
Originally posted by @Engelo Rumora:
I would sit tight on this anything crypto right now.
It will explode (In a bad way)
Just like during the Dotcom bust. There where a few survivors with the likes of Amazon and Ebay.
Wait it out and let's see who the winners of the crypto bust will be
Bitcoin or whoever else.
Just my opinion.
I completely disagree, if you look at the Dotcom Inflation Adjusted Market Cap (8 Trillion) compared to the Crypto Total Market Cap (160 Billion) it's clear to see that it is very early in the race. While things can escalate very quickly (and they do), institutional money has yet to enter the market. I see the market rapidly rising in market cap over the next 12-24 months in which then the average consumer purchases and holds these Crypto-Currencies, then we will potentially be in bubble territory.
It still looks expensive in my opinion and I wouldn't touch it.
If I don't make it in before the crowd, I like to stay away from the crowd lol
Thanks
ps. Did you get the answers you where looking for in the Ohio Cashflow thread?
- Encino, CA · Member since 2017 · 36 posts · 24 votes8y
Originally posted by @Engelo Rumora:
Originally posted by @Anthony Bertolino:
Originally posted by @Engelo Rumora:
I would sit tight on this anything crypto right now.
It will explode (In a bad way)
Just like during the Dotcom bust. There where a few survivors with the likes of Amazon and Ebay.
Wait it out and let's see who the winners of the crypto bust will be
Bitcoin or whoever else.
Just my opinion.
I completely disagree, if you look at the Dotcom Inflation Adjusted Market Cap (8 Trillion) compared to the Crypto Total Market Cap (160 Billion) it's clear to see that it is very early in the race. While things can escalate very quickly (and they do), institutional money has yet to enter the market. I see the market rapidly rising in market cap over the next 12-24 months in which then the average consumer purchases and holds these Crypto-Currencies, then we will potentially be in bubble territory.
It still looks expensive in my opinion and I wouldn't touch it.
If I don't make it in before the crowd, I like to stay away from the crowd lol
Thanks
ps. Did you get the answers you where looking for in the Ohio Cashflow thread?
I personally believe Bitcoin, while still under-valued in the long term, it is due for another pull back. This would go into a deeper discussion regarding an upcoming Technological and Political change that Bitcoin will be going through next month. There are things that are much more under-valued such as Ethereum, Monero and a few others. Those are still far from the average consumers hands, although Bitcoin is quickly approaching.
I reviewed one of the original threads about Ohio Cashflow but had to tune-out due to the constant banter back and fourth between you and (I believe) one of the early investors; it came across very unprofessional. I apologize if this is blunt. The posts were from a few years ago and maybe that was in the early development stages. It still was a bit off-putting.
- 8yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Anthony Bertolino:
Originally posted by @Engelo Rumora:
Originally posted by @Anthony Bertolino:
Originally posted by @Engelo Rumora:
I would sit tight on this anything crypto right now.
It will explode (In a bad way)
Just like during the Dotcom bust. There where a few survivors with the likes of Amazon and Ebay.
Wait it out and let's see who the winners of the crypto bust will be
Bitcoin or whoever else.
Just my opinion.
I completely disagree, if you look at the Dotcom Inflation Adjusted Market Cap (8 Trillion) compared to the Crypto Total Market Cap (160 Billion) it's clear to see that it is very early in the race. While things can escalate very quickly (and they do), institutional money has yet to enter the market. I see the market rapidly rising in market cap over the next 12-24 months in which then the average consumer purchases and holds these Crypto-Currencies, then we will potentially be in bubble territory.
It still looks expensive in my opinion and I wouldn't touch it.
If I don't make it in before the crowd, I like to stay away from the crowd lol
Thanks
ps. Did you get the answers you where looking for in the Ohio Cashflow thread?
I personally believe Bitcoin, while still under-valued in the long term, it is due for another pull back. This would go into a deeper discussion regarding an upcoming Technological and Political change that Bitcoin will be going through next month. There are things that are much more under-valued such as Ethereum, Monero and a few others. Those are still far from the average consumers hands, although Bitcoin is quickly approaching.
I reviewed one of the original threads about Ohio Cashflow but had to tune-out due to the constant banter back and fourth between you and (I believe) one of the early investors; it came across very unprofessional. I apologize if this is blunt. The posts were from a few years ago and maybe that was in the early development stages. It still was a bit off-putting.
You seem to be much more sophisticated then I am when it comes to the crypto currency world :)
As for the "banter" between one of our investors and myself.
You commented on our thread 6 days ago but you say the "banter" was a couple of years old.
Seems quite contradicting to me.
I'm super glad that Ohio Cashflow turns down 90% of business and most of that is due to folks like yourself.
My apologies if the above is blunt.
I wish you much success with your real estate and crypto endeavors
- Encino, CA · Member since 2017 · 36 posts · 24 votes8y
Originally posted by @Engelo Rumora:
Originally posted by @Anthony Bertolino:
Originally posted by @Engelo Rumora:
Originally posted by @Anthony Bertolino:
Originally posted by @Engelo Rumora:
I would sit tight on this anything crypto right now.
It will explode (In a bad way)
Just like during the Dotcom bust. There where a few survivors with the likes of Amazon and Ebay.
Wait it out and let's see who the winners of the crypto bust will be
Bitcoin or whoever else.
Just my opinion.
I completely disagree, if you look at the Dotcom Inflation Adjusted Market Cap (8 Trillion) compared to the Crypto Total Market Cap (160 Billion) it's clear to see that it is very early in the race. While things can escalate very quickly (and they do), institutional money has yet to enter the market. I see the market rapidly rising in market cap over the next 12-24 months in which then the average consumer purchases and holds these Crypto-Currencies, then we will potentially be in bubble territory.
It still looks expensive in my opinion and I wouldn't touch it.
If I don't make it in before the crowd, I like to stay away from the crowd lol
Thanks
ps. Did you get the answers you where looking for in the Ohio Cashflow thread?
I personally believe Bitcoin, while still under-valued in the long term, it is due for another pull back. This would go into a deeper discussion regarding an upcoming Technological and Political change that Bitcoin will be going through next month. There are things that are much more under-valued such as Ethereum, Monero and a few others. Those are still far from the average consumers hands, although Bitcoin is quickly approaching.
I reviewed one of the original threads about Ohio Cashflow but had to tune-out due to the constant banter back and fourth between you and (I believe) one of the early investors; it came across very unprofessional. I apologize if this is blunt. The posts were from a few years ago and maybe that was in the early development stages. It still was a bit off-putting.
You seem to be much more sophisticated then I am when it comes to the crypto currency world :)
As for the "banter" between one of our investors and myself.
You commented on our thread 6 days ago but you say the "banter" was a couple of years old.
Seems quite contradicting to me.
I'm super glad that Ohio Cashflow turns down 90% of business and most of that is due to folks like yourself.
My apologies if the above is blunt.
I wish you much success with your real estate and crypto endeavors
hahahaha I didn't mean to offend you Engelo. The post I was referring to can be seen below:
https://www.biggerpockets.com/forums/92/topics/185...
While my post was 6 days ago, that doesn't mean I didn't do my due diligence and review previous content! If you (or anyone else) reads through those posts I am sure we can all say it was more of a banter based discussion than a serious look into Ohio Cashflow LLC and what they can offer investors.
You are the front facing executive for your organization, be careful how you represent your brand and how you treat potential customers.
Furthermore, care to expand on why you are bunching me in with "the 90% that Ohio Cashflow turns down"? I look forward to your response.
- 8yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Anthony Bertolino:
Originally posted by @Engelo Rumora:
Originally posted by @Anthony Bertolino:
Originally posted by @Engelo Rumora:
Originally posted by @Anthony Bertolino:
Originally posted by @Engelo Rumora:
I would sit tight on this anything crypto right now.
It will explode (In a bad way)
Just like during the Dotcom bust. There where a few survivors with the likes of Amazon and Ebay.
Wait it out and let's see who the winners of the crypto bust will be
Bitcoin or whoever else.
Just my opinion.
I completely disagree, if you look at the Dotcom Inflation Adjusted Market Cap (8 Trillion) compared to the Crypto Total Market Cap (160 Billion) it's clear to see that it is very early in the race. While things can escalate very quickly (and they do), institutional money has yet to enter the market. I see the market rapidly rising in market cap over the next 12-24 months in which then the average consumer purchases and holds these Crypto-Currencies, then we will potentially be in bubble territory.
It still looks expensive in my opinion and I wouldn't touch it.
If I don't make it in before the crowd, I like to stay away from the crowd lol
Thanks
ps. Did you get the answers you where looking for in the Ohio Cashflow thread?
I personally believe Bitcoin, while still under-valued in the long term, it is due for another pull back. This would go into a deeper discussion regarding an upcoming Technological and Political change that Bitcoin will be going through next month. There are things that are much more under-valued such as Ethereum, Monero and a few others. Those are still far from the average consumers hands, although Bitcoin is quickly approaching.
I reviewed one of the original threads about Ohio Cashflow but had to tune-out due to the constant banter back and fourth between you and (I believe) one of the early investors; it came across very unprofessional. I apologize if this is blunt. The posts were from a few years ago and maybe that was in the early development stages. It still was a bit off-putting.
You seem to be much more sophisticated then I am when it comes to the crypto currency world :)
As for the "banter" between one of our investors and myself.
You commented on our thread 6 days ago but you say the "banter" was a couple of years old.
Seems quite contradicting to me.
I'm super glad that Ohio Cashflow turns down 90% of business and most of that is due to folks like yourself.
My apologies if the above is blunt.
I wish you much success with your real estate and crypto endeavors
hahahaha I didn't mean to offend you Engelo. The post I was referring to can be seen below:
https://www.biggerpockets.com/forums/92/topics/185...
While my post was 6 days ago, that doesn't mean I didn't do my due diligence and review previous content! If you (or anyone else) reads through those posts I am sure we can all say it was more of a banter based discussion than a serious look into Ohio Cashflow LLC and what they can offer investors.
You are the front facing executive for your organization, be careful how you represent your brand and how you treat potential customers.
Furthermore, care to expand on why you are bunching me in with "the 90% that Ohio Cashflow turns down"? I look forward to your response.
Not offended at all mate.
I've been around the block so I have thick skin.
I just call out fluffy BS like I believe that you're portraying on a public forum.
With that said, Ohio Cashflow's name has now popped up quite a few times over the last 3 posts and that makes me extremely happy as we get a boost in traffic and more investors inquiring about our company (I encourage everyone to click on the link you have provided and have read. While you're at it, might as well check out this site also - http://turnkey-reviews.com/directory/listing/)
I'm proud to say that the investors that actually conduct their due diligence unlike you would know that to date, no one has lost money at the hands of Ohio Cashflow.
We make a tonne of mistakes but always come good on our word.
"You are the front facing executive for your organization, be careful how you represent your brand and how you treat potential customers"
If only I could get a dollar for every time I heard that lol
I wear my heart on my sleeve for Ohio Cashflow and every investor that has invested with us, thus I come across rude and raw in many instances.
We aren't desperate for the business unlike all the other turnkey companies.
If we don't feel it's the right fit, then we turn down the business.
For you to make assumptions on a perception of online "banter" isn't an investor that my team or myself would want to work around the clock for insuring the success of his/her portfolio.
I appreciate the exchange
Have a great day
- 8yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Matt R.:
I tried to sell a paid off home via bitcoin 3, 4 years back. No luck or takers but I did not give it a full chance I think. If I was able to and kept it in bitcoin....let's just say I doubt I would be on bp this minute.
We are actually working on a strategy now to potentially start selling our turnkey properties in Crypto currencies.
Just looking for ways to not be exposed to the volatility if we take this route.
Originally posted by @Engelo Rumora:
Originally posted by @Matt R.:
I tried to sell a paid off home via bitcoin 3, 4 years back. No luck or takers but I did not give it a full chance I think. If I was able to and kept it in bitcoin....let's just say I doubt I would be on bp this minute.
We are actually working on a strategy now to potentially start selling our turnkey properties in Crypto currencies.
Just looking for ways to not be exposed to the volatility if we take this route.
The volatility will make you rich. But if you don't want to hold bitcoin you can use a payment processor like Bitpay which will allow you to accept bitcoin and convert it to fiat without any volatility risk.
- Encino, CA · Member since 2017 · 36 posts · 24 votes8y
You are coming to a Hazy Generalization which (in my view) has turned into a clear Straw Man, thus ignoring my position. You have then pointed fingers at "all the other" turnkey companies with a Ad Hominem attack.
Wow. It appears my due diligence conducted, which was reflected in my original post, was in fact an accurate analysis.
- 8yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Rehan A.:
Originally posted by @Engelo Rumora:
Originally posted by @Matt R.:
I tried to sell a paid off home via bitcoin 3, 4 years back. No luck or takers but I did not give it a full chance I think. If I was able to and kept it in bitcoin....let's just say I doubt I would be on bp this minute.
We are actually working on a strategy now to potentially start selling our turnkey properties in Crypto currencies.
Just looking for ways to not be exposed to the volatility if we take this route.
The volatility will make you rich. But if you don't want to hold bitcoin you can use a payment processor like Bitpay which will allow you to accept bitcoin and convert it to fiat without any volatility risk.
We are actually looking into Bitpay after reading this article - http://www.businessinsider.com/ultimo-founder-mich...
I'm a bear on it for now but see a great future ahead for sure.
So make sure to check us out in the years to come because "DingoCoin" might be able to buy some properties haha
- 8yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Anthony Bertolino:
Quite a few Ad Hominem attacks in there bud. It appears my due diligence conducted, which was reflected in my original post, was in fact an accurate analysis.
My apologies you feel that way and for disappointing you.
I'm sure there are other companies that can better fit your needs as our methods just aren't suited for everyone.
Much success
- Investor · Cleveland, OH · Member since 2015 · 6k+ posts · 2k+ votes8y
Originally posted by @Engelo Rumora:
Originally posted by @Matt R.:
I tried to sell a paid off home via bitcoin 3, 4 years back. No luck or takers but I did not give it a full chance I think. If I was able to and kept it in bitcoin....let's just say I doubt I would be on bp this minute.
We are actually working on a strategy now to potentially start selling our turnkey properties in Crypto currencies.
Just looking for ways to not be exposed to the volatility if we take this route.
Pity it's taken nearly four years for you to finally arrive at this strategy, right?
Nearly 4 years ago you wrote on this thread that you "believe the ship has potentially already sailed on this one". Think of the profits you missed out on!
[Yes, I know: everyone's smart - afterwards!]
The question now is: has that ship really sailed yet? Cheers...
- 8yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Brent Coombs:
Originally posted by @Engelo Rumora:
Originally posted by @Matt R.:
I tried to sell a paid off home via bitcoin 3, 4 years back. No luck or takers but I did not give it a full chance I think. If I was able to and kept it in bitcoin....let's just say I doubt I would be on bp this minute.
We are actually working on a strategy now to potentially start selling our turnkey properties in Crypto currencies.
Just looking for ways to not be exposed to the volatility if we take this route.
Pity it's taken nearly four years for you to finally arrive at this strategy, right?
Nearly 4 years ago you wrote on this thread that you "believe the ship has potentially already sailed on this one". Think of the profits you missed out on!
[Yes, I know: everyone's smart - afterwards!]
The question now is: has that ship really sailed yet? Cheers...
The ship did indeed sale 4 years ago when it hit $1,000 the first time.
The super early adopters that knew about Bitcoin in 2011 are the true winners here.
All the other folks will soon end up in tears.
It's not a "pity" at all but rather a missed opportunity (They say that the average folk stumble across 5-7 multi-million dollar opportunities every day but we just don't realize them)
I've made my millions through real estate and still continue to do so.
A couple of days ago I just realized that I bought a tonne of Litecoins for fun on December 17th of 2013 hehe
Spent 5 full days syncing my wallet and upgrading it in order to recover them all.
LTC had a decent run over the last 7 days
I suggest everyone jump on the life raft as "she is about to sink"
Much success
- 8yJ. MartinPro MemberRental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
ahhhhh... many years later, the bitcoin talk comes back again. I sold a few bitcoin too early (and missed out on about $30K lol). But still made a nice chunk of change, and just received my Bitcoin Cash. Have a few of those now, along with some litecoin, ripple, and others I've had since my posts way back years ago.
@Engelo Rumora,
Is it a bubble? Certainly.
But I don't mind speculating on a bubble with a small portion of my net worth ;) I think I have about $0 net invested since I sold some bitcoin earlier, so why not let the rest ride..? It can only go down to zero, but up who knows...? Anyway, pure speculation in a bubble, but I encourage it for the money you can afford to lose. Nothing else is this volatile to have the chance of producing phenomenally outsized returns for basically no effort. Or it goes to almost nothing, and laugh it off ;)Just my 2 cents...
And anyone is still welcome to buy my 4plex for bitcoin at about $50-100K above market, as offered up several years ago. And the bitcoin price has gone down since last time!! - it'll only cost you a handful! ;)
- Investor · Atlanta, GA · Member since 2013 · 3k+ posts · 3k+ votes5y
It's 7 years later and I'm revisiting this post to see if selling real estate with crypto has more feasible options now. Things have changed a lot and I'm thinking of listing one that way
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