Blockchain real estate brainstorm
Most Popular Reply
Levi T.Pro Member
Rental Property Investor · Tucson AZ / Nice FR / Washington DC · Member since 2016 · 1k+ posts · 1k+ votesWe are seeing a lot of hype around using blockchain on stuff that does not need it, but if those startups want to be hot and sexy, you need blockchain in the game to turn heads. ICOs are the new IPOs for all startups. There is a reckoning coming for all those altcoins that are launching with zero value as a business that backing it.
As for what blockchain will do for real estate, counties that adopt it can stop dealing with clouded titles as blockchain will let us insure the owner on record is the owner, once a property is recorded to the blockchain. It wont be hard for them to adopt, it's basically a centralized BC ran by the county. It will also mean faster transfer and recoding.
I only see 2 futures for crypto:
As Currency: It lets people move money freely, cheaper, and it also provides them an exit out of their countries currency without a stock broker. When it comes to the currency side of things, the rest of the world will come first before America as my country is not like Grease or Zimbabwe in that respect yet. This market won’t have a lot of players, we don’t need 1,000 crypto currencies, only 2-3 really. I think our currency players are already defined in this respect, they just need time to stabilize more.
As Technology: On the other side of things, people are issuing coins for startup capital, if they are successful then your coin is worth more, this is what’s driving the value of these coins., from there you can buy or sell it on a open exchange, or maybe you can trade it in for stock at some point if they make the leap to a publicly traded company (I'm speculating on that last bit). It allows everyday people to get in on public offering without having to be a millionaire, it also allows companies to stay private and avoid all the regulation and red tape. Hopefully the SEC does not stomp on that and cut us out of the ICO market. Lots of regulation is headed our way in 2018 for America.
Right now we are is massive speculation mode, people are tossing whatever they can get to stick to the ICO market. There will come a shakedown at some point, that’s when we will see which tech companies emerge as the next Amazon or Facebooks of the world.
My top picks are BTC and ETH for currency. ICO alts are XRP, POWR, TRX, and RED (Launching in a few days). I'll be HODLing those till the end of time. I'm hoping BTC gets segwit2x implemented. It cost to much now of days to transfer, and it's slow as mud. If BTC fails to fix that issue, it's done for as a currency coin.
177 Replies
- 8yIan IppolitoBusiness MemberInvestor · Tampa, FL · Member since 2015 · 1k+ posts · 1k+ votes
@Marshall Hooper,
>>Ian: there's a difference between speculating and investing:>>Marshall: it's literally an action that an investor takes. an investor speculates that his investment has a better chance of making him money than losing him money. feel free to google it yourself or search Wikipedia for it while you're writing your own wiki page.
No. Words have definitions that anyone can look up. From the Google search of "what is the difference between investing and speculating"...here's the first of over 216,000 results from investopedia.
https://www.investopedia.com/ask/answers/09/differ...
>>i'm not even going to go down the wormhole that is your 1,2 and 3 response. it's not worth my time.
Hmmm...no time to make a factual defense of your position (for the second post). Yet somehow plenty of time to make another personal attack against me. (By the way, people can't write articles about themselves on Wikipedia. That's kind of the whole point of the Wikipedia editorial process.) ;)
>>the dad joke was simply that, a joke. the "drug dealer" argument was played out several years ago. fiat currency is used 10000x more than bitcoin for drug transactions. this whole drug dealer argument is completely mute.
For something that you claim was "played out" and disproved "several years ago", I again can Google hundreds of investigative pieces and articles in the last several months talking about bitcoin's extensive fraud and illegal activity problem. (below)
Comparing gross dollars of fraud between it and the US dollar is meaningless since there are trillions more of US dollars than bitcoin, so it's comparing apples to oranges. The issue is whether or not bitcoin is uniquely suited to certain types of fraud and illegal activity. It's sticking your head in the sand to deny and say that it isn't.
Bitcoin is uniquely suited for conducting online fraud (malware and cyber extortion) in a way that the US dollar isn't, because of all the "know your customer"regulations on the US dollar. And what's also true is that bitcoin is also uniquely suited for the selling of illegal goods and services in a way that US dollars aren't.
The Real Estate Crowdfunding Review - 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
Originally posted by @Ian Ippolito:
@Marshall Hooper,
>>Ian: there's a difference between speculating and investing:>>Marshall: it's literally an action that an investor takes. an investor speculates that his investment has a better chance of making him money than losing him money. feel free to google it yourself or search Wikipedia for it while you're writing your own wiki page.
No. Words have definitions that anyone can look up. From the Google search of "what is the difference between investing and speculating"...here's the first of over 216,000 results from investopedia.
https://www.investopedia.com/ask/answers/09/differ...
>>i'm not even going to go down the wormhole that is your 1,2 and 3 response. it's not worth my time.
Hmmm...no time to make a factual defense of your position (for the second post). Yet somehow plenty of time to make another personal attack against me. (By the way, people can't write articles about themselves on Wikipedia. That's kind of the whole point of the Wikipedia editorial process.) ;)
>>the dad joke was simply that, a joke. the "drug dealer" argument was played out several years ago. fiat currency is used 10000x more than bitcoin for drug transactions. this whole drug dealer argument is completely mute.
For something that you claim was "played out" and disproved "several years ago", I again can Google hundreds of investigative pieces and articles in the last several months talking about bitcoin's extensive fraud and illegal activity problem. (below)
Comparing gross dollars of fraud between it and the US dollar is meaningless since there are trillions more of US dollars than bitcoin, so it's comparing apples to oranges. The issue is whether or not bitcoin is uniquely suited to certain types of fraud and illegal activity. It's sticking your head in the sand to deny and say that it isn't.
Bitcoin is uniquely suited for conducting online fraud (malware and cyber extortion) in a way that the US dollar isn't, because of all the "know your customer"regulations on the US dollar. And what's also true is that bitcoin is also uniquely suited for the selling of illegal goods and services in a way that US dollars aren't.
@Marshall Hooper
Crypto is here to stay my friend...
“Mitsubishi UFJ Financial Group, Inc. (NYSE:MTU), the fourth largest bank in the world, plans to launch its own cryptocurrency exchange this financial year. According to reports from the country, MUFG has already notified the Financial Services Agency (JFSA) on the decision to launch an exchange.”
https://news.bitcoin.com/japans-largest-bank-to-launch-cryptocurrency-exchange/
- Investor · San Francisco, CA · Member since 2015 · 302 posts · 206 votes8y
This may have already been said but what about offering/ selling shares in specific deals in order to fund them and then utilizing the blockchain to keep track of said shares. Investors could sell their shares thus providing liquidity to their investment which would also be an incentive for them to invest in the first place. (a.k.a. they have an exit)
Pretty much like a REIT. Have to follow all SEC rules too obv.
- Investor · Houston, TX · Member since 2017 · 129 posts · 62 votes8y
Originally posted by @Nicholas Lohr:
This may have already been said but what about offering/ selling shares in specific deals in order to fund them and then utilizing the blockchain to keep track of said shares. Investors could sell their shares thus providing liquidity to their investment which would also be an incentive for them to invest in the first place. (a.k.a. they have an exit)
Pretty much like a REIT. Have to follow all SEC rules too obv.
yes, this exactly. thank you for some constructive non-derailing commentary with some thought behind it
- 8yIan IppolitoBusiness MemberInvestor · Tampa, FL · Member since 2015 · 1k+ posts · 1k+ votes
I think the promoters of tulips in the 1880s said the exact same thing. ;)
Also, Wall Street is always happy to take money from any average Joe who's willing to hand it over to them. Usually it's not the average Joe that's getting the good deal.
I've seen plumbers and landscapers who are buying as much bitcoin as they can with their savings and credit cards. I agree with Warren Buffett that: If it were possible to buy a five year put on bitcoin, that would be the real smart money bet.
https://www.barrons.com/articles/warren-buffett-wants-a-five-year-put-on-bitcoin-1515597388
(Cue the bashing of the most successful investor of our time because he's not a crypto-bug, in 3, 2, 1...).
The Real Estate Crowdfunding Review - Investor · Houston, TX · Member since 2017 · 129 posts · 62 votes8y
Originally posted by @Ian Ippolito:
I think the promoters of tulips in the 1880s said the exact same thing. ;)
Also, Wall Street is always happy to take money from any average Joe who's willing to hand it over to them. Usually it's not the average Joe that's getting the good deal.
I've seen plumbers and landscapers who are buying as much bitcoin as they can with their savings and credit cards. I agree with Warren Buffett that: If it were possible to buy a five year put on bitcoin, that would be the real smart money bet.
https://www.barrons.com/articles/warren-buffett-wa...
(Cue the bashing of the most successful investor of our time because he's not a crypto-bug, in 3, 2, 1...).
i'll sell you a 5 year put on bitcoin. what's your bid?
- 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
Originally posted by @Ian Ippolito:
I think the promoters of tulips in the 1880s said the exact same thing. ;)
Also, Wall Street is always happy to take money from any average Joe who's willing to hand it over to them. Usually it's not the average Joe that's getting the good deal.
I've seen plumbers and landscapers who are buying as much bitcoin as they can with their savings and credit cards. I agree with Warren Buffett that: If it were possible to buy a five year put on bitcoin, that would be the real smart money bet.
https://www.barrons.com/articles/warren-buffett-wa...
(Cue the bashing of the most successful investor of our time because he's not a crypto-bug, in 3, 2, 1...).
I like and respect Buffett, but in this case he’s admitted he knows nothing at all about crypto or blockchain. Frankly, because of this, he had no justification for his comment and it’s caysed me to lose respect for him. I’m not confident that Bitcoin will grow significantly. I believe that there are many other cryptos with a much brighter future...
We can agree to disagree.
- 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
This is just one example of how blockchain will impact real estate and real estate related businesses:
- Investor · New York City, NY · Member since 2015 · 808 posts · 417 votes8y
Seeing as we have had this discussion away from this forum a numer of times you will not be surprised that I agree with @Jon Q. here.
Let's say your right that Bitcoin is one of the dumbest investment fads out there right now. That doesn't really mean much for the future of block chain or its ability to grow and greatly reward those actually building things on it or using it. Bitcoin did three important things that I think will be long lasting well after a bubble bursts if it really is a bubble (let's just assume it is so we cannot have that argument). First, is the block chain itself which solves fundamental problems in computer science and trust based electronic commerce. Second, is a libertarian streak that has been bubbling up as trust has eroded from traditional institutions. As someone who loves history I would say this has been building since Nam and Nixon but certainly in the last few years since 2008. This is probably the more controversial part of Bitcoin but I think its here to stay but that a lot of mainstream crypto will basically ignore this in order to stay on good terms with governments and large companies. Already you see this from people like Vitalik (Etherum) who was against large institutions when this all started but is now working with them and from the market which has fallen in love with a very centralized crypto (Ripple). Third, is a move from “old” ways of doing things to digital as millennials become more prominent and take their place in the world.
I think all three of these things are here to stay. We can argue all day as to if Bitcoin will make it or be the AOL of this new world but Bitcoin does not need to survive for block chain to be important. I know of very few people who are not interested in blockchain and digital tokens. It’s the tech behind the crypto currencies referenced here. I wouldn’t be surprised if a large number of the cryptos are not here in 5 years but that is beside the point. Just like the internet itself or the app economy the success of blockchain does not depend on one crypto. Crypto is basically technology and like all technology it evolves and builds on itself. That evolution is healthy even if it means people lose a lot of money. Tulips are an awful comparison because tulips will always be tulips they will not evolve in hundreds of ways no one can even imagine. Already, powerful institutions and governments are starting to build on blockchain and this will continue as long as the technology is promising. I would think of blockchain more like a piece of software and less like a currency. The market aspect of it has let people bet on what is basically startup software. I can’t see the future but if it looks anything like other software outcomes fortunes will be made on some and lost on others as crypos and block chains fight for dominance. This is natural. Chrome was not the first browser, Google was not the first engine, Facebook was not the first social network and gasp BP was not the first bulletin board.
As for Bitcoin, I know of almost no one building only on Bitcoin. Very little is 100% dependent on Bitcoin’s success at this point. Even those accepting Bitcoin right now could adopt other currencies as anyone will a multi-currency wallet can attest to.
To be clear there is still a ton of uncertainty around Bitcoin and crypto in general and no one knows how it will play out. There are also structural issues from who owns what to the true economics of the crypto space. All this will play out in the years ahead just like it did with the internet space. Remember when people were wondering how on earth Facebook would monetize stupid what I ate today posts? I do. We are a long way from there now. Seems like only yesterday.
- Investor · New York City, NY · Member since 2015 · 808 posts · 417 votes8y
@Jon Q. would be great to hear more what you are doing with Blockchain.
- 8yTom GimerBusiness MemberDMV · Member since 2017 · 3k+ posts · 3k+ votes
Originally posted by @Jon Q.:
This is just one example of how blockchain will impact real estate and real estate related businesses:
By providing targets for the SEC Division of Enforcement?
Gimer Law516 Reviews - Wholesaler · Waldorf, MD · Member since 2015 · 459 posts · 245 votes8y
@Jon Q. how do you jump the shark by thinking that this model Bob's Repair will be accepted within real estate? Bob has knowingly accepted the volatility of the ETH currency. Then they have placed a value on their own Crypto-currency, based off of the ETH currency. What will happen if I buy 1 ETH that equals 6000 BOB, and ETH tanks. Sure the value of a dollar varies from country to country, but we are not in danger of it disappearing when another bright idea comes along for a US median of exchange.
Also, let's not confuse the proven LEGITIMATE technology of the block chain with the various speculative "internet monies". This reminds me of Pets.com. back during the dot.com bust. Just because you put a business on the Internet (proven technology), doesn't mean it will work. The business idea still needs to have an underlying valid business. These Ponzi currencies, still don't have an underlying asset other than hype & forced hope.
Sure people are making money on them now, but IMHO, there will be a lot of everyday investors getting killed in it. Either through a massive drop in value, lack of broad currency support (
http://bitcoinist.com/cryptocurrency-failures-all-time/), or through cybercrime.
As I continue to see, people are losing their life savings over these crypto-currencies because they believe that they are safe & secure. All it takes is one internet transaction to become a victim. Once that happens the next time you want to use your currency you may find your wallet empty, regardless of whether its software or hardware based.
- Wholesaler · Waldorf, MD · Member since 2015 · 459 posts · 245 votes8y
I did a simple review of some of the info on that BobsRepair site. I see so many red flags with this company. The idea may be good, but how this company is going to implement this idea AND who will be doing the implementation is questionable!
Here's an easy one:
Proven Track Record
The Prandecki brothers have previously facilitated over 50,000 service calls generating over $1,000,000 USD in revenue. They know the problems facing the home repair industry and how to fix them.
Seriously, they've generated over $1M in revenue on 50K service calls. That's only $20 a call. Is that gross or net? Is that one year, or several years? What does "facilitated" mean in the context of this sentence? What is the name of their company that did the facilitating?
I know that this company was just an example, but it was not a good one.
- 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
Here's another:
Have you had enough with Equifax data breaches?
Here's a new global credit agency/platform building built on the blockchain:
- 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
Originally posted by @James Green:
@Jon Q. how do you jump the shark by thinking that this model Bob's Repair will be accepted within real estate? Bob has knowingly accepted the volatility of the ETH currency. Then they have placed a value on their own Crypto-currency, based off of the ETH currency. What will happen if I buy 1 ETH that equals 6000 BOB, and ETH tanks. Sure the value of a dollar varies from country to country, but we are not in danger of it disappearing when another bright idea comes along for a US median of exchange.
Also, let's not confuse the proven LEGITIMATE technology of the block chain with the various speculative "internet monies". This reminds me of Pets.com. back during the dot.com bust. Just because you put a business on the Internet (proven technology), doesn't mean it will work. The business idea still needs to have an underlying valid business. These Ponzi currencies, still don't have an underlying asset other than hype & forced hope.
Sure people are making money on them now, but IMHO, there will be a lot of everyday investors getting killed in it. Either through a massive drop in value, lack of broad currency support (
http://bitcoinist.com/cryptocurrency-failures-all-time/), or through cybercrime.
As I continue to see, people are losing their life savings over these crypto-currencies because they believe that they are safe & secure. All it takes is one internet transaction to become a victim. Once that happens the next time you want to use your currency you may find your wallet empty, regardless of whether its software or hardware based.
Hey, I'm not an investor, nor do I know if Bobs Repair will succeed, but they have raised a lot of money. Frankly, I personally see lots of risks with their model, but they have experienced some success and raised quite a bit of cash from investors.
It's just one example of what is occurring. I can name 50-100 others that have raised $10-20 million.
- 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
Originally posted by @Jay Hinrichs:
@Account Closed since we have basically been registering deeds the same way for 500 years ..
It has been nice for title plants though to get everything digital instead of like back east were they still have to hire an abstractor to go into the courthouse to do a simple title search..
our title searchs here in Oregon are done in the phillipines for instance.
Jay,
Here's another example: ... a global credit agency/platform built on the block chain.
Think Equifax, but significantly more secure un-hackable and global in scale.
- 8yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
@Jon Q. Jon there are many things I understand in business.. and I can fly an airplane through the clouds on instruments with out the use of the autopilot :).. but I just don't understand this stuff.. its way over my head..
- Sherman Oaks, CA · Member since 2013 · 3k+ posts · 2k+ votes8y
I don't know if anyone noticed IBMs blockchain commercial during yesterdays NFLs game or not. They are gunho on this blockchain stuff and have partnered up with one top 10 players that I know of. As far as Buffet, he is the greatest, although when asked back when Amazon was $10 a share, he said that he did not understand how it was worth even that. So perhaps he is not exactly the best at future tech use predictions.
- 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
A FREE crypto course @ Princeton. This is lecture 1...
https://youtu.be/fOMVZXLjKYo?list=PLqn29N3j3wMgdsN42AABVkc8KbjFtd_GI
- 8yIan IppolitoBusiness MemberInvestor · Tampa, FL · Member since 2015 · 1k+ posts · 1k+ votes
@Charles Worth, Well, if I am wrong, it would not be the first time. In the end we will just have to see what happens. :-)
But actually I already completely agree that the future of blockchain technology itself is very bright. This is not inconsistent with believing that ICOs will collapse, because the two have nothing to do with each other.
The places where people have the best opportunities to use blockchain to create long-term business opportunities, are by using it as a distributed ledger in business situations. This has nothing to do with a new cyber currency or a new ICO.
And where people who don't understand technology get into trouble, is where they confuse the two completely different things, and assume both the likely one and the very implausible one are both going to happen.
So it is plausible and very likely that one day there could be a blockchain/distributed ledger that would allow real estate transactions to occur. However, going further as Jon did and saying that the transactions are ALSO going to be done in bitcoin or cyber currency (and not understanding how unsolvable the extreme volatility, lack of security, energy hog issues, etc. have been) is extremely implausible.
Saying that one day, loans may be recorded on a blockchain/distributed ledger is completely plausible and likely. Going a step further in saying that those loans are going to be conducted in bitcoin or some other hyper-volatile cyber currency, is extremely implausible.
Regarding the libertarian aspects of bitcoin: I do understand its appeal to people who believe in libertarian concepts. And no one likes excessive regulation, redtape and big brother, and those are all bad thing. But places in real life that are most libertarian have the least government/centralized oversight and are practically unlivable hellholes like Yemen, Rwanda etc.. To me, it's obvious that a balance has to be struck.
In my opinion, if bitcoin in the cyber currencies "grow up" and implement centralized control required to reduce volatility, they would actually have a decent shot of becoming long-term technologies. And at the same time, it is that huge libertarian streak that all the stakeholders have, and that is at its core, that makes me think it will never happen.
The Real Estate Crowdfunding Review - Realtor · Cleveland, OH · Member since 2015 · 2k+ posts · 857 votes8y
So is this now a sale pitch for a product?
I just can't grasp my head about block chain and real estate. If I were to put half of my tenants on the block chain for how I would rate them as a tenant....they would be homeless. I'm sure I'm not the only landlord with horror stories and once these tenants get their eviction records on the block chain who is going to rent to them?
I just don't see RENT Berry and Bee Token taking off.
- Investor · New York City, NY · Member since 2015 · 808 posts · 417 votes8y
While we can probably argue about the merits and/or lack thereof for Bitcoin all day including the libertarian aspects of it, its really more opinion in many cases as well as being an ongoing experiment. I will say that Yemen, Rwanda are not good examples of libertarianism to me because there are parties in control its just not the government. Personal freedom is certainly not high.
More to the point of our conversation, Bitcoin and crypto are not interchangeable. Today Bitcoin dominance is very low by historical standards and is only 34.4% so its evolved away from just Bitcoin. A lot of crypto people own almost no Bitcoin. Except through a fund I actually don't own any today (though there are arguments for its merits and I might buy some because of price).
Most of the things you mentioned are not necessarily problems for many cryptos. Energy hog is easily solved and many cryptos do not use proof of work (which is what uses the energy) or are switching off of it now. I don't think security will ever be solved but its definitely getting better and it already I would say is often better than the alternatives on the internet, which we use every day. Many of these are still a work in progress right now and we are far from the end but that is the evolution of most of the tech we use today. A lot of cryptos are also not libertarian, faceless bitcoin type systems. Many of the successful cryptos now are really more like companies with token structures. They are working in partnership with major companies, have developers that work for them or the non-profit behind the token, etc. Its not the decentralized no one is in charge type of crypto like you are referring to when you talk about Bitcoin (though core dev is actually really in "charge" of Bitcoin dev)
Also, I think saying that blockchain would exist without cryptocurrency is a tough argument. The currency is needed to reward participants, that is how most blockchains work and why is has been so successful. Without it there is really just a big database or open source project, which has existed for years.
Volatility and overall price bubbles (arguable obviously no one knows till its over) are def an issue but I would argue that for those working on the products and getting tokens this is part of the incentive. Most of the price action is up at the end of the day and as long as that is the case talent, energy and resources will keep flowing. What you end up with is some really great technology just like we saw with the internet, iphone apps etc.
- Denver, CO · Member since 2016 · 114 posts · 99 votes8y
Originally posted by @Jon Q.:
Originally posted by @James Green:
@Jon Q. how do you jump the shark by thinking that this model Bob's Repair will be accepted within real estate? Bob has knowingly accepted the volatility of the ETH currency. Then they have placed a value on their own Crypto-currency, based off of the ETH currency. What will happen if I buy 1 ETH that equals 6000 BOB, and ETH tanks. Sure the value of a dollar varies from country to country, but we are not in danger of it disappearing when another bright idea comes along for a US median of exchange.
Also, let's not confuse the proven LEGITIMATE technology of the block chain with the various speculative "internet monies". This reminds me of Pets.com. back during the dot.com bust. Just because you put a business on the Internet (proven technology), doesn't mean it will work. The business idea still needs to have an underlying valid business. These Ponzi currencies, still don't have an underlying asset other than hype & forced hope.
Sure people are making money on them now, but IMHO, there will be a lot of everyday investors getting killed in it. Either through a massive drop in value, lack of broad currency support (
http://bitcoinist.com/cryptocurrency-failures-all-time/), or through cybercrime.
As I continue to see, people are losing their life savings over these crypto-currencies because they believe that they are safe & secure. All it takes is one internet transaction to become a victim. Once that happens the next time you want to use your currency you may find your wallet empty, regardless of whether its software or hardware based.
Hey, I'm not an investor, nor do I know if Bobs Repair will succeed, but they have raised a lot of money. Frankly, I personally see lots of risks with their model, but they have experienced some success and raised quite a bit of cash from investors.
It's just one example of what is occurring. I can name 50-100 others that have raised $10-20 million.
I don't think capital raise is a good metric to use. The ICO boom is very similar to the dot-com boom in the late 90s. I don't see a lot of value in most of these companies. It won't end well.
I'm bullish on bitcoin but I'm bearish on 99% of other blockchain based projects.
- 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
Originally posted by @Jerry Shen:
Originally posted by @Jon Q.:
Originally posted by @James Green:
@Jon Q. how do you jump the shark by thinking that this model Bob's Repair will be accepted within real estate? Bob has knowingly accepted the volatility of the ETH currency. Then they have placed a value on their own Crypto-currency, based off of the ETH currency. What will happen if I buy 1 ETH that equals 6000 BOB, and ETH tanks. Sure the value of a dollar varies from country to country, but we are not in danger of it disappearing when another bright idea comes along for a US median of exchange.
Also, let's not confuse the proven LEGITIMATE technology of the block chain with the various speculative "internet monies". This reminds me of Pets.com. back during the dot.com bust. Just because you put a business on the Internet (proven technology), doesn't mean it will work. The business idea still needs to have an underlying valid business. These Ponzi currencies, still don't have an underlying asset other than hype & forced hope.
Sure people are making money on them now, but IMHO, there will be a lot of everyday investors getting killed in it. Either through a massive drop in value, lack of broad currency support (
http://bitcoinist.com/cryptocurrency-failures-all-time/), or through cybercrime.
As I continue to see, people are losing their life savings over these crypto-currencies because they believe that they are safe & secure. All it takes is one internet transaction to become a victim. Once that happens the next time you want to use your currency you may find your wallet empty, regardless of whether its software or hardware based.
Hey, I'm not an investor, nor do I know if Bobs Repair will succeed, but they have raised a lot of money. Frankly, I personally see lots of risks with their model, but they have experienced some success and raised quite a bit of cash from investors.
It's just one example of what is occurring. I can name 50-100 others that have raised $10-20 million.
I don't think capital raise is a good metric to use. The ICO boom is very similar to the dot-com boom in the late 90s. I don't see a lot of value in most of these companies. It won't end well.
I'm bullish on bitcoin but I'm bearish on 99% of other blockchain based projects.
Crypto currency and ICOs have totally disrupted fundraising as we know it. If you doubt that, wait 12-24 months. Raising capital in cryto isn't a bubble.
- 8yJon Q.Investor · Berkeley, CA · Member since 2015 · 1k+ posts · 713 votesOP
If you’re interested in investing in bitcoin, Etherium, litecoin or other crypto currencies and haven’t been able to register with Coinbase or Binance before they closed new user registration, due to 250,000 new users per minute, there’s a new crypto exchange launching shortly...
UPcoin is a NEW fast, safe and convenient crypto exchange, supporting both cryptos and buying with fiat currencies. Register now to ensure you’re able to get in. Trading starts in March 2018. If you register with this link, you’ll get $500 in trading fees covered:
Join the conversationCreate a free account to reply, vote on answers and follow this thread.