Suva, Fiji · Member since 2017 · 52 posts · 23 votes
The value of bitcoin has skyrocketed, has anyone here cashed out yet for REI purposes? It seems ironic to use a highly volatile currency to fund a sometimes volatile industry. As real estate investors, do you find the crossover to currency/cryptocurrency trading is easy? Do they share many similarities? I would like to get more into Cryptocurrency investment myself.
Investor · Cleveland, OH · Member since 2015 · 6k+ posts · 2k+ votes
8y
@Tyrel McAllister, my son who's a "gamer" missed his opportunity to get into bitcoin early, but knows a fellow gamer who didn't miss, and who cashed (as it turns out, a little early) a few months ago, and has bought 20+ houses around Victoria, Australia, including his own home in arguably the best Melbourne suburb (Toorak). He's now a self-confessed retiree - aged: 21.
The value of bitcoin has skyrocketed, has anyone here cashed out yet for REI purposes? It seems ironic to use a highly volatile currency to fund a sometimes volatile industry. As real estate investors, do you find the crossover to currency/cryptocurrency trading is easy? Do they share many similarities? I would like to get more into Cryptocurrency investment myself.
I haven't found a seller yet who accepts crypto currency for their house.
The value of bitcoin has skyrocketed, has anyone here cashed out yet for REI purposes? It seems ironic to use a highly volatile currency to fund a sometimes volatile industry. As real estate investors, do you find the crossover to currency/cryptocurrency trading is easy? Do they share many similarities? I would like to get more into Cryptocurrency investment myself.
There was a poster the other day who sold one house I think for bitcoin or another. There are a couple crypto lenders and I can imagine more in the works. The two I am aware of have under a billion in capital but check back in a year, it could be closer to 100 billion? It is all so new still. I played a couple bucks for a couple and it is a bit illogical? The crap doubled in a couple days so I sold half....dumb move as it went up another near double in a matter of hours. I am not used to these absurd quick % returns. It is like having a company stock take over once a week effect compared to regular stocks maybe once in a lifetime. Idk if most of these cryptos last long term but a few might be the apples and amazons in this space.
I also understand that every crypto move now is a taxable event too just like flipping. The crypto stuff is really wild right now. I did see there was a bitcoin fund manager, minimum 50 bitcoins so 750k.
Investor · Columbus, GA · Member since 2014 · 2k+ posts · 1k+ votes
8y
I think the day will come when cryptocurrency will be widely accepted, but that day is nowhere near. In the meantime, I don't deal in digital money that isn't backed by the U.S. Treasury. The dollar is fiat currency, but it is the best game on the planet.
Investor · Wichita, KS · Member since 2017 · 584 posts · 813 votes
8y
@Tyrel McAllister I have a rental property I'll sell you for the cryptocurrency of your choice. I invest in both. The thing I like about real estate is that I get income every month and still retain the asset in the end. I like cryptocurrency because it's still super early and I bullishly think the lows keep getting higher and higher. If you can numb yourself to the volatility when the value drops considerably, you'll do well. I also see value in investing in platforms like Ethereum, Stellar, OmiseGo and Storj. I follow Dave Levine. I buy launched products, not stuff "in the works." I'm more of a venture capitalist than an angel investor. I hope that helps.
Investor · Cleveland, OH · Member since 2015 · 6k+ posts · 2k+ votes
8y
@Tyrel McAllister, my son who's a "gamer" missed his opportunity to get into bitcoin early, but knows a fellow gamer who didn't miss, and who cashed (as it turns out, a little early) a few months ago, and has bought 20+ houses around Victoria, Australia, including his own home in arguably the best Melbourne suburb (Toorak). He's now a self-confessed retiree - aged: 21.