I found the following local Phoenix, Arizona based company called Time Token on Start Engine promoting investment in their cryptocurrency based vacation rental platform.
I think it's fascinating, but I'm not too sure what to make of it as a business model.
What are your thoughts? Is the the future or just "me-too" cryptocurrency hype?
I really like the idea of using cryptocurrency for STR's, but don't like how you have to buy into their specific coin in order to do so. Small market ICO's can be sketchy and that's exactly what this is. - A model that I could buy into would be to use one of the larger coins like BTC, LTC, or even NEO/ETH (which utilize smart contracts).
Cryptocurrency is real and it is going to penetrate all industries. Early adopters might "get shot being the first ones through the door" but they will pave the way for others who will do it right.
Yeah, I've often thought that some sort of trading platform that allows owners to swap time in their vacation rentals for time in other owner's vacation rentals would be nice. I guess this is sort of a bigger version of that.
Still not sure this is the right crypto approach for STR but it'd be interesting to watch. I'm generally positive on crypto so it's a nice idea if someone can get the right approach.
If cryptocurrency is just another currency, then accepting it is no different than, say, accepting Euros, Canadian Dollars or British Pounds for your vacation rental then converting to USD. You haven't gained anything (other than losing a few percent during the conversion). If you want cryptocurrency and you think it's a good "investment", then go buy some. (Spoiler: It's speculation, not investment). Or, invest in a sketchy startup IPO, or some penny stocks, or go to Vegas and bet it all on Red. All of these are similar "investments". I fail to see ANY relationship between property investing and cryptocurrencies.
Buy a property, earn some US dollars, and use them to buy more properties.
Lather, rinse, repeat, retire.
I'll add a reminder that Bitcoin has lost 62% of it's value in the last 6 months.
Isn’t the whole idea behind crypto to have total anonymity? Why else do it? So someone else can skim a profit off you? And if it is, I sure as heck don’t want them in one of my buildings.
OK perhaps I should have checked out the site before trashing the idea. They don't take cryptos for rent or investment they just use the crypto technology to generate their own private currency to keep track of what seems to be some kind of timeshare/REIT blend.
instead of a spreadsheet? If it’s only internal it’s not currency. It’s like I labeled marbles with the owners names and called it crypto currency so I would be hip and cool.
Sounds like a company trying to use a trendy hot topic to generate business. As another poster mentioned, it’s just another floating currency.
Maybe I should advertise a business using blockchain bitcoin machine learning with AI based on crypto currency. I may not even have to have a real product to profit from the hype
@Tim Schroeder were you here 7 months ago before the bitcoin crash? We had a large group of posters saying it was easy money and to get out of your other investments now!
Originally posted by @Steve B. :
Tim Schroeder were you here 7 months ago before the bitcoin crash? We had a large group of posters saying it was easy money and to get out of your other investments now!
Yep, it's easy money all right. Easy to make, and easy to lose. It surprises me that RE investors (who presumably are in this business because they see the benefits RE has) would be enticed by bitcoins. Bitcoins are more suitable for day traders or FX traders. I used to day trade back in the late 90's. I did fairly well, until one day I lost it all with a margin call in about 3 hours at the beginning of the dot-com bust.