All Forum Posts by: James Green

The transaction can be traced, but not the person. That's what makes it popular in the underground & one of the reasons why the banks don't accept it. Granted, once I know you as an individual are tied to a transaction, then I can see what you have done in the past and any future transactions. But I first have to positively identify the person with a certain transaction. The block chain being public is irrelevant, if I can't do that.

BTW, hardware wallets are insecure as well, just a little bit harder to crack into than the software based ones. Mainly because the opportunity to break into it, should not be available as much, as a software wallet. 

FYI, my day job "might be" focused around LEGALLY breaking into things out on the interwebs.

Interesting thread, although I think you just set up a straw-man argument with the statement about the internet in 1995. The internet was a viable platform back in the '90s. The internet companies that failed, failed because they didn't have a viable product or service, not because of the underlying technology of the internet. BC is not a currency being used by the masses for any reason.

Like I said earlier, I remember bitcoin when it first came out & it was still in the single digits per bitcoin. I could of mined it. I doubt most people even know that at one time, you could of "created" your own bitcoins & litecoins out of computing power magic. The novelty of bitcoin for non-criminals, was finding places that accepted bitcoin to spend. Bitcoin was also & still is the wild west in regards to it's use in the darkweb, the INSECURITY of storing your bitcoins, etc. Now they have exchanges, which are still not as secure as they are advertised to be by the operators. They are still insecure to those of us who know what they are doing & have a desire to steal bitcoins. I still remember an article about a guy who threw out some old hard drives, which unfortunately had his bitcoin wallet on them. At that time bitcoin was still in the $200-$500 range, and he had over a $1M in bitcoins on them. He was an early adapter and mined his coins.

Unlike bitcoin or other cryptocurrencies, we know where gold is stored. Once an exchange or your wallet is hacked, which has and still is happening, you are out of luck.

BC is still not a true investment, in that there is no underlying asset. Unless you count "hope it goes up" as an asset. I mean why is it today $16K vs several years ago when it was $500? What in the "real" world has driven the value up? Block chain is truly the investment. It's not a smoke & mirrors concept. It's straight up math & technology. Various industries are now starting to utilize it for true real world services. IMO, the "pipe dream" of BC is definitely driving the creation of all these other crypto currencies. With all of these crypto-currencies, which one is going to 1)be accepted by the world-wide banking industry, 2)be accepted by the regular man on the street that wants to buy some gas at a gas station, groceries, clothes, etc. At the price point now, BC can only be "used" for big ticket items & that if it is accepted. Sure  you can cash out, but what happens when a bubble is determined, like the housing & stock markets, it's value will crash and crash hard. If it is not accepted by the banking industry, it won't rebound to where it was. Parts of this country haven't rebounded from the real estate market crash.

I do wish I had spent more time setting up my lab to mine both BC & LC. Who knows, I definitely would of been a crypto multi, multi millionaire, but I doubt it b/c I'm sure I would of cashed out at some point before it headed north of several hundred dollars

@Drew Whitehead try to just deal with wholesalers, that contract off market properties. I see plenty of wholesalers in my area doing the same thing. They put a contract on a property that has been listed for 90+ days, then send it out at the same listed price or slightly lower & claim it's a "hot deal". I've reached out & try to explain to them that you have brought no value to the deal! If it's been on the market 90+ days, then plenty of investors have already passed the property by. They say "makes sense", then I see their email again in one of the meetup emails I get.

Have you every called one of them & tried to educate them or even asked them why they think its a deal?

@Jerry Shen how much higher are you "prognosticating" that bitcoin will go up? If you sell some now, will that be liquidating all your holdings? It's no different than those who hold stocks, then need to liquidate to purchase items. Yes they "may" lose some potential future value, but cash in hand for a needed purchase is better than holding on & the market tanks just before you need the money.

As a side note, the real true investment is in the underlying technology, block-chain, not in the crypto-currency of the month. There plenty of industries that are now seeing the value of block-chain. IMHO bitcoin has lost its earlier years luster of being able to purchase "real items" in the "real world". At $16K a coin, what can you purchase? Whose going to accept .0001875 of a bitcoin for a grande at Starbucks? I do remember the days when I could of harvested the coins, but I had a Win98 machine hooked up to a dial-up modem. DSL was not in my area yet, but I did have the software downloaded to do it. I just thought it was a little fad for nerds at the time.

@Michelle Poulos check out Michael Quarles owner of YellowLetters.com. He also has been interviewed on several podcasts on BP.

@Henry Washington hats off to the great start!! Also I applaud your wife to agreeing to move after only 2 years!! LOL! That's a true partner.

@Ayman Elmasik what you can do is bring one of your potential buyers by the property and have them look at it and make you an offer on the property. Take that, subtract whatever fee you are looking to get & there is your contract price. Other than doing it that way, you shouldn't market a contract on a property that you haven't put under contract.

@Dominique Poindexter I didn't mean for my response to come off condescending. This question had been asked before by a new wholesaler that thought wholesaling foreclosures was an "easier" deal to do. They were looking at a guru program about wholesaling MLS listed foreclosures.

Each state is more than likely different. I know where I am, there are tricky laws associated with investors buying houses that are in default, that if done incorrect can result in some hefty penalties(jail time).

@Dominique Poindexter, why?!?! Do you have cash to put down for the non-refundable EMD you will have to put down, once you sign a contract? Do you have a title company to do a double close? Do you have a buyer's list that you can close quickly, before your EMD goes hard?

Unless you have a well oiled system, this avenue may not be the best for you at this time.

@Mike O. I'm not sure what your question is, but your title company should be able to help. If not go to a local REIA and ask around for some advice.