All Forum Posts by: James Lane
James Lane has started 1 posts and replied 7 times.
Originally posted by @Joe Splitrock:
Originally posted by @James Lane:
Originally posted by @Joe Splitrock:
Originally posted by @James Lane:
Trade my sheep for your calf>> give you $5 in cash for you calf>> use my debit card to buy your calf>>BITCOIN for your calf.
It's evolution. Google CBDC's. Central bank digital currencies. Now we have governments in talks with crypto companies. Once that happens, bitcoins marketcap will be in the trillions.
I would diversify my portfolio to include cryppto to hedge against the USD. Purchasing power of the dollar is at an all time low. I owuldn't want to be keeping much cash right now
And bitcoin is at an all time high right now. I wouldn't want to keeping much in crypto right now. In fact if I owned crypto I would be selling right now. The USD is far more stable and secure over time. I prefer none of the above. I prefer physical assets like rental property. If the USD was replaced by crypto tomorrow, I could just start collecting that instead.
I said diversify by adding some crypto to my portfolio. That doesn't mean 100% of my portfolio. Bitcoin is at an all time high for a reason. By your logic we should all short the dow jones because it's also close to an all time high. The USD is not the powerhouse it once was. The fed can only pump so many $ and go into so much debt before it becomes a problem. Every other great world power has fallen. Romans, Greeks, Chinese dynasty etc. I am not saying the USA is going to fall down the drain tomorrow. I am saying people should be open minded when it comes to crypto and new technology. The same people who want to hold onto cash are the same people who complained about the internet. People who own clothing stores are now failing because of amazon and online shopping. if you are not adapting to the world around you, you will be left behind.
You may be a little dramatic here, comparing people with cash to people who complained about the internet. The internet and online shopping solves problems for people. Crypto is largely used (as currency) by people who don't want their activities tracked. That means people involved in illegal activity or wanting to avoid taxes. Crypto currency doesn't solve problems for the average person. Even if crypto currency gains traction, it is hard to say if a specific type such as bitcoin will even exist in the end. Any new technology has casualties along the way and often the first model fails. Napster was set to revolutionize music, only to be replaced by music streaming services. The lesson learned from Napster and other peer-to-peer services is that you cut out the middle man, but the middle man doesn't like that. Monetary systems like consistency. Once you add speculation into the mix, you have a fluctuating value, which doesn't work for the trade of goods and services. As much as you may not like the feds policies, they do aim to stabilize and provide a constant in currency and inflation.
Betting on non government issued crypto is betting against the government. Maybe a collapse or revolution is coming, but I am not sure even crypto is safe from something that catastrophic. My cousin claims when that happens that bullets and food will be the new currency. I agree you can make some money in crypto, but I just don't see it as more stable than the USD at this point. Ultimately I like real estate because there is a physical asset underlying the investment. That physical asset fills one core human need, which is shelter. What are you left with if crypto currency collapses? What human need does it fill?
No doubt people have made a ton in crypto currency. I just see it as speculative and risky. My opinion and you are entitled to yours.
Glad i'm involved with bitcoin and have a portion of my portfolio locked up in it. All the smart institutional money is now flowing into the crypto market. 2021 will see the market cap of crypto increase hugely. Even banks are now adding it to their portfolio's. All time high again today. You have a clear misunderstanding of what bitcoin actually is. But that's ok too. To each their own.
Originally posted by @Joe Splitrock:
Originally posted by @James Lane:
Trade my sheep for your calf>> give you $5 in cash for you calf>> use my debit card to buy your calf>>BITCOIN for your calf.
It's evolution. Google CBDC's. Central bank digital currencies. Now we have governments in talks with crypto companies. Once that happens, bitcoins marketcap will be in the trillions.
I would diversify my portfolio to include cryppto to hedge against the USD. Purchasing power of the dollar is at an all time low. I owuldn't want to be keeping much cash right now
And bitcoin is at an all time high right now. I wouldn't want to keeping much in crypto right now. In fact if I owned crypto I would be selling right now. The USD is far more stable and secure over time. I prefer none of the above. I prefer physical assets like rental property. If the USD was replaced by crypto tomorrow, I could just start collecting that instead.
I said diversify by adding some crypto to my portfolio. That doesn't mean 100% of my portfolio. Bitcoin is at an all time high for a reason. By your logic we should all short the dow jones because it's also close to an all time high. The USD is not the powerhouse it once was. The fed can only pump so many $ and go into so much debt before it becomes a problem. Every other great world power has fallen. Romans, Greeks, Chinese dynasty etc. I am not saying the USA is going to fall down the drain tomorrow. I am saying people should be open minded when it comes to crypto and new technology. The same people who want to hold onto cash are the same people who complained about the internet. People who own clothing stores are now failing because of amazon and online shopping. if you are not adapting to the world around you, you will be left behind.
Trade my sheep for your calf>> give you $5 in cash for you calf>> use my debit card to buy your calf>>BITCOIN for your calf.
It's evolution. Google CBDC's. Central bank digital currencies. Now we have governments in talks with crypto companies. Once that happens, bitcoins marketcap will be in the trillions.
I would diversify my portfolio to include cryppto to hedge against the USD. Purchasing power of the dollar is at an all time low. I owuldn't want to be keeping much cash right now
I would use some to invest in cryptocurrncy. I would also use some to buy euros. Anything to hedge against the USD which is a shambles.
Post: Looking for a brokerage- Just finished the state exam
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Excellent points, thanks guys. I think I will go for a brokerage with a lot of hands-on training to start. I'm more worried about gaining a lot of knowledge at the start rather than the money. Money will come later. Aiming to get as skilled as possible in this industry as quickly as possible and make as many contacts as I can in that time.
Post: Looking for a brokerage- Just finished the state exam
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- Votes 7
Thank you Nate. Interesting points that I will take onboard.
Post: Looking for a brokerage- Just finished the state exam
- Posts 7
- Votes 7
Hello BiggerPockets,
This is my first post on the site. I just finished the NYS real estate salesperson exam. I would appreciate any advice/tips on finding the best brokerages in my area(I live in Astoria Queens but am also interested in working in Manhattan). I currently work in union construction in the city but want to make the switch to real estate.
My thought process is this: google brokerages in my area. Email 15 of them and see what they all offer. Pick my favorite and start working my @ss off. Is this the right way to be thinking?
Long term plan is to be a real estate investor. I think working in the field for a couple of years should give me a big head start to be fully prepared when ready to invest my capital (especially through the all the networking).