All Forum Posts by: Michael Yenny

@Michael Haynes now you are talking my language I believe funding a roth IRA is the best option right now for my retirement. I don't know of any ETF's yet, I've heard of some Canadian ones but haven't really looked into them. I'm gonna keep on trucking for sure.

@Andres Vanegas yes I’m very familiar with stable coins pegged to the dollar. I’m not familiar with alchemix I will have to look into it. If it’s a smart contract on ethereum I’m definitely  interested. 

@Michael Haynes all very valid points. I do feel blessed to live in America and I have traveled around a lot of the Caribbean and to a few countries in South America, amazing places to visit. I’m already approved for plenty of money at a 2.7% interest rate with a fha loan. Yeah there is probably definitely going to be stress and headaches along the way. I also stay up late studying code and other DeFi investment strategies too. I’m pretty sure cardano calls that all apart of the hustle. I could just go buy an over priced house tomorrow fighting 20 other people but I’m not unless the deal makes sense. Gambling/poker sites can easily be rigged for the users unless the code is published on a blockchain I would not trust it. Blockchain technologies are the future. Yea many countries/governments have been trying to shut it down but they will fail doing so and be left behind. In America there is a saying “adapt or die“. The countries that understand the power of the blockchain and that decide that their paper currencies will never be superior to blockchain technologies will be far a head then governments that are trying to ban it. The best option they have is tax it and call it a pay day for them. I would think home owners insurance would cover someone destroying your nurse’s property(either way headaches for them and possibly a good opportunity for you). Also, I’m not looking to live on the wrong side of town. I’m looking for something within blocks or a few miles from the coast/bay. I’m sure other people are reading this if you have a wholesale property or good investment property by the water I’m interested. 

@Michael Haynes not sure how you are justifying me not doing my due diligence hence why I am here asking for advice. Also, not sure that I'm "crying with a full stomach" if anything I'm perfectly happy with a full stomach. I would love a 5% tax on every trade but not at the cost of my US citizenship. I have a lot of family and friends in the states and at this time have no desire to leave. That's awesome you are making a bunch of money day trading. I believe crypto is the evolution of money and any assets that make scene to permanently embed on a blockchain for public or private usage. Holding US dollar is looking more and more like a liability imo.

@Joshua Benjamins thank you Coinbase's lending is for 1 year at an 8% interest looks like it could be an option to offer a higher down payment homes by the beach are not cheap. Still looking into more defi options at this point. I'm wondering if any mortgage lending companies would be interested in a defi protocol that has offers a mortgage in a smart contract. I don't see any company offering this right now.

@Dillon Cook exactly why I'm looking to diversify into real estate hopefully between my job and house hacking I can accumulate more crypto

@Matthew Brill thank you! Yeah I have heard good things about blockfi but never really liked the idea of trusting a 3rd party with my keys. I've been looking into the Aave protocols which provides a .09% flash loan and my crypto would be locked in a smart contract. I have not used it yet but I'm going to test it out in small amounts and try to figure out how it works.

@Matthew Brill do you a safe way I could take a loan out on my crypto holdings without cashing out?

@Dillon Cook @Daniel Luke I just don't want to cash out to much of my crypto. Honestly, I'd like to cash out as least as possible. I'm already in the 24% tax bracket. If I cash out the crypto I will have to pay 22%-37% gains on it. Also, if I cash out to much of it I will jump to next tax bracket which is imo not worth it at all.

Hey,

I'm looking to enter the real estate market in Tampa, FL. I want to house hack or buy a multi-family home. 95% of my wealth is in crypto and I would like to diversify. I'm taking all advice and I'm thinking that I would do a FHA loan with 3.5% down.