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#460247 - 01/06/18 04:23 PM Bitcoin and Real Estate
Jeffrey Terrell Offline
Junior Member

Registered: 01/06/18
Posts: 1
Loc: Kansas
A $500k home in Kansas was recently purchased with Bitcoin, and a ton of my colleagues, friends, and family have been asking me about Bitcoin, so here are some basics:

Explain Bitcoin Like I'm Five

https://medium.freecodecamp.org/explain-bitcoin-like-im-five-73b4257ac833

Bitcoin 101 Video

https://www.youtube.com/watch?v=JIxwTx7o_B4

Buy Bitcoin

https://www.coinbase.com/join/592a24aa810de700c16447c2

Buy Alt Coins

https://www.binance.com/?ref=16175100

Asset Tracking

https://cointracking.info?ref=A349046

Mining

https://www.genesis-mining.com/a/1767216

Hardware Wallet

https://www.ledgerwallet.com/r/2325

Security (especially 2FA)

https://arstechnica.com/information-technology/2016/12/a-beginners-guide-to-beefing-up-your-privacy-and-security-online/

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#460248 - 01/06/18 05:02 PM Re: Bitcoin and Real Estate [Re: Jeffrey Terrell]
Long Walk Online   content
Member

Registered: 06/27/08
Posts: 206
Loc: New Hampshire
Jeffrey --

That is good info, but you might want to check in with a moderator before posting all those URL's.

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#460254 - 01/07/18 07:48 AM Re: Bitcoin and Real Estate [Re: Jeffrey Terrell]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7774
Loc: Vermont's North-East Kingdom
Originally Posted By: Jeffrey Terrell
". . . A $500k home in Kansas was recently purchased with Bitcoin, and a ton of my colleagues, friends, and family have been asking me about Bitcoin, so here are some basics . . ."

Interesting . . . . but WHY would they ask YOU ?
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#460276 - 01/08/18 06:45 PM Re: Bitcoin and Real Estate [Re: Vermont]
VABroker Offline
Veteran Member

Registered: 11/02/10
Posts: 1063
Loc: Virginia
My thoughts exactly, particularly with all those urls posted. Think maybe a 'broker' of some sort but NOT a real estate broker, eh? Bitcoin fluctuates so fast I'd never give it a try. I just got my 401k back. Sure do wish 'the market' wouldn't fluctuate so much. I don't see how anyone can count on retirement if money is tied to a 401k account or other market retirement account. I can retire next year, but, will I be able to STAY retired the following year?

I still think "salesman" cause it's another 'new' poster with only 1 post. Who? Me? Suspicious? Fox Moulder says, "Trust No One."

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#460297 - 01/09/18 03:19 PM Re: Bitcoin and Real Estate [Re: VABroker]
Long Walk Online   content
Member

Registered: 06/27/08
Posts: 206
Loc: New Hampshire
We have been talking about buying some crypto-currency, but I really can't see how it is different from buying Beany Babies. Yes, I do realize that BitCoin is becoming usable as real currency, but I just don't understand how.

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#460383 - 01/16/18 08:05 AM Re: Bitcoin and Real Estate [Re: Long Walk]
barb43 Offline
Veteran Member

Registered: 08/01/08
Posts: 1158
Loc: SW Okla
Originally Posted By: Long Walk
I really can't see how it is different from buying Beany Babies.
Oh, I love that line . . . made me spit out my coffee! laugh

I had a buyer who had sold some of his bitcoin for a great profit, and he used the cash to buy a property here in SW Oklahoma. I'm happy for him.
_________________________
Remodeling houses & helping tenants get ahead in life since 1983. Licensed Realtor since 2005.


LIMITATIONS: Until You Spread Your Wings, You'll Have No Idea How Far You Can Walk. - despair.com

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#460385 - 01/16/18 09:32 AM Re: Bitcoin and Real Estate [Re: barb43]
Long Walk Online   content
Member

Registered: 06/27/08
Posts: 206
Loc: New Hampshire
I missed the whole Beany Baby fad/craze because I couldn't understand how anybody was making money on a kid's toy. There was an article in the St. Pete Times around summer 1996 about a guy in our area who had a garage full of them and was going to use them as his retirement. A few weeks later, you couldn't give a Beany Baby away.

I also missed the .com tech stock fad/craze because I could not understand how to make money by buying shares of companies that either had no revenue at all or were simply not profitable.

There are people who made tons of money in both, I am sure. How is that kind of investing any different from betting everything on black on a roulette wheel?

So, I don't understand crypto-currency and still haven't bought any.

Any insight into how the value proposition works would be greatly appreciated.

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#460398 - 01/17/18 07:44 AM Re: Bitcoin and Real Estate [Re: Jeffrey Terrell]
Long Walk Online   content
Member

Registered: 06/27/08
Posts: 206
Loc: New Hampshire
So, our new friend Jeffrey hasn't come back to share any more of his dark knowledge of crypto-currencies.

But, I saw this article this article this morning about the very sudden, very unexpected fall in crypto's.

Full disclosure: I have no idea how this stuff works at all and all of this could be completely normal.

If the latest crash was caused by the governments of China and South Korea clamping down, then I would say that the end of these 'currencies' is in the very near future. Also, if retailers jumped in out of fear of being left behind, rather than jumping in as an expression of sound business principles, then the fad can only end in failure.

Since I don't know anything about the subject, the opinion above is worth exactly what you paid for it. smile

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#460399 - 01/17/18 08:57 AM Re: Bitcoin and Real Estate [Re: Jeffrey Terrell]
Long Walk Online   content
Member

Registered: 06/27/08
Posts: 206
Loc: New Hampshire
I just checked the BitCoin price on CoinBase and the value has dropped about $1K/coin since my last post. Crazy.

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#460401 - 01/17/18 11:03 AM Re: Bitcoin and Real Estate [Re: Long Walk]
Long Walk Online   content
Member

Registered: 06/27/08
Posts: 206
Loc: New Hampshire
And 3 hours later, BitCoin has re-gained all of its lost value back to $10,500. What an odd thing to invest in. I just don't get it.

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#460402 - 01/17/18 11:18 AM Re: Bitcoin and Real Estate [Re: Jeffrey Terrell]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7774
Loc: Vermont's North-East Kingdom
Just further proof of the validity (or functionality) of "The Greater Fool Theory": there must be a fool greater than me (I hope) !

But you know, someone IS the greatest fool.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#460403 - 01/17/18 12:22 PM Re: Bitcoin and Real Estate [Re: Vermont]
Long Walk Online   content
Member

Registered: 06/27/08
Posts: 206
Loc: New Hampshire
Normally, I would agree with you completely, VT. What causes me to not compare it completely to Beany Babies is that merchants have been accepting it as currency. So, I can't help but wonder if some type of crypto-currency will some day in the near future be adopted as a currency for the world to use as a replacement for the USD.

How to speculate in that proposition with anything like confidence is totally beyond me.

Incidentally, the latest BitCoin price has it heading back down to $9500 again.

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#460405 - 01/17/18 12:34 PM Re: Bitcoin and Real Estate [Re: Jeffrey Terrell]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7774
Loc: Vermont's North-East Kingdom
Please don't involve me in any discussion about Beany Babies . . . . I'm only saying that people are CONFIDENT that somewhere, someone is a greater fool than are they. Ego blurs the image in the mirror.

It's akin to Musical Chairs, people will continue to play the game, CONFIDENT that there will always be a chair left for them when the Music stops . . . . but, at least with Musical Chairs, it's understood that the Music WILL STOP !

Meanwhile, wasn't new registrant Jeffery Terrell's usage of all those embedded URLs in his one and only Post reported to the Moderators earlier in the month ?
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#460406 - 01/17/18 12:54 PM Re: Bitcoin and Real Estate [Re: Vermont]
Long Walk Online   content
Member

Registered: 06/27/08
Posts: 206
Loc: New Hampshire
I never like to just hammer people with the threat of report to a moderator. I gave a polite suggestion, but he declined to edit. Perhaps he is busy counselling friends and clients on crypt-currency and can't make the time to come back.

My guess on crypto-currency is that national governments will have the last word on whether it will be a currency. For the moment, my best analogy for the merchants is that they are treating it like PayPal: denominate the transaction in USD and then conduct the transaction through the sale and purchase of BitCoin(or some other currency). So, it becomes less a currency, and more of a medium of exchange of USD. Otherwise, how could anyone price a transaction in BitCoin given its volatility?

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#460413 - 01/17/18 06:45 PM Re: Bitcoin and Real Estate [Re: Jeffrey Terrell]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7774
Loc: Vermont's North-East Kingdom
Rules . . . . just like Laws and other Regulations should just be called "Suggestions" if they aren't going to be enforced.

That would please many Folk who have a higher regard for human behavior than do I.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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