Hey guys,
I hope your all well.
There is a company in Canada that started accepting Bitcoins as rent payments. This stuff looks like its really taking off.
Does anyone have knowledge on the new Crypto currency?
How could it work in real estate? Could you potentially sell your house for Bitcoins?
Thanks for reading and I am looking forward to your replies.
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
It's happening all over already
http://www.newsday.com/business/man-willing-to-sell-southampton-home-for-bitcoins-1.6630568
http://www.foxnews.com/us/2013/12/14/vegas-developer-selling-785m-mansion-for-bitcoin/
http://singularityhub.com/2013/04/10/man-puts-house-in-the-canadian-rockies-up-for-sale-in-bitcoins/
Loads more stories on this if people care to google around…
Bitcoin could be the next major world currency, or it could be a failed experiment, or something in between. Lots of spirited debate on that point
Here's a Bitcoin fund that took in 65Million in funding in 2 months – http://www.reuters.com/article/2013/12/11/us-etf-bitcoin-secondmarket-idUSBRE9BA15520131211
For people who have no idea what the hell Bitcoin is, here's a good infographic to get you started – http://www.visualcapitalist.com/wp-content/uploads/2013/12/the-definitive-history-of-bitcoin-infographic.jpg
I actually attempted to mine bitcoins about 2 years ago and was pretty unsuccessful. Had I known what I know now I would have tried much harder…
I look at Bitcoin like it's the latest "hot stock".
The fact that it has hit the mainstream potentially means that the rich people have already made their money in it.
Bit coin is a very interested currency and hard to predict what global demand for it will be unless you know a lot about it.
Truthfully, if you want to learn about Bitcoin in detail and become a savvy bitcoin investor then I think it makes sense to sell your property for Bitcoins. But if you don't understand the currency then I think it would be better to sell for cash and focus on making money the way you know how.
There are so many 'get rich quick' stories at the moment about people who's bit coins are worth millions. If it sounds too good to be true it probably is.
Ryan McLean | On Property
http://onproperty.com.au
Email MeBen Gray wrote:It's happening all over alreadyhttp://www.newsday.com/business/man-willing-to-sell-southampton-home-for-bitcoins-1.6630568
http://www.foxnews.com/us/2013/12/14/vegas-developer-selling-785m-mansion-for-bitcoin/
http://singularityhub.com/2013/04/10/man-puts-house-in-the-canadian-rockies-up-for-sale-in-bitcoins/
Loads more stories on this if people care to google around…
Bitcoin could be the next major world currency, or it could be a failed experiment, or something in between. Lots of spirited debate on that point
Here's a Bitcoin fund that took in 65Million in funding in 2 months – http://www.reuters.com/article/2013/12/11/us-etf-bitcoin-secondmarket-idUSBRE9BA15520131211
For people who have no idea what the hell Bitcoin is, here's a good infographic to get you started – http://www.visualcapitalist.com/wp-content/uploads/2013/12/the-definitive-history-of-bitcoin-infographic.jpg
I actually attempted to mine bitcoins about 2 years ago and was pretty unsuccessful. Had I known what I know now I would have tried much harder…
Thanks Ben,
It definitely looks like its taking off.
Non stop news on the topic. Ever newsletter I get and pretty much every where I turn I see new Bitcoin something haha
Thanks
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
engelorumora wrote:It definitely looks like its taking off.
Early days yet and it's currently taking a beating. While I wouldn't right it off the problem is in converting FIAT to BC and back again. The authorities can control that and do. While some (govts) are in favor of BC others aren't.
For me it's a speculative day trading paradigm at the moment.
Bitcoin has some stiff competition – Dogecoin
MAJOR BITCOIN UPDATE!
Yesterday Bitcoin HALVED in value due to the fact that China put major restrictions on the purchase and exchange of bit coins using Chinese currency.
It is a very speculative market. Many are calling it a bubble like the internet bubble of 1999
Also to do a transaction you are required to download the log of every single transaction ever done using bit coin. In a year or two this is expected to be 1TB!
Imaging having to download 1TB of data every time you want to send someone some money.
So be very careful!
Ryan McLean | On Property
http://onproperty.com.au
Email MeBen Gray wrote:Bitcoin has some stiff competition – Dogecoinhahaha
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
A very interesting read…
It is clear that the NSA has the digital keys to break Bitcoin any time it wants. If and when Bitcoin finally crashes, look for the NSA to be the “man behind the curtain.”
Is this like the tulip craze in 1700
jayhinrichs wrote:Is this like the tulip craze in 1700Could be haha
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
ryan mclean wrote:MAJOR BITCOIN UPDATE!Also to do a transaction you are required to download the log of every single transaction ever done using bit coin. In a year or two this is expected to be 1TB!
Imaging having to download 1TB of data every time you want to send someone some money.
So be very careful!
Ryan,
I just saw a documentary on Bitcoin on Bloomberg, You are right. You have to download every single transaction to buy or transact a bitcoin.
Excellent piece of information. I think bitcoin is not for me.
Thank you.
Hari Yellina
Email MeKeep Investing - Grow while Resting.
yellina wrote:Ryan,
I just saw a documentary on Bitcoin on Bloomberg, You are right. You have to download every single transaction to buy or transact a bitcoin.
Excellent piece of information. I think bitcoin is not for me.
Thank you.
Bitcoin is a decentralised currency. Meaning you don't have to go through a bank or organisation to use it.
Bitcoin is also designed to become harder and harder to 'mine' as new bitcoins are mined. Therefore it gets exponentially harder to access new bitcoins.
Because it is decentralised whenever you do a transaction you are required to download the ENTIRE log (called a blockchain) of every single bitcoin transaction that has ever occurred.
Bitcoin is less than 5 years old so in the beginning the size of this blockchain was never an issue. Currently it sits at over 12GB!
Can you imagine having to download a 12GB blockchain every time you do a transaction? Wait until this gets up to 1,000GB in a couple of years.
To fix this they will either have to centralise the blockchain (companies could do this for a fee) or change bitcoin completely.
Even the people behind Bitcoin say they haven't decided on a solution yet.
I would be very careful unless you are a super tech nerd and know the ins and outs of this digital currency
This wasn't an issue to begin with but now that Bitcoin has hit the main stream the log is
Ryan McLean | On Property
http://onproperty.com.au
Email MeThe transaction log won't be a problem.
http://bitcoin.stackexchange.com/questions/9045/can-the-transaction-log-history-size-scale
As for the long term value and overall viability, who can tell? Big players are hedging themselves in case the virtual currency fad/trend/thing does explode…
JPMorgan
http://business.time.com/2013/12/10/jpmorgan-may-create-a-virtual-currency-that-rivals-bitcoin/
Ebay/PayPal
Whatever the hell happens in the future, it's a really interesting space to watch…
There is constant news popping up on the topic.
Sure is interesting to watch.
Thanks
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
Hey guys,
How about this?
Would you consider accepting Bitcoins for your house if if you could get double of what the property is actually worth?
Thanks
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
You must be logged in to reply to this topic. If you don't have an account, you can register here.
