Should I Sell my Bitcoin and Other Crypto Assets to Buy a House, or Rent and Get Interest on my Crypto Assets?

[david555]

Just now, The Cipher said:

Hmm, do you think this is a good time to pick up a nice condo in downtown Bangkok? A lot of those buildings seem to have plenty of unsold units, so I do wonder...

he was talking about a house ..... a house AND land .... not about shoeboxes condos stored on top of each other 

[Percy P]

48 minutes ago, Neeranam said:

Not quite as simple as that. 

 

Sell BTC at $100k now and buy a house OR rent a house with BTC interest and sell same BTC in 4 years for $500k. 

Doubt whether the house will increase 4 times in value over 4years

[Neeranam]

25 minutes ago, Kalorymetr said:

Where are u staking?

 

Btw, buy with mortage and pay off with BTC interest. WIN WIN

I stake DOT, KSM, SOL on Kraken.

 

BTC, XRP, MATIC, LINK on Celcius.

 

Elrond on Elrond. 

[The Cipher]

7 minutes ago, david555 said:

he was talking about a house ..... a house AND land .... not about shoeboxes condos stored on top of each other 

Ah. I'm in the process of establishing a second home in Bangkok and I'd prefer a comfortable condo over a house, personally. It's just generally more convenient and it'll be empty 4-8 months of the year. Houses are too much work. So was wondering if there are mad deals now, but I also remember other forumers saying that those condos never get sharply discounted despite the massive inventory ????‍♂️.

Edited August 24, 2021 by The Cipher

[david555]

3 minutes ago, The Cipher said:

Ah. I'm building out a second home in Bangkok and I'd prefer a comfortable condo over a house, personally. It's just generally more convenient and it'll be empty 4-8 months of the year. Houses are too much work. So was wondering if there are mad deals now, but I also remember other forumers saying that those condos never get sharply discounted despite the massive inventory ????‍♂️.

I am not starting a house or condo poll....????

.,just replying why that poster was in deep temptation to think of buying that house and land  .... until another one did not hesitated ..... nothing to do about house or condo preferences .... each at their own with own reasons 

Edited August 24, 2021 by david555

[gk10012001]

I am not sure how staking or interest works on bitcoin stuff.  I have my doubts it is reliable.  If you had enough equity to buy what you want or need, I would take the money off the table and pat yourself on the back for investing and getting a house.

[simon43]

29 minutes ago, david555 said:

How many big hackings lately..... or do you not read news ....? Even one owner died and no recovering possible...

Er, those coins have all been hacked from crypto-exchanges, not cold (offline) wallets.  How can you hack a cold wallet??!

[Neeranam]

16 minutes ago, Percy P said:

Doubt whether the house will increase 4 times in value over 4years

No,it won't. The land the house is on will increase more than the actual house though. 

[david555]

2 minutes ago, simon43 said:

Er, those coins have all been hacked from crypto-exchanges, not cold (offline) wallets.  How can you hack a cold wallet??!

i am not a Coin fan , so clueless about cold wallets ???? (unless the gold variety ????..), but so... they get hacked and in the millions range  .... so some loose ..... not you ....yet ????

Edited August 24, 2021 by david555

[Neeranam]

Just now, david555 said:

i am not a Coin fan (unless the gold variety ????, but so... they get hacked and in the millions range  .... so some loose ..... not you ....yet ????

Banks get robbed too or go bankrupt. No cover over 1 million baht now in Thailand

[david555]

4 minutes ago, Neeranam said:

Banks get robbed too or go bankrupt. No cover over 1 million baht now in Thailand

I know , moving out Th. in 2022 transferring baht out , my country 100 000 € deposit guarantee each bank , only € rising from 36 baht to38.91€, is a bad rate thing for me .....

Edited August 24, 2021 by david555

[Neeranam]

Just now, david555 said:

I know , moving out Th. i 2022 transferring baht out , my country 100 000 € deposit guarantee each bank , only € rising from 36 baht to €, is a bad thing for me .....

Buy crypto stable coins with it and get 10% interest pa ???? 

[david555]

Just now, Neeranam said:

Buy crypto stable coins with it and get 10% interest pa ???? 

OH NO !???? , don't make me part having your headache topic too....

????

[Sharp]

36 minutes ago, Neeranam said:

I stake DOT, KSM, SOL on Kraken.

 

BTC, XRP, MATIC, LINK on Celcius.

 

Elrond on Elrond. 

Good portfolio ????

[Sharp]

Just now, Sharp said:

Good portfolio ????

Alex is the true Robin Hood 

[Chivas]

Whilst I certainly do own limited crypto (and I do mean limited) make no mistake one of these days you guys will wake up one morning open the "wallet" and find zilch nada zero there. All gone disappeared

 

There is absolutely "no one" to complain to as I found out with Coinbase when they froze an account for 4 months on the basis of security checks.....it was only $760 originally as well invested

 

No phone support no live chat support no nothing. Coincidence or not at the end I opened another "ticket" and reported to them that I filed a complaint with the Police giving a bogus reference number (at this stage it hardly mattered any more)

 

No joke 25 minutes later security check complete and "you can access your account again"

 

Absolute farce of the highest order. You only realise that there is no complaints procedure with Crypto until its too late. Floating around in cyber space with absolutely no "asset value" behind it

 

Recipe for disaster,

[Neeranam]

21 minutes ago, Sharp said:

Good portfolio ????

Oh, I forgot ADA, staked on MELD.

 

Also,  when Flare network starts soon, i'll be using it to stake my XRP, DOGE.

 

Also, one of my biggest holdings is C3. 

 

 

 

Edited August 24, 2021 by Neeranam

[worgeordie]

2 hours ago, Neeranam said:

I, and most others, expect the BTC price(now $49k) to rise to $110-200k by the end of the year, then drop to $40k for another couple of years. I can get about 6% for staking(lending) my BTC and up to 19% for other crypto assets. 

Sell your crystal ball , you should get a good price for it,

if its as good as you think,

regards Worgeordie

[The Cipher]

18 minutes ago, Chivas said:

Absolute farce of the highest order. You only realise that there is no complaints procedure with Crypto until its too late. Floating around in cyber space with absolutely no "asset value" behind it

Don't take this the wrong way, but the fact that you wrote this says that you have no understanding of what you bought.

 

Honestly, if a person doesn't understand what a crypto token is, and what it isn't, that person is probably better avoiding the asset class. There's too much risk. This is particularly true for the (mostly) retirement-age people that tend to frequent this community.

[Neeranam]

22 minutes ago, Chivas said:

There is absolutely "no one" to complain to as I found out with Coinbase when they froze an account for 4 months on the basis of security checks.....it was only $760 originally as well invested

What did you do wrong? 

[CharlieH]

Flame post and responses removed.

[david555]

7 minutes ago, worgeordie said:

Sell your crystal ball , you should get a good price for it,

if its as good as you think,

regards Worgeordie

The guys on aseannow.com topic about " when do you see open Pattaya again as before in time ..." Would give a good price i guess..... maybe Thai Tourist department an even better one....????

[simon43]

1 hour ago, david555 said:

i am not a Coin fan , so clueless about cold wallets ???? (unless the gold variety ????..), but so... they get hacked and in the millions range  .... so some loose ..... not you ....yet ????

Ah, I understand that you're not familiar with a cold wallet ????  Instead of storing your coins in an online wallet, you store your funds offline, (literally writing down the relevant numbers on a piece of paper etc).  So it's impossible for anyone to hack your coins.  Of course, you now have the risk of losing the piece of paper....

[Will B Good]

Just now, simon43 said:

Ah, I understand that you're not familiar with a cold wallet ????  Instead of storing your coins in an online wallet, you store your funds offline, (literally writing down the relevant numbers on a piece of paper etc).  So it's impossible for anyone to hack your coins.  Of course, you now have the risk of losing the piece of paper....

Had mine on a Nano Ledger and got down to the third go on the password, sweating cobs!!!

[david555]

Just now, simon43 said:

Ah, I understand that you're not familiar with a cold wallet ????  Instead of storing your coins in an online wallet, you store your funds offline, (literally writing down the relevant numbers on a piece of paper etc).  So it's impossible for anyone to hack your coins.  Of course, you now have the risk of losing the piece of paper....

Like happened with someone who died (news Story line i saw) ..... nobody has a clue how to recover ....????

[Chivas]

40 minutes ago, The Cipher said:

Don't take this the wrong way, but the fact that you wrote this says that you have no understanding of what you bought.

 

Honestly, if a person doesn't understand what a crypto token is, and what it isn't, that person is probably better avoiding the asset class. There's too much risk. This is particularly true for the (mostly) retirement-age people that tend to frequent this community.

I'm not taking it the wrong way lol but I suggest you go back and actually read again as to what I said

 

"Whilst I certainly do own limited crypto (and I do mean limited)"

 

I dont understand fully how it works but as an round investor since I was 19 and am currently 61 I know all about risk. In short there is NO support if the proverbial hits the fan

[fdsa]

2 hours ago, simon43 said:

Well, hackers can't steal from cold (offline) wallets.

It heavily depends on the cold wallet implementation:

- classic, truly random private key gives 160 bits of entropy - extremely hard to bruteforce even by the cluster of ASICs.

- "Electrum-style" seed phrase gives 135 bits of entropy - very hard to bruteforce.

- classic, truly random seed phrase gives 128 bits of entropy - hard to bruteforce.

- a seed phrase generated by some very popular crypto wallet coded by Indian or Russian freelancer for $20 gives how much bits of entropy? Is it really random? Doesn't it include an intentional cryptography weakness allowing the wallet's author to reliably bruteforce any seed phrase in several days using a single Nvidia 3060?

Think about it :D

 

 

2 hours ago, simon43 said:

Only a fool keeps their crypto in the wallets provided by the various exchanges!

I agree here.

[fdsa]

38 minutes ago, simon43 said:

So it's impossible for anyone to hack your coins. 

... unless your "relevant numbers" are generated by a flawed algorythm and an attacker has a powerful mining rig or ASIC farm.

[SCOTT FITZGERSLD]

3 hours ago, Neeranam said:

I, and most others, expect the BTC price(now $49k) to rise to $110-200k by the end of the year, then drop to $40k for another couple of years

the bitcoin can easily fall to 10K and even zero. it is highly speculative and very volatile.

a house, on the other hand, will not change it's price so swiftly.

so your question is acctually a question of  asset  allocation.

you need to decide how many precentage of your net worth you want to keep

in risky assets, and what part in a safe asset.

for example, if you decide to keep 40% in risky asset (bitcoin) and 60% in safe asset (real estate) , than you need to adjust

each year your assets allocation .

 

 

 

[The Cipher]

12 minutes ago, Chivas said:

I'm not taking it the wrong way lol but I suggest you go back and actually read again as to what I said

 

I dont understand fully how it works but as an round investor since I was 19 and am currently 61 I know all about risk. In short there is NO support if the proverbial hits the fan

Not trying to be a dick here, but this might help a bit. So you said:

 

Quote

Absolute farce of the highest order. You only realise that there is no complaints procedure with Crypto until its too late. Floating around in cyber space with absolutely no "asset value" behind it

So regarding the first part, a lot of crypto assets are designed to trade in a decentralized way and protective regulations on the assets themselves are often light, or nonexistent. For example if you're trading or holding Bitcoin off an exchange and you get scammed or hacked, well Bitcoin is decentralized so it doesn't really have a manager that you can complain to and no regulator that is currently set up to help you. Certain regulated exchanges like Coinbase (which I'm aware that you used) are a little better. They have some insurance, but not FDIC insurance and are less regulated than traditional assets. Here's Coinbase's statement on their insurance.

 

Big exchanges like Binance and Coinbase are increasingly regulated and aren't likely to steal your assets, so the risk there is reduced. I tend to think that you specifically just had a bad customer service experience. But nevertheless, there are additional layers of risk with crypto that most traditional assets don't have. Gotta be aware.

 

The other thing I wanted to quickly touch on was the "absolutely no asset value" comment. That's not exactly true in all cases. There's a common misconception that all coins are basically interchangeable in function and only the names differ. But different tokens actually have different features. Stuff like Ethereum, Link, and AAVE all occupy different niches and are productive. This misconception is probably due to all of the coins out there that are legitimately useless garbage with no use case (pretty much all the dog coins). So it's super important to understand at least a bit about what you're buying.