Quote from: lumeire on October 29, 2015, 10:12:12 AM

Quote from: doublemore on October 29, 2015, 09:54:06 AM

Quote from: Denker on October 29, 2015, 09:45:04 AM

Quote from: doublemore on October 29, 2015, 09:04:54 AM

If Bitcoin goes up very high should i buy a house?

Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage. Is that even a good idea though? - basically 80% of networth in a house hmmm. On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.

Man when Bitcoin reaches these high value I swear you need to convert into fiat. You will be able to buy a house with Bitcoin!The seller will accept Bitcoin! Wink

Yeah i know but maybe not on this next bull run. Lets say we hit $3k- $4k in the next few months which could happen i doubt everyone well accept bitcoins for houses. Some people will sure.

That's too much of a bull run even if we have the halving next year. Everyone would have sold before that comes that the price would come crashing back to where we are now.

@ontopic, why a house? A much better option would be something income generating - like a franchise.

House doesn't take management like a franchise, i can invest a little more into my own business but not much.

Buying a house outright with no mortgage saves me $1k rent a month also.

Quote from: n2004al on October 29, 2015, 10:21:57 AM

Quote from: doublemore on October 29, 2015, 09:04:54 AM

If Bitcoin goes up very high should i buy a house?

Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage. Is that even a good idea though? - basically 80% of networth in a house hmmm. On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.

You must define what do you mean with "very high figures".

But a priory my answer it will be following. Depends firstly from the number of bitcoins you have and the need for house you have. And from the market of the houses where you live. I will buy a house with bitcoin only if I would have minimum the double of bitcoins which I will spend to buy the house (not true in your case), if I will be in high need for a house and probably if the market of houses in my country will be a good one - which mean that the value of my house will be greater in the future (with big probabilities because no one known how it will be the prices of this kind of products in the future). Otherwise will try to buy it with normal money (with credit in your case).

You will have always the bitcoins as a warranty if you will take a credit. So why use bitcoin which can have much higher price in the future?

If you believe that the above "high figures" mentioned by you will be the upper limit of the price of bitcoin no one of my abovereasoning have meaning for you. But I think that the max price of bitcoin needed to much time to be reached. Not so early. In those suppositions are based all my above thoughts.

Anyhow these are only guessings. Everyone know himself what is best and is worst for him. So the right decision can be taken only by you.

Very high figures would = $3-$5k before end of 2016. In 2020 i think we could easy be 5 figures.

Quote from: 1Referee on October 29, 2015, 10:10:46 AM

It all depends on you. If you need a house and the real estate market in your area isn't already pumped to the sky, then why not? You can also choose to buy just started companies if you think they have a very high potential of succeeding.

Where i live in UK the market is pumped to the sky. Sad

but how much could it really crash, down by half at best? not like a bitcoin crash, the land will always be worth something even if the bricks aren't.