Housing is a fundamental human right. Every person wants to fulfill his basic needs before investing. When a person has a reasonable income after fulfilling his basic needs, he invests it.
If he does not do so, he invests from the funds he has to fulfill his basic needs, then most of the time he cannot maintain his investment portfolio.
Depositing Bitcoin for a house can definitely be a sign of a good investor because he can lose the invested Bitcoins very quickly before reaching the desired goal due to his housing.
I don’t understand how you would say this,(the bolded words) in one sentence you’re contradicting yourself is it that you don’t understand what you’re saying or what ?
I don’t know about others but most of the time I find it hard understanding what you’re saying or trying to say.
And some of the terms you use!…, I don’t know if there’s anything as discretionary law or mind….. someone please inform me what it is?
If he is suggesting that there are some difficulties to invest in bitcoin when a person might also be wanting to purchase his residential real estate, so there could be difficulties doing both or even choosing bitcoin over residential property.
Of course, bitcoin has outperformed real estate in the past, and there is no reason to believe that bitcoin is not going to continue to outperform real estate, even though people will still get distracted into wanting to own real estate, and maybe jumping into property too soon rather than buying bitcoin since maybe they don't have enough money to invest in both, even though bitcoin surely does not require as much of a commitment and so bitcoin can be invested into in smaller amounts, as compared with the kinds of obligations and costs that come from owning real estate that might include financing it (perhaps even requiring a large downpayment), closing costs, taxes, insurance and maintenance costs..
On the contrary I think he was actually trying to encourage getting a personal residence before investing in bitcoin as (according to him) residential home is a basic need (which is also not wrong). But saving up funds for your real estate is not a very easy one that you can wake up and gather enough funds to raise a structure of buy a dream home. So is this not an indication that you invest in bitcoin before buying or building a residential home? A person who got employed newly could require nearly 10 years to save up an amount to give him a dream home (depending on the job and pay).
If someone targets 10 years from his employment date to have a dream home, it's wiser to invest in bitcoin over at least 2 bitcoin cycles before the 10 years plan possibly by DCA which could eventually open you up to saving enough money and making gains on such funds to assist you in acquiring your home. Residential home is a necessity and a basic human needs but it's not also what anyone can rush into or easily raise the funds enough to get one.
Of course people wrongly believe that housing/ real estate is a better investment than bitcoin, and it has not been, and it likely will continue to not be a better investment than bitcoin. It is not even a close competition.
Surely, historically people who have invested in real estate have likely tended to beat the dollar, so they tend to do way better by having money in real estate as compared to having their money in the dollar (or other fiat). There is a lot variance in real estate too largely depending on location, and perhaps some other factors that depend on the kind of real estate and maybe if it cashflows, so surely some real estate performs better than other real estate.
When anyone is building wealth frequently it takes some time to build up the capital and even to get the capital to compound upon itself, so anyone starting from zero is going to take longer to build up that capital base. There surely can be ways to use debt to build up capital as long as the capital is appreciating faster than the debt servicing, and historically folks have been able to use debt (in something like housing) to build wealth by leveraging other people's money (the use of debt). Especially young people may need to figure out ways to generate income, so that they are able to buy bitcoin, so there could be instances in which they get involved in real estate to generate income from the labor, and it might be a better way to generate income as compared with other options that they have, so people do have to weigh their own options in terms of their age, skills and abilities, so the answer is not always going to be obvious, including that there could be ways to generate income being involved in bitcoin too, but that might not always be clear how to do that in terms of what talents and/or connections a person has.
One thing is buying and another is being able to keep up to it, cause most traders and investors tend to get affected by the price alterations and fluctuations and they sell off at a rate they ought not to cause they are scared of getting a loss. So don't be a panic seller at any cost Bitcoin is the way.
For those who have been familiar with or studying Bitcoin for a long time, I don't think panic selling will lead to losses.I am still trying to understand what you mean by this, or if it's a mistake or not, but I just want you to know that Panic selling is the fastest possible way to waste all your holdings, besides why would you be even be selling in panic when you are actually holding for a long period of time?
Those guys that sold in panic when Bitcoin dropped to $90k, they will certainly be in big regret right now that Bitcoin has gone up to $118k, so selling in panic can never be an option for someone that knows the potential of Bitcoin.
Bitcoin is currently at its peak. Just a few days ago, we saw its latest all-time high. However, that doesn't mean we should stop buying.
As for this statement here, I think that you are terribly wrong, Bitcoin is nowhere near it peak price because it adoption rate is still pretty low comparing to world population, so I am quite certain that as more people adopt it, that is how it value is going to skyrocket in the nearest future, so what am trying to say is that Bitcoin is no where near it peak price because the last Bitcoin has not been mine yet and the adoption is still not yet at it peak for you to think that the price of Bitcoin is at it peak already.
Yep. There were a lot of folks who sold decent amounts of bitcoin, and perhaps even all of their bitcoin at around $100k, and maybe some of them got back in... and then perhaps again on the recent price rise a lot of folks selling too many bitcoin too soon - which is even worse for guys who are still in their bitcoin accumulation phases.