All Forum Posts by: Dustin Mathenia

How I imagine bitcoin going forward is eventually  there could be a bitcoin atm at every major airport and Wal-Mart people can take there money and send it across the world for a much smaller fee . And for traveling from country to country can easily switch from each currency and soon smaller countries will start ccepting it in their stores hotels car rentals etc. And it will just grow from there. The way I look at it is if somehow it does become some world wide number 1 currency no matter how unlikely I'd love to gamble 15k to have 1/21millionth of the world's currency but like I said I'm a gambler .

@matt R. Can you put in cash and get bitcoin ?

@Mary L. I think bitcoin will crash before the housing market. It's not really comparable since the housing market would take months to crash and bitcoin could crash in a few hours....

And for everyone of these anti bitcoin guys saying it's tulips or emus or a ponzi scheme and "if you buy bitcoin you will lose your money" I say maybe if you sell when it's lower but these same people were saying the same thing when it hit 300$ and 600$ and 1200$ and then when it dropped to 170$ in 2014 plenty of peope saying I told you so I told so but if you bought in and held on still seems like it would have worked out ... now that said full disclosure I own no bitcoin and do believe it will crash just don't think it will disappear or ever be worth less than 2000$ a coin and if you'e reading this in the future pm or tag me to show how wrong I was lol.. But betting on the us dollar which everyone knows loses its value every year or putting my money in stocks that are propped up by the "quanitive easing" i dont think so you cant print money non stop and expect it to hold it's value the value in usd is just a beliefe and beliefs change.

My prediction is this : bitcoin will bounce around for a while maybe top 20 but I doubt it 17k might have been the peak then it' going to drop hard and fast down to 5-7k where it will stay for a while and if it comes back it will soar past 40 50k. (ALL SPECULATION) ... One day I'll tell my great grandchild "I could have bought bitcoin for 1000 and this will be his response 

1.What!! Why didn't you!! 

2.whats bitcoin?

Or 3. A 1000 what?

@Egan Lohman 

Yes it will be interesting to see whay happens with this technology it's not really new but bitcoin has opened the eyes of everyone be interesting to see how real estate incorporates it 

@tom canant 

I think you're right that the government will never allow a universal currency but the idea of it is cool to think about and I think 80% of it is propped up by investors buying just because they think it will go up in value and I know it will crash but when and why I don't know and it's crashed plenty of times before and it keeps coming back ! Also I heard you can bet against it now but I'm not sure how to do it 

@avigdor Kahan

A million is a lot to the at a market that makes 20% + swings daily and I guess it would depend on how much money I had I do plan on throwing some money at it but a small amount 

I'm in the process of re educating myself on this stuff and what' going on now still have much more to learn and I know all about mt gox I had a little in there when it shut down but I was always paranoid about keeping my coins on the internet I always had my own wallet for each kind of coin on my desktop my friend had all his coins in a website wallet and they shut down now he has nothing wouldn' have been worth much but still don't trust any websites. 

I don't know everything about bitcoin or crypto currencies but I have been keeping an eye on it over that last few years. I was first informed about bitcoin in 2013 when it hit 1000$ a coin I did a lot of studying figured it was at its peak I even bought a different crypto currency actually a couple.  I bought one called dogecoin think I paid 43$ for a million of them still have them on my old hard drive according to eBay prices worth about 87$ for 10k coins. I think of these other coins as penny stocks and as I am a gambler I bought them as a gamble and if I sold today would be what.....a 2000% return not bad lol when bitcoin hit 2k this year I started watching again. I even told my friend in September that it would hit 12k if it followed the same path it's been on and then it hit 12k 14k 15k and went from 15k to 17k today idk what's going on if you guys do let me know still not sure I would buy it but I do believe it could go to any price 100k? a million? idk maybe but it can't climb this fast without crashing again before getting there. What are your thoughts ?

I am a complete newbie especially compared to the few people who have posted on this thread so far. But I'm going to post anyway because I'm looking for some insight into my though process of looking forward to getting started in 2018 and beyond . In 2017 I finished my first flip should be making 30k property is in escrow right now . Also I finished my personal residence a live in flip if you will if I sold this summer I would expect to make 100k if the market in California stays strong. So here is my plans right now as soon as I get my 30k I'm going to move from California to Arlington Texas where I have a good friend who also has 20k or so and we are going to try and do some direct mail to find a house to flip obviously we will look at other deals too contacted a few wholesellers in the area and he has a realestate agent as well. Flipping houses is not what i want to do I realise it is not investing and is just another job I want to get a rental or 2 or 3 as many as I can but if I can flip 2 houses and get 1 rental in 2018 I'd say that would be a good start . I've heard that Amazon hq2 could be built in DFW bringing 5 billion$ and 50k jobs with it if the announce that what is going to happen my plans will change to buy as much property as close as possible to that and hold it forever but that's a lot of ifs. 

MY question is this if I'm going to buy my rentals in Texas and flip houses in Texas should I just sell my house in California and jump in 100% or should I see how my flips go and decide then? I would love to pull some money out on a helock or just pull a second but since I'm not working at my w2 job it seems to be impossible any input is welcome :)

@martin Ruiz

I didn't want to use an agent becase it would be 9k$ out of my pocket and I'm splitting the profit on it 4 ways so not much left I would always use an agent buying but selling didn' seem that complicated got a buy sell contract and some disclosure papers and I'm sure I got lucky finding a legit buyer on my first showing and the title people handled most of it they also didn't have an agent besides putting the house on the mls and and handing contracts to the buyers then to the title company i don't really see what they do ... I ddefinitely will be using an agent in the future if it starts taking dozens of hours or I just don' have time but in my very limited experience it' been like 5 or 6 calls and maybe an hour of work for 4500$ in savings worth it to me