Topic: If Bitcoin goes up very high should i buy a house? - page 97. (Read 133943 times)

Do you need a house? If so, sure do it. If not, don't do it. There are easier ways to keep your cash safe if you're not in need of real estate (and the time and effort it takes to maintain.)

if the house is rented to invest that makes very good. I also when the bitcoin price rises far, I will buy a house for the future

House is the best investment since the price will keep increase over time
So if will be nice decision if you can purchase house when bitcoin is raising up

If you can why not?

By that time you've saved up enough and the bitcoin woul probably be up higher than it is right now so why not?

if it does ever happen make sure you spend your btc wisely 

Are you talking about collapse of bitcoin or dollar? It doesn't matter thought, because seriously neither of these currencies won't fall anytime soon.
Probably not during our lifetime, I would rather bet on next big war outbreak that dollar fall. It is perfectly safe to invest in both of these currencies.

I don't know why you shouldn't buy a house with BTC.

I think is a good idea, but that is your choose

You really see your car as an asset? Really? I understand that it's confusing for financially illiterate people to classify their own house as a liability but a car should be pretty much an easy one to understand.

And yes for the bank, your house and your car are an asset for them because they can sell it off if you default on your loan. But for yourself your car, your phone and your house are not an asset.

If you fail to see that, you're doomed to stay poor like most other people. Go ahead, get into debt to buy another car and feel rich. But stay poor.


First observation: a 401k is a dumb place to put your money, the government knows where your money is you get taxed when you put money in and they tax you again when you get money out. When they feel like it, they tax it some more or just plainly confiscate it (like they did in Hungary). Try getting money out before retirement and you get penalised again.

Second: how much net result do you get from a 401k? Do you get 100% of the profit or are the managers of the funds keeping 80% of the profits? And those profits, are they taxed as ordinary income (sometimes as high as 35 or 50% depending on the country you live in)? I bet that inflation is rising faster than the increase you'll see over the lifetime in a 401k, thus robbing you of money.

Third: are 401k's free of risks of a market crash? Can you get an insurance to get your money back like with real estate or even a car?
          Can you go to a bank and ask for a loan to start a 401k? Why not? If it's an asset, then the bank should be happy to loan you the money? You can get a loan for something as stupid as a car...

A 401k is an investment but a stupid one that is costing you money in the end. But if it wasn't for 401k's people would not save for later anyways...

well it is your money i guess other people shouldnt tell you what to do with it and of course it also depends on how much it would go up

If you put down a 100% deposit as collateral then it's not a problem. Remember, the only reason you need the loan is to offset the taxes. Getting into debt without having a way to always be able to pay it off is a bad idea.


I live in a small semi detached house (a liability), not a villa. The rest of the houses are rental properties thus assets.

yes you should buy something good with bitcoin 

I would go for the house

Why would you need to convert to fiat? If bitcoin goes that high, people will buy and sell HOUSES for bitcoin!

Yes, buy a house if the housing market is good in your country, or invest in something else, like gold. It's fun to make profit, and its good when you make alot

depends on how much coin you have ?plus if bitocin goes that high then where is dollar standing ?
why would you invest in a collapsing currency then.

Yes this is so basic and you seem not to read the definition in the link you post yourself because you are sure you understand what an asset is:


if you own something (a house, car, iPhone, laptop) and it is not increasing your value, as in it is not paying for itself and bringing in money, then it's not an asset.

Then it's a liability. Then it's costing you a money. Then you need a job to pay for all the stuff you own. And the more stuff you own, the more you need to work to keep up with all the bills.

And that is the problem... most of us don't own any assets. We only own liabilities... we are lured into spending our hard earned money on things to keep us poor. You subsidize your liabilities be working for them like a slave.

I like the way kaselit put it:


It's true that "An asset is something that has value" but it also needs the property that it keeps it's value. If it's not putting money in your pocket then slowly it's losing all it's value. If your iPhone is worth USD 600 and it's costing you USD 50 / month to own it than after one year it has value USD 0. Is it still an asset? It can get even to negative value after 1 year. Is it still an asset?

Painfull as it is, most of us never owned an asset and probably never will. Unless you understand fundamentally what an asset is.

Children never get a true financial education at school and they are prepped as consumers to spend spend

jaysabi, be honest, do you own anything that generated money? Anything that pays a dividend while you are away on holidays, when you are not around?

Most of the things we own are costing us money and that money goes to other people and companies. For them it's an asset on their books. For us it's a liability

Take 3 minutes and read

http://www.richdad.com/Resources/Rich-Dad-Financial-Education-Blog/april-2013/rich-dad-scam-6-your-house-is-an-asset.aspx

if ur renting rn, i highely suggest buying a house if you can afford. you're losing a lot more money by paying rent monthly compared to the profit u gain by bitcoin prices going up.

Dumping 90% of all your bitcoin holdings can be quite risky. BTC is going at $350-360 right now. But once the bloc reward halving occurs, there is a chance that the exchange rate can climb to $1,000 or above. So IMO, it will be better to convert 50% of your coins to fiat right now, and hold the remainder for the long term.

yes you should buy it. bitcoin was a future technology if shared continusly,and people will glad if thy can bought something new with new payment or new currency,lets spread bitcoin. and by the way,i also build my small house on my town,and some of stuff bought with cash from bitcoin,i will tell my story to my child sometime,and i think on that day,bitcoin more popular,or may be has gone..but i still hope that bitcoin will accepted everywhere,and legall everywhere