However, the good news is that, like the internet, one does not really have to understand all the technical details in full in order to use and apply it's benefits in one's life and/or businesses. All that a person needs to understand are the fundamental basics of how bitcoin and other legit crypto-currencies operate in order to help reach and achieve one's personal, business and/or investment objectives in one's life. That's all.
Moreover, there are arguments for and against crypto-currencies. But these arguments appear about even.
For instance, Warren Buffet doesn't seem to fall in love with crypto-currency investing and/or trading. He's been quoted in the media as saying the following:
"We'll never have a position in them."
Warren Buffet, chairman and CEO of Berkshire Hathaway, further told CNBC T.V's "Squawk Box" on Wednesday morning dated 10th January, 2018, that:
"I can say with almost certainty that they (crypto-currencies) will come to a bad ending."
Details can be gotten by clicking ->HERE!
Whereas Bitcoin Investor Marc Andreessen of Venture Capitalist firm known as Andreessen Horowitz told Fortune in no uncertain terms that Warren Buffet didn't know what he was talking about, saying:
"This is a standard trope of technology criticism by people who don't understand technology. Yes, sure, it's great technology, but it won't be useful or valuable in the way that those crazy nerds think it will be useful or valuable. I've heard it my whole life applied to every new technology. It's fake sophistication - it sounds nuanced but it's not."
Marc Andreessen continues:
“So saying what Warren is saying is like saying 'a car is great technology but it'll never actually get anyone from point A to point B,"
He continued further:
"Bitcoin is great technology BECAUSE it lets people get value from point A to point B through the public ledger; that functional use creates the value of the ledger, and a single BTC has a corresponding fractional value of the ledger.”
More details about Bitcoin Investor Marc Andreessen’s views on Bitcoin and other crypto-currencies can be gotten by clicking ->HERE!
But, What Exactly Is Bitcoin (or Crypto-currency) and How Does One Use and Apply It In His or Her Own Real Estate Investment Transactions?
Well, in simple terms, bitcoin is one of the many Crypto-Currencies i.e. (electronic or digital versions of money which others use in lieu of cash and with which others speculate on) available in the newly invented Crypto-Currency Industry. Bitcoin happens to be the pioneer and leader in the crypto-currency market and industry and is the most popular crypto- currency available in the world.
Bitcoin, according to its original inventor named Satoshi Nakamoto (which some people believe is a masked name for a group of computer programmers) was originally designed to be used as a peer to peer version of electronic or digital cash allowing for online payments to be made or sent directly from one party to another without necessarily going through a financial institution or middleman and thus reduce or completely remove unnecessary and/or unwanted transaction costs in the process that tend to have an inflationary effect on the ultimate price of something being bought or paid for. This was the main reason that led to the invention of bitcoin as a crypto-currency!
Moreover, it was also meant to be used as a store of value that could easily be transported and easily be converted into whatever fiat or paper money one desired regardless of where one decided to go in the world. In other words, it was meant to be used as a universal and decentralized currency of the world!
Other reasons included among others security of business transactions in that no other person needed to know that one person had sent such an amount of money to another person and thus avoid alerting unwanted and/or uninterested parties to the business transaction; anonymity of business transactions in that no names of parties are mentioned in the business transaction except for the transaction values; decentralization in that there would be no physical and/or geographical boundaries when it comes to using of the currency of bitcoin resulting in a single and uniform currency of the internet regardless of where a person lived in the world; no forgery in that there would be no duplicate and/or counterfeit money in the process since this currency of bitcoin will be data-driven requiring the usage of cryptography in order for one to have access to his or her digital money; as a store of value just like gold or real property is used in storing a person's hard earned fiat or paper money in that should one decide to have liquid cash, he or she simply sells it to others interested and gets back his or her paper money currency in liquid cash form which can then be used somewhere else; and lastly but not the least, limited supply of this bitcoin currency in that everyone using this currency would know that there can only be twenty-one million (21 million) bitcoins of this universal currency to be ever used in circulation in the internet cyber-space and thus completely reduce or even remove the possibility of a small and elite group of people in privileged positions such as officials in government from subtly controlling, manipulating or even printing extra amounts of the fiat currency without the general populace knowing that the supply of the said fiat currency had been increased leading to less demand and/or reduced value of the said fiat currency in question. However, with regard to the value of bitcoin, government controls and manipulation would be a thing of the past as the value of the bitcoin currency would be completely determined by supply and demand from the market forces knowing that the supply would be constant and limited to only twenty-one million units of bitcoins the world over!
But, aside from bitcoin, there are many other kindred crypto-currencies available in the world today such as Ethereum, Zcash, Litecoin, Ripple, Monero, Nexus, the Dao, Stellar Lumen, Yem (or Your Everyday Money), Tec, etc intended to solve other unique human problems in the crypto-currency market or industry. But none of these so far has come close to bitcoin in terms of popularity and likeability of usage as at the time of writing this blog post.
Therefore, the above discussed reasons plus many others not itemized here led to the invention of bitcoin and other unknown kindred crypto-currencies in the world!
However, as usual, to every good thing there is always a bad side of it. And there is no exception when it comes to bitcoin and other crypto-currencies.
Among the notable bad things about using crypto-currencies is that they can be used to finance illegal activities anonymously such as terrorist activities, money laundering, tax payment avoidance or evasion etc.
However, these bad things can be properly and effectively contained by coming up with an airtight legal framework intended to seal all the lacunae in the law that result from the usage of these newly introduced crypto-currencies. Like for instance, what the South Korea Government has done through a Senior Government Official named Jung Ki-joon who was quoted in the media as saying:
“We will respond strongly to cryptocurrency speculation and illegal acts, but we will provide support to research and development relating to blockchain technology.”
Details of this can be gotten by clicking ->HERE!
But, inspite of the bad side of using crypto-currencies, the invention of these crypto-currencies is a good thing as it has contributed to the evolution of money as we know it today. And the cold truth and fact is that crypto-currencies are here to stay whether one likes them or not. Whether governments like them or not. These currencies are here to stay for the long haul!
It's no wonder others are calling 'Bitcoin' and the other legit crypto-currencies such as 'YEM' (or Your Everyday Money) as the future of money in the world.
Therefore, these crypto-currencies will do to fiat or paper money what the internet did to snail mail in the past. And it's about time each and every one of us get to Learn about them and know how they can best be used and applied in one's life whether in real estate investing or otherwise as an internet based digital cash payment solution!
And sooner rather than later they will become the grand norm and standard operating procedure in every business transaction whether it involves buying or paying for real estate properties, school or college fees settlement, motor vehicle and other personal chattels purchases, business expense payments, monthly tax payment obligations, etc. Crypto-currencies are here to stay and it's about time to Learn the basics and Master how they can be best used and applied in one's life before it's too late.
In fact businesses and individuals who get to Learn and Master issues regarding crypto-currencies will end up having a greater busines competitive advantage over those that do not.
For instance, recently in San Fransco real estate Bay Area, United States of America, one well known real estate businessman by the name of Roh Habibi who runs a multi million dollar real estate agency business called Habibi Group and Star of the # 1 real estate television show titled "Million Dollar Listing San Francisco Television Show" which airs on Bravo TV and viewed by over 25 million viewers in about 140 countries worldwide, struck a huge real estate agency business deal which involved one of his international clients buying a single family home worthy $13 million by paying $8 million worth in bitcoins and paying the remaining balance of $5 million using liquid cash!
Here is what Roh Habibi was quoted as saying below:
"We’re at the very beginning stages of crypto-transactions in real estate here in the US. Europe and Asia are much farther along."
Further, he went on to say the following:
"Develop expertise in crvpto-transactions and you’ll access an international client base. Start learning now and have a 2-5 year window in which to truly understand its usages and functionalities in all transactions, not only in real estate.”
Therefore, this single business transaction in real estate goes to show how bitcoin and the other little known crypto-currencies will end up shaping how business transaction payments will be done now and in the near future to come. And it's already happening now as illustrated in the above San Francisco business case scenario!
However, as already alluded to in the introductory paragraph, many people do not fully understand the fundamental basics of how bitcoin and other crypto-currencies operate. They get to trade or invest in this newly invented digital or elecronic cash system blindly thereby committing the deadly beginner crypto-currency trade and/or investing mistakes such as chasing only the price of a particular crypto-currency, not using a stop loss in every trade or investment scenario, not having a concrete risk/reward ratio in each trade, trading or investing with too big amounts of money in single trades the first time, becoming cocky after just a few successful trades, not having a plan of action for the trade or investment in crypto-currencies, believing or even "feeling" that the price of a particular crypto-currency will go up without applying technical analysis, confusing investing with trading in crypto-currencies, listening to the general populace's trade secrets instead of using technical analysis, and last but not the least, trading in crypto-currencies when one is in a bad mood!
Details of these beginner crypto-currency investing or trading mistakes can be gotten by clicking ->HERE!
All these are deadly crypto-currency investing or trading mistakes that beginners commit when they first get exposed to this subject. These mistakes must be avoided at all costs to ensure that one does not lose his or her liquid hard earned money when venturing into the crypto-currency trading or investing market!
Only invest what you can afford to lose in crypto-currencies so that should the inevitable happen, you'll not have to suffer from blood pressure!!!
Otherwise, bitcoin and other legit crypto-currencies will be the future of money as we know it today. Therefore, take your time and get to Learn about them and understand how you may use and apply them in your own life for they truly are the future of money!!!
IMPORTANT NOTE: Want to Learn and Master the Fundamental Basics and Details of Bitcoin Investing or Trading as well as other legit Crypto-currencies such as 'YEM' and Get to Understand and Avoid the other remaining Deadly Beginner Mistakes people make when they first get started in this subject? Also, Want to Learn and Master how You may Secure Your Crypto-Currency Assets Properly using what is known as "Cold Storage Wallets" to Ensure maximum Security of Your Digital Assets? If Yes, then please simply Get in Touch with David Kapalu indicating your interest in this very subject and he will be more than happy to Guide You sail through the tidal waves of crypto-currency trading and/or investing!!!!!
Here is what Robert Kiyosaki has to say about Bitcoin and other Crypto-currencies when it comes to investing and/or trading via them:
"I’ve purchased Bitcoin. Like a lot of people, I’ve been studying this opportunity for the last few weeks and with the popularity of crypto-currencies the rise I felt now was a good time to get in. It’s a market that’s making a lot of money. BUT...do not invest unless you are educated."
So, until next time, go well in your own real estate investment efforts!
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I love to hear your comments. Both positive and negative ones are all welcome.
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ABOUT DAVID KAPALU
David Kapalu is a Real Estate Investment Consultant who happens to be a duly Registered Member of the Zambian Institute of Estate Agents, an Internet Marketing Specialist, Motivational Speaker, Public Speaker, Life Coach and Trainer. He is also a 2nd Year Bachelor’s Degree Law Student studying with the Zambian Open University. He is someone who understands his subject so well and knows how to reduce complex matters into simple to understand matters.
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