Scrolled all the way back, this was my first purchase on Coinbase back in 2017, crazy what 8 years can do. I feel like most people are thinking short term gains. Hormozi told a story about a real estate strategy. Go to the Main Street of a city, then go out 30 miles and buy the land. Wait 20 years. That’s it. I believe this applies to Bitcoin, buy as much as possible, wait 20 years. That’s it.

@Ted Carr 🔥

🔥

@Dr Thomas Webb this is such an interesting topic. As a current homeowner i don’t think property makes sense due to leverage. In my experience there is a hidden cost to owing property many don’t know about beforehand as a first time homebuyer and that’s cost and time it takes to maintain. I probably spent 3 hours mowing and weeding yesterday - imagine the stress and brain bandwidth that takes up, either doing it yourself or paying $800 for a company to come out and take care of it. Plus the extra cost of the lawnmower. $400 for a new garage door spring $6,500 basement foundation fixes $400 plumbing $1000 electrical updates $5000 New AC $1000 furnace maintenance $1300 new water heater $2000 driveway maintenance $2400 new gutters $1000 HVAC cleaning 2 times Plus the time and energy to get quotes for all these services. I bought the house in Sept 2020 for $270k and those are the NEEDS to keep it a clean healthy environment for my family. Today it’s valued at about $320k in USD In terms of cosmetic upgrades there’s more: $3k carpet to hardwood conversion $2k painting & sealing for water $5k landscaping refresh (the yard was terrible when we moved in so we had it reseeded and fully landscaped) those are the big things in my real life situation… plus the mortgage and property taxes this whole time which would be similar to the monthly rent. And I can imagine most folks have some maintenance similar. Along with the mental bandwidth it consumes. Imagine how much better my business & life would be if I didn’t have this responsibility and financial burden and I was able to save all that maintenance money into BTC instead. Of course there are benefits too but looking back I’d say the drawbacks of owning a home in a bitcoin economy do exceed the benefits.

I’ll check it out, just watched this which talks about borrowing against bitcoin for living, etc.

@Ted Carr So we can technically hold bitcoin personally and in essence borrow against it tax free? vs having Bitcoin in a Roth IRA tax free and waiting until age 59 1/2 - but my understanding is you can still borrow against an IRA at any time. Thanks for putting this group together and creating space to talk about this stuff.

I can’t focus on anything else but this today lol