Bitcoin: Why I’m buying while it’s Crashing Down vs. when it’s Going Up.

Bitcoin: Why I'm buying while it's Crashing Down vs. when it’s Going Up.

Bitcoin: Why I’m buying while it’s Crashing Down vs. when it’s Going Up

Bitcoin Crypto Currency 

Hey gang this is Mike with MyRealEstate DOJO and everyone and their momma is running away from Bitcoin besides selected few, when I was first introduced to Bitcoin in 2016, I thought it was a scam and I didn’t think it’s going to go anywhere but there you go, I make a lot of mistakes. So let me put this disclaimer here that I’m not a financial adviser, an attorney, I’m just a refugee to America.

So going back to the story 2016 when I first was introduced to it I was about to buy a bunch of gold and I was introduced to Bitcoin and I thought you know what, this thing is a scam; now I’m a high believer of it because of one reason and one reason only, couple of reasons but one of the ones that now makes me want to put my money into it is because there’s already been established a price, what do I mean? Just a couple of months ago, like four weeks ago, three weeks ago the price was $19,000, almost $20,000 so in 2016 there was not a price that was established, I mean it was like 3 bucks went to X amount and it came back, not with the levels that I was looking for. And now, just a couple of weeks ago Bitcoin was 20,000 so there’s already been a price established, now for many of you guys that don’t know, I’m a real estate investor and in real estate investing, what I do is I buy houses multiple different ways. But one of the first way is let’s say the house is worth $100,000; I’m a cash buyer and this is for the house, I’m going to pay $60,000 cash, it doesn’t matter if it is a crash or good market like we are today, if I can buy this house for $60,000, I have made money.

 

Now of course the house may need repair and I’m going to do the whole thing and you got to pay the realtor and all that stuff but I have $40,000 of equity that I can make money to track all the other expenses like rehab and what have you. Now, the reason we kind of know this price is, is because real estate is better for a while and realtors have what’s called the MLS which kind of tracks that, but 2016, Bitcoin was very new, not that many people knew about it and there was not a track record. When this crash recently happened, 3 or 4 weeks ago, now I know that the price, not only I didn’t buy Bitcoin at that time I knew it was going to go on a crash, I was telling people about too like my friends and family it was like 16, 17, 18, it was a big bubble. But now establishment that 20,000 what most people are paying for at the exchanges because they saw it on CNN their friends told them about it, the guy on YouTube was talking about it, so they were willing to pay 20k for it and then it crashed down it was like 50% where it was like 10k, 8k. So I decided to get into this because this is the same exact margins that I do houses in where I can get houses 60 cents on below market, it’s going to be a no brainer for me and at this point I thought I was getting it at 40-60% off. One of the major difference between Bitcoin and the house is that on Bitcoin, I’m doing pure gambling, I’m doing pure speculation because even though there’s a track record of being on 20k I knew that it is a new technology and it only happened one time so I don’t have a real track record, when I’m doing houses if I’m buying is worth a hundred, I’m paying 60, I know pretty good, there’s a county tax record office, there’s the MLS so I know pretty good that the house was worth a 100k so this is not too much risk for me, on the other hand, when I invested in Bitcoin, this $20,000 was only hit one time in its lifetime, so there’s not a lot of data that’s going to back up that the Bitcoin is worth 20k versus the MLS versus the house. So what I’m saying is when I invested in Bitcoin to summarize it up is I took a lot of speculation and speculations basically to me is gambling, I never gambled before, this is my very first time to gamble and what I do is I’m an investor, for example; I like to buy in crashes, when the real estate market is crashing, everyone is telling me not to buy real estate, the news is telling me, the radio, your friends, the Uber guy, everyone says it’s horrible, the realtor says it’s horrible, that’s when I buy real estate and that where I make my money when everybody is selling, that’s when I buy. I’m trying to apply the same exact thing into Bitcoin because it was in 20k few weeks ago and now it’s 40-50% off but this speculation about the Bitcoin and I never speculated but this time I did because I believe in technology, the block chain, how it empowers everyone, the little guys says f*cks off bankers.

 

That’s why I was willing to speculate and the returns are extremely great, it can go to zero or I can go to the moon as they say. And I figured that since there already a track record where the price was 20, people seen it on TV, average person was buying it, people posting on Facebook so I figured that is what we called ARV so I say “hey it’s already a 10 grand that we’re speaking right now looked at it 3 minutes ago, I can buy it here, sure it’s a significant risk but the return is extremely high if it does hit it has a potential to hit to the moon especially businesses in beginning phase at the auction, but I want to coordinate it to real estate investors that I only buy houses at 60 cents on a dollar and I try to implement the same exact idea to Bitcoins when it crashed I’m buying them.

Here’s the funny thing guys is that most people like on my Facebook timeline, they start buying when it’s going up, so when Bitcoin was going up, they’re buying, 16,000, they were buying, 17,000 they were buying; now that it’s coming down like it’s 60% off the same guys or girls are not buying anymore, I don’t understand that. Everyone was buying when the CNN was telling them “hey this guy’s bought a Bentley or this guy became a billionaire” everyone was buying when it was going up, now all these individuals are saying it doesn’t work or they’re not believing when it’s crashing down; the same logic is what we do in houses, like if a house is worth a hundred and we get it at 60 cents on a dollar, we know we can make money out of it, we have to pay the rehab, we have to pay the whole thing, the electricity, the water etc. the realtors.

We have enough cushion in there, so real estate investing, that 100 is pretty good proven because there’s a tax roll, there’s years of data on the MLS, CMA which is a market analysis. But on Bitcoin, it’s all speculation for me because that 20,000 only hit one time it’s a new technology and it can go to zero that’s why it’s a speculation; real estate is not a speculation, when I buy a real estate, I don’t gamble because, 2 reasons why I don’t gamble, one I’m buying it in such a deep discount and I already have 40% worth of equity in the property so right off the bat when I buy a property, I’m already ahead, the other reason is I I’m willing  buy a property if I can’t get it 60 cents on a dollar via term. So if the property is worth a hundred and I can buy it for a hundred for whatever reason, the seller don’t have equity or the seller doesn’t want to sell for a deep discount, that’s not a problem because I have what’s called creative real estate financing strategies and I’m willing to buy their house for 100 but right off the bat I have a cash flow $400 a month, so see, I buy houses two ways, I’m willing to buy at a fair market value so if it’s worth a hundred, I’m willing to pay you a hundred for it but I long for a cash flow for $400 a month or more if that means I have to pay 0% interest, that’s what it is, whatever is required to make 400. So if I buy a property at full retail value, right off the bat, I’m winning because I getting positive cash flow and I’m buy and hold investor, right off the bat I’m making money and I didn’t have to go to a bank, I didn’t have to get a loan I have the seller finance it to me, so that’s one way I buy houses called term freedom financing.

The other way that I buy houses is by cash which means that $100,000 home, I’m only going to pay 60 cents on a dollar just like on the Bitcoin scenario, 3 weeks ago it was 20,000, I didn’t buy it, everybody was talking about, and everybody was buying on Facebook, my friends and my family don’t buy it, it’s a bubble, now that it crashed 50%, 40%, 55%, 60%, I’m getting into it, and I already explained to you guys when Bitcoins first came thought it was a scam in 2016 but I’ve been studying it for I would say a year and a half if not longer and watching it and really getting into it and I know that I’ve never speculated before, I never gambled, I’m an investor I only buy stuff that I know worth this much but I’m buying it here, if I can’t get it here, I’m not messing with it. I know it’s speculation but on the other hand, the return is so good for me that if it shoots up to the moon and I can put up a thousand bucks and it becomes a couple of hundred thousand dollars, that’s not a bad return because I’m going to end up putting that in Facebook marketing or post cards or whatever so it cost like advertisement, if you guys watched my previous video, I bought an EV card and now I’m saving almost 4, $5,000 a year in fuel fee so I could easily invest this money into Bitcoin and so even if I lose it all I was going to spend it in gas in my other car, my Mercedes XL so this is free money, so if I could get a return on it, it goes to the moon as you can see guys I have nothing to lose in the game and that’s how a refugee like myself comes to America and basically experientially  grows without getting into debt guys.

Everyone that was buying Bitcoin when it was going up, they got to the top, they lost their money and now it’s going down, people like myself I think it’s going to come into the market and it can go all the way down and I can lose every penny or it can go up more because it’s a new technology. I was watching the congress meeting last night, watching it live and it’s very fascinating because I thought the government will be totally against it and there are some people in that committee that say their kids own Bitcoin so they were not against it because the government kind of knows what kind of shape America is, we have stock bubbles, we got bond bubbles, interest rate is all time low, we have inflation like crazy the government is in debt, and the federal reserve and central bank are in ruling and ruining America and many other countries. Now I know that Uncle Sam is not that liberal but I thought when I was watching that committee over Bitcoin I thought they were going to say a bunch of negative stuff but they were so neutral about it and they weren’t negative about it.

I think there’s a lot of potential for it in 2016 I didn’t get into it because I thought it was a scam but now that it kind of prove itself and give me like 1 round of a CMA. I can lose it all, I can make it all, but I feel like if I lose it all, I was in a better position because I was buying it when it was coming down, the other fools, they were buying it when it’s going up to the moon and then boom! They lost all their money, I can lose my money too but at least I’m buying it when it’s going down, I don’t know if it’s the floor or if it’s going to come back up or it’s going down, I hope it goes down a little bit more so I could buy a couple more because I feel like I haven’t bought enough and once things look better hopefully it will shoot up, what I’m investing in is in lite coin, I feel like that’s going to be the future, I also have Bitcoins, also got the dash, some steam, some ethereum and if you guys are watching people talked about ripple, stay away from ripple guys, it’s kind of like bank owned bullsh*t and the whole revolution and evolution of block chain technology is to empower you and empower me and to eliminate the bankers and the gangsters out of the equation that cause the inflation and the crashes. So ripple is like for banks and if you’re thinking about getting into cyber currency, I will highly recommend doing your due diligence, don’t listen to me or Bob or Sally, and do your homework. It’s a very risky business, it’s not stable but I think that if you do your due diligence, you’re way better positioning to make investments and make it a habit for yourself just like if you’re going to UFC and you have a fight, if you train you have a better chance of winning versus if you don’t train or if you train with a better coach or you got a sh*tty coach and you do a lot of conditioning versus the guy who doesn’t do conditioning.

Can you get knocked out? Yes, if you’re in the octagon you get knocked out but there’s better chance of recovery, better chance of making the right moves if you’re in there, you’re in the trenches and you’re working on yourself on a regular basis. So don’t take my word on it never listen to CNN, NBC because whenever they’re pumping it up usually it is already too late to invest in to it guys. So when it was on CNN, NBC and all these guys are talking I was like “oh man, all these people are going to lose their money” and guess what, a couple of weeks later, people lost thousands and thousands of dollars. But now it’s on sale that’s why I’m getting into it, I already spent thousands of dollars to it, I’m hoping it would crash a little more but I don’t think it’s going to but hopefully it does, I’ll buy more and if it goes to zero, I was in the ring, I got knocked out but if goes to the moon, I can look back and tell my kid “hey dude when Bitcoin was coming out, the internet was coming out, I was in there, I was putting my money in there we’re moving for the revolution of empowering the average Joe versus the central banking system.

So to simply put it, I think right now in my opinion, I already bought a bunch of cyber currency, and it’s on sale I wish when it was in 20 that it was 7,000 or 3,000 and I guess my wish came true.

Hustle and bustle, don’t take no for an answer and see you later gang.

 

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