The road to crypto retirement and an oversold housemarket
At the moment of writing BTC is hoovering around 6200. For a lot of people this is a depressing number and they are loosing their faith in crypto. I feel totally different about this
I only just got into crypto last year in September. This was just before the December explosion ofcourse, so when I am seeing these numbers so low, they are still higher as when I was buying stuff. Don't get me wrong, I am like the smallest of smaller smaller player, but I have good faith in crypto.
I even believe that crypto will be the investment that will help me retire
Im not talking about early retirement, Im a too small player for that
But yes, I really believe blockchains are here to stay as they are getting mass adoption and more exposure to the normal public. Last year because it exploded so hard I myself wasnt seeing crypto as an actual utensil to pay stuff, because it felt more life an investment, and therefor it would be a pity to spend it. Nobody wants to be the 10.000 dollar pizza right?
But more and more applications are being made that actually seem like something that people can use.
And therefor people will get more comfortable in using it. What is so funny is that so many people say is that the do not want to be involved into something so volatile. But they are totally comfortable buying overpriced houses because that is 'normal'.
Yes I am calling the house market a dangerous place as well. If you look at the current situation on the house market in Amsterdam for instance you can see that an increase in price of 204% over the last 20 years or an increase of 40% over the last 2 years.
Indeed that is not like the 800% BTC increase but they are numbers that are also way too high. And what will you get after a steep increase?? Yes, a decent correction. We all know that.
But all those people who are being lured in by mortgage financial advisors dont
Have you ever had a morgage information meeting? They guys can sell you literally everything. Because there are so many options on mortgages and so many loopholes, and if you take a close look at a mortgage contract this is literally like reading Russian.
I consider myself not as the most stupid girl on earth, but truly understanding a mortgage contract will take you a bit more effort as that most people put in there. So I am puzzled already, how do others understand what they are actually signing.
And do they actually understand that there is also a risk of that their fancy new house will have LESS value as when they bought it? And that this means that if they want to move of sell for whatever reason means that the bank wants you to pay this difference then in cash?
I dont think so
But buying a house is still a 'great' opportunity
Thanks but no thanks. I will take my chances somewhere else. Im keeping the widest crypto vision ever and seeing chances in all kinds of stuff. Steemit is a fantastic opportunity in mining Steem without buying fancy miners, and getting some SBD to play with on the side. That is how I see it.
Yes the Steem and SBD price is low at the moment, but its in line according to the rest of the market. And still the increse of the Steemprice compared to last year is still worth it. So what is the problem actually?
Get off your ass, start writing stuff and earn your crypto right here
The only thing you have to loose is the time that you put in
Im willing to risk that, what about you?
Housing prices in Amsterdam are still very reasonable compared to other European capitals. Price correction in housing? Not happening unless a major financial crisis hits us again. But the last one didn't hit the Amsterdam housing market that hard. As long as there is regular traffic jams, plenty of jobs and lack of houses, prices will keep going up.
Well a lot of other cities apart from Amsterdam are also experiencing the buy above the asking price issue now, and that is new to me.
I hope those people realize what potentially could happen
@karinxxl, I'm interested in the same topic as you, let's spin it together. I signed on to you, I hope you'll sign up for me. Always glad to meet new people!
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The price increase in Amsterdam over the last 2 years is 40% and NOT 100% as you wrote.
For the last 20 years it is 204% price increase. That's still very high but a whole different number as the 350% you mentioned.
I based my calculations on the numbers in the graph from the Parool article you linked to. Which numbers did you use as source? And how did you calculate?
Im not really a super number person so I just looked at the graph in the article.
So it was more raw and I made assumptions (and as we know assumptions are the mother of all fuckups!)
Thank you for the correction on me, I will change it in the post!
Did you realize there are some really big difference between crypto and housing market? I would say the most essential difference is that we can't become really old without an house. And we can perfectly live or lifes without crypto currency.
So if it comes to having a roof above your head you basically have 2 choices. You can buy or rent a house.
Im not really talking about the necessity of a house that is a different story, we can all agree a roof over your head is something essential in life.
What I am talking about is the fact that if you put only a couple hunderd bucks in crypto people will say that you are gambling, whil way too often people are buying a house without being good informed on it. Those mortgage dudes can make a story perfect to sell, and the majority of the people will not have the background to check it for errors and what is what makes it dangerous.
Because I have seen a lot of people around me affected for instance by the housemarket collaps of 2009/2010 in Holland who are still paying for a house they are not owning anymore for a long time now. That is what I am saying, because the general vibe about buying a house is considered good, people are not seeing they could also potentially loose money on it!
I think you are correct about that.
People often forget that the need to repay their loan. And I see many more mistakes which I, as economist, really don't understand.
Nowadays I hear people saying that it's more expensive to buy a home then to rent one. As reason they say that they pay €100 or €200 more per month for the mortgage then for rent. But what they forget is that after 30 years a bought home is fully theirs without having any debt. And if you save €200 per month (€2,400 per year / €72,000 in 30 years) you will never save €250,000 the amount you paid for the home. Of course there is a risk that the market will drop. But even then on the long term buying is most of the time better.
The last part of your post makes me wonder how do you think about ethics in Steemit?
Do you believe everything is accepted to gain a financial win?
Totally not actually. Facts should be straight and therefor I do like it when people correct me on stuff I should have read better myself. For me it is also a reminder that I am better writing about stuff in my life than about facts ;)
Or are you not meaning that part about ethics? I think something is only reliable when it is trustworthy, and that works for all businesses, governments and also people
About ethics I mean the following. You wrote:
"The only thing you have to loose is the time that you put in"
In my case I'm good on gaming and very good with numbers. And not really a great writer. So instead of trying to earn from writing, I am 100% sure I can earn more and easier in different ways. Like using bid bots and playing even worse tricks. In general I am against those things. But other people do the same and it's for me the easiest and maybe even only way to earn a little on Steemit.
So my question is how do you feel about all kinds of stuff people do in there search to earn Steem\SBD? Do you think everything is allowed?
Oe thats a really difficult question dude!
It might also even be a question that I can not answer because I am not in the position. Meaning, I dont know what I would do if I was myself in the position of using bidbots, because I dont have the funds to it. Maybe if I was a big fish I would use them as hell, Im not sure. But speaking from the perspective of where I am in now I wouldnt like using them.
On the other hand, I delegate and get votes for that. In that way it is maybe the same thing but just with smaller numbers. And I also realize that bidbots are good from an investers point of view. In that way more players have a spot in the steemit eco-system.
I do not think that everything is allowed, but for me to say where to draw the line...thats a different story. From that way, I am glad that I am not a witness to brainstorm about what the best possible situation is. Because the fact is..I really dont know!
Whats your view on what is and should be allowed and what not?
To start with I actually don't believe Steemit is a sustainable model/concept. At this moment there is no income. Steemit does not generate any money. So how can it become more valuable?
In general I would say only things are allowed that you would also do in normal life. So there are quite some things that cross the line if you ask me.
Since I joined Steemit I asked this kind of question several times. But most of the time I don't get an answer. Or I was told not to complain that I wasn't one of the early adopters that easily earned money.
Together with the fact that almost no one really tries to solve some bad behavior, I don't have a feeling that it will get any better.
So what to do if you can't beat them?
@karinxxl more articles will be?
Whilst I am generally optimistic about the potential application of blockchain technology (and by extension it's financial gains), I do worry a little that it is being oversold as a solution for everything under the Sun, without enough due diligence about whether it is the appropriate solution. At times, it appears that reasonable critics are being drowned out, and we run the danger of only having true believers in the technology not taking heed of warnings from well-intentioned and invested critics.