Bitcoin

[WoodDuck]

Gov backed Fannie Mae to accept btc and ucdc as down payment for homes.

No margin calls. Mortgage terms hold even if btc loses value.

I need to do more research, but this may be a way to avoid tax from gains. At least that’s how I’m reading it.


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For those interested, the key here is that BTC will be accepted as collateral for a down payment. In other words, you don’t have to sell BTC to buy a house, and you get your BTC back when the loan is payed off. You don’t pay taxes on capital gains and you also benefit from asset appreciation (hopefully).

 

[ElkFantastic]

Bitcoin is here to stay. I am going to continue buying bitcoin especially while it is still on sale.

 

[MountainTracker]

For those interested, the key here is that BTC will be accepted as collateral for a down payment. In other words, you don’t have to sell BTC to buy a house, and you get your BTC back when the loan is payed off. You don’t pay taxes on capital gains and you also benefit from asset appreciation (hopefully).

Yep, I know a guy considering this option. Don’t see this offered to gold.?


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[ozyclint]

For those interested, the key here is that BTC will be accepted as collateral for a down payment. In other words, you don’t have to sell BTC to buy a house, and you get your BTC back when the loan is payed off. You don’t pay taxes on capital gains and you also benefit from asset appreciation (hopefully).

Sounds too good to be true.

 

[MountainTracker]

Sounds too good to be true.

Fannie Mae accepts first crypto-backed mortgage product

Better Home and Finance is partnering with Coinbase on a crypto-backed mortgage that conforms to Fannie Mae guidelines.

www.cnbc.com

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[WoodDuck]

Sounds too good to be true.

There’s a reason Saylor keeps referring to BTC as pristine collateral. It is easily transferable, and if you default on a loan the bank is left with an extremely portable, extremely liquid asset.

 

[Poser]

Charles Schwab just announced they will begin to offer Ethereum spot trading on their exchange.

 

[fmyth]

Charles Schwab just announced they will begin to offer Ethereum spot trading on their exchange.

It looks like they will offer direct trading of BTC and Etherium to start.

 

[RockAndSage]

It looks like they will offer direct trading of BTC and Etherium to start.

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This is just the absolute beginning of institutional money flowing into these assets. It's going to be explosive once we get out of the bottom of this cycle.

 

[dieselchessy]

How is this different than Fidelity crypto accounts?

 

[RockAndSage]

How is this different than Fidelity crypto accounts?

Depends on the exact crypto products - there are some that are a basket of crypto currencies, and there are others that are a basket of crypto and crypto-related firms, like mining companies, and the companies that build the infrastructure to those companies, similar to data centers.

 

[eddielasvegas]

Thanks for your post @fmyth.

CS offering BTC just might get me to buy a coin if the price continues its drop.

Not sure what the magic number is but I'll be patient and watch it.

Maybe put a buy order in significantly below market price as crypto is known for its flash crash tendencies at times.


Eddie

 

[fmyth]

How is this different than Fidelity crypto accounts?

Charles Schwab is the first US Bank to offer crypto trading. They have 38.7 million active brokerage accounts and approximately 2.2 million banking accounts. Total client assets under management exceed $12.15 trillion, with the firm serving over 16,000 Registered Investment Advisors (RIAs).

 

[Ecampbell25]

Anyone have any thoughts on XRP?

 

[2531usmc]

Anyone have any thoughts on XRP?

Just out of curiosity, what would interest you in XRP? Just looking for a quick uptick?

 

[Beaveralum]

Just out of curiosity, what would interest you in XRP? Just looking for a quick uptick?

In the simplest of an explanation I can give, XRP is a bridge currency to facilitate fast financial transactions very inexpensively. So if banks/financial institutions adopt crypto worldwide, I would expect the value to increase. Do I think it will “go to the moon”, no but I would be happy with it moving into the $3-5 range.

 

[Poser]

Anyone have any thoughts on XRP?

I have an amount. Still lots of optimism out there for all kinds of scenarios. It’s cheap enough to do a little informed gambling with IMO.

 

[2531usmc]

In the simplest of an explanation I can give, XRP is a bridge currency to facilitate fast financial transactions very inexpensively. So if banks/financial institutions adopt crypto worldwide, I would expect the value to increase. Do I think it will “go to the moon”, no but I would be happy with it moving into the $3-5 range.

Thank you for the response! Makes sense!

 

[Beaveralum]

Thank you for the response! Makes sense!

No problem. I’m by no means an expert, but like to pay attention to the crypto world because it’s not going away at this point.

 

[RockAndSage]

Anyone have any thoughts on XRP?

To add to what @Beaveralum shared, XRP and a couple of other systems are essentially going to replace what are antiquated payment systems, globally. It's happening so fast, and with such momentum, yet it's shocking just how little news coverage it's getting outside of crypto geeks. XRP and a couple of other systems are within a couple of years of completely restructuring the US and global financial system - it's that profound. Multiple orders of magnitude bigger in impact than Nixon taking us off the gold standard, the Bretton Woods system that was worked out after WWII, or the establishment of the Fed in 1913. It's an absolutely tectonic shift, and it's happening in almost a blink of an eye - with virtually zero mainstream coverage.

To give just one example of what they're doing, when you need to send money overseas it has to go through the SWIFT system - it's essentially both a highly-secure messaging system, and a network of banks and institutions. All working on bankers hours, in different time zones, few of which culturally operate with urgency. To get a payment posted from the US to, say, Saudi Arabia, it could easily require 3-5 days for the SWIFT system. In a way, monetary flows today are very similar to how information flowed before the internet - it's archaic and slow. XRP (the monetary unit) and it's parent company, Ripple, do that same transaction in seconds - they make money flow at the speed of the internet, both on the front end and the back end.

It's so incredibly hard to overstate the importance of this - not so much for rando individuals, but for institutions. That kind of instant responsiveness can take a trade and make it up to 30% more efficient/less expensive, from a number of different angles. When we're talking billion-dollar moves for things like real estate or commodities, that's tens of millions of dollars in profit over using SWIFT's network of banks and middlemen.

That's just one example, and there are dozens of angles to all of this. If you think of Bitcoin as digital gold, think of how cumbersome it is to move gold to make purchases (not knocking bitcoin). Bitcoin is to gold, what XRP is to an internet purchase with a credit card.

Now imagine all those global transactions, done on a fixed amount of digital currency. No more will ever be made, but the rate of its usage is expanding almost exponentially. The more it's used, the more valuable each XRP token becomes.

Institutions are the absolute tip of the iceberg with all of this.