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Jake Woodhouse 8mo ago

It's very clear that Real Estate is crashing vs Bitcoin

BUT

There is still a need for shelter

So how do you optimise?

All I can see are trade-offs, which is always the case, and I can't seem to justify selling Bitcoin

But I am about to make the 9th move since selling our primary place of residence in 2022

It's exhausting

You can't live in a Bitcoin never been more true to me!

Do you sell Bitcoin?

Do you try to get as much fiat debt as possible?

Do you take debt against your Bitcoin?

The conversation will continue...

I've loved the idea of a Bitcoin-backed-mortgage, without liquidation risk, that I have seen CJ Konstantinos talking about, but the product isn't live yet, and who knows when it will be (especially for the Australian market)

The removal of SAB 121 in the US should mean that there is a big shift from Banks to custody of Bitcoin, and then debt products, but that will certainly come with counter-party risk

We're so early!

If I wait 5 years for this all to develop, before I know it, my kids will be grown up and out of home, and I will have missed some key years just being with them

Something's gotta give

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Discussion

DeathOnTheStairs 8mo ago

Is it a must for you to stay in Australia?

You could always relocate to a jurisdiction where living costs are not so expensive & home school the kids? This would enable you to keep more of your stack before making such a large purchase & unwanted selling of corn just to own a home.

Mephi 8mo ago

Yep, came here to say this more or less.

Jake Woodhouse 8mo ago

For now, yes, this is where we want to live.

I’ve travelled to 100 plus countries, seen a lot of the world, and right now this is where we want to live

Yes there are hard parts, ie real estate ponzi

But all in, we love it here

(Yes, we need 3rd passports, if they ever trh the crazy lockdown stuff again)

DeathOnTheStairs 8mo ago

Fair enough, the lifestyle is great there, out of all the Western nations if I had a desire to stay in any I’d probably choose a red state in US, or Aussie. However, in saying that I believe all of the Western nations are going to start making it even more difficult for citizens to relocate. Might not be a bad thing to have some alternative Plan B option setup just in case.

In regards to the RE market I think if you can hold out for a few years and keep a good stack I reckon you’ll probably get the pick of the litter if/when things fall apart… all those Normies reeled into unaffordable 30yr mortgages may be forced into capitulation due to further increases of rates.

Jake Woodhouse 8mo ago

Trade offs everywhere! Thanks for sharing

And yes totally agree that “liberty” is going to be tested again, digital ID, compulsory jabs, taxing unrealised gains, I’ve counted none of it out

I think the key is buoyancy

As long as you make decisions that mean you can just get up and go, should you need to, then I think that’s what gives me peace of mind

Mephi 8mo ago

Get the fuck out of Australia.

We did about a decade ago, and if it wasn't for family we would never go back.

(I have lost faith in the entire western world tho, so your mileage may vary...)

Jake Woodhouse 8mo ago

This is always an option. Where did you go? If you don’t mind sharing

I like the idea of a reduced tax bill in a bitcoin friendly jurisdiction

₿omboriver 8mo ago

that is my plan, to leave the western world... i was thinking #Mauritius 🤔

Christo 🧡⚡️ 8mo ago

Yep, this is the reality unfortunately in Australia. You can call Aussie property a ponzi all you want (which I do) and hate on it all you want (which I do), but at the end of the day you need somewhere to live and to raise your kids. If you’re not prepared to pay the insane prices, there will be someone else who will. I can’t think of a way around it. Some family members have recently purchased a dual occupancy property on land which is a bit of a hack as it’s cheaper than buying individually, but that has its own compromises… caravan on the road 🤣?

Jake Woodhouse 8mo ago

Ponzi. Yes. Hate on it. Yes

But, as you say, as entrepreneurs we have to play the game that we see in front of us…

Expensive real estate. Yes. Many other nice sides to life in Australia? Yes. Great food. Safe. English speaking. Emergency hospitals. Sunshine. Beaches.

As always

Trade offs

Ongoing convo!

Hynek 8mo ago

Product is live. See for example https://firefish.io/

Jake Woodhouse 8mo ago

Been asked to interview these guys. Need to get onto it

I wonder the counter party risk?

Hynek 8mo ago

You lock your bitcoin. Based on that receive the fiat. Once you pay back your bitcoin will be unlocked. If you don’t pay back you can lost your locked bitcoin. It’s 2/3 multisig between you, counterparty and firefish (mediator).

If the price of bitcoin dumps you are prompted to increase collateral. In the worst case you will keep your fiat and counterparty gets your bitcoin with nice exchange rate 🥲

Jake Woodhouse 8mo ago

Yeah so there is a liquidation risk, ie Bitcoin price swings downside, and then you can get a margin call

This is a big risk

Will dig into details

jakubkoci 8mo ago

There is a risk that mediator and counterparty makes a deal and liquidates my bitcoin, right? Even without dumping… Or is there any protection against that?

Hynek 8mo ago

I’m not sure, but I think you are right

₿omboriver 8mo ago

Celsius 2.0 ?

Hynek 8mo ago

There are no tokens involved

d146df9f... 8mo ago

Nice. What the wealthy do with their stock portfolios.

Achilles 8mo ago

Im selling my house to buy more corn 🌽

Jake Woodhouse 8mo ago

Best financial decision I’ve ever made no doubt. But the humanistic capital in a house, ie a “home”, is very hard to replace when you have to move house every 12 months. For 3 years one of the main drains on my wife and Is time has been figuring out where to live. Trade offs. Always

Achilles 8mo ago

Love it Jake. As with everything in life, things come with trade-offs. In my humble opinion in order to save a roof over my families head for the future I think it’s the right thing to actually sell the house to get more corn. Cause real estate is literally crashing against 🌽🧡. Happy Easter my friend 🤙🏼💜🗽

Jake Woodhouse 8mo ago

Happy Easter sir! 🙏🏻