Home / Crypto Currency / Buying a Home With Bitcoin Makes Sense: Shark Tank Investor Barabara Corcoran

Buying a Home With Bitcoin Makes Sense: Shark Tank Investor Barabara Corcoran


shark tank

Advertisement

Millionaire investor and Shark Tank star Barbara Corcoran has revealed that buying a home with bitcoin is the future. Her comments come at a time when cryptocurrency’s market capitalization has been plummeting for months now coupled with gruff criticism from some quarters.

In a recent interview with Money, Corcoran intimated that buying and selling a home for cryptocurrency makes a lot of sense and ideal for real estate. “I’m being very optimistic because, as a long-term play, it’s perfectly suited for real estate transactions,” She maintained.

The Shark Tank star, who made her fortunes as a real estate agent in New York, was of the opinion that bitcoin home sales will become a common phenomenon in the coming years.

Peer-To-Peer Feature

Corcoran believes this will come about as the result of the flagship cryptocurrency’s peer-to-peer nature, which removes extra cost creating transcending privacy. “It’s peer-to-peer, with no central anything, and that’s why it’s so powerful. The main idea is to eliminate the middle guy,” she emphasized.

As a matter of fact, many people were attracted to the so-called “cryptoshere” as a result of its peer-to-peer feature that removes the third party from all transactions. Concerning privacy in a financial transaction, which many people take for granted, cryptocurrency solidifies that.

Bitcoin Will Replace Banks

shark tank

Another striking point the successful entrepreneur raised in the interview is the coming obsolescence of the banking system as a result of cryptocurrencies. She prognosticated that in a decade the banks will be gone if there is no modification in their operations.

“I really don’t expect banks to be around 10 years from now unless they change their model,” she noted. “I don’t see why it’s going to be needed if Bitcoin does what I believe it’s going to do.”

Having your bank account on your cell phone, PC and handheld devices is something many experts have maintained is a threat to the traditional financial and banking system. More so, it is considered to be a unique means of controlling your own finances.

There Are Challenges

Even though Corcoran is very sanguine about cryptocurrencies and real estate in the coming years, she thinks there are some challenges that come with it.

She illustrated the absence of insurance and assessment in a peer-to-peer transaction is distressing to many people. Additionally, cryptocurrency’s infamous volatility is also worrying.

Corcoran said:

“I could agree, this week, that that unit is worth $3 million. If by next Thursday, the bottom falls out and [the bitcoin] is worth $2 million, that $3 million agreement is useless.”

Irrespective of her enthusiasm for cryptocurrency, the waitress-turned-real estate mogul thinks crypto is not for her. This she attributed to her tendency to misplace things like credit cards and cell phone.

Yet still, the millionaire who still flies economy thinks internet of money will withstand these bottlenecks on its way and the antagonists will kick themselves for missing out. “The big guys that control the marketplaces are always the last guys to see the train coming,” she observed.

Images from Shutterstock

Follow us on Telegram or subscribe to our newsletter here.
Join CCN's crypto community for $9.99 per month, click here.
Want exclusive analysis and crypto insights from Hacked.com? Click here.
Open Positions at CCN: Full Time and Part Time Journalists Wanted.
Advertisement
Read more

Check Also

What is the COINiD Cold Storage Solution?

Cryptocurrency users all over the world are always looking for ways to keep their funds safe and secure. That is a pretty big challenge, especially when buying a hardware wallet is not an option. COINiD, a new software-based cold storage solution, may offer a viable alternative in this department moving forward. The COINiD Concept Explained For those who are unfamiliar with COINiD, it is a software solution providing cryptocurrency cold storage solutions to Android and iOS users. This wallet solution is completely open sourced first and foremost, which means anyone can review the code to determine whether or not this solution is worth exploring. How Does it Work? What most people are interested in is how the COINiD solution works and what it has to offer. It is designed to support cryptocurrencies, with support for Bitcoin available at this time. Other currencies may be added moving forward, as the site makes mention of Litecoin, Ethereum, Monero, Dash, and a few others. The functionality provided by COINiD includes full control over private keys, offline address validation, SegWit support, biometric authentication, and so forth. The biometric authentication supports fingerprint scanning on Android and FaceID scans for iOS devices. There is still more functionality waiting to be added moving forward, although the current set of features is rather compelling as well. The COINiD solution exists of two different applications to provide additional security. The COINiD Vault stores private key information in a completely offline manner and signs transactions. The COINiD Wallet is a regular wallet solution to spend and receive funds. It also communicates with COINiD Vault for transaction signing. As such, users can benefit from additional security and give one of their old Android or iOS devices a second lease on life. Is it a Viable Solution? For those cryptocurrency users who do not feel comfortable using anything other than mobile devices to keep their holdings safe, this option is worth exploring. Most people rely on hardware wallets, as they are more secure in general. However, the COINiD concept certainly has plenty of merit, assuming one has a spare device to “sacrifice” for this specific purpose. Having multiple options to store cryptocurrency is never a bad idea, though. The post What is the COINiD Cold Storage Solution? appeared first on NullTX.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.