Topic: Future Bitcoin millionaires - will you cash out when you hit $1M? (Read 13771 times)
I don't think you can buy a nuke for $1M. Well, maybe you can, but I'm more into conventional weapons like rifles, shotguns, and pistols. That and a small private army.
April 11, 2013, 04:56:03 AM
I'm guessing, the meaning of the question is more accurate when the value of your bitcoin holdings (1, 20, 100, or 1000) is equivalent to today's USD 1 Million, in value.
What I think that means is when your 100 or 1000 bitcoins in a few years can buy what 1,000,000 US dollars today, will you cash out? And by cashing out, that means buying something else other than bitcoins that is worth $1M today.
Certainly, you will see several people buying stuff they've always wanted but never could get, like toys, cars, vehicles, homes, sports equipment, etc.
What I think that means is when your 100 or 1000 bitcoins in a few years can buy what 1,000,000 US dollars today, will you cash out? And by cashing out, that means buying something else other than bitcoins that is worth $1M today.
Certainly, you will see several people buying stuff they've always wanted but never could get, like toys, cars, vehicles, homes, sports equipment, etc.
I'm can has nukez?
Sorry, channeling my inner Dear Leader.
April 11, 2013, 04:01:39 AM
I'm guessing, the meaning of the question is more accurate when the value of your bitcoin holdings (1, 20, 100, or 1000) is equivalent to today's USD 1 Million, in value.
What I think that means is when your 100 or 1000 bitcoins in a few years can buy what 1,000,000 US dollars today, will you cash out? And by cashing out, that means buying something else other than bitcoins that is worth $1M today.
Certainly, you will see several people buying stuff they've always wanted but never could get, like toys, cars, vehicles, homes, sports equipment, etc.
What I think that means is when your 100 or 1000 bitcoins in a few years can buy what 1,000,000 US dollars today, will you cash out? And by cashing out, that means buying something else other than bitcoins that is worth $1M today.
Certainly, you will see several people buying stuff they've always wanted but never could get, like toys, cars, vehicles, homes, sports equipment, etc.
April 10, 2013, 11:50:08 PM
Bitcoin is not an asset, it is currency, so one can't 'cash out' one can choose to hold his money in differnt currencies.
I believe bitcoin is a better way to keep money then FIAT currency.
But considering the expermental state of bitcoin, one should not put all of his eggs in one busket.
I say i would keep 90% of my bitcoins no matter what
I believe bitcoin is a better way to keep money then FIAT currency.
But considering the expermental state of bitcoin, one should not put all of his eggs in one busket.
I say i would keep 90% of my bitcoins no matter what
April 10, 2013, 04:52:05 PM
Makes me smile how we are. Yes probably i feel a little bit down that i did not stayed in bitcoin world back in 2011 because i was paying more on electricity that on how much bitcoins i was making but ..... Do you guys really think that when the banksters realise what bitcoin becomes they will just stand there and wait for their demise. Like we already know that panic in 1907 thru witch they created "Federal" Reserve was a scientifically created one by JP Morgan and CO and the same for Stock Market Crash of 1929 and same the rest in the last hundred years. They can come here buy an example of 5 mil bitcoin from all you that say will not sell (because let's admit everything has a price) and they still have a printing machine at the Federal Reserve Bank and then dump all that in next day or month whenever they want to and make this market crash to pennies and buy up the rest too. It's not going to be easy. I'm thinking let's improve the bitcoin system by creating more market acceptance and more alternative crypto-curency options because this fight is not even started yet. Remember the fear off losing everything in a blink of an eye makes people go against their better judgment.
And not to be off topic, I'm already a millionaire and a billionaire = I have a wife that I love and we have a 1 year and half old son and 3 month old daughter that I can not put a price tag on, we have our health and i'm the happyest man alive. Is not this that we all want to be/have (happynes) ?!!! I quess it all depends off what makes YOU happy, but remember you might wanna think about the majority of the Lottery Winners, how they end up dead or more broke than they were before they won in just a few years.
I wish you all to find your happyness, but i don't think the love of money is (don't matter crypto or paper). Let's put our minds to improve this, just forget about the money part.
That's incredibly easy to say when you're a millionaire/billionaire. I would LOVE to not focus on the money, but the reality is, if Bitcoin gets high enough to allow me to pay off my student loan debts and mortgage, it WOULD make my wife and I quite a bit happier, and less stressed. I know that people say money can't buy happiness, and that is certainly true, but lack of money sure can buy a lot of stress, worry, and unhappiness.And not to be off topic, I'm already a millionaire and a billionaire = I have a wife that I love and we have a 1 year and half old son and 3 month old daughter that I can not put a price tag on, we have our health and i'm the happyest man alive. Is not this that we all want to be/have (happynes) ?!!! I quess it all depends off what makes YOU happy, but remember you might wanna think about the majority of the Lottery Winners, how they end up dead or more broke than they were before they won in just a few years.
I wish you all to find your happyness, but i don't think the love of money is (don't matter crypto or paper). Let's put our minds to improve this, just forget about the money part.
That said, I certainly agree that we should always be thinking about ways to improve Bitcoin and the services surrounding it!
April 10, 2013, 01:59:42 PM
Makes me smile how we are. Yes probably i feel a little bit down that i did not stayed in bitcoin world back in 2011 because i was paying more on electricity that on how much bitcoins i was making but ..... Do you guys really think that when the banksters realise what bitcoin becomes they will just stand there and wait for their demise. Like we already know that panic in 1907 thru witch they created "Federal" Reserve was a scientifically created one by JP Morgan and CO and the same for Stock Market Crash of 1929 and same the rest in the last hundred years. They can come here buy an example of 5 mil bitcoin from all you that say will not sell (because let's admit everything has a price) and they still have a printing machine at the Federal Reserve Bank and then dump all that in next day or month whenever they want to and make this market crash to pennies and buy up the rest too. It's not going to be easy. I'm thinking let's improve the bitcoin system by creating more market acceptance and more alternative crypto-curency options because this fight is not even started yet. Remember the fear off losing everything in a blink of an eye makes people go against their better judgment.
And not to be off topic, I'm already a millionaire and a billionaire = I have a wife that I love and we have a 1 year and half old son and 3 month old daughter that I can not put a price tag on, we have our health and i'm the happyest man alive. Is not this that we all want to be/have (happynes) ?!!! I quess it all depends off what makes YOU happy, but remember you might wanna think about the majority of the Lottery Winners, how they end up dead or more broke than they were before they won in just a few years.
I wish you all to find your happyness, but i don't think the love of money is (don't matter crypto or paper). Let's put our minds to improve this, just forget about the money part.
And not to be off topic, I'm already a millionaire and a billionaire = I have a wife that I love and we have a 1 year and half old son and 3 month old daughter that I can not put a price tag on, we have our health and i'm the happyest man alive. Is not this that we all want to be/have (happynes) ?!!! I quess it all depends off what makes YOU happy, but remember you might wanna think about the majority of the Lottery Winners, how they end up dead or more broke than they were before they won in just a few years.
I wish you all to find your happyness, but i don't think the love of money is (don't matter crypto or paper). Let's put our minds to improve this, just forget about the money part.
April 10, 2013, 11:21:42 AM
I'll be a millionaire when you'll be a billionaire 
.
I won't cash out for USD. I'll spend it on real goods. Like booze. One million dollars worth of it
.I won't cash out for USD. I'll spend it on real goods. Like booze. One million dollars worth of it
April 10, 2013, 11:00:12 AM
I know how people feel with regards to this but if you have a significant sum of money it would be dumb not to at least attempt to diversify some of it.
Easy come easy go, I've learned that the hard way.
Easy come easy go, I've learned that the hard way.
April 10, 2013, 10:02:21 AM
OVERNIGHT THIS HAPPENED ..............BITCOIN WENT FROM 125 TO 119. any forex traders out there?
Apparently you're not yet following this awesome thread: https://bitcointalk.org/index.php?topic=154954.0;all
April 10, 2013, 09:59:14 AM
if you go to the cia fact book and look up narrow money you will find that
bitcoin if it were the currency of a country would be ranked 125 one spot ahead of jamaica.
i would say the "experiment" is a resounding success. this just after 4 years. it will remove control of the planet from the banksters and
their toady governments. at its current rate of growth which is quite organic rather than irrational
there will be nowhere or reason to cash out to. this is a libertarians wet dream.
the citizens of the world taking control of their own money and creating it out of thin air.
the sheer genius of it leaves me in awe.
bitcoin if it were the currency of a country would be ranked 125 one spot ahead of jamaica.
i would say the "experiment" is a resounding success. this just after 4 years. it will remove control of the planet from the banksters and
their toady governments. at its current rate of growth which is quite organic rather than irrational
there will be nowhere or reason to cash out to. this is a libertarians wet dream.
the citizens of the world taking control of their own money and creating it out of thin air.
the sheer genius of it leaves me in awe.
OVERNIGHT THIS HAPPENED ..............BITCOIN WENT FROM 125 TO 119. any forex traders out there?
April 10, 2013, 07:50:31 AM
if you go to the cia fact book and look up narrow money you will find that
bitcoin if it were the currency of a country would be ranked 125 one spot ahead of jamaica.
i would say the "experiment" is a resounding success. this just after 4 years. it will remove control of the planet from the banksters and
their toady governments. at its current rate of growth which is quite organic rather than irrational
there will be nowhere or reason to cash out to. this is a libertarians wet dream.
the citizens of the world taking control of their own money and creating it out of thin air.
the sheer genius of it leaves me in awe.
bitcoin if it were the currency of a country would be ranked 125 one spot ahead of jamaica.
i would say the "experiment" is a resounding success. this just after 4 years. it will remove control of the planet from the banksters and
their toady governments. at its current rate of growth which is quite organic rather than irrational
there will be nowhere or reason to cash out to. this is a libertarians wet dream.
the citizens of the world taking control of their own money and creating it out of thin air.
the sheer genius of it leaves me in awe.
It is extemely fascinating to watch it happen in real time. BTC has the power to overwrite the system like a self propagating financial-flesh eating virus, and I think we all want that to happen. As the old world crumbles Bitcoin is here to pick up the pieces.
And it owns
April 10, 2013, 12:17:01 AM
if you go to the cia fact book and look up narrow money you will find that
bitcoin if it were the currency of a country would be ranked 125 one spot ahead of jamaica.
i would say the "experiment" is a resounding success. this just after 4 years. it will remove control of the planet from the banksters and
their toady governments. at its current rate of growth which is quite organic rather than irrational
there will be nowhere or reason to cash out to. this is a libertarians wet dream.
the citizens of the world taking control of their own money and creating it out of thin air.
the sheer genius of it leaves me in awe.
bitcoin if it were the currency of a country would be ranked 125 one spot ahead of jamaica.
i would say the "experiment" is a resounding success. this just after 4 years. it will remove control of the planet from the banksters and
their toady governments. at its current rate of growth which is quite organic rather than irrational
there will be nowhere or reason to cash out to. this is a libertarians wet dream.
the citizens of the world taking control of their own money and creating it out of thin air.
the sheer genius of it leaves me in awe.
April 09, 2013, 06:24:50 PM
I'm not sure I will ever cash out.
My notion is that I haven't really bought into BTC, so I'll ride this wave with my (few) Bitcoins as long as they're viable. If they die, I'm okay with that as I haven't invested heavily in them.
It's a hobby to me, at this point.
My notion is that I haven't really bought into BTC, so I'll ride this wave with my (few) Bitcoins as long as they're viable. If they die, I'm okay with that as I haven't invested heavily in them.
It's a hobby to me, at this point.
April 09, 2013, 06:06:31 PM
Hmm well lets think... Suppose when bitcoins hit $15 a while ago, that was your million dollars point.
Would you cashed out?
If you did/had, how would you / did you feel now that bitcoins are well over $200, maybe likely to hit $500 soon, and looking more and more certain to be way over $1000 by the end of the year (if not far sooner, like by the end of the summer...)
On the other hand, I do want to buy some good well built low power consumption ASICs...
-MarkM-
Would you cashed out?
If you did/had, how would you / did you feel now that bitcoins are well over $200, maybe likely to hit $500 soon, and looking more and more certain to be way over $1000 by the end of the year (if not far sooner, like by the end of the summer...)
On the other hand, I do want to buy some good well built low power consumption ASICs...
-MarkM-
April 09, 2013, 05:05:38 PM
A million dollars isn't what it used to be.
You said that from your experience or what?Do you have 1M$ ?
April 09, 2013, 05:03:22 PM
I was working on a BTC<->AU (gold) Market.
You send in gold or buy shares from others to create a gold balance (shares represented in grams) on the exchange, and trade like normal 1 gram to .33 BTC or whatever.
The gold idea is great! You send in gold or buy shares from others to create a gold balance (shares represented in grams) on the exchange, and trade like normal 1 gram to .33 BTC or whatever.
Bitcoins in exchange for gold and vice versa.
April 09, 2013, 04:37:44 PM
$1M should be enough to run away and hide (if that is what you want). I saw a nice property in Central America that would cost 1/10 of that.
The real question would be cash out into what, not when. Anybody got a tax-free, no-questions-asked exit strategy?
The real question would be cash out into what, not when. Anybody got a tax-free, no-questions-asked exit strategy?
Sure go to Venezuela, they won't extradite you
April 09, 2013, 04:31:08 PM
If it hit $1M then it means bitcoin is the currency of the world, and that there would be nothing to cash it out, everything would be traded in bitcoin
I don't think he means an exchange rate of $1,000,000 USD per BTC but rather if someone personal holdings were worth $1M. Like if you had $1M worth of gold would you sell the gold?
How exactly would you even determine your personal holdings? If 1 BTC isn't worth 1 million then it's hard to know how much an entire persons holdings are worth when you have alt currencies, and Bitcoin cryptostocks, and the mining.
It was an individual question. You don't know how much YOUR Bitcoins are worth? No problem send me your wallet.dat by email and I will email you when your Bitcoins are worth $1M. Problem solved.
April 09, 2013, 04:26:24 PM
If it hit $1M then it means bitcoin is the currency of the world, and that there would be nothing to cash it out, everything would be traded in bitcoin
I don't think he means an exchange rate of $1,000,000 USD per BTC but rather if someone personal holdings were worth $1M. Like if you had $1M worth of gold would you sell the gold?
How exactly would you even determine your personal holdings? If 1 BTC isn't worth 1 million then it's hard to know how much an entire persons holdings are worth when you have alt currencies, and Bitcoin cryptostocks, and the mining.
It was an individual question. You don't know how much YOUR Bitcoins are worth? No problem send me your wallet.dat by email and I will email you when your Bitcoins are worth $1M. Problem solved.
April 09, 2013, 04:03:24 PM
If it hit $1M then it means bitcoin is the currency of the world, and that there would be nothing to cash it out, everything would be traded in bitcoin
I don't think he means an exchange rate of $1,000,000 USD per BTC but rather if someone personal holdings were worth $1M. Like if you had $1M worth of gold would you sell the gold?
How exactly would you even determine your personal holdings? If 1 BTC isn't worth 1 million then it's hard to know how much an entire persons holdings are worth when you have alt currencies, and Bitcoin cryptostocks, and the mining.
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