If Bitcoin moved above $10,000 USD per coin what would you do? - page 8.

Johnny00

hero member

Activity: 896

Merit: 553

Quote from: QuestionAuthority on August 17, 2016, 08:15:25 AM

I'd contact one of the business idiots that routinely buy bulk Bitcoin at the US auctions. I'd sell every coin I have to them for cash. I'd hire a tax attorney to figure out my best option for paying capital gains tax to keep as much of the profit as I can. I'd use the money to buy real estate in San Francisco.

Then I'd sit around and wait for MtGox v.2 announcement price crash telling everyone about the exchange that artificially pumped the price through the roof.

What do you mean buy bulk at US auctions?

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

I'd contact one of the business idiots that routinely buy bulk Bitcoin at the US auctions. I'd sell every coin I have to them for cash. I'd hire a tax attorney to figure out my best option for paying capital gains tax to keep as much of the profit as I can. I'd use the money to buy real estate in San Francisco.

Then I'd sit around and wait for MtGox v.2 announcement price crash telling everyone about the exchange that artificially pumped the price through the roof.

LFC_Bitcoin

legendary

Activity: 3556

Merit: 9709

#1 VIP Crypto Casino

$10,000 per coin, I'd sell about 75% of my stash. I wouldn't care if it rocketed a year or two later, at $10,000 per coin I wouldn't be able to risk cashing in.

I'd still have 25% left for a future moon trip.

lister storm

hero member

Activity: 770

Merit: 500

Quote from: jhenfelipe on August 17, 2016, 05:16:51 AM

I can't say that it won't happen because nothing is impossible. Who knows, right? It may be just a matter of time. What I'm hoping is that, if ever it happens, I am still alive and I still have bitcoin in my wallet. If so, I would love to spend 3/4 of it with my family/friends and for our future. The rest will be left on my wallet for bitcoin transactions/savings.

of course anything is possible with the bitcoin price, in my opinion its price is going to jump a lot in the near future, i hope bitcoin will reach huge numbers

110110101

legendary

Activity: 1382

Merit: 1002

Quote

f Bitcoin moved above $10,000 USD per coin what would you do?

Sell off some BTC only to see the price jump to $20,000 USD Tongue

BitHodler

legendary

Activity: 1526

Merit: 1179

It depends on the economy and the reason for the price to be at such levels.

If fiat is nearly worthless and Bitcoin reaches a price of $10K, then what will it say about the value of Bitcoin?

If the economy stays like it is right now, and fiat is not worthless, then I'll sell a coin or 2 or 3 and keep holding the rest.

110110101

legendary

Activity: 1382

Merit: 1002

Quote from: Searing on August 17, 2016, 04:54:26 AM

......
I mined mine using Titan scrypt miners.Actually got some more from the KNC bankruptcy. So I'm about 35k since 2013 in elec and equip and such for that 100 btc.

I'll say that you made a good investment sir, hats off to you! Averaging the price to about 350 USD / BTC is far lower than the average price of BTC since 2013.
Congratulations!

dunfida

legendary

Activity: 3122

Merit: 1140

Maybe its possible to reach that price but the big question is when? maybe it would reach that amount for 20 years i guess since as of today we didnt even reach or surpass the $700 mark after the halving event. In that time if it reaches that amount then i would cash out all of my coins exchange to fiat and buy my own house , and made an investment.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: Searing on August 17, 2016, 04:54:26 AM

I mined mine using Titan scrypt miners.Actually got some more from the KNC bankruptcy. So I'm about 35k since 2013 in elec and equip and such for that 100 btc. The new equip
I scored should pay off 11.4k by Dec 15th. Thus I plan on sitting on the 100 btc and now it looks like I may be able to mine till End of Life on these machines and get down to (or close to) ZERO in any costs towards the 100 btc I'm sitting on now. I mean any $$$ of the remaining 25k or so I shoot towards NON-BTC related stuff....I can claim it knocks down my real
investment in BTC. Thus hopefully 100 BTC free and clear by end of life of my Titan Scrypt miners in total (3300mh)

Cowardice however increases on the above strategy Sad

added:

So to sum up ...if

1) btc goes up I'm golden

2) btc acts like a traditional stock investment and goes sidways say 5 to 7% a year up...also ok

3) btc goes beanie baby ..well I'm even

thus is the plan as it is now....sounds mighty nice when people ask me how much money I lost in BTC since 2013 I tell them I have 100
and (before new miners) 25k invested. It should sound even nicer if/when I say 100 btc in the hoard and have ZERO in it anymore. All profit

So yeah I'm probably in the 200 range of BTC so ahead of the game on top of the above

All with all, you're in a very comfortable position. Having that said, if you keep holding your coins (if you're still alive Tongue

), then you'll become an absolute elite in the Bitcoin world with that many coins. Especially when you consider that the majority of the people have cashed out their coins as the high prices are too tempting for them to resist.

jhenfelipe

hero member

Activity: 1372

Merit: 647

I can't say that it won't happen because nothing is impossible. Who knows, right? It may be just a matter of time. What I'm hoping is that, if ever it happens, I am still alive and I still have bitcoin in my wallet. If so, I would love to spend 3/4 of it with my family/friends and for our future. The rest will be left on my wallet for bitcoin transactions/savings.

Searing

copper member

Activity: 2898

Merit: 1465

Clueless!

Quote from: 1Referee on August 17, 2016, 04:41:09 AM

Quote from: Searing on August 17, 2016, 04:31:01 AM

Quote from: 1Referee on August 17, 2016, 04:27:15 AM

I am sure the majority of the people would have already sold their coins between the $1000-$2000 levels. But just for the sake of answering this question directly. I would cash out probably 25-50% of my total coin count. This is assuming I keep holding the coins that I have now till that price level.

Again I would be dead Sad

Too much 'joy' for my brittle heart if such a price would come to be with 100 btc in my hoard)

By the by when I had 1-10 BTC I was a lion for bravery in 2013-2014.
Buying equipment. Drinking the kool aid etc. Nothing fazed me.

Now with 100 BTC I sit around saying 'my precious' and spend most of my time going WTF is going on in the crypto world as my cowardice increases.

hmmm...more to lose now I guess (kool aid wore off damn it) Sad

I kinda understand you, but it also depends on the price you have been buying the majority of your coins at. If your average buying price sits far below the current market price, then there is not much to worry about. At this point the coins that I hold in cold storage have an average buying price of around $180-$200 which makes it quite easy for me to talk about being calm and everything. May I know what your average buying price is?

I mined mine using Titan scrypt miners.Actually got some more from the KNC bankruptcy. So I'm about 35k since 2013 in elec and equip and such for that 100 btc. The new equip
I scored should pay off 11.4k by Dec 15th. Thus I plan on sitting on the 100 btc and now it looks like I may be able to mine till End of Life on these machines and get down to (or close to) ZERO in any costs towards the 100 btc I'm sitting on now. I mean any $$$ of the remaining 25k or so I shoot towards NON-BTC related stuff....I can claim it knocks down my real
investment in BTC. Thus hopefully 100 BTC free and clear by end of life of my Titan Scrypt miners in total (3300mh)

Cowardice however increases on the above strategy Sad

added:

So to sum up ...if

1) btc goes up I'm golden

2) btc acts like a traditional stock investment and goes sidways say 5 to 7% a year up...also ok

3) btc goes beanie baby ..well I'm even

thus is the plan as it is now....sounds mighty nice when people ask me how much money I lost in BTC since 2013 I tell them I have 100
and (before new miners) 25k invested. It should sound even nicer if/when I say 100 btc in the hoard and have ZERO in it anymore. All profit

So yeah I'm probably in the 200 range of BTC so ahead of the game on top of the above

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: Searing on August 17, 2016, 04:31:01 AM

Quote from: 1Referee on August 17, 2016, 04:27:15 AM

I am sure the majority of the people would have already sold their coins between the $1000-$2000 levels. But just for the sake of answering this question directly. I would cash out probably 25-50% of my total coin count. This is assuming I keep holding the coins that I have now till that price level.

Again I would be dead Sad

Too much 'joy' for my brittle heart if such a price would come to be with 100 btc in my hoard)

By the by when I had 1-10 BTC I was a lion for bravery in 2013-2014.
Buying equipment. Drinking the kool aid etc. Nothing fazed me.

Now with 100 BTC I sit around saying 'my precious' and spend most of my time going WTF is going on in the crypto world as my cowardice increases.

hmmm...more to lose now I guess (kool aid wore off damn it) Sad

I kinda understand you, but it also depends on the price you have been buying the majority of your coins at. If your average buying price sits far below the current market price, then there is not much to worry about. At this point the coins that I hold in cold storage have an average buying price of around $180-$200 which makes it quite easy for me to talk about being calm and everything. May I know what your average buying price is?

Searing

copper member

Activity: 2898

Merit: 1465

Clueless!

Quote from: 1Referee on August 17, 2016, 04:27:15 AM

I am sure the majority of the people would have already sold their coins between the $1000-$2000 levels. But just for the sake of answering this question directly. I would cash out probably 25-50% of my total coin count. This is assuming I keep holding the coins that I have now till that price level.

Again I would be dead Sad

Too much 'joy' for my brittle heart if such a price would come to be with 100 btc in my hoard)

By the by when I had 1-10 BTC I was a lion for bravery in 2013-2014.
Buying equipment. Drinking the kool aid etc. Nothing fazed me.

Now with 100 BTC I sit around saying 'my precious' and spend most of my time going WTF is going on in the crypto world as my cowardice increases.

hmmm...more to lose now I guess (kool aid wore off damn it) Sad

TastyChillySauce00

legendary

Activity: 3010

Merit: 1028

Leading Crypto Sports Betting & Casino Platform

Quote from: 1Referee on August 17, 2016, 04:27:15 AM

I am sure the majority of the people would have already sold their coins between the $1000-$2000 levels. But just for the sake of answering this question directly. I would cash out probably 25-50% of my total coin count. This is assuming I keep holding the coins that I have now till that price level.

if the price were rising fast i guess they won't,the one which makes people selling their coin massly is a price falling which will make them panic and at the end it will become panic selling,they'll keep holding until it reach the peak and the price falling little bit,it's the rightest time i guess

1Referee

legendary

Activity: 2170

Merit: 1427

I am sure the majority of the people would have already sold their coins between the $1000-$2000 levels. But just for the sake of answering this question directly. I would cash out probably 25-50% of my total coin count. This is assuming I keep holding the coins that I have now till that price level.

Searing

copper member

Activity: 2898

Merit: 1465

Clueless!

Not much I'm afraid.

I have 100 btc.

The shock would kill me dead on the spot if it got to that price. (Just saying)

Recoon

newbie

Activity: 56

Merit: 0

more than 10.000 $ is a huge improvement. The best thing at that time will be follow the trade closely.

DaddyH

sr. member

Activity: 364

Merit: 250

How can anyone say BTC will never be worth $10k? If BTC can be adopted more and regarded as an alternative store of wealth by mainstream investors. Then the price will certainly grow.

TGD

hero member

Activity: 1288

Merit: 620

Wen Rolex?

Quote from: Bitcoinpro on August 16, 2016, 09:34:41 PM

I'd be getting ready for sharper moves higher

Actually it will hard to happen to that price it's very high , another question is if the price goes to $10,000 who will buy it? Need some buyers to make it move higher , and every one of us want to buy cheap but not in high price.

sulendra12

hero member

Activity: 2814

Merit: 526

Undeads.com - P2E Runner Game

Well , I think it's like a dream if that event comes true. But in past 2 years , we have seen about the price was up until $1000 but for $10k i think it's extremely hard to risk . If that happened , i will sell it and making offline shop in my home for getting stable income.

Topic: If Bitcoin moved above $10,000 USD per coin what would you do? - page 8. (Read 5887 times)