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Topic: If BTC goes to $1000 or more, what would you do? - page 29. (Read 38410 times)

legendary
Activity: 2632
Merit: 1094
It is not good to store bitcoins if their price rises as the price may suddenly and all the buyer will incur a huge loss. One should consider short term investments rather than long term and for me, I would store it for just a week or less and exchange them or buy some gift cards.
member
Activity: 64
Merit: 10
i was looking at this section of forum before: lending
imagine the price goes up to $1000 right now, Cheesy so many people will be screwed

I think this happened to a forum member here when the price skyrocketed the first time and he couldn't pay it back. That's why it's probably best to lend the amount in a dollar value.
full member
Activity: 223
Merit: 100
at $2500 I stop working for other people and on my own ideas only.

why not now? Well, I don't have the balls, I guess.

This sucks, I should start working exclusively on my own stuff NOW.

Anyone have an idea how to overcome the fear to do that?


Life is to short for tomorrow to get your own ideas off the ground what if tomorrow never comes? Then you would have never done it would you, that would be a fail. Have a good talking to yourself and sort it out.

If it goes to 1000 i could possibly retire at 30 and just keep plodding along raising my babys have my fingers in a few pies to keep the moneys up and just be quite excited to not have financial worries for my family.

Come on the 1000 lol
hero member
Activity: 840
Merit: 1000
 Grin  Buy house, car, do the jobs which I love to, like being a professional poker player or btc trader.

But firstly, I need to have at least hundreds or even thousands of btc, I will have financial freedom because btc is crazy going up to 10k USD again.  Shocked Shocked
legendary
Activity: 1008
Merit: 1000
The companies (probably most companies who accept BTC) using payment processors to instantly convert to fiat and tank the markets by oversupply are not "the Bitcoin economy". They fucked the Bitcoin economy by putting everyone who bought at higher prices in the position of having to spend/sell at a loss, or hold so as not to lose money. Not spending BTC on fuckers.

What would you have them do? Bitcoin is volatile, and their operations run on paper money.

One would presume a company wouldn't be running in the red or such razor thin margins that it would go bankrupt by not dumping (holding) BTC, with BTC conversions only a single digit or decimal percentage of their gross income, and they especially wouldn't if most other companies did the same. But see the asterisk below.


It is not a question of margin. Companies have to operate on strict budget. They can't report their balances as say within some range, the projections have to be accurate.
legendary
Activity: 3248
Merit: 1070
1k was already reached, i'm waiting for more this time, i want something like 3k-5k, i'll not dump at 1k for sure

and in any case i'll retain 50% or less, i'm not sure now
sr. member
Activity: 266
Merit: 250
i think btc will be most valuable when its close to the 21 millionth coin being mined.

how long it took to reach 21m bitcoin?

when bitcoin is up at the mine, whether it be good enough for the price bitcoin?
member
Activity: 112
Merit: 10
If it hit $1000 I would not do a whole lot... I am not making much BTC at the moment although I should be soon.
sr. member
Activity: 322
Merit: 250
at $2500 I stop working for other people and on my own ideas only.

why not now? Well, I don't have the balls, I guess.

This sucks, I should start working exclusively on my own stuff NOW.

Anyone have an idea how to overcome the fear to do that?


Put a few million dollars in your emergency savings account.
donator
Activity: 2772
Merit: 1019
at $2500 I stop working for other people and on my own ideas only.

why not now? Well, I don't have the balls, I guess.

This sucks, I should start working exclusively on my own stuff NOW.

Anyone have an idea how to overcome the fear to do that?
legendary
Activity: 3038
Merit: 1032
RIP Mommy
Seriously, how short is your attention span?

It's going to take years to set up the infrastructure that allows Bitcoin to be a viable replacement for central bank currencies.

Setting up merchants to accept Bitcoin today who just immediately sell for fiat is a long-term benefit that might not be show obvious results until 2020.

My attention span is 6 years, 2 months, 6 days. Or "two weeks", I suppose.

"viable replacement for central bank currencies"? Replacement=100% of a fiat first company's revenue now coming in the form of BTC payments from customers, after the "two weeks" are up.

I'm only talking about not dumping the 1% or whatever of their revenue that comes from BTC and not fiat, TODAY.

One would presume a company wouldn't be running in the red or such razor thin margins that it would go bankrupt by not dumping (holding) BTC, with BTC conversions only a single digit or decimal percentage of their gross income, and they especially wouldn't if most other companies did the same.
legendary
Activity: 3472
Merit: 10611
i was looking at this section of forum before: lending
imagine the price goes up to $1000 right now, Cheesy so many people will be screwed
legendary
Activity: 1400
Merit: 1013
Seriously, how short is your attention span?

It's going to take years to set up the infrastructure that allows Bitcoin to be a viable replacement for central bank currencies.

Setting up merchants to accept Bitcoin today who just immediately sell for fiat is a long-term benefit that might not be show obvious results until 2020.
legendary
Activity: 3038
Merit: 1032
RIP Mommy
The companies (probably most companies who accept BTC) using payment processors to instantly convert to fiat and tank the markets by oversupply are not "the Bitcoin economy". They fucked the Bitcoin economy by putting everyone who bought at higher prices in the position of having to spend/sell at a loss, or hold so as not to lose money. Not spending BTC on fuckers.

What would you have them do? Bitcoin is volatile, and their operations run on paper money.

One would presume a company wouldn't be running in the red or such razor thin margins that it would go bankrupt by not dumping (holding) BTC, with BTC conversions only a single digit or decimal percentage of their gross income, and they especially wouldn't if most other companies did the same. But see the asterisk below.

The companies (probably most companies who accept BTC) using payment processors to instantly convert to fiat and tank the markets by oversupply are not "the Bitcoin economy". They fucked the Bitcoin economy by putting everyone who bought at higher prices in the position of having to spend/sell at a loss, or hold so as not to lose money. Not spending BTC on fuckers.
The payment processors who are selling bitcoins are doing you a favor by keeping the prices low while you can still accumulate.

Anyone can accumulate at any price point with an infinitely divisible currency, but they shouldn't, if they are effectively guaranteed to lose value because of fuckers.

Quote
They are also widening the liquidity channels that allows value to flow from the legacy economy into the Bitcoin economy.

And right back to the legacy economy, with almost no exceptions (Amagi Metals 100%, one other one recently 100%, Overstock 10% - though considering their lackluster BTC earnings reports, they might have dropped the percentage).

Quote
AFAIK, all the major payment processors give their customers the option to adjust the btc/fiat percentages of their payout.

But how many actually do, that aren't publicly announcing it (legally required to, or not)? Can that data be aggregated from accounts without violating privacy policies?

Quote
This means that once a merchant is set up, their sales volume becomes a potential source of liquidity in the future.

* Potentially, but they'd have to be time travelers, optimists or morons to be the first or amongst the first to say "hey, this asset that keeps losing value, we should convert less of that!"

Quote
Value flowing into Bitcoin via commerce (products and services) is much less subject to chokepoints than value flowing into Bitcoin via exchanges and the legacy banking system.

Supply & wholesale for fiat only is a pretty big chokepoint. Don't see much end-to-end bitcoin value flow.

Quote
In a world where many merchants are set up to accept btc, even if they immediately sell 100% of it, you should be able to envision a positive feedback loop in which some merchants start taking a greater percentage of their payouts in btc, which causes a positive change in the exchange rate, which causes more merchants to increase their btc percentage, which causes more positive change in the exchange rate...

Right now there is a self-reinforcing negative feedback loop (present $10 daily rally insignificant enough to not be included) that requires the type of people above to break it, and enough of them to cancel out the dumpers.
legendary
Activity: 1400
Merit: 1013
The companies (probably most companies who accept BTC) using payment processors to instantly convert to fiat and tank the markets by oversupply are not "the Bitcoin economy". They fucked the Bitcoin economy by putting everyone who bought at higher prices in the position of having to spend/sell at a loss, or hold so as not to lose money. Not spending BTC on fuckers.
The payment processors who are selling bitcoins are doing you a favor by keeping the prices low while you can still accumulate.

They are also widening the liquidity channels that allows value to flow from the legacy economy into the Bitcoin economy.

AFAIK, all the major payment processors give their customers the option to adjust the btc/fiat percentages of their payout.

This means that once a merchant is set up, their sales volume becomes a potential source of liquidity in the future.

Value flowing into Bitcoin via commerce (products and services) is much less subject to chokepoints than value flowing into Bitcoin via exchanges and the legacy banking system.

In a world where many merchants are set up to accept btc, even if they immediately sell 100% of it, you should be able to envision a positive feedback loop in which some merchants start taking a greater percentage of their payouts in btc, which causes a positive change in the exchange rate, which causes more merchants to increase their btc percentage, which causes more positive change in the exchange rate...
legendary
Activity: 1008
Merit: 1000
The companies (probably most companies who accept BTC) using payment processors to instantly convert to fiat and tank the markets by oversupply are not "the Bitcoin economy". They fucked the Bitcoin economy by putting everyone who bought at higher prices in the position of having to spend/sell at a loss, or hold so as not to lose money. Not spending BTC on fuckers.

What would you have them do? Bitcoin is volatile, and their operations run on paper money.
legendary
Activity: 1400
Merit: 1013
Quote
If BTC goes to $1000 or more, what would you do?

Buy fewer of them each month.
legendary
Activity: 3038
Merit: 1032
RIP Mommy
instead of selling my coins i think i will actually spend them on something cool.
but that's now. it might change when it really happens. but before that i need to have more coins.

I mine and use coins.
No point in using Bitcoin if you just hold and never sell or buy with them.

Spending Bitcoins also helps the Bitcoin economy...

The companies (probably most companies who accept BTC) using payment processors to instantly convert to fiat and tank the markets by oversupply are not "the Bitcoin economy". They fucked the Bitcoin economy by putting everyone who bought at higher prices in the position of having to spend/sell at a loss, or hold so as not to lose money. Not spending BTC on fuckers.
legendary
Activity: 1008
Merit: 1000
At $1000, nothing special. We have already seen one $1000 incident so it is nothing new.

Now, if it went to $10,000 then I could think of splurging for a nice vacation, or a car.
legendary
Activity: 2296
Merit: 1031
I'd jump for joy and probably consider buying some video cards again lol.  Sad but true and I know there are gamers that hate me for it.  $1K prices again would be really exciting.
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