having a nice little nest egg before bitcoins came into my life here is what i actually done
50% bitcoin
40% secure my housing/lifestyle
10% FIAT for those surprise emergencies that always come up
Topic: One million dollars in USD in US dollars or BTC? (Read 1805 times)
I would rather have the 8333 bitcoins than the 1000000 dollars.
But if you were going to give them to me, I would take the dollars and use them to buy bitcoins, saving some dollars for my personal spending until bitcoins become more widely accepted. This would push up the price of bitcoins, meaning the first bitcoins I bought would go up in price as I continue buying.
If you take the bitcoins the reverse is true, as you sell them to get more widely accepted dollars you push down the price and the rest of your bitcoins are thus worth less.
But if you were going to give them to me, I would take the dollars and use them to buy bitcoins, saving some dollars for my personal spending until bitcoins become more widely accepted. This would push up the price of bitcoins, meaning the first bitcoins I bought would go up in price as I continue buying.
If you take the bitcoins the reverse is true, as you sell them to get more widely accepted dollars you push down the price and the rest of your bitcoins are thus worth less.
If you lived in Cyprus or had a bank account there, that $1m USD would have become $128k (~100k EUR), whilst the BTC holder would still have the SAME number of bitcoins!
I'd take it 50/50. Just in case one of them fail. 
I'd take USD and buy bitcoin. Would help with liquidity maybe 
No question I would rather have the funds in USD
Any currency that goes up 1000% in a matter of months, i.e. Bitcoin, is NOT going to be a stable store of wealth. It is a deflationary tulip game of greater fools.
Great for anyone who horded the coin early and terrible for anyone trying to use the damn thing to do transactions - it may lose 90% of its purchasing power before you can complete a sale
Also, I really fear for the bagholder who moves substantial wealth into BTC now and absorbs a 50% (i.e. bought at $250) or 90% (i.e. if it drops back to 12 month moving average) hit. Oops.
Any currency that goes up 1000% in a matter of months, i.e. Bitcoin, is NOT going to be a stable store of wealth. It is a deflationary tulip game of greater fools.
Great for anyone who horded the coin early and terrible for anyone trying to use the damn thing to do transactions - it may lose 90% of its purchasing power before you can complete a sale
Also, I really fear for the bagholder who moves substantial wealth into BTC now and absorbs a 50% (i.e. bought at $250) or 90% (i.e. if it drops back to 12 month moving average) hit. Oops.
Looks like you got USD and BTC back to front and your numbers are off. When the USD suffers a failure of confidence, change you can't believe will happen rapidly.
If you're going to advocate fiat, then at least go for one you can believe in - China perhaps has one... but then you're talking about fiat and I'm laughing.
No question I would rather have the funds in USD
Any currency that goes up 1000% in a matter of months, i.e. Bitcoin, is NOT going to be a stable store of wealth. It is a deflationary tulip game of greater fools.
Great for anyone who horded the coin early and terrible for anyone trying to use the damn thing to do transactions - it may lose 90% of its purchasing power before you can complete a sale
Also, I really fear for the bagholder who moves substantial wealth into BTC now and absorbs a 50% (i.e. bought at $250) or 90% (i.e. if it drops back to 12 month moving average) hit. Oops.
Any currency that goes up 1000% in a matter of months, i.e. Bitcoin, is NOT going to be a stable store of wealth. It is a deflationary tulip game of greater fools.
Great for anyone who horded the coin early and terrible for anyone trying to use the damn thing to do transactions - it may lose 90% of its purchasing power before you can complete a sale
Also, I really fear for the bagholder who moves substantial wealth into BTC now and absorbs a 50% (i.e. bought at $250) or 90% (i.e. if it drops back to 12 month moving average) hit. Oops.
I would rather have a million US dollars worth of Zimbabwe dollars!
That's like 100 trillion dollars! I would be so rich.
That's like 100 trillion dollars! I would be so rich.
I think this is why we'll see quite a bit of resistance as the price approaches $1k. 20 years later they'll kick themselves just like those who sold just under $1 but they'll sell nonetheless.
they said the same crap about beanie babies.
beanie babies are neither scarce, nor useful, nor revolutionary.
Time will tell, and I know what side I'm on.
but most people don't want to store anything. Most people, if they had $1,000,000, would go buy the things they want and then rely on the safety the government affords them. A house, some cars, blah blah, next thing you know after all the legal processes are done and they have everything they ever needed/wanted, they have completely forgot about Bitcoin because it's just not practical.
LOL! And this is why most people who win millions in lotteries end up piss poor, with more debt than they started with. What "most people" should do with that money is invest it and continue to live the way they used to, using that $1mil to live off of.
Most people don't know how to handle money, because most people don't know anything about money, other than paycheck comes in, bills go out. They have no clue about budgeting, diversification, investments, etc. Most bitcoiners on the other hand do, since that's the stage Bitcoin is at presently, requiring understanding of money, economics, investment, and risk.
they said the same crap about beanie babies.
How many global companies have sprouted around Beanie Baby trade? How many venture capitalists and millionaire investors have dumped millions into Beanie Baby based companies? How many newspaper and government articles were published discussing the merits of Beanie Babies, and their threat to established currencies and regulations? What will it take, short of your employer forcing you to accept Bitcoin because everyone else does, for you to start seeing Bitcoin as something more than a Beanie Baby?
BTC obviously.
Storing that much cash at home is a PITA. Storing it at a bank guarantees everyone knows you have that money, and also guarantees you lose about 40% of it to taxes right away. Having to move that money around through the banking system is a PITA as well, which you will have to, since banks only insure $250,000 of it. Also, just having $1mil USD would suck, since you'll be losing about 2.5% of it every year due to inflation, and it would be another PITA to transfer it somewhere where you can invest it. And if you ever need to move to another country, or move your money out of the country, it's a PITA x 10.
Being able to have all that money in BTC, sitting in a secure offline storage, and just pulling out only what you need while it continues to grow, is way more convenient.
Storing that much cash at home is a PITA. Storing it at a bank guarantees everyone knows you have that money, and also guarantees you lose about 40% of it to taxes right away. Having to move that money around through the banking system is a PITA as well, which you will have to, since banks only insure $250,000 of it. Also, just having $1mil USD would suck, since you'll be losing about 2.5% of it every year due to inflation, and it would be another PITA to transfer it somewhere where you can invest it. And if you ever need to move to another country, or move your money out of the country, it's a PITA x 10.
Being able to have all that money in BTC, sitting in a secure offline storage, and just pulling out only what you need while it continues to grow, is way more convenient.
I'd take the Bitcoin any day.
and yet Bitcoin is trading at 122x the value of one of its notes
Hang on a minute.
It depends if it was my first million dollars..
I wouldn't put everything to BTC just yet but certainly the larger fraction of any unspent windfall would be put outside fiat. The whole plan with fiat right now is a coordinated devaluation.. it's the only option 'they' can provide..
I wouldn't put everything to BTC just yet but certainly the larger fraction of any unspent windfall would be put outside fiat. The whole plan with fiat right now is a coordinated devaluation.. it's the only option 'they' can provide..
The key is diversification, if you take 1,000,000 USD and just store them as is (either full USD or full BTC), you're not quite smart either way.
no need for a poll please send me 10,000 btc
I would take in in BTC
I think this is why we'll see quite a bit of resistance as the price approaches $1k. 20 years later they'll kick themselves just like those who sold just under $1 but they'll sell nonetheless.
bitcoin needs more stupid people like you so the price can bubble up againthis is an opinion
its interesting that you are calling people stupid and yet you seem to dont understand healthy value bitcoin have to have. so maybe it should be the opposite.
I think this is why we'll see quite a bit of resistance as the price approaches $1k. 20 years later they'll kick themselves just like those who sold just under $1 but they'll sell nonetheless.
bitcoin needs more stupid people like you so the price can bubble up againthis is an opinion
I think this is why we'll see quite a bit of resistance as the price approaches $1k. 20 years later they'll kick themselves just like those who sold just under $1 but they'll sell nonetheless.
they said the same crap about beanie babies.
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