Topic: Poll: At what price does the rapid rise make you nervous/sell in the next month? (Read 2270 times)

No option for buying dollars with 1 bitcoin at $160,000 to pay off my mortgage.

The rest is my currency, why would I get rid of it?

So where is option for us who don't have almost any bitcoins(0.00012159 for me ).

"I'm just here to 'troll' you!"

At 1M that will get me one or two nice dinners

Damn... we might just hit $300 by tomorrow. There is just no resistance. My grandma just called me and now she wants to buy some BTC! lol

I like this Poll. I am nosy what the mass will answer.

It doesn't make any sense to pick a single value and cash out at that value.  None.  No sense at all.

That said, when value nears or crosses $1000 USD per bitcoin, I will probably sell 3-5% of my holdings.  Again at $5k, and $25k, $100k, $500k, etc.  Eventually though it may get to the point where NOBODY cashes out, because BTC is the standard currency of the world, and you just use it directly.  

I imagine a comical situation in 5-10 years in which someone finally sells out his 50 BTC at $1 billion each and is overjoyed at being a multi-billionaire, just before he realizes that USD is now worthless and his $50 billion isn't even enough to buy a hamburger.

"I like to sell high and buy back higher! " Option added lol

Where is the option for buying and selling constantly?

Yeah might as well, right? Go hog wild while still knowing you'll have a secure nest egg waiting for you on the other side of the Bitcoin singularity, whatever happens.

I dont understand it either. Why to change good currency for bad one? I would do it only to buy something i currently need. And i would advise to not fear about moving bitcoin back stright to 0. If you think about it anything can crash that way but does it have to?

If Bitcoin is the Facebook of crypto currency, then who was the Myspace or the Friendster?

Ok ok. I will cash some out at $1000.00 and buy myself a brand new Ford Raptor pickup, a couple more AR-15s, a shit load more ammo and that AR-50 I have been looking at for awhile. Yes I am a redneck that was raised on a farm & ranch in the middle of no where. lol

lol! Name another investment that has performed as well as BTC in the past three months? So yes, yes I would! 

Never said they where, only said the internet was first. They are the ones history will remember. Just as Bitcoin was not the first virtual currency. But it will be the one that goes down in the annals of history.

Who said anything about banks? Gold, silver, oil, food, land, businesses, or whatever. It's simple: Bitcoin has a substantial chance of going to $0. You can very easily arrange other assets so that they do not have a substantial chance of falling very much at all. Even dollars in a wobbly bank + BTC, which is just about the worst possible diversification strategy, is nevertheless much safer than only BTC.

Diversification doesn't make you money, but it does help lock in your newfound wealth. This shouldn't be controversial as it's merely basic statistics that if you have $10 million and spread the risk around it reduces the chance you will ever not be a millionaire anymore. To me the value of being a millionaire is not that much less than being a billionaire. I'd much rather be a millionaire than have to wonder whether I will be a billionaire *OR* have to return to a normal middle-class existence. YMMV, and your diversification strategy should vary accordingly. Let's not get all ridiculous here.

Besides, if Bitcoin succeeds in reaching full mainstream adoption you can probably still be a billionaire even if you diversify on the way up. If you really believe in the potential, one bitcoin should be enough to ensure a lavish lifestyle in the scenario where Bitcoin succeeds.

What is the difference between being worth $1m and deciding to invest it all in BTC, and having a $1m of BTC and no other assets.

Would you tell somebody worth $1m to invest it all in BTC?

If so "I have business proposition for you ..."  

I´d like to slow your internet(s)

Google was not the first search engine.

Facebook was not the first social network.

And you trust central banks not to confiscate your money either through direct acquisition or through "quantitative easing"??

Holding but will be nervous if we go toward $1000 and will diversify a small percent of BTC.

Everyone should have a diversification plan. When you reach $1 million net worth, will you really keep ALL your money in BTC? Think about what percent you will diversify out on the way up, based on the famous Bitcoin assymetric bet (Hudreds of thousands of dollars per coin or more vs. $0).

For example, taking out 20% of your BTC at each order of magnitude increase and putting them into other assets might make sense.

Example: You invested $10,000. When you reach $100,000 you sell $20,000 worth and keep the rest. When the rest reaches $1,000,000 you sell $200,000 and keep the rest. Etc. Seems well balanced given the risks, and you will still be filthy rich if Bitcoin succeeds.

For some people 10% will make sense, for some 5%, and for some 30-50% might even make sense (such as anon_bitcoin_gambler on reddit).

No one ever went broke taking profits.