Upping the stakes: what if BTC gets to $5000?

MaxTax

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Quote from: 1Referee on May 11, 2015, 02:29:58 PM

Quote from: Xialla on May 11, 2015, 09:09:34 AM

hm, it is possible that bitcoin will gets to 5k$, but there is another question. in this time, what you will be able to buy with 5k btc? gallon of petrol?

You can buy everything you want already. No need to wait for $5K which isn't going to happen anyway within a decent amount of years.

Simply get yourself a credit card that convert your btc balance to whatever fiat currency you want.

It will be so good. But you never know what can happen later of course in the future and that is quite risky.
But I dont think that is possible. Because it is a very high value and you can see now that it is rising very very slowly.

7Priest7

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Quote from: OROBTC on May 11, 2015, 12:29:11 AM

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OK the general gist I read in the $1000 thread was that many (but there was big diversity of actions many would take) would cash-out most of their BTC were it to read $1000. Maybe re-buy on bounces, etc.

$1000 seems a modest long-term price to me. I'm not a seller at a measly $1000.

So, what will you do (if you have any left after selling at $1000, $2000, etc.) with any that get to $5000?

I'll sell some along the way to buy gold, most I will HODL!

first of all, i don't think that it will happen anytime soon, will take few years atleast, 5000$ is huge price

and second, price would fall instantly, because i, and probably almost every bitcoin user, would sell their coins, so price will fall down

but anyway, would be awesome to see 5000$

vendetahome

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Quote from: OROBTC on May 11, 2015, 12:29:11 AM

...

OK the general gist I read in the $1000 thread was that many (but there was big diversity of actions many would take) would cash-out most of their BTC were it to read $1000. Maybe re-buy on bounces, etc.

$1000 seems a modest long-term price to me. I'm not a seller at a measly $1000.

So, what will you do (if you have any left after selling at $1000, $2000, etc.) with any that get to $5000?

I'll sell some along the way to buy gold, most I will HODL!

first off all, it would be awesome news for bitcoin because it's price never was so high, and i don't think that it may be bad for bitcoin because even if people will sell their bitcoins, there will be buyers anyway, and more stores would accept bitcoin finally, so only a good things if bitcoin would be so high

Natalia_AnatolioPAMM

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why not 10 000$ ?

LFC_Bitcoin

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@ the OP -

I'd probably sell enough to pay off my mortgage, sell some to invest in some buy to let properties & sell some to have a celebratory holiday or two.
I'd then hodl the remaining 25% or so incase the price rose even more.
I'd never sell everything because if we reached 5000 USD who could say that was the limit?
It could quite easily go to way more & I'd never forgive myself if I sold everything at 5000 if it went to 50000 5-10 years later.
The main rule is never sell completely everything just incase astronomical highs arrive at a later date.

g-unit

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I would leave it as BTC. Chances are if it goes that high it will be widely usable for purchasing things; therefore, no need to cash out. Also, this way you never have to pay capital gains taxes.

Meuh6879

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Quote from: Amph on May 15, 2015, 02:28:20 AM

5k is reachable(in theory) with this halving, it would be a x25 increase, which isn't something that never happened(i remember something alike in 2011), the next halving should bring even more power to the bitcoin price

i'm in the same way ... from 2012 to 2015, bitcoin value (stable, so the maw low value) reach from 0 to 200 USD.

and when you see what append if BTC take much more than 800 USD in the newspapers, it's easy to project the value over 500 USD stable in 2018.

Meuh6879

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Quote from: OROBTC on May 11, 2015, 12:29:11 AM

So, what will you do (if you have any left after selling at $1000, $2000, etc.) with any that get to $5000?

buy my house.

Amph

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Quote from: prodigy8 on May 14, 2015, 11:06:31 PM

I think we have to wait for minimum 3 years as now its jumping may be before 3 years its can touch this figure.
the applications of BTC are increasing rather than decreasing and number of coins mined daily are also decreasing, it's likely that it will remain here and high priced.

5k is reachable(in theory) with this halving, it would be a x25 increase, which isn't something that never happened(i remember something alike in 2011), the next halving should bring even more power to the bitcoin price

prodigy8

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I think we have to wait for minimum 3 years as now its jumping may be before 3 years its can touch this figure.
the applications of BTC are increasing rather than decreasing and number of coins mined daily are also decreasing, it's likely that it will remain here and high priced.

OROBTC

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Shindo1988

Yes, I am an American living in the USA.

You are correct that a chunk of money can go a long way in a developing country. Our family's attorney has suggested that we could indeed "get more bang for the buck" by doing something like adding a small wing to a rural hospital in places like Peru (many others too). Although Peru is not as much of a bargain as it used to be.

Giving money away to a worthy cause turns out to be difficult. It is hard to know that your money does any good. Or gets stolen or misused.

Also, beware the charity. Ah, The Gates Foundation may be objectionable to many... They say many good things, but are alleged to have "another agenda", but since I do not KNOW that, I just use that as an example of doing due diligence before making a big contribution (like in your Last Will or something).

mrhelpful

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If it ever got to that point, I`d be buying myself a $200 lapdance/escort/whatever.

Then the next would be paying off bills, and then buying myself a small apartment with all the cash out and buy back in when it drops again.

1Referee

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Quote from: Xialla on May 11, 2015, 09:09:34 AM

hm, it is possible that bitcoin will gets to 5k$, but there is another question. in this time, what you will be able to buy with 5k btc? gallon of petrol?

You can buy everything you want already. No need to wait for $5K which isn't going to happen anyway within a decent amount of years.

Simply get yourself a credit card that convert your btc balance to whatever fiat currency you want.

Xialla

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/dev/null

hm, it is possible that bitcoin will gets to 5k$, but there is another question. in this time, what you will be able to buy with 5k btc? gallon of petrol?

Q7

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For it to go up to 1000 i hope there is a real good real reason to it. and provided there is a strong fundamental backing the increase we should be able to judge from there and determine whether it will go up even further. Seriously if it does get to 1000, probably i would probably consider selling a small portion to recoup my investment and the rest leave it there to see how high it can go.

ThatDGuy

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Quote from: Hot Carl on May 11, 2015, 05:29:12 AM

Quote from: OROBTC on May 11, 2015, 12:29:11 AM

OK the general gist I read in the $1000 thread was that many (but there was big diversity of actions many would take) would cash-out most of their BTC were it to read $1000. Maybe re-buy on bounces, etc.

$1000 seems a modest long-term price to me. I'm not a seller at a measly $1000.

Of course 1000 is modest. It's already been that value before and bitcoin is getting bigger every week in terms of adoption, though I am surprise it hasn't gone to anywhere near that price again. If we say bitcoin will achieve 1k in two years time then maybe it will be 5k in five years. Just my speculation but things have been moving slow. We need something to give bitcoin a boost.

We're somewhere near the bottom of the longest bear market BTC has ever seen. Bull Markets in this space don't take nearly as long to launch fireworks. Might not need to wait 5 years to see 5k.

Hot Carl

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Quote from: OROBTC on May 11, 2015, 12:29:11 AM

OK the general gist I read in the $1000 thread was that many (but there was big diversity of actions many would take) would cash-out most of their BTC were it to read $1000. Maybe re-buy on bounces, etc.

$1000 seems a modest long-term price to me. I'm not a seller at a measly $1000.

Of course 1000 is modest. It's already been that value before and bitcoin is getting bigger every week in terms of adoption, though I am surprise it hasn't gone to anywhere near that price again. If we say bitcoin will achieve 1k in two years time then maybe it will be 5k in five years. Just my speculation but things have been moving slow. We need something to give bitcoin a boost.

randy8777

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like most people i would sell like 20-50% and the rest i will hold it for a very long time. better safe than sorry. don't want to stay behind when it reaches a few $k

NeuroticFish

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Quote from: OROBTC on May 11, 2015, 12:29:11 AM

...

OK the general gist I read in the $1000 thread was that many (but there was big diversity of actions many would take) would cash-out most of their BTC were it to read $1000. Maybe re-buy on bounces, etc.

$1000 seems a modest long-term price to me. I'm not a seller at a measly $1000.

So, what will you do (if you have any left after selling at $1000, $2000, etc.) with any that get to $5000?

I'll sell some along the way to buy gold, most I will HODL!

Hopefully until then I'll have enough BTC to buy a house. And yeah, I'll spend...though where 5000$ was reached, 50k$ is not that far.

jacktheking

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I dont have 1 full Bitcoin yet. However, if Bitcoin price reach $1000, I wont be selling it. Not because I want to sell at $5000 but.. I dont have paypal and I use Bitcoin as a form of money.

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