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Topic: What price is high enough? - page 3. (Read 3631 times)

newbie
Activity: 39
Merit: 0
June 07, 2011, 06:50:51 PM
#7

How much higher does the price need to go for you to cash out of your bitcoins? What are the reasons why you are not selling now? Is it that you expect the currency to appreciate further? Or are there any other reasons why you are not cashing out?


If you think we're here treating this thing as some kind of ponzi scheme so we can 'cash out', you're completely missing the point and true intent of Bitcoin.  Sure, I'm sure (unfortunately) there are plenty of pump&dumpers here.. it's to be expected.  However our dream and objective is to actually use this currency as a *replacement*, not as a way to get rich in FIAT-money denominated terms.   I want to be able to spend Bitcoin anywhere.  I'd actually be happy to see the pump&dumpers and speculators leave, so I can buy more Bitcoin at a cheaper price.

The more intelligent here are holding onto their coins and riding out the inevitable bumps because they 'get it'.  The gamblers are sitting there refreshing bitcoincharts.com all day waiting nervously to see if/when 'everyone else' will start selling.  I know which side I'm on.  Bitcoin is a much, much bigger deal than I think a lot of the college kids, newcomers & gamblers on this forum realize.  I'm what you would call one of the 'early adopters' and most people would gasp if they knew how much coin I had.  I spent most of it already and even though I'd be rich if I would've kept it, I don't mind.  It's about the dream, it's not about getting rich in federal reserve notes.
bpd
member
Activity: 114
Merit: 10
June 07, 2011, 06:47:59 PM
#6
There's no one price that's universally applicable -- everyone has different risk tolerances. Here's one potential strategy though.

If you hold $X worth of bitcoin, and $X/3 is a lifestyle-changing amount of money for you, sell 1/3 of your bitcoins.  For example, if $100,000 would change your life, sell a third when you have $300,000 worth of BTC.  Continue to apply this strategy going forward. If you have $100k, another $100k won't change your life. But $500k might. So when your remaining $200k worth of bitcoins becomes $1.5M, sell $500k.  And so on, and so forth.

There's nothing magical about 1/3... you could apply the same strategy with 1/2.  Either way, you will never fully sell all your bitcoins, which is a good thing in case it rises to truly ridiculous levels.
full member
Activity: 126
Merit: 100
June 07, 2011, 06:44:55 PM
#5
The thing is, I don't want to cash out. I want to be able to pay everything in bitcoins.

1 btc > 1e6 or 1e7 $

By then, it will certainly be possible.
legendary
Activity: 2114
Merit: 1040
A Great Time to Start Something!
June 07, 2011, 06:41:45 PM
#4
I thought a much longer pause near $10 would be healthy for the project. It is (long past the) time to build more websites and businesses that accept BTC.
legendary
Activity: 938
Merit: 1001
bitcoin - the aerogel of money
June 07, 2011, 06:38:19 PM
#3
over 9000
full member
Activity: 154
Merit: 100
June 07, 2011, 06:31:03 PM
#2
I bought most of my bitcoin back when they were 90c. I never imagined that a few months later they would be worth 20 times more. I would have been satisfied with an appreciation of 10-20% - after all that is far more than what my bank pays.

How much higher does the price need to go for you to cash out of your bitcoins? What are the reasons why you are not selling now? Is it that you expect the currency to appreciate further? Or are there any other reasons why you are not cashing out?


I'd probably consider recovering part of my initial investment in the $25-30 range, then holding the rest hoping it hits the sky
full member
Activity: 136
Merit: 100
June 07, 2011, 06:29:38 PM
#1
I bought most of my bitcoin back when they were 90c. I never imagined that a few months later they would be worth 20 times more. I would have been satisfied with an appreciation of 10-20% - after all that is far more than what my bank pays.

How much higher does the price need to go for you to cash out of your bitcoins? What are the reasons why you are not selling now? Is it that you expect the currency to appreciate further? Or are there any other reasons why you are not cashing out?
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