I already cashed out. I got out of USD and now have real money.
you must be crazy 
Topic: When are you going to cash out? - page 7. (Read 11087 times)
When Bitcoin becomes a value store worth a hundred billion dollars in todays value I will sell 1/2 of my holdings to purchase myself a yacht.
The remainder will be comfortably lived on.
100 000 000 000 / 21 000 000 = 4761.9047619
The remainder will be comfortably lived on.
100 000 000 000 / 21 000 000 = 4761.9047619
If this happens you will probably find a few companies selling a yacht for BTC (unless USD hyperinflates e.g. when you have to pay $100 for a hamburger....it doesn't take a lot of companies to join to get to $4k+ per BTC then)
I'm not planning to cash out at any point - I'm trying to get what I need for BTC - and I really don't need fiat money. If I wanted to cash out e.g. @ $50 per BTC I would not only have to pay a lot of taxes when cashing out, but I'd also have to pay taxes for products purchased with my fiat money....
I already cashed out. I got out of USD and now have real money.
Bingo!
I already cashed out. I got out of USD and now have real money.
I originally had small staggered sell orders starting at 7 and moving up at 19% increase intervals. That would have sold half the coins I bought at 2 by the time the price reached 100. During the period of stability around 5, I canceled them all.
Tax reasons. I didn't make the rules, and I don't like them, but I've gotten pretty good at playing by them. I haven't paid income tax in years, not because of any fraud on my part, but simply because I limit my taxable income. If I sell my coins, that streak will come to an end. So a major cash out is no longer part of my plan.
And as others have mentioned, the necessity of converting back to any other currency to spend is declining daily.
Tax reasons. I didn't make the rules, and I don't like them, but I've gotten pretty good at playing by them. I haven't paid income tax in years, not because of any fraud on my part, but simply because I limit my taxable income. If I sell my coins, that streak will come to an end. So a major cash out is no longer part of my plan.
And as others have mentioned, the necessity of converting back to any other currency to spend is declining daily.
I plan to sell in steps as the price rises, I just haven't quite figured out what those steps should be.
Maybe 20% @ $100, 20% of what's left @ $500, 20% of what's left after that @ $1,000, same again @ $5000, again at $10,000, etc.
That way, I always have something to sell when the price rises, no matter how far it rises.
Maybe 20% @ $100, 20% of what's left @ $500, 20% of what's left after that @ $1,000, same again @ $5000, again at $10,000, etc.
That way, I always have something to sell when the price rises, no matter how far it rises.
I'm not planning to cash out. I hope in few years we could buy most things for bitcoin. Fiat burns holes in my pockets.
That would be my hope. I hope society cashes out of fiat, and that's that.
Exactly.
I'm not planning to cash out. I hope in few years we could buy most things for bitcoin. Fiat burns holes in my pockets.
That would be my hope. I hope society cashes out of fiat, and that's that.
I'm not planning to cash out. I hope in few years we could buy most things for bitcoin. Fiat burns holes in my pockets.
I am only cashing out, if Bitcoins becomes FU money, like if my wealth turns into $100million then I would have no choice. Otherwise I am here for the long haul.
How much belief do you have in BTC 
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