This is how Bitcoin discourages reckless consumption, and protects the environment.
Not the case with US dollars - you know that if you don't spend them now, you'll get toilet paper, eventually.
Topic: When to sell Bitcoin? - page 3. (Read 4752 times)
An easy example:
- When price double sell 25%. ( you will never run out of bitcoins, you will ever have enough profit in fiat )
- When price double sell 25%. ( you will never run out of bitcoins, you will ever have enough profit in fiat )
And when price halves, buy 25% (or whatever the correct percentage is to rebalance your portfolio).
I buy dollars (currently just 8.3 mB each) when I need to use my money somewhere that only takes dollars (which is most places right now, unfortunately).
An easy example:
- When price double sell 25%. ( you will never run out of bitcoins, you will ever have enough profit in fiat )
- When price double sell 25%. ( you will never run out of bitcoins, you will ever have enough profit in fiat )
Why would you want to buy dollars?
Right here. At a certain level of understanding and belief in cryptocurrency, the phrase cashing in ceases to exist.
I know the general direction that the $ is headed in the future, relative to what it is worth today.
I said "start cashing in or using".
You said selling. Bitcoin is money which is a way of communicating wealth.. you don't sell it, you spend it.
It's worshipping money and greed for profits, that's caused the crisis in the first place. Forget how many you hold and understand what Bitcoin represents and do what you can to support that but using Bitcoin as money.
If you want something useful to spend on, send some to wikileaksparty.org.au 1LCBp3nAeauWwtL9kbD5qkfzZ8DFjFvw8N
Eh all these hippies here talking about spending etc. Face it, majority of bitcoins popularity is due to fantasies of flying G6's bought with money BTC made them. And majority of talk about adoption is to rise the price to get closer to private planes.
I think you're all missing the point. I said "start cashing in or using". It doesn't matter if you trade for $ or use them the point is, when do you start depleting the hoard you've got?
And also, why was this post moved to speculation? I'm not asking anyone to speculate on the price. I'm asking a very serious question about the deflationary nature of Bitcoin. And I think this is one of the core issues with Bitcoin. With an inflationary currency there is no need to keep money in the bank, it will be worth less tomorrow than today. But Bitcoin is the opposite. It will be worth more tomorrow. So what motivating factors would make me want to get rid of (by any means) the bitcoins I own? What are others thinking now?
And also, why was this post moved to speculation? I'm not asking anyone to speculate on the price. I'm asking a very serious question about the deflationary nature of Bitcoin. And I think this is one of the core issues with Bitcoin. With an inflationary currency there is no need to keep money in the bank, it will be worth less tomorrow than today. But Bitcoin is the opposite. It will be worth more tomorrow. So what motivating factors would make me want to get rid of (by any means) the bitcoins I own? What are others thinking now?
Sometimes I wonder that the Government hasn't set their herp-derps to work, asking stupid base questions in a vain attempt to smear the concept. Appealing to some vague notion that 'all you neighbours' are selling their Bitcoins and because I say so therefore it won't be a success and you might as well hold fiat and trust your Government. #facepalm .. but then I recognise that we need to welcome all into the fold and some are slow to learn.
Why would you want to buy dollars?
sigh... 
You don't wanna sell your coins, you wanna SPEND them.
If everyone considers BTC as an investment vehicule, do you really think it will last ?
Please, whenever you consider spending $, check for an equivalent good/service you can pay with bitcoins.
Just spend the BTC instead of the $, you'll cut the fees and help BTC grow stronger.
You don't wanna sell your coins, you wanna SPEND them.
If everyone considers BTC as an investment vehicule, do you really think it will last ?
Please, whenever you consider spending $, check for an equivalent good/service you can pay with bitcoins.
Just spend the BTC instead of the $, you'll cut the fees and help BTC grow stronger.
The problem I see is people don't use bitcoin as an exchange for goods. We need to look at it as a currency not an investment.
I am certain that Bitcoin's value will continue to rise and rise. My fear, though, is that I may never want to sell. If it gets up to $10,000, that would be great but would I want to sell? Would I be holding on for $20,000, $200,000 or even $2,000,000? At what point would I say enough is enough and start cashing in or using? I have no idea. I haven't faced this yet.
But I know there are people on these forums that are facing this dilemma right now. I'm sure there are people who have acquired tens of thousands of bitcoins either by mining or buying when they were very cheap. At the current valuation, these people are already multi-millionaires. But how are they dealing with it? Are they still hoarding waiting for the price to go up even more or are they living the good life now? Any regrets?
But I know there are people on these forums that are facing this dilemma right now. I'm sure there are people who have acquired tens of thousands of bitcoins either by mining or buying when they were very cheap. At the current valuation, these people are already multi-millionaires. But how are they dealing with it? Are they still hoarding waiting for the price to go up even more or are they living the good life now? Any regrets?
Jump to: