Will You Sell when BTC Hits $1,000? - page 5.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: adamstgBit on November 15, 2013, 04:01:45 PM

Quote from: AlgoSwan on November 15, 2013, 03:58:33 PM

Quote from: cryptoanarchist on November 15, 2013, 10:58:54 AM

I'll probably sell some bitcoins right after they hit $1000 for other cryptocoins because there will be a sell off after hitting such a milestone. Then I'll buy some back after the sell off for a net profit in both currencies.

Excellent hedging strategy. Do you have any specific cryptocurrency for this operation?

I buy FTC, because its shiny.

What if it becomes rusty?

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

Quote from: AlgoSwan on November 15, 2013, 03:58:33 PM

Quote from: cryptoanarchist on November 15, 2013, 10:58:54 AM

I'll probably sell some bitcoins right after they hit $1000 for other cryptocoins because there will be a sell off after hitting such a milestone. Then I'll buy some back after the sell off for a net profit in both currencies.

Excellent hedging strategy. Do you have any specific cryptocurrency for this operation?

I buy FTC, because its shiny.

AlgoSwan

sr. member

Activity: 308

Merit: 250

ancap

Quote from: cryptoanarchist on November 15, 2013, 10:58:54 AM

I'll probably sell some bitcoins right after they hit $1000 for other cryptocoins because there will be a sell off after hitting such a milestone. Then I'll buy some back after the sell off for a net profit in both currencies.

Excellent hedging strategy. Do you have any specific cryptocurrency for this operation?

cryptoanarchist

legendary

Activity: 1120

Merit: 1003

Sell $1000 bitcoins for FRNs?? That's just stupid in so many ways.

I'll probably sell some bitcoins right after they hit $1000 for other cryptocoins because there will be a sell off after hitting such a milestone. Then I'll buy some back after the sell off for a net profit in both currencies.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: Shermo on November 15, 2013, 09:56:02 AM

I'm waiting for £20,000 per BTC, I should be able to retire then. If it could happen before 2025 that would be nice as I'd like to retire before 40.

How many btc do you have?

600watt

legendary

Activity: 2338

Merit: 2106

i voted for "will not sell" (for my private stash.)

the btc-1kparty funds will be sold at 1000.

so, yes, 1000 btc will be sold in that moment...

https://bitcointalksearch.org/topic/announcement-the-international-when-bitcoin-reaches-1000-party-285771

https://btc1k.com/‎

chaosknight

hero member

Activity: 868

Merit: 1000

Yes, selling all of them and hopefully buy when it crash....

Shermo

sr. member

Activity: 272

Merit: 250

I'm waiting for £20,000 per BTC, I should be able to retire then. If it could happen before 2025 that would be nice as I'd like to retire before 40.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: Wary on November 14, 2013, 04:36:25 PM

Quote from: BittBurger on November 13, 2013, 04:44:10 PM

Don't forget ......... CAPITAL GAINS !!!!!!!!!!!!!!

Move to New Zealand. It has no capital gains tax.

*moves to NZ just to avoid tax*
am I doing this right?

bitboyben

sr. member

Activity: 330

Merit: 250

By the time I decide to cash out I wont have to because I will be able to buy everything and anything any where in the world for bit-coin directly.

MaxBTC1

newbie

Activity: 56

Merit: 0

Its just a number with weight on it for no reason. If it ever gets there we will see a lot of resistance and a huge wall, but like GOOG recently, once broken it won't stop.

romerun

legendary

Activity: 1078

Merit: 1002

Bitcoin is new, makes sense to hodl.

Once it gets there I can see 10k in the horizon, although I'll cash out a bit to buy a few yachts and personal chefs

Wary

hero member

Activity: 798

Merit: 1000

Who's there?

Quote from: BittBurger on November 13, 2013, 04:44:10 PM

Don't forget ......... CAPITAL GAINS !!!!!!!!!!!!!!

Move to New Zealand. It has no capital gains tax.

aenemic

newbie

Activity: 45

Merit: 0

Some maybe, I dont see a reason to sell a big portion of possibly the coming world currency.

AlgoSwan

sr. member

Activity: 308

Merit: 250

ancap

Quote from: superresistant on November 14, 2013, 11:39:49 AM

You don't get it.

The day Bitcoin is $1000 and more, USD will be worthless.

What's the point of having one million dollars if you can't buy a hamburger with it ? Wipe your ass with it ?

Yeah. This is why we need better instruments for BTC valuation, such as BTC/an ounce of gold or BTC/one acre of land, something can't be created out of thin-air.

reactive4ce

full member

Activity: 129

Merit: 100

Quote from: Ibian on November 14, 2013, 12:38:20 PM

The dollar will, however, collapse regardless of that.

I agree, why converting all to dollar Huh

Just spend Bitcoins and in case you cant, exchange just the Bitcoin amount you need for buying something with dollar.

Holding dollar is pretty bad idea

Bitcopia

hero member

Activity: 715

Merit: 500

Quote from: Lauda on November 14, 2013, 01:13:42 PM

Quote from: Ibian on November 14, 2013, 12:38:20 PM

Tenfold yearly increase. 1k is nada.

The dollar will, however, collapse regardless of that. Around 2020 most likely.

So sell into USD then exchange into EUR in 2019.

EUR will collapse before USD.

Bitcopia

hero member

Activity: 715

Merit: 500

Quote from: BittBurger on November 13, 2013, 04:44:10 PM

Don't forget .........

CAPITAL GAINS !!!!!!!!!!!!!!

If a dude is holding 350 bitcoins and makes $350,000 ......

Some such dudes are going to have to give $100,000 of it to the government "just because" ....

Maybe the correct question is, how many people are applying for citizenship in Germany right now?

For this reason, along with supporting the ecosystem, I will never cash out. I will buy things with my bitcoins and continue to save the rest.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: Ibian on November 14, 2013, 12:38:20 PM

Tenfold yearly increase. 1k is nada.

The dollar will, however, collapse regardless of that. Around 2020 most likely.

So sell into USD then exchange into EUR in 2019.

hacknoid

sr. member

Activity: 418

Merit: 252

Proud Canuck

Quote from: mgio on November 14, 2013, 12:46:45 PM

Quote from: hacknoid on November 14, 2013, 10:02:14 AM

Quote from: BittBurger on November 13, 2013, 04:44:10 PM

Don't forget .........

CAPITAL GAINS !!!!!!!!!!!!!!

If a dude is holding 350 bitcoins and makes $350,000 ......

Some such dudes are going to have to give $100,000 of it to the government "just because" ....

Maybe the correct question is, how many people are applying for citizenship in Germany right now?

I'm surprised nobody has qualified the "cash out" option with a date - does it really makes sense to cash out for a bunch of fiat right before the end of the year, when you would have to claim it as income only a few months later? Why not wait until January at least so that you have over a year before you have to claim anything for taxes?

If you want to put it as fiat at least maybe you could invest the portion needed to pay taxes for the year interim and lessen the impact. But maybe that's just me... Cheesy

In the US I believe you might need to pay quarterly estimated tax on capital gains. If you don't you could be hit with a penalty when you go to file your taxes for that year.

Hmmm.... interesting - I didn't know that. In Canada you have the option to pay the tax quarterly if you want to avoid the one big hit year end, but it's not required.

Topic: Will You Sell when BTC Hits $1,000? - page 5. (Read 9749 times)