Topic: You are offered $5,000 per bitcoin, but can never hold any again - page 3. (Read 3814 times)
January 29, 2014, 08:58:48 AM
This is stupid. Reality doesn't work like that. Bitcoin doesn't work like that.
January 29, 2014, 08:51:03 AM
Yes, I will hold a portfolio of alts, or a fungible forward contract. All human systems are gamed.
January 29, 2014, 08:48:47 AM
I do not expexct bitcoin to reach the price of 5000$ sooner than in next 10 years. So yes, sold out,
Where's my money?
Where's my money?
January 29, 2014, 08:47:36 AM
For sure I would. I do believe that cryptocurrencies will exist and more importantly the payment network will flourish - but that said, I am not so certain that it will be bitcoin that ultimately holds out. Frankly I think LTC is a better protocol and Ripple an even better evolution of the payment processing network.
I don't particularly think Ripple Labs has it right with XRP - but I do think it's a better network. I think ultimately some currency agnostic blockchain type system will win out.
I don't particularly think Ripple Labs has it right with XRP - but I do think it's a better network. I think ultimately some currency agnostic blockchain type system will win out.
January 29, 2014, 08:44:54 AM
interesting scenario. and maybe even possible: one day some government may decide you have to sell to them in that manner...
i felt tempted but decided to hodl.
i felt tempted but decided to hodl.
January 29, 2014, 08:42:02 AM
Yes. The opportunity cost of not being able to use BTC ever again would be much smaller than the profit.
This does not mean that I'm going to sell all if BTC price does actually reach $5000 at some point of time. It's just what I'd do now.
This does not mean that I'm going to sell all if BTC price does actually reach $5000 at some point of time. It's just what I'd do now.
January 29, 2014, 08:37:22 AM
Can I buy thousands of btc, driving it up to 5k and selling there? I mean, if I could buy a few thousand bitcoins to sell with a gain like that, sure.
I should have added there is a time limit of 24 hours to make your decision. So, essentially you may only purchase x amount of bitcoins depending on the amount of cash you have left in your mtgox/coinbase/btc-e account etc. Then selling it to that mysterious person for $5,000 each.
So to answer your question, if someone offered you $5,000 per coin within 24 hours, you could buy all the bitcoins you could at your exchange and then sell it to him.
However, I wanted to just keep it simple in that, if offered TODAY $5,000 per bitcoin that you CURRENTLY hold, would you sell it? Knowing that you may never buy back in or own any. So, if in 20 years the economy collapses or the USA becomes like Cyprus or Argentina with a highly declining dollar, you would NOT be able to get back into Bitcoin, even if it became $100k per bitcoin. You would be stuck with worthless fiat.
Meh, just bored and trying to pass the morning
January 29, 2014, 08:31:01 AM
Can I buy thousands of btc, driving it up to 5k and selling there? I mean, if I could buy a few thousand bitcoins to sell with a gain like that, sure.
January 29, 2014, 08:29:21 AM
You are offered $5,000 per bitcoin today regardless of the market price, but can never hold or buy any again in the future. Do you do it?
You would also need to sell your entire stash and cannot hide or save any amount at all.
At this point in time, do you accept the 5x gains or do you strongly believe that it will go higher and continue to hold regardless of this offer?
Remember, you cannot buy back in and are banned from owning any bitcoins period (just a for fun scenario)
You would also need to sell your entire stash and cannot hide or save any amount at all.
At this point in time, do you accept the 5x gains or do you strongly believe that it will go higher and continue to hold regardless of this offer?
Remember, you cannot buy back in and are banned from owning any bitcoins period (just a for fun scenario)
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