Bitcoin Forum

...

OK the general gist I read in the $1000 thread was that many (but there was big diversity of actions many would take) would cash-out most of their BTC were it to read $1000.  Maybe re-buy on bounces, etc.

$1000 seems a modest long-term price to me.  I'm not a seller at a measly $1000.

So, what will you do (if you have any left after selling at $1000, $2000, etc.) with any that get to $5000?









I'll sell some along the way to buy gold, most I will HODL!

I would have a similar answer to the $1000 i mean how fast did we get to the thousands and for what reason, if there is no reason i would be one of the unlucky ones that tried to short at 1k and failed lol but i would still have had a good run and to be fair it would take a few attempts to get anywhere near the 5k as you probably know the amount of people unloading before that figure would be crazy. If I had a few left over at 5k 50% of them i would Sell sell sell :)

The price of bitcoin reaching $5,000 is not going to have any long term effect on any kind of long term effect of behavior on bitcoin users. Some may hold onto their bitcoin however the overall network will be the same

Greed is not a good thing.
I have seen people lose their houses in the stock market because they wanted more.
Greed is one of the seven deadly sins.
And there is a reason that it's deadly  ;)

If BTC hits $5000 that means a market cap of over $70 Billion. At that level I suspect we begin to approach a tipping point, especially if any sort of economic crises coincide with the BTC increase. People begin to realize they need to have some BTC "just in case" to diversify away from fiat; and the more people do that, the more the fiat currencies deflate and BTC continues to rise. In which case $5000 may be chump change.

So if it does rise to that level, why would I want to sell my BTC for some fiat? The fiat would be on its way to becoming worthless in a hyperinflationary cycle. Trading in BTC for fiat quickly becoming worthless would be foolish.

This question the OP raises sort of unconsciously presupposes that fiat is "real" money and that BTC is just a vehicle for getting more "real" money. But BTC is just as real money now as fiat, and there is good reason to believe now that BTC will be standing in the future when many fiat currencies have crashed and burned.

...

Shindo1988

I cannot disagree with you there.  I am well aware of the Seven Deadly Sins.  Not very long ago I had to face them, one-by-one.

Truth be known, I have no need for MOAR.  I just like getting interesting views.  I also like sniffing out people's logic in getting to $1000 or even $5000.  Hey, I have no idea.

$5000 @ would be nice though.  

*   *   *

That would be enough to consider giving very careful thought to properly giving something away.  Charitable giving is a big & complicated subject.  Many gifts wind up causing more damage than good.

-- Building a small wing of a hospital in rural Peru?

-- Funding Geology Scholarships at Peruvian universities?

(I use the above two examples form Peru because A LOT more can be done down there than up here)

I am guessing "up here" means the U.S. right?
If that's is the case then I doubt much can be done up there, no matter how much money you have - That government  ::)
In Peru - though I can't say I have much knowledge of - you can probably make wonders.

we wuld for sure get rid of many weak hand at 1000 or many holder, so at 5k only true believer will remain, anyway i'm planning to sell only if i need the money, no matter the price

i love too much my bitcoin, i see them not only as a coin anymore

I am not sure if I want to know the answer to that, but I will go ahead and ask anyway.
How else do you see your coins?

hodling until at least $20kish. I mean the PV of 20k USD. Not if USD suddenly goes into hyperinflation or something.

Same answer, sell after double peak. I sold at $940 in the last bubble, and in the next bubble I will wait till I see the clear sign. Personally I think in the next bubble it may go to $3k but not $5k.

i'm emotionally attached to them like they are mini pet or something lol, i like to use those everytime and i will always consider to hold a few

Rule number one if there are any rules never become emotionally attached to any investment. OP it would be a shame but have to be honest and say I would not have any coins left by the time it got to 5k :( I say that I may have one or two but plans and what you think you will do goes out the window when the time comes. Usually.

i'm attached in the sense that i don't want to convert them into dirty fiat... and because of this i'm not here to dump all my bitcoin at the correct price, i'm here to wait for the right time to use them without the need to dump for fiat, the point of bitcoin is to not use fiat anymore, at least this is how i want it to be

so a 5k price can only trigger a small(say 50% at best) dump from my hands

Exactly my point because of your emotional attachment you will miss out on the mini bubbles which there will be many all the way to a 'possible' 5k which is unlikely to say the least. Take my hat of to you holding like a warrior :) Wish I could I have a trigger finger though.

I dont have 1 full Bitcoin yet. However, if Bitcoin price reach $1000, I wont be selling it. Not because I want to sell at $5000 but.. I dont have paypal and I use Bitcoin as a form of money.

Hopefully until then I'll have enough BTC to buy a house. And yeah, I'll spend...though where 5000$ was reached, 50k$ is not that far.

like most people i would sell like 20-50% and the rest i will hold it for a very long time. better safe than sorry. don't want to stay behind when it reaches a few $k

Of course 1000 is modest. It's already been that value before and bitcoin is getting bigger every week in terms of adoption, though I am surprise it hasn't gone to anywhere near that price again. If we say bitcoin will achieve 1k in two years time then maybe it will be 5k in five years. Just my speculation but things have been moving slow. We need something to give bitcoin a boost.

We're somewhere near the bottom of the longest bear market BTC has ever seen.  Bull Markets in this space don't take nearly as long to launch fireworks.  Might not need to wait 5 years to see 5k.

For it to go up to 1000 i hope there is a real good real reason to it. and provided there is a strong fundamental backing the increase we should be able to judge from there and determine whether it will go up even further. Seriously if it does get to 1000, probably i would probably consider selling a small portion to recoup my investment and the rest leave it there to see how high it can go.

hm, it is possible that bitcoin will gets to 5k$, but there is another question. in this time, what you will be able to buy with 5k btc? gallon of petrol?:)

You can buy everything you want already. No need to wait for $5K which isn't going to happen anyway within a decent amount of years.

Simply get yourself a credit card that convert your btc balance to whatever fiat currency you want.

If it ever got to that point, I`d be buying myself a $200 lapdance/escort/whatever.

Then the next would be paying off bills, and then buying myself a small apartment with all the cash out and buy back in when it drops again.

...

Shindo1988

Yes, I am an American living in the USA.

You are correct that a chunk of money can go a long way in a developing country.  Our family's attorney has suggested that we could indeed "get more bang for the buck" by doing something like adding a small wing to a rural hospital in places like Peru (many others too).  Although Peru is not as much of a bargain as it used to be.

Giving money away to a worthy cause turns out to be difficult.  It is hard to know that your money does any good.  Or gets stolen or misused.

Also, beware the charity.  Ah, The Gates Foundation may be objectionable to many...  They say many good things, but are alleged to have "another agenda", but since I do not KNOW that, I just use that as an example of doing due diligence before making a big contribution (like in your Last Will or something).

I think we have to wait for minimum 3 years as now its jumping may be before 3 years its can touch this figure.
the applications of BTC are increasing rather than decreasing and number of coins mined daily are also decreasing, it's likely that it will remain here and high priced.

5k is reachable(in theory) with this halving, it would be a x25 increase, which isn't something that never happened(i remember something alike in 2011), the next halving should bring even more power to the bitcoin price

buy my house.

i'm in the same way ... from 2012 to 2015, bitcoin value (stable, so the maw low value) reach from 0 to 200 USD.

and when you see what append if BTC take much more than 800 USD in the newspapers, it's easy to project the value over 500 USD stable in 2018.

I would leave it as BTC. Chances are if it goes that high it will be widely usable for purchasing things; therefore, no need to cash out. Also, this way you never have to pay capital gains taxes.

@ the OP -

I'd probably sell enough to pay off my mortgage, sell some to invest in some buy to let properties & sell some to have a celebratory holiday or two.
I'd then hodl the remaining 25% or so incase the price rose even more.
I'd never sell everything because if we reached 5000 USD who could say that was the limit?
It could quite easily go to way more & I'd never forgive myself if I sold everything at 5000 if it went to 50000 5-10 years later.
The main rule is never sell completely everything just incase astronomical highs arrive at a later date.

why not 10 000$ ?

first off all, it would be awesome news for bitcoin because it's price never was so high, and  i don't think that it may be bad for bitcoin because even if people will sell their bitcoins, there will be buyers anyway, and more stores would accept bitcoin finally, so only a good things if bitcoin would be so high

first of all, i don't think that it will happen anytime soon, will take few years atleast, 5000$ is huge price

and second, price would fall instantly, because i, and probably almost every bitcoin user, would sell their coins, so price will fall down

but anyway, would be awesome to see 5000$

It will be so good. But you never know what can happen later of course in the future and that is quite risky.
But I dont think that is possible. Because it is a very high value and you can see now that it is rising very very slowly.