Bitcoin Forum

I didn't add the option to cash out partially because i want to know how many people are bailing at $1,000.  

I know most people will cash out partially...

Its honestly the most difficult question on earth right now for me.  Its obvious as we approach $500 that this is going to be an issue on the table for all of us.

How does one look at thousands (hundreds of thousands?) of dollars earned on the most risky investment known to mankind, and not "Grab" it and run?

A large part of such a decision depends on just how many Bitcoins a person has and when they bought them, this will vary greatly giving a very different perspective on the price.

As for myself,someone who got into Bitcoins far too late and own very little, I will of  course be holding and hoping it skyrockets long term.

there is definitely going to be a crash around 1,000k.. i've never seen so many people say they are going cash out (at 1k). there's even a sitewide celebration/party going on.

guess 1,000$ / BTC will have a huge psychological impact.
i predict a lot people to cash out.
the far more important question is, will they get in again as they see price hitting support levels (and rising even higher than 1k)?

Sheesh... that is the wrong question.

The right question is, is the current price of Bitcoin, be it $1000 or $10,000 above it's true market value?

Then act accordingly.

Well since nobody knows the answer to that question, the second question, which we can answer, is how many people will bail at $1,000  :)

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 voted no and Im happy to see the "holds" are leading the "cashouts" at a 4-1 ratio, that bodes well IMO

It seems like there is a clear cycle of people buying holding and selling; once a multiple return on initial investment is made they cashout, and understandably so.

Every time the earlier adopters reach a psychological barrier and cash out a large number of coins, they do so because they see their initial investment reach a pre-determined valuation that is deemed "the number that will lead to happiness or financial freedom or good return on initial investment etc".  

But the fact that these people cash out makes it more interesting for the latecomers and everybody else still holding BTC because the bitcoins get more and more dispersed and broken down into smaller denominations amongst a now larger population, but the BTC are now more valuable and are still in demand.

So for example when the people holding 1000 bitcoins today see it hit $1000 in the future - They cash out to get their hands on $1million. Quite an achievement!

But then there are less people holding 1000 bitcoins as they are dispersed into many different wallets.

Then the people holding 100 BTC wait for the price to hit $10000/BTC so they can cash out and enjoy owning $1million.

This is what is really happening imo.

People hitting their pre determined barrier (initial investment vs risk vs future return) they decide to cash out and now the next wave of investors get involved and the cycle repeats over and over again as the price goes up.

Of course this is happening every second of the day, which is fuelling the rise in value against fiat; people reaching personal goals or limits.

That is perhaps the magic of this system and when is it going to stop? Never?

I love these posts. Will you cash out when it reaches x? Cash out into what? I'm still cashing into BTC because I prefer that over the governments monopoly money. I keep out what I need to live, I don't have any expenses currently I need to cash out for. Only play with what you can afford to lose.

yeah, capital gains is a killer. i guess selling in-person, bit by bit may be an option to cover paper trails.

Right now I am selling about 20% of my coins I earn from my shop thread every 5-7 days. I did a large cash out already, so I won't be doing any big cashout any time soon again.

I would prefer never to have to cash out... I'd rather have services pop up so that I can purchase things with my BTC directly.
Maaaybe (but just maybe) I'll cash out my initial investment when 1 BTC is valued at that price, just to "freeroll" the rest of the way.. but not even that's certain.

I mean... I don't see bitcoin as a "get rich quick" scheme or a ponzi that I buy into to eventually get out before the ship sinks. I see it as a potential future disruptive technology.. in which case.. why would I ever cash out?

One could claim that they sold at a lost, and offer up Hitler videos as proof. And, if it goes to trial...

Judge: Court will take a 30 minute recess, for I just pissed my robe.

If the price of Bitcoin ever gets that high that's when hyperinflation will have finally hit.

I'll sell some when I need/want the USD I'll get in return if I can't just spend it directly.  I don't have a specific exchange rate target.

actually, the number is $100,00 maximum. it's assuming that you got your 350 bitcoins at or near "free." since there is no way to prove how much you paid for your bitcoins, it would make for a huge mess for IRS purposes.

So like the 100$ mark?
http://bitcoincharts.com/charts/mtgoxUSD#igDailyzczsg2013-01-01zeg2013-04-18ztgSzm1g10zm2g25

I will cash 1BTC and spend it frivolously. And cling to the rest tenaciously.

If you really do make a ton of money with Bitcoin as an American, you should move for a year to the Emirates where all forms of personal income, salaries, capital gains are tax free.

We are almost half way there.

No, I wouldn't sell mine.

I will mine & hold forever! ...or at least until 10.000$

Since Bitcoin is not regulated no Government can prove that you made any amount from selling your Bitcoins. So it is a capital gain? No.

Secondly if you live in the United States it's the income tax law is illegal as only about half the states maybe even less signed the bill. So before you get on about any of this just make sure you have verified that there is a law in your city or town that says "you must pay income tax" and not some rule that the IRS has made up.

And what if in 5 years it hits $500k, you will probably wish you hadn't cashed in!

Yes, ill sell 5 and buy myself a brietling. 

5 And then wait for the mega crash and buy 10 more XD
Also FU options but staying around partial fun for all the vets at 1000 newbies will be eating our btc
But for speculation purposes goes with all cash out too :P
If I lose that round well it wasn't that bad of a cashout but then I can go to
My number one regret in bitcoin thread and post
Sold all my bitcoins at 1000  XD

I think I'll hold till my bitcoin can pay for the downpayment of a flat.  ;D

Good point.

The price of Bitcoin increases as adoption of it grows more widespread.

So, when it does reach $1,000 or $10,000, at that point you can probably buy whatever you want with it that you could with cash


:D

What a world.

What makes you feel that the party will lead to a huge cashout?

I'll pay two XBT for the party, and cash in maybe two additional for travel arrangements. The rest (feeble though they'll be) I'll hold onto so I'll be able to take part in the XBT=$2500USD party (currently unannounced, though perhaps not that far off).

I made the mistake of selling some at $99 thinking that it would crash to under $95 so I could make a little bit of money.

It kept going and I had to buy back in around $110.

We will likely hit $1,000 some time around Thanksgiving.

80% Say NOT Sel!  ;D

Answer is how i feel in open this topic true

Don't make the same mistake again.

Not a chance

I want more,more,more

it is hard to hold when you know it should be worth at least $10,000 but you have to wait several years.  i'd like a bitcoin amnesia pill so i can forget ever having bought them

how well has this defense worked out for others in the courtroom so far?

Didn't vote. I'm definitely not targeting $1/minicoin as an exit point, but that far ahead, it's possible that I'll have a sudden need for an infusion of national currency due to IRL factors along the way (which would sap, but not totally deplete, my wallet).

i find that doubtful. it would have to go up $42.80/day to hit $1,000. the boom happened already, i see the price stabilizing a bit more within the next 2 weeks. unless there's a gamechanger or some new news that is.

If more bitcoin demands are comming in, it may be possible.  I locked some coins away.  I'll check on it in 2-3 years!

Hopefully by then a sweat story, instead of just a piece of paper with no value

The higher the price, the less the necessity to cash out large amount of coins, so the coin supply on the market will continuously shrink, thus create more upside potential

The deflationary melt-up.

I suspect more people still frame btc value to fiat value instead of the other way around. The fight for $1,000 will be monumental.

Thinking too small.

The price itself is not relevant as such. There is noting magical about 133, 266, 1000 or 2383. What matters is how many people want to own bitcoin. That's all.

I'll never sell my BTCs to any fiat paper. Never!

Land, precious metals? Maybe.

+1

My answer is no, but will it happen?

I'll buy a boat once I can do so with 10% of my coins. But I will not cash out since my wonderful socialist utopia state would take half. Instead I will take a loan with as low monthly payment as possible so as to keep taxation low, assuming the price is still skyrocketing at that point.

Not for dollars. I'll probably purchase something nice.

No, I'm never going to cash out completely. Why would I cash out anyways when the price is rising exponentially with no signs of slowing?

I will but only 50% of what I had..

When the rise of the $US/BTC exchange rate causes my portfolio to be too out of balance then I will diversify.

I took ~1% of my net worth, $10K US, in at an average basis of $100/BTC.  If/when the exchange rate passes through $1,000/BTC (assuming everything else holds still) then it will be over 9% of my net worth.

The question is always, "What are my needs and wants?"  If a need or want exists then will I use some of my Bitcoin or other assets to fulfill it?

Since my BTCs is my retirement fund, I only plan dumping fiat into bitcoin during the next few years.


P.S. There is nothing magical in $1k/BTC - it's just 2.5-fold of current price.
P.P.S. When I retire, I expect buying Manhattan for 24 BTC and return it to indigenous people ripped off many years ago.

Haha wow what a great idea!  ;D

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...  :D

Because at the end of the year you know how much you can cash out without affecting your tax bracket.

Just to fellow Americans, you may want to consider this "EXTREMELY BAD" tax advice, and may want to visit a local tax professional for better information.

Maybe they've learned from those who cashed out at $50, $100, $200, $250, $300, $400.

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 ?

I disagree. $1000 may be reached within a couple of weeks -- exponential growth! I don't think by then the USD will suddenly collapse.

Well I really hope you are right then.

Tenfold yearly increase. 1k is nada.

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

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.

So sell into USD then exchange into EUR in 2019.

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.

EUR will collapse before USD.

I agree, why converting all to dollar  ???
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

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.

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

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

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

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.

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.

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

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.

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

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://bitcointalk.org/index.php?topic=285771.0

https://btc1k.com/‎

How many btc do you have?

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.

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

I buy FTC, because its shiny.

What if it becomes rusty?

depends.

i have 1 BTC which i dont plan to spend in the next 5 years at least

but if get the chance to buy in at a flashcrash, i would sell them again at 1000
and by that having pays my next 2 college semesters and wont need to work for that  ;D

ill throw it away.

i only like it because its shiny

I'd recommend getting at least 4 more.

4 wont be possible unless we drop to 125€
but i would fully invest the 500€ i have on a good opportunity

$2000 is pocket money, at least for me.

http://www.youtube.com/watch?v=MUiPzADsGeE

http://www.overloadit.com/wp-content/uploads/2013/01/its-something.jpg
It's better to have $20 than $0.  :P

I might sell some at $500 tbh

if it hits a 1000 sell sell sell  ;D

I couldn't vote because I wouldn't cash out entirely or hold onto everything.   The other thing is that it depends on how many bitcoins I have at that time.  Currently I have around 1.25 so I wouldn't want to give them all up.  But I'd probably consider selling the .25 for $250.

and for me its 1 year of college fees  ;D

For me it's 4.7 coins

For me it's launch money.

we have already understood that you are rich  ::)

If i only was..rich enough.  :D

just hold some more years   ;)

Rich get richer, poor get poorer... Should be easy in your shoes.

On topic, I would cash out countless times between 500 and 1000. I treat BTC as income source rather than investment. Bills are killing me :(

looks like people will be keeping the balance i find that very dedicated to btc
Looks like we got a great community

I would probably sell 30% of my bitcoins and keep the rest

You're spot on when you say this is a difficult question to answer, at least for me. The way I look at it, Bitcoin is similar to cash. The global M0 supply (physical currency) is valued at around $5-ish trillion...if Bitcoin can capture even 0.5% of that market, Bitcoin would be worth a bit over $1,190 per coin (spread over 21 million total coins). That's fairly substantial by any means, but by then you have to ask the question, "Will it peak at 0.5%"?

There are a lot of barriers to entry for Bitcoin, at least speaking to the need to have a computer (or computational device such as a smart phone, tablet, etc), know what encryption is, what an address is, how it operates, and how to keep your coins safe. That's a lot more to handle than the average person is will to take on (in today's technological environment).
I certainly see Bitcoin reaching $1,000+, though it may take 5-10 years to get there and stabilize.

You obviously haven't invested at all/maybe small amounts in life.
I see no reason to get my (example) $100,000 when it will be $200,000 in the near future.

Yes, I am going to sell once it hit $1000...

I'll sell 1 or 2 BTC to buy new PC!
 ;D

If there are 7,000,000,000,000 people and all get in when we mined all coins then we will be sharing 1 BTC with 333 people.
That would mean that if every average joe has $10000 in cash now and we would go full-bitcoin a coin could become $3.3M.
So $100.000 a coin could be possible in the near future.

and when its 200.000 you think "why not at 400.000"
or 800.000
or 2M

or... oh, its 10$ again

People are too greedy.
but it won't reach $10.

Seriously?

BTC has gone up over 1500% in 2013. If it does not go to zero/close to zero, a single 100% rise within the next year at least is hugely likely.

You seem to have missed the last part of my sentence, even with the emphasis.

Massive growth this year isn't indicative of a trend, and I agree that we will hit $1,000 *way* before 2018. But how many people do you think would sell at $1,000? I'm not talking about us on the forums, I'm talking about the normal people that are getting interested in Bitcoin now while the value is $400, or the big investors / investment funds who bought in at $100-200. For them to see massive xxx% short-term returns on their investment (compared to normal securities markets), I'm betting they'll dump quite a bit. It's more than enough to drive the price back under $1,000...and we all know how finicky people can be when they start seeing the market drop...

There are dozens of factors at play here that you may not be giving credit to. Stability takes time.

this is just fascinating. I can't remember when i was so interested in the outcome of something......

I am sitting here with popcorn, glued to my screen!

this poll is amazing.

I still maintain that 2.5% of users cashing out will drop the price 66% (roughly).

so 12.8% of users cashing out simultaneously will drop the price to close to 99%

I am literally sitting on the edge of my seat here waiting to see what happens next, its amazing! never seen anything move as erratically as bitcoin.

Bitcoin basically moves up and down at approx 50x the speed of any other currency , future or commodity I have traded. It's just nuts.

But you grossly underestimate the desire of bitcoin users to cash out. You compare it to other things you've traded. But everything you've traded (maybe with the except of precious metals to a small degree) has no emotional ties to the commodity. Bitcoin users do not want to "cash out". A few of the traders do, but the % of over owners/users do not want to cash out their bitcions at all.

The owners of BTC are overwhelming loyal to and emotionally invested in the OWNERSHIP of their coins.

So this big crash you a predicting back to <$70 is NEVER going to happen. Not unless there is some major major fundamental issue with Bitcoin that causes mass community doubt of the viability of the coin.  And the longer BTC exists, the longer the eco-system grows, the longer big money gets more and more involved, the less and less likely that scenario is.

I used the poll numbers at the top of this thread?

so I am not estimating or underestimating anything, the number is right there - it is you who is estimating.

whether or not the poll number is meaningless, and what size positions those who want to sell have, is a different discussion.

Also I have no buy orders in at all, no money on exchanges at all. So if it dipped down to $70 and went back up to $700 I would make nothing. So to me at this point it makes no difference whether it goes up to $2000 or down to $5, I have no skin in the game. But I still find it completely fascinating.

the only problem with this is you are betting on everyone on earth, well the fundamental problem with that is all seven trillion people do not own a computer, all 7T do not have a home, all 7T are not employed .....US or otherwise. other countries have unemployment rates at 80%+. some people are starving. and you think that they are going to go buy a magical bitcoin that is not tangible. well i think that there are way to many slums and poor for you to count them into your pool. and out of all the middle class people that can afford them most would not buy them just because they just dont know enough about computers and cryptocurencys etc. out of the ones that would by them i think we are at about 25% of people that will buy them have. yes the price could go up dramatically but do not do the "everyone in the world" thing. that just bugs me. they are starving or living with the most precarious living conditions and have no electricity so how the F would they buy a bitcoin. some people make less then the current price of a bitcoin in a year.

get excited about bitcoins and thats fine but you can not just say 7T people in the world .... imagine if everyone bout one. its just 100% wrong to say that is going to happen.

on the other hand if whales the top 1 percent with 90 % of the wealth get in and they can do some damage.... both up and down.

I used the poll numbers at the top of this thread?

so I am not estimating or underestimating anything, the number is right there - it is you who is estimating.

whether or not the poll number is meaningless, and what size positions those who want to sell have, is a different discussion.

Also I have no buy orders in at all, no money on exchanges at all. So if it dipped down to $70 and went back up to $700 I would make nothing. So to me at this point it makes no difference whether it goes up to $2000 or down to $5, I have no skin in the game. But I still find it completely fascinating.

That's 13% of people on a speculation forum, where most people are traders. So that's the small % of traders I was referring to.

You mentioned in another thread that you had put in buy orders below $70 and $35 I thought. Maybe I misread.

no you didn't misread

Initially I did do that, orders at 70 and 35, but subsequently I changed my mind, cashed out 100% and removed all money from exchanges, and purchased gold silver and platinum (all physical).

Once the crazy chinese have arrived like this, bitcoin's risk profile has gone beyond my comfort level, so I am out. I do not believe for one second that the chinese truly believe in the merits of bitcoin, they are 90+ % speculators.

BTW I agree with you this poll on a speculator sub forum is probably skewed. So +1 for you there. But on the flip side, I can guarantee the speculators accounts on average are way larger than than the non speculators accounts. You don't make a living speculating with 1 BTC.

I am glued to the outcome of this hehe

Why would you sell if it hits $1000? If it hits $1000, it can hit $5,000, or $10,000.

Buy and hold till the day you don't "sell" bitcoins anymore. Buy and hold till they ARE money.

news flash bitcoin can be used to buy wtv the fuck you want. in most cases at the click of a button.

it is money, spend it.

Interesting. I disagree-- the price can't be stable at $1,000, ever.

Stability is not entirely, or even mostly a function of market psychology. It is a function of the market cap. As long as seven figure USD buys/sells can shake the market, there will not be stability.

BTC seems to have reached a point whereby whenever there is a mini crash there are investors on standby with purchase orders ready to snap up coins preventing another complete free-fall.

This is what I've been pointing out, it can't crash.

in trading in the last few years regarding to the US financial markets, this is what is known as BTFD  - buy the f*cking dip

this is because the fed always pumps up any decline with new POMO money to send the markets right back up.....

right now bitcoin speculators have also been BTFD - because it has worked every time in the past - until it doesn't. Unlike the US markets there is no FED backstopping bitcoin. So when BTFD eventually doesn't work with bitcoin it will be brutal IMO. You are going to have a big decline, then everyone will BTFD, then instead of rallying there will be an even bigger decline as the new longs bail, plus buy orders pulled as those even lower become skeptical of BTFD and steer clear.

But lets see how it plays out, love it!

Unless you really, really need the money, it would be silly to cash out at $1000 given what appears to be the long-term trend. When it hits $5000+, though, I admit I'll be sorely tempted to sell a small handful.

I wouldn't dump it all at once, since my goverment would find out and i would get charged for tax fraud. I would sell slowly like 2% (0.1BTC) of my stock each month, over severval months. Then hold atleast 50% of my stock in hope of the price increacing even more. :)

Anything can always crash, it depends on the variables at hand.  I am sure of a few events that would inevitably cause bitcoin to be worthless.  However, they are extremely rare to happen as well.

Not with the current buy support, unless we see a 100k dump.

There is no reason to sell all coins, only if you desperately need pay your debts. But then USD/BTC price doesnt matter

Exactly. Besides that I don't see no reason to sell anything.

I find it hard to repatriate any BTC into fiat. Diversifying into PPC, LTC, XRP, EMU ok that I can do.

But going back to FIAT, i mean the gov's can just print and unlimited amount, that makes even XRP's 100 Billion not look so bad.

LMAO. Jesus, I can't decide whether to laugh at your naivete that the government is smart enough to find out every single person's bitcoin balance, or scold you for being such a pussy.

i'll sell half @ /\$10,000!  ;D *please remove the red flares bro~ i will too...deal?

I'm holding for the longest time (http://www.youtube.com/watch?v=NG1qooBzE2w)

Joke aside, probably not before 1BTC/$20k

I think he means government will check his bank account balance and tax the money comming from the exchange.

The more I think about it, the more it makes sense to hold all BTC and never cash out.

In a few years, everything you can buy with fiat you will be able to pay with BTC.

Here's believing!  :D

Why do you feel comparing Bitcoin to stocks is even remotely valid?
I love hearing all these stock guys comment on the various Bitcoin articles, mocking it, and informing everyone what Bitcoin is going to do next.
The best wealth management advisor I know in Southern California recently told me that in 25 years experience, he has never seen anything like this before.
Yet financial guys just *love* to try and smack all their "know how" onto bitcoin, as if there's something to compare it to.
Thus far, every. single. one of them. has been wrong.
I would steer clear of trying to apply any past-known principles of stock trading to the Bitcoin market.
Bitcoin is not a stock.  It is not a commodity.  And the trading that goes on is based on an entirely different premise.

Well possibly, but not most likely in a few years. In 5 to 10 years, yes. Keeping some BTC is preffered, but I'd like to have fiat too.   ;D

I am with Mr. Voorhees.   Only problem is that it is going to take quite some time to
get out of FIAT entirely.

Time to ask this question since it happened
Well that only took a few weeks  :D

http://www.bbc.co.uk/news/technology-25120731

I am happy to say it seems that there was no crash at $1,000 .... outstanding!

So who was enough stupid to sell ?

If I had 100000 BTC I would ... i'm not that lucky :)

Even with 1 million BTC, why would you sell now when you know it is going to 100K in about 2 years.

i sold a bunch at 970, because of the strong resistance at ~1000 :(

I would buy it back asap or wait for a crash but don't expect too much from it. People start to understand the true value of Bitcoin.

My plan was to sell bitcoins for litecoins when btc hit $1000, but the irony is that the opposite happened - the price of litecoin jumped up so fast before btc hit $1000 that I ended up selling litecoin for bitcoin instead.

At least you sold LTC at the top.

I can't understand these people who sold at around $1000.

they may have been wrong or right, but it sure seemed like a lot of people had their mind set on dumping at $1k, which would lead to a mini crash.

You can't crash it due to the strong buy side above 900$.
They are wrong, wait for the ETF.

eh..I sold most around .035, so not quite the top. If they drop to .03, I'll probably buy them all back.

And how does anyone know this exactly? I want to be optimistic too but let's not jinx something good

So, you are saying, miners in total would be making $360,000,000, that is, 360 million dollars each day?  Where would that money be coming from, if they, lets say, try to sell it on exchanges?

I sold all of my "liquid bitcoins" at 650 euros because I bought them for 630 and 650 was at that time an all time high, (just moment before the rise to 800 euro)

I'm waiting for the inevitable drop to buy back some bitcoins before it will rise once again. I just refuse to believe there won't be a crash like 2011 or April, it just jumped from 900 dollar to 1200 almost overnight, peaks like that are usually followed by crashes.

@theguyaboveme the difficulty at the point where bitcoins would be 1 million would likely be so high that no miner would make much bitcoins at all, not even if they invested hundreds of thousands of dollars to buy Petahashes (that is 1000 Terrahashes or 1 million gigahash) worth of mining rigs. And also probably by that time the block reward would either be 0 or close to 0, so the transaction fees will probably be more profitable than mining itself.

Good luck!

All you guys that sell. Get ready to pay 40% income tax in april. IRS dont f%ck around!!!!!!

i believe it's 15% if you've held them for over a year.

I believe it depends on what country you are in, how much you cash out, how long you've held them, and how much other income you earn in the year.  There is no blanket percentage for everyone.

well sure, but generally in the U.S. at least, it's 40% if you have held it for less than a year, and 15% if over. paying capital gains tax on BTC will become a huge mess since it's semi-anonymous and sometimes you can't prove when you purchased it.

It's gonna be a funny day when people abandon money and BTC becomes worthless.

I'll go on record saying that the IRS can blow me. They're not getting my bitcoins. Sorry assholes!  :D

Name/address to prove your badassness or I call shens.

Maybe on $30 000, I want a nice Porsche or Ferrari.  :D