Bitcoin Forum

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) :)

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 :P

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.

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.

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 do not expexct bitcoin to reach the price of 5000$ sooner than in next 10 years. So yes, sold out,
Where's my money?  ;D

Yes, I will hold a portfolio of alts, or a fungible forward contract.  All human systems are gamed.

This is stupid. Reality doesn't work like that. Bitcoin doesn't work like that.

It is in the speculation forum and the guy clearly said it's just a hypothetical and time passing question. 

Yes, in a heartbeat. The OP doesn't specify that other cryptos can't be held, only bitcoin.
So I'd sell and buy litecoin or even that stupid joke of dogecoin (in a large dip, of course).

I really think it's a question of size.  If you have a small number of coins that don't make up a major portion of your net worth maybe you want to hold.  If however you have 8,000 BTC I mean, and you don't have many millions of other dollars worth of whatever - or forget the number, if selling what you have at $5,000 would make a major difference in your life financially then I would think you would do it.

+1

I appreciate the replies and turn out on the votes.
Pretty interesting numbers regardless if it is "just for fun"

Either way, thanks for feedback whether this is stupid or not, like I said, just a friendly scenario and game of fun to help me pass time this early morning :). I'm surprised a lot of you are awake or are from the other side of the world. It was 5 AM when I posted this.

Unfortunately, I might do it.


At this rate I'm not sure if we will reach $5k by the end of this year

But it is likely that after this year, we will reach next year.  And a year later, we (most of us) will probably reach the year after that.

I'm a miner so i kinda can't vote unless it would include me selling my hardware, Which i wouldn't so my vote is a no

20, really? Glad to see there's this much optimism still :) Maybe we'll manage another year or two after all.

As for the question, the only possible answer is "no", selling your free will to someone for any amount of money is ridiculous :)

$5000 per BTC is nothing, so no

My answer (NO) actually relies little on the future valuation of bitcoins.

I simply believe their widespread use is inevitable. To never be able to hold (and so, realistically, to use) them again is going to be quite cumbersome at some point down the road. Plus I'd lose the ever-increasing benefits of doing so.

I'd need a lot more than $5000/btc to forgo that. At least enough to create and push another cryptocurrency (that I could hold) to prominence through sheer marketing power. ;D

Where does selling 5% of the stash fits better?

My answer is no.  I think $5K is a little short sighted, a speed bump on the way up to something much higher.  Plus I just want to own, use, and spend bitcoin.  It's a revolution of sorts but still in its infancy.

Also as far as altcoins go, some folks need to realize that their ultimate success (as something other than pure speculation) will depend heavily on how far bitcoin goes in terms of adoption/use.

Yes. If anyone would offer me $5000 per bitcoin, and would buy all I have, I'd do it today.

Heck, if is anyone that would offer me $3000 I'd also do it.

if they would do such a thing, the logical thing to do is hold, at least if enough people hold.

If too few people hold, the government will corner the entire bitcoin market, and just continue with their money printing. And your 'great profit' will soon again be worthless.

I would choose to hodl ofcourse. I can't be sure whether bitcoin will ever surpass $5000 but for me participating in this grand experiment is more important than making some fiat gains. Even if I was offered $20,000 per coin I would tell them to fuck off and keep their dirty fiat.

They will be worth $40,000 each one day, agreed?

No. It could reach that value one day but I wouldn't bet on it.

no

if i was offered 100k however

Okay, so I'm gonna drive at the heart of the question with the following interpretation: I have to convert all of my alts into Bitcoin and cash it all out at $5k a coin right now; additionally, I have to sell all of my mining equipment in BTC and cash that out at $5k a coin and never mine again.

I'd actually have to say yes. With that amount, I could sit work at my current job for 6 more years, let the markets do their thing, and I would hit my retirement goal. And really, that's what I'm striving for.

I would sell them and give the money to my wife to buy 5 times more bitcoins :)

Only if there was a way to max out all my credit cards buying bitcoins first.

With 10K coins it's a great offer.
But you sould convert the USD to some more stable fiat/gold/real estate/hookers.


With 1-100 btc, you don't want to sell, because you stll have to live a miserable life in your mothers basement. Poor GigaCoin.

This dude has the right idea.

Litecoin has so much more room to grow and it has just experienced a downturn, meaning in the near future...

TO DA M00N

I would take the deal.

One of my goals is to pay off my fiat debts in 2014.  $5000/BTC would be more than double what I need to do just that, and leave me with some savings to fall back on.

The catch in such a deal in real world, obviously, would be "either we buy you out or we find some other way to deal with you" and nobody would like the other way, especially from someone powerful enough to be sure you'll never use bitcoins again for the rest of your life ;)

So rethinking my answer, it would be "shoot the guy and run to equador to live under some new identity". That's the only correct answer.

Heck no.  Dumb question.  Crypto is the future.  That's like agreeing to never use a cell phone.

Would hodl.

Sell it all then reinvest in Crypto Marketing Funds.  :P

the wise part of me tells me that I should not be greedy ad take the money.
but no, this is an opportunity of a lifetime.

I'd take 5k then I'd buy gold and silver and maybe a bunch of litecoin, dogecoin, peercoin and look back with no regret

Yes, and I wouldn't look back.

interesting responses. look at all those votes and hodlers!

wouldn't a 100,000x rise in doge price = $150 / DOGE , with 100BILLION Coins do you know how much market cap that would be ?

I think 100,000x is too late at this stage for doge, maybe if u bought it for 1 satoshi in the early days. I can see doge gain up to 100x (approx $0.15 / doge) by end of 2014 but that also would be very difficult to achieve and would require huge investments. Also don't forget DOGE has a very high rate of inflation which means it needs large amounts of money pumped into it constantly to keep prices up.

I wouldn't accept it now but in 2-3 months probably.

A clear no from me.

Not worth the risk, and I'm sure it will go to $5000 before 2014 is over.

Lol!! I'd agree to never use a cell phone again for 500BTC :) I could get by just fine with a land line thanks...

It really depends on how many bitcoins one is holding now. If one holds 1,000,000BTC now, obviously he should sell all at $5000 for 5 billion. I one is holding 0.01BTC now, there is no reason to give up the opportunity to acquire more bitcoin just for $50.

Yo dawg i hear you like coins, so i made a dawg coin.