There really is no reason to "cash out". If you want to pay for something (goods, services, paying off debt) and you can't using BTC then selling enough BTC to pay for it indirectly is an option.
I have had my eye on a boat for a while. I doubt many boat dealers will be taking Bitcoins anytime soon. If the exchange rate went up enough I would gladly sell some of my coins to buy the boat I wanted. To cash out just to hold cash? I wouldn't do that at $1M, $100M $1B, $1T. Why? To hold paper which becomes worth less and less every year.
I would prefer to buy assets directly (BTC -> asset) but if I can't indirectly works too (BTC -> USD -> asset).
This. +1 I'll "cash out" enough to pay off my mortgage when I can. Then I'll buy a "yacht" (sailboat with a cabin - most people think yachts are big, but a yacht can be small as long as it has a head (bathroom), berth (bed), and galley (kitchen area)) - a lot of 25 foot boats fit this bill, and would fit me well here on small lakes in the middle of the country)  |
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Bitcoin frees you from debt, why would you ever want to sell it back for debt-based money?
Bills? mortgages? other shit they wanna buy that doesn't accept bitcoins yet? |
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Why are people selling?
Are they stoopid?
People sell for different reasons. If I was going to lose my house, and selling all my bitcoins would prevent that, I'd do it in a heart-beat. |
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I predict somewhere in the range of $0 and $1,000,000,000,000,000,000,000,000 per bitcoin.
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Crap I didn't mean to hijack your thread, Amagimetals. But since you sell silver, maybe you guys should try it. |
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I see you are selling my new favorite silver pieces, the .45 Silver Bullet Round.Will you also be selling the boxes of ten with certificate of authenticity as in the photo below?  Will those actually fire? I was debating creating some real silver bullets, but like a normal brass casing with powder and primer, but the actual payload itself being pure silver. I figure in a societal collapse, it could be traded as both bullets and silver. I'm trying to decide what the "value", per se, would be - as in would you trade it as a normal bullet, or would the purchaser see the value of the silver in it as well, and trade knowing that it would fire if they really needed it to, but maybe keep using it as silver instead. I would then create different sized calibers (center-fire), from .223 all the way up to .45 Long Colt (maybe the .454 Casull). Maybe even shotgun with the balls of shot being silver, too (but normal plastic casing). If anyone wants to beat me to that idea, that's fine, just send one my way as a nod of thanks for the awesome idea. |
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I'm still not breathing; bought in at 138.  Relax, you're not the first to buy in at or near a short-term peak. Long term, you'll be fine. This. I'm actually going to start putting some (not all) of my 401k allocation into bitcoins. I'll purchase each payday, and that might mean purchasing at new highs. But I also know that these "new highs" will net me awesome gains down the road (much better than my 401k ever will). |
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This is what ONE trillion dollars looks like, imagine 32 of these:  That'd be a fun time at the strip club! |
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Can litecoin be mined on top/beside bitcoin with the same hardware, without harming the bitcoin hashrate?
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I wonder if the aim of some is to spread FUD at such a time simply to keep the new joiners to the cryptoworld in the dark and missinformed. But we all entitled to our own opinions i suppose.
This couldn't be further from the truth, my question was why keep throwing all these alt-coins in to the public (instead of keeping them here on these boards for mental masturbation and theoretical talk) since the public is what we want to legitimize, and the more options(?) they see, the more confusing and convoluted this whole thing (which is already confusing and convoluted to the general public) becomes. |
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Well I'm annoyed, I guess, because at a time where we should be pulling together, some asshat in a forum will pull out "litecoin" and then people get more confused. I guess I'm looking for some information so that I can respond and retort in threads when that happens.
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yeah I wondered if it was one of those folks who missed out on the early days of CPU mining... like me. But rather than worrying about a competing coin, I pulled myself up by the bootstraps and embraced that we were (are?) still in the early adoption phase. So are the people still into litecoin trading hoping that it'll take off? Can it be mined in conjunction with (beside/on top) of my bitcoin mining w/out harming my bitcoin hash rate? If so I might mine it to trade for bitcoin, but that'd be the only reason. |
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So I realize there are some other forks of bitcoin, but I occasionally see people trying to throw litecoin into a bitcoin conversation with the public, and that only further confuses folks away from getting into bitcoin. I think if we want any of these to "win" (as in go mainstream), I think we should just focus on the one (bitcoin).
Also, some of my own minor ignorance, but why litecoin? What purpose does it serve, right now, other than seemingly a competing coin?
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This is pretty kick-ass, and a step in the right direction! Anyway, if you live in the Kansas City area, and you're looking for a Jeep, you might give these guys a try. http://www.overlandparkjeepdodge.net/index.htm Even though I'm not in the market for a car, this is awesome news! |
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yeah I'm feeling sellers' remorse, but it's hindsight 20/20. When most of us sold stuff, we had no idea what would happen, so don't feel too bad. Remember that dude who bought 2 pizzas for 10,000 coins? My worst bitcoin decision might be pre-ordering a couple Jalapeņos from Butterfly Labs. Coins were approx $12ea when I pre-ordered, and now my coins are locked up there not doing anyone (but BFL) any good. Refunding is done in dollars, so if I want a refund, my 26 coins that went to that would end up being approx 1.3.  |
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Would you consider reselling these combi-bars, or something similar to them? Basically a large bar partitioned up into smaller 1 gram bars that are easily broken off (say in a societal collapse where paper money is worth nothing). http://www.combibar.comI think it's a cool concept, and while I'm not in the market for them at this moment, I will be soon if btc prices keep going up the way that they are. |
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These are kind of a cool concept, and I was wondering if anyone knows of a site that sells them (or similar product, either gold or silver) for bitcoins? http://www.combibar.com |
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most of us are mad we didn't put more disposable income wasted on crap like video games into bitcoin.
This. |
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Even for a bull like myself, who's in dreamland right now and seriously considering selling just because I don't really know how am I going to play out the transfer of my money back to my accounts, this is plain insanity.
I have never seen this kind of sustained growth in any financial tool... not in commodities ( I used to trade coffee and OJ), not in silver/dollar much less in stocks minus some penny stocks that shouldn't be counted (Hello Granny Mae!!!)
Although many people call this a bubble, while I call it a correction, there is no doubt that there's a lot of speculation and people buying coins to hoard them and to speculate the price will continue to rise. I just cannot believe how the price has gone from $101, (on April 2nd at 6:43:15 GMT) when I bought 0.5 using money from a relative and I only bought 0.5 because I was somewhat skeptical and I was waiting for a small dip to get in, to a whooping $136 in about 24hrs!!!
That is just plain ridiculous and sorry if I sound like a moronic bear but it's insane to think differently about it.
So, where do we go from here? when are we hitting $200?
I read other posts about hittin $1000 this year and I was skeptical about it, but who's to say it isn't possible?
Maybe convert some of your bitcoins into gold and silver bars so you don't have to worry about it getting transferred back into your bank accounts (yet) http://www.coinabul.com |
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you dont understand the word growth my friend
people put their money, enforcing this growth
Thank you for highlighting how utterly uninformed you are. Yes, people are pumping money into Bitcoin for the simple reason that they hope to cash out at a higher price = speculation. That is not sustainable, that is basically a Ponzi Pyramid scheme. The only way Bitcoin can be successful is if there is REAL trade going on. That is, people are buying goods and services with their bitcoins, and unfortunately that market is still relatively small in comparison to the recent price jumps. Yes that market is growing and yes the value of Bitcoins is going to grow, just not at this ridiculous rate. I don't think that's necessarily the case for everyone. I think a lot of people saw what happened in Cyprus where people's money just suddenly disappeared. That and the crap that happened here in the US in 2008 where again, people's money and savings just vanished overnight. The lack of confidence in the banks, and the seemingly interesting concept of bitcoin has folks transferring money over, for whatever reason. Savings? Use for purchases? Speculation? I think it's all three. |
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