Why buy that much fiat all at once? Why not just buy as much as you need as you go along.
I'd rather be retired with as much Bitcoin as possible growing in cold storage far more than a bunch of crumbling dollars in some bank account.
If you need to buy a new car, or some real estate, or simply some cash to party with, by all means spend some coins as need be.
Otherwise it makes more sense to just continue holding.
What if Bitcoin implodes and goes down to zero? What then? I think his approach is smarter, as he is guaranteed to enjoy the rest of his life with his $2m, even if Bitcoin disappears. And he is still left with more than 600 BTC for the future. What if the dollar implodes and goes down to zero? It's probably as likely as Bitcoin imploding and going to zero, although both are extremely unlikely. I can see hedging your bet by spending some coins on appreciating assets like businesses, land, or other means of production. Fiat currency doesn't appreciate. It's a depreciating asset. I do hope you're right about Bitcoin going to zero being extremely unlikely. If Bitcoin's value keeps increasing, then it's obvious that your strategy makes the most sense and guarantees maximum profitability, and also low to zero taxation for those of us with modest needs, as the conversion to fiat can be kept to a minimum and only when needed. Also, converting large amounts of BTC to fiat has its own problems. Do we trust the banks to hold our fiat? What if there's a bail-in, as it has already happened in Cyprus? Then there's the depreciation of fiat due to inflation. All these are valid reasons not to liquidate, and follow your strategy, provided Bitcoin keeps rising (or, at least, not dropping) in value. I hope Bitcoin has a bright future, but no one can know for sure, hence my conservative reply to BobLawblaw's post. Indeed, there's a risk with everything. Even land can become unusable under certain circumstances. Banks can default and businesses can fail. Risk reduction through diversification is a good thing. Fiat currency is just something I choose not to invest too much into. _______ When I finally spend some of my hard-earned Bitcoin, I plan on buying land and and new implanted teeth and paying off what the taxman thinks I owe them. That would total more than what I spent to acquire all my coins. Then my entire stash would be gravy. That might be as early as January. I've already arranged to buy the land with Bitcoin. I'm hoping the dental tourism clinic will accept Bitcoin as well. That just leaves the Canada Revenue Agency to be paid in dollars, so I guess I'll have to buy enough to pay them.   #bitcoin dentist weeeeeeeeeeeeeeeee |
|
|
|
What is the standard Lamborghini that people put in their portfolios? The LP500S is a great car, but kind of rare-ish and wonky. Would the Diablo be a standard unit of measurement, or something else? My quick research shows two current production models: Huracan and Aventador. The others are all older (and thus, no longer brand new.) *edit* seems there's a third one called Centenario, but they only made 20 coupes and 20 roadsters or 40 cars total, all of which have been sold. Lockdown in Transformers: Age of Extinction is a Black or Dark Grey 2013 Aventador. I'm thinking the Huracan, even the base model (as that's the lowest priced) is a good place to start. It's still at least 250k USD. weeeee BapeLambo ===>>>>>  |
|
|
|
just hooked up my old asicminer block erupter USB sticks and started running them again. pretty sure i won't make a cent, but screw it. course two hubs seemed to have died on me... 13 sticks not running.  this, of course, means the price will tank. Indeed. People are sending me A6's for repair. Actually pretty nice little miners, quiet and respectable. $7500 a bitcoin is just.... wow. C bitcoin pump will begin soon ~ it's still early time to buy before $1O,OOO//^ weeee |
|
|
|
Its getting into nice accelerating parabolic phase.  any shorts attempts can get margin called quickly accelerating it further. This beast can still move up thousands of dollars within few days or "correct" from here. Its hard to guess,but my bet is its going to get close to 10k at least -because parabolas dont usually end with long sideways move or slow retrace.. Any outcome will be interesting for sure  soon>.>~$12,OOO per trusted sources weeee |
|
|
|
For the first time ever, bitcoin is now looking like a bubble to me as well. Its value shouldn't have been like this till at least the start of next year. $7500 in 2017? We're in a little bubble now, I guess. I'm expecting some bad news now actually, pushing its value back to $5000...  correcting UP^ bitcoin new target>.>$12,OOOx$15,OOO+ confirmed!! #trusted_legendary |
|
|
|
i lost all my money day after day.......... hold or not hold that is the question??!! yes weeeeeeeeeeeeeeee weeeeeeeeeeeee can ............
contract seyz 10,000 satoshi so weee will runnn++ #spaceshuttlezzz #1337 Could we hit 10-20K coming days ?? any minute ~ after the fork we go x10 weeeeee gembitz you say *10 after hard fork but if the price is 50 satochi in december *10 will be 50 satochi*10 =500 satochiiiiiiiiii weeeeeeeeeeeeeeeeee lost o lot of money soooooooooo yes weeeeeeeeeeeeeeeeeee can...... Charlie Lee, FluffyPony & Vitalik are all fighting on who gets to take over ole' /\EMC2 #popcorn |
|
|
|
Though the article is in Chinese, it is interesting in that it includes the latest interviews from Jihan Wu of Bitmain and Samson Mow of Blockstream. http://www.bitcoin86.com/news/17847.htmlSomething that I find interesting in that interview, various rumors that are denied by Jihan Wu, 1) Jihan Wu is an investor in Bithumb of South Korea (you know, where they are trading 1.5 ~ 2 million BCH at USD$1 billion volume PER DAY). 2) Bitmain's revenue is over USD$1 billion per year. They made over $150 million profit (1 billiion CNY) in 1st half of 2017, with profit likely much higher in the 2nd half. 3) There are uncertainty concerning future China govt policy towards crypto. They had tense relationship with some of local govt, like in Xinjiang and their Yunnan facility actually had to stop operation after electricity was cut off. 4) Jihan is going to enforce NYA in the upcoming S2X fork. But also recognizes that he got significant hashrate from other miners and thus had to take profitability into account. But unlike BTC.TOP and VIABTC pool, he did not come out and say that he is going to offer miners the option of mining both Segwit chain. ~don't you read chinese newspapers? :-D lol |
|
|
|
i lost all my money day after day.......... hold or not hold that is the question??!! yes weeeeeeeeeeeeeeee weeeeeeeeeeeee can ............
contract seyz 10,000 satoshi so weee will runnn++ #spaceshuttlezzz #1337 Could we hit 10-20K coming days ?? any minute ~ after the fork we go x10 weeeeee |
|
|
|
I see you bumbling imbeciles haff not yet completed vave 5.
tick, tock,...  What the fuck?  NOW I am getting ANGRY!!!! - (a little dramatic effect should not hurt, here)... You mean that after all of this discussion of "wave 5", we have not even arrived at it yet?  I am really ANGRY, if you cannot tell... And it is not a "gay" type of mad, either.  $7500 choo choo wee! |
|
|
|
i lost all my money day after day.......... hold or not hold that is the question??!! yes weeeeeeeeeeeeeeee weeeeeeeeeeeee can ............
contract seyz 10,000 satoshi so weee will runnn++ #spaceshuttlezzz #1337 |
|
|
|
TORQUE!!!
<bro fist> Sorry, was away for awhile tending to some things. Btw this is unrelated to my going dark, but for years I had heard the rumors of certain Legendary users being approached by other anonymous users with offers to sell their accounts to them. And even rumors that some had taken them up on it. Well... it's now happened to me too. "Name your price", he said. I find it all amusing. Just know that I am a person of integrity and would never do something like that, no matter what the offer was. Anyone who wants to buy your account intends to impersonate you and do bad things with it. No thanks. legendary sockpuppet icos inkominggg  lol |
|
|
|
Alive and trading
where to trade ? you can trade it on bittrex Its still alive but its been rather in a downward spiral since the burn since the burn? HF is in 34 days http://hfcountdown.emc2.foundation/ #leaked #insider_info x10 bagger ====>> emc2===>weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee eeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee!!  |
|
|
|
Here's a better version of the "Occupy the Moon" image, where the ( BTC) logo is spherically distorted, to match the surface of the Moon.   weeee BTCBTC#kosmonaut_leetz |
|
|
|
Hi all. Is this coin worth to invest some coins and what is the total numbers of coins and total coins in circulation and future development?
Basically, the answer to everything you are asking is here: https://www.emc2.foundation/LitecoinPlatinum(EMC2)*looks like a nice project ~ do you speak Japanese? :-D weeee https://poloniex.com/exchange#btc_emc2 >>>>>>>>>>>>>zoooooooooooooommm!!!!  |
|
|
|
 $8000 close >.> weeeeee BTCBTC #photoshop needed^ "" /\BTC===>to daa mooooon!"":-D |
|
|
|
Ltc used to be 0.02 BTC now it is 0.008 BTC dont know what is happening to LTC and other alts. When they will increase
USD price wise, you wont be in a loss... its just BTC value increasing and people selling ltc to get that value LTC ceo has to go !*^*\\fork///*^*EMC2(litecoin platinum) @ 800 satoshi #radarzzz #spaceshuttlezzz ===> https://poloniex.com/exchange#btc_emc2 |
|
|
|
|
Show Posts
