What are your plans for YOUR BTC if the price rockets in the future?

[MbitSport]

Im fairly new to the bitcoin so forgive me if im wrong in my understanding.
What would be your plans for your Bitcoins if the price per coin rose to 5 or even 10k+ each?


The question dawns on me after thinking about everyone that is saving their BTC for the future.


what happens if everyone that has bitcoins decided to hold on to the lot? if price spikes in a few years then everyone sells? for the same fiat everyone says bitcoin kills? (not a rhetorical question nor sarcasm)

My HOPE is if the bitcoin price surges to ridiculous heights, the bitcoins i have will be able to be spent JUST as i spend my GBP now,

if bitcoin ever got to 10k per coin, ill be spending not selling, is this the same for most? orrrr?

My current approach is, whatever BTC i gain, i will save a little and will spend a little regardless of market value (unless it dropped bellow $150 in which case buy buy buy lol but from what ive read i doubt this) but isnt the spending of the btc what helps in grow? or am i mistaken?

[OrientA]

I will hold most of my coins as saving. I will also use some of the coins to purchase goods/services so as to make bitcoin useful to the society.

[MbitSport]

a house is definitely on my agenda if the price was to sky rocket lol I want also to be able to buy some everyday things too,i imagine one day using BTC to pay for gas @ service stations, with some sort of paying kiosk that maybe scans my QR for Payment.

[Dilla]

Buy a house, and take care of family

[vervolioman]

I would only enjoy a family holiday the rest would be saved & spent on silver and gold which I would never get to spend nor enjoy but would look down with a smile on the ones I love who will. What helps the price grow can be spending if people are demanding the btc when there is smaller supply to the demand.

[lite]

If bitcoin reaches $10k i can buy a house with my current bitcoin holdings.  

[Marcopolo123]

try to make a solid passive income to become financial independent.
still holding most of the bitcoins i think

[ssmc2]

If we reach 10k you can be damn certain I'm hodling 90% of my stash. Because if we're able to reach that number, 6 figures are around the corner.

[alpet]

I hope get more bitcoins via leveraged long positions (futures contracts), and then may be convert profit into gold coins.

[Raimonn]

If bitcoins goes to 5.000 or 10.000 $ i will sell some bitcoins to buy a new car and will secure a part of my bitcoins on a metal paper wallet with laser engraving.

[Amph]

i would like to buy an house, but i would prefer to do it with bitcoin, surely i'm going to begin to use bitcoin around 5k-10k range, and something at 3k

i hope that by then i would be able to buy directly with bitcoin, i don't want to touch fiat anymore

[MbitSport]

If we reach 10k you can be damn certain I'm hodling 90% of my stash. Because if we're able to reach that number, 6 figures are around the corner.

Although i would LOVE for a 6 figure number for BTC1.0 how likely is this really? i mean how many new millionaires would than generate? and what would it mean for the rest of the world that at that point that either dont have any BTC or not a large amount? (lets say a few $thousand worth)

Just done a quick search for how many millionaire there are globally and estimate lay between 14 & 20 million millionaire currently.
Now how many people today have more than BTC1.0? and how much will that number rise between Now @ $413 per btc (coindesks current rate) and the 1million dollar mark?

What would that reflect in the amount of millionaires there are globally? furthermore, will $1mill @ todays value be the same as $1mill by the the time the BTC is worth 6 figure per coin?


(amount of millionaires' source: m/2015/06/24/how-many-millionaires-in-the-world-it-depends.html]http://www.c[Suspicious link removed]m/2015/06/24/how-many-millionaires-in-the-world-it-depends.html

[infofront]

I'm hodling to $100K+.

[oblivi]

Buy a house, and take care of family

If you guys plan on buying a house, take into account the tax. You'll need to tax the BTC you use to buy them, so you need to make gains that are + the house price + whatever tax needed to be applied. So yeah it sucks because you may have 500K in BTC, but as soon as you want to buy a house you get taxed and I have no idea how much that that tax it but I assume it's a lot.

[r0ach]

Kind of invalid original post.  You can already do things like buy Lamborghinis and houses using Bitcoin, you don't have to convert to fiat.  As Bitcoin goes up, people who are all in on Bitcoin will diversify into other things like land or hookers in the case of Mark Karpeles.  When it hits $10,000 or more the price doesn't just implode from everyone buying things.  The higher the market cap goes, the more desirable it is.

[SmoothCurves]

I'm hodling to $100K+.

Ditto. Then I plan on buying one of these:

[Meuh6879]

loan a car, loan a house, loan a girlfriend.

don't buy anything ... IRS (tax) is more strong than you.
but, when you loan ... they can't freeze anything income.
they can't only close your account.

and thanks god, they have made the complexity provide credit card in the world.

[mrbrt]

Buy a house, and take care of family

If you guys plan on buying a house, take into account the tax. You'll need to tax the BTC you use to buy them, so you need to make gains that are + the house price + whatever tax needed to be applied. So yeah it sucks because you may have 500K in BTC, but as soon as you want to buy a house you get taxed and I have no idea how much that that tax it but I assume it's a lot.

In the U.S. bitcoin is subject to capital gains tax (short term or long term). Short term tax is your highest marginal tax rate (up to 39% iirc), but you only get taxed on your gains (i.e. if you buy bitcoin at $200 and sell at $300, you'd have to pay tax on the $100 you gained). Long term capital gains tax is 15%, where long term is greater than 1 year (i.e. you buy bitcoin on January 1, 2015, you must sell after January 1, 2016 or any gains will be taxed as short term gains).

I'm not a tax professional, so ya know..

[randy8777]

i would sell a part of my coins to enjoy the profits by buying myself a car or even a new house if the price will go insanely high. i think most people would do so. i will hold the other coins just in case it goes even higher.

[jtalk]

If price of bitcoin reaches 10 k $ I am surely going to take early retirement and going to build a villa plus a business of real estate in future.I am holding to see that day as this will come soon in couple of years or sooner.