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Author Topic: What price is high enough?  (Read 2977 times)
stakhanov
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June 08, 2011, 08:57:37 AM
 #21

I'm not selling before 1000$ per BTC. I like the concept and I like having bitcoins, so I'll keep them unless I can really make real money selling them.
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Jack of Diamonds
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June 08, 2011, 10:01:56 AM
 #22

I'm not selling before 1000$ per BTC. I like the concept and I like having bitcoins, so I'll keep them unless I can really make real money selling them.

Same, except I've set a threshold at $100.

I have enough reserves that this price would give me a few million dollars in any western fiat currency. Even at current rates I could prob. buy a pretty nice house, a lambo or some other item.

But more power to you if it really does rise to such levels (or even higher). I fully commend you for your patience.

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gigabytecoin
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June 08, 2011, 10:12:17 AM
 #23

It is a tough question to answer.

Part of me wants to cash out if/when bitcoins reach $1,000 a piece... and part of me "knows" that will never happen (that is self doubt talking there, not disbelief in bitcoins).

So should I sell some at $50 then? I probably will. Not many but I would like to "make my money back" before the network gets hacked/tycho goes crazy/insert doomsday scenario here/etc/etc...
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June 08, 2011, 11:02:08 AM
 #24

How much higher does the price need to go for you to cash out of your bitcoins?

I'm not sure I'll ever convert mine back to paper. I'll probably convert mine to a house.
stic.man
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June 08, 2011, 11:32:10 AM
 #25

How much higher does the price need to go for you to cash out of your bitcoins?

I'm not sure I'll ever convert mine back to paper. I'll probably convert mine to a house.

yeah I don't have any desire for "regular" money but I would definitely buy a house with mine if possible.
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June 08, 2011, 12:45:09 PM
 #26

The thing is, I don't want to cash out. I want to be able to pay everything in bitcoins.

1 btc > 1e6 or 1e7 $

By then, it will certainly be possible.

I second this. In the short term I am happy with buying groceries and data needed to run an online business but am hoping more innovations keep occurring that allow it to move more mainstream, possibly to brick and mortar shops.

I'm afraid groceries will come last of all without doing some serious legwork. I bet I can find a butcher, farmer, baker, and someone to sell me hygiene products who will accept bitcoin - but probably not close enough to my house to deal with them exclusively. And chain supermarkets are just too reliant on the state paradigm. I think that large-scale grocers will probably start using bitcoin at around the same time that soldiers and cops start doing it too - when the government's money is utterly useless to them.
So do you think it will take the demise of the dollar to reach this point?

For it to start happening, no. The dollar just has to become unstable enough that even government agents begin to see the benefit of alternatives. But for it to happen on a wide scale, I fear that to be the case.

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tymothy
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June 08, 2011, 03:44:39 PM
 #27

Maybe $1000...that would pay for law school.  Grin
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