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Poll
Question: At what price will you cash out your Bitcoin stash?
$100 - 14 (8.9%)
$1000 - 26 (16.5%)
$10,000 - 33 (20.9%)
$100,000+ - 29 (18.4%)
never - 56 (35.4%)
Total Voters: 158

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Author Topic: Poll: At what price will you cash out your Bitcoin stash?  (Read 3548 times)
Mageant
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March 21, 2013, 11:37:49 AM
 #1

At what price will you cash out your Bitcoin stash?

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tkbx
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March 21, 2013, 11:40:57 AM
 #2

I may sell .1 here and there while it's over $100, but I never plan on "cashing out".
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March 21, 2013, 11:42:29 AM
 #3

"When do you plan to stop buying on the way up" might be a more pertinent question :-)

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March 21, 2013, 11:48:29 AM
 #4

There's no point in cashing out to fiat when BTC value becomes high. Pretty soon you can buy a lambo for 20 bitcoins sans fiat

It seemed like a good idea at the time.
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March 21, 2013, 11:50:16 AM
 #5

There's no point in cashing out to fiat when BTC value becomes high. Pretty soon you can buy a lambo for 20 bitcoins sans fiat

don't miss out!

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March 21, 2013, 11:59:13 AM
 #6

At what price will you cash out your Bitcoin stash?

 When cashing out half our Coins gives us anough money to be "rich".

 My wife and I discussed what it means to be "rich" and decided that this means:

 Enough to buy a house (we have a specific size of house in mind) outright and have enough left over to have an income sufficient to no longer need to work.

 Compared to many, our working definition of "rich" is probably quite modest, but it will do for this purpose.



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March 21, 2013, 12:34:35 PM
 #7

When your cleaning lady is telling you to invest in bitcoin, then you know it's time to cash out.  Cheesy

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mccorvic
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March 21, 2013, 12:38:00 PM
 #8

When your cleaning lady is telling you to invest in bitcoin, then you know it's time to cash out.  Cheesy

No, this would mean it's time to buy because BTC is reaching critical mass.

BTC != stocks



Anyways, if I come home from work and the price was $600 dollars, I'd cash out momentarily because, I mean, come on.  That'd be outlandishly crazy.  On the other hand, if it takes a year or so to reach $600 I wouldn't sell.  My goal is to have BTC increase so much that I'd have zero reason at all to cashout into USD as I'd be able to just use BTC whenever/where ever/for whatever.

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March 21, 2013, 12:51:14 PM
 #9

I do not have that kind of long term strategy. My long term Bitcoin strategy is "hold until I really actually want to sell". My medium term strategy is "sell small amounts after medium term peak, buy bigger amounts after medium term bottom". My short term strategy is "keep a small emergency ask on MtGox to catch stupidly high intraday spikes and buy back after those spikes correct down". This last one is for entertainment purposes mainly.
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March 21, 2013, 12:54:58 PM
 #10

mp420, I used to do that too, but with the ridiculous pace of increase, my asks got bought all the time by structural increases, not even stupidly high spikes. Stopped doing even that now. Just sit and hold. We'll see were we end up.
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March 21, 2013, 12:55:36 PM
 #11

At what price will you cash out your Bitcoin stash?

The wrong question.  And wrong questions always give wrong results...

The right question:  Is the price of Bitcoins currently less or equal to their true value.  And that my friends is measured in utility and potential utility of Bitcoin, nothing else.
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March 21, 2013, 12:58:22 PM
 #12

Fun poll, but it would be smarter to scale out rather than sell the entire stash at one price.
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March 21, 2013, 12:59:31 PM
 #13

I'm assuming here that "stash" means the BTC I have in a wallet somewhere, and not the BTC I'm trading with every day.

In that case, I'll "cash out", whether to fiat or by spending them on goods/services, whenever I need a certain amount of liquidity and can't get it anywhere else. Just like any other long-term savings.

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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March 21, 2013, 01:11:49 PM
 #14

The right question:  Is the price of Bitcoins currently less or equal to their true value.  And that my friends is measured in utility and potential utility of Bitcoin, nothing else.

Right now the potential utility dominates the calculations i would say. That's why we have such a hard time putting the right price to a bitcoin.

Is giving all miners combined 10k$ a day for their services a lot? Probably not..

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March 21, 2013, 02:09:46 PM
 #15

If the price hits $100k I'll sell a bitcoin.
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March 21, 2013, 02:25:31 PM
 #16

I won't be cashing out. I'll be paying for my apartment in bitcoins.

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March 21, 2013, 02:36:22 PM
 #17

"If the price hits $100k I'll sell a bitcoin." - I feel ya...

I may sell like 0.01 btc to have 1000 usd and live like a king for a year somewhere in SE Asia Smiley


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March 21, 2013, 02:48:19 PM
 #18

I'll sell 2-3 coins at $10k, and then 2-3 at $100k, and 2-3 at $1M, probably hold the rest because I think 2 million would be enough to live comfortably for awhile.

chrsjrcj
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March 21, 2013, 03:30:41 PM
 #19

"When do you plan to stop buying on the way up" might be a more pertinent question :-)

Probably $100.
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March 21, 2013, 04:25:48 PM
 #20

Haven't voted as not sure I'd cash out my entire bitcoin stash, but I might sell some if or when i think a correction is due and likewise buy more when they seem cheap.

Price is moving so fast just now, bit too fast I think, which makes me wonder if I should think about cash some out. There will naturally be some steep corrections from time to time, if we hit a big enough bubble there will be a collapse at the end of it.
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