Future Bitcoin millionaires - will you cash out when you hit $1M?

[SgtSpike]

Just assume that whatever amount of Bitcoins you have, no matter how small, are worth $1M one day.  What will you do?

[1715409440]

1715409440

[Remember remember the 5th of November]

The millionaires will hoard coins till their last breath.

[DeathAndTaxes]

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).

[Remember remember the 5th of November]

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).

When your fiat becomes worthless paper it doomes the BTC economy because BTC<->USD is the main currency traded between bitcoiners. Bitcoin will be as worthless then.

[DeathAndTaxes]

I didn't say worthless just worth ... LESS.  Worst case scenario US coins have a decent amount of commodity value.  If all fiat currencies simultaneously because absolutely worthless (not just devalued), I am sure MtGox would put up a BTC/GLD market (or maybe a BTC/H20 one).

[Gabi]

If it hit $1M then it means bitcoin is the currency of the world, and that there would be nothing to cash it out, everything would be traded in bitcoin 

[warpio]

I intend to keep 50% in BTC, 30% in fiat, and 20% in altcoins regardless of what happens. The future is too uncertain to go "all in" to a single currency.

[DeathAndTaxes]

If it hit $1M then it means bitcoin is the currency of the world, and that there would be nothing to cash it out, everything would be traded in bitcoin 

I don't think he means an exchange rate of $1,000,000 USD per BTC but rather if someone personal holdings were worth $1M.  Like if you had $1M worth of gold would you sell the gold?

[Remember remember the 5th of November]

I didn't say worthless just worth ... LESS.  Even the Zimbabwae dollar isn't worthless just not worth much.  Worst case scenario US coins have a decent amount of commodity value.  If all fiat currrencies because absolutely worthless (not just devalued) at the same time.  I am sure MtGox would put up a BTC/GLD market.

That actually isn't such a bad idea, in fact it's great. BTC<->Gold but not in the form of physical ownership, not till you decide to "withdraw" at least.

[DeathAndTaxes]

That actually isn't such a bad idea, in fact it's great. BTC<->Gold but not in the form of physical ownership, not till you decide to "withdraw" at least.

It is an idea we (Tangible Cryptography not MtGox) have been discussing at owners meetings.  Of course taking physical delivery would be an option also.

Something like this https://www.bullionvault.com/ but obviously on a smaller scale, with the gold reserve held by a trust in a private vault with periodic audits.

Actually it would be beyond awesome if bullionvault simply added BTC as a market. The commodity side is the hard part and they already have all that in place. 

[evoorhees]

I already cashed out. I cashed out of dollars into Bitcoin.

[Klestin]

When I have enough to pay off my house with 50% of my holdings, I will cash out that 50%.

[dg2010]

When your fiat becomes worthless paper it doomes the BTC economy because BTC<->USD is the main currency traded between bitcoiners. Bitcoin will be as worthless then.

Yes except if you cash out to fiat and then purchase an asset, like a home. A home will always be a home.... short of a major disaster, natural or otherwise. The value isn't so important.

Now when you can buy a home with Bitcoin....now we are really talking!

[Newscastix]

I already cashed out. I cashed out of dollars into Bitcoin.

This! Why would i want to go back into fiat? Losing value every day...

[jwzguy]

I already cashed out. I cashed out of dollars into Bitcoin.

I panic sold all my dollars for btc. Just in the nick of time, too. The long, agonizing downslide is turning into a freefall.

[chrsjrcj]

If my Bitcoin holdings reach $1 million, we've probably already reached widespread adoption, and there'd be no point for me to cash out.

[kiko]

That actually isn't such a bad idea, in fact it's great. BTC<->Gold but not in the form of physical ownership, not till you decide to "withdraw" at least.

It is an idea we (Tangible Cryptography not MtGox) have been discussing at owners meetings.  Of course taking physical delivery would be an option also.

Something like this https://www.bullionvault.com/ but obviously on a smaller scale, with the gold reserve held by a trust in a private vault with periodic audits.

Actually it would be beyond awesome if bullionvault simply added BTC as a market. The commodity side is the hard part and they already have all that in place. 

It's obvious the folks over at Goldmoney are going to announce something like this. After all the questionnaires, interviews, and that video partnership with bitcoin magazine.  I just hope they hurry up about it.

[NABiT]

That actually isn't such a bad idea, in fact it's great. BTC<->Gold but not in the form of physical ownership, not till you decide to "withdraw" at least.

It is an idea we (Tangible Cryptography not MtGox) have been discussing at owners meetings.  Of course taking physical delivery would be an option also.

Something like this https://www.bullionvault.com/ but obviously on a smaller scale, with the gold reserve held by a trust in a private vault with periodic audits.

Actually it would be beyond awesome if bullionvault simply added BTC as a market. The commodity side is the hard part and they already have all that in place. 

It's obvious the folks over at Goldmoney are going to announce something like this. After all the questionnaires, interviews, and that video partnership with bitcoin magazine.  I just hope they hurry up about it.

If it happened I would expect it to happen at Goldmoney as opposed to BullionVault, I actually heard James Turk, can't remember the interview, saying they had been considering the idea of providing this service for their Goldmoney customers.

I guess there would be a lot of legal hurdles, Jan 2012 due to regulations they even stopped the option for their customers to use their precious metals in payment for goods and services from other GoldMoney customers.

[flug]

I'm planning on spending/cashing out 1% of my BTC holdings per month when the exchange rate reaches a certain level.

[WiseOldOwl]

I was working on a BTC<->AU (gold) Market.
You send in gold or buy shares from others to create a gold balance (shares represented in grams) on the exchange, and trade like normal 1 gram to .33 BTC or whatever.

[zeroday]

Yes, I'll probably cash out some when 1BTC will hit $1M

[Mcoroklo]

Because of tax reasons, I would probably try to stay in BTC as long as possible. And if we gets close to that scenario, everything could be bought for Bitcoins anyway.

[crazy_rabbit]

Considering how few coins I have, if I'm worth a $1 Million then Bitcoin is a success and I'm leaving it in bitcoin.

[matt608]

That actually isn't such a bad idea, in fact it's great. BTC<->Gold but not in the form of physical ownership, not till you decide to "withdraw" at least.

It is an idea we (Tangible Cryptography not MtGox) have been discussing at owners meetings.  Of course taking physical delivery would be an option also.

Something like this https://www.bullionvault.com/ but obviously on a smaller scale, with the gold reserve held by a trust in a private vault with periodic audits.

Actually it would be beyond awesome if bullionvault simply added BTC as a market. The commodity side is the hard part and they already have all that in place. 

I've just emailed BullionVault asking if they will do such a thing, as I would like to put a little portion of my bitcoins into silver and I'm sure many of us want to do the same.

[tvbcof]

$1M is just a number like 21x10^6.  No real meaning.

I planned to be at about zero net at around the 10x mark.  Done!

I'll be progressively cashing out as we march forward.  Or backward.  From here forward I have to factor in taxes more which will play a role in my decisions.

There would be no compelling reason to sell out completely whether the values when astronomical or whether they crashed.  In the former case I won't need the money and in the latter case, why bother?

[Carlton Banks]

$1M is just a number like 21x10^6.  No real meaning.

+1

I remember withdrawing cash at an ATM in Italy in the 1990's, the current equivalent of €20 was MILLIONS of Lira. Not one million, but several. The question for me is more: which happens first, BTC holdings become worth $1M, or $1M becomes not such an idealized sum of money.

[notig]

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).

that's my thinking

[tvbcof]

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).

that's my thinking

I am mindful that Bitcoin is still classified as 'experimental', and I believe even 'officially' for whatever that means.  It is certainly official that it has not been marked as 1.x.  That much we know.  Nobody knows what the various governments are going to attempt.

Not wishing to sit on fiat is probably the biggest reason I will tend to sit on more native Bitcoin for longer than I probably would otherwise, but at this point I am looking to hedge my bets to what I consider a rational degree.  That's just me though.  Everyone else should obviously do as they will.

[tonto]

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)

[buddhacoiner]

Ideally I would like to 'cash out' when I have enough to be able to piddle around on my remote piece of property off the grid and not have to worry about food (and having to work a menial job for it) for the rest of my life.  I don't want toys, cars, a second house or any of that.  I want to do nothing but spend my time in the woods where i live now, grow my own food, relax and not have to worry about the future.

Basically, I don't need much.  'Cashing out' for me would be using the bitcoin proceeds to purchase a few generators, a few more solar panels, a second rifle for hunting, 50 truckloads of soil and manure, a shitload of seeds and bullets (fail safe investments if I ever heard of any!), etc.  Then I would need enough to pay my monthly cell phone bill (yes, i live right on the cusp of cell service in the woods...and this is the only way i have internet), my yearly propane refill and my satellite porn.  Then I'm happy.  I've already backpacked around the whole world.

[Operatr]

Cash out to what? $1,000,000 of soon to be worthless currency when China blows up and takes the rest of the world's economy with it? Do some research, this is actually happening right now as I type this. China's artificial boom will bust this year in all likelihood, which will then trigger a chain reaction meltdown moving to a commodities slump, housing slump, and the US itself will be bankrupt when US Medical care and student loan debt pop, and the US housing crash 2.0 to follow, rampant joblessness as the downsizing occurs....the USD and Euro may not exist anymore, and Bitcoin is the system that will vacuum up the pieces left. More and more people disgusted with shady banks and the shadow government (when groups of the most powerful people on Earth meet up once a year for a discussion, what do you think they talk about? More control and power for themselves).

I view Bitcoin as a liferaft, whatever I put in is staying in until BTC is the only currency left. Will that actually happen? Who knows, this is the wild west, and Bitcoin is our gun against oppression of banks and government that are literally engineering the NWO as they have for years, even proposing their own One Currency 10 years ago. I am in a big picture frame of mind with this. With the assumption that someday most of the world will convert to Bitcoin as the old economy burns, BTC will carry serious buying power in the future. This little bubble/increase right now will be trivial in comparison to what's next. Cashing out for $1,000,000 of a hyperinflating and soon to be extinct currency would be idiotic.

There seems to be two classes of Bitcoin supporters: the cash grabbers, and the true believers.

As a man made destitute by an unfair, patronizing bastard of a banking system, this is my cause, and this is my fight to help the USD find its way into a pine box along with those in control of it. Ill spend my BTC in the BTC economy as much as possible because the economy can't work practically if everyone just jumps in as a get rich quick scheme instead of staying in BTC land and buying things with it. I intend to have a liquid BTC fund to spend with, and a long term cold storage for savings.

It is my belief if things go the way I think they will this year, Bitcoin may be the only viable economy to join as one free of the debt problem and uncontrolled by any one entity. Plenty can go wrong as Bitcoin is so young, but its future potential is riveting.

Assuming all of the world's cap makes it into Bitcoin, each one would be worth about $3 Million in spending power assuming the pricing conversion holds on everyday goods. I think I'll be patient and wait, and if the market starts crashing I'll be headed to the exits like everyone else. Though it has survived a few crashes so far, rising from the 2011 one when everyone but the Bitcoin Faithful called it dead.

It will only get bigger as the economy destroys itself. A massive event is right around the bend that will rock this planet to the core, I can't wait to see what Bitcoin does then and my mining op is rolling. I can't justify putting my money anywhere else, because all of it is in massive danger. BTC is the only rising start out of this mess.

[Operatr]

$1M is just a number like 21x10^6.  No real meaning.

+1

I remember withdrawing cash at an ATM in Italy in the 1990's, the current equivalent of €20 was MILLIONS of Lira. Not one million, but several. The question for me is more: which happens first, BTC holdings become worth $1M, or $1M becomes not such an idealized sum of money.

Other crypto-currencies like Litecoin could fill this role as it is intended to, silver to Bitcoin gold. More of them, worth less overall.

[Elwar]

You may as well ask if people who use dollars plan on cashing out to Yens or Rubles once they reach 1M.

[Wekkel]

Getting rid of debt is a noble cause.

[jubalix]

I intend to keep 50% in BTC, 30% in fiat, and 20% in altcoins regardless of what happens. The future is too uncertain to go "all in" to a single currency.

wise words I think

[pennywise]

will you cash out when you hit $1M?

A flawed question. If BTC ever hits $1M, then I won't have to cash out. Perhaps I'll then just cash out of the rest of the fiat.

Cash out to what? $1,000,000 of soon to be worthless currency when China blows up and takes the rest of the world's economy with it? Do some research, this is actually happening right now as I type this. China's artificial boom will bust this year in all likelihood, which will then trigger a chain reaction meltdown moving to a commodities slump, housing slump, and the US itself will be bankrupt when US Medical care and student loan debt pop, and the US housing crash 2.0 to follow, rampant joblessness as the downsizing occurs....the USD and Euro may not exist anymore, and Bitcoin is the system that will vacuum up the pieces left. More and more people disgusted with shady banks and the shadow government (when groups of the most powerful people on Earth meet up once a year for a discussion, what do you think they talk about? More control and power for themselves).

I very much agree with this.

[SgtSpike]

will you cash out when you hit $1M?

A flawed question. If BTC ever hits $1M, then I won't have to cash out. Perhaps I'll then just cash out of the rest of the fiat.

Cash out to what? $1,000,000 of soon to be worthless currency when China blows up and takes the rest of the world's economy with it? Do some research, this is actually happening right now as I type this. China's artificial boom will bust this year in all likelihood, which will then trigger a chain reaction meltdown moving to a commodities slump, housing slump, and the US itself will be bankrupt when US Medical care and student loan debt pop, and the US housing crash 2.0 to follow, rampant joblessness as the downsizing occurs....the USD and Euro may not exist anymore, and Bitcoin is the system that will vacuum up the pieces left. More and more people disgusted with shady banks and the shadow government (when groups of the most powerful people on Earth meet up once a year for a discussion, what do you think they talk about? More control and power for themselves).

I very much agree with this.

It's not if BTC hits $1M.  It's when your holdings hit $1M.

[jubalix]

Considering how few coins I have, if I'm worth a $1 Million then Bitcoin is a success and I'm leaving it in bitcoin.

few coins? I am sure you are in the Vladamir Club at least

[jerkoff]

Cash out to what? $1,000,000 of soon to be worthless currency when China blows up and takes the rest of the world's economy with it? Do some research, this is actually happening right now as I type this. China's artificial boom will bust this year in all likelihood, which will then trigger a chain reaction meltdown moving to a commodities slump, housing slump, and the US itself will be bankrupt when US Medical care and student loan debt pop, and the US housing crash 2.0 to follow, rampant joblessness as the downsizing occurs....the USD and Euro may not exist anymore, and Bitcoin is the system that will vacuum up the pieces left. More and more people disgusted with shady banks and the shadow government (when groups of the most powerful people on Earth meet up once a year for a discussion, what do you think they talk about? More control and power for themselves).

If the whole world ends, countries go bankrupt and everyone sits in a shack on a hill with an ak47 and a year supply of food, who's going to run the internet that your bitcoins are based on ?

[HappyBitCoinUser]

Cash out at $1M is good idea, but into US Dollar is bad idea.

[arklan]

i'd not necessarily cash out in the sense of selling btc for fiat, but i sure as hell would spend some, even if that required conversion to fiat. i mean, house, car, more mining hardware...

[oaxaca]

$1M should be enough to run away and hide (if that is what you want).  I saw a nice property in Central America that would cost 1/10 of that.

The real question would be cash out into what, not when.  Anybody got a tax-free, no-questions-asked exit strategy?

[fivemileshigh]

A million dollars isn't what it used to be.

[Nemesis]

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).

Are you still mining?

Congrazt D&T, you deserved this wealth.

[Explodicle]

When I have enough to pay off my house with 50% of my holdings, I will cash out that 50%.

Cash out at $1M is good idea, but into US Dollar is bad idea.

These. I'm not 100% certain that Bitcoin will last as long as I will, and would love to get my family out of debt before a possible bitcoin crash. But I don't want to sell them all, in the off chance Bitcoin DOES revolutionize the world economy.

But I'm just as doubtful of the USD, so I'd probably diversify into stocks and commodities.

[jaime]

Cash out to what? Maybe gold if you want to diversify, but if bitcoin hits the 1M mark it's because fiat currencies are becoming totally worthless.

[SgtSpike]

Cash out to what? Maybe gold if you want to diversify, but if bitcoin hits the 1M mark it's because fiat currencies are becoming totally worthless.

Sure, gold, becoming debt-free, buying a nice house, purchasing up rental properties, whatever.  I know I certainly won't be keeping my money in USD, but buying $1M worth of rental property with cash is a rather attractive proposition.

[Bitcoinm]

If it hit $1m I would probably only turn anything into USD if I needed USD for some odd reason.

[virtualmaster]

I like that the majority trust in bitcoin more than in fiat.
That's correct. If you cash out you just need to pay a lot of taxes and answer a lot of unpleasant questions.
Better if you keep it and cash out only what you need.

[Mike Christ]

My 1 million dollars of tomorrow is only buying $990,000 today.  No thanks!  I'll stick with the coin.

[ABitBack]

$1M should be enough to run away and hide (if that is what you want).  I saw a nice property in Central America that would cost 1/10 of that.

The real question would be cash out into what, not when.  Anybody got a tax-free, no-questions-asked exit strategy?

Couldn't you create a hip website, then make a competition to win $$$, then make yourself win. Winnings aren't taxable. Correct me if I'm wrong. Surly this can't work?

[Luckybit]

The millionaires will hoard coins till their last breath.

Why cash out? So we can be paying taxes? College loan debt? And have higher rent?

The smartest thing to do is never cash out. Just buy and become part of the Bitcoin economy permanently. Start working for or running businesses which accept Bitcoin.

[Luckybit]

If it hit $1M then it means bitcoin is the currency of the world, and that there would be nothing to cash it out, everything would be traded in bitcoin 

I don't think he means an exchange rate of $1,000,000 USD per BTC but rather if someone personal holdings were worth $1M.  Like if you had $1M worth of gold would you sell the gold?

How exactly would you even determine your personal holdings? If 1 BTC isn't worth 1 million then it's hard to know how much an entire persons holdings are worth when you have alt currencies, and Bitcoin cryptostocks, and the mining.

[DeathAndTaxes]

If it hit $1M then it means bitcoin is the currency of the world, and that there would be nothing to cash it out, everything would be traded in bitcoin 

I don't think he means an exchange rate of $1,000,000 USD per BTC but rather if someone personal holdings were worth $1M.  Like if you had $1M worth of gold would you sell the gold?

How exactly would you even determine your personal holdings? If 1 BTC isn't worth 1 million then it's hard to know how much an entire persons holdings are worth when you have alt currencies, and Bitcoin cryptostocks, and the mining.

It was an individual question.  You don't know how much YOUR Bitcoins are worth?  No problem send me your wallet.dat by email and I will email you when your Bitcoins are worth $1M.  Problem solved.

[Luckybit]

If it hit $1M then it means bitcoin is the currency of the world, and that there would be nothing to cash it out, everything would be traded in bitcoin 

I don't think he means an exchange rate of $1,000,000 USD per BTC but rather if someone personal holdings were worth $1M.  Like if you had $1M worth of gold would you sell the gold?

How exactly would you even determine your personal holdings? If 1 BTC isn't worth 1 million then it's hard to know how much an entire persons holdings are worth when you have alt currencies, and Bitcoin cryptostocks, and the mining.

It was an individual question.  You don't know how much YOUR Bitcoins are worth?  No problem send me your wallet.dat by email and I will email you when your Bitcoins are worth $1M.  Problem solved.

I only have a few so they will probably never be worth $1M.

[leopard2]

$1M should be enough to run away and hide (if that is what you want).  I saw a nice property in Central America that would cost 1/10 of that.

The real question would be cash out into what, not when.  Anybody got a tax-free, no-questions-asked exit strategy?

Sure go to Venezuela, they won't extradite you 

[veteranBtc]

I was working on a BTC<->AU (gold) Market.
You send in gold or buy shares from others to create a gold balance (shares represented in grams) on the exchange, and trade like normal 1 gram to .33 BTC or whatever.

The gold idea is great!
Bitcoins in exchange for gold and vice versa.

[veteranBtc]

A million dollars isn't what it used to be.

You said that from your experience or what?
Do you have 1M$ ?

[markm]

Hmm well lets think... Suppose when bitcoins hit $15 a while ago, that was your million dollars point.

Would you cashed out?

If you did/had, how would you / did you feel now that bitcoins are well over $200, maybe likely to hit $500 soon, and looking more and more certain to be way over $1000 by the end of the year (if not far sooner, like by the end of the summer...)



On the other hand, I do want to buy some good well built low power consumption ASICs...

-MarkM-

[ar9]

I'm not sure I will ever cash out.

My notion is that I haven't really bought into BTC, so I'll ride this wave with my (few) Bitcoins as long as they're viable.  If they die, I'm okay with that as I haven't invested heavily in them.

It's a hobby to me, at this point.

[dmartig]

if you go to the cia fact book and look up narrow money you will find that
bitcoin if it were the currency of a country would be ranked 125 one spot ahead of jamaica.
i would say the "experiment" is a resounding success. this just after 4 years. it will remove control of the planet from the banksters and
their toady governments. at its current rate of growth which is quite organic rather than irrational
there will be nowhere or reason to cash out to. this is a libertarians wet dream.
the citizens of the world taking control of their own money and creating it out of thin air.
the sheer genius of it leaves me in awe.

[Operatr]

if you go to the cia fact book and look up narrow money you will find that
bitcoin if it were the currency of a country would be ranked 125 one spot ahead of jamaica.
i would say the "experiment" is a resounding success. this just after 4 years. it will remove control of the planet from the banksters and
their toady governments. at its current rate of growth which is quite organic rather than irrational
there will be nowhere or reason to cash out to. this is a libertarians wet dream.
the citizens of the world taking control of their own money and creating it out of thin air.
the sheer genius of it leaves me in awe.

It is extemely fascinating to watch it happen in real time. BTC has the power to overwrite the system like a self propagating financial-flesh eating virus, and I think we all want that to happen. As the old world crumbles Bitcoin is here to pick up the pieces.

And it owns

[dmartig]

if you go to the cia fact book and look up narrow money you will find that
bitcoin if it were the currency of a country would be ranked 125 one spot ahead of jamaica.
i would say the "experiment" is a resounding success. this just after 4 years. it will remove control of the planet from the banksters and
their toady governments. at its current rate of growth which is quite organic rather than irrational
there will be nowhere or reason to cash out to. this is a libertarians wet dream.
the citizens of the world taking control of their own money and creating it out of thin air.
the sheer genius of it leaves me in awe.

OVERNIGHT THIS HAPPENED ..............BITCOIN WENT FROM 125 TO 119.  any forex traders out there?

[caveden]

OVERNIGHT THIS HAPPENED ..............BITCOIN WENT FROM 125 TO 119.  any forex traders out there?

Apparently you're not yet following this awesome thread: https://bitcointalk.org/index.php?topic=154954.0;all

[Stunna]

I know how people feel with regards to this but if you have a significant sum of money it would be dumb not to at least attempt to diversify some of it.

Easy come easy go, I've learned that the hard way.

[papa_snurf]

I'll be a millionaire when you'll be a billionaire .

I won't cash out for USD. I'll spend it on real goods. Like booze. One million dollars worth of it 

[ZeRo103]

Makes me smile how we are. Yes probably i feel a little bit down that i did not stayed in bitcoin world back in 2011 because i was paying more on electricity that on how much bitcoins i was making but ..... Do you guys really think that when the banksters realise what bitcoin becomes they will just stand there and wait for their demise. Like we already know that panic in 1907 thru witch they created "Federal" Reserve  was a scientifically created one by JP Morgan and CO and the same for Stock Market Crash of 1929 and same the rest in the last hundred years. They can come here buy an example of 5 mil bitcoin from all you that say will not sell (because let's admit everything has a price) and they still have a printing machine at the Federal Reserve Bank and then dump all that in next day or month whenever they want to and make this market crash to pennies and buy up the rest too. It's not going to be easy. I'm thinking let's improve the bitcoin system by creating more market acceptance and more alternative crypto-curency options because this fight is not even started yet. Remember the fear off losing everything in a blink of an eye makes people go against their better judgment.

And not to be off topic, I'm already a millionaire and a billionaire = I have a wife that I love and we have a 1 year and half old son and 3 month old daughter that I can not put a price tag on, we have our health and i'm the happyest man alive. Is not this that we all want to be/have (happynes) ?!!! I quess it all depends off what makes YOU happy, but remember you might wanna think about the majority of the Lottery Winners, how they end up dead or more broke than they were before they won in just a few years.

I wish you all to find your happyness, but i don't think the love of money is (don't matter crypto or paper). Let's put our minds to improve this, just forget about the money part.

[SgtSpike]

Makes me smile how we are. Yes probably i feel a little bit down that i did not stayed in bitcoin world back in 2011 because i was paying more on electricity that on how much bitcoins i was making but ..... Do you guys really think that when the banksters realise what bitcoin becomes they will just stand there and wait for their demise. Like we already know that panic in 1907 thru witch they created "Federal" Reserve  was a scientifically created one by JP Morgan and CO and the same for Stock Market Crash of 1929 and same the rest in the last hundred years. They can come here buy an example of 5 mil bitcoin from all you that say will not sell (because let's admit everything has a price) and they still have a printing machine at the Federal Reserve Bank and then dump all that in next day or month whenever they want to and make this market crash to pennies and buy up the rest too. It's not going to be easy. I'm thinking let's improve the bitcoin system by creating more market acceptance and more alternative crypto-curency options because this fight is not even started yet. Remember the fear off losing everything in a blink of an eye makes people go against their better judgment.

And not to be off topic, I'm already a millionaire and a billionaire = I have a wife that I love and we have a 1 year and half old son and 3 month old daughter that I can not put a price tag on, we have our health and i'm the happyest man alive. Is not this that we all want to be/have (happynes) ?!!! I quess it all depends off what makes YOU happy, but remember you might wanna think about the majority of the Lottery Winners, how they end up dead or more broke than they were before they won in just a few years.

I wish you all to find your happyness, but i don't think the love of money is (don't matter crypto or paper). Let's put our minds to improve this, just forget about the money part.

That's incredibly easy to say when you're a millionaire/billionaire.  I would LOVE to not focus on the money, but the reality is, if Bitcoin gets high enough to allow me to pay off my student loan debts and mortgage, it WOULD make my wife and I quite a bit happier, and less stressed.  I know that people say money can't buy happiness, and that is certainly true, but lack of money sure can buy a lot of stress, worry, and unhappiness.

That said, I certainly agree that we should always be thinking about ways to improve Bitcoin and the services surrounding it!

[yona]

Bitcoin is not an asset, it is currency, so one can't 'cash out' one can choose to hold his money in differnt currencies.
I believe bitcoin is a better way to keep money then FIAT currency.
But considering the expermental state of bitcoin, one should not put all of his eggs in one busket.
I say i would keep 90% of my bitcoins no matter what

[Dabs]

I'm guessing, the meaning of the question is more accurate when the value of your bitcoin holdings (1, 20, 100, or 1000) is equivalent to today's USD 1 Million, in value.

What I think that means is when your 100 or 1000 bitcoins in a few years can buy what 1,000,000 US dollars today, will you cash out? And by cashing out, that means buying something else other than bitcoins that is worth $1M today.

Certainly, you will see several people buying stuff they've always wanted but never could get, like toys, cars, vehicles, homes, sports equipment, etc.

[DrG]

I'm guessing, the meaning of the question is more accurate when the value of your bitcoin holdings (1, 20, 100, or 1000) is equivalent to today's USD 1 Million, in value.

What I think that means is when your 100 or 1000 bitcoins in a few years can buy what 1,000,000 US dollars today, will you cash out? And by cashing out, that means buying something else other than bitcoins that is worth $1M today.

Certainly, you will see several people buying stuff they've always wanted but never could get, like toys, cars, vehicles, homes, sports equipment, etc.

I'm can has nukez? 

Sorry, channeling my inner Dear Leader.

[Dabs]

I don't think you can buy a nuke for $1M. Well, maybe you can, but I'm more into conventional weapons like rifles, shotguns, and pistols. That and a small private army.