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Question: At what point will you sell most of your BTC?
$200-$499 - 31 (10.4%)
$500-$999 - 20 (6.7%)
$1000-$4999 - 55 (18.5%)
$5000-$9999 - 24 (8.1%)
$10,000-$49,999 - 38 (12.8%)
>$50,000 - 48 (16.1%)
I will never sell my BTC for dirty fiat money again - 76 (25.5%)
<$200 (clarify in post) - 6 (2%)
Total Voters: 298

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Author Topic: How strong is your hand?  (Read 6130 times)
Bitcoiner_cph
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May 15, 2013, 05:25:31 PM
 #61

I look at bitcoin as an appreciating asset to be used as collateral for loans in USD. There's no need to ever sell it.

I see this could be done in theory, but how is that possible in practice? I mean I don't think the banks will accept your bitcoins as an security for a loan, would they?

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WolfgangDS
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May 15, 2013, 05:40:13 PM
 #62

It'll all depend, really.  After I get about $200 worth, I plan on paying the internet bill.  I live with my mom, and she's always saying that if I don't want to hear her complain about me being on the internet all day that I should just pay the bill.

The salvation of man lies not in faiths placed in gods, but in our quest to become gods ourselves.
jinni
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May 15, 2013, 06:41:13 PM
 #63

Me I don't give a shit about clothes so my budget each year is about $600.  I shop at JCPennies, marchalls, tjmax... make fun all you want bout my style but I don't ever have to say... money is really tight can't go out for drinks and have fun with you sorry.

Wow, you are rich by comparison  Cheesy
$600 / year is an ABSOLUTELY OUTRAGEOUS amount of money to spend on clothing, to me ...
But, excellent post; I enjoyed reading some pearls of wisdom there.  I had to learn the debt game the hard way through bankruptcy myself.

Me too... Did the typical bad-credit thing during the 18-25 years, I call them my invincible idiot years.  What amazes me about credit is I messed mine up with only about 2k in debt... yet I constantly see/hear people with 30k in CC debt alone and they still can buy a car, home after foreclosure etc.  Me I had to pay 16% on my car loan during my bad credit days...   How does that make sense, I always thought credit score should take amount into consideration.

$600 a year... yeah it looks higher when on paper, I usually buy clothes 1-2 times a year, spent about $300 a go.  Cudos for being out-raged by clothing purchases!  Me I have more fun buying computers/beer and fun stuff, clothes aren't fun for me...

The last few years I've spent about $200/year on clothes and I think it's way too much. I have tons of clothes so this year I'm hoping to spend nil, hopefully the next year too, and the next after that. Maybe I'll spend a tiny bit on thread so I can repair them if they break.


If you ladies want to start comparing how much you spent on shoes and purses, please take it offline.

HAHAHAHAHA! You make me crack up exahash.

You really think a discussion about saving money isn't relevant when talking about strength of hands and a p2p currency that encourages saving? If you're going to continue with ad hominem and irrelevancies, please do it to your mom instead of to this forum!
halfawake
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June 05, 2013, 07:48:51 AM
 #64

This thread is making me wish I bought a ton of bitcoins a couple years ago when they were dirt cheap.  Alas, I'm late to the party, but hopefully not too late to make a decent profit, we'll see.

BTC: 13kJEpqhkW5MnQhWLvum7N5v8LbTAhzeWj
Le Happy Merchant
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June 05, 2013, 08:19:55 AM
 #65

This thread is making me wish I bought a ton of bitcoins a couple years ago when they were dirt cheap.  Alas, I'm late to the party, but hopefully not too late to make a decent profit, we'll see.

Trust me, everyone always feels that way. And trust me some more, you aren't too late.

Zaih
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June 05, 2013, 08:33:44 AM
 #66

The option containing dirty fiat, obviously  Roll Eyes
Rampion
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June 05, 2013, 10:56:45 AM
 #67

This thread is making me wish I bought a ton of bitcoins a couple years ago when they were dirt cheap.  Alas, I'm late to the party, but hopefully not too late to make a decent profit, we'll see.

Trust me, everyone always feels that way. And trust me some more, you aren't too late.

THIS.

oda.krell
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June 05, 2013, 12:10:30 PM
 #68

I know, I'm late to the party, but...

the premise of the entire question is somewhat meaningless, at least in the upper range of the answers (5000 USD+). If the USD/btc price reaches that level, there will be no reason anymore to "cash out", btc will factually have attained full adoption, at least in whatever niche it settled in (store of wealth in crisis countries, online payments, black market payment, who knows).

So for any value per btc that corresponds to a market cap in the 3 digit/high 2 digit billion range, the question about "strong hands"/"cashing out" doesn't mean the same it means for the lower values.

Not sure which Bitcoin wallet to use? I suggest to take a look at Electrum.
Electrum is an open-source lightweight client: user friendly, fast, and one of the safest ways to store, send or receive bitcoins.
For executables (Windows, OSX, Linux, Android), source code and documentation, see the Electrum homepage.
Malawi
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June 05, 2013, 12:25:24 PM
 #69

1. I'm not disputing the immense first mover advantage of gold. I only think it's risky because there is so much of it in asteroids and because it can be synthesized. Mining gold on asteroids probably won't happen until late this decade or early next, but when do you think investors will catch on and move out?


Mining from around black smokers will happen long before asteroid mining.
http://www.angelfire.com/planet/es767spring2006/

BitCoin is NOT a pyramid - it's a pagoda.
halfawake
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June 05, 2013, 09:23:28 PM
 #70

This thread is making me wish I bought a ton of bitcoins a couple years ago when they were dirt cheap.  Alas, I'm late to the party, but hopefully not too late to make a decent profit, we'll see.

Trust me, everyone always feels that way. And trust me some more, you aren't too late.

THIS.

Oh, I agree.  I'm still planning on buying at least several, just probably not as many as if I had got in the game earlier, so to speak.  But I reserve the right to buy more later on.

BTC: 13kJEpqhkW5MnQhWLvum7N5v8LbTAhzeWj
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