So when do you "actually" plan to cash in your bitcoin? > or <$1,000,000

[istake]

Yes, we all want bitcoin to hit the $1 million mark, but do you plan to sell before then or even if it hits $1,000,000 would you really sell then? So the question is, have you thought about when you plan to cash in or don't you plan to cash out?

[hackworth]

$1M is a nice fantasy, but it's still a fantasy.

[hyperdak]

then fee is ?

  when btc hits $1,000,000 who can take the fee to use btc?

[rommelzkie]

For me im planning to cash out at around 6k USD. then ill wait for another dump then ill cash out again at 9k or 10k USD. I will not wait for bitcoin to reach 1M or 100K USD. Time is gold.  

[janggernaut]

For me im planning to cash out at around 6k USD. then ill wait for another dump then ill cash out again at 9k or 10k USD. I will not wait for bitcoin to reach 1M or 100K USD. Time is gold.  

If you are saying time is gold, is it would be better if you wait until bitcoin hit $100,000 ? Better wait for a while rather than cash out some pennies. Although i'm not sure when it will be happens

[Baofeng]

Yes, we all want bitcoin to hit the $1 million mark, but do you plan to sell before then or even if it hits $1,000,000 would you really sell then? So the question is, have you thought about when you plan to cash in or don't you plan to cash out?

Its really depend on the traders itself. Take a look when we hit $5000, its a mental barrier so a lot of trader have sold of at that price. But then again $1M is too big a target so I don't know if you can ever touch that price. Holders will be holders, however they will sell one time or the the other. Some may target $5000 while others $1000. If you needed the funds then you don't have a choice but to sell it as well. So there's no general answer to your question. Its a case to case basis.

[Nawaytes]

Every day I convert my bitcoin into fiat currency which is the result of my trading profits, and always leave 50% profit to buy bitcoin again.
I don't hold it, but if I could sell with 200% or more profit, why not?
- Every day is always the best day -

[Graphics]

When bitcoin will reach 1M$ you wont have to cash it out.
It will be the standard in almost all of the online and offline payments.
It will be more accepted than USD worldwide so there will be no point in cashing out of it, You will simply use it.

[Prodigan786]

I planning to sell bitcoin once it reach 10000$ if it happens by end of this year because I have to get some things and settle down some of my needs by end of the year.

[Herbert2020]

i don't understand the word "cash out" in this context
if bitcoin is worth $1,000,000 that means the adoption is so big that almost everyone is using bitcoin. and you do realize that bitcoin is a currency right? in which case it doesn't really make sense to "cash out", you just spend the coins that you have been hoarding! for example you want to buy groceries, great buy them with bitcoin that is now stable and above $1 million and enjoy your profit.

[Kakmakr]

I can tell you a lot of people will have sold their bitcoins long before $1 000 000 was reached. They will start selling at $10 000/bitcoin and only the super rich will be buying and selling these bitcoins. People have these fantasies of Bitcoin being valued at $1 000 000, but by that time most of them will not even own bitcoins anymore.

If you link "time" to this statement and you say bitcoin will be valued at $1 000 000 by the year 2090, then this might be worth shit. ^smile^  

[mallboat]

Yes, we all want bitcoin to hit the $1 million mark, but do you plan to sell before then or even if it hits $1,000,000 would you really sell then? So the question is, have you thought about when you plan to cash in or don't you plan to cash out?

I plan to sell bitcoin when i am already in need of money. $1M is a very huge amount but before bitcoin would price the high it would took years around 20-50 years time i guess or more than I maybe dead that time so before i die i will encash everything.

[aoluain]

I can tell you a lot of people will have sold their bitcoins long before $1 000 000 was reached. They will start selling at $10 000/bitcoin and only the super rich will be buying and selling these bitcoins. People have these fantasies of Bitcoin being valued at $1 000 000, but by that time most of them will not even own bitcoins anymore.

If you link "time" to this statement and you say bitcoin will be valued at $1 000 000 by the year 2090, then this might be worth shit. ^smile^  

This makes sense, there will be a lot of people in a position
to sell their bitcoin well in advance of $1m but probably not.
In a position go get back in.

Buying into bitcoin at 4k is one thing but buying in at 40k is
anothernand will be totally unrealistic for the majority of users
even on bct.

[Don Pedro Dinero]

As I will keep earning bitcoins during the process, what I plan to do is to spend part of my earnings and keep accumulating. That way I can grow my investment in bitcoins, no matter the price highs and lows, and also spend them so I can enjoy some of my earnings. That way I won’t be too worried about the price. Obviously, if there is a deep dip, I may not spend anything until price recovers a bit.

[Xenrise]

Probably I will cash my bitcoins when it reaches the 1m usd mark. Wow it is so amazing to think of that the thing you are supporting reached the 1 million mark. And you will have a lot of money by that. But I will tell you it will be  along game. The waiting game. It is a long waiting game to go. Probably we will reach the 1m mark probably after many years.

[xFiber]

I'm planning to hold for a decade maybe and observe what happens. If bitcoin were to hit 1,000,000$ a piece I will certainly consult an accountant and maybe even a lawyer in order for me to make the best and legal decision.

[Carlsen]

There are three options when I am giong to cash out:
If I am in desperate need of money and everything else I had is gone already.
If the amount of total bitcoins I have passes the one million dollar.
By January first 2035. That date is not absolute, but I am planning to start my retirement there.

[NorrisK]

I'm slowly cashing out small parts of my bitcoin and altcoin holdings as the price is rising. This way, I make sure to lock in some profit while also allowing me to profit if the price makes huge jumps.

I wouldn't set a fixed price in stone, especially something like 1,000,000 USD as this is not likely to happen anytime soon. And if it happens, soon then there is probably something else going on that makes the USD worth a lot less then it is now.

[PMmesexycoins]

If it ever reaches that high, you would expect it to be a dollar that's worth far less than the current day one.

If it were at current day rates, there would be more money in circulation, than there is nowadays total. And that would be counting just btc, which I would expect to exist among many other coins.

Am I wrong?

[emuLOAD]

very much so. even allowing for 21 million BTC, at 1 million each, gives a theoretical 21,000,000,000,000 forget total world money supply, that's about equal to the current US debt