If 1 BTC = $100,000 How are you going to change into Cash?

[philip2000uk]

I don't want to withdraw all 4 coins but maybe 2 if it got to $100,000.

But how the hell would you do it?

Do you think there'll be an ATM that will give you $100,000?

Would you have to do the ATM every day of say $3,000

Would you sell 0.01 (make 0.01 worth of paper wallets)

How did the norway guy offload his $800,000+

[empoweoqwj]

what's it like in your dream bubble? 

[Remember remember the 5th of November]

I don't want to withdraw all 4 coins but maybe 2 if it got to $100,000.

But how the hell would you do it?

Do you think there'll be an ATM that will give you $100,000?

Would you have to do the ATM every day of say $3,000

Would you sell 0.01 (make 0.01 worth of paper wallets)

How did the norway guy offload his $800,000+

The idea is that you wont, once Bitcoin is 100% mainstream, there will be no "cash" other than Bitcoin. You will be buying everything in Bitcoin, from food to electronics. Your salary will be in Bitcoin.

[philip2000uk]

I don't want to withdraw all 4 coins but maybe 2 if it got to $100,000.

But how the hell would you do it?

Do you think there'll be an ATM that will give you $100,000?

Would you have to do the ATM every day of say $3,000

Would you sell 0.01 (make 0.01 worth of paper wallets)

How did the norway guy offload his $800,000+

The idea is that you wont, once Bitcoin is 100% mainstream, there will be no "cash" other than Bitcoin.

Ah Yes that's the other thing.  You'd still have quite a value in it.  So hopefully there'll be some service where you can have a safety net when buying a property.

[Altoidnerd]

Naw.  BTC will compliment other currencies, but BTC is too easy to lose/screw up if you don't know quite a bit about computers.  I think about telling my mom how to back up her wallet.dat file...and I conclude with certainty, some will simply never adopt bitcoin.  

[Remember remember the 5th of November]

Naw.  BTC will compliment other currencies, but BTC is too easy to lose/screw up if you don't know quite a bit about computers.  I think about telling my mom how to back up her wallet.dat file...and I conclude with certainty, some will simply never adopt bitcoin.  

Yeah, I also feel like some countries will simply ban Bitcoin, but if they do, they might compromise their economy.

[philip2000uk]

what's it like in your dream bubble? 

Well it's nice and roomy 

[philip2000uk]

Naw.  BTC will compliment other currencies, but BTC is too easy to lose/screw up if you don't know quite a bit about computers.  I think about telling my mom how to back up her wallet.dat file...and I conclude with certainty, some will simply never adopt bitcoin.  

Yeah, I also feel like some countries will simply ban Bitcoin, but if they do, they might compromise their economy.

china is the one to look at as they'll be the new super power i think.  And they are adopting it in some areas.  The ATM will be a good idea for main stream people who aren't tech savvy.

[cfrm]

Bitcoin will never be used as a mainstream salary payment method in society. It will only be used as salary in certain tech-companies, just as now.

Where I see its main usability for the average joe is for instance when you need to go abroad. Instead of changing your standard currency into local currency, you will simply exchange it for some Bitcoin, which can be used universally and with great advantages. Often when you go abroad you experience high fees on your credit card, both when using in-store and when withdrawing money from ATM's. Here Bitcoins will have a huge advantage when the infrastructure (stores etc) in near future will be expanded greatly, and be a mainstream means of payment in stores.

On-topic: As it has been mentioned it will not be necessary to change into cash. Instead of doing so, and risk getting tax authorities on your back, you can simply spend your Bitcoin instead of cash whenever the possibility arise.

[Altoidnerd]

To answer the original question, if youre asking what my exit strategy is....well, when bitcoin reaches price equilibrium -  when bitcoin is no longer gaining 1000% per year - no I won't really hold onto coins any more than I need to.  But I won't necessarily turn them into any sort of liquid funds at all.  There are lots of assets to own that do appreciate.  I am happily riding the bitcoin horse as it appreciates,and when it slows, I'll buy other investments.

One of the things I like about buyying bitcoins right now is that (besides the absurd returns) that they are the most liquifiable non-money around.  At its young stage, its not quite money - you have to sell it to get money out which makes it an asset (this is starting to change of course...it is slowly trasitioning from asset to money which is symbolic of its maturity and is its natural progression).

Anyway, if you hold bitcoin now, youd be wise to imagine never having some big cash out.  Buy some houses, buy a coffee packaging plant...buy a food truck...whatever your dream etc.  Do not "cash out".  Money sitting doesnt generate income.  Assets do.

[LiteCoinGuy]

I don't want to withdraw all 4 coins but maybe 2 if it got to $100,000.

But how the hell would you do it?

Do you think there'll be an ATM that will give you $100,000?

Would you have to do the ATM every day of say $3,000

Would you sell 0.01 (make 0.01 worth of paper wallets)

How did the norway guy offload his $800,000+

i would buy a pizza with it and then the pizza guy has to give you alot change   

[Hfleer]

It would be pretty crazy.  I know I wouldn't ask for physical cash in the mail for sure.  But how much cash do you really need to carry around anyway.