Will You Sell when BTC Hits $1,000?

[Lauda]

If the price of Bitcoin ever gets that high that's when hyperinflation will have finally hit.

We are almost half way there.

No, I wouldn't sell mine.

[GodfatherBond]

I will mine & hold forever! ...or at least until 10.000$

[smoothrunnings]

Don't forget .........

CAPITAL GAINS !!!!!!!!!!!!!!

If a dude is holding 350 bitcoins and makes $350,000 ......

Some such dudes are going to have to give $100,000 of it to the government "just because" ....

Maybe the correct question is, how many people are applying for citizenship in Germany right now? 

Since Bitcoin is not regulated no Government can prove that you made any amount from selling your Bitcoins. So it is a capital gain? No.

Secondly if you live in the United States it's the income tax law is illegal as only about half the states maybe even less signed the bill. So before you get on about any of this just make sure you have verified that there is a law in your city or town that says "you must pay income tax" and not some rule that the IRS has made up.

[smoothrunnings]

I will mine & hold forever! ...or at least until 10.000$

And what if in 5 years it hits $500k, you will probably wish you hadn't cashed in!

[doof]

Yes, ill sell 5 and buy myself a brietling. 

[freedomno1]

5 And then wait for the mega crash and buy 10 more XD
Also FU options but staying around partial fun for all the vets at 1000 newbies will be eating our btc
But for speculation purposes goes with all cash out too
If I lose that round well it wasn't that bad of a cashout but then I can go to
My number one regret in bitcoin thread and post
Sold all my bitcoins at 1000  XD

[francong]

I think I'll hold till my bitcoin can pay for the downpayment of a flat. 

[AndrewWilliams]

I love these posts. Will you cash out when it reaches x? Cash out into what? I'm still cashing into BTC because I prefer that over the governments monopoly money. I keep out what I need to live, I don't have any expenses currently I need to cash out for. Only play with what you can afford to lose.

Good point.

The price of Bitcoin increases as adoption of it grows more widespread.

So, when it does reach $1,000 or $10,000, at that point you can probably buy whatever you want with it that you could with cash




What a world.

[jbreher]

there is definitely going to be a crash around 1,000k.. i've never seen so many people say they are going cash out (at 1k). there's even a sitewide celebration/party going on.

What makes you feel that the party will lead to a huge cashout?

I'll pay two XBT for the party, and cash in maybe two additional for travel arrangements. The rest (feeble though they'll be) I'll hold onto so I'll be able to take part in the XBT=$2500USD party (currently unannounced, though perhaps not that far off).

[Elwar]

I made the mistake of selling some at $99 thinking that it would crash to under $95 so I could make a little bit of money.

It kept going and I had to buy back in around $110.

We will likely hit $1,000 some time around Thanksgiving.

[inform]

I didn't add the option to cash out partially because i want to know how many people are bailing at $1,000.  

I know most people will cash out partially...

Its honestly the most difficult question on earth right now for me.  Its obvious as we approach $500 that this is going to be an issue on the table for all of us.

How does one look at thousands (hundreds of thousands?) of dollars earned on the most risky investment known to mankind, and not "Grab" it and run?

80% Say NOT Sel! 

Answer is how i feel in open this topic true

[Lauda]

I made the mistake of selling some at $99 thinking that it would crash to under $95 so I could make a little bit of money.

It kept going and I had to buy back in around $110.

We will likely hit $1,000 some time around Thanksgiving.

Don't make the same mistake again.

[Sindelar1938]

Not a chance

I want more,more,more

[saddambitcoin]

it is hard to hold when you know it should be worth at least $10,000 but you have to wait several years.  i'd like a bitcoin amnesia pill so i can forget ever having bought them

[applelover]

Since Bitcoin is not regulated no Government can prove that you made any amount from selling your Bitcoins. So it is a capital gain? No.

Secondly if you live in the United States it's the income tax law is illegal as only about half the states maybe even less signed the bill. So before you get on about any of this just make sure you have verified that there is a law in your city or town that says "you must pay income tax" and not some rule that the IRS has made up.

how well has this defense worked out for others in the courtroom so far?

[Qoheleth]

Didn't vote. I'm definitely not targeting $1/minicoin as an exit point, but that far ahead, it's possible that I'll have a sudden need for an infusion of national currency due to IRL factors along the way (which would sap, but not totally deplete, my wallet).

[beetcoin]

I made the mistake of selling some at $99 thinking that it would crash to under $95 so I could make a little bit of money.

It kept going and I had to buy back in around $110.

We will likely hit $1,000 some time around Thanksgiving.

i find that doubtful. it would have to go up $42.80/day to hit $1,000. the boom happened already, i see the price stabilizing a bit more within the next 2 weeks. unless there's a gamechanger or some new news that is.

[sushi]

If more bitcoin demands are comming in, it may be possible.  I locked some coins away.  I'll check on it in 2-3 years!

Hopefully by then a sweat story, instead of just a piece of paper with no value

[johnyj]

The higher the price, the less the necessity to cash out large amount of coins, so the coin supply on the market will continuously shrink, thus create more upside potential

[Wekkel]

The higher the price, the less the necessity to cash out large amount of coins, so the coin supply on the market will continuously shrink, thus create more upside potential

The deflationary melt-up.

I suspect more people still frame btc value to fiat value instead of the other way around. The fight for $1,000 will be monumental.