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Question: What is the minimum price before you start to spend/cash out?
< 1000
1000 - 1999
2000 - 4999
5000 - 9999
10,000 - 19,999
20,000 - 49,999
50,000 - 74,999
75,000 - 99,999
100,000 - 999,999
> 1,000,000
Never

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Author Topic: Spend Point  (Read 1486 times)
ScrapOfCat (OP)
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November 25, 2013, 09:28:30 PM
 #1

For the buy and holders,

what is the minimum price before you start to spend/cash out?

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Wilhelm
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November 25, 2013, 09:33:42 PM
 #2

I think somewhere about $100000 to $200000 per coin would be enough to buy a life without working.
But then again only cash out what you need Smiley

Bitcoin is like a box of chocolates. You never know what you're gonna get !!
lnternet
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November 25, 2013, 10:09:16 PM
 #3

When the position becomes too large in my portfolio

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tondaS
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November 25, 2013, 11:17:28 PM
 #4

I guess I will spend slowly as the price increases (hopefully)
zeroday
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November 25, 2013, 11:34:35 PM
 #5

At $5000 I would spend 5% of my bitcoins to buy a new home Smiley


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November 26, 2013, 12:06:42 AM
 #6

The issue is getting fiat and then investing it for some return when bitcoin as an investment is just magnitudes better than even producing cocaine. I could buy gold, but golds utility is almost zero.

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November 26, 2013, 12:13:28 AM
 #7

I think it all depends on timing for me.  All of the money I've invested in BTC i don't need, so if there was a situation where I needed to purchase something liarge, like a house, and I needed some extra cash for it, then i'd cash out.

But i don't think i'd ever take 100% out in case it keeps increasing in value.  There's always the fear that you'll miss out.

mgio
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November 26, 2013, 12:17:39 AM
 #8

I think it all depends on timing for me.  All of the money I've invested in BTC i don't need, so if there was a situation where I needed to purchase something liarge, like a house, and I needed some extra cash for it, then i'd cash out.

But i don't think i'd ever take 100% out in case it keeps increasing in value.  There's always the fear that you'll miss out.

There is also the fear it will crash. Money is worthless if you never spend it.

I cashed out about 30% at about 400. Of course, I wish I had waited till 800, but there was no way of knowing what would happen. So I'm happy with the profit I have and also happy I still have coins left. The answer is to sell slow as it rises so you'll never be left with nothing if we experience another huge crash again.
Siegfried
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November 26, 2013, 12:30:50 AM
 #9

Rather than spend my fiat income directly, I spend bitcoin now whenever I can to buy what I need. This helps the bitcoin economy. Then I use my fiat income to buy more bitcoins. But I do try to live frugally now and for the next couple years to buy as many bitcoins as I can. When the price exceeds 10,000 dollars then I will start to live a bit more comfortably.
kwest
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November 26, 2013, 01:22:48 AM
 #10

I'm already spending... but I have something specific that I want to buy, and I'll do it when it costs me less than 0.1 BTC.. right now it's slightly above it.

Okurkabinladin
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November 26, 2013, 01:52:30 AM
Last edit: January 25, 2017, 05:42:25 AM by Okurkabinladin
 #11

I think somewhere about $100000 to $200000 per coin would be enough to buy a life without working.
But then again only cash out what you need Smiley


You either have only two to three coins or live in most expensive place on Earth.

Most people I know of can make comfortable living on less than half million dollars. Its quite easy outside of London, New York or Dubai. For couple of decades, man. For couple of decades.
shmadz
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November 26, 2013, 02:01:14 AM
 #12

At $5000 I would spend 5% of my bitcoins to buy a new home Smiley




I also look forward to buying a home and skipping that whole mortgage thing, but I will need a much higher price than $5000, maybe $50,000?


btw, even typing the word "mortgage" makes my skin crawl.

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Sindelar1938
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November 26, 2013, 02:01:45 AM
 #13

Probably above 10k usd

Will buy smaller things below if I need them

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November 26, 2013, 02:09:31 AM
 #14

I think somewhere about $100000 to $200000 per coin would be enough to buy a life without working.
But then again only cash out what you need Smiley


You either have only 2-3 coins or live in most expensive place on Earth.

What do you mean by that? 
When I retire, i'll probably need $1.5 Million at least just to survive off of that.  If you're a lot younger than that you'll need several million dollars to live off of.

This is based on North American standards of life.

kwest
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November 26, 2013, 03:03:02 AM
 #15

I think somewhere about $100000 to $200000 per coin would be enough to buy a life without working.
But then again only cash out what you need Smiley


You either have only 2-3 coins or live in most expensive place on Earth.

What do you mean by that? 
When I retire, i'll probably need $1.5 Million at least just to survive off of that.  If you're a lot younger than that you'll need several million dollars to live off of.

This is based on North American standards of life.

I live in Sweden, and a rough estimate of what I would need to retire right now and never have to work another day in my life (I'm 30) would be about $800k. That's if I stay in Sweden, remain single, and don't have kids. Otherwise probably triple that if my would be wife didn't want to work either. Now, seeing as I actually want to work 3-4 hours a day with something meaningful.. I would only need about half of that in savings. As for houses.. you can get one for less than $150k where I live.

But... if bitcoin actually takes off for real I would probably not stay here. I'd spend at least 5 months of the year abroad, most likely in a cheaper country with warm weather (Peru, Philippines, etc.). I could cut my costs quite a bit doing that (as long as I sell or rent out my apartment/house in Sweden while I'm gone).
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November 26, 2013, 04:23:45 AM
 #16

I'm already spending... but I have something specific that I want to buy, and I'll do it when it costs me less than 0.1 BTC.. right now it's slightly above it.
That sounds pretty sketch. Any chance you'd tell us what it is?
emanymton
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November 26, 2013, 04:27:47 AM
 #17

I'm already spending... but I have something specific that I want to buy, and I'll do it when it costs me less than 0.1 BTC.. right now it's slightly above it.
That sounds pretty sketch. Any chance you'd tell us what it is?
All I want for Christmas is a gram of nice crack...
ScrapOfCat (OP)
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November 26, 2013, 08:51:11 PM
 #18

How will you begin to spend once you have reached the right price?

My plan involves half of my bitcoins being worth 1 million USD.  If/when that happens, I'll start spending the first half of my coins while leaving the other half to continue appreciating. 

How about you?

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November 26, 2013, 09:25:51 PM
 #19

simple: really need to buy something expensive which already costs less than 50% of your coins? go for it. not yet? wait. then repeat.

i am satoshi
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