People who cashed out and got rich?

[the_poet]

Just out of curiosity, do you know of anyone, perhaps early adapters, who amassed a large amount of BTCs back in the day and managed to cash out? I'm not talking about people who currently own tens of thousands of BTCs, but those who went a step forward.

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[ljudotina]

Or is it step back? If you assume that BTC will rise even more ofc...

[the_poet]

Or is it step back? If you assume that BTC will rise even more ofc...

Perhaps, but I'm referring to people who were able to convert the whole investment into fiat, regardless of whether they reinvested it or not.

[empoweoqwj]

Just out of curiosity, do you know of anyone, perhaps early adapters, who amassed a large amount of BTCs back in the day and managed to cash out? I'm not talking about people who currently own tens of thousands of BTCs, but those who went a step forward.

Intelligent people "cash out" gradually as the price increases, and do things like buy lambos

Anyone who has cashed out their entire bitcoin collection already is probably deeply regretting it, because they probably did it at $200 or less per coin.

[EvilPanda]

The whole question is badly formed. People don't need to cash out to be rich. You can buy gold, land and many other things with btc, so converting to fiat doesn't mean you get reacher, It's the other way around.

[the_poet]

The whole question is badly formed. People don't need to cash out to be rich. You can buy gold, land and many other things with btc, so converting to fiat doesn't mean you get reacher, It's the other way around.

Fiat or any other thing that is commonly accepted as 'wealth' in everyday life, including real estate, gold, etc. Any stories you guys know of?

[empoweoqwj]

The whole question is badly formed. People don't need to cash out to be rich. You can buy gold, land and many other things with btc, so converting to fiat doesn't mean you get reacher, It's the other way around.

Fiat or any other thing that is commonly accepted as 'wealth' in everyday life. Any stories you guys know of?

For obvious reasons, most people don't publicly announce getting rich from bitcoins

[Jeffrey]

Anyone who has cashed out their entire bitcoin collection already is probably deeply regretting it, because they probably did it at $200 or less per coin.

This.

People who had litteraly thousands of coins were most likely already feeling awesome when the price was $15, maybe some waited a bit more and cashed at $100, perhaps an odd one here and there who cashed at $200-ish, but I think that's about it.

Oh and I'm not counting the cases of "oh yeah I forgot I had 5000 coins lol now I'm a millionaire" but only thinking of people who were active in bitcoins all the time.

[the_poet]

The whole question is badly formed. People don't need to cash out to be rich. You can buy gold, land and many other things with btc, so converting to fiat doesn't mean you get reacher, It's the other way around.

Fiat or any other thing that is commonly accepted as 'wealth' in everyday life. Any stories you guys know of?

For obvious reasons, most people don't publicly announce getting rich from bitcoins

I know, that's why I'm referring to 'any' stories and I'm not asking for names

[empoweoqwj]

The whole question is badly formed. People don't need to cash out to be rich. You can buy gold, land and many other things with btc, so converting to fiat doesn't mean you get reacher, It's the other way around.

Fiat or any other thing that is commonly accepted as 'wealth' in everyday life. Any stories you guys know of?

For obvious reasons, most people don't publicly announce getting rich from bitcoins

I know, that's why I'm referring to 'any' stories and I'm not asking for names

Well the most famous one I know is the guy that bought the lambo with his bitcoins. But I'm not sure that qualifies as I'm sure as heck he still has plenty of coins left. Does a lambo qualify as "wealth" in your book?

[the_poet]

Does a lambo qualify as "wealth" in your book?

Sort of.

[EvilPanda]

@the_poet: I don't plan on cashing out, ever. If you compare the bitcoin market state today and year ago, you'll see that in a year-two there will be lots of places where you'll be able to buy everything using only bitcoin.

As for the question: I don't have a source, but I remember that laszlo [known for a 10kBTC pizza] some time ago cashed out and built himself a villa.

As far as villas go, I plan on someday building [not buying] for myself something like that:

Seen an interview with a kid who built it few years ago. Cheap, natural houses are getting better and better.

[guybrushthreepwood]

@the_poet: I don't plan on cashing out, ever. If you compare the bitcoin market state today and year ago, you'll see that in a year-two there will be lots of places where you'll be able to buy everything using only bitcoin.

As for the question: I don't have a source, but I remember that laszlo [known for a 10kBTC pizza] some time ago cashed out and built himself a villa.

As far as villas go, I plan on someday building [not buying] for myself something like that:

lol, is that legit? I'd love to live in one of them.

[EvilPanda]

@the_poet: I don't plan on cashing out, ever. If you compare the bitcoin market state today and year ago, you'll see that in a year-two there will be lots of places where you'll be able to buy everything using only bitcoin.

As for the question: I don't have a source, but I remember that laszlo [known for a 10kBTC pizza] some time ago cashed out and built himself a villa.

As far as villas go, I plan on someday building [not buying] for myself something like that:

lol, is that legit? I'd love to live in one of them.

Yes it is. If you build a home on a trailer it doesn't qualify as a structure and you don't have to pay rent for it. If you manage to get a free water supply and put solar panels on the roof you're living for free.

[guybrushthreepwood]

@the_poet: I don't plan on cashing out, ever. If you compare the bitcoin market state today and year ago, you'll see that in a year-two there will be lots of places where you'll be able to buy everything using only bitcoin.

As for the question: I don't have a source, but I remember that laszlo [known for a 10kBTC pizza] some time ago cashed out and built himself a villa.

As far as villas go, I plan on someday building [not buying] for myself something like that:

lol, is that legit? I'd love to live in one of them.

Yes it is. If you build a home on a trailer it doesn't qualify as a structure and you don't have to pay rent for it. If you manage to get a free water supply and put solar panels on the roof you're living for free.

How much does it cost? I want one.

[guybrushthreepwood]

@the_poet: I don't plan on cashing out, ever. If you compare the bitcoin market state today and year ago, you'll see that in a year-two there will be lots of places where you'll be able to buy everything using only bitcoin.

As for the question: I don't have a source, but I remember that laszlo [known for a 10kBTC pizza] some time ago cashed out and built himself a villa.

As far as villas go, I plan on someday building [not buying] for myself something like that:

lol, is that legit? I'd love to live in one of them.

Yes it is. If you build a home on a trailer it doesn't qualify as a structure and you don't have to pay rent for it. If you manage to get a free water supply and put solar panels on the roof you're living for free.

How much does it cost? I want one.

In Georgia those are called "trailers".....


~BCX~

But I bet they don't look as pretty and picturesque as that.

[SirBitsalot]

As far as I see it, any chance of getting rich will come later when BTC gets more popular. Eventually, if it REALLY hits, you'll want to cash out right away... the time will come. It's all about timing!

[phazon307]

That would be so fun to build and live in if it was made right.

[empoweoqwj]

As far as I see it, any chance of getting rich will come later when BTC gets more popular. Eventually, if it REALLY hits, you'll want to cash out right away... the time will come. It's all about timing!

If it REALLY hits, you won't need to "cash out" because you will be able to buy everything in bitcoin. Its a currency you know

[tvbcof]

I consider myself a mid-adopter.  Very early on, and probably in my buying phase, I planned to cash out at 10x if we got that far to get back my initial speculative outlay.  Then lose about 1/2 of my BTC at 100x.  I'm in the process of doing the latter, but getting at my deep storage wallets is deliberately time consuming and laborious.  Plus, I've got all the fiat I want and need for the immediate future and I'm getting a bit greedy and hoping for further increases over the course of the year.

As for my remaining stash, I've not thought about it in detail like the earlier targets.  It'll be a matter of watching the evolutionary twists and turns that Bitcoin makes, watching what happens in alt-cc-land, seeing what other hobbies and interests I might develop which would benefit by cash-flow, etc.

Buy yes, I intend to die with a relatively small number of BTC under my control.  I did my duty of mopping up excess liquidity back when that was a problem and I plan to continue my obligation of releasing the BTC back into the economy as and if they become increasingly dear.  I've never been so handsomely rewarded for doing so little