darkangel11 (OP)
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December 02, 2023, 08:45:27 PM Last edit: December 02, 2023, 08:59:55 PM by darkangel11 |
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Imagine a situation where you own a house and a piece of land it's built on. You estimated the value of the whole thing to be $500k. One day someone knocks on your door and offers you $2m all of a sudden. Will you sell or suspect they know more than you? Maybe there's an oil deposit underneath your house? Maybe there's geothermal energy source? Maybe an international company has plans to build a facility nearby and will need your land for whatever price?
I'm asking this because if the funds get approved all at once there will be a large pressure on bitcoin's price and supply is, as we all know, limited. Nobody buys bitcoin to sell it cheaper, so if they offer you $100k, they think it will go higher. If they offer $1m it's again going to go higher according to them. Will you simply give it away once someone hands you $100k, or decide that it's cheap and they know more than they're willing to share?
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Churchillvv
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December 02, 2023, 08:59:26 PM |
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This requires a rational thinking, you have to think more than twice lol ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) If I sell at the price of $100k/or$1 million to them can I still buy another one with that $100k/or$1 million ? If yes then I will sell to them and immediately buy another. But if No then won't sell because surely nobody buys any thing to loss it always for profit reasons hence for that same reason wouldn't sell.
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NeuroticFish
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December 02, 2023, 09:43:11 PM |
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OP, your question and example are not great. Afaik in most countries oil or other resources from under your property actually belong to the state, not to you. Plus, nobody will give you twice the market price for bitcoin, they will just buy what is available.
Even more, it's cheaper to seed some panic and make some sell than buying at double the price.
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Jegileman
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December 02, 2023, 10:15:58 PM |
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Receiving this type of offer will make me think for a while whether to agree to that price or not. Some opportunities come once but again what if I don’t sell now and I don’t get or expect this type of offer again, I will just quickly sell it and make use of the profit. If he’s paying me a money that is two times bigger than the worth of bitcoin he needs from me, I will sell it, buy that same quantity and then use the profit for something else. But why will someone even offer to pay you a big amount that what you want to sell is not worth, bitcoin does not fit into this example but maybe a piece of land.
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Marvelman
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December 02, 2023, 10:29:51 PM |
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You raise a reasonable point - but it's not so straightforward. We can't assume some anonymous buyer is willing to pay $100k for bitcoin based on realistic valuation. For all we know, they're just gambling that prices keep ascending irrespective of fundamentals. And if their speculative bet proves wrong, then what? The market could come crashing down. So Id be cautious about selling to them at such lofty sums without deeper insight into their rationale and risk tolerance and at these dizzying heights, bitcoin feels more unpredictable than ever.
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Casdinyard
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December 02, 2023, 10:32:42 PM |
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Everything for a price. At this point I stopped picking sides and which is which already. I might as well just do whatever I can in my power to make sure that the industry I am in is alive and kicking, and that of course, I’m making money in the process. Sometimes that involves inviting the “enemy” into your house and letting them kick. Their feet up comfortably.
I think people shouldn’t be so detested by the idea of a new player from the outside market involving themselves in bitcoin and cryptocurrencies. That’s part of our growth and development as a technology and economy and so we must embrace it wholly, and take the good with the bad sometimes.
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_BlackStar
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December 02, 2023, 10:38:26 PM |
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Bitcoin will always have two cycles and we all seem to agree that the price will not forever be higher and higher. Imagine if today you sold it at $100K and you could buy 2x as much in 2 or 3 years later at a lower price - isn't that a possibility we shouldn't ignore?
Let me just remind you one thing - bitcoin is a very volatile asset and its price can move in any direction. ETFs won't be able to keep prices high forever without a correction - that's simply impossible to expect. The price could drop at any time for any reason - so I would be less afraid to part with bitcoin if I had found a clear target for returns that was in my favor.
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rat03gopoh
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December 02, 2023, 10:47:14 PM Merited by darkangel11 (1) |
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Will you simply give it away once someone hands you $100k, or decide that it's cheap and they know more than they're willing to share?
With current market conditions? I'll be realistic, I would sell it if I could possibly buy it back somewhere else. ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) I think this will also be done by average holders without thinking hard. OP's question actually also tests how greedy the answers will be.
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hatshepsut93
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December 02, 2023, 11:47:00 PM |
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Imagine a situation where you own a house and a piece of land it's built on. You estimated the value of the whole thing to be $500k. One day someone knocks on your door and offers you $2m all of a sudden. Will you sell or suspect they know more than you? Maybe there's an oil deposit underneath your house? Maybe there's geothermal energy source? Maybe an international company has plans to build a facility nearby and will need your land for whatever price?
Your analogy has a huge flaw. Bitcoin is fungible, houses are not. Like you pointed out, there can be reasons why a house could be worth many times more than the house next door. But bitcoins are worth the same as any other bitcoin, if you ignore that ordinals nonsense. There is no way anyone will offer to buy coins for higher than the market prices. They will just go on the market and buy as much as they want there. And I will say some portion of my coins if the price will rise high enough. I will always hold some Bitcoin in my portfolio, but I don't plan for it to be the largest share of my portfolio - that's an unnecessary risk that in my book is not worth the potential outcomes.
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Tytanowy Janusz
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December 03, 2023, 07:36:36 AM |
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I'm asking this because if the funds get approved all at once there will be a large pressure on bitcoin's price and supply is, as we all know, limited. Nobody buys bitcoin to sell it cheaper, so if they offer you $100k, they think it will go higher. If they offer $1m it's again going to go higher according to them.
the main question is... how do you know who is bidding. Perhaps it is blackrock or perhaps it is a group of small investors excited about ETFs because the media has been promoting it for years? In the allegory to home you described in your post. How do you know that the person who offers you these $2 million for your house knows more than you while he might be a weak-minded person manipulated by media propaganda, that the plot of land on which you have your house is the best in the world? What do you think is the case now? is bitcoin now quiet, no one is talking about ETF and we are dealing with "someone knows better", or maybe everyone knows perfectly well that bitcoin ETF is about to be accepted in next month of two and media is exaggerating it to the limit to push small investors to buy? Back to blackrock. they don't need an ETF to invest in bitcoin. They need bitcoin ETF to earn a fees from people who will buy their ETFs. Blackrock doesn't care whether they make money or lose money. They earn fees, so launching an ETF at $60,000, at the top of the local bull market, when retail is eager to buy, just before the correction to $30,000 is an ideal scenario for them.
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Tony116
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December 03, 2023, 08:02:35 AM |
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Although your example is not completely accurate when comparing real estate with bitcoin because the value of real estate depends on many different factors such as geographical location...That's why real estate prices are not the same. Meanwhile, you can buy bitcoin on any exchange. Buying bitcoin has never been difficult, why would someone be willing to pay a higher price to buy your bitcoin when they can buy it on exchanges at the real price? Furthermore, bitcoin is also an investment, so as long as you are profitable and satisfied with it then you should sell it, there is nothing wrong with us selling bitcoin to make profit. Bitcoin is a financial market, buying and selling is also a way to make profits, not just holding for profit.
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mindrust
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December 03, 2023, 08:08:00 AM Merited by darkangel11 (1) |
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I ain't selling them shit. Not my house, not my car, not my cat and definitely not my crypto. They can have this " " if they like. Nothing. I may sell my assets to somebody when the time is right but I decide that, no them. When they come up with a number for your asset, it already means they are going to rip you off. Like you said, it means the asset is worth way more than the price they offer. If you were going to sell this asset anyway, then raise the price and don't let it go cheap. If they don't buy, that's their decision. Tell them to gfy.
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hugeblack
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December 03, 2023, 08:20:14 AM |
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The one who determines the value is you, which varies according to your circumstances. In the end, there is a price that will be fair for you for Bitcoin. If we say to someone, “I will give you $200,000 for Bitcoin,” it is a profitable deal, but it may be foolish after 50 years. The same is true. About 10 years ago, the price of $2,000 for Bitcoin was exaggerated. But today it is stupid to sell Bitcoin for that amount, so as long as you see that the price of Bitcoin is fair, sell.
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pooya87
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December 03, 2023, 08:47:09 AM Merited by darkangel11 (1) |
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Your scenario and the example you used has only one possible answer: YES. It's pretty simple, if someone offers you $100k for each bitcoin that you own, you should sell them your bitcoin without hesitation because unlike the house in your example you can buy the same exact bitcoins again with the money you just got! ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) You see, bitcoin supply is limited but the there is enough liquidity in the market that can not prevent you from making that trade. A better question would have been whether people were willing to buy the Blockrock nonsense instead of buying bitcoin directly in first place. The answer to that is unfortunate because a lot of people are still preferring the custodial and centralized option rather than the decentralized and correct way of acquiring bitcoin.
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target
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December 03, 2023, 08:58:59 AM |
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You may have to look the chart first whether $100k is the ATH or not, then you decide you can sell or not. If its the ATH base on the chart, then yes sell it. Wait until the market couldn't already sustain the the sell pressure because ultimately the more sellers will come to dump.
To me even if its not the ATH as long as its almost right up there, I may even sell. But you may really have to look at the chart because they are saying that the ATH may hit $200K. After a period of time, you can buy back and maybe your 1BTC will turn 3BTC.
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Taskford
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December 03, 2023, 09:04:20 AM |
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I'm asking this because if the funds get approved all at once there will be a large pressure on bitcoin's price and supply is, as we all know, limited. Nobody buys bitcoin to sell it cheaper, so if they offer you $100k, they think it will go higher. If they offer $1m it's again going to go higher according to them. Will you simply give it away once someone hands you $100k, or decide that it's cheap and they know more than they're willing to share?
I maybe more realistic and provably would able to sell if they want to ask more higher at the market price since that $1m still a speculation so would decide to sell at the price they offer and then just wait for another dip to buy new BTC to hodl. We know its impossible for bitcoin to go up since there's should be a correction that provably will happen and also for sure that Blackrock itself will sell if they see something good figures to sell and take some profit. But if you can't sell it at what they offer as you believe much on bitcoin future then its really fine. But for sure majority will play on its current condition and will think about those corrections that might possibly occur since this is what bitcoin nature so its still good to ride with its flow to earn more.
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yhiaali3
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December 03, 2023, 09:14:28 AM |
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I do not expect that you will find a single answer to this question, because the answer to this question varies depending on the nature of people. Some of them will sell immediately because they think the price is high or that it is suitable for them, while others will hold on to Bitcoin more and wait for the price to rise more and more.
For me, I set a clear target for the price of Bitcoin. If the price reaches the target, I will sell and I will not be greedy because it may fall later and I will regret missing the opportunity. However, if I think the price may rise more, I will sell half the quantity and hold the other half.
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December 03, 2023, 09:19:28 AM |
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I will let it go at the right price, because I can use that money to pay off debt and also to invest it to get passive income to secure my future. I always had a 80/20 split in all my Bitcoin investments... 80% of all the bitcoins I bought went to hoarding... and 20% was spend on daily expenses. So, if I sell the coins I hoarded... I can then use the passive income from the proceeds of the investments to buy more coins. Yes, I would be starting at the bottom again, but I will tick a box to be able to have a passive income that will sustain me. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
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Blitzboy
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December 03, 2023, 09:31:00 AM Merited by darkangel11 (1) |
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Bitcoin's inherent value isnt hidden like an oil deposit; its transparent in its design and potential. If someone offers $100,000 for Bitcoin, they may think that its value will go up, but that doesnt mean they know something secret. They are betting on how the market will see things in the future. We need to be smart, not just about valuing things but also about how markets work. Yes, sudden, big investments could drive up the price of Bitcoin because there arent many of them. But its not just supply and demand. Its about having faith in Bitcoin's future as a decentralized asset that cant be controlled by standard markets. If you are given a high price, you should ask why. They dont just want to know more; they want to understand how Bitcoin's role in the financial world is changing. They may see promise that you havent seen, or they may just be guessing. Knowing the difference is a sign of wisdom.
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hd49728
Legendary
Offline
Activity: 2184
Merit: 1046
Exchange 250+ Coins With 0% Fees
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December 03, 2023, 09:38:10 AM |
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Nobody buys bitcoin to sell it cheaper, so if they offer you $100k, they think it will go higher.
Most of people buy highs, sell lows and only the minority of market participants buy lows, sell highs because successful investors or traders are less than failed ones. It's explained because most of people started to actually pay attention the market, spend money when it is hot enough and price already rose a lot to give high and attractive enough ROI. Then they feel convincing enough to join the market, and stuck there with a bear market. In a bear market, with a lot of bad news, they will turn to be uncertain and panic to sell their coins at lower prices than where they bought and entered the market.
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