Good for you! Many other people wouldn't want to be bothered by them. And since you're so sure it will go up from ~350 to 1000 soon, you shouldn't be wasting time here! You should be taking every penny you can get and buying bitcoins!
I appreciate your concern. I am keeping them not for more gains, but to pass it on to my child eventually, although I believe single bitcoin will end up costing north of $25,000 since #1 there is only limited number being eventually in "circulation", #2 you can safely use 0.0001 bitcoin to process transaction worth $5.
Obviously, you are absolutely right. Then again, as much as I despise myself for it I did make a killing last time a bunch of idiots started buying them for >20$ a pop so I wouldn't mind. Taking money from speculators and giving money to geeks... I'm sure someone could spin this into something positive.
I don't think it's going to hurt bitcoin, it's proven itself to withstand it and is here to stay.
Awesome. I have a little regret that I wasn't brave enough to sell at $1000. But then I'd have to decide when to buy and I'd probably chicken out and already buy for something like 800$. And I'd be risking the scenario I'm most afraid of that I get stuck without bitcoins and I can buy much less of them because the prize never goes below for what I sold them.
Or they could end up having zero value, so there are plenty of people looking to spend some of their btc. It seems unwise to spend all of your btc at this point, but if I had a bunch I'd be happy to spend some right now.
Do you think the price of bitcoins will rise over the next x years? What value of money y could you lose and be able to shrug it off?
Buy $y of bitcoins, and write yourself a guarantee that you'll sell it in today + x years.
Value for me a while ago of y was $1,500 and x was five years, and I buy $150 a month every month on the same day, with a get-out clause at a specific valuation.
This is a long term investment for me so I don't plan on trying to time the market or cash out early. I fully expect to see Bitcoin rise above $10,000 in 1 year.
Is it a billion dollars, though? I mean, if you started selling them, the market price would likely go down. In other words, are there enough people looking to buy 94504 BTC at current market value?
The 1000 USD is relative to the current price I suppose. So if I have access to an account with 500K bitcoins and I sell 400K bitcoins so that the price drops to 0.01 (like it did), and then I transfer the 100K bitcoin left in the account to my bitcoin address(and I can with the driven down exchange price) when the price goes back up I would have made a killing.
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