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I have an ENORMOUS amount of bitcoins - Should i sell them now or wait?

Discussion in 'Business & Tax Advice' started by lietuvis002, Dec 3, 2013.

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  1. lietuvis002

    lietuvis002 BANNED BANNED

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    I have around xx,xxx bitcoins (yes, its true) - Should i sell them now or wait ? do you guys think the value can double up to 2k/bitcoin, a little insight from saavy people would be appreciated

    thanks
     
  2. Veyron

    Veyron BANNED BANNED

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    While the hype is up and while they're still hovering around $1,000, I'd go ahead and sell them.

    Veyron
     
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  3. W9go

    W9go Jr. VIP Jr. VIP Premium Member

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    sell the half ;)
     
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  4. wellnessnot11

    wellnessnot11 Newbie

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    there are alot of people who think they will get to $10k.
    question is, how much is enough for you to sell them?
    maybe sell a portion now, and hedge against a drop, while at the same time stay open to banking off a rise.
     
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  5. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    You're talking about xx million dollars right there....at 1000 per BC, xx.xxx is xx million dollars.

    Sell them all and retire.
     
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  6. professional20

    professional20 Power Member

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    Is it really that easy to get rid of them? I don't quite understand the whole Bitcoin thing. 1 coin is worth around 1k right now, can you really find buyers that easily to sell, say 10,000 Bitcoins at 1k a piece?
     
  7. HerpDerpSlerp

    HerpDerpSlerp Power Member

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    if you really had that amount of bitcoins you would not be making a thread like this.
     
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  8. Masterptc

    Masterptc Regular Member

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    I think you should sell them youre already a millionaire.
     
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  9. SPQR

    SPQR Elite Member

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    Exactly, now he is a primary target for Bitcoin thieves. Chances are, he is not using proper Bitcoin safety standards such as encrypting the wallet location, keeping it offline, using multiple wallets for the Bitcoins, using USB sticks, etc. If I were you, I would close this thread. I personally would start slowly selling. As winter approaches, people are buying Bitcoin for x-mas needs. I would sell a majority then.
     
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  10. lietuvis002

    lietuvis002 BANNED BANNED

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    thanks,sounds like a good idea
     
  11. Typlo

    Typlo Jr. VIP Jr. VIP Premium Member

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    To put it in some math terms, assuming you have 10,000 bitcoins.

    -Sell 10,000 now and net $10 million.
    -Sell 5,000 now and 5,000 later (if the price doubles) and net $15 million.
    -Sell 5,000 now and have the price tank later, you still net $5 million.
    -Wait and the price doubles, you net $20 million.
    -Wait and the price tanks, you net nothing.

    So it basically comes down to, get $5 million now with the possibly of another $10 million later on. Or nothing now with the possibly of $20 million or worse case, nothing. You could also just take $10 million now, would you feel bad if the prices doubled even with $10 million in the bank? (of course pricing could be different than what I am using in the future)

    Unless you already have a lot saved up, seems like an easy choice.
     
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  12. lietuvis002

    lietuvis002 BANNED BANNED

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    of courrse they are offline, you really think i would keep this much online? they are literally unaccessie by anyone but me, i just needed the insight because im eally afraid if i sell them @1k, the next day they will be @2k, which would piss me off bad
     
  13. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    In fact if he dumped all those BC's on the market at once, he'd probably cause a market crash.
     
  14. jstover77

    jstover77 Executive VIP Jr. VIP Premium Member

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    Send me half for safe keeping. I will bury them in my back yard in my underground safe...wait wut?
     
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  15. Numbuh362

    Numbuh362 Elite Member

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    Congrats, you're a millionaire! If it was me I wouldn't risk it I'd sell em. You can always sell half rn and keep the rest.
     
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  16. Andrew Scherer

    Andrew Scherer Jr. VIP Jr. VIP Premium Member

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    So, where are you going to retire to?
     
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  17. Typlo

    Typlo Jr. VIP Jr. VIP Premium Member

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    And to give back to BHW, announce it for us, so we can buy up bitcoins after it crashes and make nice profits when they regain value.
     
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  18. Numbuh362

    Numbuh362 Elite Member

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    If you sell them I'll be upset if you don't open up an instagram account for all of your new cars.
     
  19. lietuvis002

    lietuvis002 BANNED BANNED

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    thanks for the great answer
     
  20. mickyfu

    mickyfu Jr. VIP Jr. VIP Premium Member

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    Not as much as it would piss you off if they were worth £10 tomorrow.
     
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