I would first and foremost review my security model. If Bitcoin shot up like that, you'd know two things:
The economy is well and truly fucked
Bitcoiners now have a massive target on their backs
You should assume that exchanges will shortly get hacked / compromised, and your purchasing history and KYC info made public.
You should also assume that the homes of Bitcoiners will start getting raided by criminals and governments alike.
Depending on the situation, you might want to upgrade to multisig provided you have enough secure locations and don't anticipate needing to flee the country.
I would most likely sell about 2BTC and keep the last 0.7BTC that I own, but it really depends.
If it was tomorrow (literally) I would convert it to fiat, even with inflation, it would still cover most of the expenses that me and my family have for years to come and maybe until the day I die for sure (yeah I'm quite old).
If this happens in years to come, it would depende if the 1M$ is still able to put food on the table or it's just enough to buy a nice day at a spa, so I would keep stacking.
Maybe and I hope so too, but I do look for what's next and being able to give my family a better future is something that I would do in a heartbeat, everything that comes after is always welcome, but looking how stuff is right now... not sure what to expect.
build a small community of good people where you are, hopefully at least 1 doctor and 1 ranch or property with extra space, food and water source renewable, do firearm and survival training together.
I can cross most of that out, just family thought, and currently investing in wind and solar, but it's a very slow process when you're limited in funds.
Not advisable to tell people how much you have. You might mistakenly reveal your real identity somehow.
It might take a long time, but I think it's a good idea to treat one's stack as if it had 10x purchasing power. That way one is better prepared in case bitcoin continues to catch on.
I'm honestly not worried at all, there's about 8 billion people in this world, sure having some trail on these forums is something but I haven't used any personal information nor my usual 'username' or even the e-mail address, I don't see the point on making myself disappear just because some amount of bitcoin laying around. But I totally get what you mean.
Getting a Siberia grade Lada Niva (has a crank to back up in case of -50'C temps), and an international drivers licence and go to Novosibirsk to search out a farm and a nice siberian lady to live on it with.
We are talking about a 33x at this point btw, many people will suddenly have a lot of surplus... Probably prices of bitcoiner items will skyrocket lol.
If you don't have guns/ammo before Bitcoin hits $1M, you won't be able to get any after, because the gun stores will already be empty. Americans have a habit of buying guns/ammo whenever anything happens: COVID, Christmas, Cyber Monday, 9/11, presidential elections, mass shootings, the president stuttered a little bit -- the list goes on.
$1M/BTC would imply that unemployment and inflation are significantly higher than now. In that scenario, I would probably have lost the job I have now, and I'd probably be looking for another job. If I couldn't find another job, then I'd have to start eating into my savings (in whatever form it is at that time). If I had 1 BTC (I don't), who knows how long $1M would last during hyperinflation.
Buy more, the next halving is gunna make it even more scarce.
BTC hits 2milly... Ah well, continue my DCA.
3milly? You gotta ask? Answers still DCA some more.
Oh, what a delightful scenario to wake up to! If Bitcoin were suddenly worth $1 million, I would naturally scramble to organize a worldwide celebration in honor of this groundbreaking event. We'd have Bitcoin-themed parades, fireworks spelling out cryptocurrency acronyms in the sky, and of course, an extravagant feast where everyone dines on virtual coins. It would be the party of the century, all thanks to the miraculous rise of Bitcoin!
Hi,I've got some exciting news for you, I can teach you how to turn your $200 into a whopping $5,100 in 4 hours! investing on bitcoin without interrupting your daily schedules or sending money to anyone.
TEXT ME IF YOU ARE INTERESTED FOR MORE INFORMATION:📞
WhatsApp: +1 (424) 844 7430
Google chat: christineduff300@gmail.com
Telegram Username: duff212
So you're telling me that with about 50,000$ you'll be able to leave your country and start a live elsewhere? How are you going to pay expenses with only 50k$? Even in the most remote country with the cheapest living costs possible you'll need much more than that, even if you keep taking small amounts every now and then there's no guarantee (sadly) it won't collapse and converting might not even be an option after.
Oh believe me, I know, but it won't get you far, specially if you want to stay connect with the rest of the world. I went to a country in Africa as a volunteer and even thought the people, food and view ws amazing, you couldn't stay in touch in a stable way. Maybe you are today, with easy access to Starlink, but not then. And even with 50k$ in a country like this, won't get you an eternity...
I doubt he needs an eternity, just a second chance in a place that respects property rights, civil liberties, etc (not sure which country he lives in or what makes it shitty but it's usually those things). My parents fled a shitty country for a much better country and all they had was two suitcases, two kids, and $500.
I would first and foremost review my security model. If Bitcoin shot up like that, you'd know two things:
You should assume that exchanges will shortly get hacked / compromised, and your purchasing history and KYC info made public.
You should also assume that the homes of Bitcoiners will start getting raided by criminals and governments alike.
Depending on the situation, you might want to upgrade to multisig provided you have enough secure locations and don't anticipate needing to flee the country.
deleted by author
deleted by author
deleted by author
Probably make some coffee, take a shower.
lol
This comment was featured on This Day in Stacker News.
I'll quit my job and start working full-time on bitcoin projects
Well, you can also do that now...
No. I cannot do it now. I'm currently learning the Bitcoin script language and the bitcoin-cli API library
Regret the gradual approach I've been taking to building my stack.
You are still ahead of the curve and your approach is absolutely correct…. Other than in this very unlikely case :)
Wrong. The expected value is still losing. You dollar speculating cucks encouraging each other doesn't make you more right. #GetOnZero
That's certainly my operating assumption.
Our stacks probably wont matter for a long time if this happened today
They'd matter more than my fiat stack, though.
You are stacking, we are early.
Keep very, very quiet - it’s all about to kick off.
popcorn at the ready
Its already worth over $1M. People just dont realize it yet.
This!
Yep!
Run to El Salvador
I suggest flying.
You can do that anytime... why wait for a stupid price target to do it?
Stay humble and stack more sats
this is the correct answer
I would most likely sell about 2BTC and keep the last 0.7BTC that I own, but it really depends.
If it was tomorrow (literally) I would convert it to fiat, even with inflation, it would still cover most of the expenses that me and my family have for years to come and maybe until the day I die for sure (yeah I'm quite old).
If this happens in years to come, it would depende if the 1M$ is still able to put food on the table or it's just enough to buy a nice day at a spa, so I would keep stacking.
bro if it goes to 1mil overnight its not stopping there https://i.postimg.cc/tgzsJw5H/value-of-gold-mark-in-paper-marks.jpg
Maybe and I hope so too, but I do look for what's next and being able to give my family a better future is something that I would do in a heartbeat, everything that comes after is always welcome, but looking how stuff is right now... not sure what to expect.
build a small community of good people where you are, hopefully at least 1 doctor and 1 ranch or property with extra space, food and water source renewable, do firearm and survival training together.
I can cross most of that out, just family thought, and currently investing in wind and solar, but it's a very slow process when you're limited in funds.
wow good stuff bro
Dude, you gotta work on your opsec.
I'm good :)
Sell for something which is going to be more worthless? Why?
deleted by author
In total yes.
Not advisable to tell people how much you have. You might mistakenly reveal your real identity somehow.
It might take a long time, but I think it's a good idea to treat one's stack as if it had 10x purchasing power. That way one is better prepared in case bitcoin continues to catch on.
deleted by author
I'm honestly not worried at all, there's about 8 billion people in this world, sure having some trail on these forums is something but I haven't used any personal information nor my usual 'username' or even the e-mail address, I don't see the point on making myself disappear just because some amount of bitcoin laying around. But I totally get what you mean.
deleted by author
The time to get guns and ammo is now. If bitcoin is at 1M it might be too late.
you're thinking right
Your gun propaganda is bu****it
you comment is bullshit
Rub my eyes and check every source imaginable to make sure I’m not dreaming
Check if $1M still buys a really nice house in the countryside. Or maybe $1M only buys a used car or a bag of bread.
$1M gets u tinder for the fire
Yes guns & ammo & 3d printers
What would you do with the 3d printers?
Probably regret talking so much about Bitcoin.
realise a loaf of bread costs $100k
Nothing stack more
I go to the University again to learn other things.
Paying off my student loan debt and HODL'ing the rest
A halk with my daughter...
Party!!!
continue to do the same, but probably would be more distant myself from the mad mass.
Check how much bread costs.
Getting a Siberia grade Lada Niva (has a crank to back up in case of -50'C temps), and an international drivers licence and go to Novosibirsk to search out a farm and a nice siberian lady to live on it with.
We are talking about a 33x at this point btw, many people will suddenly have a lot of surplus... Probably prices of bitcoiner items will skyrocket lol.
I go back to sleep, serene
btc truly is fuck u money
I'll make some coffee and order the first flight I can find to El Salvador or Costa Rica
Work on the Citadel. You're all invited.
cry
stay humble, stack sats learn the tools, use the tools, teach the tools review security model for the jump to $:sat parity
That would be a relatively modest change in price.
Bitcoin has increased way more in price over the last decade.
If you don't have guns/ammo before Bitcoin hits $1M, you won't be able to get any after, because the gun stores will already be empty. Americans have a habit of buying guns/ammo whenever anything happens: COVID, Christmas, Cyber Monday, 9/11, presidential elections, mass shootings, the president stuttered a little bit -- the list goes on.
$1M/BTC would imply that unemployment and inflation are significantly higher than now. In that scenario, I would probably have lost the job I have now, and I'd probably be looking for another job. If I couldn't find another job, then I'd have to start eating into my savings (in whatever form it is at that time). If I had 1 BTC (I don't), who knows how long $1M would last during hyperinflation.
I might buy a monocle and top hat and just keep on stacking sats. 🧐🎩
Go back to sleep, lol I will not be working today
I create an animal shelter
That will be a mind blowing
Move countries
I'd go back to sleep.
Buy more, the next halving is gunna make it even more scarce. BTC hits 2milly... Ah well, continue my DCA. 3milly? You gotta ask? Answers still DCA some more.
put my phone on do not disturb and call in a couple days
Nothing, keep stacking :-)
Convert enough to fiat to pay for my two children’s college funds. Save the rest to pass down as generational wealth
stay put until we hit 10m
How much does US$1M buy by then?
if BTC $1M today? Probably nothing
stay calm and stack on.
Would call mama that her investment finally is paying
The investment PAID. She survived the "suddenly" part
Sorry, I'm a ''bit'' drunk. Don't get the joke... would You mind giving me a hint please??
Rasta coffee time
im one of those people that avoids caffeine but loves the taste/smell of coffee lol.
Oh, what a delightful scenario to wake up to! If Bitcoin were suddenly worth $1 million, I would naturally scramble to organize a worldwide celebration in honor of this groundbreaking event. We'd have Bitcoin-themed parades, fireworks spelling out cryptocurrency acronyms in the sky, and of course, an extravagant feast where everyone dines on virtual coins. It would be the party of the century, all thanks to the miraculous rise of Bitcoin!
did chatgpt write this
Yes. SarcasmGPT. I created this chatbot on TG
This post was featured on This Day in Stacker News.
Hi,I've got some exciting news for you, I can teach you how to turn your $200 into a whopping $5,100 in 4 hours! investing on bitcoin without interrupting your daily schedules or sending money to anyone. TEXT ME IF YOU ARE INTERESTED FOR MORE INFORMATION:📞 WhatsApp: +1 (424) 844 7430 Google chat: christineduff300@gmail.com Telegram Username: duff212
deleted by author
So you're telling me that with about 50,000$ you'll be able to leave your country and start a live elsewhere? How are you going to pay expenses with only 50k$? Even in the most remote country with the cheapest living costs possible you'll need much more than that, even if you keep taking small amounts every now and then there's no guarantee (sadly) it won't collapse and converting might not even be an option after.
You'd be surprised at how much $50k gets you in developing countries.
Oh believe me, I know, but it won't get you far, specially if you want to stay connect with the rest of the world. I went to a country in Africa as a volunteer and even thought the people, food and view ws amazing, you couldn't stay in touch in a stable way. Maybe you are today, with easy access to Starlink, but not then. And even with 50k$ in a country like this, won't get you an eternity...
I doubt he needs an eternity, just a second chance in a place that respects property rights, civil liberties, etc (not sure which country he lives in or what makes it shitty but it's usually those things). My parents fled a shitty country for a much better country and all they had was two suitcases, two kids, and $500.
Agreed, although it does depend on the place and the person, hopefully he makes it, just not for the worse!
deleted by author
a good variety
deleted by author