I'm planning on hodling for the long term. Selling my Bitcoin for fiat would technically realize a capital gain, so I'm just going to keep it and use it to spend on things directly as its value rises. More and more things will become available to buy over time, its inevitable. 
I am likewise holding my bitcoin for a long term. As I believe that its price would goes up. And if I am patient enough, its price could go really high and will give me a real fortune. If the price I am thinking will be reached, I will convert my bitcoins into cash anf buy things for my family.