Bitcoin Forum

OK so a while back, when the bit-coin was worth about $6.25 a piece, I convinced a friend of mine to purchase  $100 dollars worth of bit-coin, which got you a whopping 16 bit-coins at the time. My friend was un able to get into his wallet until about a week ago, so it was quite a surprise. He is keeping them in an offline bitchain wallet. What is the best site to sell bit-coins and what is the best place to store them? ???

Store offline, or send them to me. Yay!

You could invest it in something or you could just sell them at the exchanges but no one can tell you the best ones just search up bitcoin exchanges.

dont do nothing and wait for 5y is your best option

This and then...only spend out 2 coins...keep the bulk of them as long as you can. 

5 years? Really that long that's pretty percise for you to guess that is the best time to sell I say sell when you are happy.

Maybe buy yourself a few things you want and set aside 6 to 12 of them as the price increases.
I always accept donations though if you want to give one to me.  ;D

Seriously though do something with a little bit of them that you really want saving the rest.  That way you can enjoy the benefits of having something worth a good amount and also having purchased something you wanted.

The sky's the limit with Bitcoin.
Enjoy!

I say keep them if you don't need the money now. In 5 yrs from now you will wish you didn't sell.

Tell him to forget about them for a few more years unless there's an absolutely desperate need. Forgetting about it seems to have served him pretty well so far.

keep 15 and use 1 as a way to tip/donate to useful people/organisations ...and also to send to people you introduce to BTC 1 or 2 cents at a time...

Good idea that would be great incentive to new people that the op has introduced to Bitcoin the remaining coins hold onto until the right price comes.

Newbie status, with the post starting with "OK so", ergo (that means 'therefore') this has to be an excellent OP to read.

theymos, what are the chances of you creating a Trollbie section on this forum?

I highly recommend armory bitcoin wallet. Make sure to follow their procedures (view only wallet, full one on usb drive on an offline computer ) so you're basically theft proof. If you're into day trading, keep half or so in a reputable exchange like btce.

Consider just spending them rather than "cashing" out. Go shopping at Overstock or TigerDirect.

Store them as they are, in an offline wallet. Sell them? Bitstamp ..... certainly don't be attracted to Gox by the high prices or you will be goxxed

Hold it

Hold on to 13 of them and use 3 or so to invest in smaller currencies or donate a small bit of on. (or give some to me) :)

+ 1

Nice idea.

Sell them on mt.gox. Jk. I'd keep them, but maybe you need some money. If you do, sell a handful and keep the rest where they are.

Sense, this makes none.

*baffled*

+1

Bitcoin Armory is probably the gold standard for secure wallets, but you have to download the entire blockchain. An easy-to-use wallet is Electrum and works well also. If you don't have any immediate need for cash, then you can get the highest price for selling bitcoins on Mt.Gox as they tend to be $100+ higher than the other exchanges. The downside is that you will probably have to wait 5-6 weeks in order to get USD/money wired to you.

Perhaps sell 2-3 bitcoins and invest in alternate cryptocurrencies which have more appreciation potential (litecoin, etc.) and convert them back to bitcoins after a good gain. And keep the rest of your bitcoins as a long-term rainy day (or retirement) fund... :)

Trade the other half on Mtgox and keep the other half for another 5 years, just keep the half and familiarize your self in trading to earn even more. 
Here is my axe you can always trow a little bit of that coin on my way.

1GVnPQZShy3UWwawyhwec6gcyPx1D6rZ8s

I'd get used to this feeling with Phinnaeus posts lol.

Coinbase, if you are in US.
Bitstamp, if you are not.

The best way to store them is to keep that offline wallet lol.
If your coin can survive from mid-2012 (judging from the price) till now, I am sure it works pretty good for you. :)

the best place to store them should be into a cold wallet :)