I predict the price will be around 670-680 in about 12 months. Thats the numbers I use for planning my investments at least.

It is indeed very high risk, as with all startup investments. There is a lot that can happen to screw this up, as mentioned by you guys!

Personally I'm considering backing the project, mostly because I want to support growth in the btc world, and also to support Kim, because IMO the US pulled some shady strings to raid and shutdown this guy in the first place. They haven't touched any of the other filesharing sites..

Regarding Kim going to jail, that would be bad, but again, he's basically the evangelist, so the project would most likely go on without him.

Bitstamp actually offers gold as an withdrawal option to EU members, kinda neat if you're into that kind of thing!
Personally I'm not tho!

So, anyone investing in Kim Dotcom's Megaupload 2.0 venture?

Any thoughts?

Hi everyone and welcome to "my topic"!

I'm starting this thread to give the ones interested, insight into my quest to aquire FUM, aka, FUCK YOU MONEY.
There are many definitions of what FUM is, but for me its basically financial freedom.

• Freedom to do what I want in life
• Freedom to work because I want to and not because I have to
• Freedom to say "FUCK YOU" and leave, to any employer, if they are treating me badly or I don't agree with their way of doing business.

My strategy for doing this is rather simple, I'm going to:

• Increase income
• Decrease expenses
• Save/invest as much money as possible, about 65% of my income

Now that you know my goal and strategy, I'm going to show you how I invest my money.
As you might have guessed already, I'm going to invest in Bitcoin. But I'm not  going to put all my eggs in the same basket..

I'm diversifying my investments into 3 categories:

• Bitcoins
• Stock/Index funds
• Savings account

Bitcoins:
Because crypto is awesome, and I do believe the value of bitcoin will increase over time. (This is a 7-10 year plan)
I will not be trading, but holding.

Stock market:
I also believe the world will go forward in the long run, and thats why I'm investing in the stock market as well.
Because I'm unskilled/new to the stock game, I'm going with global and western index funds to start with. I'll probably invest like 80% into passive index funds, 10% into active index funds and 10% in single stocks.

Savings account:
I'm also putting 1/3 of the money into a "high" rent savings account (1,8%). I'm doing this so that if the mortage rent suddenly should increase like hell (I got it locked at 1,7% for the next 5 years), I got some money "on hand"  to be able to resolve the situation, instead of sellings btc/stocks.

I'm investing in btc and stocks on my payday, regardless of price. And I'm putting 1/3 of the total savings each month, into the different categories. The reason why the graph underneath show more value in bitcoin is because I've put the btc I already have as a deposit during this first month. And I'm not able to save as much as I want this month, because I'm in the process of moving (over 1000 miles..) and changing job. I will make up for it in november tho!


My FUM portfolio, in USD:


I will be posting a graph like this once every month, to show my progress. I'll also include some other stats like monthly change in %, excluding the current months deposits etc.

Wish me luck!  

Food for thought for anyone saying the bitcoin price is too high at the moment for buying in:

Just because the value of bitcoin has grown a lot since it was released, it doesn't mean it won't grow further.

Take a look at this chart of Warren Buffett's Berkshire Hathaway company:
http://static2.businessinsider.com/image/54f4ada4ecad04a2477c881b-1200-924/value-bar-log-final.png
This chart shows the current value if you invested 1000$ in Berkshire Hathaway stock, sorted by which year you bought it.

The people who are now saying bitcoin is too expensive, and don't believe in further growth, are the same type of people who didn't invest in the Berkshire stock in the 70's, 80's and 90's.
Because they believed it couldn't grow any further because of the already insane growth. Do you think they regret that decision today? You bet.

In my opinion, you need to look at bitcoin as a long-term investment. You also need to be willing to take a risk.
That being said, you should obviously never invest money you can't lose, as there are no guarantees in this game.

Personally I rather buy bitcoins, instead of buying that takeaway pizza, or waste money on other similar things.
I'll rather be that guy who invested in something I believe in and lost, instead of that guy who regrets that they didn't invest in something they believed in, because they were too greedy/rather wanted that pizza instead.

Also, never put all your eggs in one basket. Diversify.

This! We saw a 66% increase in bitcoin price so far in 2016, its fucking insane IMO..

If bitcoin rises to 1000$, its a 60% increase. This is what you will earn in ~3 years with very good luck on the stock market, 7-8 years is more realistic, minus taxes and fees.

I believe it will hit at least 2000$, its all about when this will happen, it will not happen over night. I do however believe Megaupload 2.0, BitCache and eventually MegaNet will contribute to this increase.
This is obviously high risk, thats why I diversify my investments in different markets.

Thanks for the tip, I'll consider it. How would I do this? Do I physically buy it? Or is it some kind of stock?
Growing veggies would mainly be a hobby, that would save money as well. I already have all the gear for growing stuff hydroponically. Homegrown is also healthier and tastes better! 

Thanks, hopefully it will work out! I started with this last month!
You can still make it happen. The reason I was able to buy the apartment in the first place, was because I was holding litecoin, until it spiked from 2-3$ to 35-40$

I'm not aiming for rich, but I'm trying to grow my wealth.

Anyhow, this is my plan:

• Invest 70% of my salary, diversified between index funds (stock market), bank savings/mortgage payments and bitcoin
• Cut living costs
• Increase income

As stated, to be able to invest 70% of my income, I obviously need to cut livings costs down to a minimum.

This includes:
Stop using my car, and rather use my bicycle to get around.
Move back to my moms..
Stop wasting money on bullshit/stuff I don't need/tech.
Buy cheaper food/grow my own veggies.

I'm also increasing my income by:
Renting out the car that I no longer use.
Renting out my apartment where I don't live anymore.
Getting a second job/selling stuff I buy for cheap, at a higher price.

I'm investing as much as possible, and I try to diversify my investments so I don't get screwed if some markets crash.

I'm using global index funds, to get a "stable" % of the global stock market increase. I'm saving up cash instead of paying off my mortgage. I'm able to do this because the rent on my loan is super low, and it pays off to invest it instead/save up cash so I can buy in when the next financial crisis comes. As long as I'm not forced to sell my appartment if/when the housing bubble bursts. Which I won't be, because I have fixed rent % on my mortgage, and I'm renting out the apartment + saved up funds, so I can take a hit, if it comes to that.

I'm also buying bitcoin, because I believe it will increase more in value over time than any stock market/housing market/savings account.

This is a long-term plan, around 10 years.

My goal is not to become "rich", but financially independent. Which means I do not want to be dependent of my employer.

I basically want FUCK YOU MONEY! ^^

0.19$/kWh can't be right. It's normal with prices around 0.07 for home residents in Norway/Sweden. Surely a huge operation like KNC had bulk prices..

Edit:
Actually the electricity price is around 0.02$/kWh when not paying for the transport of power. aka buying directly from a hydroplant like KNC did.

If it's not risky, why haven't you taken up a huge loan and bought bitcoins with it?
I guess you haven't, because it's risky..

Thanks, I'll probably do that. I've actually been running it at 593 since I got it, because of high summer temps, just recently put it back at 600 because the ambient temps dropped a little. Looking forward for winter time! ^^

The fan is set at auto!

I'd say its normal.

Here's a screen from my S9:


During day time it pushes 107C.

PS: I do have a dust-filter in the front, that restricts the airflow some.

Edit:
You can see that the hottest board is the one producing the most HW errors..

Not really helpful, but:
I'd love to have a miner that would make it easy for someone to create a watercooling heatsink/block for it.
I have a wet dream of owning a house with a quiet, waterborne?, central heating system, powered by ASIC's! ^^

Also, would it be possible to make a 1000W miner "silent" by using a bigger enclosure? Instead of 2-3 boards packed in an S7 formfactor, that requires fans with high RPM and a high static pressure, could you spread it in a bigger formfactor so that you don't need high RPM fans? An enclosure like this would obv. be optional.
Would this work for an S7?

Can't wait to see the results from this project!  

/Sorry for my broken english..

This is how:

What are you talking about?

I get that you are into dezentralizing the network.. it seems like you're trying to create a board of people from the btc community to control the creation of a new ASIC? Why?

The community will back a guy with the proven know-how, and ability to create a new ASIC.
The community will not back a group of self-entitled douchebags who has paid for their voices to be heard.

Have I interpreted you correctly?

This might be covered already, but.. whats the noise levels at?

Cheers

You guys should be happy the tax rates are so low! I'm paying a default 25% import tax on my miners aka 520$, on top of the 2085$ miner price (Norway).

No they don't! Wonder why they are so much in debt.. http://www.usdebtclock.org/ xD