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Author Topic: What would you do with 1,000,000 Bitcoin  (Read 2068 times)
Blue_Tiger73
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November 03, 2015, 07:26:24 AM
 #1

Just wondering what you guys would do if 1,000,000 randomly appeared in your Bitcoin wallet and you could spend it on what ever you wanted.
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November 03, 2015, 07:35:25 AM
 #2

I would move it to various wallet & address, so no one can hack my wallet & i can manage my bitcoin.
I would spend it for various things, and only sell my bitcoin when i need fiat.

Of course, i wouldn't let people know i have 1 million bitcoin, otherwise many people would try to sell steal my bitcoins.

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November 03, 2015, 07:41:06 AM
 #3

I would move it to various wallet & address, so no one can hack my wallet & manage my bitcoin.
I would spend it for various things, and only sell my bitcoin when i need fiat.

Of course, i wouldn't let people know i have 1 million bitcoin, otherwise many people would try to sell my bitcoins.

I think this is the most important thing you can do. Make sure it is secure first.

Next, buy whatever you want or think you need, make sure you don't have a mortgage anymore, make sure you are set for life, just in case bitcoin goes poof.
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November 03, 2015, 08:11:25 AM
 #4

Of course, i wouldn't let people know i have 1 million bitcoin, otherwise many people would try to sell my bitcoins.
Not just "sell" your Bitcoins, but come after you and try killing you. This is quite a huge sum at the moment and it is only going to be worth even more in the future. I guess that my plans wouldn't be much different than those with a equivalent amount of cash (aside from investing that cash in Bitcoin).

I would move it to various wallet & address, so no one can hack my wallet & manage my bitcoin.
However, you are right. The first step should be splitting it up as much as possible and securing as much as possible. Just imagine the horror of seeing a outgoing 1 million Bitcoin transaction?

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November 03, 2015, 08:31:26 AM
 #5

they are too much for me, i would organize the biggest raffle ever with 100k bitcoin total for a giveaway, 1 for every user, but to avoid abusing he should identify himself with a video and his username(he can cover his face for privacy)

i would simply keep the majority, and spend very little
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November 03, 2015, 08:32:26 AM
 #6

Keep them and spend some to make my parents happy lol Cheesy
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November 03, 2015, 08:47:21 AM
 #7

they are too much for me, i would organize the biggest raffle ever with 100k bitcoin total for a giveaway, 1 for every user, but to avoid abusing he should identify himself with a video and his username(he can cover his face for privacy)

i would simply keep the majority, and spend very little

I think a video with the face covered doesn't prove his identity Smiley  (videos can be easily manipulated) Wink

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November 03, 2015, 08:51:09 AM
 #8

Just wondering what you guys would do if 1,000,000 randomly appeared in your Bitcoin wallet and you could spend it on what ever you wanted.
send 999,000BTC to a cold wallet and use 1000BTC to slowly convert to fiat or spend raw and enjoy the luxuries
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November 03, 2015, 08:53:15 AM
 #9

Just wondering what you guys would do if 1,000,000 randomly appeared in your Bitcoin wallet and you could spend it on what ever you wanted.
send 999,000BTC to a cold wallet and use 1000BTC to slowly convert to fiat or spend raw and enjoy the luxuries

Something like that. Mining Bitcoin at home at this point would feel pointless. But i think i would still start a Data center and start up other ventures, probably start a ASIC business for small miners. Build animal shelters and buy tons of sushi. Smiley

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November 03, 2015, 08:58:05 AM
 #10

they are too much for me, i would organize the biggest raffle ever with 100k bitcoin total for a giveaway, 1 for every user, but to avoid abusing he should identify himself with a video and his username(he can cover his face for privacy)

i would simply keep the majority, and spend very little

I think a video with the face covered doesn't prove his identity Smiley  (videos can be easily manipulated) Wink

it's very hard to manipulate a video without no one disovering it, and i have no other idea in mind, to avoid abusing, it seems impossible
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November 03, 2015, 09:01:57 AM
 #11

they are too much for me, i would organize the biggest raffle ever with 100k bitcoin total for a giveaway, 1 for every user, but to avoid abusing he should identify himself with a video and his username(he can cover his face for privacy)

i would simply keep the majority, and spend very little

I think a video with the face covered doesn't prove his identity Smiley  (videos can be easily manipulated) Wink

it's very hard to manipulate a video without no one disovering it, and i have no other idea in mind, to avoid abusing, it seems impossible

You want to limit to one person per entry by limiting to one identity per.

One way or another they need to use something related to their identity which is private information. The only way to go about this is use a mediator, a 3rd party that will verify the unique identity using something like a driving card license and only tell you who has a valid entry.

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November 03, 2015, 10:52:11 AM
 #12

I just go back to my homeland and just be a Hotel owner and buy some houses and rent it.
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November 03, 2015, 11:14:43 AM
 #13

Too much money, I would be perfectly content with 1% of that Wink

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November 03, 2015, 11:29:28 AM
 #14

First at all i will check x2 if im not dreaming Smiley

After it, i will split them, spend some of the bitcoins because in real life i really need it, but only few of them, after it, i will giving away some of them to my friends and people who really need it, and hold the rest.

I dont need lot of money to live in peace, but need a little bit of money to made it real Wink
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November 03, 2015, 11:32:24 AM
 #15

Well to be honest, the first thing come into my mind is to transfer it to my bank and use it to earn long term interest from it which if the money stays for 5 to 10 years, due to my country's high bank interest, I could earn 23 to 25% interest rate monthly which is going to be great  Wink

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November 03, 2015, 11:38:46 AM
 #16

i would convert it to gold and then quit my job because i can live without working with this lots of money

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November 03, 2015, 11:53:55 AM
 #17

If this happens to me I'm sure that for the next 24 hours I will just be staying and looking at my wallet not believing it and I probably will smoke so much cigarettes while watching it, that my lungs will collapse and I will die quickly after that Cheesy Well if I don't DIE that day I will probably sell a third of the coins / convert them to fiat and then put the money on different bank accounts just to stay there and I will profit from the interest. The other third I will use to spend on my daily activities maybe - buying some nice stuff that I wanted, going to vacations around the globe etc. and the rest third of the coins will be on a cold storage for bad times Smiley

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November 03, 2015, 12:11:11 PM
 #18

Well to be honest, the first thing come into my mind is to transfer it to my bank and use it to earn long term interest from it which if the money stays for 5 to 10 years, due to my country's high bank interest, I could earn 23 to 25% interest rate monthly which is going to be great  Wink

Your country's high bank interest is due to the high inflation. So the fiat will devalue very fast.

It is better to hold on to the bitcoin. When you need to purchase something, use the bitcoin directly if possible or change the bitcoin into your local currency.
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November 03, 2015, 12:29:53 PM
 #19

I would slowly sell it off and eventually buy my own private island.
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November 03, 2015, 12:36:22 PM
 #20

1M BTC... That's the estimated number of bitcoins that satoshi have, and he is keeping the bitcoins, neither selling it nor spending it. I would do the same as what satoshi does: that's keeping it and do nothing.


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