$700 million lottery jackpot straight to BTC

[thejaytiesto]

It wouldn't collapse, it would just mean that whoever won the jackpot and spent that much on Bitcoin, would become a big investor/holder of the currency, that's all, there's no doom scenario, it's actually good for us. It's not like we would be running out of Bitcoins or something, that's never a problem thanks to how divisible it is.

So if any big whale is reading this, by all means go and buy 700 mm dollars out of BTC right now.

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[gkv9]

If such person ever decides to invest in BTC and go all in, I guess $5k won't be a big deal per BTC as we will see a really big pump from their side, because so many coins will be bought as the amount is so big...

And if he ever decides to dump, we will still be above the current levels at where we are presently...

[jjacob]

With the US Powerball jackpot now at $700 million, I'm curious about a scenario where a single winner dumps the entire lump sum into the BTC exchange and locks it up for years.
What would the effect on the market be immediately after and for the next few years? What would happen to the market in the future if they decide to cash out as the richest person who ever lived?

Even if you want to convert your dollars into bitcoins, there are various buying strategies. Overwhelming exchanges is not going to help.
The US government auctions large amounts once in a while, you can bid on that. 

[Searing]

True...with 900 million I guess it will be the next go around....according to the below lottery calculator
(this includes my states cut on this as well)

http://www.afterlotto.com/lottery_calculator.html

Ta da! $609,750,000.00 million dollars! (frack you'd have to have a full time security team just from the kidnap and ransom demands from the folk here on bitcointalk!) (no really!)

So just for the heck of it ...say you tossed the $9,750,000.00 dollars into BTC just so you could get to a 'nice' round $600 million dollar trust fund amount

Damn....that sure would shake things up ..that is for sure


Heh. Lottery Ticket Purchases at these payouts just prove the theory of FOMO (Fear Of Missing Out) as a 'true' concept.

They say if 'someone' wins such massive wealth it changes them (you think?) they are either

1) a philanthropist like Andrew Carnegie or Bill Gates Foundation ...(.helping Mankind...building orphanages etc)

or

2) a complete an utter asshole (razing orphanages for apt development....being Charlie Sheen's Wingman on rout thru Asia etc)


They say it is one camp or the other ...no in between...would be nice to have such a 'character test' imho

 

[lottery248]

1,3 billion!
the powerball jackpot next wednesday is $1.300.000.000
let's continue the discussion with this jackpot size.

[Searing]

1,3 billion!
the powerball jackpot next wednesday is $1.300.000.000
let's continue the discussion with this jackpot size.

yep you are correct link below stating such (and others)

http://fox8.com/2016/01/09/ticket-sales-soar-ahead-of-powerball-drawing/


using the lottery calculator below for this amount (again using state option of your choice) my state option included...

http://www.afterlotto.com/lottery_calculator.html


After taxes that is for me $539,019,000.00 (again with my state taxes included in above)

Damn that means $39,019,000.00 dollars to BTC if I win the power ball as my 'bet' to the ASIC gods to let it be so

Also note you also LOSE money .....because of the 'stratospheric' taxes paid I guess on such ..from its blast past this last no win on the lottery amount

your actual take home 'drops' from $ $609,750,000.00 to 539,019,000

or a LOSS of

$70,731,000 dollars!

Damn ....wonder what it would be with 1.5 billion...would you still lose money in taxes then?

Just think if any of the following people won the lottery how 'batsh*t crazy' the world would go

1) Bill Cosby

2) Donald Trump

3) Paris Hilton

4) Sara Palin

5) Jimmy Kimmel (not sure why...just think watching him self-destruct with that kinda $$$ on TV would be cool)

6) Bill Clinton

7) Al Gore

8 ) Josh Wheton *hey I want FIREFLY to come back*

9) Summer Gau *hey I want to watch her FIREFLY or not*

10) er me ie Searing

frigging 'alien abduction odds' have to be better then winning the power-ball imho

[gkv9]

1,3 billion!
the powerball jackpot next wednesday is $1.300.000.000
let's continue the discussion with this jackpot size.

yep you are correct link below stating such (and others)

-- snip --

frigging 'alien abduction odds' have to be better then winning the power-ball imho

Ain't it possible for someone to send their winnings to a different country through Bank O/D where there are least taxes???
Is tax paying mandatory before winner receive any winnings???

[Betwrong]

1,3 billion!
the powerball jackpot next wednesday is $1.300.000.000
let's continue the discussion with this jackpot size.

Looks like this is like  true, but nevertheless it's hard to believe. I mean, seriously, 1.3 billion dollars??? Did anyone has ever won hundreds of millions yet? And if yes, how much they really receive? What about taxes? Idk the whole thing looks crazy to me.

And, YES, if the winner decides to buy BTC with that amount of dollars the price might go up 60-80% or even more for some time for sure.

[Searing]

1,3 billion!
the powerball jackpot next wednesday is $1.300.000.000
let's continue the discussion with this jackpot size.

Looks like this is like  true, but nevertheless it's hard to believe. I mean, seriously, 1.3 billion dollars??? Did anyone has ever won hundreds of millions yet? And if yes, how much they really receive? What about taxes? Idk the whole thing looks crazy to me.

And, YES, if the winner decides to buy BTC with that amount of dollars the price might go up 60-80% or even more for some time for sure.

so I could give what make 1,300 folk Millionaires.....(or the entire group of co-eds in my local universities freshman dorms....heh ...now there is a thought )

you'd almost have to give your self an allowance


say take 1/2 and put it away in trust even you can get into ....let it grow money at 7% growth you'd get what you started with in 14 years

take the other 1/2 and take 7% a year on whatever the investments brought into the kitty not gonna dig out the calculator but say after taxes you got

even 600 million

1/2 of that is 300 million at 7% that is $21,000,000 dollars...taxes etc get taken out say you get 12 million dollars a year off that plan of income

hell 1 million dollars a month you could spend ...and if all you did was that......lived on it say...you'd prob double your money in 8 years back to what you started with

sticking to your 'budget' of a 'measly' 1 million dollars a month

damn that is a lot of orphanages       I could make a LOT of charities very very happy

anyway something like that or the money would drive  you mad...next thing I'd be helping elon musk build a space ship to mars or something silly

best to have limits

[vasrasus]

1,3 billion!
the powerball jackpot next wednesday is $1.300.000.000
let's continue the discussion with this jackpot size.

Looks like this is like  true, but nevertheless it's hard to believe. I mean, seriously, 1.3 billion dollars??? Did anyone has ever won hundreds of millions yet? And if yes, how much they really receive? What about taxes? Idk the whole thing looks crazy to me.

And, YES, if the winner decides to buy BTC with that amount of dollars the price might go up 60-80% or even more for some time for sure.

so I could give what make 1,300 folk Millionaires.....(or the entire group of co-eds in my local universities freshman dorms....heh ...now there is a thought )

you'd almost have to give your self an allowance


say take 1/2 and put it away in trust even you can get into ....let it grow money at 7% growth you'd get what you started with in 14 years

take the other 1/2 and take 7% a year on whatever the investments brought into the kitty not gonna dig out the calculator but say after taxes you got

even 600 million

1/2 of that is 300 million at 7% that is $21,000,000 dollars...taxes etc get taken out say you get 12 million dollars a year off that plan of income

hell 1 million dollars a month you could spend ...and if all you did was that......lived on it say...you'd prob double your money in 8 years back to what you started with

sticking to your 'budget' of a 'measly' 1 million dollars a month

damn that is a lot of orphanages       I could make a LOT of charities very very happy

anyway something like that or the money would drive  you mad...next thing I'd be helping elon musk build a space ship to mars or something silly

best to have limits

If he can spend $0.5 million a month to buy the bitcoin, it will support the bitcoin price easily. The price will g up very  high.