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Author Topic: If you had 1,000,000 bitcoins, what would you do with them?  (Read 3022 times)
imperi
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June 12, 2011, 04:41:52 AM
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I think that I would sell 200 every day and live off of them, and hoard the rest. And I'd definitely quit my job, working sucks (even tho my software engineering job is fine, I just don't like working).

edit:

I changed my mind. I would convert 2000 bitcoins a day to dollars, until I have 500,000 left. And then have half bitcoins and the rest dollars.
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June 12, 2011, 04:56:15 AM
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I'd spend some portion of it to hire programmers and designers to help me build a bad-ass bitcoin related business. Would also spend some to hire professional GUI designers to make the client much better. I'd produce a motion-graphics video explaining true monetary economics to laymen so that they would understand why Bitcoin is revolutionary. I'd try to find other entrepreneurs and seed-fund their ventures if they seemed profitable.

Basically, I'd be a capitalist, because I'd have real capital instead of this ridiculous toilet paper we call Federal Reserve Notes.
Anonymous
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June 12, 2011, 05:03:19 AM
 #3

Use it as capital towards my private military. Use the force according to the desires of the highest moral bidder. Level the playing field, if you will.
imperi
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June 12, 2011, 05:08:37 AM
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Why would you want a private military? The only place you could use it is somewhere with shitty living conditions, without modern conveniences such as 3G wireless.
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I have always been afraid of banks.


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June 12, 2011, 05:11:33 AM
 #5

I'd buy you a fur coat (but not a real fur coat, that's cruel.)

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June 12, 2011, 05:16:43 AM
 #6

Nobody will be allowed to own 5% of the world's wealth.

You'll die of mysterious diseases, your hoarding will disappear. So the value of these coins gets evenly distributed to the rest of btc world.

Sounds scary? Bitcoin Communist Party will make it happen  Wink
imperi
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June 12, 2011, 05:19:37 AM
 #7

Nobody will be allowed to own 5% of the world's wealth.

You'll die of mysterious diseases, your hoarding will disappear. So the value of these coins gets evenly distributed to the rest of btc world.

Sounds scary? Bitcoin Communist Party will make it happen  Wink

Since when is Bitcoin all the world's wealth? Last I checked, it was just a high school student's computer lab project.
Anonymous
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June 12, 2011, 05:19:41 AM
 #8

Why would you want a private military? The only place you could use it is somewhere with shitty living conditions, without modern conveniences such as 3G wireless.
There is a lot of liberty lacking in this world.
imperi
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June 12, 2011, 05:22:02 AM
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Why would you want a private military? The only place you could use it is somewhere with shitty living conditions, without modern conveniences such as 3G wireless.
There is a lot of liberty lacking in this world.

Empirically speaking, in this world you can't have liberty and modern conveniences side by side (I mean modern, not 2005-era). So you'd have to give that up. Healthcare and stuff too.
Anonymous
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June 12, 2011, 05:27:29 AM
 #10

Why would you want a private military? The only place you could use it is somewhere with shitty living conditions, without modern conveniences such as 3G wireless.
There is a lot of liberty lacking in this world.

Empirically speaking, in this world you can't have liberty and modern conveniences side by side (I mean modern, not 2005-era). So you'd have to give that up. Healthcare and stuff too.
Heh, we'll see. If people want things, there will be people who will serve them as efficiently as possible. My private military company will attempt to protect this environment until other forces can rise up and sustain it.
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June 12, 2011, 05:32:57 AM
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I'd buy you a fur coat (but not a real fur coat, that's cruel.)

Lol. Haven't you always wanted a monkey though?

But seriously. I'd use my BTC to purchase whatever I needed (and was available) for day to day stuff and I'd also sell some for spending money. Probably buy a boat and go cruising.

Ah, dreams...  Cool

11 Cheers for binary currency!
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June 12, 2011, 06:13:47 AM
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Since when is Bitcoin all the world's wealth? Last I checked, it was just a high school student's computer lab project.
Since January 3, 2009
westkybitcoins
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Firstbits: Compromised. Thanks, Android!


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June 12, 2011, 11:05:10 AM
 #13

I would distribute them to a network of hundreds of cash/bitcoin exchangers scattered across the U.S. and Canada, and advertise their existence.

Mexico and other continents... you'd be on your own (at least at first.)

Bitcoin is the ultimate freedom test. It tells you who is giving lip service and who genuinely believes in it.
...
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In the future, books that summarize the history of money will have a line that says, “and then came bitcoin.” It is the economic singularity. And we are living in it now. - Ryan Dickherber
...
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ATTENTION BFL MINING NEWBS: Just got your Jalapenos in? Wondering how to get the most value for the least hassle? Give BitMinter a try! It's a smaller pool with a fair & low-fee payment method, lots of statistical feedback, and it's easier than EasyMiner! (Yes, we want your hashing power, but seriously, it IS the easiest pool to use! Sign up in seconds to try it!)
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The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
AntiVigilante
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June 12, 2011, 11:27:24 AM
 #14

I think that I would sell 200 every day and live off of them, and hoard the rest. And I'd definitely quit my job, working sucks (even tho my software engineering job is fine, I just don't like working).

edit:

I changed my mind. I would convert 2000 bitcoins a day to dollars, until I have 500,000 left. And then have half bitcoins and the rest dollars.

I would loan them. I already loan a few.

Proposal: http://forum.bitcoin.org/index.php?topic=11541.msg162881#msg162881
Inception: https://github.com/bitcoin/bitcoin/issues/296
Goal: http://forum.bitcoin.org/index.php?topic=12536.0
Means: Code, donations, and brutal criticism. I've got a thick skin. 1Gc3xCHAzwvTDnyMW3evBBr5qNRDN3DRpq
Findeton
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June 12, 2011, 11:29:37 AM
 #15

I would invest them in more mining. I would create new businesses around bitcoin. I would hire some programmers to take care of the software development to make it easier to use and more secure.

The objective is to add value to those bitcoins, giving credibility to it's economy. And at the same time, mining would provide myself more bitcoins.

Also, if I saw bitcoin's price rises too quickly I would short some of it, in order make possible a steady growth (and at the same time earn some more bitcoins).

Also, I would cash out 10% of it to give me some security in case bitcoin goes down. That money would go to gold, petrol, silver... not dollars.

Bitcoin Weekly, bitcoin analysis and commentary

14DD7MhRXuw3KDuyUuXvAsRcK4KXTT36XA
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June 12, 2011, 11:35:03 AM
 #16

I would invest them in more mining. I would create new businesses around bitcoin. I would hire some programmers to take care of the software development to make it easier to use and more secure.

The objective is to add value to those bitcoins, giving credibility to it's economy. And at the same time, mining would provide myself more bitcoins.

Also, if I saw bitcoin's price rises too quickly I would short some of it, in order make possible a steady growth (and at the same time earn some more bitcoins).

Also, I would cash out 10% of it to give me some security in case bitcoin goes down. That money would go to gold, petrol, silver... not dollars.

This is why prices continue to rise.

Proposal: http://forum.bitcoin.org/index.php?topic=11541.msg162881#msg162881
Inception: https://github.com/bitcoin/bitcoin/issues/296
Goal: http://forum.bitcoin.org/index.php?topic=12536.0
Means: Code, donations, and brutal criticism. I've got a thick skin. 1Gc3xCHAzwvTDnyMW3evBBr5qNRDN3DRpq
Findeton
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June 12, 2011, 11:42:49 AM
 #17

I would invest them in more mining. I would create new businesses around bitcoin. I would hire some programmers to take care of the software development to make it easier to use and more secure.

The objective is to add value to those bitcoins, giving credibility to it's economy. And at the same time, mining would provide myself more bitcoins.

Also, if I saw bitcoin's price rises too quickly I would short some of it, in order make possible a steady growth (and at the same time earn some more bitcoins).

Also, I would cash out 10% of it to give me some security in case bitcoin goes down. That money would go to gold, petrol, silver... not dollars.

This is why prices continue to rise.

Bitcoin is a great idea. My only concern is for SHA2 (how much will it last). But long before SHA2 gets into real trouble we can switch to another algorithm, maybe SHA3. So no real problem.

Bitcoin Weekly, bitcoin analysis and commentary

14DD7MhRXuw3KDuyUuXvAsRcK4KXTT36XA
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