What Bitcoin related business would you start with $1M USD or ~ 1640 BTC?

[bitcapitalist]

How much profit per month or year can a good casino bring in your opinion? With the current gambling community?

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[Senor.Bla]

i have an idea, but i am not sure about the legal issues this could cause, so please educate me if you know more.
so here it is:
many people would like to stay anonymous but still like to order online. so i would open up an store in let us say New York (or another big city that can provide many customers) where you can go and tell us what you want.
then you pay in bitcoin and we order the item. once it is shipped to us you can come and collect it. we would basically buy it for you, so you could stay anonymous. and as you get a receipt you could come to us if something would be not in order.
i think this could work fine, but would take a while to run sufficient, so $1M USD would be a good amount to start with.     

[Patatas]

Hello,

If you had $1M in US Currency what business where you can get paid in Bitcoin would you start?

The 1 million dollars in bitcoins or fiat ? If I had that much money,I won't get paid ,I will be paying people to do shit for me.

How would you invest the money in that new business you want to start?

Would you be able to make a living and draw a salary from this business?

Makes sense now.Wait,you are really confusing again.Do I get paid as a business or salary as a employee ? I'd start my company,maybe a completely anonymous exchange.

It can be anything that doesn't break the law, including casinos or bitcoin gambling games.

What would you do?

Looking forward to some great ideas

Law depends on your nation's jurisdictions...Gambling world is saturated but if you are willing to invest $1m in the project,definitely you will blow it up!

P.S: Business should be able to operate from anywhere in the world with a small team. Also it's important that you are able to get some money out of this business each year to pay you good salary of around 150k - 200k per year before taxes.

That is quite tough if you're project is a huge software.The most difficult part of managing any project is the people...

[dc1a0]

I wouldn't create one big business, but rather create a few small businesses that would have the potential to grow into bigger things.

The first idea that popped into my head would to be to acquire a small solar setup and as many miners as the setup would support. Which then I would sell mining contracts for percentages of 90%-95% of the income of the miners against the cost of the setup. Which could then be expanded upon from the income from the contracts.

Another idea would be to acquire one or more 3d printers and sell trinkets for bitcoin, and either no credit card option, or more expensive with credit card by adding twice the fee of using the credit card on to the consumer. in an attempt to further proliferate bitcoin.

An option I need to get back to working on a product for is to test an ultra flat business model for a digital product or service, (without giving full details,) that allows the customers to make the decisions and even work on all but a small black box of the software, using bitcoins as escrow to pay those who work on those parts. Income will be generated by providing the community and working on the components in the black box.

Those are just a few ideas. But there are many small businesses like this that can be grown into large endeavors by being scalable and/or copyable.

[bestluck]

With that amount I will start my own wallet with debit card system and will also start a supermarket in my city and will use only bitcoin currency for that and so people will start to buy things from there with bitcoin and it also will have a card payment system so those people who will not have bitcoin then they will use their card (to attract visitors) but I will give a very good discount to bitcoin users.

[yayayo]

Well, owning 1.6K BTC could mean that you already had a successful business idea in the first place. So I would continue that way...

Seriously, I don't think you need to own that much to operate a nice business. There are lots of business ideas that do not require a huge amount of money, provided that you have some skills and are willing to work hard. On the other hand starting a business can become easier if you have some funds at hand. You could buy raw materials or hire a few programmers easily.

So maybe this is the last thing you are expecting, but here comes my business idea: Farming. Founding the first serious farming operation that sell its products (fruits and vegetables) for Bitcoin. Prices would be a bit higher than in the ordinary supermarket, but the whole operation would be transparent, ecological and deliver superior quality. Products could be shipped nationwide via postal service or distributed locally.

The reason for this idea: The Bitcoin economy mainly rests on the secondary and tertiary sector. To become a closed-loop economy where fiat conversion is obsolete we need more primary products offered for Bitcoin.

ya.ya.yo!

[bitcapitalist]

Any other ideas?

[hasiramasenju]

$1M is a lot of money and i wasn't have those amount in all entire of my life but if i have $1M The first thing that comes to my mind is build new exchange even though some exchanges has been closed because lack of traders but i'm pretty sure build an exchange is still profitable and the second is i would like build new casinos who have plenty casino games available at there such as sport betting and poker game

[bitcapitalist]

Looking for more ideas

[MingLee]

Hello,

If you had $1M in US Currency what business where you can get paid in Bitcoin would you start?

How would you invest the money in that new business you want to start?

Would you be able to make a living and draw a salary from this business?

It can be anything that doesn't break the law, including casinos or bitcoin gambling games.

What would you do?

Looking forward to some great ideas

P.S: Business should be able to operate from anywhere in the world with a small team. Also it's important that you are able to get some money out of this business each year to pay you good salary of around 150k - 200k per year before taxes.

If I had $1m that I had to put into some sort of Bitcoin related business, chances are I would make a network of a faucet, exchange, online casino and likely some sort of merchandise store, and have them work together by getting people started through the faucet (giving out tokens for the casino as opposed to Bitcoin directly), get them hooked to the casino through some method, and then set up the exchange for them for ease-of-use.

Best idea I have off of the top of my head.

[shinratensei_]

Hello,

If you had $1M in US Currency what business where you can get paid in Bitcoin would you start?

How would you invest the money in that new business you want to start?

Would you be able to make a living and draw a salary from this business?

It can be anything that doesn't break the law, including casinos or bitcoin gambling games.

What would you do?

Looking forward to some great ideas

P.S: Business should be able to operate from anywhere in the world with a small team. Also it's important that you are able to get some money out of this business each year to pay you good salary of around 150k - 200k per year before taxes.

But where the $1M dollar is coming from?

But with $1M dollar I can make a company is running in the tech development and the new ideas in the development of vehicles will make my money is will be make doubled or more for my amount.

[OgNasty]

I would build a self sustaining mining farm with solar/wind/geothermal/hydroelectric power on property that I owned and invest enough into fixed income investments to sustain any taxes.  Then I would allow anyone to purchase small ownership stakes and use the proceeds to expand and financially secure the operation through more investments and offering unique products.

While I didn't have a million dollars.  I have been working for more than 4 years to make this a reality.  Check out my efforts here: https://bitcointalk.org/index.php?topic=86854.0

[franky1]

mining farm - nope, unless you can get rigs at 75% discount(even with free electric)

casinos- nope, the licensing costs will take most of the funding before you even go online

exchanges- nope, the licensing costs will take most of the funding before you even go online

selling products - maybe, but break even may take a while if you bought $1m stock upfront
selling products - yes, but only if you ran the business via a drop shipper so you don't have to pay out on stock initially

selling services - maybe, but break even may take a while if you contracted $1m of employees salary upfront
selling services - yes, but only if that service doesn't require licences or much upfront labour

what i have found as being the most productive viable bitcoin centric business, is conferences. working out the costs upfront, knowing the capacity of the location, and the popularity of the location to know how 'sold out' the event can be. will allow you to price the tickets effectively and the only upfront cost is then reserving the location before being able to sell tickets.

[Yakamoto]

mining farm - nope, unless you can get rigs at 75% discount(even with free electric)

casinos- nope, the licensing costs will take most of the funding before you even go online

exchanges- nope, the licensing costs will take most of the funding before you even go online

selling products - maybe, but break even may take a while if you bought $1m stock upfront
selling products - yes, but only if you ran the business via a drop shipper so you don't have to pay out on stock initially

selling services - maybe, but break even may take a while if you contracted $1m of employees salary upfront
selling services - yes, but only if that service doesn't require licences or much upfront labour

what i have found as being the most productive viable bitcoin centric business, is conferences. working out the costs upfront, knowing the capacity of the location, and the popularity of the location to know how 'sold out' the event can be. will allow you to price the tickets effectively and the only upfront cost is then reserving the location before being able to sell tickets.

I'm kind of curious as to what the licenses are that you'd need for running a Bitcoin casino online and where you would have to acquire them, and from who. For all a majority of sites care, form what I know, they are more interested in having their websites placed in countries outside of US jurisdiction and avoiding having to acquire any sort of license while still operating their business from wherever they are.

I'm not saying that you're wrong, I'm just curious. For a normal casino yeah I can see why you;d need to have a license, however for a Bitcoin casino I don't know what you'd need, if anything at all.

[franky1]

I'm kind of curious as to what the licenses are that you'd need for running a Bitcoin casino online and where you would have to acquire them, and from who. For all a majority of sites care, form what I know, they are more interested in having their websites placed in countries outside of US jurisdiction and avoiding having to acquire any sort of license while still operating their business from wherever they are.

I'm not saying that you're wrong, I'm just curious. For a normal casino yeah I can see why you;d need to have a license, however for a Bitcoin casino I don't know what you'd need, if anything at all.

remember even if you are not handling fiat. gambling licences are about gambling, not the currency used. if you dont believe me research poker chips and realise a poker chip is not fiat. yet las vegas needs a licence even when people gamble poker chips

having the server sat outside of the US is one thing.
but you are not allowed to serve american customers without a licence even if your casino is somewhere else.
satoshi dice learned the hard way and started blocking US ip addresses

you can try to play the game of blocking many countries ip address to remain legit to save on costs. but limit your customer base and possible income

you can try to play the game of selling your house and moving your family to a non-extradition country. and illegally serve Americans and risk getting caught if you accidentally went on vacation to an extradition country they follow you to..

but if you want to serve as many customers as possible and be legit. then there are costs in doing so.

there is however a loophole. making a casino into a service
"play for fun".. where the players never get to cashout.
this is why facebook doesnt need licences because you can buy facebook credits but offers no cash out option, thus deeming facebook poker a game/service instead of a gamble.
but facebook is then in the category of a "service" which my last post said was good. which while you may want to go down that loop hole. you will probably be better off creating a different game or range of games

[Rubberduckie]

not even sure I would invest it. I would either buy a few properties to flip or hold for
tax reasons and rent them out or I would just invest it in stocks and make money off the
dividends.

[hajimasan]

Hello,

If you had $1M in US Currency what business where you can get paid in Bitcoin would you start?

How would you invest the money in that new business you want to start?

Would you be able to make a living and draw a salary from this business?

It can be anything that doesn't break the law, including casinos or bitcoin gambling games.

What would you do?

Looking forward to some great ideas

P.S: Business should be able to operate from anywhere in the world with a small team. Also it's important that you are able to get some money out of this business each year to pay you good salary of around 150k - 200k per year before taxes.

if i will have $1M usd then i will start my faucet site and one gambling site also . these will give me profit if i do the same what i planned .
secondly i think it would be a bad idea to make investment .

[springgers]

Double it with some alt especulation and...

"You get up two and a half million dollars, any asshole in the world knows what to do: you get a house with a 25 year roof, an indestructible Jap-economy shitbox, you put the rest into the system at three to five percent to pay your taxes and that's your base, get me? That's your fortress of fucking solitude. That puts you, for the rest of your life, at a level of fuck you. Somebody wants you to do something, fuck you. Boss pisses you off, fuck you! Own your house. Have a couple bucks in the bank. Don't drink. That's all I have to say to anybody on any social level."

Need I say more?

[bitcapitalist]

More ideas are welcome 

[MONKEYJUNK]

More ideas are welcome 

Does it have any bountie or whatever? Because I don't think people will come here and show to you the best ideas for nothing, if you know what I mean...