Wow, lots of BEARS in this topic
spoilt bastard!
Go fucking die spoiled bastard! FTFY
Go suck a dick. You have no idea who I am and whatever relationship I have with my family is none of your concern. I don't get a penny from my parents, I live on my own barely making rent. I don't even have a bed in my room, I sleep on a blanket on the floor.. that's how poverty I am right now. I am only borrowing this money. If you're jealous then that's your problem.
...
3. Depending on where you want to spend your $million, there will be a long list of sell-orders waiting for you to purchase. If you were to use sites like Coinbase, Bitstamp or Mtgox, you'll have to expect the average price per bitcoin to be up to ~5% higher than the current price for those last few hundred bitcoins of your $1million purchase. An example: A few days ago i saw someone buy out 940BTC from Mtgox. This order ate up every sell-order from $1040 all the way up to $1070, thus driving the price up $30. I would consider buying in portions. Perhaps buy ~100BTC every hour for 10 hours or so?
....
Thanks for the solid advice, I guess I'll look i'll do some more research first.
It took me a lot of convincing but I somehow managed to convince him without telling him exactly what I would do with the money.
Not sure why it was so hard, my dad would loan me 1 million dollars blind no problem
Because i don't always make the most responsible decisions, i'm not the smartest in the family by any means.. but I have balls
Bitcoin always spikes in value after a media blitz via a speculative bubble, then crashes hard a few months later. Those of us who have had their ear to the ground have seen it happen, first in May of 2011, then less so in Jan 2012, then again in August 2012. Do NOT invest in $1 million in bitcoin unless you are prepared to lose $990,000 of it.
The recent media attention that bitcoin has received is the sole thing fueling this bubble.
....
I doubt there'll be enough sellers at any one point in time for you to drop $1 million into the market. Dropping $1m in a day might actually cause the speculative bubble to burst, since you'd spike the value so quickly that the speculators will panic-sell.
....
1. I get what you're saying but if the price "always" follows history everyone would be rich. Following charts and comparing "bubbles" only for delusional investors who think they are smart enough to beat the system. My guess is just as good as yours.
2. So you are saying that in a $12 billion market cap my $1 million will affect the price enough to cause panic selling?
Now it is a good time to buy, but don't all in at once
why not? it would drive the value up for all of us. he could let us know when he's buying, so after he puts in his buy order, we could sell and then buy it back when it bottoms out
Go fuck yourself, why would I tell you if y'all trying to screw me like that
.............
What I can do, is keep your coins in cold storage where no online hacker can steal it. Think of it as offshore safe deposit box, except I generate a completely random private key and bitcoin address(es) for you, print it on paper, then store it in a safe place.
..............
Get the fuck out of here if you think I would even consider doing this... lol
Roughly the equivalent of borrowing money from your dad to put it all on roulette in Vegas.
If you can't afford to pay your dad back (which is sounds like you can't), you're scum.
How is gambling in Vegas the same as investing in something revolutionary? Please explain.
And yes, if I can't pay him back I am scum.
Wow. You are fortunate to have a wealthy father that is willing to give you this opportunity.
Yes it is risky. Start-ups are risky investments too. Having started a business that failed I know first hand how they can go.
Bitcoin has been much more profitable and we put WAY less money into it than we did our business. Wish we had the money for BTC now, but oh well. Life works out that way sometimes.
I think it is a gutsy move but all signs are pointing towards an amazing 2014. My advice would be that as soon as the price that you paid for your BTC doubles, just pull out your initial investment and pay your dad back then you will have $1,000,000 in free BTC at that point! Pretty cool!
I would talk to an accountant too and figure out the best way to do that too. There are some long term capital gain laws that carry into next year it appears that can put you at 0% if your annual income is in the lower brackets. I am in no way qualified to give tax advice though so please consult a professional on this. (Have to put a disclaimer here
)
Oh heavenly blessed beauty whose beauty is so divine and everlasting... We could have been together baby. We coulda been in the topics sippin on piña coladas...or go to the slums where killas get hung shawty I could take you there. But you had to get married before we met
1,000,000 is enough money to retire on. Talk to someone who knows something about investing and have him set you up with a solid portfolio. You should be able to withdraw 40k-70k a year. With that type of money you can coast, travel, pursue any interest or hobby. Congratulations you have freedom. Don't fuck it up by dumping it all in bitcoin.
Slow down and think.
lol wut? 40-70k a year...fuck that. This is not my money dude. I can't retire on my dad's money and live off interest
If you look through ops post history you'll discover quite quickly that he's a pathological lying troll.
That's great chong hung, I don't really care what the fuck you think about me and whether you believe me or not
