gentlemand
Legendary
Offline
Activity: 2590
Merit: 3014
Welt Am Draht
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 06, 2013, 10:05:40 PM |
|
As above. Start the best exchange out there. The skills must be on this forum. Bitcoin goes up - you make a ton of money. Bitcoin panic sells - you make even more.
You're suddenly totally immune to anything the market does and you create a massive cash cow.
Once your year is up you have your fortune. Either sell it for megamillions or keep it yourself and accumulate megabillions.
|
|
|
|
Impaler
Sr. Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 826
Merit: 250
CryptoTalk.Org - Get Paid for every Post!
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 06, 2013, 10:15:10 PM |
|
People should realize that in order to sustain this $1k valuation of BTC, you would need 3 to 4 Fools like the OP EVERY SINGLE DAY to buy up the newly mined coins. But their are NOT that many fools in the world, once miners see their profitability squeezed out by rising difficulty they will HAVE TO SELL COINS DAILY to cover their costs and see a return on their mining equipment. The market can not remotely absorb that kind of selling pressure, the Entire USD depth on Gox would be consumed in 1 week.
|
|
|
|
Fuyuki_Wataru
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 167
Merit: 10
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 06, 2013, 10:15:36 PM |
|
Manage it. You can invest small amounts into Litecoin. Wait for litecoin to hit MtGox, and watch it's price skyrocket. Be there... Be for it's too late ;-) NEVER, NEVER, NEVER trust a proposal for help, assistance or anything of any user of the forum, which has less than 600 comments and who is registered after 01.06.2012!
Shit, I registered on 02.06! Word of the wise.. don't trust anyone, not even the mods ;-)
|
|
|
|
wachtwoord
Legendary
Offline
Activity: 2324
Merit: 1125
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 06, 2013, 10:16:29 PM |
|
People should realize that in order to sustain this $1k valuation of BTC, you would need 3 to 4 Fools like the OP EVERY SINGLE DAY to buy up the newly mined coins. But their are NOT that many fools in the world, once miners see their profitability squeezed out by rising difficulty they will HAVE TO SELL COINS DAILY to cover their costs and see a return on their mining equipment. The market can not remotely absorb that kind of selling pressure, the Entire USD depth on Gox would be consumed in 1 week.
I'm pretty sure you're the fool here.
|
|
|
|
sgbett
Legendary
Offline
Activity: 2576
Merit: 1087
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 06, 2013, 10:25:58 PM |
|
People should realize that in order to sustain this $1k valuation of BTC, you would need 3 to 4 Fools like the OP EVERY SINGLE DAY to buy up the newly mined coins. But their are NOT that many fools in the world, once miners see their profitability squeezed out by rising difficulty they will HAVE TO SELL COINS DAILY to cover their costs and see a return on their mining equipment. The market can not remotely absorb that kind of selling pressure, the Entire USD depth on Gox would be consumed in 1 week.
I don't sell what I mine, I'm going to go out on a limb and say that I'm probably not the only one. I realise that doesn't negate your argument, but its a factor worth considering. Then there is this idea that $3.6m is a lot of money. To me and you maybe. As a fraction of 'investment capital' being thrown around every day, maybe not so much?
|
"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto*my posts are not investment advice*
|
|
|
Impaler
Sr. Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 826
Merit: 250
CryptoTalk.Org - Get Paid for every Post!
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 06, 2013, 10:40:33 PM |
|
People should realize that in order to sustain this $1k valuation of BTC, you would need 3 to 4 Fools like the OP EVERY SINGLE DAY to buy up the newly mined coins. But their are NOT that many fools in the world, once miners see their profitability squeezed out by rising difficulty they will HAVE TO SELL COINS DAILY to cover their costs and see a return on their mining equipment. The market can not remotely absorb that kind of selling pressure, the Entire USD depth on Gox would be consumed in 1 week.
I don't sell what I mine, I'm going to go out on a limb and say that I'm probably not the only one. I realise that doesn't negate your argument, but its a factor worth considering. Then there is this idea that $3.6m is a lot of money. To me and you maybe. As a fraction of 'investment capital' being thrown around every day, maybe not so much? No you didn't negate my argument, you confirmed it. Miners are like you hoarding because they see huge gain on paper, this means that virtually none of the newly mined coins are sold and thus the stock of circulating coins doesn't grow, it actually shrinks as people buy them up. We have been at under 1 week worth of mined coins available to buy now for some time. But miners can not hoard coins forever, they have costs which always rise to match their marginal costs. Millions are indeed not a lot when it comes to investment capitol, but the idea that investment capitol is whats supporting BTC prices is absurd, it's still driven by small-fry people investing on media hype or ideological reasons.
|
|
|
|
Carlton Banks
Legendary
Offline
Activity: 3430
Merit: 3080
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 06, 2013, 10:52:50 PM |
|
One point no-one has raised yet:
Eventually, your Dad may say "So, tell me about this start up!? Where's your operation? How much business/employees have you been turning over?"
This is a problem, whatever your strategy throughout 2014. The longer you stall and provide zero evidence, the more suspicious he might get.
Can you get through 2014 without him insisting on some demonstrative progress? Piling prevarication upon prevarication will not work forever. Even if it gets to Christmas time next year and he's got his $1 million back, what are you gonna say, "Oh, the startup folded. Decided to move onto something else with my profit". He (and those he talks to about it) might think you're being too secretive, they might think you're doing something of questionable morality with his investment money.
Will he be okay with it if you tell him the truth at some point? If not, you're playing serious games with family relationships just to make money (I can imagine that maybe if Dad doesn't like the way you went about your plan, some other family members could maybe take that side too?)
|
Vires in numeris
|
|
|
seriouscoin
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 06, 2013, 10:56:26 PM |
|
To all the members that got trolled in this thread,
please search the OP's post history b4 you actually believe a word he said.
After reading the OP i knew hes trolling all you guys.... skimp thro post history and .... yeah lol .... ppl actually missed this?
|
|
|
|
Blinken
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 06, 2013, 11:00:48 PM |
|
Answers below: Which brings me to my questions...
1. Am I being really stupid and optimistic to think this way? How much of a chance/risk do you think it is for the price to not go up any higher in 2014? IMO, it almost seems guaranteed the price will at least hit $1200-$1300/btc sometime next year.... or is there a risk that I'm not aware of?
2. I have a coinbase account and it only lets me buy a max of 50 BTC at a time. Is there a place where I can buy as many as I want w/o any limits?
3. Will I even be able to buy $1mil worth of BTCs? Does it depend on who's selling right at the moment I'm trying to buy some? How does this work?
4. Will I have to pay taxes on capital gains? I don't wanna pay shit to the US gov, how would they know how much I made off BTCs?
I'm thinking of putting an automatic sell order right when BTCs hit $1500 in 2014.... is that too high or should I put a lower limit? I want to guarantee some profit before I get too greedy and potentially lose my dad's money. I figured if I sell at $1500 it would be a nice $400k profit for me, I could quit my job and chill in Miami and Ibiza for a year until I need money again.
Serious advice only please, I'm not fucking trolling
1. (a) The word "stupid" in investing is doing things that are provably incorrect. What you are doing is speculative, not provably incorrect. (b) Noone can predict the future, so it is unknown what the future price of a coin will be. Personally I think it is likely the value of coins will increase because currently the capitalization of btc is around $10 billion and there is a lot more money than this looking for a good home. I think a capitalization of between $100 and $400 billion can be expected eventually assuming the BTC protocol and cryptography remain unbroken. If they break, everybody loses all their money. (c) The risks you have are (1) bitcoin crypto is broken, you lose everything (2) world banks/govts attack BTC agressively, possible loss in value temporarily (3) you mishandle your coins (get hacked for example), you lose everything (4) somebody cracks your personal key somehow (never been done except with badly chosen manual keys), you lose everything (5) you enter into a bad transaction or put your coins in a faulty exchange or entrust coins/money to scammer, you lose everything 2. MtGox trades without limit but will not remit to US citizens. 3. Your best bet is to locate a dealer who will buy them for you and buy in limited batches at a time, say $10,000 or $20,000 worth. Make sure the dealer sends them to you. Don't let him hold onto your coins for you. Obviously you will need to master the details of cold storage and using BTC software. Alternatively, if you know a non-US citizen whom you completely trust, they can set up a verified MtGox account and buy the coins for you. 4. The US monitors all wire transfers. If you get a wire transfer to your account they will know. It is unclear whether BTC counts as a currency gain or income under US tax law. So you may owe full taxes. Logically speaking it should be taxed as a currency appreciation because the SEC has deemed it as "money", but there is no telling what the IRS may rule. Expect a ruling sometime in the next few months. ------------------------------------------------------------------------------------------------------ Other comments: * It is very unwise to obtain money under false pretences. You would be well to come clean with any "investors" you have, so they know exactly where their money is going. Violating this basic principle will result in damaging your reputation in ways you can't even imagine. * Before messing with bitcoins, it is a good idea to learn how they work in detail.
|
Bitcoin ♦♦♦ Trust in Mathematics, Not Bankers ♦♦♦
|
|
|
uyo
Newbie
Offline
Activity: 36
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 06, 2013, 11:04:51 PM |
|
good buying opportunity may be on the horizon
|
|
|
|
Ibian
Legendary
Offline
Activity: 2268
Merit: 1278
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 06, 2013, 11:14:45 PM |
|
To all the members that got trolled in this thread,
please search the OP's post history b4 you actually believe a word he said.
After reading the OP i knew hes trolling all you guys.... skimp thro post history and .... yeah lol .... ppl actually missed this?
Of course it could be a troll, more likely than not probably, but even so stories like this are entirely possible and have probably happened before and will again. It's a worthy discussion.
|
Look inside yourself, and you will see that you are the bubble.
|
|
|
Edward50
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 06, 2013, 11:17:01 PM |
|
To all the members that got trolled in this thread,
please search the OP's post history b4 you actually believe a word he said.
After reading the OP i knew hes trolling all you guys.... skimp thro post history and .... yeah lol .... ppl actually missed this?
Of course it could be a troll, more likely than not probably, but even so stories like this are entirely possible and have probably happened before and will again. It's a worthy discussion. Did you read that story of the 13 year old wanting to invest his college fund in bitcions?
|
Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
|
|
|
kireinaha
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 06, 2013, 11:21:33 PM |
|
To all the members that got trolled in this thread,
please search the OP's post history b4 you actually believe a word he said.
After reading the OP i knew hes trolling all you guys.... skimp thro post history and .... yeah lol .... ppl actually missed this?
Of course it could be a troll, more likely than not probably, but even so stories like this are entirely possible and have probably happened before and will again. It's a worthy discussion. Did you read that story of the 13 year old wanting to invest his college fund in bitcions? That was a troll.
|
Night gathers, and now my bitcoinwisdom watch begins.
|
|
|
bitcon
Legendary
Offline
Activity: 2212
Merit: 1008
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 07, 2013, 12:01:29 AM |
|
plz save us all and buy all in for $1M ASAP ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
|
|
|
|
Patel
Legendary
Offline
Activity: 1321
Merit: 1007
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 07, 2013, 12:02:43 AM |
|
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.
Lol bullshit. You are living in poverty and can barely pay rent? Yet your parents will give you a million dollars to gamble? You make it seem like your parents don't give a shit about your living conditions but will give you a million dollars to make a bet.
|
|
|
|
Tirapon
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 07, 2013, 12:03:32 AM |
|
Can I make a suggestion?
If your Dad has $1 million to lend you for a year, surely you could just borrow $50k more or less indefinitely. You will find this much easier to invest in one go. Try to buy on a dip. Sit on it for at least 1 year, no matter what (preferably 2 years). Follow the market closely but don't sell in a panic. Be prepared to lose the full amount (you would have to be prepared to lose the $1m, so this is less of a risk).
Okay, if Bitcoin really takes off in the next few years, we may well see a further 20x, and you get your $1m. Pay your Dad back and enjoy your newfound wealth.
If it fails, you owe your Dad $50k - a failed business venture. You have some hope of paying that back, or perhaps if he is as wealthy as your post suggests, he may write off the debt.
I suspect this thread is a troll, but if not, that's a lot of money to be throwing at something which you obviously don't have much understanding of.
|
|
|
|
bitcon
Legendary
Offline
Activity: 2212
Merit: 1008
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 07, 2013, 02:18:19 AM |
|
now would be a good time to buy! ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
|
|
|
|
lophie
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 07, 2013, 02:21:17 AM |
|
Yes seriously if you want to gold for a couple of months NOW is the time, ignore this and you will remember it in the future... Lophie told me to buy....... I did not.....
Acta Est Fabula...
|
Will take me a while to climb up again, But where is a will, there is a way...
|
|
|
zedicus
Legendary
Offline
Activity: 966
Merit: 1004
CryptoTalk.Org - Get Paid for every Post!
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 07, 2013, 02:24:56 AM |
|
wait for it , wait for it....
buy buy buy buy buy buy buy buy!
|
|
|
|
QuestionAuthority
Legendary
Offline
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 07, 2013, 09:10:14 AM |
|
So troll, do you still want to spend a million of daddy's money on Bitcoin? Wait till this time tomorrow and you may only need $100k to buy the same amount as when you started this thread.
|
|
|
|
|