Need major help - PLEASE 1600 BTC

[Inedible]

I'm afraid you're going to have some issues if you wish to cash out.

You're considered a minor under UK law so you'll need a guardian with you to either countersign or to get an account that will accept large volumes of cash.

As others have suggested, you might want to diversify so that you don't have all your eggs in one basket.

Keep investing until you're 18, then you're old enough to do everything yourself.

[netolka]

Hey richforeveroneday send me an e-mail i have few suggestions for you im almost same year like you, but i have a lot of experience and im pretty smart my e-mail : netolka4@gmail.com

[bitmixer]

Send it to my BITCOIN SCRAPYARD FREE yourself of burden of having property

[Stinky_Pete]

Keep them. If you are 16 then you will be amazed at how your priorities change over the next few years.

[r00tbg]

I have 1600 bTC. I don’t know what to do with them. Should I take them out or should I keep them? I had the coins since 2012, I had over 5,000+ but all I can remember is this account. The best advice will get some of my coins. Please let me know what you guys think. I was thinking the following:

1 - take the coins out via MTgox or bitstamp as I have registered with them and pay the 5,000 commissions to cash my coins out
2 - set up my own site via a PHP developer and cash out
3 - use the coins I have to buy and sell, i.e. buy high and sell low in the market (could have made $300,000 today)
4 - buy items with the goods and sell them in real life
5 - make my own site like localbitcions and pose either as seller or just use localbitons services
6 - start my own bit coin gabling/betting site
7 – make my own bitcoin currency
8 – spend my money on LTC and namecoins

I have a few more ideas but I think these were the best. I live in UK and I think there a tax law comes in to place in January. But the coins usually go even higher then you can think when there is a crash.  But if the tax law comes it mean for sure BTC will not be anonymous and therefore lose one it highest traitors, maybe namecoin will be market leader one day?

Please justify what you say and I know you guys are smart are there so, tell me what you would do if you was me.  If we go with option three I will pay up to 20 people to give me advise when to buy and sell and give them all a very small cut of the profit.  I am also stable I don’t need house or anything. This is change I have that I want to use to change my family life before I die.

Hello richforeveroneday,

My advice to you is:
1. Sell ​​37.5% of Bitcoins, around 600 BTC. This will bring you around $400 000 - $540 000. Sell ​​them to a series of 100 BTC in different market: MTgox, Bitstamp, Bitcoin.de, Kraken etc. (Bitcoin.de will pay you very quickly)
2. Half of the money, i.e. $200 000 invest in your education! This is an expense that will bring you income and security in the future, trust me.
3. With the rest of the money, i.e. $250 000 - $300 000, open your own Exchange! Money will get you to hire professionals to do your Exchange similar BTC-E, keep it at all costs and for at least 1 year of work by this Exchange. On it you can trade in addition to basic BTC, LTC and some of the alternative coins.
If crypto coins rise - you win 0.2% of turnover.
If crypto coins fall - you still earn 0.2% of turnover

In the last 24 hours, BTC-E have a turnover of over $160 millions! At 0.2% commission they have earned $320 000 for 24 hours, not care if the rate rises or falls!

4. If you do what I suggest, You'll stay with BTC 1000. Convert 25% thereof, ie 250 BTC into LTC.
5. The most important: Enjoy your life. You are young and life is ahead of you.

Whatever you choose, I wish you luck!

If you like the suggestions can you make me a small donation, it would be a great help for me (I do not want to beg, so I will not bother the audience with my life problems) .

donate BTC: 1346bV8xbJxxenEJRWfoaTm38pa2hpqjEc      

[umaOuma]

give me advise when to buy and sell

Wait for the current price to stabilize before considering to sell. Today price movement are just crazy

[Bakki]

I would backup my encrypted wallet to several USB sticks, memory cards and also burn it to CDs / DVDs. Keep them at secure places. Also consider renting a safe deposit box at your local bank.

Then I would just sit on them and get on with my life. 1600 BTC might be considered a fortune right now, but their value will almost certainly increase ten-fold in 5-7 years. AND, by that time, I'm sure cashing out will be infinitely easier than it is today. Yes, you might get hit with taxes, but I'm sure you won't care at that point.

[netolka]

Mail me you'll see ;-)

[MCRyan]

Please add me on Skype. I would love to suggest a few ideas. ryan.keenan.11 - Legit guy here. http://www.linkedin.com/in/rykeenan/

[MrCharrington]

I think the best thing to do is donate 0.5 bitcoins to everyone who has replied here so they can buy a PS4 for christmas!!  

1HhJ4NyDPss6TYm9Qu8zbo9kxUSCKNPhnM

You could use them to buy real life stock and sell them for cash but the only things that really hold their resale value are drugs and i'm not sure you want to go down that road? (unless you want me to be Saul??) 

What about using them to start a portfolio investing in small businesses/ websites? That way you distribute the coins out efficiently and will get a "real-life" return from stocks and dividends?

[ataulf]

Bardzo ładne, bracie...

dobra robota! Szkoda, że ja nie zainwestował jak tykiedy byłem 12 x)

[murderouskirk]

I have 1600 bTC. I don’t know what to do with them. Should I take them out or should I keep them? I had the coins since 2012, I had over 5,000+ but all I can remember is this account. The best advice will get some of my coins. Please let me know what you guys think. I was thinking the following:

1 - take the coins out via MTgox or bitstamp as I have registered with them and pay the 5,000 commissions to cash my coins out
2 - set up my own site via a PHP developer and cash out
3 - use the coins I have to buy and sell, i.e. buy high and sell low in the market (could have made $300,000 today)
4 - buy items with the goods and sell them in real life
5 - make my own site like localbitcions and pose either as seller or just use localbitons services
6 - start my own bit coin gabling/betting site
7 – make my own bitcoin currency
8 – spend my money on LTC and namecoins

I have a few more ideas but I think these were the best. I live in UK and I think there a tax law comes in to place in January. But the coins usually go even higher then you can think when there is a crash.  But if the tax law comes it mean for sure BTC will not be anonymous and therefore lose one it highest traitors, maybe namecoin will be market leader one day?

Please justify what you say and I know you guys are smart are there so, tell me what you would do if you was me.  If we go with option three I will pay up to 20 people to give me advise when to buy and sell and give them all a very small cut of the profit.  I am also stable I don’t need house or anything. This is change I have that I want to use to change my family life before I die.

If you're trying to sell you could consider going through coinbase. Wont get mtgox prices most likely but it's crazy convenient / secure & very minimal fees. no 5000 comissions

[totemITnow]

I think the best thing to do is donate 0.5 bitcoins to everyone who has replied here so they can buy a PS4 for christmas!!  

This, it would be best spend Bitcoins, and you could feel much better.
If not, hold tight, Bitcoin will have much higher value one day I believe

[niothor]

I have 1600 bTC. I don’t know what to do with them. Should I take them out or should I keep them? I had the coins since 2012, I had over 5,000+ but all I can remember is this account. The best advice will get some of my coins. Please let me know what you guys think. I was thinking the following:


I have a few more ideas but I think these were the best. I live in UK and I think there a tax law comes in to place in January. But the coins usually go even higher then you can think when there is a crash.  But if the tax law comes it mean for sure BTC will not be anonymous and therefore lose one it highest traitors, maybe namecoin will be market leader one day?

You claim to have 1600 BTC, but only got 1 post. Right, I can suppose you want to stay 'hidden'.

Your from the UK? How old are you if I may ask, because indicating from your post it doesn't seem like you are from the UK at all.
If anything, you seem like your from east Europe.

So, I think this is just another troll post.

no offence taken matey. i am 15 going 16 strong from Poland here my wallet check it out on blockchain

1GDCa1L4Z8DBZQv8gWK8k1HZkMdFy4mbGU

O yeah

https://blockchain.info/address/1GDCa1L4Z8DBZQv8gWK8k1HZkMdFy4mbGU
0a10f3e97dbc7d43a6404f73af790bd2a85ab58155abb85795df156212320ac7(Fee: $ 0.00 - Size: 1303 bytes) 2011-02-02 22:19:22

[galbros]

Ok, I have a hard time believing you were sophisticated enough to obtain 1600 BTC and really have no idea what to do with them, but here goes...

Congratulations, you're rich.

As a 16 year old Pole living in the UK I think you should probably tell your parents or legal guardian.  My guess, they will be thrilled and parents usually have the best interests of their children at heart, even if it doesn't always appear so.

I concur with all the suggestions for Local Bit Coins but I doubt you'll be able to move your horde too quickly that way.  Coinbase is good, but you'll need a bank account and since they are fairly legit, may at some point face taxation issues if you go with them.  Bitstamp is good for the EU I'm told, but have recently bumped up their documentation requirements, and I would stay away from Mt. Gox except maybe for trading.

You can liquidate a few of them at places like Gyft that will sell you gift cards or other easily tradeable items, e.g. silver or gold coins.

Longer term I could not agree more with the suggestion of investing in your education, but I would not start an exchange, or any other BTC site, until you are a competent programmer, and, no offense, if that were the case you wouldn't be legitimately asking about this in the newbie section.

Good Luck and enjoy your newfound wealth!

[Ymal54]

Try https://localbitcoins.com

[ninthaxis]

I would most definitely invest as much as you feel comfortable in WDC today.  Like in the next 5.5 hours.  China is adding WDC to BTC38 Exchange today at 3:00 PM Shanghai, China time.  Whatever you do not feel comfortable putting in WDC ASAP, break into fourths;  One fourth for debt, one fourth for future, one fourth for savings and one fourth for fun.

19r39gqy2PPm4izLXLNbW72riQz4maqRgF

Thank you and good luck!  Striking it big is a great opportunity to see just exactly what kind of person you are.  You get to see the parts of you that change because of money and the parts of you that stay the same because they are what actually defines you.

[xephireusMMX]

no offence taken matey. i am 15 going 16 strong from Poland here my wallet check it out on blockchain

With your age, you can sell Bitcoins only for cash, try look at localbitcoins for buyer

[JayB]

Guys aren't you ashamed of always asking for tips and butt-kissing users who have an abundance of Bitcoins?

What did this world come into 

[Bobbydiggital]

1600 BTC holy smokes, i think i def would sell 50% and use some capital to start up a business in any field that would accept BTC, also for the other 50% i would just sit on the as you are freerolling and could worth much more!