Need major help - PLEASE 1600 BTC

[betyourbits]

You should bet them all at http://www.betyourbits.com

[Lone Wolf]

1600 btc?  Wow!  That's 1.12 million USD.  If I had that kind of money I would cash out for now and hope to buy back lower.  "You can never go broke taking profits" (as the saying goes).

Another saying is that if you are losing sleep at night b/c of a trade or investment then that trade is too big.

But don't take my advice.  Its your money, you need to do what you think is best for you.  GL

[Lone Wolf]

You should bet them all at http://www.betyourbits.com

I checked out this site.  Can anyone tell me how much these btc numbers are in USD?  16mBTC, 14mBTC.  Much appreciated.

[raspcoin]

You should bet them all at http://www.betyourbits.com

I checked out this site.  Can anyone tell me how much these btc numbers are in USD?  16mBTC, 14mBTC.  Much appreciated.

About $10. In general, you can substitute mBTC by $ for a good approximation.

[raspcoin]

1600 btc?  Wow!  That's 1.12 million USD.  If I had that kind of money I would cash out for now and hope to buy back lower.  "You can never go broke taking profits" (as the saying goes).

Another saying is that if you are losing sleep at night b/c of a trade or investment then that trade is too big.

But don't take my advice.  Its your money, you need to do what you think is best for you.  GL

I think you should take this (bolded) advice.

[beetcoin]

man, i only want 1/3rd of 1600 BTC. like everyone says, try localbitcoins and gradually withdraw. with 1600 BTC, you may be set for life.. as long as you use your finances wisely.

[zackclark70]

your best bet would be to cash out 1btc a month and live of that money and as bit coin rises over the next few years your monthly money will go up

I can give you what ever info / advice you need just shoot me a pm

( I do not want any money / bit coin / payment I just don't want to see you get screwed over )

[ProfMac]

1.  Talk with a CPA or the equivalent, and get a professional opinion about the tax situation coming up next year.  Don't do something because of rumor or a mistake.
2.  Read about the Winklevoss SEC filing.  In particular, see if it is possible to put a lot of the bitcoins into a fund that in turn can be put into a tax sheltered retirement account.
3.  Do something good and important with some of the coins.  This depends on your own personal interests.  Perhaps help a college, or a charitable foundation that works for some cause that you think is important.  My own cause is related to domestic violence / violence against women because my daughter was murdered by her boyfriend.  
4.  Again, talk to the CPA and find a way to withdraw the money over a period of years with careful attention to the tax situation, but enough money to pay your minimum food and shelter, but no frills.  Get a job for the frills, let the bitcoin keep growing.
5.  Don't try to do currency exchange.  If you ignore this, get a practice account and after you lose all that money then do not try to do currency exchange.
6.  Invest in something that will help the bitcoin community.  Pay to develop software that does something important, or help start a bitcoin economy in a small town.  For example, I live in an isolated town of about 5,000 people with about 1,800 students in it.  A donation of a few hundred bitcoin spread among several merchants and all the students could dramatically increase the future value of bitcoin.  Find a similar situation and support it.

[beetcoin]

1.  Talk with a CPA or the equivalent, and get a professional opinion about the tax situation coming up next year.  Don't do something because of rumor or a mistake.
2.  Read about the Winklevoss SEC filing.  In particular, see if it is possible to put a lot of the bitcoins into a fund that in turn can be put into a tax sheltered retirement account.
3.  Do something good and important with some of the coins.  This depends on your own personal interests.  Perhaps help a college, or a charitable foundation that works for some cause that you think is important.  My own cause is related to domestic violence / violence against women because my daughter was murdered by her boyfriend.  
4.  Again, talk to the CPA and find a way to withdraw the money over a period of years with careful attention to the tax situation, but enough money to pay your minimum food and shelter, but no frills.  Get a job for the frills, let the bitcoin keep growing.
5.  Don't try to do currency exchange.  If you ignore this, get a practice account and after you lose all that money then do not try to do currency exchange.
6.  Invest in something that will help the bitcoin community.  Pay to develop software that does something important, or help start a bitcoin economy in a small town.  For example, I live in an isolated town of about 5,000 people with about 1,800 students in it.  A donation of a few hundred bitcoin spread among several merchants and all the students could dramatically increase the future value of bitcoin.  Find a similar situation and support it.

sorry to hear about your daughter.. that's pretty messed up. anyways, that's solid advice.. i'd consider all of them.

[GroinCoin]

the Lamborghini dealership in LA just sold a car for bitcoins so there you go. also, I've got Polish in me. in fact, funny story, when my ancestors first came to America on the boat their name was L***dinski, but the US customs people or whoever was like no fuck that, from here on out it's L***dinsky. I know you probably want to donate now, but my coinbase wallet isn't activated yet.

[gekkomk]

Gold isn't stable at all. The price has been dropping for ages.

Gold isn't so stable, but dropping for ages uhm... maybe someday will go down but not in short-term: http://www.kitco.com/scripts/hist_charts/yearly_graphs.plx

[crazywack]

I would take 75% out of BTC and diversify it. put some in real-estate, Altcoins, and maybe a small bisness of your own. In order to live continualy threw retiernment you will need cash flow. Do you really want to put that money in the stock market? you trust those guys? property you can rent out will generate a decent monthly income. You can even farm out the management of those properties for 5-10% rent cost per month.

Do what you feel is your dream, find something you love to do everyday and make it your carrer! you have the money to do it so live your life the way you want!

I wont past my address, I would feel like a mooch 

-Crazy

[balanghai]

Hey try to buy an apartment and rent it out. That way you have steady monthly income and you have a house to stay. Also buy windmills and solar panels for free electricity. 

[zubelutte]

Sell some Bitcoins and keep the rest for future. Register at localbitcoins and become seller

[jongameson]

save as much as you can, cause we're going up to $20,000 in the next 2 years

[kokita]

I have 21 million BTC, I don't know what to do with them either.

sell them
     

[Gemminyc]

save as much as you can, cause we're going up to $20,000 in the next 2 years

This. If you wait few more years, you will turn 18 so it will be much easier to sell the coins + most likely higher value

[kokita]

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.

You can sell me 10 in exchange for my recognition and gratitude
    
                                              

[kujata]

INVEST!

There are some good alternate coins out there that would love you on board. I recommend stablecoin or worldcoin because I really believe in them. But there are a ton of other coins you should look in to and make your own decision.

[tescomatty]

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.

You had the missing BTC in Bitcoin-qt wallet or online (exchange, mining pool) ? It would be worth to figure where you have the remaining BTC