Need major help - PLEASE 1600 BTC

[FanEagle]

It's interesting to read this story.
What I would do is pretty simple:
Withdraw 2 btc per month.
When you get 18 you can do anything u want, like buying an house for btc or so.
Invest in LTC,they will rise.
But I highly doubt you personally bought 2000+ bitcoins. you were 13 yrs old, who gave you all that money?

[richforeveroneday]

Buy all alt-coins with 5-10BTC each from Btc-e and save them in paper wallet. And save rest BTC in paper wallet too.
And when you want buy something cash out for it and hold rest until BTC became worlds main currency, and BOOM you are top 100 richest man in world.

Feel free to donate, respect:
1Agy5BVCxFHi34nJxPdggyAoGh4XLAwbdP

To be honest I think the reason BTC went up is all to do with Silkroad site. There is a good chance LTC would go up, if major BTC vendors support them i.e Mtgox etc. but alt coin? I don’t know what makes this better then BTC? sorry if i sound rude i just want to know what your thinking

[the joint]

This is some advice that might save you some headache: 

Contact BitPay and see if you can't open a miner's account.  This will allow you to cash out through BitPay, bypassing the exchanges entirely.  Talk to them about the amount of BTC you may cash out at any given time and see if there are any transaction limits.

This will allow you to do several things:
1) You can cash out without worrying about the clusterfuck that occurs on exchanges during massive swings.
2) You can cash out without having to hold your funds indefinitely on an exchange.
3) You can let BitPay credit your bank account via an ACH transfer rather than waiting forever for exchanges to clear a wire transfer.

[richforeveroneday]

WOW I am replying back to all your guys one by one. They’re some very good ideas here for sure, but I need ideas that require thinking out the box. But some of them I have issues with and I will explain why and if you could please tell me if I am wrong in what I am thinking.  

Thank you so much guys for all the love and support, keep up the good work guys xx

[richforeveroneday]

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

Yeah that true but if you have gold it will be worth something if you need hide in a park or something. They’re no telling with BTC. All I know is one day these Mafia cartels will know using BTC they can use to launder and trposrt cash to different countries without customs catching them (which is major issues and has not been perfected yet). But LTC can be used in the penny like we have in pounds, which can be used in today society for small purchases like beer or pizza.

1£ and 2£ are BTC

1p,2p,5p,10p,20p,50p are LTC

But with gold it should stay as there only a limited amount in the world.  But does gold get formed due to volcanic activity? If more occurred would that decrease the gold value rate?

[Holdaaja]

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

Yeah that true but if you have gold it will be worth something if you need hide in a park or something. They’re no telling with BTC. All I know is one day these Mafia cartels will know using BTC they can use to launder and trposrt cash to different countries without customs catching them (which is major issues and has not been perfected yet). But LTC can be used in the penny like we have in pounds, which can be used in today society for small purchases like beer or pizza.

1£ and 2£ are BTC

1p,2p,5p,10p,20p,50p are LTC

But with gold it should stay as there only a limited amount in the world.  But does gold get formed due to volcanic activity? If more occurred would that decrease the gold value rate?

No, mBTC are for that.

[richforeveroneday]

Invest 5-15 BTC in CGB. Price is going to jump with Madesparq soon

Any chance for tipping? I need a .1BTC if you're feeling generous lol

what is "CGB" and "Madesparq". please explain more and why you think this.

[richforeveroneday]

Take it and live a good life for ever. dont be greedy,and dont take them all out at once. take out 1 BTC at first,than the rest if it works out. good luck  

I really wish I could but all my family is poor and on befits before I help myself. I have to think of them and the charity too.

But if I take them out one by one I could easily because the price is very low right now.  It would be better if I sell them on localBTC at higher price. But being new and charge a high price will mean no sales. What do you think ?

[zackclark70]

Take it and live a good life for ever. dont be greedy,and dont take them all out at once. take out 1 BTC at first,than the rest if it works out. good luck  

I really wish I could but all my family is poor and on befits before I help myself. I have to think of them and the charity too.

But if I take them out one by one I could easily because the price is very low right now.  It would be better if I sell them on localBTC at higher price. But being new and charge a high price will mean no sales. What do you think ?

just cash out as you need the money or cash out a few each time you think its at its peak

[richforeveroneday]

Don't cash out all of it, take a large portion of it and convert it to fiat and use it for whatever you want. I suggest starting a website if you're down to gain more BTC, as it's one of the most profitable. I have ran several BTC-related websites and I would say it's quite profitable. Good luck to your endeavors.

I love that idea mate, but I don’t have to cash out all my money or anything . as I have such a big amount I could just easily buy and sell (high vs low) them and use the profits to buy a flat and leave it on rent.

If we was to start a BTC site what do you have in mind. Also what kind of BTC sites have you run before? And which ones did you get the highest and quickest turnover with?

[Trade101]

I am in UK, I have used them to buy the coins from them first but got very creped out when they asked for ID and I stopped buy coins after that. Since then I held on to them.

There pervious Barclays bank account has also been shutdown since then. I can ask them to pay via there Polish account. Is that a good idea?

I really don’t know what I am doing and just don’t want to regret the chances I got right now.

they have slovenian bank account (Unicredit)
SEPA withdrawal will work for you.

[richforeveroneday]

Here's what I woul do:

-Sell for cash (lucky you, it 's a lot of cash): 20%
(I would wait for best price, probably in vacation when people have more free time the demand and price will go up)
-Invest 10%
(stock markets, Bitcoin investing, whichever you prefer. I personally like NASDAQ, but that's just coz I'm kinda geeky...
-Trade for LTC: 10-15%
(probably going to increase value in the next few months)
-Trade for gold: 5-10%
(always a stable value)
-Maybe buy a bit of Primecoin , Peercoin etc.: 0.5% to 1% each.
-Save the rest (at least half) if you don't need the money right now.


I wouldn't mind some tipping

199C1VPWK6GSsHjsHagn4Pj9zRAb5P9YWr

thank for the help buddy but, If I have to cash it out I rather buy a flat in Chelsea and leave on rent. To pay for my son wedding and to have a home when I die.

Should I just buy and sell use the Mtgox and use the feature to buy and sell the coins at certain price?

Honestly I think the reason why LTC is going up is because people are investing hoping for the same thing to happen like BTC but I think the reason why LTC wont go up is because no active drug site will use them. Atlantis was the only one and when they were in operation the price of LTC grew.  I think if was to get implemented in a site, it will increase the value.  But I don’t know it may work like magic for the LTC,  I think namecoins has a better chance if it was used alongside PGP.

Gold is a good idea. I could also keep that in a bank safe. But I could get more money just buy renting the house or even giving my money to the bank.

Do you think the BTC has reached it peek at $1,215?

I understand the way you see it.

Here are my main concerns:
.
Mtgox will literally rip you off with fees. So will bitstamp. I beleive you already know that, so here's my solution Find a local dealer and see if you can negotiate fees with him, based on the large volume of BTC you are willing to exchange. You're probably best off like that.

The flat idea sounds great, but I wouldn't do it unless I can find someone who will accept BTC's as payment. Again, passing BTC's to cash will fry you in fees, so see if you can find a dealer working with bitcoins.

You are making a good point on the durg market affecting the value of Litecoins. The way I see it, Bitcoins have reached such a high price that public is shifting towards more affordable cryptos'. Whether they do it hoping for their value to rise or for the sake of convenience, we would have to run a poll around here. But there is no doubt that, if the LTC demand rises, the early bird gets the coins.

As for the peak 1 at 1215, it depends on how much of a long term you are willing to work on: My beleif is that during vacation, and especially with Christmas sales having already started in some places, the price of the bitcoin will go up. If you want to work on a monthly basis (short term), BTC will probably reach that price again by the end of this year. If yoo want to work on a yearly basis, then certainly BTC will surpass 1215 a year from now.

Hope it helps you make up your mind!

P.S. I took the liberty to check your balance, congrats on such wise investing!

199C1VPWK6GSsHjsHagn4Pj9zRAb5P9YWr

I love this too,

You are right they are expensive but if I just used Bitstamp just to buy and sell my coins, when the coins are cheap and sell when they are high. Put the money aside like in a new wallet and cash that profits out to buy my parents a house or myself a new development project of flat. So the flat not ready and give them my funds as deposit and when the flat is ready I would have bought for much cheaper the flat. Then I would not have to worry paying in BTC ill pay in £. But I know the fees are a killer.

Also in regards to local dealers I don’t trust them. I would be lucky if I make alive when they see me. But LTC could be the future, If this and namecoin was to be implemented in a drug site it would make the price rocket at least to the £70 or £110 mark maybe. I  also believe that the use of namecoins would make harder for LE to obtain the money, so may be this is better to invest in?. LTC is the same as BTC it just has a different name and right now it going cheap.  I think Atlantis (ex number 2 drug site) was the only site that used LTC and now they are not here any more, so the price may be stable till then. I also believe that was the reason why LTC was worth more then a dollar. I also think that LTC is gone up only because investors believe that it shoot up just like BTC and is very likely to hold as it will stay stable and also when then biggest investor has sold their LTC they big a panic sale and other people who have paid more for them now would lose out. Am I right?  . But we all know in our hearts that BTC increase in price had allot to do with Silkroad and for the sake of LTC Atlantis could be the reason.


I really like your critical analyzing and style of smart thinking.  I could just hold on to them and just wait more. But I do agree with you that the drug users need their medication and this should increase the price of the BTC, as it does every year.  In that case I am better of buying more with the money I have left over.  But I have faith in BTC. Every time I see the market crash it always come back much stronger.  I think this like the 4th time.

What do you think mate. Am I wrong?

[richforeveroneday]

Gold goes up in the long term, its not been great the last couple of years but Im sure most think its still one of the safest investments.

True but does more volcanic activity decrease the value of gold? I have been told that the BTC are worth more then apple shares, Google and gold shares. Why do you think it safe to invest in gold? Isn’t the price of gold not stable yet I thought it was decreasing? Please let me know what you think?

[peterbyte]

Only cash out what you need for your personal spendings and maybe some other values you can easily buy like gold  and build up your reputation on localbitcoins till you are 18. When you are 18+ sell a larger amount of it and buy a house for you and your family. If you want to invest in mining or try investing at the stock markets use small amounts for testing till you convinced yourself that it is something you wanna do longterm.
You also need to check out what happened to the price of LTC and BTC after silk road and atlantis were closed.

[richforeveroneday]

Avoid MtGox whatsoever.
If you are looking for an exhange, use bitstamp or localbitcoin.

If you are need of money right now, then sell some for your need right now.

But, if you don't, I would suggest you to invest 10% in LTC and keep the rest.
You bought your bitcoins in 2012 when they were super cheap and now you see the price jump.
Price may jump again.

Tip me please? Any amount will be appreciated
1DbChzuyNbV9dDZnrMf8anc9Ba6YGhVK9P

Good idea mate. I am verifying with both them as we speak.
I don’t need the money but my parents are very old and have worked all their life. Even though we have like a hate and love relationship. I do love them lots and I want them to be proud of me.

The reason why the BTC were cheaper is because not allot of people knew about. You would only know about them if you was an investor and read this forum or you used Silkroad or similar site for illegal services. What do you think? I think that why the price jumped and went down when big coke and heroin vendors cashed out.

[richforeveroneday]

Whatever you do, avoid MTgox. It is one of the hardest place to get usd out.

I concur with this statement.  I have been waiting over 6 months to receive $1500 from them.  Their support "promises to send it soon" everytime I ask.

wow, i thought they were the best. are you vefired with them? or there no issue that you know of.

[richforeveroneday]

If i were in your place,  i would distribute coins like this:

1/10 - Sell in some good exchange (bitstamp, BTC-E) in small amounts
1/10 - Buy LTC mining Rigs with use for mining LTC an other cryptocurencies
1/10 - Preorder KNC future 3TH miner or 10 of these. They will have great resale value and they will definetly get back BTC you invested.
1/5 - Buy LTC and hold, it will be released in several big exchanges, so value will be up soon.

Other BTC just keep for future, better on paper wallet. You can see how to do it blockchain.info, but better do it  with armory.

I hope you got the right answers you looked for.

I will appreciate if you help me with some coins, for a very good advices: 16PfoGgnoX4FJwcuPtuypVHYi9A86DWXde

1. that could work
2. that sounds even better but does LTC have any real value now that atlanlts is not here?
3.  what are "KNC future 3TH miner "? sounds good but
4. why should keep in paper that how i lost the old ones.

please let me know what you are thiking

[ataulf]

A lot of people are telling you what they "would" do if they had 1600 BTC - invest 1/5, buy mining hardware with 1/3, keep 1/29 in a paper wallet, put 1/2 in a long term annuity, etc. When they'd actually cash half out via something like coinbase or BitStamp (which is based in the UK) and keep half or so as it is, to appreciate.

Go with your gut feeling. Don't fall for the hypotheticals; get some money for yourself, your family, etc and leave some for the future. That's my advice, from a fellow Pole

Oh, and a final tip - don't let people besides your parents know how much money you have. They'll start hovering around you not out of any sense of real camaraderie, but to get at your money. That's ruined a lot of instantly rich people I know personally.

[richforeveroneday]

Keep calm, this is still a big load of money.

Since you are this young , you may encounter some problems with cashing out large sums. ( At least this is what it would be like here in germany.)
Your Bank would probably tell your parents and you may not have control anymore over this money.

So you have to be smart about it , and while its painful to see it dropping wait a bit.

Cashout a small amount that you feel comfortable with having on your bank account via bitstamp.

Like others pointed out , use localbitcoins for some additional cash.

I will not advise you on any altcoins because you probably can loose a lot of the money there.

Hold the rest until you have an age where control of this money is guaranteed yours.

I think your right it would be the same here in UK.  But it ok I will help my parents out there old and cant work.  But it is a smart idea no lie. But I am trying to verifying with local bitcoins but when you have the money dropped in your account. Is not taxed and could this be a volition of the FSMA 2006 namely money laundry regardless of the sale being done in good faith and clean hands (lord diplock).  

The most F****D up thing would be if bank seize the money under money laundry under the this act the bank cant tell me anything (breach of tipping off). So I will be screwed big time.  They may even use the Precedes of crime act and seize goods that have that could be obtained from my profits. What do you think?

Why do you think alt coin wont increase in value?

[richforeveroneday]

...here my wallet check it out on blockchain

1GDCa1L4Z8DBZQv8gWK8k1HZkMdFy4mbGU

so you are the 500th wealthiest wallet out there (check http://bitcoinrichlist.com/top500)?

I have 1600 bTC.

blockchain says you have 2270 BTC

I had over 5,000+ but all I can remember is this account.

wut? have you at least tried to recover them?

I don’t know what to do with them. Should I take them out or should I keep them?

if you are not trolling (which I heavily doubt) then you should take one third to enjoy your life, third to establish a business and third to keep for future.

wow I just see that, thank god it don’t have my name.

The rest of the coins are my older brother. Who is keeping them till he dies. He made his mind up and wont change.  So only the 1606 is just mine to be honest.

I cant recover them as they were on paper wallets and I cleaned the hardirive several times with many new updates.

I don’t have a life and I don’t mind helping my family first I happy with my life. I think god gave the money to help others.  But I don’t mind getting business what do you have in mind?