How do I achieve my goal of owning 10BTC in 2014

[DrBitcoin]

Hello. I have a goal of owning 10BTC by the end of 2014, hopefully sooner. I currently have 1.70 Bitcoin which I paid USD for, but my goal is to capitalize on the ups and downs of the market, sell high and buy low. My hope is that slowly over time, I will amass more and more. If it ever crashes, I will inject more USD into my investment, but for now I just want to try and parlay the BTC I have.

I have had great experience with Coinbase, and have accounts at Cryptsy, BTC-E and Mt-Gox. I've also checked out a bot site called Butter Bot, but this seems a bit complicated.

The problem I'm having is that transactions take too long. As far as I can tell, there is no "ETrade for a bitcoin" where I can move money into and out of the market in a matter of seconds. Coinbase is pretty awsome, but I am still at a .10 BTC /week instant buy limit, and in a few days should hopefully have 1BTC/week instant. This just isn't quick enough!

Can someone guide me with some recommendations? Should I make multiple Coinbase accounts and let them all mature for 30 days? Should I shuttle BTCs from one service to another? Is there another site I am missing?

Thanks!

[EcuaMobi]

What you want to do is very risky. You can earn 1 BTC/week or you can lose it.

If you're willing to gamble, I'd recommend trading alt coins. It's risky too, but at least the process is easier and faster.

Try buying alt coins low and selling high.

[hilariousandco]

What you want to do is very risky. You can earn 1 BTC/week or you can lose it.

If you're willing to gamble, I'd recommend trading alt coins. It's risky too, but at least the process is easier and faster.

Both are risky as you could lose all if you time the markets wrong or one doesn't recover.

Try sell some stuff for coins on the marketplace here or earn them other ways as well as trading.

[dizzyflamingo]

I find it absolutely wonderful that if someone posts from my IP that it forces me, on a separate computer to wait an additional 6 minutes to be able to post my new comment on the newbie section...which then allows me to start the wait to post in normal forums. Boy oh Boy this is just so incredibly awesome. I love the way this is set up and hope every single forum that exists today begins to implement this method.

Causing frustration is the greatest power there is and it seems to be utilized so well right now. It makes me want to obtain a second IP just for me so that I can post without having to worry if someone else is on it. God forbid someone else use the same IP to make a post eh? OH BOY MY FIRST POST IS DONE

[hilariousandco]

I find it absolutely wonderful that if someone posts from my IP that it forces me, on a separate computer to wait an additional 6 minutes to be able to post my new comment on the newbie section...which then allows me to start the wait to post in normal forums. Boy oh Boy this is just so incredibly awesome. I love the way this is set up and hope every single forum that exists today begins to implement this method.

Causing frustration is the greatest power there is and it seems to be utilized so well right now. It makes me want to obtain a second IP just for me so that I can post without having to worry if someone else is on it. God forbid someone else use the same IP to make a post eh? OH BOY MY FIRST POST IS DONE

The person posting for you IP was you. You need to wait a full 6 minutes before you post after you log-in. Attempted posts also count.

[jongameson]

Hello. I have a goal of owning 10BTC by the end of 2014, hopefully sooner. I currently have 1.70 Bitcoin which I paid USD for, but my goal is to capitalize on the ups and downs of the market, sell high and buy low. My hope is that slowly over time, I will amass more and more. If it ever crashes, I will inject more USD into my investment, but for now I just want to try and parlay the BTC I have.

I have had great experience with Coinbase, and have accounts at Cryptsy, BTC-E and Mt-Gox. I've also checked out a bot site called Butter Bot, but this seems a bit complicated.

The problem I'm having is that transactions take too long. As far as I can tell, there is no "ETrade for a bitcoin" where I can move money into and out of the market in a matter of seconds. Coinbase is pretty awsome, but I am still at a .10 BTC /week instant buy limit, and in a few days should hopefully have 1BTC/week instant. This just isn't quick enough!

Can someone guide me with some recommendations? Should I make multiple Coinbase accounts and let them all mature for 30 days? Should I shuttle BTCs from one service to another? Is there another site I am missing?

Thanks!

try eBay! 

[dhavin]

Two ways:

1) Crash the bitcoin market (ha! ..somehow) and buy up 10BTC for $1.
2) Get a job that pays about $100k yearly (after taxes), blow all of it on bitcoins.

So in all seriousness, what you're doing amounts to day trading. Super risky, but with risk there's the possibility of a huge payoff.

Good luck!

[insurancecoin]

Try buying alt coins low and selling high. This is a good advice!!! and U can sell BTC at high and buy at low, do more times

[DrBitcoin]

Two ways:

1) Crash the bitcoin market (ha! ..somehow) and buy up 10BTC for $1.
2) Get a job that pays about $100k yearly (after taxes), blow all of it on bitcoins.

So in all seriousness, what you're doing amounts to day trading. Super risky, but with risk there's the possibility of a huge payoff.

Good luck!

1) I wish I had that kind of power
2) I make over $100K, but I just bought a house and my disposable income is less than it used to be.

I don't mind some risk, but if I can't quickly sell at 900 and quickly buy at 799, it's hard to get any sort of momentum.

I work in the dental field, perhaps I can trade some sort of teeth whitening kit for a bitcoin? Not sure what else  I can barter?

[bitpop]

You would have better luck selling drugs on silk road

[CCHarris]

I think this is a very good goal, and I am also really trying to get 10 BTC, trading on BTC-E.  I have had quite a bit of luck, any tips from some of you veterans reading this post?

Thanks,

CH

[Sutters Mill]

Great idea. I'm doing something similar myself. Looking at all the ways I can to earn coin. There are tons of resources but look round the forum for ideas.

[ZeroMiddleMan]

The best way to get Bitcoins is to earn them, if you dont like to risk your fiat balance.

Work or sell stuff you no longer need for BTC.

[Open4lies]

The problem I'm having is that transactions take too long. As far as I can tell, there is no "ETrade for a bitcoin" where I can move money into and out of the market in a matter of seconds.

Moving USD internationally is very slow, so when you try to do arbitrage it can become painfully slow especially because some exchanges delay the typical 3 business days  internationall bank wire transfers to weeks

[Chancellor]

Also be aware that MtGox price has such huge difference for a reason...

[antonioneto]

try buying 1BTC and gamble to see if you get 10btc

[byt411]

try buying 1BTC and gamble to see if you get 10btc

Yup. Throw it into PrimeDice or some dice game and see if you get it back
Or you could send me 1 BTC, i'll give you 10 BTC by the end of this year xD

[DrBitcoin]

Really? You'd do that for me? You're such a good internet friend!

I never thought of selling stuff around my house that I don't need. But I can also sell stuff for USD on eBay, then convert the USD into Bitcoin. More fees yes, but at least eBay has a sound infrastructure so I don't get burnt.

I would love to accept Bitcoin at my dental office, but I know that 99.9% of my patients will have no clue what it is, and I can just as easily take their USD and convert it to BTC on Coinbase.

Eye on the prize: 10 BTC in 2014. 1.7, 8.3 to go!

Any other newbies taking on this challenge too?

[MA3A]

I understand Dr.Btc and his desire, especially if he did some e-trade trading. Obviously he understands risks and willing to risk, also there are quite a few businesses that accept bit coin / litecoin for their services.
i belive somone on this four has made a dynamic map for those similar to google maps where you can zoom in/out to particular area to find them.
So i think accepting bit coins for services is normal, specially if you are trying to gain some BTC without getting cash involved.

[raithedavion]

I don't think you can get 10 BTC without buying it for USD, well..not within a year, or you get super lucky by solo mining.