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Author Topic: Advice: 1 BTC  (Read 529 times)
D-law (OP)
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October 13, 2021, 12:30:30 PM
 #1

This might be more personal as well confidential to we all, but if you're to share your thoughts or advice one on how to spend he's/her 1btc what would that be ?
Estate management ?
More in Bitcoin ?
Investment in the Stock market ?
Maybe your ideas might or will be helpful.

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October 13, 2021, 12:37:01 PM
Merited by pooya87 (2)
 #2

You can do whatever you like with your bitcoin, I do not think anyone need to advice you what you should do with your money, you can hold it, spend it, use it to buy stock or anything that can increase on value if you like, but never convert your coin to fiat and hold it in bank, that is the most foolish thing someone can do because fiat do depreciate.

But this will be my advice if you want advice, if you are not using the bitcoin, then hold it and buy more, it will worth more value if compared to fiat in the future.

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October 13, 2021, 12:45:21 PM
 #3

~
It is your Bitcoin. If you need more advice from what you can do with that 1 BTC, just hold it and leave it, considering that as of writing this, BTC is now priced at 55k. Do not bother with most of the altcoins if you are thinking of selling it, imo.
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October 13, 2021, 12:52:26 PM
 #4

What everyone should be telling you is to consult a financial advisor. First off, great, you’ve got one bitcoin, but, what else do you have ? Meaning, what does your overall portfolio look like? Is it well diversified, are you on track for retirement, etc.  Once that is answered, then you’ll have a better idea what to do with that one bitcoin.

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October 13, 2021, 12:58:00 PM
 #5

It's really not advisable to seek financial advises here, as we are not professionals.

And we don't know where you living, some members here might be in a developing country and obviously that is a huge amount for them and can buy real state and could be set for life.

But if you are living in a country wherein the standard of living is very high, $55k is not that huge amount.

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October 13, 2021, 01:00:06 PM
 #6

What exactly is the question? What my advice is to someone who owns 1 BTC? Is that it? I am confused because there is another option to have more Bitcoin.

If I have 1 BTC myself, I wouldn't be converting it to fiat in order to invest in another opportunity. Bitcoin is better than estate management, stock market, etc, so I would choose to have it as 1 BTC. The future of Bitcoin is bullish. Even in the short term, I mean within the year alone, the target for Bitcoin is to reach $100,000. That's more than double in just a quarter. Can any other investment opportunity provide that possibility?
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October 13, 2021, 01:10:00 PM
 #7

Let it sit as Bitcoin maybe? Honestly, if you had the money to invest 1 Bitcoin, I'd believe you'd also have enough money to invest in a bunch of other stuff without affecting your life. If not, and you can't afford to invest more, then I'd suggest spreading it, make your portfolio bigger, but don't lose out on your investment in Bitcoin itself. Maybe leave half? Then invest the rest in altcoins, stocks, land, etc, whatever you want really, up to you. Make money using money and you'd honestly be fine.

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October 13, 2021, 01:10:31 PM
Merited by pooya87 (2), BlackHatCoiner (1)
 #8

The problem with asking questions like this is that, sooner or later, someone unscrupulous is going to tell you about a "fantastic investment opportunity" which is actually just a scam.  When you advertise to the world that you have wealth, a conman will probably attempt to part you from it.  You really have to be extra careful when soliciting advice from strangers on the internet.  Speak to a professional.  It's far safer.

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October 13, 2021, 01:13:48 PM
 #9

Well for me if I have that amount of BTC and living in the country with a cheap electricity rate then I will start a small mining farm.
Because I believe that I could make more profit on mining than holding it and the ROI depends on how cheap your Electricity rate in your area and depends on what miner you bought.

This is not recommended for non-believer but for me, this is what I think that I'd like to do with 1 BTC.

Another option is trading but if you don't have knowledge about trading then it's very risky because you can lose a lot if you don't know how trading works and how the market works.
So the best for me is to start a small mining farm.

Be careful on cloud mining this is not what I'm talking about they are most likely scam.

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October 13, 2021, 01:21:04 PM
 #10

Well for me if I have that amount of BTC and living in the country with a cheap electricity rate then I will start a small mining farm.
Because I believe that I could make more profit on mining than holding it and the ROI depends on how cheap your Electricity rate in your area and depends on what miner you bought.

This is not recommended for non-believer but for me, this is what I think that I'd like to do with 1 BTC.

Another option is trading but if you don't have knowledge about trading then it's very risky because you can lose a lot if you don't know how trading works and how the market works.
So the best for me is to start a small mining farm.

But let's also be clear that it's possible to lose money attempting to do this.  Investing in hardware is a calculated gamble.  Return on investment is by no means guaranteed.  Mining is effectively a fiercely competitive arms race.  Not for the feint of heart.

Make absolutely sure you know exactly what you are doing before you enter down this path.

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October 13, 2021, 01:24:36 PM
 #11

Anyone giving you financial advice would be morally responsible for potential losses that you might incur, so please do not ask other users about how you should spend your bitcoin. Anyway, most people would be more interested in how to obtain 1 btc, rather than how to spend it. Because, you know, if you live outside the US in some third-world country, such a big amount of money could be life changing. Moreover, given that the total supply of bitcoin is fixed and more and more people begin to consider bitcoin a good means to hedge against the disadvantages of the traditional monetary system we have today, it is becoming evident that the price of bitcoin will go up while the amount of bitcoin you need to change your life will go down. As for me, I woudn't spend something that will surely be more valuable in the future.

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DarkDays
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October 13, 2021, 01:35:51 PM
 #12

This might be more personal as well confidential to we all, but if you're to share your thoughts or advice one on how to spend he's/her 1btc what would that be ?
Estate management ?
Yes, this could be a nice way to implement something that can be store of value as well as capital appreciation outside of the crypto volatility markets.

Quote
More in Bitcoin ?
Why not? If you really are a maximalist and believe that BTC can only go higher from here then don't sell any BTC and accumulate instead. Many people are doing exactly that but you should DYOR before committing to anything.

Quote
Investment in the Stock market ?

To be honest, why would somebody want to go with the traditional stocks and shares markets? Even they aren't that stable or guaranteed, still poses a risk. So in my opinion if you're going to take a risk make it worth while.
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October 13, 2021, 01:42:58 PM
 #13

That is a very broad question leaving space to multiple answers.However the best answer which I can give is the one what I would myself do with 1 Bitcoin right now at an average cost of 55.000 US dollars.Here where I live you can buy a house with such money and we all know that real estate only increases in value over time so it could be a good long term investment.

You can opt to put in the bank to receive interest but it is ridiculous the amount any bank offers so this is a no go option.You can buy a good car for yourself at 20.000 dollars and another 20.000 you build a few mining rigs while keeping the remaining 15.000 to spend as you like.

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October 13, 2021, 01:47:51 PM
 #14

op is looking for new investment i guess since he mentioned stocks and real estate. this reallt depend on what op's interest.  stocks is dwindling as well so you cant go there too. 1btc is not enough for real estate as well. property prices are sky high today.

if its me i just trade btcusdt to make profit or just keep holding it.









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October 13, 2021, 02:39:00 PM
 #15

For me, I will ask myself what the reason for having the Bitcoin, but if is just earned somehow, I will divide it into two, invest one half back to bitcoin for the other half I will invest into my Catering business as well as my orphanage home.

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October 13, 2021, 03:10:53 PM
 #16

Better to go into business you are talented/skilled in and passionate about. Atleast that will help you with patience to see it succeed.
You should learn first or learn through experience by starting small with part of the Bitcoin to avoid taking big risk or gambling. Once you start becoming consistently profitable in the business, you can gradually scale it up with more Bitcoin. Don't spend the whole money on the business at once unless you are very certain you can grow it and  won't lose it.


Use the business to benefit others. I think you could create safe products or services that can be very useful to people. They should be so useful and hard to resist. They should be affordable too. People of any economic class should be able to afford it.

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October 13, 2021, 03:43:17 PM
 #17

If I were to invest 1 BTC then I would rather choose to diversify the amount into various investments. I already have a list of investments though.

Cryptocurrency - why not buy some altcoins or hold some of your BTC for the future
Stocks - handpick some stocks and invest in it for long term
Gold - always a safe and good investment
Real Estate - I have  a craze for it
Startup - Always wanted to invest in startups and own business that could yield me passive income


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noorman0
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October 13, 2021, 03:45:32 PM
 #18

If that's you, you have options that it's hard to be sure it will fit while we don't know your background, abilities, environment. What if I would summarize into 2 options:
- Meet your financial advisor, they will suggest a proportional business
- Hold your bitcoins instead of investing in other things  (my advice as BTC enthusiast)

-snip-
More in Bitcoin ?
You want to spend 1 bitcoin to get more bitcoins?  Huh
Tell me an example of this business (other than trading)

This space for rent.
Available in mid January 2024 - PM me
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October 13, 2021, 03:56:30 PM
 #19

If that's you, you have options that it's hard to be sure it will fit while we don't know your background, abilities, environment. What if I would summarize into 2 options:
- Meet your financial advisor, they will suggest a proportional business
- Hold your bitcoins instead of investing in other things  (my advice as BTC enthusiast)

-snip-
More in Bitcoin ?
You want to spend 1 bitcoin to get more bitcoins?  Huh
Tell me an example of this business (other than trading)
Maybe he wrote about mining.
In a growing market, this will be a dubious investment, but in a falling market that can last 1 year or more, it can be a good investment.
Of course, you need to have access to cheap electricity and have a little experience.
Or invest in some DeFi project to lose coins Smiley

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October 13, 2021, 04:12:34 PM
 #20

This might be more personal as well confidential to we all, but if you're to share your thoughts or advice one on how to spend he's/her 1btc what would that be ?
Estate management ?
More in Bitcoin ?
Investment in the Stock market ?
Maybe your ideas might or will be helpful.

I think if you have 1btc you already have a plan on how to spend or to invest it. No need to listen to others advice because sometimes it doesn't have a good result if you did it against your will. You are already an investor so, investing is your first move but if you are materialistic I think you will spend your one 1btc on buying things that you want. Everything and every decision is depends on you who owned that bitcoin. If I have such amount of bitcoin, i will divided it into savings, investment either in bitcoin or real state then the small portion is for spending.

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