What Bitcoin related business would you start with $1M USD or ~ 1640 BTC?

[ashiqdey]

I think I need to think for a week about right implementation of bitcoin. well i had plan of money making with some extraordinary thinking like, i will open a huge enterprise and every one will chime in my office to get paid for work like typing, graphics editing and i will charge a fees for registration so from there i could earn money.

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[1714283461]

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[bitcapitalist]

More ideas are welcome 

Does it have any bountie or whatever? Because I don't think people will come here and show to you the best ideas for nothing, if you know what I mean...

Not really No bounty but if I do use the idea I will get in touch with the creator.

[darklus123]

I've already stated this one on my other post from marketplace basically i would try to lessen more the fees of bitcoin transaction and if ever that i could make to 0% fee then it would be much better and also the instant payment from blockchain

[BitcoinHodler]

it doesn't really have to be related to bitcoin! you can run any kind of business with 1 mil dollar and then only accept bitcoin payment as an option.

but i think anything local can also be profitable like and exchange service or even a bitcoin ATM.

[ipanks]

Hello,

If you had $1M in US Currency what business where you can get paid in Bitcoin would you start?

How would you invest the money in that new business you want to start?

Would you be able to make a living and draw a salary from this business?

It can be anything that doesn't break the law, including casinos or bitcoin gambling games.

What would you do?

Looking forward to some great ideas

P.S: Business should be able to operate from anywhere in the world with a small team. Also it's important that you are able to get some money out of this business each year to pay you good salary of around 150k - 200k per year before taxes.

1. maybe i will become seller and buyer on localbitcoins.

2. i will buy some altcoin in market exchanger and i will trading to make my bitcoin grow.

3. i am sure i can make a living and draw a salary from this business, because for now i can withdraw it into fiat.

4. i think i will not start business in gambling related because i am not sure if there is against with law in my country so i will play with save and i do not want to start business in any illegal activities.

[mastica]

With such ammount i would become a whale, soo i will for sure use those power to make or a new crypto coin or invest into the current one wich has a lot potencial, there are around 10 altcoins being traded with those volume daily, soo i would join those coins. As i could build a developer team for focus into a new crypto coin and offer something real to this coin like a beer, who knows make a namecheap similiar company working with just those coin. Or in the end try to build another poloniex similiar exchange, as i do believe they get something like 3-10btc daily as profit.

[wikenpp]

My first thought was an exchange but then I thought about the amount that you have to invest in security, so that falls out. But an investment in a new kind of bitcoin related service would surely be profitable. Maybe an casino or a network of faucets. The more traffic you have on the network, the more you are likely to earn.

[avikz]

If I ever have that much bitcoin in my kitty, I will simply not start any business. Truly speaking. I would like to convert a major portion of that bitcoin to my local currency and invest that amount in to some regulated investments like government bongs, securities or mutual fund.

Only a small portion of that amount of bitcoin I will keep as an experimental fund. So if bitcoin price goes up, I can get the fruits. No business for me, only investments. 

[Hellacopter]

That's huge amount. With over $1M of Bitcoins we can making more than project indeed. I think creating trading platforms and also big marketplaces which support Bitcoin could be the best ideas.

[nejibens]

I think this amount could help to start a very big marketplace like ebay and Amazon, but supporting only Bitcoin as payment method. That's will help a lot the Bitcoin's community, and could be really profitable.

[freedombit]

I would launch one of these four to five business models to help push crypto-currency technology forward. I've seen some indications of a few of these business models being attempted, I've not seen a true player break out with a solid strategy yet. If anyone has heard of any of these, please let me know as I'd like to help where I can. If not, I will entertain leading such an effort. 

International Trade: I've spent the last 4 years trading a single food commodity internationally, and each container is roughly worth $250k. Thousands of these containers are crossing international waters, and there is more than one food commodity. And that's food. Obviously mining, timer, electronics, etc... are all sent to and fro using containers. There is a tremendous amount of paperwork, banking, trust, and often regulation behind trade that makes it ripe for disruption. I saw one company going after this concept a while back, but their approach did not strike me as the right one. The same concept could also be applied to consumer delivery services (UPS/FedEx/DHL/EMS) once the blocks can handle the transaction volume.

Domain Trading: The market for domain names continues to grow and their are a lot of speculators world wide. Developing a system that would replace Escrow.com and the other major escrow companies seems a natural fit, as it would not only remove the human judgement and international politics elements, but also will likely find efficiency that is not had now. More importantly, a market for LANDLORDS and RENTORS could be developed by putting domains in "permanent escrow" that guarantees the RENTOR future control of the domain as long as they continue to make payments, and the LANDLORD future control of the domain should payments fail to be made. This is especially helpful when considering all of the domains out there worth less than $100k. The cost of potential litigation just doesn't allow one to easily and safely lease a domain. A whole new industry could be developed.

Mortgage Market: Today, most homes are purchased with a mortgage from the bank. Banks are happy to loan money when they are earning hefty interest up front. Most people move in 5 years, a new mortgage is arranged, and the interest starts over again. Back when the US housing market dropped underwater and hundreds of thousands of families were stuck in a home where their mortgage was worth more than their house, I developed a concept where mortgages could be "forwarded" to a new home. So if one were to upgrade, their negative equity position would increase. If they downgraded, their negative equity would decrease. Ultimately, the idea was to enable people to move and continue making payments on their mortgage, but detach the mortgage from a specific home. Homes have value, mortgages have value. They do not to be attached to each another as long as the market is free to determine value. Unfortunately, all of the companies that offered mortgages were quickly consolidated and the already lofty idea had no shot at success without a huge amount of political clout. Bitcoin changes this.

Advertising/Marketing: As micropayments become possible, using Bitcoin or another crypto-currency will be very useful in connecting brands with their customers. This can be accomplished many ways, and not only will it be good for the brands to connect with their consumers, as an industry we start to teach the masses about crypto-currency. I have a few contacts throughout the ad agency industry and would enjoy educating them on ways to make Bitcoin work for there clients. This idea is probably best left for a time when the Blockchain can handle the volume.

As mentioned, I've seen discussion about these ideas, or concepts skirting these ideas, but none from what I can tell approach the market like I would.

[BitcoinMarshal]

If I have amount like this then I will try to work on exchange like bitterx because its one of best investment right now you can deal in altcoins from any where in world without facing any regulations in fiat you have many problems in many countries so better stick with bitcoins and altcoins give you good salary and ROI

[sabbirshm]

1M$ is too much And I can open many services with it.I would like to buy a forum like this where many people will earn bitcoin.Then I will open a casino sites, gambling site.I will also open a online shop in my country where people will be able to pay with btc.And many more which I didn't thought.

[Wind_FURY]

If I had $1M I would set up a sportsbook/casino/poker site. I know there are already some sites available but I believe that the potential of a Bitcoin poker site has not been truly acheived yet. Just like how the porn industry has made the VCR adopted by the masses in a large scale, it is also possible that gambling will make Bitcoin be adopted in a massive scale too. The gambling sites of today have the hassle to go through regulators and payment processors to serve their customers. Bitcoin will allow them to get past that and serve their customers directly.

Maybe we can even raise the bar by setting up P2P gambling. How will the regulators go after everyone? It will be like bittorrent for gambling.

[NetFreak199]

I think I need to think for a week about right implementation of bitcoin. well i had plan of money making with some extraordinary thinking like, i will open a huge enterprise and every one will chime in my office to get paid for work like typing, graphics editing and i will charge a fees for registration so from there i could earn money.

Thats a cool idea and something worth it to try! You can earn decent profits from it and also you can help people through it Graphic designers! and many more! but one thing how is your capital? do you have huge capital from it? something you need really big capital from it.

[rinhunter]

Hello,

If you had $1M in US Currency what business where you can get paid in Bitcoin would you start?

How would you invest the money in that new business you want to start?

Would you be able to make a living and draw a salary from this business?

It can be anything that doesn't break the law, including casinos or bitcoin gambling games.

What would you do?

Looking forward to some great ideas

P.S: Business should be able to operate from anywhere in the world with a small team. Also it's important that you are able to get some money out of this business each year to pay you good salary of around 150k - 200k per year before taxes.

Many businesses that can be done with that money.
for me, I will set up a cafe that accepts payments through bitcoin, and also build the bitcoin mining farm, because my dream is have own mining farm and I think this could be a long-term business.

[HeroCat]

Make Web advertising bot software and also good webpage for it. Nowadays more and more companies/people making webpages, which need advertising or existing webpages also need good advertising. 

[qiwoman2]

I would invest in a variety of good businesses that would help that million become at least 20 million then I would create my first sustainable village with a cooperative that would help house and feed at least 100 people and we would all own the business and land together to generate more funds to create more villages like this.

[bitcapitalist]

Thanks for the ideas. Nice to read your thoughts