I promised him I will return the money to him by the end of 2014 with an extra $100k (10% interest). It took me a lot of convincing but I somehow managed to convince him without telling him exactly what I would do with the money. He thinks it's for a start up. I did not tell him that I'm gonna throw it all into bitcoins because I'm not exactly sure he understands or knows about it too much. If he found out about the price volatility of bitcoins I really doubt he would let me invest. But I am pretty confident that the price will at least rise up above where it is now before it crashes (if it does crash). I really think it would at least go back to where it was (~$1240/btc) at its highest point once more before going down for good. That would at least be a nice ~$200k profit and I feel like it's almost guaranteed.


Which brings me to my questions...

1. Am I being really stupid and optimistic to think this way? How much of a chance/risk do you think it is for the price to not go up any higher in 2014? IMO, it almost seems guaranteed the price will at least hit $1200-$1300/btc sometime next year.... or is there a risk that I'm not aware of?

2. I have a coinbase account and it only lets me buy a max of 50 BTC at a time. Is there a place where I can buy as many as I want w/o any limits?

3. Will I even be able to buy $1mil worth of BTCs? Does it depend on who's selling right at the moment I'm trying to buy some? How does this work?

4. Will I have to pay taxes on capital gains? I don't wanna pay shit to the US gov, how would they know how much I made off BTCs?





I'm thinking of putting an automatic sell order right when BTCs hit $1500 in 2014.... is that too high or should I put a lower limit? I want to guarantee some profit before I get too greedy and potentially lose my dad's money. I figured if I sell at $1500 it would be a nice $400k profit for me, I could quit my job and chill in Miami and Ibiza for a year until I need money again.


Serious advice only please, I'm not fucking trolling