I have 1600 bTC. I dont know what to do with them. Should I take them out or should I keep them? I had the coins since 2012, I had over 5,000+ but all I can remember is this account. The best advice will get some of my coins. Please let me know what you guys think. I was thinking the following:
1 - take the coins out via MTgox or bitstamp as I have registered with them and pay the 5,000 commissions to cash my coins out
2 - set up my own site via a PHP developer and cash out
3 - use the coins I have to buy and sell, i.e. buy high and sell low in the market (could have made $300,000 today)
4 - buy items with the goods and sell them in real life
5 - make my own site like localbitcions and pose either as seller or just use localbitons services
6 - start my own bit coin gabling/betting site
7 make my own bitcoin currency
8 spend my money on LTC and namecoins
I have a few more ideas but I think these were the best. I live in UK and I think there a tax law comes in to place in January. But the coins usually go even higher then you can think when there is a crash. But if the tax law comes it mean for sure BTC will not be anonymous and therefore lose one it highest traitors, maybe namecoin will be market leader one day?
Please justify what you say and I know you guys are smart are there so, tell me what you would do if you was me. If we go with option three I will pay up to 20 people to give me advise when to buy and sell and give them all a very small cut of the profit. I am also stable I dont need house or anything. This is change I have that I want to use to change my family life before I die.
Hello richforeveroneday,
My advice to you is:
1. Sell 37.5% of Bitcoins, around 600 BTC. This will bring you around $400 000 - $540 000. Sell them to a series of 100 BTC in different market: MTgox, Bitstamp, Bitcoin.de, Kraken etc. (Bitcoin.de will pay you very quickly)
2. Half of the money, i.e. $200 000 invest in your education! This is an expense that will bring you income and security in the future, trust me.
3. With the rest of the money, i.e. $250 000 - $300 000, open your own Exchange! Money will get you to hire professionals to do your Exchange similar BTC-E, keep it at all costs and for at least 1 year of work by this Exchange. On it you can trade in addition to basic BTC, LTC and some of the alternative coins.
If crypto coins rise - you win 0.2% of turnover.
If crypto coins fall - you still earn 0.2% of turnover
In the last 24 hours, BTC-E have a turnover of over $160 millions! At 0.2% commission they have earned $320 000 for 24 hours, not care if the rate rises or falls! 4. If you do what I suggest, You'll stay with BTC 1000. Convert 25% thereof, ie 250 BTC into LTC.
5. The most important: Enjoy your life. You are young and life is ahead of you.
Whatever you choose, I wish you luck!
If you like the suggestions can you make me a small donation, it would be a great help for me (I do not want to beg, so I will not bother the audience with my life problems) .
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