$700 million lottery jackpot straight to BTC

vasrasus

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Quote from: Searing on January 10, 2016, 08:10:14 AM

Quote from: Betwrong on January 10, 2016, 06:31:43 AM

Quote from: lottery248 on January 10, 2016, 02:41:44 AM

1,3 billion! Shocked

the powerball jackpot next wednesday is $1.300.000.000
let's continue the discussion with this jackpot size.

Looks like this is like true, but nevertheless it's hard to believe. I mean, seriously, 1.3 billion dollars??? Did anyone has ever won hundreds of millions yet? And if yes, how much they really receive? What about taxes? Idk the whole thing looks crazy to me.

And, YES, if the winner decides to buy BTC with that amount of dollars the price might go up 60-80% or even more for some time for sure.

so I could give what make 1,300 folk Millionaires.....(or the entire group of co-eds in my local universities freshman dorms....heh ...now there is a thought )

you'd almost have to give your self an allowance

say take 1/2 and put it away in trust even you can get into ....let it grow money at 7% growth you'd get what you started with in 14 years

take the other 1/2 and take 7% a year on whatever the investments brought into the kitty not gonna dig out the calculator but say after taxes you got

even 600 million

1/2 of that is 300 million at 7% that is $21,000,000 dollars...taxes etc get taken out say you get 12 million dollars a year off that plan of income

hell 1 million dollars a month you could spend ...and if all you did was that......lived on it say...you'd prob double your money in 8 years back to what you started with

sticking to your 'budget' of a 'measly' 1 million dollars a month

damn that is a lot of orphanages

I could make a LOT of charities very very happy

anyway something like that or the money would drive you mad...next thing I'd be helping elon musk build a space ship to mars or something silly

best to have limits

If he can spend $0.5 million a month to buy the bitcoin, it will support the bitcoin price easily. The price will g up very high.

Searing

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Clueless!

Quote from: Betwrong on January 10, 2016, 06:31:43 AM

Quote from: lottery248 on January 10, 2016, 02:41:44 AM

1,3 billion! Shocked

the powerball jackpot next wednesday is $1.300.000.000
let's continue the discussion with this jackpot size.

Looks like this is like true, but nevertheless it's hard to believe. I mean, seriously, 1.3 billion dollars??? Did anyone has ever won hundreds of millions yet? And if yes, how much they really receive? What about taxes? Idk the whole thing looks crazy to me.

And, YES, if the winner decides to buy BTC with that amount of dollars the price might go up 60-80% or even more for some time for sure.

so I could give what make 1,300 folk Millionaires.....(or the entire group of co-eds in my local universities freshman dorms....heh ...now there is a thought )

you'd almost have to give your self an allowance

say take 1/2 and put it away in trust even you can get into ....let it grow money at 7% growth you'd get what you started with in 14 years

take the other 1/2 and take 7% a year on whatever the investments brought into the kitty not gonna dig out the calculator but say after taxes you got

even 600 million

1/2 of that is 300 million at 7% that is $21,000,000 dollars...taxes etc get taken out say you get 12 million dollars a year off that plan of income

hell 1 million dollars a month you could spend ...and if all you did was that......lived on it say...you'd prob double your money in 8 years back to what you started with

sticking to your 'budget' of a 'measly' 1 million dollars a month

damn that is a lot of orphanages

I could make a LOT of charities very very happy

anyway something like that or the money would drive you mad...next thing I'd be helping elon musk build a space ship to mars or something silly

best to have limits

Betwrong

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Quote from: lottery248 on January 10, 2016, 02:41:44 AM

1,3 billion! Shocked

the powerball jackpot next wednesday is $1.300.000.000
let's continue the discussion with this jackpot size.

Looks like this is like true, but nevertheless it's hard to believe. I mean, seriously, 1.3 billion dollars??? Did anyone has ever won hundreds of millions yet? And if yes, how much they really receive? What about taxes? Idk the whole thing looks crazy to me.

And, YES, if the winner decides to buy BTC with that amount of dollars the price might go up 60-80% or even more for some time for sure.

gkv9

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Quote from: Searing on January 10, 2016, 02:45:31 AM

Quote from: lottery248 on January 10, 2016, 02:41:44 AM

1,3 billion! Shocked

the powerball jackpot next wednesday is $1.300.000.000
let's continue the discussion with this jackpot size.

yep you are correct link below stating such (and others)

-- snip --

frigging 'alien abduction odds' have to be better then winning the power-ball imho

Ain't it possible for someone to send their winnings to a different country through Bank O/D where there are least taxes???
Is tax paying mandatory before winner receive any winnings???

Searing

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Quote from: lottery248 on January 10, 2016, 02:41:44 AM

1,3 billion! Shocked

the powerball jackpot next wednesday is $1.300.000.000
let's continue the discussion with this jackpot size.

yep you are correct link below stating such (and others)

http://fox8.com/2016/01/09/ticket-sales-soar-ahead-of-powerball-drawing/

using the lottery calculator below for this amount (again using state option of your choice) my state option included...

http://www.afterlotto.com/lottery_calculator.html

After taxes that is for me $539,019,000.00 (again with my state taxes included in above)

Damn that means $39,019,000.00 dollars to BTC if I win the power ball as my 'bet' to the ASIC gods to let it be so

Also note you also LOSE money .....because of the 'stratospheric' taxes paid I guess on such ..from its blast past this last no win on the lottery amount

your actual take home 'drops' from $ $609,750,000.00 to 539,019,000

or a LOSS of

$70,731,000 dollars!

Damn ....wonder what it would be with 1.5 billion...would you still lose money in taxes then?

Just think if any of the following people won the lottery how 'batsh*t crazy' the world would go

1) Bill Cosby

2) Donald Trump

3) Paris Hilton

4) Sara Palin

5) Jimmy Kimmel (not sure why...just think watching him self-destruct with that kinda $$$ on TV would be cool)

6) Bill Clinton

7) Al Gore

8 ) Josh Wheton *hey I want FIREFLY to come back*

9) Summer Gau *hey I want to watch her FIREFLY or not*

10) er me ie Searing

frigging 'alien abduction odds' have to be better then winning the power-ball imho

lottery248

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beware of your keys.

1,3 billion! Shocked

the powerball jackpot next wednesday is $1.300.000.000
let's continue the discussion with this jackpot size.

Searing

copper member

Activity: 2898

Merit: 1464

Clueless!

True...with 900 million I guess it will be the next go around....according to the below lottery calculator
(this includes my states cut on this as well)

http://www.afterlotto.com/lottery_calculator.html

Ta da! $609,750,000.00 million dollars! (frack you'd have to have a full time security team just from the kidnap and ransom demands from the folk here on bitcointalk!) (no really!)

So just for the heck of it ...say you tossed the $9,750,000.00 dollars into BTC just so you could get to a 'nice' round $600 million dollar trust fund amount

Damn....that sure would shake things up ..that is for sure

Heh. Lottery Ticket Purchases at these payouts just prove the theory of FOMO (Fear Of Missing Out) as a 'true' concept.

They say if 'someone' wins such massive wealth it changes them (you think?) they are either

1) a philanthropist like Andrew Carnegie or Bill Gates Foundation ...(.helping Mankind...building orphanages etc)

or

2) a complete an utter asshole (razing orphanages for apt development....being Charlie Sheen's Wingman on rout thru Asia etc)

They say it is one camp or the other ...no in between...would be nice to have such a 'character test' imho

jjacob

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Quote from: diggidoyo on January 08, 2016, 04:33:19 AM

With the US Powerball jackpot now at $700 million, I'm curious about a scenario where a single winner dumps the entire lump sum into the BTC exchange and locks it up for years.
What would the effect on the market be immediately after and for the next few years? What would happen to the market in the future if they decide to cash out as the richest person who ever lived?

Even if you want to convert your dollars into bitcoins, there are various buying strategies. Overwhelming exchanges is not going to help.
The US government auctions large amounts once in a while, you can bid on that. Grin

gkv9

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If such person ever decides to invest in BTC and go all in, I guess $5k won't be a big deal per BTC as we will see a really big pump from their side, because so many coins will be bought as the amount is so big...

And if he ever decides to dump, we will still be above the current levels at where we are presently...

thejaytiesto

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It wouldn't collapse, it would just mean that whoever won the jackpot and spent that much on Bitcoin, would become a big investor/holder of the currency, that's all, there's no doom scenario, it's actually good for us. It's not like we would be running out of Bitcoins or something, that's never a problem thanks to how divisible it is.

So if any big whale is reading this, by all means go and buy 700 mm dollars out of BTC right now.

Betwrong

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Quote from: steveds on January 08, 2016, 08:24:05 AM

Quote from: Betwrong on January 08, 2016, 06:43:59 AM

Back to OP's question: since there are around 6 billion dollar's worth of Bitcoin in the world now the dumping of $700 million into the BTC exchange would definitely impact the price but not much, maybe 20-25% which is a normal thing for Bitcoin even when there are no apparent reasons for that. )

Hell no it doesn't works that way ,the 6 billion dollar market is for all the bitcoins at present and not for the selling orders.If someone actually dumps that much mount of coins the price would be round 30% of what it is today.Satoshi did the same thing and we have seen the effects.

As I said, "20-25%", it is almost 30% right? And considering the fact that the price of Bitcoin sometimes goes up and down 30% or even more without any reasons that would be no big deal.

Kprawn

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I would diversify and buy only about $10 000 000 worth of Bitcoin for now... use that to speculate a bit and increase it's value. The return of my other investments could also

be invested back into bitcoins. You cannot invest everything into bitcoin and expect to pay for every service or goods on offer at the moment. You must put some of it to the

side for your pension years and enjoy life with it now, while you still have your health. $800 million already enable you, to accomplish most of your dreams.. why tie it all down

on a single investment into a speculative and high risk technology. Roll Eyes

ask

legendary

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I would put everything into bitcoin. Converting 500k into bitcoin. Day by day.

OROBTC

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...

Ahh, keep in mind, everyone, that if you want the CA$H all at once (vs. the 29 years of payouts), that the amount falls to $496 million (or so -- only if one winner). I do not know if that $496 MM includes a provision for paying the Income Tax (and yes, lottery winners are taxed), so the NET jackpot might be as low as some $300 million.

That is still a nice amount of money, but so many people are buying now (America's largest lottery in history), that odds are that you would have to share the jackpot.

* * *

With large enough winnings, I might buy some $20 million BTC, that's all. I would also buy slowly.

And, of course, the winner's first call should be to their LAWYER.

Anegg

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The price would go up a lot as the demands for bitcoin would sky-rocket.

trollercoaster

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you'd have to be retarded.

DrLove2048

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Wayyyy to risky. Maybe drop a million or two into it over time but all of it. I mean if you hit it big yeah id be nice but you'd have so much of a share you'd ruin the market.

Same principle why bill gates can't just sell every single one of his stocks right now to cash out

neochiny

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I dont think that there's someone will do that.
As Its just insane to put it ALL to bitcoins.
If i won a jackpot like that, I will just put the 1/4 or 1/8
of it into bitcoin and the rest to invest to buy houses,
or other business that also concerns bitcoin.
If someone really do that in the future, bitcoin price will pump high.
And everyone will be affected to it. I just dont know if it will stay that long.

lottery248

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beware of your keys.

it suddenly gone to estimated 8 hundred million dollars? Huh

i guess people is panic on buying the tickets to hope that they would win the jackpot.
still not recommended to redeem in bitcoin; it would only pump the bitcoin price but not for a long time.

Moneyburner

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The market size is just not big enough to do this in a feasible manner. You would have to buy in pieces over many many days

Topic: $700 million lottery jackpot straight to BTC (Read 2401 times)