Bitcoin millionaires, tell us your story! - page 5.

EvilPanda

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Activity: 658

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Small Red and Bad

Quote from: Hawker on November 25, 2013, 09:52:52 AM

Quote from: ?? on ??

Why do people dream of retiring and being "set for life" anyway. Its a pretty boring way to live.

Because having to work for a living doesn't make life less boring and if your job is boring it compounds the issue.

Maybe magicmexican would feel bored being able to lie on a beach of some carribean island thinking whether he should go swimming or pour himself another drink - I certainly wouldn't Wink

zeroday

donator

Activity: 784

Merit: 1000

Quote from: ?? on ??

Why do people dream of retiring and being "set for life" anyway. Its a pretty boring way to live.

They will just start working on their own dream instead of wasting 8 hours of their daily life to enrich a stupid fat boss.

tntdgcr

full member

Activity: 219

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Bitcoin Mining Hosting

Quote from: beetcoin on November 25, 2013, 03:01:05 AM

yeah you could hold them for a year and pay only 15%.

or constantly be trading , and never hold anything over couple "days" Wink

-- oh wait, that's wallstreets game

Rob768

full member

Activity: 324

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My goal is to be set in for life if for some reason I decided not to work any longer. It's nice to have the option. Much less worry!

CoinHoarder

legendary

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In Cryptocoins I Trust

Quote from: btcprice on November 24, 2013, 11:32:09 PM

Quote from: CoinHoarder on November 24, 2013, 11:07:28 PM

Quote from: btcprice on November 24, 2013, 10:30:29 PM

Quote from: faizaa123 on November 24, 2013, 10:23:30 PM

pretty sure all the millionaires are sitting on yachts not worrying about bitcoinforum heresay.

Tongue

Well it's just been a little over a month when the price was at $135. If someone had 1250 bitcoins their net worth would be just over $150,000. Not hardly enough to retire on.

If I had a million dollars in wealth from bitcoin alone I would still want to discuss with people whether they thought the price would go down drastically so I would frequent this forum even now.

Ummm. You might want to check your math. 1250 BTC is worth much more than $150,000

In the previous sentence I was referring to "it's just been a little over a month when the price was at $135". At that time it was worth just a bit more than $150,000.

OH, my apologies. I didn't notice the date of your post.

Hawker

legendary

Activity: 1218

Merit: 1001

Quote from: ?? on ??

Why do people dream of retiring and being "set for life" anyway. Its a pretty boring way to live.

Because having to work for a living doesn't make life less boring and if your job is boring it compounds the issue.

fran2k

hero member

Activity: 784

Merit: 500

Quote from: ?? on ??

Quote from: Rob768 on November 24, 2013, 10:52:07 PM

A million bucks isn't enough to retire on.

shut up lol

Jajajaj, just move out to South America and will be enough Wink

Hawker

legendary

Activity: 1218

Merit: 1001

I mined them in 2011 and got them from my shops.

I also tried day trading and had my ass handed to me in June or so. I lost a few hundred Bitcoin then in the various bear traps. I learnt a lot of respect for the people that can make day-trading work. Even if its all down to luck, they have a lot of guts to do it.

I sold 500 BTC for $119.99 and I used the fiat to buy a nice car: http://www.lexus.co.uk/car-models/rx/rx-450h/ In real terms, it cost me less than $2000. I don't want a yacht - the car is plenty reward for a fun investment in something I believe in.

I still have about 1900 BTC.

I believe Bitcoin is still ludicrously under-priced. Myself and a friend bought a KNC miner on ebay.de on Thursday and are looking to buy more. I won't sell again until the price gets over £1000 which is $1600 and then I will sell exactly 1000.

BitTrade

full member

Activity: 173

Merit: 100

Quote from: tvbcof on November 25, 2013, 01:37:31 AM

Quote from: BitTrade on November 25, 2013, 01:22:26 AM

Nobody is going to post here. Because IRS.

Anyway, the Bush tax cuts have offered the opportunity for (American) people who are careful to not actually make money the old fashioned way to pay very minimal taxes.

Ha! Sarcasm.... Right?

dadach

sr. member

Activity: 365

Merit: 250

Quote from: gweedo on November 25, 2013, 01:37:09 AM

Quote from: Rob768 on November 24, 2013, 10:52:07 PM

A million bucks isn't enough to retire on. Heck, I'm 32 and worth close to $3 million (Not from BTC), yet I still work my butt off everyday, albeit for myself. If I was 70 maybe then I would consider retiring, but a lot can happen in the next 40 years. Need to keep working to make sure I have the life I want, and for my sanity's sake as well lol.

You sir are a true entrepreneur. When I was in college, I was like when my bitcoin are worth millions, I am retiring. Now I can retire, and I am working even harder because work is fun for me now and money is no object. It is extremely crazy how that works.

yeah, but bitcoin wealth probably made you get the job you want...crazy indeed

beetcoin

sr. member

Activity: 434

Merit: 250

yeah you could hold them for a year and pay only 15%.

dominicwin

member

Activity: 84

Merit: 10

Quote from: bitbob82 on November 25, 2013, 01:31:16 AM

well,if i have the 1250 bitcoin I would sell them all

pay the 40% tax or whatever, and keep the rest to enjoy life

Well if you decided to pay that much tax haha, you wouldn't be enjoying life for too long depending on how old you are now lol.

501

newbie

Activity: 28

Merit: 0

Quote from: baggage on November 24, 2013, 11:05:04 PM

Lets say I had a couple million in bitcoin (I wish) and wanted to cash out (I wouldn't yet.)

How would I do it? What it the best method? I keep hearing it's difficult and that there is a long wait time to
get your cash. I know nothing about this but interested in being enlightened.

You could sell them to Coinbase and get your money in a few days. But you would drop the price drastically if you put out such a huge sell order.

Better option would be to use a bot to put up small sell orders every 30 minutes or so (I'm not aware of any Coinbase bots so you might have to use BTC-e or maybe Bitstamp).

Personally I think it would be silly to "cash out" right now, because based on all of the news around bitcoin it seems like we're about to start a very strong uptrend. I would probably exchange 20% for USD just as a safety net, and keep the rest as BTC.

gweedo

legendary

Activity: 1498

Merit: 1000

Quote from: Rob768 on November 24, 2013, 10:52:07 PM

A million bucks isn't enough to retire on. Heck, I'm 32 and worth close to $3 million (Not from BTC), yet I still work my butt off everyday, albeit for myself. If I was 70 maybe then I would consider retiring, but a lot can happen in the next 40 years. Need to keep working to make sure I have the life I want, and for my sanity's sake as well lol.

You sir are a true entrepreneur. When I was in college, I was like when my bitcoin are worth millions, I am retiring. Now I can retire, and I am working even harder because work is fun for me now and money is no object. It is extremely crazy how that works.

tvbcof

legendary

Activity: 4760

Merit: 1283

Quote from: BitTrade on November 25, 2013, 01:22:26 AM

Nobody is going to post here. Because IRS.

It would be monumentally stupid to end up in legal trouble and broke when one could just suck it up and pay the taxes.

Anyway, the Bush tax cuts have offered the opportunity for (American) people who are careful to not actually make money the old fashioned way to pay very minimal taxes. This is supposed to be for trust-fund brats who don't lower themselves to have a job, but it looks like a clever bitcoiner might be able to slip through the same crack in the door. As always, consult a qualified tax professional, etc, etc.

bitbob82

hero member

Activity: 630

Merit: 500

well,if i have the 1250 bitcoin I would sell them all

pay the 40% tax or whatever, and keep the rest to enjoy life

BitTrade

full member

Activity: 173

Merit: 100

Nobody is going to post here. Because IRS.

btcprice

sr. member

Activity: 434

Merit: 250

Quote from: CoinHoarder on November 24, 2013, 11:07:28 PM

Quote from: btcprice on November 24, 2013, 10:30:29 PM

Quote from: faizaa123 on November 24, 2013, 10:23:30 PM

pretty sure all the millionaires are sitting on yachts not worrying about bitcoinforum heresay.

Tongue

Well it's just been a little over a month when the price was at $135. If someone had 1250 bitcoins their net worth would be just over $150,000. Not hardly enough to retire on.

If I had a million dollars in wealth from bitcoin alone I would still want to discuss with people whether they thought the price would go down drastically so I would frequent this forum even now.

Ummm. You might want to check your math. 1250 BTC is worth much more than $150,000

In the previous sentence I was referring to "it's just been a little over a month when the price was at $135". At that time it was worth just a bit more than $150,000.

EvilPanda

hero member

Activity: 658

Merit: 500

Small Red and Bad

Quote from: Rob768 on November 24, 2013, 10:52:07 PM

A million bucks isn't enough to retire on. Heck, I'm 32 and worth close to $3 million (Not from BTC), yet I still work my butt off everyday, albeit for myself. If I was 70 maybe then I would consider retiring, but a lot can happen in the next 40 years. Need to keep working to make sure I have the life I want, and for my sanity's sake as well lol.

It is - depends where you live and what standards you're used to. Where I come from you are among the lucky ones if you have $100k saved up. If you started bragging you have $3 mil you'd need some armed guards 24/7.

Dafar

legendary

Activity: 1330

Merit: 1000

dafar consulting

I own 10 bitcoins and oh boy let me tell you... it feels great to be a millionaire at age 25

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