Topic: Borrowed $1,000,000 (1 million dollars) from my dad to invest in BTC (serious) - page 2. (Read 18460 times)
December 07, 2013, 07:48:58 PM
if the price crashes like this, it should be good news for the OP since he can get more bitcoins for his money.. but now he's had a change of heart.
December 07, 2013, 06:35:38 PM
In this thread you stated that you have invested all of your money into Bitcoin. https://bitcointalksearch.org/topic/where-the-hell-is-max-kaiser-and-the-winkelvass-twins-360745
So did you invest this $1,000,000 or are you just making stuff up?
So did you invest this $1,000,000 or are you just making stuff up?
A thread with such title , with a (serious) added , then we have a genuine troll posting , I'm betting my bitcoins on making stuff up.
December 07, 2013, 06:30:30 PM
In this thread you stated that you have invested all of your money into Bitcoin. https://bitcointalksearch.org/topic/where-the-hell-is-max-kaiser-and-the-winkelvass-twins-360745
So did you invest this $1,000,000 or are you just making stuff up?
So did you invest this $1,000,000 or are you just making stuff up?
This is my own money, I bought them after the first day of the senate hearings (it was around $680/btc then)
December 07, 2013, 06:27:13 PM
In this thread you stated that you have invested all of your money into Bitcoin. https://bitcointalksearch.org/topic/where-the-hell-is-max-kaiser-and-the-winkelvass-twins-360745
So did you invest this $1,000,000 or are you just making stuff up?
So did you invest this $1,000,000 or are you just making stuff up?
December 07, 2013, 06:18:59 PM
I don't get a penny from my parents, I live on my own barely making rent. I don't even have a bed in my room, I sleep on a blanket on the floor.. that's how poverty I am right now. I am only borrowing this money.
It sounds like you have a strained relationship with your parents. The fact that they don't support you sufficiently for you to have a bed to sleep on makes it difficult to understand why they would then lend you $1M, no questions asked.
You have no reason to explain this as we're just strangers but you have to appreciate that it leaves us in a position of some scepticism.
That's not true at all. I'm extremely close with my parents. I live on my own in another state because I have a job, I make my own money which is enough for me to live on and pay my bills (my bills are pretty fucking high compared to most people). There's no reason for me to have my parents pay for anything. I'm fucking 25. About me sleeping on the floor... that's by choice, I just haven't gotten around to buying a bed and I don't mind sleeping on the floor. It's really not a big deal but I wanted to give a perspective to people in this thread thinking I'm rich because my parents are and that I'm living some sort of royalty life. That's just not true.
I don't get a penny from my parents, I live on my own barely making rent. I don't even have a bed in my room, I sleep on a blanket on the floor.. that's how poverty I am right now. I am only borrowing this money.
It sounds like you have a strained relationship with your parents. The fact that they don't support you sufficiently for you to have a bed to sleep on makes it difficult to understand why they would then lend you $1M, no questions asked.
You have no reason to explain this as we're just strangers but you have to appreciate that it leaves us in a position of some scepticism.
It's really not that difficult to understand. He's a teenaged lying troll. Because of his youth, he doesn't understand that any person with the business savvy to have accrued a million extra dollars would never loan that kind of money, even to family, without a formal written business/investment plan and a payback contract possibly with interest. People that are that stupid would not have a million to loan.
You do realize this bitch might just be a 25 year old spoiled kid (a money-rich minority by the mouthy teenage attitude) from US who couldn't make it in the real world without his daddy's help and basically sucked off his daddy to get his hand on some seed money. I would not doubt some 'rich' parents also don't know how to raise their kids properly.
This kid shows off all the signs of a gutless rich boi who still thinks like a 14 year old wannabe punk.
"I got balls" LOL this kid.
LOL at at this raging comment... you are clearly upset my boy. I have a full-time job and make my own money... "can't make it in the real world"? I'm pretty sure I'm still better off than you are you stupid ass mother fucker. You are just some fat ass getting mad over the internet. There will always be people/families richer than you, don't cry about it.
I'm willing to bet you are an ugly sad little fuck probably older than me and living with your parents
December 07, 2013, 03:17:15 PM
I went back and read the OP. Here's my take: There's nothing wrong with borrowing money from your parents for a startup. Lots of people do that. But be honest with them about what the startup actually is. If the OP is starting a private investment company that focuses on the cryptocurrency sector, fine. But he needs to tell his father that that's the plan for how the million will be used.
Maybe the OP should consider investing some of that money in startups related to bitcoin, instead of just in bitcoins? Or at least be more diversified. Just a thought.
Maybe the OP should consider investing some of that money in startups related to bitcoin, instead of just in bitcoins? Or at least be more diversified. Just a thought.
December 07, 2013, 02:35:04 PM
Nice son you are.
Your dad probably didn't become a millionare by borrowing 1 million USD from his father under false pretenses and put in something speculative as Bitcoin.
You should be ashamed of yourself by borrowing the money for something you know he would not approve and you know very well you will never be able to pay it back if your investment fails and you lose a substantial amount of the money.
Your dad probably didn't become a millionare by borrowing 1 million USD from his father under false pretenses and put in something speculative as Bitcoin.
You should be ashamed of yourself by borrowing the money for something you know he would not approve and you know very well you will never be able to pay it back if your investment fails and you lose a substantial amount of the money.
December 07, 2013, 02:28:47 PM
I don't get a penny from my parents, I live on my own barely making rent. I don't even have a bed in my room, I sleep on a blanket on the floor.. that's how poverty I am right now. I am only borrowing this money.
It sounds like you have a strained relationship with your parents. The fact that they don't support you sufficiently for you to have a bed to sleep on makes it difficult to understand why they would then lend you $1M, no questions asked.
You have no reason to explain this as we're just strangers but you have to appreciate that it leaves us in a position of some scepticism.
It's really not that difficult to understand. He's a teenaged lying troll. Because of his youth, he doesn't understand that any person with the business savvy to have accrued a million extra dollars would never loan that kind of money, even to family, without a formal written business/investment plan and a payback contract possibly with interest. People that are that stupid would not have a million to loan.
You do realize this bitch might just be a 25 year old spoiled kid (a money-rich minority by the mouthy teenage attitude) from US who couldn't make it in the real world without his daddy's help and basically sucked off his daddy to get his hand on some seed money. I would not doubt some 'rich' parents also don't know how to raise their kids properly.
This kid shows off all the signs of a gutless rich boi who still thinks like a 14 year old wannabe punk.
"I got balls" LOL this kid.
Maybe but I don't think so. The Paris Hilton's of the world don't care about making money by investing. They just spend it as fast as they can (while showing everyone their vagina lips when exiting their Ferrari).
December 07, 2013, 02:24:57 PM
I don't get a penny from my parents, I live on my own barely making rent. I don't even have a bed in my room, I sleep on a blanket on the floor.. that's how poverty I am right now. I am only borrowing this money.
It sounds like you have a strained relationship with your parents. The fact that they don't support you sufficiently for you to have a bed to sleep on makes it difficult to understand why they would then lend you $1M, no questions asked.
You have no reason to explain this as we're just strangers but you have to appreciate that it leaves us in a position of some scepticism.
It's really not that difficult to understand. He's a teenaged lying troll. Because of his youth, he doesn't understand that any person with the business savvy to have accrued a million extra dollars would never loan that kind of money, even to family, without a formal written business/investment plan and a payback contract possibly with interest. People that are that stupid would not have a million to loan.
You do realize this bitch might just be a 25 year old spoiled kid (a money-rich minority by the mouthy teenage attitude) from US who couldn't make it in the real world without his daddy's help and basically sucked off his daddy to get his hand on some seed money. I would not doubt some 'rich' parents also don't know how to raise their kids properly.
This kid shows off all the signs of a gutless rich boi who still thinks like a 14 year old wannabe punk.
"I got balls" LOL this kid.
December 07, 2013, 12:50:01 PM
I don't get a penny from my parents, I live on my own barely making rent. I don't even have a bed in my room, I sleep on a blanket on the floor.. that's how poverty I am right now. I am only borrowing this money.
It sounds like you have a strained relationship with your parents. The fact that they don't support you sufficiently for you to have a bed to sleep on makes it difficult to understand why they would then lend you $1M, no questions asked.
You have no reason to explain this as we're just strangers but you have to appreciate that it leaves us in a position of some scepticism.
It's really not that difficult to understand. He's a teenaged lying troll. Because of his youth, he doesn't understand that any person with the business savvy to have accrued a million extra dollars would never loan that kind of money, even to family, without a formal written business/investment plan and a payback contract possibly with interest. People that are that stupid would not have a million to loan.
December 07, 2013, 12:46:40 PM
I think his dad is Walter White, never would have been a show down in the desert if he'd used btc
Seriously, it would be better to take up shares in the various exchanges. Maybe even buy them outright, currency itself for any denomination is more risky then owning a company with assets and turnover.
Maybe its troll physics post demonstrating why you'd not hold 1m in a non intrinsic value 'asset'
With this price fall, can anyone say which products are now cheaper today then last week
Seriously, it would be better to take up shares in the various exchanges. Maybe even buy them outright, currency itself for any denomination is more risky then owning a company with assets and turnover.
Maybe its troll physics post demonstrating why you'd not hold 1m in a non intrinsic value 'asset'
With this price fall, can anyone say which products are now cheaper today then last week
December 07, 2013, 12:36:52 PM
I don't get a penny from my parents, I live on my own barely making rent. I don't even have a bed in my room, I sleep on a blanket on the floor.. that's how poverty I am right now. I am only borrowing this money.
It sounds like you have a strained relationship with your parents. The fact that they don't support you sufficiently for you to have a bed to sleep on makes it difficult to understand why they would then lend you $1M, no questions asked.
You have no reason to explain this as we're just strangers but you have to appreciate that it leaves us in a position of some scepticism.
December 07, 2013, 12:26:01 PM
Hmm, you need to really think hard about this. If I was in your situation I would put a little into Bitcoin, a little into Litecoin and a little into Peercoin, but that's just me. I also don't think I would slam $1m into these new unstable currencies. Maybe 50-100k if you can afford to loose.
December 07, 2013, 10:49:50 AM
Lend them for me and I give you $1,200,000 end of 2014
December 07, 2013, 10:48:32 AM
To the OP: not sure if mentioned already, but you should probably read the "inheritance of brother and sister" story from few weeks ago.
December 07, 2013, 10:45:53 AM
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
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
This is incredibly stupid. Nobody wants to admit it around here but that's because a lot of people are delusional. There is absolutely the chance that BTC goes down to $0 tomorrow and that is that. That risk will ALWAYS be there, just like it is with every stock, bond, derivative, etc.
Do NOT throw a million dollars at BTC without some sort of gameplan for if/when things go sour.
December 07, 2013, 10:11:15 AM
So troll, do you still want to spend a million of daddy's money on Bitcoin? Wait till this time tomorrow and you may only need $100k to buy the same amount as when you started this thread.
I kind of do actually, but i wanna see if it gets around 500/600 before the end of the year... that would be a good time to get in. I'm pretty sure it'll hit a new milestone in 2014
I have to agree, 500/600 is good price. The only problem is the demand is high and when price falls quickly I feel unconfortable buying.
December 07, 2013, 09:57:05 AM
Good luck mate just hold them forget about the price we are headed to $3K next year or higher i believe 
December 07, 2013, 09:14:59 AM
If this is real, you need to tell your benefactor where the money is really going.
December 07, 2013, 08:48:04 AM
Can't believe all the PM's i'm getting... some crazy scammers around here! lol if you think I would actually be down for any of these offers
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