Borrowed $1,000,000 (1 million dollars) from my dad to invest in BTC (serious) - page 4.

wachtwoord

legendary

Activity: 2324

Merit: 1125

Quote from: Impaler on December 06, 2013, 05:15:10 PM

People should realize that in order to sustain this $1k valuation of BTC, you would need 3 to 4 Fools like the OP EVERY SINGLE DAY to buy up the newly mined coins. But their are NOT that many fools in the world, once miners see their profitability squeezed out by rising difficulty they will HAVE TO SELL COINS DAILY to cover their costs and see a return on their mining equipment. The market can not remotely absorb that kind of selling pressure, the Entire USD depth on Gox would be consumed in 1 week.

I'm pretty sure you're the fool here.

Fuyuki_Wataru

member

Activity: 167

Merit: 10

Manage it.

You can invest small amounts into Litecoin.
Wait for litecoin to hit MtGox, and watch it's price skyrocket. Be there... Be for it's too late ;-)

Quote from: r00tbg on December 05, 2013, 08:04:11 PM

NEVER, NEVER, NEVER trust a proposal for help, assistance or anything of any user of the forum, which has less than 600 comments and who is registered after 01.06.2012!

Shit, I registered on 02.06!

Word of the wise.. don't trust anyone, not even the mods ;-)

Impaler

sr. member

Activity: 826

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

People should realize that in order to sustain this $1k valuation of BTC, you would need 3 to 4 Fools like the OP EVERY SINGLE DAY to buy up the newly mined coins. But their are NOT that many fools in the world, once miners see their profitability squeezed out by rising difficulty they will HAVE TO SELL COINS DAILY to cover their costs and see a return on their mining equipment. The market can not remotely absorb that kind of selling pressure, the Entire USD depth on Gox would be consumed in 1 week.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

As above. Start the best exchange out there. The skills must be on this forum. Bitcoin goes up - you make a ton of money. Bitcoin panic sells - you make even more.

You're suddenly totally immune to anything the market does and you create a massive cash cow.

Once your year is up you have your fortune. Either sell it for megamillions or keep it yourself and accumulate megabillions.

sgbett

legendary

Activity: 2576

Merit: 1087

Quote from: zeroday on December 06, 2013, 01:53:10 PM

If I had fiat on my exchange account, I'd spent half of it putting bids from $850 to $500 with step of $20.

hope you did this, or similar!

Ibian

legendary

Activity: 2268

Merit: 1278

I wonder about your old man if he just lent you a million without asking very specific questions and getting very convincing answers in return. That aside, I'm in an informal partnership with my old man as well. I figure out the tech and the money bits, he provides the money and we split the coins, and when the price is high enough that I can begin to rake I repay my part. Profit for both of us.

As for security, look into that BEFORE you make any large buys. Encrypted private key, encrypt the encrypted key, and use some strong passwords. Passwords that you can REMEMBER and don't write them down anywhere or tell them to anyone. If you can't keep a secret don't expect anyone else to.

Wilhelm

legendary

Activity: 1652

Merit: 1265

Put $1m into a mining rig. If 29 Mhash can be done for $15000 then you can do 1933 MHashes for $1m.
Probably you get some good discounts on hardware Cheesy

Results in 841 LTC per day which is 26572.95 USD per day.

Running a year and you have somewhere around $9698780 excl. power which is approx. 5-8x your money per year Cheesy

notmichael

newbie

Activity: 13

Merit: 0

Use the million dollars to hire people to open your own exchange. Seems to be plenty of opportunity to compete. Making .2% per transaction, you'll have a million dollars worth of bitcoins by the end of 2014.

Actually using the money for a bitcoin related start-up seems a better way to score some coin (as well as not piss off your dad), while scaling up and learning along the way, as opposed to trying to time the market real quick.

Dafar

legendary

Activity: 1330

Merit: 1000

dafar consulting

Quote from: ajax3592 on December 06, 2013, 03:05:25 PM

You should observe the market for a few days, don't get judgmental and end up making bad decisions.
How old are you btw

25

notmichael

newbie

Activity: 13

Merit: 0

Looking forward to reading about how this ends on major news outlets.

ajax3592

full member

Activity: 210

Merit: 100

Crypto News & Tutorials - Coinramble.com

You should observe the market for a few days, don't get judgmental and end up making bad decisions.
How old are you btw

zeroday

donator

Activity: 784

Merit: 1000

Selling is always risky. Nobody knows the bottom.
I never sell, only buy and I'm always happy with this my dumb strategy.

Dafar

legendary

Activity: 1330

Merit: 1000

dafar consulting

Quote from: Tzupy on December 06, 2013, 01:50:59 PM

What is going on is corrective wave C. If you still want to buy, wait until it hits the bottom, but you probably won't be able to recognize it.

I have some I bought at $680 with my own money.... should I sell?

zeroday

donator

Activity: 784

Merit: 1000

If I had fiat on my exchange account, I'd spent half of it putting bids from $850 to $500 with step of $20.

Tzupy

legendary

Activity: 2170

Merit: 1094

What is going on is corrective wave C. If you still want to buy, wait until it hits the bottom, but you probably won't be able to recognize it.

Dafar

legendary

Activity: 1330

Merit: 1000

dafar consulting

Sooooooo..... the price is around ~$856 right now. If i bought it last night I would have been down $200K already holy shit!

Wtf is going on? Huh

Is anyone buying?

Quote from: Tomatocage on December 06, 2013, 01:00:42 PM

She had them Apple Bottom jeans, them boots with Dafar...

LOLOLOL

SuperHakka

full member

Activity: 196

Merit: 100

he may be your Dad but what you are advoating OP is obtaining funds by deception, ie. financial fraud, your dad gonna throw your ass to the feds Tongue

Tomatocage

legendary

Activity: 1554

Merit: 1222

brb keeping up with the Kardashians

She had them Apple Bottom jeans, them boots with Dafar...

Jcw188

hero member

Activity: 546

Merit: 500

Carpe Diem

Come on think about it. If this is for real you must be able to blow this money. I mean your dad must be really rich and for you to risk it like this is irresponsible. Unless you buy slowly, and put a stop loss order in so that you won't lose much of the money, if it goes down in price.

lophie

hero member

Activity: 924

Merit: 1001

Unlimited Free Crypto

Short, straight tot he point and very easy answer, DON'T, it is risky as hell especially now!

Topic: Borrowed $1,000,000 (1 million dollars) from my dad to invest in BTC (serious) - page 4. (Read 18460 times)