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noob2001

jr. member

Activity: 51

Merit: 502

Quote from: Miz4r on November 12, 2013, 07:15:33 PM

Quote from: noob2001 on November 12, 2013, 06:30:24 PM

so, i'm not that old, about 13, i don't have a job and i don't have a lot of savings to invest.......

after a huge amount of research, and in a moment of madness i withdraw from my college fund, which is technically mine although its my parents who pay into into it.

i've managed to buy 12 bitcoins. i'll be holding these indefinitely, even if the btc price drops 90%. no trading, although i may sell x amount to cover my expenses if things go well.

please reassure me i've done good?

and is 12 btc a good position?

and no lectures.

thanks

Honestly, I think it wasn't a smart thing to use your future college money for that without the consent of your parents. I am superbullish on bitcoin and I believe it holds a bright future, but many things can happen and there is always a real possibility your bitcoins will become worthless. What will you do if suddenly your college fund becomes worthless? There's a reason why many people advise others not to invest more than you can afford to lose. Can you afford to lose this? I'm not sure how rich your parents are, but I'm sure they won't be too pleased when they find out. Oh well either way it will be a good life lesson for you to learn, I have to admit that if I was 13 and learned about bitcoin I would probably try to scramble for money everywhere to buy some. Tongue

I wouldn't have gone all in at the current price though, I would have bought my bitcoins slowly over the course of several months to make sure I didn't go all in at the top of this huge rally.

thanks

i don't want to go to college. if the shtf, i'll get a job at 16. and maybe travel.

mccorvic

hero member

Activity: 518

Merit: 500

Quote from: noob2001 on November 12, 2013, 06:30:24 PM

so, i'm not that old, about 13, i don't have a job and i don't have a lot of savings to invest.......

after a huge amount of research, and in a moment of madness i withdraw from my college fund, which is technically mine although its my parents who pay into into it.

i've managed to buy 12 bitcoins. i'll be holding these indefinitely, even if the btc price drops 90%. no trading, although i may sell x amount to cover my expenses if things go well.

please reassure me i've done good?

and is 12 btc a good position?

and no lectures.

thanks

At least you didn't buy a $12000 wizard hat.

But jebus, I wish I had a college fund worth that much when I was 13.

BitchicksHusband

sr. member

Activity: 378

Merit: 255

Yeah, I hated junior high, but I loved high school and college. My younger daughter hates junior high right now, but my older daughter loves high school.

thezerg

legendary

Activity: 1246

Merit: 1010

Quote from: noob2001 on November 12, 2013, 06:52:54 PM

cheers guys
and tbh i don't want to go to college. i'm a capitalist at heart, and i hate school.
I've stored the coins in electrum wallets on usb sticks.

college isnt like the school you are in now at least not in most ppls experience. try it ev3n if u become btc millionaire! Very few end up not liking it... now all school is is classes, but in college the rest of the time is hanging w your friends. and if that still doesnt sound fun to you then trust me by 18 or so kids actually start to grow up and college is so big you'll find friends and never see the assh0les... its like 4 yrs with friends and without any parents :-)

Davyd05

hero member

Activity: 574

Merit: 500

I'd advocate for telling your parents now, I'm much older but I've convinced my parents to invest in to bitcoin.

I just don't see your parents liking the dishonesty. But I do understand that you're trying to be apart of a seemingly undergoing revolution of the ways we spend, store and buy.

noob2001

jr. member

Activity: 51

Merit: 502

Quote from: Anon136 on November 12, 2013, 06:59:41 PM

if the price were still 100 dollars i would say heck yes. at 400 dollars I'm worried for you. though this newest price increase does feel more natural than the rallies that preceded it, the way it has leveled off and is holding steady is a good sign that this rally is the product of fundamentals more so than greed.

when you start to feel scared just remember that (basically) every single person who ever bought at an all time high before today has made money.

thanks.

i've been looking at the yearly log scale charts, and the price doesn't look to overvalued.

it will be scary if it drops 50% from here, but i had to take the plunge.

Barnacle_Ed

sr. member

Activity: 271

Merit: 250

Quote from: crazy_rabbit on November 12, 2013, 06:39:17 PM

I'd be curious how being 13 you were able to withdraw from your bank account and buy the bitcoins.

This. I thought most college funds weren't touch-able until you hit a certain age...

On bitcoin price rises: I'm personally bearish and think this recent pop-up over $300 will come crashing down soon. We'll probably see the price consistently rise in the next year though, but I'm not sure about the next 5. Best of luck to you.

On college: If you plan to become some kind of business hot-shot, having a degree in hand gives you a huge leg up. Even if its only for networking opportunities. Just my 2 satoshis. Also, just don't go majoring in liberal arts or some crap that won't actually get you hired.

Miz4r

legendary

Activity: 1246

Merit: 1000

Quote from: noob2001 on November 12, 2013, 06:30:24 PM

so, i'm not that old, about 13, i don't have a job and i don't have a lot of savings to invest.......

after a huge amount of research, and in a moment of madness i withdraw from my college fund, which is technically mine although its my parents who pay into into it.

i've managed to buy 12 bitcoins. i'll be holding these indefinitely, even if the btc price drops 90%. no trading, although i may sell x amount to cover my expenses if things go well.

please reassure me i've done good?

and is 12 btc a good position?

and no lectures.

thanks

Honestly, I think it wasn't a smart thing to use your future college money for that without the consent of your parents. I am superbullish on bitcoin and I believe it holds a bright future, but many things can happen and there is always a real possibility your bitcoins will become worthless. What will you do if suddenly your college fund becomes worthless? There's a reason why many people advise others not to invest more than you can afford to lose. Can you afford to lose this? I'm not sure how rich your parents are, but I'm sure they won't be too pleased when they find out. Oh well either way it will be a good life lesson for you to learn, I have to admit that if I was 13 and learned about bitcoin I would probably try to scramble for money everywhere to buy some. Tongue

I wouldn't have gone all in at the current price though, I would have bought my bitcoins slowly over the course of several months to make sure I didn't go all in at the top of this huge rally.

Buffer Overflow

legendary

Activity: 1652

Merit: 1016

Quote from: noob2001 on November 12, 2013, 06:52:54 PM

hmmm they don't know, and they shouldn't find out either unless they check the account balance.... Tongue

Or until the quarterly account statement pops through their letter box.

proudhon

legendary

Activity: 2198

Merit: 1311

Quote from: Missionary on November 12, 2013, 06:39:26 PM

In the long run it may very well have been a good investment. I would recommend any (adult) friend to consider buying right now.

Since you are a minor, lectures are not optional:

[lecture]
You should have convinced your parents instead of doing it behind their backs. Would I have been your dad, I would have been mad and proud at the same time. These kinds of decisions are for adults. Period.
[/lecture]

+1

utarinues

member

Activity: 114

Merit: 10

Quote from: noob2001 on November 12, 2013, 06:52:54 PM

I've stored the coins in electrum wallets on usb sticks.

You may as well print your private key, usb sticks should not be used to store data many years securely

Quote from: noob2001 on November 12, 2013, 06:52:54 PM

hmmm they don't know, and they shouldn't find out either unless they check the account balance.... Tongue

You really have balls Cheesy

bee7

hero member

Activity: 574

Merit: 523

Quote from: noob2001 on November 12, 2013, 06:52:54 PM

cheers guys

hmmm they don't know, and they shouldn't find out either unless they check the account balance.... Tongue

highly unlikely, but if they do i'll come clean, obviously.

if bitcoin goes to $1million i'll be set for life, even if it takes 10 years to get there. this seems like too good of an opportunity to miss out on, and tbh i don't want to go to college. i'm a capitalist at heart, and i hate school.

I've stored the coins in electrum wallets on usb sticks.

Cool

It would be better to transfer them to a paper wallet and keep copies of it in a safe places. USB sticks may become unreadable over time. This is not proved, however, the opposite is not proved too.

MaxBTC1

newbie

Activity: 56

Merit: 0

Have you discovered the joys of masturbation yet?

Anon136

legendary

Activity: 1722

Merit: 1217

if the price were still 100 dollars i would say heck yes. at 400 dollars I'm worried for you. though this newest price increase does feel more natural than the rallies that preceded it, the way it has leveled off and is holding steady is a good sign that this rally is the product of fundamentals more so than greed.

when you start to feel scared just remember that (basically) every single person who ever bought at an all time high before today has made money.

TheKoziTwo

legendary

Activity: 1552

Merit: 1047

I wouldn't count on 1 million any time soon, but I'd say your odds of making money are very good if you can hold for a couple of years or more. It's amazing to hear you consider yourself a capitalist at only 13 years old. Hopefully more youth is waking up now days thanks to the internet. That is really great to hear. Good luck and don't tell you parents, that's probably a bad idea lol.

noob2001

jr. member

Activity: 51

Merit: 502

cheers guys

hmmm they don't know, and they shouldn't find out either unless they check the account balance.... Tongue

highly unlikely, but if they do i'll come clean, obviously.

if bitcoin goes to $1million i'll be set for life, even if it takes 10 years to get there. this seems like too good of an opportunity to miss out on, and tbh i don't want to go to college. i'm a capitalist at heart, and i hate school.

I've stored the coins in electrum wallets on usb sticks.

Cool

the_sunship

full member

Activity: 230

Merit: 100

good for you, at 21 I could have invested in Microsoft (1990). Someone told me about it, but instead I wasted money on smoking pot. I don't think the pot was even that great....

Buffer Overflow

legendary

Activity: 1652

Merit: 1016

When I start hearing stories like this emerging, I can't help but think the market has risen too high.

sgbett

legendary

Activity: 2576

Merit: 1087

Quote from: amadeo on November 12, 2013, 06:42:42 PM

Time will show if you are the best son ever or the worst. But I believe that if you have a good trading plan you will be fine.

He has the *best* trading plan - buy and hold!

amadeo

newbie

Activity: 26

Merit: 0

Time will show if you are the best son ever or the worst. But I believe that if you have a good trading plan you will be fine.

Topic: . - page 10. (Read 13598 times)