Four Years of Living on Bitcoin Alone. Can You Beat That? Is that even possible? - page 2.

globalcitizen

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Quote from: Karartma1 on December 06, 2020, 05:52:05 AM

If I was in these guys shoes I would be very careful to stop doing what they are doing and ejoying some cooling off transition time. They can become an easy target for criminals wanting to get some bitcoin. I would be very afraid to know that the whole world knows about me and my BTC. OpSec first guys.

I will also tell you that people do different things for different reason. I don't think their intent was to show the world the amount of Bitcoin in their wallet but to sell themselves to the world as Bitcoin champions and evangelists. In fact most people wouldn't even care to know the amount of Bitcoin they have but would likely question how possible that claim was. Of course, no one can accurately guess the quantity of Bitcoin assets the family holds. But the publicity their decisions and actions are getting them is the real winner.

dimonstration

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Dimon69

Quote from: newwest on December 06, 2020, 05:44:18 AM

I do not even know how many of us can even think of selling everything and just buy bitcoin and live on it. I am sure they would have used fiat somewhere or other because not many countries have even accepted bitcoin fully and everything you can get on bitcoin. But it is really inspiring that even if they would have survived majority of the things while paying bitcoin which itself is incredible.

They might be using a third party app or wallet that enables to convert their BTC into fiat whenever they do purchase or use it in having transactions as well buying or selling online. Or they only go in stores that accepts crypto as payment. It will be a better opportunity for them also to let others know that it is able to live using BTC but provided the third party wallet is legit.

MCobian

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Didi Taihuttu and her family are amazing in my opinion, her initial decision was what made the family successful.
Not many people want to do as Didi did by believing 100% of Bitcoin, but his courage finally gave him wealth and
happiness. To be honest I was very inspired by Didi Taihuttu, but I don't have the courage that Didi has done.

coolcoinz

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That's a huge achievement. Definitely unbeatable, because times are changing and if anyone starts now they'll be doing it in a different world. Living on Bitcoin in 2018 was much harder than doing the same thing in 2021 is going to be. Congratulations!

Quote from: Karartma1 on December 06, 2020, 05:52:05 AM

If I was in these guys shoes I would be very careful to stop doing what they are doing and ejoying some cooling off transition time. They can become an easy target for criminals wanting to get some bitcoin. I would be very afraid to know that the whole world knows about me and my BTC. OpSec first guys.

If they're traveling in a car like that one from the picture they obviously don't care.

oktana

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Wow! That image is just inspiring. It is amazing how they won't forget what took them that far. Some people will make their profits and vanish into the thin air without giving Bitcoin the credit. But this fam? Their appearance alone gives joy!

samputin

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That was some huge risk and lucky for them, it paid off. But do they still have a job? Like the parents, I mean. Maybe at some point, they still had to depend on fiat or whatever. Four years is such a long time. Anyway, I don't know if I can beat that but I don't think I'd be trying to do that and bet it all on bitcoin. I'm okay with living using fiat and bitcoin alternately depending on my needs.

globalcitizen

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Quote from: Darker45 on December 05, 2020, 10:22:19 PM

I got confused. I thought by living on Bitcoin alone you meant that the family has only Bitcoin as their currency for four years, that they buy all their stuff using Bitcoin alone. I guess by living on Bitcoin alone you actually meant the family is living off from their Bitcoin income alone for four years.

That's very possible. If they bought Bitcoin at around $900 with all their assets, then they have really made a big money out of it. They must have bought Bitcoin in the first quarter of 2017. That year alone finished with their investment growing at least 22x or more than 2000%. Even with the plunging of Bitcoin's price after 2017, they still made profit because Bitcoin's price never came back below 4-digit.

Yes, from the content of the story on the original source, I guess that's what they meant - living off their Bitcoin assets and income after they had converted all their assets to Bitcoin and was left with no other income-yielding assets. But, I do think that literally speaking, it doesn't mean that they've got no income-generating jobs that they do to earn money aside their Bitcoin investment. That's the reason for my doubt and it's hard to believe otherwise.

Casdinyard

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Sounds not as accurate as what happened in their case. Way back 2017, there are only few countries wherein cryptos are not widely accepted as a mode of payment so it is hard to believe that it is Bitcoin which they used to buy their needs as individuals. Also, the market price is volatile and they might be that lucky to be able to know ehen to buy and to sell in order to prolong their funds, which is a bit hard knowing that the market price is volatile in its nature. I honestly won't do such thing. Liquidation of all my assets to put it into something which will give me no assurance of earning profit. Well, good for them they made it through years.

Fredomago

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Quote from: globalcitizen on December 05, 2020, 08:44:29 PM

Let us know what you think about this family's claim and may be tell us what and how you have spent your Bitcoins over the years.

source: https://t.co/iQUAGgxvB3?amp=1

I think there is a similar topic that has started yesterday about this family though i believe that this comes first in this forum back in either 2017 or 2018 if i am not mistaken.

https://bitcointalk.org/index.php?topic=5297498.new#new

Here's the Topic ..

These Family is truly awesome as being Proud Bitcoiner and how can you compare them to those HODLER's but after making profit will convert their Bitcoin in Fiat or in other altcoins.

If given a chance in the future ,when i made Good amount of profit i may consider also going other country using only Bitcoin.

sheenshane

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It could be possible if the family were able to enrich the amount of Bitcoin that they initially invested using the total liquidated assets such as the retirement, cars, and the rest since they were able to start when Bitcoin was still at the price of $900 and seeing how it grows up to the current price.

However, for the family's expenses somehow it could be a little tight if they are just depending on the increase of bitcoin's value IMO. They still do other ways to gain and become profitable in the Bitcoin world such as trading or possibly they also do exchanges which could suffice the needs of the family.
Four years of living through Bitcoin is such an inspiring story that could make people change their perception towards Bitcoin on how it addresses the issue of the devaluing state of currencies but also for everyone's living.

milani

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In case they were loiving four years on Bitcoin only, in my opinion it is not possible. May be they have got Bitcoin one day and during those 4 years they were exchanging it into fiat or some other variant, so of course it may be why not. Lots of people who started in crypto from the very beginning became millionaires and it is not a secret. But living during 4 years and using only Bitcoin - to pay for elementary things, like food, petrol, house rent or services - it is too complicated.

thesmallgod

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It is possible. That 2017 is an unforgettable moment in cryptocurrency up till date and if they actually take that step (not telling a fictional story) then I think they have made a fortune for themselves. Even an average hunters during the period was a rich man Grin

. That year the rise in market price of crypto was not only limited to bitcoin but all other altcoin rise as well. I could remember any of newly listed coin can go up to 100x of the price during the ICO. It was a massive profit for investors. I could remember someone here on BTT from my country earning a huge amount of dollars from pundiX. I still believe one day like this will come even though bitcoin is almost 20k ATH but I wanna see the effects also on other altcoin. Even if some of them go just 2x

Lucius

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So why would it not be possible to live only from BTC, it is accepted in thousands of places as a means of payment? Didi Taihuttu and his family risked everything they had to move completely to BTC, and it paid off in the end many times over, not only financially but also with a great life experience, especially for their children.

It is also incorrect that the family invested in BTC at a price of $900, as according to information that later emerged their property was sold for 85 BTC which at the time was approximately $4000 for 1 BTC.

Quote from: mk4 on October 14, 2017, 11:29:15 AM

Read the article. He didn't get in at an all time high. He got in at a reasonable price, at around $4100.

"His property has been sold to a cryptocurrency trader under reservation and fetched him 85 bitcoins which equals a whopping €300,000 or £269,000."

€300,000 = $354,639

354,639 / 85 = $4172 per bitcoin

Karartma1

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If I was in these guys shoes I would be very careful to stop doing what they are doing and ejoying some cooling off transition time. They can become an easy target for criminals wanting to get some bitcoin. I would be very afraid to know that the whole world knows about me and my BTC. OpSec first guys.

newwest

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Quote from: ice18 on December 06, 2020, 02:45:28 AM

I already read this story few times ago the lucky family who decided to buy bitcoin with all their assets and continue traveling the world without permanent home and using only bitcoin for expenses I dont know if this is really possible to just use btc now with no fiats at all I search it in YT and you can see their adventure on their YT channel https://www.youtube.com/c/TheBitcoinfamily/videos

I do not even know how many of us can even think of selling everything and just buy bitcoin and live on it. I am sure they would have used fiat somewhere or other because not many countries have even accepted bitcoin fully and everything you can get on bitcoin. But it is really inspiring that even if they would have survived majority of the things while paying bitcoin which itself is incredible.

Wexnident

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It doesn't seem like everything was done through Bitcoin. Everything they spent came from their Bitcoin assets, and they tried paying through Bitcoin as well, but it mostly lead to situations where they had to find a better alternative. Just from those lines, you can already see that they may have lived off of Bitcoin for years, but not necessarily paid everything with Bitcoin. Just recounting to back when they started going for Bitcoin, adoption was quite small, only a few stores accept Bitcoin, not to mention countries. I guess you could say that they made quite the heck out of a few negotiations here and there just to force their way of using Bitcoin as payment, though those negotiations just lead to probably having a third party convert BTC to fiat.

Nonetheless, props to them for their decision. Having the guts to do that with an asset with an unknown future, you could guess this literally was the ride that they had for their lives.

Wysi

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I don't have any doubts about the family transacting only in bitcoin for 4 years if they got lucky during 2017 bullrun and they took risk of liquidating their asset including some of basic stuffs which paid them back. But I don't think it's possible due to the current price of bitcoin. There are so many other individuals who have been benefited in similar way so there is not even a bit of doubt which could cross my mind.

avikz

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If I am not mistaken, I had read their story earlier also but can't remember when and where! But this news is not new in any way!

I wouldn't say that living entirely on bitcoin is impossible but super risky! I joined bitcoin market when it's value was just $300, but I couldn't take such risk to liquidate my entire cash flow into bitcoin! I would have become a millionaire if I had done that, but couldn't accept the risk that comes with such kind if uncertain investment.

I am glad that a family had accepted that risk and doing just fine! Also they are promoting bitcoin in their own way. Fortune favors the brave!

carlisle1

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Quote from: globalcitizen on December 05, 2020, 08:44:29 PM

source: https://t.co/iQUAGgxvB3?amp=1

if i'm not mistaken this becomes controversial Back in 2017 when the price of Bitcoin is climbing high then the Interview about this family comes out
that they sell everything that they have and even clothing (in which i questioned coz how much an used clothing Value) and i doubt that
i can do this by myself,I trust Bitcoin and i have been accumulating little by little for long but I had family to fed and i can't survive
without a concrete income monthly.

This decision is really life changing because at any point they can lose everything and start from nothing,But of course Knowing bitcoin
this will not dropping forever.

If the family comes Good now then Congratulation but If there is others that planning to do same?
Please think over and over before making final decision.

ChrisPop

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Quote from: eaLiTy on December 06, 2020, 03:51:05 AM

I am not sure whether you can call them lucky, they took the risk selling everything they had and invest in BTCitcoin and everyone had the opportunity to do that if they really trusted and wanted to take a risk Grin

. I will not take that kind of risk and then travel the world living in tents but one thing that the risk made them is popularity as many news publication published their journey.

Definitely. From what I have read they have a background in marketing. So this might have been a disguised investment in advertising. They not only managed to start a content creation business just by changing some of their assets in Bitcoin, but they managed to travel the world at the same time. Pretty intelligent if you ask me and not that risky if you think about it.

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