Four Years of Living on Bitcoin Alone. Can You Beat That? Is that even possible? - page 3.

eaLiTy

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Have Fun )@@( Stay Safe

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

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.

ice18

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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

btc_angela

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This story has been in this community for years already, I still remember it was the hype of 2017 when this news went out and people are calling them crazy. Because we all know how volatile bitcoin is. But I'm glad that they did make it through the bear market and now that we are in the upswing again, maybe just maybe this family will survived again.

Edit: Ok I think I've found one thread: This family bet it all on Bitcoin.

Josefjix

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yes

It is very possible whereas they have the patience and understanding of how the movement is. I remember when I first did transaction on Bitcoin in 2016 it was still valued at $1,000. If they actually got it stuck up till this very moment they will be super rich to afford every kind of lifestyle they so wish for.

ChrisPop

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Not your Keys, Not your Bitcoins

Yeah, I think it is mostly possible to live only by using Bitcoin with some exceptions. I'm skeptic that they have the ability to pay taxes using Bitcoin. That would imply their government to accept Bitcoin as a method of payment which I haven't heard of so far. I think what they did is a reckless move. You just can't liquidate everything and go ALL-IN into Bitcoin. Personally I don't think they actually did that. They probably had a backup savings account somewhere or a family relative who owns a house and assets in their name or smth like that...

They deserve congratulations for promoting Bitcoin and thinking of the idea, though.

plr

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Quote from: globalcitizen on December 05, 2020, 09:31:36 PM

Yes, their claim was that they liquidated all their assets including savings, retirement accounts, cars and clothes and bought bitcoin when the price was $900 in 2017. But my concern was how they were able to leave the investment there and spent only from their bitcoin holdings all these years with full confidence and trust. I must say it's an inspiring story if that was actually true.

That's thinking forward in the future and it actually pays off imagine $900 and $19000 price now is such a big difference, that's such a huge profit but it will only be a big profit if they are still holding majority of their Bitcoin, this is a good example of trusting in the future of Cryptocurrency I'm pretty sure this is not an isolated case and there are a lot of stories like this.

Innerpumper

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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

That's so amazing, they can predict the very right thing at the time, in fact we see bitcoin reach $18k in 2017 they only keep their assets in bitcoin in the next few months that will make them able to interfere for 4 years without working. I myself even regretted the same year and regretted why having to sell assets early in the next few months was soaring to hundreds of times the profit. It's not too late! there are many more concepts of bitcoin that can be excavated, for example, hardfork, now that we are in the Era of DeFi, What's Next?

Upgrade00

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Quote from: manfredmann on December 05, 2020, 08:49:23 PM

If they are lucky enough to buy bitcoin from the start before the 2017 ATH recorded

I do not consider this to be luck at all, they took a deliberate decision to buy Bitcoin, while risking a lot, without any assurance that there would be return on their investment or that the supposed profits would be worth the huge risk. This was in no way luck, a lot of people at the time know about Bitcoin, but only a tiny few would have been as audacious and maybe as reckless as this family.

Quote from: mk4 on December 05, 2020, 10:36:52 PM

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.

Take note that "living on bitcoin alone" probably doesn't necessarily mean that you need to pay for everything with bitcoin. I have no doubt that there were definitely a lot of instances where the family needed to sell a bit of bitcoin for fiat just to be able to pay for stuff. But regardless, even if they needed to sell some bitcoin, it should still be considered as "using bitcoin" because they're pretty much using bitcoin as their main savings currency. It shouldn't be no different than converting USD to JPY when going to Japan.

I was also thinking same, that they transacted entirely in Bitcoin for four years. In this way, it is not surprising at all as Bitcoin made a lot of people rich during the last all time high and while they may not be as peculiar as this family who were entirely iito Bitcoin, they all profited from it.

mk4

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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.

Take note that "living on bitcoin alone" probably doesn't necessarily mean that you need to pay for everything with bitcoin. I have no doubt that there were definitely a lot of instances where the family needed to sell a bit of bitcoin for fiat just to be able to pay for stuff. But regardless, even if they needed to sell some bitcoin, it should still be considered as "using bitcoin" because they're pretty much using bitcoin as their main savings currency. It shouldn't be no different than converting USD to JPY when going to Japan.

One avid Bitcoiner, Max Hillebrand, has been "living on bitcoin" for a while now and he admitted that he needed to sell some bitcoin from time to time to pay for stuff. If you're interested, here's a podcast episode with him: https://www.youtube.com/watch?v=TY4efTaFCt8

With that said, the family took a huge risk, but it paid off. Definitely not something I would personally do but congratulations to them.

Darker45

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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.

GreatArkansas

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They already making a lot of money even we will not include how much they bought when Bitcoin still at cheap prices.
As far as I know, they already got some sponsors for them, I saw before Didi Taihuttu which seems he is trading and got some sponsors for his videos, doing some interviews, giving his opinion, he is also a speaker, and a video blogger too.
Overall, I am really proud of this family, I hope they will able to manage their wealth accordingly.

globalcitizen

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Decentralized global citizen and crypto-preneur

Quote from: manfredmann on December 05, 2020, 08:49:23 PM

If they are lucky enough to buy bitcoin from the start before the 2017 ATH recorded and has been able to profit and doing trade then yes, it is possible by trading they ewrb huge that if they invested also huge. However, there are many ways that they can earn in bitcoin like bounty hunting, they showcase their skills and much more like they started a platform for bitcoin users like gambling platform and earn until now. These are the may scenarion that may apply to them and they can live just by bitcoin alone as a means of living but this is very rare to happen.

Yes, their claim was that they liquidated all their assets including savings, retirement accounts, cars and clothes and bought bitcoin when the price was $900 in 2017. But my concern was how they were able to leave the investment there and spent only from their bitcoin holdings all these years with full confidence and trust. I must say it's an inspiring story if that was actually true.

manfredmann

member

Activity: 518

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If they are lucky enough to buy bitcoin from the start before the 2017 ATH recorded and has been able to profit and doing trade then yes, it is possible by trading they ewrb huge that if they invested also huge. However, there are many ways that they can earn in bitcoin like bounty hunting, they showcase their skills and much more like they started a platform for bitcoin users like gambling platform and earn until now. These are the may scenarion that may apply to them and they can live just by bitcoin alone as a means of living but this is very rare to happen.

globalcitizen

full member

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Decentralized global citizen and crypto-preneur

Just a few hours ago I bumped into this story of a family that has lived on Bitcoin for 4 yrs travelling around 40 countries. That story did not just got me excited and motivated, but it also activated some doubts from within that I started to ask "how?". Was that even possible?

It is very rare to hear this kind of story but the interesting family claimed that this was made feasible after they had liquidated all their assets, from their retirement accounts and cars, to their clothes and toys, and bet it all on #Bitcoin in 2017 when it was valued at $900 per coin. Did you read that? Nine hundred dollars then! May be that could give the claim a kind of credibility after all. What do you think?

I would take my doubt to have been misplaced if some of you here can question the doubt by given some evidences that show that it is hundred percent possible to live a bitcoin life for four good years as the news has shown this beautiful family to have done.

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

Topic: Four Years of Living on Bitcoin Alone. Can You Beat That? Is that even possible? - page 3. (Read 608 times)