High school dropout who invested in bitcoin is now a millionaire at 18

darsiderin

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BitSong is a decentralized music streaming platfor

Quote from: denzkilim on July 03, 2018, 04:11:36 AM

Quote from: FlightyPouch on June 30, 2018, 09:40:30 PM

Quote from: OscarWatson3213 on June 30, 2018, 09:03:29 PM

Bitcoin opens up new opportunities for everyone.I'm getting a bit old now so I hope that I reached this success as soon as possible so can start living my dreams.

You will not be the one who will be stating this since the price of the crypto currency is very volatile. If you want to be successful as that 18-year old millionaire, you don't need to hope, you got to do it, you need to learn it. And as far as I know, he also sold a site so getting from that, Bitcoin is not the only thing that will make you rich.

Very well said Grin

The 18 year old drop out kid is just lucky enough to invest in Bitcoin when its price are still low and that is pure luck. Getting rich doesn't only require luck but if you got those much better Cheesy

A person should work hard to and learn a lot to be able to achieve his goals in terms of monetary needs and financial stability. Yes Bitcoin opens up a lot of opportunities to everyone but, is it only Bitcoin that can make everyone rich and achieve their goals? seriously there are a lot of people who got a huge amount of lose when they joined the hype on 2017 with the goal to earn a lot of money from investing in this technology without knowing that crypto currencies are very volatile and anything can happen in a matter of minute or hour. Cool

The success story of this 18-year-old guy is not an accident. Other people would have acted differently in his place. He deserved success with his intellect and interest in everything new. Cool

cris ronaldo

newbie

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I saw his history on YouTube and it is impressing. He did right thing by investing the profit in other businesses.

fcf1081

newbie

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Well maybe that the best option for him during that time, he choose the lower value instead of the bigger one...everyone can choose and look where he is now, a multi millionaire at early again..who wouldn't believe it will happen for just an ordinary guy like him.. he is indeed lucky..

denzkilim

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Quote from: FlightyPouch on June 30, 2018, 09:40:30 PM

Quote from: OscarWatson3213 on June 30, 2018, 09:03:29 PM

Bitcoin opens up new opportunities for everyone.I'm getting a bit old now so I hope that I reached this success as soon as possible so can start living my dreams.

You will not be the one who will be stating this since the price of the crypto currency is very volatile. If you want to be successful as that 18-year old millionaire, you don't need to hope, you got to do it, you need to learn it. And as far as I know, he also sold a site so getting from that, Bitcoin is not the only thing that will make you rich.

Very well said Grin

The 18 year old drop out kid is just lucky enough to invest in Bitcoin when its price are still low and that is pure luck. Getting rich doesn't only require luck but if you got those much better Cheesy

A person should work hard to and learn a lot to be able to achieve his goals in terms of monetary needs and financial stability. Yes Bitcoin opens up a lot of opportunities to everyone but, is it only Bitcoin that can make everyone rich and achieve their goals? seriously there are a lot of people who got a huge amount of lose when they joined the hype on 2017 with the goal to earn a lot of money from investing in this technology without knowing that crypto currencies are very volatile and anything can happen in a matter of minute or hour. Cool

KrakenZ

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Indeed we never know the future or the fate of someone. Therefore, do not disparage others because not necessarily the person we humble always under us. Life is like a wheel that will keep spinning. Sometimes our position is above and sometimes our position is below so that we will not always survive in the top position. In bitcoin business, bitcoin does not look at a person's background because even if someone is very intelligent but not diligent and has a strong will then it will not succeed. Highly educated is not a guarantee someone always successful. People who are diligent, patient, and willing to work hard will certainly be successful despite the young age.

vincentys

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Quote from: jessicaldiaseso on July 03, 2018, 04:00:49 AM

For me education is an obligation and responsibility. I hope the story does not result in the dropout rate growing. If it's because of financial problems I think I should be giving a thumbs up because of his passion to make money even if he dropped out of school.

Sadly, the moral of the story sometimes applies differently for each individuals. The majority will most likely see it as a get rich quick - scheme.

jessicaldiaseso

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For me education is an obligation and responsibility. I hope the story does not result in the dropout rate growing. If it's because of financial problems I think I should be giving a thumbs up because of his passion to make money even if he dropped out of school.

muhammedb

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Quote from: Bitcoin Guy on June 21, 2017, 11:34:08 AM

http://www.c[Suspicious link removed]m/2017/06/20/bitcoin-millionaire-erik-finman-says-going-to-college-isnt-worth-it.html

Erik invested in bitcoin when he was 12 and not is a millionaire at age of 18. This is a good story for Bitcoin.

But here is something that I do not understand:

An excerpt from the article:
"Eventually he found a buyer for Botangle's technology in January 2015. The investor offered either $100,000 or 300 bitcoin, which had dropped in value at that time to a little more than $200 a coin. He took the lower cash value bitcoin deal because he believed it was "the next big thing."

"My parents asked 'Why don't you take the more cash?"' Finman explained. "But I thought of it more of an investment.""

Why didn't he take the $100K and bought more bitcoins instead? Granted that there has to be some tax consideration, but tax rate has to be as high as 40% in order for both of the cash option and the bitcoins option to breakeven. If the tax rate was at 40%, then he could get $60K after tax and would be able to buy 300 bitcoins at the market price ($200 at the time). Moreover, one day when he sells the bitcoins, he can dedect $200 on each of the bitcoins from the capital gain as cost.

Am I missing something in here? Don't drop out from high school? Cheesy

I think he has a good talent of entrepreneur at it early age because at age of 12 I don't think I was able to handle this kind of issues, choose cash meant have changed his dreams from bitcoin because as it was stated above the taxi fee was very high (40%) which could have make him think of using the money for something else if he accepted cash.
The accept of dropping out of school is not right as at that age all you think is how to build you educational future not making money, education is important to manage your investment.

maculeth

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BountyMarketCap

I already know if people who have started investing in bitcoin 5 years ago, must now have menajdi billionaires. because bitcoin prices 5 years ago is still cheap and if they sell it in the end of 2017, surely they mendaptkan many advantages. let's say they have 5 bitcoins or more, we already know the numbers they will get.

Rambogae

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Quote from: maariyaam on May 20, 2018, 07:33:23 PM

At a very young age, he's thinking is already in advance. Not all 12 years old can think that way. Some people will choose the money instead of Bitcoin because they see it as no value. But the student thinks of it as an investment and I am amazed.

I think He invested his bitcoin initially into the business, then bought back by selling the business from what I read. He is not an average high school. What is the probability that a 12 year old will invest in bitcoin by then? It is not possible for experienced parents, let alone small children. It must be a genius + luck to stumble on bitcoin at the right time.
I read this a few days ago on reddit. We all want to be this person and retire early, even he is the type of man who keeps going after getting rich.

chidrawarster

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Thats amazing news ,never thought such incidents will come through by making somebodys fortune for a lifetime. Even i wish i could have been one among them but still i suggest educations is also equally important and in turn increases the awareness in all aspects.I wouldnt leve school or college in between for btc instead i would complete the education and invest parellely and manage the portfolios.Everybody is not lucky as this person and everybody have got their own destiny.

MrRiuss

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age and education do not have a relation with a bitcoin. but knowledge about bitcoin is a must.

mabell943

sr. member

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I think not all people can easily believe on this but we should remember that the life is not will start or end at the school. It will just a guide and your actions will speaks a achievement that you will receieved.

FlightyPouch

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Quote from: OscarWatson3213 on June 30, 2018, 09:03:29 PM

Bitcoin opens up new opportunities for everyone.I'm getting a bit old now so I hope that I reached this success as soon as possible so can start living my dreams.

You will not be the one who will be stating this since the price of the crypto currency is very volatile. If you want to be successful as that 18-year old millionaire, you don't need to hope, you got to do it, you need to learn it. And as far as I know, he also sold a site so getting from that, Bitcoin is not the only thing that will make you rich.

katarin2030

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Activity: 406

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Chances are there to become millionaire, already we have instances where few dropouts from college, unemployed people have become millionaires by bitcoin. That is the power of bitcoin anyone can become rich but need to be at right time, right place.

OscarWatson3213

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Bitcoin opens up new opportunities for everyone.I'm getting a bit old now so I hope that I reached this success as soon as possible so can start living my dreams.

jpnl0003

newbie

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A very good story and sound much as an encouragement but not encouraging anyone to drop out of high school.But congratulations to him he has done well as a teen making good use of his brains but he should still continue his education because that he cant buy.

gwyncox.81

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You know it`s rather hard to define whether such stories are true or false. so to judge him for something is not worth it.

eolitic

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what a clever kid!))) I really hope he will spend his money in a clever way)) unfortunately, there are so many bad examples of children who got rich. But I really want to think, that this won't happen to this guy!)) and about your question (why didn't he sell his btc and buy more?), he invested in btc, but still he was a child)) But still, no matter how much money you have you need to study.. or should i say to educate yourself..

2fresh

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So someone got lucky by investing in something when he was 12, big deal guys, bitcoin has made many millionaires.

Topic: High school dropout who invested in bitcoin is now a millionaire at 18 (Read 6551 times)