Topic: High school dropout who invested in bitcoin is now a millionaire at 18 - page 8. (Read 6577 times)
March 07, 2018, 08:52:06 AM
Erik Finman made a bet with his parents that if he turned 18 and was a millionaire ,they would not force him to go to college. Thanks to his savvy investment in bitcoin and the current time high valuation ,"He wont have to get his degree. He said I can proudly say "I made it, and I'm not going to college, Finman said .He currently owns 403 bitcoins which at the current $2700 a coin put his bitcoin value at &1.09 million.He also has smaller investment in other cryptocurrencies, including litecoin and ethereum. Finman said "Personally I think Bitcoin is going to be worth a couple hundred thousand to a million dollars a coin , he said.
March 07, 2018, 07:24:05 AM
What I think is that BTC is equal with everyone and success doesn't need additional educational attainment. what's more, youngers has easy ways to collect the information he wants and trades the crypto-currencies in the market. To be honest, I'm newbie here and jealous of him when he is a millionaire at 18.
March 07, 2018, 07:12:05 AM
March 07, 2018, 06:57:02 AM
Guy well done that time to invest in a time when still bitcoin lower cost and sold it, but strange things why parents did not understand the problem of taxes.
March 07, 2018, 06:17:19 AM
I believe his friends would be so jealous of him when they hear the news of him becoming a millionaire at the age of 18, I would say that is a very huge accomplishment achieved by him at his age, and now he can drop out of school and continue his interest on crypto-currencies.
March 07, 2018, 06:03:08 AM
Let's start with small you can invest about 2000 rubles. for a start And then just dokinut.
February 28, 2018, 07:28:21 AM
At the age of 13, I was busy playing point blank because tournaments and nonsense, had stumbled on bitcoins but never bothered to see that I did not have my own pc at the time. I'm interested in reading a meme about it having a thousand-dollar tag. It was early 2016 and since then I have dedicated my time and part of my money to buy food by investing some of it.
February 24, 2018, 03:16:45 PM
Making it with bitcoin does not requires educational qualification or age but how you can think very fast and risk taking. Bitcoin is for everyone and wealth is found in it.
February 23, 2018, 01:49:04 AM
Quote
The way the education system is structured now, I wouldn't recommend it," Finman said. "It doesn't work for anyone. I would recommend the internet, which is all free. You can learn a million times more off YouTube and Wikipedia."
This guy is a bloody legend
Work smart, not hard. This is one smart guy. Hats off to that guy.
BTW I think the link in the OP is borked. Here is another link to the article: http://www.cnbc.com/2017/06/20/bitcoin-millionaire-erik-finman-says-going-to-college-isnt-worth-it.html
It's a pretty interesting read so give it a go.
Sometimes I'm also thinking if going to college will make your life comfortable. In my own experience, here in my country most college graduates are working with some companies. In short, they are slaves to their bosses which I don't like to experience. I want that I am the boss and I don't want to be a slave to other people just for a small money. I'd rather work with bitcoin in my house rather than working in an 8 - hour job.
February 23, 2018, 12:55:17 AM
I salute to this young man who became millionaire at a young age, though a dropped out in high school but was able to excel in other way. That's the good thing in btc, no educational attainment required but you can earned more compare to those who are working in industry.
February 22, 2018, 11:13:11 PM
Well this is one example that success in life doesn't need educational attainment and "right" age. He believed in Bitcoin that'll pump and chose to invest rather than to have cash. This really one wise choice, though he dropped out, he still got successful.
bitcoin is out from the ordinary job and every people have the same opportunity to make money from bitcoin but they need to work hard with the jobs. every people has a chance to make unlimited income from bitcoin no matter what is their background. the important thing is they have a passion to work-related with bitcoin and cryptocurrency.
February 22, 2018, 11:08:42 PM
Well this is one example that success in life doesn't need educational attainment and "right" age. He believed in Bitcoin that'll pump and chose to invest rather than to have cash. This really one wise choice, though he dropped out, he still got successful.
February 22, 2018, 08:12:07 PM
This just goes to show that Bitcoin and Crypto will be the greatest shift of wealth in this new Era.
February 22, 2018, 07:32:18 PM
I did read this the other day on reddit. We all wish to be this guy and retire early, even tho he is the type of guy that keeps going after getting rich. He invested his initial bitcoins into a business, then bought back by selling the business from what I've read.to the last part of not dropping out of school. Even Bill Gates and Mark Zuckerberg with their wealth will not encourage anyone to drop out of school for any reason. If I had been in his shoes at that age, I would have taken the same decision because at that time, I wont have any need for the money afterall so its an educated guess anyone would have taken and nothing special happen just that he took the decision more favorable to him.
That means Bitcoin is for everyone. A drop out, a successful one or educated one Bitcoin will help you succeed if you help yourself too. Never be discourage for the world has a better plan for you. A good example of determination to those young individual to invest at a young age. And surely success is waiting for you in the end.
February 22, 2018, 06:56:25 PM
I did read this the other day on reddit. We all wish to be this guy and retire early, even tho he is the type of guy that keeps going after getting rich. He invested his initial bitcoins into a business, then bought back by selling the business from what I've read.to the last part of not dropping out of school. Even Bill Gates and Mark Zuckerberg with their wealth will not encourage anyone to drop out of school for any reason. If I had been in his shoes at that age, I would have taken the same decision because at that time, I wont have any need for the money afterall so its an educated guess anyone would have taken and nothing special happen just that he took the decision more favorable to him.
August 18, 2017, 01:14:48 PM
It was actually a good trade off worth a 40,000$ difference it is worth it to invest on something that has dropped of in value lets say more than half the price. If this kid had done his research well then he knew what are the causes of the price drop and if that price drop is temporary or permanent. With that being said he knows what is the risk involve and it gladly paid him off.
August 18, 2017, 01:05:32 PM
I can say that his dropout experience is worth it for he found some stuff to work with and became a millionaire after all. But being a millionaire doesn't mean that he don't need to study anymore but a big opportunity to continue his college degree. education is very important in an individuals life and it cannot paid buy money.
Yes, obtaining education and learning knowledge (and not necessary for degree) is very important.
August 18, 2017, 11:41:13 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?
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?
I can say that his dropout experience is worth it for he found some stuff to work with and became a millionaire after all. But being a millionaire doesn't mean that he don't need to study anymore but a big opportunity to continue his college degree. education is very important in an individuals life and it cannot paid buy money.
August 18, 2017, 11:34:17 AM
The kid strikes again!
https://cointelegraph.com/news/bitcoin-teenage-millionaire-works-with-nasa-to-democratize-space
"The teenager who bought $1000 of Bitcoin in 2012 and became a millionaire is now working with NASA to launch a satellite.
In a second space-age announcement to come from the Bitcoin industry this week after Blockstream, Erik Finman says his Project Da Vinci aims to create a “global time capsule” and “democratize space.”
“We want to bring space exploration back to the present and give all people access,” Finman explains in a promotional video.
“To accomplish this, we’re creating a spaceship [...] that the world can actually use.”
The central concept behind Da Vinci is to cast the essence of humanity into orbit in the form of items and videos which anyone can contribute for consideration....."
https://cointelegraph.com/news/bitcoin-teenage-millionaire-works-with-nasa-to-democratize-space
"The teenager who bought $1000 of Bitcoin in 2012 and became a millionaire is now working with NASA to launch a satellite.
In a second space-age announcement to come from the Bitcoin industry this week after Blockstream, Erik Finman says his Project Da Vinci aims to create a “global time capsule” and “democratize space.”
“We want to bring space exploration back to the present and give all people access,” Finman explains in a promotional video.
“To accomplish this, we’re creating a spaceship [...] that the world can actually use.”
The central concept behind Da Vinci is to cast the essence of humanity into orbit in the form of items and videos which anyone can contribute for consideration....."
July 28, 2017, 11:08:52 PM
Here at the forum different thoughts are expressed as to why the twelve-year-old boy chose 300 bitcoins, and not 100,000 US dollars. But I would like to hear his opinion on the motivation of this act. And in general, of course, he was very lucky.
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