Topic: High school dropout who invested in bitcoin is now a millionaire at 18 - page 9. (Read 6577 times)
July 07, 2017, 10:22:48 AM
They said over 50% of the lottory winners lost/spent everything in a couple years and went bankrupted. The kid still has his money after all these years.
July 04, 2017, 10:11:51 AM
good example young kid even he is millionaire in bitcoin continue his study... the 18 years old millionaire in bitcoin, not too late for to continue his study to a degree in college. because study is one of the key to more success in life.
July 04, 2017, 08:48:06 AM
That is the good thing about doing it early and believing in your investment. What the kids did was smart on believing something new like Bitcoin in which he have risked plenty of money in order to gain. Believing on an investment is hard much more for something that is not tested or has been legally approve yet. But it paid off in the end in which right now he is a millionaire. I hope that someday I see myself in that position so my advise to everybody is start investing now before it is too late.
With bitcoin everything that could not possibly happen. The impossible can come true. Already many people who are still under 18 years already have a lot of money, they can buy a motorcycle from the work in bitcoin. So here we see that there is a bright future if we know the bitcoin. July 04, 2017, 08:43:38 AM
That is the good thing about doing it early and believing in your investment. What the kids did was smart on believing something new like Bitcoin in which he have risked plenty of money in order to gain. Believing on an investment is hard much more for something that is not tested or has been legally approve yet. But it paid off in the end in which right now he is a millionaire. I hope that someday I see myself in that position so my advise to everybody is start investing now before it is too late.
July 04, 2017, 08:37:25 AM
At $200 he would've paid $60k for 300 bitcoins. One smart kid nonetheless. I hope he uses it for good purpose.
July 04, 2017, 08:33:37 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?
Well to be honest Erik is one lucky kid, at the age of 12 he already invested on bitcoin but as you said when he is 18 he is now a millionaire. For I think that he did a right decision to invest on bitcoin, no one actually thought that bitcoin will be this big and this kid Erik, I believe that he did not expect it either that the coin he invested will hit the jackpot. Well for the one that you don't understand the answer is simple, DO NOT DROP OUT OF HIGH SCHOOL EVEN IF YOU'RE ALREADY MILLIONAIRE. Education is very important, same as the one that you explained he should have took the $100,000 and then he can buy new bitcoins which was ($200) at the time. Even with tax he can earn more and get more bitcoin when he took the $100K this is a mistake on his side, he should have asked his parents on what he can do and what are his options to it. He is still a kid, he has to learn more that's why you don't leave school just because your a millionaire look at those big CEO's in Facebook, Apple, and etc. they maybe a dropouts but they went back to school so that they can expand their knowledge. Becoming a millionaire doesn't mean you need to stop going to school, it means that you have the money to learn more and knowledge is the most important the money.
July 04, 2017, 03:35:08 AM
He made a quite good decision. He is now on the line of dropouts who became succesfull because of bitcoin. A trully inspiring that you should work smarter and what he does is a big gamble. Although success in life doesn't depend on degree sometimes, still having both money and degree is still better for me. He should continue despite of being a millionaire now.
July 04, 2017, 03:16:33 AM
I think its is a great news that he became millionaire because he wanted to success in investing and wants to become rich in bitcoin. He has a patience and dedicated to invest rather than go to school. Therefore even if he become millionaire he should go to school and continue his study because his dream and ambition to be rich is already fulfilled and become successful in investment. To become rich and success is not only finish the study but a hard work and determination into investment. This high school student is a good example who want to invest in bitcoin. Its only proves that a bitcoin is a good value and profitable.
July 04, 2017, 01:26:50 AM
The best thing regarding investing is being right at the right time, He invested that sum of money (which wasn't nothing for him) at the beginning of bitcoin and had accepted significant risk to this invested money and was rewarded with these millions,
Wondering if there are stories like these which are hidden among us in this forum?
Wondering if there are stories like these which are hidden among us in this forum?
July 04, 2017, 01:19:25 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?
This is the success of his effort, so good. He knows how to invest and utilize bitcoin resources in a timely manner. This is also a source of motivation for later bitcoin investors.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?
July 01, 2017, 07:48:15 AM
the education is every important, in the school starting to develop ability to communicate and educate your social mental ability.
all of this useful to your success in life.
all of this useful to your success in life.
June 30, 2017, 11:13:25 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?
Yes, even if I got a chance to choose between 60k dollars worth BTC and 100k dollars cash, I will choose BTC because it is really too much cumbersome to convert such huge amount to BTC. Will not be possible without spending around half of amount in tax and fees.
However, if someone fascinate from this kid story, don't forget new coins keep coming everyday and new coin means new opportunity. Invest wisely and who knows you may become millionaire tomorrow.
June 30, 2017, 10:19:03 AM
School is simply not for everyone. With the Internet, we can all learn everything that we need to know. Education is nothing but an illusion now. Go to school for 16 years, get a job, buy a mansion and settle down. That's what people are thinking about how education works. But it's not like that. The jobs that are available after school wouldn't make us wealthy. Most people go to school because they think that upon graduation, a good paying job is waiting for them. That's clearly not the case in this world anymore.
I, too, wouldn't recommend education. I'm in no way against education. I'm into trying to try out other choices available instead of just going to that "default" road. My parents are telling me to get an actual job but I'm just like, "Uhmm. No." because I know that earning bitcoin pays much better and that the price will skyrocket in the future.
You have your point.But i think it would be better if you are a degree holder and well qualified to all the jobs you aspire to work for.But if you are not that believer,i'm pretty sure you must be good with something else.After all the quality of your work and the enthusiasm and perseverance matters in the end.Success comes to those who eagerly work for it,with or without formal education.I, too, wouldn't recommend education. I'm in no way against education. I'm into trying to try out other choices available instead of just going to that "default" road. My parents are telling me to get an actual job but I'm just like, "Uhmm. No." because I know that earning bitcoin pays much better and that the price will skyrocket in the future.
So true. Success is not about finishing college and have a graduation picture laminated. Or having a huge house and lots of car. It is about what have you achieved or your influences, or about how you inspire people around you. And of course, still it is better to finish school so you would not end up on the street.
June 30, 2017, 09:49:58 AM
School is simply not for everyone. With the Internet, we can all learn everything that we need to know. Education is nothing but an illusion now. Go to school for 16 years, get a job, buy a mansion and settle down. That's what people are thinking about how education works. But it's not like that. The jobs that are available after school wouldn't make us wealthy. Most people go to school because they think that upon graduation, a good paying job is waiting for them. That's clearly not the case in this world anymore.
I, too, wouldn't recommend education. I'm in no way against education. I'm into trying to try out other choices available instead of just going to that "default" road. My parents are telling me to get an actual job but I'm just like, "Uhmm. No." because I know that earning bitcoin pays much better and that the price will skyrocket in the future.
You have your point.But i think it would be better if you are a degree holder and well qualified to all the jobs you aspire to work for.But if you are not that believer,i'm pretty sure you must be good with something else.After all the quality of your work and the enthusiasm and perseverance matters in the end.Success comes to those who eagerly work for it,with or without formal education. I, too, wouldn't recommend education. I'm in no way against education. I'm into trying to try out other choices available instead of just going to that "default" road. My parents are telling me to get an actual job but I'm just like, "Uhmm. No." because I know that earning bitcoin pays much better and that the price will skyrocket in the future.
June 30, 2017, 08:47:29 AM
School is simply not for everyone. With the Internet, we can all learn everything that we need to know. Education is nothing but an illusion now. Go to school for 16 years, get a job, buy a mansion and settle down. That's what people are thinking about how education works. But it's not like that. The jobs that are available after school wouldn't make us wealthy. Most people go to school because they think that upon graduation, a good paying job is waiting for them. That's clearly not the case in this world anymore.
I, too, wouldn't recommend education. I'm in no way against education. I'm into trying to try out other choices available instead of just going to that "default" road. My parents are telling me to get an actual job but I'm just like, "Uhmm. No." because I know that earning bitcoin pays much better and that the price will skyrocket in the future.
I, too, wouldn't recommend education. I'm in no way against education. I'm into trying to try out other choices available instead of just going to that "default" road. My parents are telling me to get an actual job but I'm just like, "Uhmm. No." because I know that earning bitcoin pays much better and that the price will skyrocket in the future.
June 30, 2017, 06:58:41 AM
It could've been me too - I knew about Bitcoin when it was $3 each lol
It is hard to believe that a 12-15-year-old kid has done that. There are many other aspects of his success, his country, parents, and supporters. Everyone may not have the fortune of him. Right now it's getting harder and harder to earn BTC without any investments.
June 29, 2017, 03:19:42 AM
Truly a great story (couldn't read the article though because a part of the link was removed by the forum, but what's posted here is enough I guess).
This shows the potential of making gigantic profit from anything if you were smart enough to get the highest worth of it at the right time, This "dropout" proved his investment ability and his intelligence by making the right investment..
This shows the potential of making gigantic profit from anything if you were smart enough to get the highest worth of it at the right time, This "dropout" proved his investment ability and his intelligence by making the right investment..
June 29, 2017, 03:18:06 AM
i salute the high school dropout because he/she spent the with in how to be a millionaire at the yung age.
education is important if guy don't like to go in the school use the money from btc. have school offering the home study.
to get an degree.
education is important if guy don't like to go in the school use the money from btc. have school offering the home study.
to get an degree.
May I know how much time you spend in bitcoin. Maximum two hours a day .I think not two hours a day spoils your education. Many students doing part time job for their studies.Like that ,If you spend two hours a days is quite enough for you became millionaire in future.For that you have save your bitcoin for longer.
June 29, 2017, 03:09:19 AM
It doesn't relly matter if you have a degree or not if you start your own business. In that sense, I applaud anyone who doesn't follow the usual boring path of getting a degree and working a 9to5 job. It takes guts and dedication to work on your own projects and make it into a profitable business. It is also way more rewarding than being employed.
Not to mention doing it with such a risky instrument as Bitcoin. A big applause to everyone on these forums for being here.
Not to mention doing it with such a risky instrument as Bitcoin. A big applause to everyone on these forums for being here.
June 29, 2017, 01:34:27 AM
i salute the high school dropout because he/she spent the with in how to be a millionaire at the yung age.
education is important if guy don't like to go in the school use the money from btc. have school offering the home study.
to get an degree.
education is important if guy don't like to go in the school use the money from btc. have school offering the home study.
to get an degree.
May I know how much time you spend in bitcoin. Maximum two hours a day .I think not two hours a day spoils your education. Many students doing part time job for their studies.Like that ,If you spend two hours a days is quite enough for you became millionaire in future.For that you have save your bitcoin for longer.
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