Pages:
Author

Topic: who are the youngest bitcoin millionaires? (Read 3508 times)

sr. member
Activity: 434
Merit: 250
becoming a millionaire in the age of 19 and 20 I think is the luckiest thing on this planet

I don't think I would like that though. I was immature then and I don't think I would have handled my money well, especially at that age. I was undisciplined then.
sr. member
Activity: 434
Merit: 250
The bees brothers? Maybe?

Nope.  We are a long way from being  millionaires.   It didn't help that our first 200 bitcoins we gave to the the Pirate ($2000 at the time). Cry

They have also spent a fair amount of btc on things they need, their schooling supplies (we homeschool), and some of their activities.




Why did people who had BTC sell so early?  Didn't you all have jobs or careers that paid for your living expenses?


you know, hindsight is 20/20. not everyone thought bitcoin was going to explode as it did.
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
The bees brothers? Maybe?

Nope.  We are a long way from being  millionaires.   It didn't help that our first 200 bitcoins we gave to the the Pirate ($2000 at the time). Cry

They have also spent a fair amount of btc on things they need, their schooling supplies (we homeschool), and some of their activities.




Why did people who had BTC sell so early?  Didn't you all have jobs or careers that paid for your living expenses?


If everyone who was around in the early days foresaw what the price would end up doing, it would've been a million per coin by mid 2010.
sr. member
Activity: 457
Merit: 291
The bees brothers? Maybe?

Nope.  We are a long way from being  millionaires.   It didn't help that our first 200 bitcoins we gave to the the Pirate ($2000 at the time). Cry

They have also spent a fair amount of btc on things they need, their schooling supplies (we homeschool), and some of their activities.




Why did people who had BTC sell so early?  Didn't you all have jobs or careers that paid for your living expenses?


I have a job that pays my expenses, but the kids didn't. 

Sometimes you need to spend money to make money.  When the boys started Bees Brothers they made almost $100 that first year between the two of them and they were thrilled. That was their goal and they achieved it.   Then bitcoin happened....They increased their goal to purchase their own laptops and a couple other computers.  Then, mostly thanks to bitcoin, they built a commercial kitchen and paid it off entirely by the end of the year.  Now the kids have a job that pays their expenses.





hero member
Activity: 756
Merit: 506
The bees brothers? Maybe?

Nope.  We are a long way from being  millionaires.   It didn't help that our first 200 bitcoins we gave to the the Pirate ($2000 at the time). Cry

They have also spent a fair amount of btc on things they need, their schooling supplies (we homeschool), and some of their activities.




Why did people who had BTC sell so early?  Didn't you all have jobs or careers that paid for your living expenses?
legendary
Activity: 2422
Merit: 1451
Leading Crypto Sports Betting & Casino Platform
You guys strongly underestimate how few millionaires there are, in the first place.  

http://bitcoinrichlist.com/


Not everyone is keeping his entire bankroll in a single address.
sr. member
Activity: 457
Merit: 291
The bees brothers? Maybe?

Nope.  We are a long way from being  millionaires.   It didn't help that our first 200 bitcoins we gave to the the Pirate ($2000 at the time). Cry

They have also spent a fair amount of btc on things they need, their schooling supplies (we homeschool), and some of their activities.


legendary
Activity: 3038
Merit: 1660
lose: unfind ... loose: untight
You guys strongly underestimate how few millionaires there are, in the first place.  

http://bitcoinrichlist.com/

There's only 700 wallets with amounts over $1 million and 65 with amounts over $5 million.    Arguably, to be "YOLO", you need at least 10 million and there's even fewer of those wallets.

I think you have a fundamental misunderstanding. That is not a listing of wallets - it is a listing of addresses. Most wallets are made of multiple (even many) addresses. Further, many people have multiple wallets. You cannot make a determination of how many people have more than a $million in bitcoins from any listing of addresses.
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
There are actually probably lots of young millionaires because;
1. due to inflation a million fiat dollars is kinda worthless. To be in the top 1%, you'd actually have to have 10 million dollars.

Wow. You must move in some pretty lofty circles. I'm sure there are plenty of people in the firstest of first world countries who'll never have access to ten thousand dollars in their lifetime and would happily murder someone to get their hands on a million.
member
Activity: 145
Merit: 10
I prefer the word "bitcoinaire". This is undoubtedly the term the press will use, but they haven't yet. I have heard bitcoin millionaire several times however.
hero member
Activity: 756
Merit: 506
I offered to take women on vacation right after high school too... thankfully they all said no, it meant longer vacations for me.   Cheesy
full member
Activity: 168
Merit: 100
There are actually probably lots of young millionaires because;
1. due to inflation a million fiat dollars is kinda worthless. To be in the top 1%, you'd actually have to have 10 million dollars.
2. children, like this quoted poster often don't really comprehend money like adults do. They just do with money what adults tell them to. If adults tell them not to spend it, they don't spend it.
3. bitcoin is a technology and children often understand new, disruptive tech much better than adults because adults are stuck in the old paradigm and think of the new tech way of doing things as an "alternative" while children often see the advantages of tech and see that as the logical "normal" with the old way of doing things as the "alternative".

For example, look at all the innovators in silicon valley. All of the early ones were very young. Bill Gates made his first million while still in high school. If I remember correctly, he wrote some software to control traffic lights.

Also, to spend money as a child, you still have to have parental permission. Your parents have to pick up the package from the post office that you ordered because you do not drive a car. Even if you are lucky enough to be American so you can drive at age 16 instead of 21 or 25 in other places in the world (or if you're in an international class city with good public transportation like Hong Kong, London, etc), you'd still get a spanking if you didn't come home straight from school.

When I graduated high school, I had enough cash to buy a car because I couldn't spend any of my money. I blew all my money in a matter of months in college on girls. That's because I finally did not need parental permission to spend money. And I really enjoyed taking girls to Vegas and the Bahamas. Good times....

I bet there are some millionaires in mom's basement, teens who have BTC but don't know what to do with it.  Think about when you were younger, it would be hard to figur eout how to sell it, and do things like taxes, and your parents would be all over your case to figure out what BTC even is...

It would be a very disciplined teen to have held on since the early days. I'll bet an awful lot of coins were squandered or lost long before we reached today's price levels. It must be a sweet feeling if they did sit tight.

I started hoarding silver coins when I was seven. My grandpa taught me collect them from change. I didn't understand about inflation though till I was about 10 and didn't understand the why of inflation till I was about 12.

Another relative told me to save money in a bank earning about 3% interest. He put $5 in it for me. In about 5 years, it was only about $5.79. I noticed that the price of a candy bar had gone from 5 pennies to 25 pennies. It was then that I realized that saving money in the bank was a really bad idea. Only saved silver after that. I had over $300 in silver coins by the time I was 18. Sold most of them around $40 an ounce around 1979 just before the Hunt Brother fiasco. My parents needed the money to save their home.

I was upset that they never paid me back, but just let it go. Over 30 years later though, they gave me a piece of property in Hawaii with a cabin on it. So I guess saving that silver paid off in the long run after all.
member
Activity: 76
Merit: 10
Don't know who is the youngest but If there is any 19's that own over a million $ worth of bitcoins, I doubt they know where to put those money right but most of them would get a finance planner maybe. But with no experience there is almost no way to prevent from big mistakes , so you have to learn It the hard way.
hero member
Activity: 756
Merit: 506
You guys strongly underestimate how few millionaires there are, in the first place.  

http://bitcoinrichlist.com/

There's only 700 wallets with amounts over $1 million and 65 with amounts over $5 million.    Arguably, to be "YOLO", you need at least 10 million and there's even fewer of those wallets.

Some of those wallets belong to exchanges.  I know the whales also split up their wallets to prevent hack thefts.  Still - while no one knows for sure - the amount of genuine millionaires from Bitcoin is likely only a small handful of people (10 to 20 early birds back in 2009).   Bitcoin honestly has to hit $10K if you want millionaire stories to be common here.
member
Activity: 124
Merit: 10
Let's make a change from calling our wealthy brethren "Bitcoin Millionaires" to "Bitcoin Barons"
full member
Activity: 164
Merit: 100
Indie Developer
Know that it is not poverty that enslaves you, but your belief in their system, the system with which they control you. Our collective belief in capitalism is what makes us, collectively, slaves.

Technically, the current system is not capitalism... rather a mix of social liberalism and corporatism (you can lookup the definition of the words). I get your point though. Everyone actually trying to pay the mortgage and bills on time is indeed a slave.

But if you're really against capitalism, I doubt you find Bitcoin very useful.
full member
Activity: 164
Merit: 100
Indie Developer
While I haven't been around the block for that long on this planet I know that I wouldn't blow through my money on crack and hookers with I became a massively wealthy.

You mean you haven't been around the blockchain for that long? Wink
sr. member
Activity: 336
Merit: 250
MTA, ACA
well im 15 (16 in a month) so i mean if everyone on the forum can donate a bitcoin to me il gladly share how it feels to be a teenage millionaire lol
sr. member
Activity: 434
Merit: 250
There is no way anyone will verify who the youngest btc millionaire will be. Ask yourself, if you're young and that rich, why would you flaunt your wealth? Part of holding btc is the semi-anonymity.

well, if you're young, there are higher chances that you are dumb. it wouldn't be outrageous to see a young person go baller status.
Pages:
Jump to: