Check out this interesting post. I do agree that you can learn anything from Youtube / Wikipedia / Google
http://www.cnbc.com/2017/06/20/bitcoin-millionair…
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Don't know much about cryptocurrencies, but expecting it to eventually get to a couple hundred thousand or even a million per coin sounds insane
Virtual money is the next big thing.
This doesn't apply to this kid necessarily, but if money weren't an object I would still probably want to go to college and study something interesting and have sexual intercourse with as many females as possible. And do drugs. Basically, I would be a complete degenerate while studying something interesting.
haha good points
MASSIVE
Best username on WSO, and well articulated ;) +1 SB
Peter Thiel must be jizzing in his pants at this guys story. Kudos to him for having balls and coming out on top.
Funny the kinds of risks you can take when you're literally a kid and have no financial obligations. Very interesting story no doubt and happy it turned in his favor, but the kids making similar speculative investments that ultimately lose go unreported. This guy just happened to have his lottery ticket hit.
Window View you're absolutely right. I think working a job and trying to take care of yourself with little to no outside support turns you into a more risk-averse person.
On a side note I know they've done studies on this but I wonder how a group of Kindergartners or 3rd Graders would do if asked to pick stocks to invest in? Would be cool to pair them with MBAs vs HF guys and see what the results are. I'm assuming the KG or 3rd Graders would be least risk-averse with MBAs and HFs being more.
I'd love to see some little kid come out and voice some elaborate strategy. I remember a few years ago one of the kids (maybe 5 or year year old ) who won mutton busting at the Houston rodeo said he wanted to work at a hedge fund when he grew up. I was proud of him and didn't even know him or his family.
I wanted to kill myself at first, but after seeing a picture of the guy, I'd still rather be me.
Can he make the money last though? I'm sure he'll be fine but it's not like he can retire off of this windfall
if not he can make a living off of producing daily inspirational quotes - just found his twitter via his reddit AMA.
He better be rubbing his bitcoins in that teacher's face now....as long as he doesn't lose it all on another risky investment.
remember when you were 18 and thought $1m was all the money you would ever need in life...
This kid thinks he's a hotshot because he gambled on something and won the lottery. I saw his Reddit AMA and he doesn't seem like he can string a couple of sentences together properly. Am not sold on his ability to continue to make a living.
You by chance got a link to the AMA? Interested to learn more about who I'm gambling against in Crypo.
https://www.reddit.com/r/IAmA/comments/6iw0b6/iama_high_school_drop_out…
"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."
That makes zero sense. Take the 100,000 and buy bitcoins vs. accepting 60,000 worth of bitcoins. I bet this kid is miserable to talk with.
taxes on the $100k @ 35% maybe more depending on state taxes.
Vs. 35% on $60,000...
could have been a situation where the buyer only had 300 coins and didn't want to deal with it anymore and just handed over the account login creds thus not triggering taxes? Have to ask this lil' punk.
Yeah was holding out for the kid, but appears he's a moron for not taking the cash and perhaps buying more bitcoin
Yet CNBC cheers him on. Guess math is not their forte.
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