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Title: [2017-10-11] Man sells everything he has for Bitcoin Post by: laurenB7742 on October 11, 2017, 04:00:52 PM Personally I think this is not wise. He is taking a risk and he even involved his family. What if the bitcoin falls to 3 or even 2K USD, they won't be able to buy the house again. I think you should only invest your extra cash into bitcoin. Anyway, here is the article from Independent (http://www.independent.co.uk/news/world/europe/man-sells-everything-for-bitcoin-moves-family-to-campsite-a7994751.html):
Man sells everything he has for Bitcoin as he pre-empts the ‘ultimate cryptoboom' A man upped sticks, sold everything he had for Bitcoin and moved his family to a campsite after claiming that he is waiting for the next "boom" in cryptocurrencies. Didi Taihuttu, 39, moved his family to a campsite outside of Venlo in the Netherlands, after putting his house on the market along with other possessions including his car, motorbike, children's toys and other family consumables. Bitcoin and Blockchain, the technology behind the currency, eliminates the need for a third party such as a bank or building society to approve payments, as a network of computers keeps a record of all transactions. The Dutchman believes that the technology is transforming the role of banks in society - and that there is more to be made from the emerging currency. ... After struggling to pay his bills as his overall portfolio plunged he invested everything into Dogecoin, an emerging currency that, at first, did not perform well on the markets. "I've had a tremendous amount of it, but that coin was worth nothing. The portfolio that I had at the time was perhaps worth 200 euros," he told. However, during his travels he was advised to check in on his ailing currency shares – only to discover that the currency had soared to twenty times its previous worth. ... The property has reportedly been sold under reservation to a cryptocurrency trader for the price of 85 bitcoins - the equivalent of €300,000 (£269,000). Title: Re: [2017-10-11] Man sells everything he has for Bitcoin Post by: Kprawn on October 11, 2017, 04:25:59 PM He can either be the biggest fool on two legs or the smartest guy on this planet. If bitcoin see the same growth in a year as it
has seen since 2016, his €300,000 might double or even triple to €900,000 and he would be the hero of the family. I would never take a risk like this, because Bitcoin is still regarded as a high risk investment. The golden rule is always... " Never invest MORE than what you can afford to lose " :( |