Bitcoin Forum

http://www.independent.co.uk/news/world/europe/man-sells-everything-for-bitcoin-moves-family-to-campsite-a7994751.html

What do you think? Would you do the same thing? Do you think in the future he will be a rich man?

What he did was completely and utterly stupid. Even possibly dragging his family down and significantly risking their future with him if things went completely south. He took a huge risk and won as he was lucky; a lucky idiot, that is. Congratulations to him though, I just hope he doesn't pull off a similar idiotic move in the future.

Do I think he will be a rich man in the future? Definitely not if he continues to take these huge gambles.

If bitcoin is $400-$1000 a piece then hell yes, but if it's sitting where we are right now, I probably would think thrice first before making a gamble that could potentially render me and my family homeless for the next coming months/years until my investment reap profits. What he did wasn't anywhere near admirable but rather dumb to risk everything on an asset that could flop within the next day or two. Others call it bravery, but I call it stupidity to bet all in and not set something aside for themselves.

even I'm a believer of this coin project/system I wont do that to my family maybe I will continue a life and invest part of my savings into bitcoin but never on earth that I will do risking my families faith inside this investment, crypto still have its downside and there's still a big possibilities that things will be go on the other side. but lets hope for him and pray for his family.

Great idea to gamble it all on btc when it's reaching all time high's  ::)

I hope it works out for him though.

That's such a terrible move made by that man, you will live in a tent and you will sell your house for bitcoin and wait till there is another boom? Are you kidding me? You could have just taken a loan from bank or something, you don't have to sell your house for that. A wise person never does such a thing. Grow up and start making smart decisions, Mr. Dumbass of all time.

Well, I would not have done what he did because he is taking a risk. I did put a few thousand dollars into Bitcoin a few years ago but it was disposable income that I could risk. I wouldn't put any family money into it because it is still a risky investment. Bitcoin will most likely succeed but there is no guarantee that something bad won't happen like a government ban. We also all risk getting hacked at some point and losing it all. Also if I were to die, I don't know if my family would know what to do with my Bitcoins or if they would even try to recover them. It's just too risky to sell everything for Bitcoins.

As much as I have great confidence in crypto, I will not sell everything I have and leave my family homeless.

Perhaps if I am single, I might be doing the same. But I have responsibilities toward my family, hence making them suffer for 5 years is not the right thing to do.

Read the article. He didn't get in at an all time high. He got in at a reasonable price, at around $4100.

"His property has been sold to a cryptocurrency trader under reservation and fetched him 85 bitcoins which equals a whopping  €300,000 or £269,000."

€300,000 = $354,639

354,639 / 85 = $4172 per bitcoin

He is probably a legendary member here   ;D

I have confidence in Crypto but going all in with everything including your house is madness. Downsizing your house and spending the rest on bitcoin would have been less of a risk.

He is such an extreme guy. I believe in diversifying, he believes in all-or-nothing. I would personally not do it, because hey, it's not just me but a wife and three kids we are talking about here. Being brave and having the guts to strongly decide is one thing, but putting everything else in risk is also another. I do weight the pros and cons of investing even in a small amount, what more when I invest everything to it. Many thinking, slow planning, assesing the risks, making timelines.  I hope he has plans until when is he going to wait for the "boom" he is talking about.

And if he does get the profit he is looking forward to, will he sell all of his bitcoin then? Cause doing so will surely affect bitcoin price after.

you know what, i believe in bitcoin, i also love it and all but. I would NEVER ever do something so stupid like what he did. Damn! I would beat hik up into a pulp if it so hapoened that his wife was my sister! Freaking dumbass put my sister and her children's life at risk just so he can gamble with this. It is true that you have to jump to bs able to fly, but this is just too much. He is either dumb or a heartless selfish son of a b*tch. This isn't bravery. This is pure stupidity.

He wasn't being responsible for the risks took just for mere profits, i would rather stick with basic needs, a fine job while playing bitcoins. This is madness, i hope there is less people trying to all-in in crypto, it just disastrous to see a family breaking down just because of bitcoins, imaging the suffering their family has to bear for 10x return these years.

Well when you're investing the biggest winners take a lot of calculated risks.  This was a HUGE risk and lucky for him it paid off, I wouldn't call it smart investing but I would have done the same with the confidence I had in the market back in July.  Too bad when I went all in I didn't have all that much to invest.

That guy is just crazy. He is definitely upset because he apparently had a great chance and throw itall away when he initially sold his coins. He then made another mistake on Doge, and he is still trying to get something out of it. Bitcoins should rise, so he will probably do well, but he is putting is family through so much pressure that this makes no sense, even if he succeeds. He should invest but not like this. This guy is a gambler, and has serious gambling problems, he should get professional help.

In all honesty, his bet migt come to fruition...but that is a massive blow dealt to his short term hapiness for something that is slowly rising...unless he's comfortable holding it somewhere that guarantees interest.

He's lucky bitcoin has pumped this week, maybe he already anticipated it due to the upcoming btg fork, after fork btc will surely have a price correction. wise decision for him though!

Though he has make a very highly risk decisions but I prayed he achieve what he hoped for before taking this great decision. BITCOIN is going to make him rich and I believe if he has a good family they are going to seriously appreciate him. few people has a strong mind to take that kind of decision and I believe his children will thank him in future based on this decision he has taking.

This is cruel. Even if one bitcoin reach to $100,000 I will still say that he is an idiot I've ever heard of. Money is not everything in life we need to understand the fact about money that it has a specific role in one's life. If this man become billionaire after two or three years he will still miss this part of his life and if not him his kids will definitely miss this stage in life which their own father snatched from them. He is damaging the childhood of his kids and they will suffer it the whole life.

It's very risky for investment & even stupid, i will never do someting like that even if bitcoin reach over 100.000$ i will never something like who risked the whole family just for the money.

I would suggest no point in examining such things because ideally you should never be doing any such things like going all in. Its not at an suggestive method by any top billionaire in the world and nor any one would recommend it. You should always be sensible to identify the opportunity and diversify your risk to build a portfolio of many different financial instruments.

He is risking everything for bitcoin. Well good luck to him I hope it will turn out according to his plan.

Yeah his move is too risky to do that all of his things is being now depend on bitcoin.If im in that position maybe i would think of my family's happiness rather than investing all of his things in bitcoin,he should not sale all his things because his family suffer from his action.

Totally disagree with his decision because family is very important thing to take care about if i were him i will sold 50 % of total assets and the remaining 50 % will support basic needs for the family and coming bitcoin move need time to reach next step . 

dragging your family to this sort of thing is really unthinkable.
they always say that in cryptocurrency you must only invest what you can let go.
gain or not he mustn't have done such thing.
he is not only endangering his self but his family as well.
:(

Selling everything in exchange for bitcoin is a very risky move. Not only did he drag his family into such corner, but also their future. No one knows when this 'next boom' in cryptocurrencies is. It may happen tomorrow maybe never. If it does happen soon then I'm glad for his family but if not, then I feel sorry for them. Nonetheless, I don't think it was a nice move.