Bitcoin Forum

......

Pretty strong balls. Hold them.

The wise also learn from lectures.

Also, are your parents in on this or are you hiding it from them?  (Hiding stuff usually turns out bad no matter how good it is.)

But yeah, kid, I think that you have an 80%-90% chance of having $120,000 or more in a couple years from the approximately $4200 you invested.  Of course, there's a 10%-20% chance that you could lose the $4200, but that seems less likely every day.

No lecture here. I am bullish and have invested a considerable amount in BTC.

However, no one can tell you if you did good (well).  In life, you just have to find out.

You seemed to have trusted your instincts and I think trusting your instincts is the way to go, but that's just my opinion.

Also you are willing to risk. Which means you are willing to learn. Even if it turns out to be a mistake or the wrong choice.

Welcome to bitcoin land though. Hope you enjoy the ride.

I'd be curious how being 13 you were able to withdraw from your bank account and buy the bitcoins. I think you will probably be fine, but still- depending on how you GOT them, you might have a lot of explaining to do when you try to cash them out eventually.

In the long run it may very well have been a good investment. I would recommend any (adult) friend to consider buying right now.

Since you are a minor, lectures are not optional:

[lecture]
You should have convinced your parents instead of doing it behind their backs. Would I have been your dad, I would have been mad and proud at the same time. These kinds of decisions are for adults. Period.
[/lecture]

By "hope you enjoy the ride" he means, "Hold on for dear life and don't listen to anyone here". :-)

I think you made a good decision. You did research on it and dare to take some risk. Impressive for someone for someone of your age. 12 BTC is an amount that could make you very rich if Bitcoin is really gonna take off. Wise of you to don't trade and just buy and hold. Although maybe you find it intresting to observe the market behavior and learn from some guys here? I hope you do because it can be very usefull for you in the future. Welcome to Bitcoin!

By the way, I hope you keep them in a wallet across multiple SD cards! Not in Goxx

How did you manage to do that?

Time will show if you are the best son ever or the worst. But I believe that if you have a good trading plan you will be fine.

He has the *best* trading plan - buy and hold!

When I start hearing stories like this emerging, I can't help but think the market has risen too high.

good for you, at 21 I could have invested in Microsoft (1990). Someone told me about it, but instead I wasted money on smoking pot. I don't think the pot was even that great....

I wouldn't count on 1 million any time soon, but I'd say your odds of making money are very good if you can hold for a couple of years or more. It's amazing to hear you consider yourself a capitalist at only 13 years old. Hopefully more youth is waking up now days thanks to the internet. That is really great to hear. Good luck and don't tell you parents, that's probably a bad idea lol.

if the price were still 100 dollars i would say heck yes. at 400 dollars I'm worried for you. though this newest price increase does feel more natural than the rallies that preceded it, the way it has leveled off and is holding steady is a good sign that this rally is the product of fundamentals more so than greed.

when you start to feel scared just remember that (basically) every single person who ever bought at an all time high before today has made money.

Have you discovered the joys of masturbation yet?

It would be better to transfer them to a paper wallet and keep copies of it in a safe places. USB sticks may become unreadable over time. This is not proved, however, the opposite is not proved too.

You may as well print your private key, usb sticks should not be used to store data many years securely




You really have balls  :D

+1

Or until the quarterly account statement pops through their letter box.

Honestly, I think it wasn't a smart thing to use your future college money for that without the consent of your parents. I am superbullish on bitcoin and I believe it holds a bright future, but many things can happen and there is always a real possibility your bitcoins will become worthless. What will you do if suddenly your college fund becomes worthless? There's a reason why many people advise others not to invest more than you can afford to lose. Can you afford to lose this? I'm not sure how rich your parents are, but I'm sure they won't be too pleased when they find out. Oh well either way it will be a good life lesson for you to learn, I have to admit that if I was 13 and learned about bitcoin I would probably try to scramble for money everywhere to buy some. :P I wouldn't have gone all in at the current price though, I would have bought my bitcoins slowly over the course of several months to make sure I didn't go all in at the top of this huge rally.

This. I thought most college funds weren't touch-able until you hit a certain age...



On bitcoin price rises: I'm personally bearish and think this recent pop-up over $300 will come crashing down soon. We'll probably see the price consistently rise in the next year though, but I'm not sure about the next 5. Best of luck to you.


On college: If you plan to become some kind of business hot-shot, having a degree in hand gives you a huge leg up. Even if its only for networking opportunities. Just my 2 satoshis. Also, just don't go majoring in liberal arts or some crap that won't actually get you hired.

I'd advocate for telling your parents now, I'm much older but I've convinced my parents to invest in to bitcoin.

I just don't see your parents liking the dishonesty. But I do understand that you're trying to be apart of a seemingly undergoing revolution of the ways we spend, store and buy.

college isnt like the school you are in now at least not in most ppls experience.  try it ev3n if u become btc millionaire!  Very few end up not liking it... now all school is is classes, but in college the rest of the time is hanging w your friends.  and if that still doesnt sound fun to you then trust me by 18 or so kids actually start to grow up and college is so big you'll find friends and never see the assh0les...  its like 4 yrs with friends and without any parents :-)

Yeah, I hated junior high, but I loved high school and college.  My younger daughter hates junior high right now, but my older daughter loves high school.

At least you didn't buy a $12000 wizard hat.

But jebus, I wish I had a college fund worth that much when I was 13.

How much you want for them? in btc?

Just protect the private key.  Last thing you want is to lose the coins based on inability to move them.

Based on your writing and words you don't look 13 to me.

All i can say is hold on to those bitcoins. And don't gamble them. That would be a terrible idea. :P

Resist the urge to liquidate and you'll be fine.

i'm beginning to think we are getting trolled too now.

Damn, kid, when I was 13 I didn't know half the words in that sentence...
You've got balls AND brains.
Go long.

But as others have said, be careful not to go all in. As bullish as I am, Bitcoin is still a speculative investment and you should keep some reserves in stinky fiat.

Then you contradict yourself. You say that you like to read books. Your motivation to invest in bitcoins shows that you not only like to read books but you analyse what you read as well. Then you should know that the education is a very good investment.

In case you are not trolling...

Wow, you are my hero! :)

School sucks, later on people just get better at fooling themselves.

Sorry your parents are socialists :/

You will make it big.

Where do I start?

Nah, never mind.

Love it.

You don't need to go to college to become educated. I've been to college for a couple years, got fed up with the system and decided I'm a much better autodidact and can learn everything I need to learn on my own.

why? so you can earn loads of money!

I agree with what you didn't say... I've spent the last decade in academia, only to realize that PhDs aren't really worth the paper they're printed on  ;)

You have some serious balls for a 13 year old :-)

I sincerely hope this works well for you.  Good luck.

he's gotta start trying to be like an adult sometime ;)
might as well be with Bitcoin!

cheers to you, my friend. my humble slip of advice, think for yourself, think things through to an end, and develop this tendency as soon as you can.

This is more important than you probably realize.  Remember this when you're about to drop the bucks to attend a fancy college.

You are 13 and have a few years so you need to plan for the possibility that bitcoin prices could crash.

I am uber bullish but you need to only invest would you can afford to lose. A college education is not something you should risk losing.

If you keep your money in bitcoins be sure to work hard in school and make sure that even if you have no money for college that you
can qualify for scholarships because of your good grades.

Then keep in mind that you will never have so much free time to read books after you enter the 'adult' life as you have now. But keep reading.

Unbelievable.

Just had to bluntly correct that.

The key here is that this is a college fund and the OP is 13 so we are looking at a hold of 5 years before the funds are spent. The choice the OP makes in going to college or not is irrelevant. What really matters here is the 5 year time to hold the BTC. Now let me make this clear I believe there is a very good chance that the BTC/USD rate will drop by 50% or more is the next days or weeks; however I also believe that there is an even greater chance that the BTC/USD rate would be over 10,000 and possibly over 100,000 by the time the OP reaches age 18.

So the downside is that an 18 year old is short 4200 USD. 4200 USD is a drop in the bucket towards a college education and most 18 year olds can easily earn that kind of money in a job over a few months. The upside on the other hand is that the 12 BTC would be worth 1.2 million USD. Not only is this more than enough to pay for a college education and medical or legal school but  the OP will have a fair amount of funds left over to help his parents should they get into financial trouble in an economic collapse.

From a financial point of view I consider this a sound decision but only if the OP keeps these funds in BTC until the OP's 18th birthday

Should the OP have asked permission from his parents? On the surface the answer may be yes; however this is a situation where asking for forgiveness after the fact makes more sense than seeking permission beforehand. I am 56 years old I must say this is a situation where I find myself trusting the judgement of a 13 year old, the OP, over that of someone in their 30s or 40s, the parents. Why because a 13 year old has nothing invested in the current economic system, while the parents are likely at the stage in their lives where they have the most invested in the current economic system. We most also remember that the parents made the choice of providing exclusive signing authority over the account to the OP. The key here is that both the OP and the parents must be prepared to take full responsibility for their actions regardless of the outcome and respect each other views on the matter even if they disagree.

Heh

You'd be surprised.

You should get perma-banned for this.

Maybe this kid will become more famous than the guy who bought a pizza for 10,000 BTC. But this time in a positive way!

+1

Now, secure your computer and your wallet before you lost it to trojans :)

It seems you haven't discovered the joys of masturbation yet. :(

Sorry to break this but it seems we're gonna crash... upwards

I don't think you are responsible to say these to a 13 years old young man. It's not funny. Money is not the only thing in one's life. It will be dangerous for a young man to think he can do anything without hard working after being rich, IMHO.

My CFD shorts just got stopped out. I have a funny feeling that our 13 year old OP may not only have made the right long term call but also the right short term call.

Go to college, a relevant one and a fun one!!! trust me college is worth it a lot more when you don't have to worry about tuition etc and what you have to be in order to "get a job" in "the real world" :)

you'll meet the greatest people ever, people who'll be there for you the rest of your life if you let them. At the same time you will learn a lot about yourself and what you could be doing to be an Agent of the Singularity one day ;)

i think this is a wise choice if done property however you are choosing the non conventional path as such it will be the harder path. consequently you do not have the option of waiting around for your future to come to you. If you chose this path you MUST become an adult now, today, not tomorrow, you have to start building real skills with real value granting yourself real human capital. If you aren't ready to crack down and start building real human capital today, if you just want to joke around and play yu-gi-oh with your friends and wait for the future to come to you, than you should probably not be trying to break the mold, you should probably just go to college. That is the cost, but the benefit is that when you are grown and your friends are all miserable cogs in the machine you will be ruling the world (in a metaphorical sense of course libertarians don't rule things other than themselves).

also another thing i think is important and i don't think you will ever hear it from another adult anywhere. if this is really the life you want than good grades offer you literally no utility. as such every single point above 70 is energy and effort wasted, energy and effort that could have been used to build real human capital. if this is the path you want, than all things being equal, you shouldn't be putting any effort into making good grades. however THIS ONLY APPLIES IF you are 100% dedicated to this path. if there is any hesitation, any laziness, any lack of discipline, any yu-gi-oh playing (other than maybe an hour a day or something, every human needs SOME brakes), than you better not ruin your future by flunking out of high school for no reason.

anyway this is an off topic rant i know, but i think its important because you Aren't going to find very many adults who support a decision like that, so since you happened to stumble across one i thought i should speak up.

Schools are prisons for many children. I don't think you are responsible putting your kids there if they prefer not to go. A free healthy man does not need to go to college. He can follow his passion and creates his own job. This young man is doing exactly that yet many here come with school and college propaganda. Also note that he asked no lectures...

encrypt the wallet and keep 2 copies ;)

forget everything else and remember this. Try to follow and at least explore every opportunity you're given. Whether that be college or Bitcoin, traveling the world or with love. Every opportunity. An entrepreneur finds opportunities where others don't and/or won't.

This is what life is for.

just make sure you don't loss them some how

I will stay with my recommendation to not sell a single satoshi until your 18th birthday, even if the price rises to 10,000 USD or even 1,000,000 USD beforehand.

Edit: If you need to move your funds to a different wallet and spend some transaction fees in the process just use some USD to buy BTC to cover the transaction fees.

It depends. To one who is not worrying his future job hunting, college (not a primary school or a high school) is definitely not a prison. He can learn what he really wants to learn. Besides there's nowhere else can one meet so many peers and make real friends. This has nothing to do with whether he will look for a job or creates his own job. Pressure of living in a college is much lower than spin off a start-up company.

Moreover, everyone here expresses his own opinion only. No one is giving lectures.  

at that point he won't have to sell back to fiat :)

It seems he's 13!

Make sure you keep plenty of backups in a variety of mediums, and that you keep those backups safe.  I wouldn't trust usb sticks, they tend to quit working unexpectedly.  A paper wallet might be better if you have a good place to store it.

If I was your age, I'd be worried about my family accidentally overwriting my usb drives or throwing out my paper wallets...

Good one man.

noob2001, everything about the financial aspect of your decision has already been discussed, but I feel a very important point is overlooked: You made the assumption your parents would never find out.

They will.

You can tell them what you have done, explaining with due detail your motivations, or you can let them find out by themselves that their son does not love them enough to share with them what he expects from life.

It's your choice.

Just 2? I've got backups in 8 different places.

Lots of people saying hold no matter how high the price goes. Don't forget to hold when the price goes down, which if you bought them recently it's very likely to.

If you look at the charts for May-June 2011, bitcoin reached $30 at one point, and then crashed $2-4 for a long time. Basically it was low long enough for a lot of people to cut their losses at a low price. It takes so long if your watching it, the temptation to try and trade is very high. Basically it often takes so long that you really think there is no chance it will ever happen.

Personally I will be very surprised if you don't lose in the next couple of months, at least temporarily.

Hold them, in a safe way, like paper wallet, with multiple copy.. Strive to survive without cashing those BTC.. If needed, get a job or two.. Keep those as long as possible.. They should be valued much more than in your best dream.. You may be fiat millionaire within a decade, and at this time, I bet you will prefer to spend BTC than convert them to a million of worthless paper bills ;)

You have balls, and I would have done the same !

Keep them as long as possible, in a safe manner !

Maybe you'll never need to be slave to a job for the rest of your life, anf this within 5 years IMO :)

Reading this thread has really kind of made me cringe. Now I suppose most people would just say I am defending my own decision to go to (an expensive public) university, but I've set myself aside.

While school truly does suck, you would be surprised by how much better it does get. And while this fantastic resource called the internet does greatly aide in learning on your own, I have encountered numerous homeschooled and self-taught students during my time at school and none of them seem nearly as adept as their peers. Working alone and learning that way is a fantastic foundation for your continued education, but spending the time and money to go to a real college is worth MUCH more than the cost of tuition, books and living. It means job security if BTC ever does crash. It means learning about something which truly interests you. It means meeting new people and spending time with people that, odds are, you will stay in touch with for the rest of your life.

Sitting here and typing now... When I graduate with my B.S. in Computer Engineering, Even if BTC are high enough for me to live the rest of my life not working a day, I will get a job. Because what I am learning about right now is something I have wanted to be a part of since I was little. And no amount of money could get me to say, "I no longer have an interest in how IC's fundamentally work, and how they run the world, and how I can create and implement them to help me and everyone I know."

So I guess I should probably say that my BTC exposure is quite a bit larger than yours, and I have a similar approach to just wait it out (while also increasing my BTC holdings), but my mom (parents are divorced) knows all about it. She knows my initial USD investment, and my current holdings, and is pretty up to date on their USD valuation (like that means anything).

So while you're spending your time reading, and thinking of traveling world, find something you're really interested in and decide to learn about that. I'm willing to bet that once you spend more time learning about something you really love, you would never just give it up.

Oh, and it's probably a good idea to tell your parents. Online account or not, they will get a monthly, or quarterly, or biannual or annual statement and they will wonder where the hell $4K+ went.

Ps. Don't say "$4k isn't a lot of money" unless you can, on a whim, come up with that much money yourself.

@OP - Fantastic job there bro, you'r secure now for your life :) Do what you want, never care about what society will think. You have perfect thought process at present.

@ Rest Members - Im 21 and have $3000 of savings from working for a year. I just heard about Bitcoins a week ago and have been addicted since then and I am waiting for a price to buy 5 BTC for <$1500 and 40 LiteCoins for $150.
But the thing is I've been lusting for a sports bike since 6 months that's going to be launched in Feb 14' and would cost $4000. So what do you guys suggest, I spend my whole $3000 for 10 BTCs and keep the bike on hold for another 6 months or get 5 BTC + LTC for now and buy the bike too ?

+millions

I am remarkably like  you Chance :)


Also, tidbit from experience, I got my mom (parents divorced) involved. I got a lot more capital from her than the $2k tuition refund check (see school does have its benefits, you can take out dirty fiat loans for really cheap!) alone could've afforded me in Bitcoins.

@OP: While it the statement above is truth to some extent, you should not take it as a rule of your life: you never know where you have to come back in the future.

I've wanted a motorcycle since HS, and had enough at the end of freshman year of college to buy one. I bought bitcoins instead. I have a motorcycle now. And bitcoins.

It would be pretty funny if they find out tonight, make him cash it out, and he gives them back $800 extra :D

Ballsy, I like it. I didn't let my mom cash me out either.

Thanks for the advice mates, let's go all $3000 in to trap those 10 BTC once price drops below $300.

If you really want to blow away Mom and Dad, wait until you have doubled your value then withdraw your original investment. At that point you will have no downside exposure. No matter what the price does, you can't lose.

Now major in economics and write up your experience for grades.  ;D

MIT will probably take you if you have a good story (http://www.imdb.com/title/tt0478087/) :p

Never put all your eggs in one basket.

I don't want to see this held up as poster boy for the media in a campaign as to why coins must be confiscated and regulated.

Kid, I would have done the same thing when I was 13, except I had no idea what Austrian economics was, and I was dialing up on a 56k modem.

Not endorsing you using your college funds to make a (relatively smart) gamble. But I think you're certainly ahead of the curve, and whether or not this works out for you, don't ever stop taking calculated risks. And DON'T PANIC SELL!!! This is a volatile market, price will rebound.

Another option is if you start feeling any guilt, wait until you've doubled your money, then pay back your college fun, and you'll have "free" money to let you "start over" with your initial investment. :)

The coins or the balls??

You've done good OP.

There you go.

   You've done nothing wrong. If your parents made it possible for you to get this much access to the account then you are fine.

  College is a classic ponzi scheme. It only continues to function because of all the lackeys from peripheral countries like Morocco, Mexico, Thailand, etc. who prop up the extremely limited and questionable ideal of objectivity and the scientific method of the Western Roman Catholic tradition turned secular in exchange for a salary and some letters next to their name.

      That being said, I did make a lot of great friends and learn a lot in college. Also turns out a lot of people who I thought were my friends weren't as soon as I changed my ideological foundation to make it incompatible with theirs. I learned at least as much traveling the world as I did studying, and college enabled me to travel a lot due to grants. I also took out loans, but I regret it now and wish I didn't have any debt, although dollar denominated debt is now almost like an asset.

       In any case, I am just saying after studying ethnography and anthropology, any of the traditions of education worldwide are legitimate means of learning. If you decide to learn traditional chinese medicine from an old man in a chinatown in Sydney and never get a certificate, that is just as valid as a degree in nursing from a US university if you can help people with it- salary doesn't matter.The real reason people shell out the extra cash to go to Harvard or Oxford is not because the quality of the education you get there- it's because of the connections you make. You will meet and develop friendships with people who will be leaders in politics and business, and you can use those connections later. Of course, I wouldn't recommend it because the system is already corrupt and isn't getting any better.

If you are fulfilled by your job and grateful for your 800 bucks a month, you are better off than making 5k a month and forcing yourself to go to work every day. When you travel you will see that people live on less than 1 dollar a day and are happier and healthier than many wall street execs.

    I wouldn't recommend masturbating. If you want to travel, I recommend finding a girl who wants to do the same and getting married as soon as you can. Trust me, I had a son at 23, and I regret not doing it earlier- don't listen to anyone who tells you that sleeping with a lot of girls is something to strive after- you will never be satisfied and you will always be going after prettier girls... anyway this is turning into a lecture so I'll just quit for now.

   I remember what its like to be 13 and it is good to have validation from older people. I also had people not believe that my writings were mine because they didn't think a 13 year old could have written them. You are doing good, keep it up.

Just keep it safe.. or it won't be worth anything!!!

Hold, hold hold. I think in 7-10 years you should have enough wealth to go to any college you like, or start a business and have enough mmoney to get it up and running properly.

Wow at 13 this kid discovers bitcoin , when I was 13 the only thing I discovered was masturbation.

He is not. Fake! 13 bitcoins are 5200$. Which parents allow their kid to withdraw the college fonds and invest all that money in a high risk investment?
-> haha

PS: I am now 5 years old. Two years ago I started mining and had 10-20% of the network power. ladida

I call bullshit and here's why,

1. Call yourself noob2001 because the "year of your birth" apparently makes you sound 13
2. You pulled out the college funds your parents supplied you with. Why did your parents give your account permissions to do that?
3. You brought 12 btc without even knowing whether or not that's a good thing?
4. You spend your time here posing as naive when all you want is attention (username: noob).
5. Your fake as fuck and probably laughing your ass off at the idiots who actually believe you.

You're an over-30 old man posing as a kid only for attention and the odd possible donation. Find a better scam, one that involves photoshop and a screenshot of multiple just-dice entries.

"Hello, I'm 13 and i'm a convinced capitalist."

What's the link between your parents being "socialists" (such a demeaned word), and their inability to understand this choice or bitcoins ?

Someone in this thread advised you to explore each opportunity, and I bet you agree with him, because you want to travel and do things.

I like you. You seem curious, mean, mature and to have big balls for your alleged age, but please let yourself opportunities to think and evolve ideologically. The field is so huge and diverse, that you can not see the big picture at your age (+ you miss living shaping experiences).

Judging by your use of the "socialist" term, and your certainty, I think it might be usefull.
Economic lecture is good, but don't forget politics, philosophy, sociology and history (and not only authored by people you already know or like).
You won't agree with all you read, but it will definitely enhance your comprehension abilities, and help you define yourself on your own.

You are obviously a smart kid, but you did an irresponsible thing.  If your parents find out you used their hard-earned money to bet on a highly speculative asset, they will be FURIOUS.  
I think you realize this, and thats why you started this thread, in which you only want to hear "good job kid" "smartest choice of your life" etc., so you can feel good about your choice and hide away the doubt and uncertainty.  Be honest to yourself and admit this.  If you only wanted the honest opinion of other people around you, you wouldn't have added " no lectures please".  You are just here to make yourself feel good.

Now about the choice to buy BTC, that may or may not be the smartest choice of your life.  I, like most people here am very bullish on bitcoin, so its entirely possible that this bet pays off very nicely.  The reason why so many posters are patting you on the back is because they feel certain that bitcoin will rise, so they believe strongly that you made a good move.  But realize that you are in the speculation subforum of an asset with huge volatility.  The people here (myself included) have a huge risk-tolerance, and a lot of them probably like gambling.  Thus you should take into account that what somebody here considers to be  "normal" risk-taking, does not correspond to what the average person believes is "normal".

I sympathize with the dilemma of being a young person without (significant) money of your own, and seeing an opportunity like this (or what we believe to be a huge opportunity), knowing your parents wouldn't go along with it.  You definitely have balls, I'll give you that.  
But the responsible thing to do imho would be to go wash cars, mow lawns etc., and use that money to buy bitcoin (although I understand that you couldn't raise a large amount of money quickly that way).  At the very least start earning some money that way to repay your parents if the bitcoin bet goes wrong.

dont brag about it too much in front of your friends etc. just say you like idea and you only have few satoshis. as bitcoin grows in popularity the masses will end up holding dollars which are losing value. by knowing that a 13yo kid got large sums will attract danger to you and your parents. take care!

That is a good plan, BTC is better then going to college if you know what you are doing....

LOL

30 is considered old now?

Last I heard, the average age for Bitcoiners was over 30.

I guess that makes me geriatric at the age of 65, and I could still have 30 years left.

Let me guess? You're not old enough to vote or drink yet, right?

learn from mistakes. your thinking is wrong. when a trade goes against you you get out and cut your losses. you can always buy back in.

this is a fake account, you'er not fooling anyone, Nice sig.

I started investing when I was 10, ran my own account, and have had it ever since.

I support you OP, not everyone can do it, but you made your way here, and you bought into the best investment of an era. Stick around.

I think he meant "you're an over 30-year-old man". Not, 30-year-old OLD man.

But I agree, I think this is just a ruse by the OP. Probably the only person laughing more than me at all these earnest comments is the OP himself.

OP +1.  :)

at this point you're just gloating. nice troll +1  ;D

Have fun holding the bag kid.

FTFY

buying drugs and getting high will not make you happy, it might make you forget you are missable for a moment.

clean yourself up, the worst of us can be redeemed! i believe in you fleabag you can do it!

love it or leave it you piece of garbage.

I cant i love drugs.

Well if M2 gets sucked into Bitcoin you are holding about 250 million dollars.

Btw as skilled as you seem to be, did you know these days you can get good degrees from good universities online, cheaper and/or for free..

Why you guys keep feeding this kid so much bullishitness? It's a good investment, but don't tell him he will be some Bill Gates.

At most I'd say he can have 25,000 USD out of this. AT MOST. Still good.

now who is on drugs?

Yeah, an over 30 year old man, not an old man. This 'kid' is so full of it.

oops. the voice is getting stronger! with this kind of attitude you will gain a lot of confidence in no time. confidence is what ruins most people's wealth once they aquire it. remember that.

i am doing the same  ;D

wow.  good luck dog.  only time will tell if you've done good.  everything here is just words.

but, for some reason, you cannot help yourself.

I would've waited to buy in on a dip, or just bought 5 BTC now and waited a week or so to see what happens before buying the rest, but hey it's your money. As long as you plan on holding long-term I think you'll be good.

Why did your oarents give you access to that fund??

Hello Young Sir, (assuming you're no troll, i.e. you're story is 'real')

There are so many things that could be said to you and many have been said. So I'll be as brief as possible.

I think your move is very smart, but perhaps not wise. Not conferring with your parents on this move may end up making that relationship quite difficult, in, at least, a few moments. However, you seem to see the 'light' when it comes to understanding the potential value for the BTC protocol, which is why you're here. You've done some research (enough? I don't know), and to an impressive degree for a 'kid'. So, you should realize that you'll need to reckon with this disingenuousness at some point.  ???

Further, you should know that some of the most important things in life are: learning how to have healthy relationships (not being deceitful for ex), hard work, humility, and decentness as a human being. These are the things that will make your life awesome. And, YES, travel helps one broaden quite a bit as a person.

I'd like to advise you to consider learning computer science, and continuing your interest in either internet security, back end/front end/full stack development, data science, cryptography or one of many of the other great areas around the Bitcoin world, which you clearly have interest in. That way, by 15 or 16 or 17 or 18, you should be able to command a very healthy income for your work (and age), which should easily pay for your travel! See what I'm doing there? Leave the small amount of Bitcoins out of the conversation and ensure that you can get what you have your heart set on!! Take your life into your own hands further than just making a smart bet! Become a young person OF value, and you will have all the riches you desire.

I'm speaking from example, by the way. I may be quite a bit older, but I'm changing my career right now-- I'm learning Ruby! The best three careers in the country (US) have typically been: doctor, lawyer and engineer. These days there are a glut of lawyers, and doctors are getting hammered by work hours and exorbitant insurance costs. That leaves one awesome opportunity, if you like it and if you're technically minded.  ;D Technology has found its way into almost every other industry. Imagine in 10, 20, 30, 50 years...

Best of luck, and keep us posted, PLEASE.  :)

P.S. What did you buy in at?

Bitcoin is Fiat in its purest sense, be prepared

Forget about bitcoin for a couple of years :)

i hope you didn't put the majority of your funds in bitcoin and that it's a relatively small amount of your funds. never invest what you can't afford to lose.

Or sell as much to break-even, and keep the remaining 10% or so coins. This is conservative strategy :)

You should sell soon

Don't troll the kid.

Kid: hold, minimum 2 years.

That's the wrong attitude. As much as all of us would love to see BTC succeed we have to face the fact that it might not.

Although scared money don't make money  ;). I think you made the right choice, just don't be disappointed if it fails.

Cryptocurrency is the future, that much is obvious.

+1 good advice

You've got balls kid. Pretty good decision IMO, despite being on the risky side. General advice is not to invest more than you can afford to lose. However, you've clearly done your research and seem a lot more informed than a lot of people that post on here.

its probably going back to $150, just don't sell, hold for 5 years and they will be 50 - 100K by then

the moment you double your money sell half your coins and put the money back in the account. then you will have 6 bitcoins and your parents will never be the wiser  ;D

That's actually a good plan if you don't want your parents finding out.

+1.  Do this, then tell your parents about it. 

no tell your parents, and then sell them half  ;)

LOL.

My eldest son is 12 and if he pulled this shit on me I would be pissed.

that's too bad, parents should encourage their kids :/

Hey noob2001!

Kudos for being what appears to be either a very smart kid or a very convincing troll :)

Seems like you understand Bitcoin and its potential so just follow the advice you're getting here: BUY and HOLD. Solid advice. Maybe think about cashing out something to cover initial investment in case you want to come clean to your parents, but that's really up to you.

I just came here to warn you from this advice:






What do these posts have in common? They are all saying that college is valuable because of the social connections you make there. It's true that you get to know a lot of people and you can have a good time there. But guess what? Attending college is not the only way to make connections and have fun :)

Think about it. When you choose a college, lots of things are predetermined for you - where you're going to be, what you're going to learn and which people you're going to meet. Do you want to spend what lots of people refer to as their "most fun years" like that?

Go travel or work in a couple of jobs so you can travel. Be free. You'll learn all you need to know that way. And remember:

^

we're all in this together. What if noob could be a positive influence and example to his friends that he might go to college with? His perspective on life is valuable and many people might need him as an example. You can't measure those network effects, life is not all about you

I think you are a very intelligent kid! Hope everything go well. Welcome to the Bitcoin community ;)

Glad to see young kid like you already found a way of investing. Definitely hold them and put into good use in your college years. Hope you one day become a young entrepreneur realizing your ideas while still studying in the college.

Ftfy

Good luck.

When bitcoin hits $10,000, you may instead spend 0.5 directly buying the stuff you need with BTC. I guess there will be much more merchants than now, even the biggest ones  :)

I hear ya, hindsight isn't nice.

I've had a 5970 graphics card since 2010 and it broke in 2011, I looked up some repairs for it and came across bitcoin and ignored it... If I was mining instead of playing games I'd be a millionaire.

Now that your average entry price of $350 per BTC has been eclipsed and the price is now at $800, I urge you to cash out your base investment and put it back in your college fund. I suspect your parents will be much happier to know that you haven't squandered their cash, but just borrowed it to make a smart investment.

Nice job, kid

Your parents will likely pressure you to take profits early...

Stay strong

Yes, good advice. They might not be able to understand bitcoin as you did so cash out and keep the rest. Don't be fooled by the recent price inflation. It can go down.

+1
Now you have enough fund by yourself, it's not proper any more to put your parents' fund at risk.

It makes sense that most people posting on bitcointalk would support someone's choice to buy BTC, but I think that a thirteen year old spending money he didn't earn on them is a different story. When I was thirteen, my parents scarcely trusted me to make a $200 purchase. Grabbing a couple grand out of college savings seems unfair to your parents, if it's somehow legal.

+1. Put the base investment back and only play with what you can afford to lose. And don't wait much to do this.

12 bitcoin is good, you made the right choice. By the time you graduate you will have a decent amount. Keep in mind the current generation GenY (18-32) don't have much money on them so a lot of people here twice or thrice your age have fewer coins that you do.

I'm with you there.  I'm 36, I have 9 bitcoins and I'm jealous!  It might be safer to print the private key - thumb drives sitting for 10 years could easily get corrupted and I wouldn't bet that much on them being reliable.

Sadly I think it`s too late to take good advice and he`s already been convinced by the bitcoin echo chamber that the price is on course to $10,000. If he really is 13 (which I have my doubts) this will likely end up as a painful lesson in investing... but hopefully an educational experience nonetheless.

also its "please tell me i have done well" not "please tell me i have done good"  :P

+1
very good advice. you can put back your parents' money and continue investing

I was your age. You weren't mine yet. So I know how you think and I can tell you this:

Open up your computer, open your exchange and put a sell order at spot price that would equal your withdrew school funds BUT DON'T EXECUTE IT YET. Bring your parents, explain them what you did and if they feel uncomfortably at any time execute the order and get the money back. Keep the rest in an offline wallet. Maybe you'll loose half of the coins but you'll win your parents.

I wish I'd have your optimism, kid.

All your 3 sentences are too optimistic, but hopefully your right   ;)

You're in an excellent position. You have more Bitcoins than many of us here and the average human being will have less than 0.1 Bitcoins in their life. Whether Bitcoin goes up to $10,000 or $1 million you will be in a better position.


Yeah just like we should have convinced our governments instead of doing it behind their backs? I think the kid has balls. Sometimes you gotta make a decision for yourself for your own sake, your own happiness and your own future. This even applies to kids.

He should tell his parents about it 6 months down the road when the price is up and he has secured it beyond their reach.

sell off 1 or 2 every now and then and buy more!

If your parent granted you all freedom in how to use the fund, then you can do whatever you want. If not, I really don't think you should risk other's money with your own optimism, especially when now you have more than twice of the original fund. Risking others' money when you have more than enough looks not responsible at all to me.

Before returning the money to his parents, that half of coins are not 'half of your coins', but his parents' money for his college fund.

You will, at the bare minimum, be in the top 2million holders of bitcoin.

Think of this on a global scale.

Obviously with larger holdings, lost coins, unmined coins you are actually probably in the top 500,000

Go big or go home! Nobody wins half a$$ing it. I think you did great. In 50 years you could be on the cover of Forbes! And since you're a kid you see things without being in debt. CLEAR!!!!! Debt is a prison and now you never have to go there! Every kid that gets a student long is willingly stepping foot into the Workcamp... Get big loan, shitty education that you could basically get online for free or at the library. Only to get out of school stress out about the first loan payment. Get a job working at the mall selling Cell phones. Little kids going door to door selling candy make more than those guys. Keep up the investing work! But look to other things don't let Bitcoin consume your time. Your already invested and you're in for the long haul so the works done. Staring at the chart or trolling forums isn't going to bring the riches any faster. I suggest you start reading some books on investing and business. You could have your lawyer or parents form a corporation for you when your 16 and begin your way to wealth.

There is some extremely irrational investing advice in this forum, be careful.

Bitcoin has a very high potential upside. This galvanises people and turns us all into dreamers. We see people getting rich and want it too. A very high potential upside.

However it is also insanely risky. There is no law that states that Bitcoin will keep going up. In fact, it will go in the direction that will benefit the people who are already rich the most. If price outstrips adoption, price rises will not be exponential for a while.

Now, for most people, it is wise to take on high-risk investments. When you put the money in you accept it as lost, a sunk cost. If you are lucky, that pays off handsomely. It's a great idea. But the key is, you have to write off that initial investment.

For you, it is not -- the money was not yours, and you can't afford to lose it. You're in no position to write it off -- it was theft. You certainly can't take those decisions on behalf of others. In fact, your college is much more important, and many other opportunities will come in life.

You must also understand that easy riches is not the opportunity here. In life there are far more important opportunities that will make you into a person you can be proud of.

At this stage, if you are staying in due to potential greed, I'd advise you to liquidate some of your principal soon, and eventually keep only the BTC with which you could buy with profit. This will be very painful, especially when you see it go up, but it is wise to be careful when everyone else around you is greedy. Seeing all the responses here, I think you can judge for yourself, regardless of your age. These people who are so eager to see you buy now, will sell when the shit hits the fan. And they'll do it before you.

I couldn´t write it better. Thank you.

Now, for most people, it is wise to take on high-risk investments. When you put the money in you accept it as lost, a sunk cost. If you are lucky, that pays off handsomely. It's a great idea. But the key is, you have to write off that initial investment.

Young man, people on these boards are not evil. But neither are their your friends. Remember that when asking how to manage money of your family.

I dont think it is so risky as you say. It is true you may sell for less than you bought, it really only matters on supply/demand, but as long as Bitcoin is usefull payment method, the price wont crash under 1 USD, this Im sure

So far, I'd say you've done good.

And the bitcoin heavy portfolio pays off for the balls-of-steel teenage investor! (responsible disclaimer: Now may be the time to consider putting those original 5k back in the college fund)

So your parents set up an online savings account, in your name, that you can withdrawal from for any reason? This is wrong on so many levels.

First of all, when parents invest in a college savings plan, they usually go the route of a 529 plan or an IRA. These can`t be withdrawn from until the child enrolls in college. Technically you can actually withdrawal anytime, but you`ll have to pay taxes on the balance and penalties under certain circumstances (this would clearly be one of those circumstances).

If you`re not bullshitting everyone here and your parents actually set up a traditional savings account for your college, then they`re just dumb. Savings accounts nationwide are paying 0.21% right now (far from "decent"), which is clearly losing value year to year, because of inflation.

So again, this is why I find this story hard to believe. Not many parents put money aside for their children`s college, so the ones who do probably wouldn`t be so dumb as to just tuck it away in an envelope or savings account, and then further dumb things up by giving the kid full access.

Come on people, think with your heads, please.

You're one of those guys from r/personalfinance aren't ya?

HAHAHA I READ THIS THREAD WHEN IT WAS ALMOST FIRST MADE


nOW BTC IS FALLING OFF A CLIFF

UR MOMS GONNA BEAT YOUR ASS

its temporary

Not even funny. Moron.

This looks like an other bullshit story to raise confidence of unaware people .

Edit :  didnt read the date of op post

rip in peace noob2001

he died of a computer hardrive being shoved up his ass

I figured you might still be grounded though  ;D

He bought these coins on or before 11/12/13. The high for that day on Bitstamp was under $400, so that's the most he could have paid. We're currently at $365 and you guys are acting like he just did something terrible. I'd bet within the next few months $400 won't be a bad price.

Still holding?

He should've sold when it shot up past $1000. It'll take a while before it goes that high again.

I'm curious if he's told his parents.

No worries kid, you could not have caught a better time to buy up. By the time you're in college you would've made so much more gains than if you had that in fiat kept in some bank which probably would've use YOUR money for themselves anyway. Good job.

Worth the investment one way or the other
You still have a good amount of years till you need to enter into college may as well have it in a position to do something
Just make sure they do not get stolen and your good ^^

Although in the time machine should have realized more unrealized profits same regret but alas ^^ next rise :P

my god!

I have to say, you have experience far beyond your years.

are you telling me that you rode the wave of bitcoin decline all the way to the bottom without flinching?
there are many much richer much more experienced traders who would have run much earlier.

welcome to the beginning of true growth, I hope my children can have the steel girth that you have displayed.
when i first read your post, I was a little concerned, these are adult games, and I was sure that you would fair badly, but here we are....

when you become chief of whatever profession you decide to move into, remind me to invest.

Stop blowing smoke up the Op's ass. He's probably just a 30 year old attention whore sitting in his moms basement, "getting off" literally, every time one of you pats him on the back.

oh child prodigy can you drop some satoshis on one who admires your courage? xDDD

1KvmcX8VqrVxkabVgGiWV2yMZXanVKZfqu

How fucking stupid must someone be to believe the op is 13 years old?
Seriously. Same as the morons who think the guy who sold his house for btc is real.
Just how fucking dumb are the people on this forum?

The guy who sold his house actually got media coverage and interviews on Canadian national media. Better to research that before insulting a bunch of people.