Bitcoin Forum

https://youtu.be/9CdvsM_CMaE

24 min. long but worth it!

While I might be almost as long-term bullish as this guy, selling almost everything for bitcoin, and to live off solely bitcoin, is a hugely ballsy(though not necessarily smart) move. If bitcoin crashes in price(yes, crash, I'm talking 70-90%) probably due to a black swan event, the family could be screwed in the long-term. It's a smarter move to leave a good percentage of their wealth on other assets(index funds, etc). But I guess because he's a "blockchain speaker", he might still be earning good money. Though I'll be completely honest I didn't watch everything as I've immediately lost interest lol

Well I commend any one who have the courage to take such risk, I don't think I will be able to take such risk, as much as I believe in the future of btc and believe the price will be high long term, I can't sell everything I own and invest all on btc and left with nothing, it is always good to have a plan B, 
well best of luck to Didi and all investors out there.

I'm not going to commend someone for doing this because this is at face value such a stupid move. Bitcoin has proven over the years that it can be unstable and can drop significantly. What happens if he needs emergency funds and Bitcoin has hit a low? What if Bitcoin completely flattens for a long time? These are situations that an adult should be able to look at and prepare for without going all into one currency which is not known for its stability.

Yes diversification is always smart. Putting all your eggs in the same basket, is asking for trouble.

But in principle, if the amount is large enough, it could work. Even if it means that, sometimes, exchanging at low price would mean "losing" as opposed to having left that in fiat. However, in theory, this should average in times where price goes high.

By going deflationary, this person only needs to use what absolutely must for daily living expenses, and keep the rest as savings. I assume all income will be converted into bitcoin no matter what, and this needs discipline. In the long run, it does work, but slightly. As long as you have some steady source of income, and not expect to pull it out all from the bitcoin exchange difference.

But even if bitcoin does goes low for a long time, it will recover. But can you survive this period going minimum expending? It might be quick, it might be long. This is something you only consider if you live in a country with good strong fiat currency. If you live in my place, you don't have to think anything, everything to bitcoin is your only way from saving whatever you can (unless you have access to foreign currency, which is not exactly easy or safe).

He is just being lucky imagine the bitcoin now worth less than 10% worth of USD in contrast with his initially invested amount, he would have been telling the other story, and I’m seeing he would be begging for a living if the price continued to fall, and 20k ATH seem to be a mission impossible for the foreseeable future, the hype for bitcoin is likely over, I think most millennial would have know and invested into it, we wouldn’t have any more sheep to pump bitcoin to the next trajectory, and they’re the one group of population that have the highest spending power, don’t tell me we can hope for new group of rich investors to magically appear.

The guy bet it for bitcoin and I admired and amazed what he did because I'm sure that no one has the guts to do the same even me.

The decision he made contains a big risk because he's with his family. I can't imagine the "what ifs" if the market didn't do pretty well last 2017 and drop today under the price he bought it but well, it did well and I'm happy that there's someone that did all in to bitcoin.

The man has an amazing story and in today's world if you have one you can capitalize on that and make some money along the way. We have to admit that Didi made a big gamble with Bitcoin because of instead of putting his eggs in many baskets he opted to stake it all with just one: Bitcoin. To us, of course, this can be irrational and something we don't recommend anytime to anybody.

However, we would not be viewing a YouTube video on Didi and his story if he picked the usual route. I still have to know of an ordinary guy getting famous because he allocated his assets in many investment vehicles as that is already reserved for Warren Buffet. At the end of the day, this gamble with Bitcoin (non-sense it might be for us) is where Didi will be known for.

P.S.: The guy is actually talking a lot of sense in the video and I am beginning to like Didi (which means drinking milk preferably breastfeeding, in our local dialect). I love his family's adoption of a minimalistic lifestyle...something we should be looking at. As for adoption of Bitcoin, right tools and infrastructure are all playing a critical role.

This guy is a bitcoin fanatic and is super bullish or maybe he wanted to be a billionaire and so he sold everything he have for bitcoin. He gambled with his future and spend everything on bitcoin. If bitcoin will increase in value by the coming years then he will be very rich but if its the other way around then he will be forever poor and will become homeless.

This is the type of guy who are not afraid to face the risk, he trusted bitcoin so much, he can risk all his assets to bet on bitcoin.
Few years from now this guy will be a millionaire, he did not made a mistake for this, investing in bitcoin is the best decision to be made at this moment.

meh!
there are lots of crazies who have done similar things. the thing that people forget is that they will experience a lot of stress pretty soon even if they don't show it publicly. it is a matter of a lot of money for most of them and "going all in" is not something you could easily ignore and sleep calm at night while bitcoin suddenly has something like a 30% drop overnight!

That's a very fearless move. Good luck. If I'm just single and would live with my parents, I've probably be doing all that as well. This time would have been very good time to sell all my belongings and probably my car as well all for BTC and start just looking for odd jobs in the neighborhood til I get my lump sum once BTC beats its ATH again. He's lucky to have done this while he is young and can probably just enjoy his profit later.

Just exactly they meant, losing half a million seem not a great way to make himself popular. And then he posted the faces of his kids, ain't that smart?

He got balls we can see that. Owning a lot of BTC is good. He could have kept it to himself and not telling everyone about it. Its not a good idea as we see crimes increasing related to BTC.  When Bullrun comes, good luck to him.

I agree with you, bitcoin's volatility is our top priority that we should know before investing all of our fiat in cryptocurrency (optional), everything will be a mess if we are randomly investing our money in random cryptocurrency. Bitcoin hits $20,000 in December 2017 but it doesn't mean it will always give profits to anybody who will put their interest in investing with it, that's very immature.

Having many plans is helpful in this kind of situation that OP had, "Don't put the eggs in just one basket" because if you drop it, it will be all cracked and you can do nothing about it.

For one thing the guy was very lucky to have invested into Bitcoins when the value was hovering around  $1000 and $2000, imagine the amount of pressure and stress he wold have to go through if he bought when it was valued around $19000 and it dropped and never reached that mark again.  His family have been very supportive in all this because not a lot of people would be thrilled about living in campsites because their dad sold their house to invest into crypto.

That was very inspiring I hope that someday I can afford to buy even 1 BTC too and I would take the risk.

Many people who took the risk investing and buying BTC many years ago has now become millionaires, that's the beauty of taking risk, they didn't know what will happen but they still manage to bought as they have seen the potential of BTC.

The "All In" approach is never a good idea. I always split my investment portfolio into three groups, namely : Low risk / Medium risk / High risk and then I decide how much of my portfolio must be invested into these 3 categories. I also diversify into things like shares / property / physical assets like Gold & Silver etc. to reduce the risk of losing everything when one single investment option fails.

I think it is a stupid idea to go "All In" into Crypto currencies and to sell everything you own to buy more Crypto currencies. We saw the Bitcoin price drop with more than 80% since 2017 and it is only now recovering a little bit.... do you still think it is a good decision to have everything in Bitcoin in times like this?   ::)

Reminds me of some of the people who posted here 3-4 years back stating that they sold every asset they own in exchange for bitcoins. It finally paid off for them for sure but I'm still not a fan of going all in unless one is entirely sure that the market is headed towards their expected direction. Diversifying is still king as for me, assets' prime time do come and go, and the hype moves the same way too. Everything is risky if you are investing but going all in on a single asset? Now that's some extreme level of risk.

Yeah well is because of future uncertainties that is why many people don't just go all in on any investment,  anything could happen along the way, plus as a family man I don't think it's such a smart thing to do, if you are single and take such risk that is understandable but a father gambling with his family future is not very inspiring.

Didi Taihuttu is sold everything he has for BTC and he is happy with his family today as he travels the world, meets new people and lives a happy life. It was a risky move, but by what can be seen, it has paid off for him and his family. For those who say he is lost some money, it is true that the value of his coins is go down, but he still have them and there is no doubt that in the future their value will be several times greater than it is today.

I think this man did what many would like, but they don't have the courage to do it - It is much easier to sit in front of a computer, play video games and watch TV in a comfortable chair.

Very well said, even though you know you have a good and strong chance to shape your future with one bet, as long as you have a family, then don't do it. Let say, he's just to confident to himself, and maybe his wife is supporting him too much on all of his plan. I can say, if he succeed, their family is one of the happiest family in the cryptocurrency space ever.

Now, it's time you take the risk by buying some Bitcoin, rest assured that in the future you will become a rich person by having your asset growth with Bitcoin. We will see a miracle later after Halving happens, who holds Bitcoin then he will be lucky man.

Reminds of the bitcoin couple who also travels everywhere. Though they didn't sell all for BTC, its good to know people out there courageous enough to do all these, sell everything for BTC. That is something special at least he is only 40+ unlike some people who did nothing special in their life growing old and did nothing but survive. He is a millionaire so live the dream Didi!

I agree with you. They should have kept half of their currencies in fiat mixed with fiat investments. Then as you say if things go to hell you still have your fiat. Though I am a firm believer in bitcoin myself and get paid in it and keep it. I convert it to fiat as needed. Localbitcoin works perfectly and I get cash in my account in like 5 minutes usually. So for me, there s very little use for fiat and I only get it when I need it.

I don't think he is foolish. He believes strongly that bitcoin will sky ro ket and I tend to agree.

Risk is part of cryptocurrency usage, and this isn't the place for the users who wanted to stay away from risks. Already similar incident have taken place with a person who sold all his belongings and invested on bitcoin. He then with his wife and three kids moved to a refugee campaign to spend his life. Already he could've got back the profit out of the risk taken to increase the value of his belongings.

Those people are something who really enjoy what they're doing, imagine how they are able to risk such wealth in something that there's no certainty, but only speculative guess where directions is unclear. Though I don't have anything against to this decisions as for sure before those people decided doing it they already assess the risk that accompanied by there chosen investment.
It's them who have full responsibilities with this chosen venue for investing their entire savings, believing that it will worth the risk.

He chose the right path, choosing bitcoin as his investment in exchange of everything he had is something that a real risk taker can do. He will live his life to the fullest with great fortune in the future when bitcoin will hit its new ATH in the future.

He really got the balls to sell everything despite of the unstable market. He must really trust bitcoin enough to sell and live a minimally life though somehow he still fortunate that he lives in a first world country, I mean we know the support that the government gave to homeless people.

Hoping his bitcoin is on the secured wallet and with his revelation, I'm sure his privacy is limited now. Praying for their safety.

the market is unstable but unstable under the bear range . it still a good idea to buy btc but selling everything ? i dont know if i will be happy with that or not.  it confuse me everytime i see a person sells everything.  i feel happy because it contributes alot of the price  . it can up the price but i feel sorry for what the seller have lost.  its only okay if he is patient enough to wait but if not ? he can sell too early and lost .

This person is really fanatical about bitcoin, there is no doubt in him. I wish I had the slightest courage like didi, unfortunately
I'm too afraid to believe 100% in bitcoin. This is an example of someone who is not afraid of risk, usually this type of person will
be successful in the future. Let him believe in his beliefs with bitcoin. How about us how much we are sure that bitcon will score
a lot of new billionaires. More and more fanatics like didi, this also signify that some people really believe in bitcoin will make them rich.
Everyone has the freedom to choose to be like him, or continue to be what it is now. Please think carefully.