High school dropout who invested in bitcoin is now a millionaire at 18

[DoublerHunter]

i am dropout and i am not millionare ., , he is really lucky.

wait till bitcoin hits 10k or even 20k theres gonna be lot more millionaires.

I also want to just drop out from my studies because i really feel that it is not helping me in my financial status and it is just wasting my time to get more money because when i have more time in bitcoin then i can make more money and if that kind of situation will continue then i can easily be rich. Studies are just distractions for me and i don't really feel that i need them. I love education but not in school.

[Dudeperfect]

Yes, I read this story on Facebook. There are yet many investors who have invested in the Bitcoin and they don't care about the current price fluctuations. On the other hand, there are some early adopters who invested heavily in the bitcoin in its early phase and sold it too. This is a matter of intuition and luck, who knows everyone who posted in the thread might become millionaires after 10 years from now.

Don't feel bad newbies - Early adopter without many Bitcoins.

[JimmieA]

That really is an important decision. I'm not sure but it can be a big mistake. Btc investment is not easy and of course need to capital, at the age of 18 he has how much money in the account? It is not necessary to drop out of  learning in the school to invest btc. Here I do not care about age, it is necessary to know about btc and choose the right time.

[Mundicina]

Age does not matter when it does come to cleverness. This is something that I saw from myself.

[maydna]

i think we don't have dropout from our school for just make investing in bitcoin, because while we are in school, we can enjoy our time and waiting for the price to go up. so when every thing is set up and the price is up like today, we can be a millionaire without doing any work and now we can sell our bitcoin to buy what we want or we can make another investment in our real life. this is a good story for us and i think if we can teach this into our children and tells them to save bitcoin from now on, then when they are graduated from high school or college, they can be one of the richest person so they can start to make their own business.

[Chris!]

Well I think I'm a little too late to drop out of high school. I'm also too late to drop out of post secondary but I could always quit my day job if bitcoins would just 100x already! Good for him, he was obviously way ahead of 99.9% of the population and it paid off.

I do agree the $100k then buying bitcoins would have been a smarter move, but what can you expect from someone who dropped out of high school?! He couldn't do the math! In the end it worked out either way whether he had 300 or 500 bitcoins. I couldn't see him regretting that decision while living in his mortgage-free home with a few nice cars parked in the driveway. He's better off than most of us either way!

[profitgenerator212]

It's totally possible I mean the coins I picked have easily made 135000% profit in just 6-10 months depending how you calculate. So investing like 1000$ in them, and in 10 months you are a millionaire.

It's real people, and it's possible!

[Victorycoin]

LOL to the last part of not dropping out of school. Even Bill Gates and Mark Zuckerberg with their wealth will not encourage anyone to drop out of school for any reason. If I had been in his shoes at that age, I would have taken the same decision because at that time, I wont have any need for the money afterall so its an educated guess anyone would have taken and nothing special happen just that he took the decision more favorable to him.

What I was implying was that if he did not drop out from high school and complete all this mathematics curriculum, he may have chosen the cash option and use the cash to buy more bitcoins than just 300 of them.  

He said to his parents, his decision to go for Bitcoin was more of a investment, so his decision was premeditated and it saved him the temptation of immediately diverting the money on toys or games had he settled for cash.
 
People do not drop out of school for the fun of it, rather circumstances compels them to and that sort of brings out the best in them as we can see in Bill Gates, Mark zuckerberg and        http://fundersandfounders.com/entrepreneurs-who-dropped-out/  
but the real message is not to glamorize college dropout, because those are just the exceptional cases, majority of dropouts actually end up without a name.

[roadbits]

Yes, I read this story on Facebook. There are yet many investors who have invested in the Bitcoin and they don't care about the current price fluctuations. On the other hand, there are some early adopters who invested heavily in the bitcoin in its early phase and sold it too. This is a matter of intuition and luck, who knows everyone who posted in the thread might become millionaires after 10 years from now.

Don't feel bad newbies - Early adopter without many Bitcoins.

When he invested that time, the Bitcoin doesn't have this much popular in the real world. So the seller also gave his bitcoins for less price, and the buyer took a risk and bought those coins now he is a millionaire. But now the situation is changed if the price drop under $1000 no one will sell their coins they will wait until it comes up. Because bitcoin gained the trust in the market. No one gets panic if the price drop. I think in this situation if we want to become a millionaire it is a tough job.

[YOYOY]

He'll probably experiencing right now of the "one in a million things to say that you could be a millionaire in bitcoin". It's really good if I also know bitcoin that time and invest with it, but its a luck on him that he did it and I'm sure he's proud about it right now that he made that decision rather than the suggestion of his mom that it would be better for some cash. 

[BitcoinPC]

It is not a success story yet, this was stage one.  The question is what does he do now?  A couple million does not last that long and we are sure that he blew a little bit.  That is the potential for serious investment or business building, but he is 18 and it is not sure what he is going to do.

[tabas]

I've watched a video of him. He told his parents that if he will become a millionaire at the very young age  they wont force him to go to college. And he did won that deal with his parents, this kid is amazing there are even more richer than him but this kid has full faith to bitcoin. Congrats to him.

[silverkamote]

You've been spun by media. So hung up on the story they were telling you(kid gets rich by pure luck). That you let that alone dictate judgement. Despite the fact that the article drops hints at the kids level of intellect and self motivation. If you remove the "sensational" story about money, the consensus would likely be starkly different from your attitude about it.

[Gens09]

http://www.c[Suspicious link removed]m/2017/06/20/bitcoin-millionaire-erik-finman-says-going-to-college-isnt-worth-it.html

Erik invested in bitcoin when he was 12 and not is a millionaire at age of 18.  This is a good story for Bitcoin.

But here is something that I do not understand:

An excerpt from the article:
"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."

"My parents asked 'Why don't you take the more cash?"' Finman explained. "But I thought of it more of an investment.""

Why didn't he take the $100K and bought more bitcoins instead?  Granted that there has to be some tax consideration, but tax rate has to be as high as 40% in order for both of the cash option and the bitcoins option to breakeven.  If the tax rate was at 40%, then he could get $60K after tax and would be able to buy 300 bitcoins at the market price ($200 at the time).  Moreover, one day when he sells the bitcoins, he can dedect $200 on each of the bitcoins from the capital gain as cost.

Am I missing something in here?  Don't drop out from high school?   

That was really a great thing happened to him i guess he really think about hes future in that kind of age and hes really lucky because he know about bitcoin in that age and, the result was really great investment are successful hes already a millionaire.

[DoublerHunter]

http://www.c[Suspicious link removed]m/2017/06/20/bitcoin-millionaire-erik-finman-says-going-to-college-isnt-worth-it.html

Erik invested in bitcoin when he was 12 and not is a millionaire at age of 18.  This is a good story for Bitcoin.

But here is something that I do not understand:

An excerpt from the article:
"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."

"My parents asked 'Why don't you take the more cash?"' Finman explained. "But I thought of it more of an investment.""

Why didn't he take the $100K and bought more bitcoins instead?  Granted that there has to be some tax consideration, but tax rate has to be as high as 40% in order for both of the cash option and the bitcoins option to breakeven.  If the tax rate was at 40%, then he could get $60K after tax and would be able to buy 300 bitcoins at the market price ($200 at the time).  Moreover, one day when he sells the bitcoins, he can dedect $200 on each of the bitcoins from the capital gain as cost.

Am I missing something in here?  Don't drop out from high school?   

That was really a great thing happened to him i guess he really think about hes future in that kind of age and hes really lucky because he know about bitcoin in that age and, the result was really great investment are successful hes already a millionaire.

Yeah, I also hope that in that time i already know bitcoin and the potential for bitcoin so i can also invest in bitcoin and just hold it until now and make a lot of money because of bitcoin. That kid is a good explorer in the internet because he find bitcoin as a great investment while other people are doubting it and i always believe that i will do the same thing if i were knew bitcoin in that year.

[szpalata]

It is not a success story yet, this was stage one.  The question is what does he do now?  A couple million does not last that long and we are sure that he blew a little bit.  That is the potential for serious investment or business building, but he is 18 and it is not sure what he is going to do.

Yes, it looks like a staged success story to me just like they guy who bought pizza with some 5000( five thousand) bitcoins. It seems they are staged to promote Bitcoin but in as much as they are good it makes deep thinkers crave for credibility of the source which most of the time is lacking.

[meliodas]

He is just a bit lucky in all his decessions and he knows what he is doing and what should he take,being offered 300bitcoins and $100,000 in cash is a pretty hard decision but he made the right choice to choose bitcoins

[pooya87]

i am dropout and i am not millionare ., , he is really lucky.

wait till bitcoin hits 10k or even 20k theres gonna be lot more millionaires.

being a dropout didn't make him rich, that's just what the media bolds to make the news more interesting. what made him rich was investing in bitcoin while not that many people were believing in it. and as a kid he didn't mind putting that much money in something and not touch it for a long time.

and also even if bitcoin reaches 10K and 20K there still won't be that many millionaires because along the way many of them will panic sell their stash and buy back at higher prices and miss out on the real profit. just as they were doing from $200 to $2500 in the past 3 years!

[Junko]

Damn, when I was 12 years old all's I ever cared about was riding my bike and playing football (American). The most I ever had in my pocket back then was maybe twenty dollars.

[batang_bitcoin]

Damn, when I was 12 years old all's I ever cared about was riding my bike and playing football (American). The most I ever had in my pocket back then was maybe twenty dollars.

Well with me on that age I really dont care about investing and my future. I just keep on thinking about how finish Crash bandicoot and other computer or playstation games. And I cant even get that amount of investing because we are not that rich. But kudos to this kid he has now secured future.