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

[zedsacs]

As ived red on reddit and on the news, this guys was awesome. I mean being a millionaire in your 18 is really a huge impact on you and to your family. This guys is not just a simple high schooler, but this guy has a passion, and he is really smart I must say.

[eckmar]

If I had made a lot of profit like that guy I would have particular lessons, if the goal is to learn, you could learn faster with a teacher only for you. At school with dozens of students for one teacher in the class it's hard and takes time to learn.

Come to think about it, his parents are PHDs and he was probably getting home education. 

Which means basically nothing if you don't have a paper to prove that you are really educated. Try putting in your job application "I have a knowledge equivalent to a PhD in computer science, trust me on that"

[U.R.O.K]

i salute the high school dropout because he/she spent the with in how to be a millionaire at the yung age.
education is important if guy don't like to go in the school use the money from btc. have school offering the home study.
to get an degree.

[jvdp]

i salute the high school dropout because he/she spent the with in how to be a millionaire at the yung age.
education is important if guy don't like to go in the school use the money from btc. have school offering the home study.
to get an degree.

May I know how much time you spend in bitcoin. Maximum two hours a day .I think not two hours a day spoils your education. Many  students doing part time job for their studies.Like that ,If you spend two hours a days is quite enough for you became millionaire in future.For that you have save your bitcoin for longer.

[Novun]

It doesn't relly matter if you have a degree or not if you start your own business. In that sense, I applaud anyone who doesn't follow the usual boring path of getting a degree and working a 9to5 job. It takes guts and dedication to work on your own projects and make it into a profitable business. It is also way more rewarding than being employed.
Not to mention doing it with such a risky instrument as Bitcoin. A big applause to everyone on these forums for being here.

[stomachgrowls]

i salute the high school dropout because he/she spent the with in how to be a millionaire at the yung age.
education is important if guy don't like to go in the school use the money from btc. have school offering the home study.
to get an degree.

May I know how much time you spend in bitcoin. Maximum two hours a day .I think not two hours a day spoils your education. Many  students doing part time job for their studies.Like that ,If you spend two hours a days is quite enough for you became millionaire in future.For that you have save your bitcoin for longer.

There are already lots of people or even students do make bitcoin as a side income not only on striving to become rich but to sustain their needs on their education which is really a good thing to know on how bitcoin was useful to people specially on education and even on employees. For that student who become millionaire hes just lucky enough to jump on boat on earliest time.

[rickbig092]

Truly a great story (couldn't read the article though because a part of the link was removed by the forum, but what's posted here is enough I guess).
This shows the potential of making gigantic profit from anything if you were smart enough to get the highest worth of it at the right time, This "dropout" proved his investment ability and his intelligence by making the right investment..

[ubitcoin]

It could've been me too - I knew about Bitcoin when it was $3 each lol

It is hard to believe that a 12-15-year-old kid has done that. There are many other aspects of his success, his country, parents, and supporters. Everyone may not have the fortune of him. Right now it's getting harder and harder to earn BTC without any investments.

For sure now a days its really very difficult to earn bitcoin without doing hard work and tough work for this one needs to be serious and take his or her investment to the right path as for my own i joint bitcoin at the age of 16 and now at this age i take it very serious so it will help me.

[Rostadom]

School is simply not for everyone. With the Internet, we can all learn everything that we need to know. Education is nothing but an illusion now. Go to school for 16 years, get a job, buy a mansion and settle down. That's what people are thinking about how education works. But it's not like that. The jobs that are available after school wouldn't make us wealthy. Most people go to school because they think that upon graduation, a good paying job is waiting for them. That's clearly not the case in this world anymore.

I, too, wouldn't recommend education. I'm in no way against education. I'm into trying to try out other choices available instead of just going to that "default" road. My parents are telling me to get an actual job but I'm just like, "Uhmm. No." because I know that earning bitcoin pays much better and that the price will skyrocket in the future.

[Vaculin]

School is simply not for everyone. With the Internet, we can all learn everything that we need to know. Education is nothing but an illusion now. Go to school for 16 years, get a job, buy a mansion and settle down. That's what people are thinking about how education works. But it's not like that. The jobs that are available after school wouldn't make us wealthy. Most people go to school because they think that upon graduation, a good paying job is waiting for them. That's clearly not the case in this world anymore.

I, too, wouldn't recommend education. I'm in no way against education. I'm into trying to try out other choices available instead of just going to that "default" road. My parents are telling me to get an actual job but I'm just like, "Uhmm. No." because I know that earning bitcoin pays much better and that the price will skyrocket in the future.

You have your point.But i think it would be better if you are a degree holder and well qualified to all the jobs you aspire to work  for.But if you are not that believer,i'm pretty sure you must be good with something else.After all the quality of your work and the enthusiasm and perseverance matters in the end.Success comes to those who eagerly work for it,with or without formal education.

[Xester]

School is simply not for everyone. With the Internet, we can all learn everything that we need to know. Education is nothing but an illusion now. Go to school for 16 years, get a job, buy a mansion and settle down. That's what people are thinking about how education works. But it's not like that. The jobs that are available after school wouldn't make us wealthy. Most people go to school because they think that upon graduation, a good paying job is waiting for them. That's clearly not the case in this world anymore.

I, too, wouldn't recommend education. I'm in no way against education. I'm into trying to try out other choices available instead of just going to that "default" road. My parents are telling me to get an actual job but I'm just like, "Uhmm. No." because I know that earning bitcoin pays much better and that the price will skyrocket in the future.

You have your point.But i think it would be better if you are a degree holder and well qualified to all the jobs you aspire to work  for.But if you are not that believer,i'm pretty sure you must be good with something else.After all the quality of your work and the enthusiasm and perseverance matters in the end.Success comes to those who eagerly work for it,with or without formal education.

So true.  Success is not about finishing college and have a graduation picture laminated.  Or having a huge house and lots of car.  It is about what have you achieved or your influences, or about how you inspire people around you.  And of course, still it is better to finish school so you would not end up on the street.

[bouren]

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?   

Yes, even if I got a chance to choose between 60k dollars worth BTC and 100k dollars cash,  I will choose BTC because it is really too much cumbersome to convert such huge amount to BTC. Will not be possible without spending around half of amount in tax and fees.
However, if someone fascinate from this kid story, don't forget new coins keep coming everyday and new coin means new opportunity. Invest wisely and who knows you may become millionaire tomorrow.

[U.R.O.K]

the education is every important, in the school starting to develop ability to communicate and educate your social mental ability.
all of this useful to your success in life.

[Caelanpelley]

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?   

This is the success of his effort, so good. He knows how to invest and utilize bitcoin resources in a timely manner. This is also a source of motivation for later bitcoin investors.

[Jimmy_H]

The best thing regarding investing is being right at the right time, He invested that sum of money (which wasn't nothing for him) at the beginning of bitcoin and had accepted significant risk to this invested money and was rewarded with these millions,
Wondering if there are stories like these which are hidden among us in this forum?

[yellow1]

I think its is a great news that he became millionaire because he wanted to success in investing and wants to become rich in bitcoin. He has a patience and dedicated to invest rather than go to school. Therefore even if he become millionaire he should go to school and continue his study because his dream and ambition to be rich is already fulfilled and become successful in investment. To become rich and success is not only finish the study but a hard work and determination into investment. This high school student is a good example who want to invest in bitcoin. Its only proves that a bitcoin is a good value and profitable.

[Shinpako09]

He made a quite good decision. He is now on the line of dropouts who became succesfull because of bitcoin. A trully inspiring that you should work smarter and what he does is a big gamble. Although success in life doesn't depend on degree sometimes, still having both money and degree is still better for me. He should continue despite of being a millionaire now.

[Gintama214]

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?   

   Well to be honest Erik is one lucky kid, at the age of 12 he already invested on bitcoin but as you said when he is 18 he is now a millionaire. For I think that he did a right decision to invest on bitcoin, no one actually thought that bitcoin will be this big and this kid Erik, I believe that he did not expect it either that the coin he invested will hit the jackpot. Well for the one that you don't understand the answer is simple, DO NOT DROP OUT OF HIGH SCHOOL EVEN IF YOU'RE ALREADY MILLIONAIRE. Education is very important, same as the one that you explained he should have took the $100,000 and then he can buy new bitcoins which was ($200) at the time. Even with tax he can earn more and get more bitcoin when he took the $100K this is a mistake on his side, he should have asked his parents on what he can do and what are his options to it. He is still a kid, he has to learn more that's why you don't leave school just because your a millionaire look at those big CEO's in Facebook, Apple, and etc. they maybe a dropouts but they went back to school so that they can expand their knowledge. Becoming a millionaire doesn't mean you need to stop going to school, it means that you have the money to learn more and knowledge is the most important the money.

[unusualfacts30]

At $200 he would've paid $60k for 300 bitcoins. One smart kid nonetheless. I hope he uses it for good purpose.

[Harlot]

That is the good thing about doing it early and believing in your investment. What the kids did was smart on believing something new like Bitcoin in which he have risked plenty of money in order to gain. Believing on an investment is hard much more for something that is not tested or has been legally approve yet. But it paid off in the end in which right now he is a millionaire. I hope that someday I see myself in that position so my advise to everybody is start investing now before it is too late.