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

[Kimchu kuno]

Stroke of luck. We have lots of millionaires now but look in hindsight it could have easily been anyone on this forum.

There's a lot of people who's did not a degree holder becomes a millionaire simply by making business, you have a right pathways that you invested in bitcoin.

[Falmera]

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?   

It is so good experience for that young teen. He is so lucky enough to gain that big. But education is also very much important. It cannot be bought by money. Though he is so rich now, he also needs to study to learn other things in life that money can't buy.

[FourByfour]

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?   

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.

Yeah, he is just lucky that it turns out fine , but this shouldn't be an issue in dropping out school.

[bitfocus]

dropout does not mean he/she is a jerk, he/she might have utilized his/her brain properly and take the lead

[Naughty Princess]

Seriously I know people who did not even knew how to tie their shoelaces and the 12 years of age and here this guy at the age of 12 earned a million dollars by doing investing in bitcoin at age 12 and I'm quite sure that at that time very fewer people believed in bitcoin and did invest in it and whoever did and HODL their bitcoins, today are rich. I have heard many other similar cases like this one.

It is depend how they raised by their parents. Sometimes child like this has a parents that are businessman and busy to take care sort of things which build up the mind of the child and having computer on their young age help them to be mature and open on what happens everywhere. There is no possible things when someone willing to do that things.

[Coleth]

This story is a testimony of a young high schooler to become a millionnaire after buying bitcoin. The next things happened was its his destiny, and you just could’nt question what had happen the important thing there is he is an example of a person who put his faith i mean believed in bitcoin and he did reap what he saw.

[rimisinosu]

I saw his history on YouTube and it is impressing. He did right thing by investing the profit in other businesses.

[Lima0396]

I will also achieve this soon because i am working towards it with my commitment.

[eifer0910]

Wow this is so inspiring even if your young if you have the guts to take the risk for your future and your luck stick with you then your one of those millionaire someday that's nice and I will aim to achieved that too soon. In God's will and purpose.

[XCryptoFund]

About me, I sold 350ETH in 2015 for 21$/u   

[Traslavin]

This story is a testimony of a young high schooler to become a millionnaire after buying bitcoin. The next things happened was its his destiny, and you just could’nt question what had happen the important thing there is he is an example of a person who put his faith i mean believed in bitcoin and he did reap what he saw.

It only proves that this Cryptocurrency is for all who can able to handle it wisely. It has no age limit provided that the one who was deciding to enter in this world of digital currency has a basic knowledge about it and also has a knowledge about trading. And it is not impossible that became a millionaire is not that hard to get here in crypto all you have to do is to become knowledgeable of what you're doing.

[Kaykay]

I believe that everyone has their own lucky strike, but the matter is no one knows when it come so to others their strike just pass by. I hope my lucky strike will not.

[BulbaLord]

Very inspiring story . I want also to be a millionaire someday . 😊 everybody wants . But we dont know when it will be . Now we should always make our day positive , to come positive vibes and help us our life lighten .

[nvt2511]

At a very young age, he's thinking is already in advance. Not all 12 years old can think that way. Some people will choose the money instead of Bitcoin because they see it as no value. But the student thinks of it as an investment and I am amazed.

[Snake9999]

This is a irreproducible saga, if not for Bitcoin, I think he may still work in the factory now. Don't envy him. Everyone is fair. You should ask yourself when you were 18 years old. did you dare to invest in Bitcoin?
This boy was rewarded for his boldness. It was fair.

[Gaurav11kb]

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.  

Haha. You're right but I really don't understand why would he choose BTC over cash. Even if he believed in blockchain and Bitcoin, he could buy more with that same cash. Something is fishy there in the story. BUT he is the millionaire now. whereas I bought ripple in December and got rekt

[m.mendoza]

Am I missing something in here?

At the age of 12 years and such serious money, his parents would need to be involved in every step of the $100K taxation and then conversion to Bitcoin.

This might happen. Because i know there are some people who became millionaire while taking the bachelors degree. They can attend classes and they invest. But what can advice is that you can be millionaire eventhough you are dropout but if i were you if you earn you can continue your studies because education is the most important thing that people have.

[Fappanu]

That's a good example that even if you are not studying if you are wise to go to a strategy you will really earn money. So I salute you because you've been like me. You deserve the money you hold now! And I'm even more proud because the same path we proceeded

[satana_igor666]

What is the difference when he invested.  He is well done, he believes in the future of bitcoin and has not lost.  Now probably in anything does not deny himself.

[avoxosuccesful]

wow what a story, wish i could be so lucky like this boy but i can't drop out i just can do both things and still not get affected. truth everybody can't be like the lucky guy retire early and just leave earning sm'in big some were.but the amzing thing his 12 gee with some srious money mhne i wonder.well i don't think you can encourage any one to be a dropout this days but if i had been that boy?i'lld make same decision believe me