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Author Topic: Software Engineer Buys 20,000 BTC in 2010, Quits Job to Travel Around Globe  (Read 1985 times)
ChironRegera
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July 13, 2017, 02:01:55 AM
 #41

It's a great story and really shows where BTC has come from and where it's heading!
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July 13, 2017, 02:16:14 AM
 #42

keep chasing those riches lads,maybe your 10000 elephantcoin will be worth something someday
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July 13, 2017, 03:55:56 AM
 #43

The recent meteoric rise of Bitcoin and other cryptocurrencies has led to the appearance of some unlikely millionaires.  A recent interview by Forbes magazine shows just how powerful Bitcoin has been over the course of the past decade for those who invested early.

The interviewee, a former software engineer in Silicon Valley, asked to remain nameless. However, he did explain that he started purchasing Bitcoin in 2010 after doing some research. He decided that the purchase should be sizable enough to provide some real upside, should Bitcoin ever increase in value, and so he bought $3,000 worth, or, at the time, 20,000.

When the Bitcoin price really started to jump, he made his first sale of 1,000 Bitcoin, netting him $2.6 mln. Since then, he’s quit his day job and now travels the world, flying first class and staying only in five-star resorts.

After explaining his multiple sell-offs, and the $25 mln in profits he’s realized thus far, he explained that he sees Bitcoin values at $150,000 in the long term. “I really do think it will get there,” he says confidently, "But a lot of governments and companies will have to be on board, first. No amount of speculation in the world will push it that high.”

Clap clap, to him. Can't believe this guy had the insight to buy bitcoin back then, and not just a small amount for a joke or something, he bought a sizeable amount which means that he didn't fluke his way to become a millionaire, but he had actually researched and speculated correctly about the future for bitcoin. I agree with the last paragraph, and I can definitely can see bitcoin in the 10 thousands, but as he stated, it need government funding for that to happen and also goverment approval. The only way to support the blockchain and cryptocurrencies, is to make transactions with them, just keeping your bitcoin won't just promote bitcoin and educate people, we need to keep making purchases for bitcoin to go mainstream.


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ploki180
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July 13, 2017, 05:59:16 AM
 #44

We all dream with being that guy, but being at the right moment at the right time it's just too difficult. All we can do is work with what we have, and just knowing what bitcoin is in 2017 puts you ahead of 99% of the population. Owning some BTC already puts you ahead of pretty much everyone else outside this forum.
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July 13, 2017, 03:56:11 PM
 #45

It's unbelievable story for everybody but I believe this story it's my personal matter.
The one who atleast know about bitcoin's price history will easily believe in this story but some noobs and self claimed financial expert will always neglect this types of claims.

I would love to be him.

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July 13, 2017, 05:03:33 PM
 #46

I just wonder how it became possible for him to foresee the future. I read somewhere in 2009 and in 2010 the miners put bitcoins for sale in ebay but no one was ready to grab them. When trend was like that, if someone decided to grab 20k bitcoins in 2010 must be a genius who got capabilities to foresee what is going to happen.

I mean to say he must deserved the wealth he could get from his bitcoins. Buying some bitcoins in 2010 is not a big deal but holding them till date must be differentiating such people from rest.
Well, I think he just trusted it and see what will happen to it. Maybe he did a research about cryptocurrencies that time and was convinced that it will give positive results in the future. Another thing is that he is a Software engineer in the silicon valley! I'm sure he has a good wage salary over there and the price of bitcoin that time is so low it will make you feel like if you bought it, you will have nothing to lose, so it is a good investment from way back.

After reading the actual article. i suppose this is the right one https://www.forbes.com/sites/bishopjordan/2017/07/07/bitcoin-millionaire/#5dd294086261 since op said forbes

He heard it from his geeky friends  and got intrigued when the price increases tenfold since then he watched the market to see it first before investing which is a wise move .

youre right about he being paid well but why did he forgot his investment lol. he remembered it when bitcoin was getting popular back in 2013. that time hes ready to sell. what

a coincidence really. but i must agree that if this article is not another tool to sway people, the mas himself has the eyes not just because he chose bitcoin but already think

that time that the game was for long term basis.




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July 16, 2017, 01:34:00 AM
 #47

There is no way to verify this story.

Unless, of course, the so-called millionaire signs a message from a 1000 BTC address saying that he is the one sighted in the article.

But who in his right mind will do something like that, to begin with why would you have a 1000BTC in a single address, if for some reason someone other than you gets access to the private key you will lose your money and unless you are very rich losing 1000BTC will be bad, it is better to have many addressees with 50 BTC each, also why would anyone sign a message to prove they own so many coins, it is like waving your credit report on the street for anyone to see.
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July 16, 2017, 02:32:06 AM
 #48

There is no way to verify this story.

Unless, of course, the so-called millionaire signs a message from a 1000 BTC address saying that he is the one sighted in the article.

But who in his right mind will do something like that, to begin with why would you have a 1000BTC in a single address, if for some reason someone other than you gets access to the private key you will lose your money and unless you are very rich losing 1000BTC will be bad, it is better to have many addressees with 50 BTC each, also why would anyone sign a message to prove they own so many coins, it is like waving your credit report on the street for anyone to see.

I don't know, but wouldn't one paper wallet be enough to store more than 1000BTC? I mean it can't get any safer right? Print it and store it in a Tresor Cheesy
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July 16, 2017, 05:07:53 AM
 #49

that is one hell of growth and ROI.

i have said it again and will say it again. for all the people who wants to be millionaire.,
the bitcoin ship may look like has been sailed., because the price is high right now, and we cant invest that much to buy 10k/20k bitcoins., but what we can do is , invest in some other alcoin which has future and plan and busniness strategy and is already cheap., buy that altcoin as many as you can and hold on it.
if you see history of ether , stellar and ripple then you will know people made thousands of dollars on their investment.

so keep doing what makes you money and buy altcoins., and keep an eye on market.

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July 16, 2017, 05:30:44 AM
 #50

The recent meteoric rise of Bitcoin and other cryptocurrencies has led to the appearance of some unlikely millionaires.  A recent interview by Forbes magazine shows just how powerful Bitcoin has been over the course of the past decade for those who invested early.

The interviewee, a former software engineer in Silicon Valley, asked to remain nameless. However, he did explain that he started purchasing Bitcoin in 2010 after doing some research. He decided that the purchase should be sizable enough to provide some real upside, should Bitcoin ever increase in value, and so he bought $3,000 worth, or, at the time, 20,000.

When the Bitcoin price really started to jump, he made his first sale of 1,000 Bitcoin, netting him $2.6 mln. Since then, he’s quit his day job and now travels the world, flying first class and staying only in five-star resorts.

After explaining his multiple sell-offs, and the $25 mln in profits he’s realized thus far, he explained that he sees Bitcoin values at $150,000 in the long term. “I really do think it will get there,” he says confidently, "But a lot of governments and companies will have to be on board, first. No amount of speculation in the world will push it that high.”

Well, i dream that kind of thing too, i wished that i knew bitcoin in 2010 so i buy many of them and hold them until now. If this story is legit or nah, i still like this kind of thing. I want to be rich like him and also want to travel around the world with my bae. This kind of thing will instantly make you a millionaire and makes me having fun all day and night. Goodjob to that guy, he has a great prediction and act wisely. He do research and analysis about bitcoin in the future.

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July 16, 2017, 05:38:14 AM
 #51

Even if I have bought that many BTC like that engineer from silicon valley in 2010, I would not have quit my day job and travel around. I mean there are sufficient case studies of countless people winning the lottery, quitting their day jobs and travelling around the globe in luxury but they will lose their fortune eventually in a few years time. Those who are interviewed regretted winning the grand prize as it made them feel sad or it led to argument between family members.

 
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July 20, 2017, 02:34:19 AM
 #52

Even if I have bought that many BTC like that engineer from silicon valley in 2010, I would not have quit my day job and travel around. I mean there are sufficient case studies of countless people winning the lottery, quitting their day jobs and travelling around the globe in luxury but they will lose their fortune eventually in a few years time. Those who are interviewed regretted winning the grand prize as it made them feel sad or it led to argument between family members.
The big difference here, is that he did not won the lottery, he made an investment that paid big, he has higher education and knows very well what he is doing, also bitcoin will not stop going up in price and that will only make him richer, but I agree about not leaving his job, he should have kept his previous job and do it for more time that way if something goes wrong he has a backup plan.
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