This family bet it all on Bitcoin

[wxa7115]

So a young family (with parents that are still young enough to go get jobs at any time if they fail) bets everything on Bitcoin, and everyone in this entire thread loses their shit at how irresponsible and stupid they are.

But this guy invests $83K into Bitcoin during a 4 year period, even while the price is still falling, and yet he gets nothing but praise and applause today for his foresight and bravery? Not a single person on the thread telling him how stupid and irresponsible he was after the fact?
https://www.reddit.com/r/Bitcoin/comments/77v4l2/after_4y_i_made_12x_on_my_bitcoin_investment_and/

Amazing what hypocrites most people are. I guess the praise comes only after you were successful from taking a big risk, but you get nothing but derision when first taking a big risk?   WTF people?

I guess the OP family will be praised in the future as well if they too are successful?

I have not read the link you posted but in my opinion the main difference is the family angle, if you are a single person you can take as many risks you are comfortable taking and it is fine, but once you have your own family those days are over, you need to think not only on yourself but how this is going to affect your loved ones, if you fail you are not going to be the only one that suffers.

[jubalix]

The desperation from the current system

[DMiracle1]

i think Mr. Didi Taihuttu made a very big risk. And to think that he is a father of 3. But that was his choice. Who are we to question his decisions. It's their life.
For me, I think I will never have the same courage as Didi had. I will certainly think of my family's welfare first. And invest only our extra money for now.
But when I finally have saved enough for the family, i might take my chances though. Who knows.

[richardsNY]

The desperation from the current system

It reeks of pure greed rather than them being driven to these actions by the system. If someone is doing it to escape the system to some extent, they would slowly convert their savings and whatever they have into Bitcoin as long term store of value. At least, that's what people with common sense do. Aside from the pure greed I was referring to earlier, I also doubt the legitimacy of this. Seriously, why would you display your stupidity (because that's exactly what it is when you put your family's future at risk) to the outside world? It makes absolutely no sense to me....

[romero121]

The desperation from the current system

It reeks of pure greed rather than them being driven to these actions by the system. If someone is doing it to escape the system to some extent, they would slowly convert their savings and whatever they have into Bitcoin as long term store of value. At least, that's what people with common sense do. Aside from the pure greed I was referring to earlier, I also doubt the legitimacy of this. Seriously, why would you display your stupidity (because that's exactly what it is when you put your family's future at risk) to the outside world? It makes absolutely no sense to me....

Greed does not suit for the person who has taken such a risk. He has already tasted the goodness of bitcoin long back when he along with his friend invested into bitcoin and withdrew after months for mere profits. Realizing those incidents and knowing its potential through different ways he along with his family has decided to go for the risk.

[ApocalypseNow]

i think Mr. Didi Taihuttu made a very big risk. And to think that he is a father of 3. But that was his choice. Who are we to question his decisions. It's their life.
For me, I think I will never have the same courage as Didi had. I will certainly think of my family's welfare first. And invest only our extra money for now.
But when I finally have saved enough for the family, i might take my chances though. Who knows.

For me, I think it's selfishness and greed made him do that. There's many possibilities that bitcoin will suffer another downside again and it could cause a huge panic and it's going to be a nightmare for them. I'm a supporter of btc but he should at least made a Plan B.

[tiggytomb]

I hope they are.cashing out along the way up just to be safe so they don't starve.  This is a bold risky thing they have done but so far it seems to be working out in their favour, good luck to them.

[leowonderful]

It's a highly risky move that shouldn't be done by selling everything and gambling. You're fucked if the price doesn't move (granted, they've already technically made a small profit). The system is collapsing but you're in shambles for a bit if price temporarily goes down. Bitcoin is still the future, though, and no government will stop it.

I'm not a supporter of going absolutely all in on Bitcoin.

[cipher-x_09]

Not a wise decision I guess I mean its normal to take a risk if you are investing on something but that does not mean you can take all the higher in order to gain for a much higher without even an assurance that to you can recover what you give in order to obtain that level of amount of money. And what I mean is we are all here investing to support are love ones right? I mean how can we support them if we leave them nothing. And besides at these kind of business it takes time for us to gain and achieved our maximum amount of investment.

[Bestfriendko]

It's either you admire him or you see him as irresponsible head of the family. Is it his excessive desire for money or just plain stupidity that has engulf his mind for doing that? I'd say both. His families future is at stake here. The future of his children. Those children who are not so old enough to know the consequences of what their father had done. And yet you can see that they seem to be happy for all the publicity that are surrounding them.
I do not question the possibilities that bitcoins price will reach a very high stakes. I think it will. And yes, bitcoin is a good investment. No doubt about it.
I just hope that he has an alternative plan if things doesn't go right the way he sees it.

[spngebob]

It's either you admire him or you see him as irresponsible head of the family. Is it his excessive desire for money or just plain stupidity that has engulf his mind for doing that? I'd say both. His families future is at stake here. The future of his children. Those children who are not so old enough to know the consequences of what their father had done. And yet you can see that they seem to be happy for all the publicity that are surrounding them.
I do not question the possibilities that bitcoins price will reach a very high stakes. I think it will. And yes, bitcoin is a good investment. No doubt about it.
I just hope that he has an alternative plan if things doesn't go right the way he sees it.

I couldn't agree more, investing in bitcoin is smart but it's stupid to invest all you have, this guy has big balls and obviously doesn't think about future of his children. From what i read his alternative is "either rich or poor", but he already doubled his money and if he is smart he will sell half of his bitcoins, return his investment and keep the other half.

[Protomono]

I need to congratulate him. Because what they are staking is same as what they want. Bitcoin climbed higher and he gained a significant advantage. They risked more crazy than gambling.

[richardsNY]

From what i read his alternative is "either rich or poor", but he already doubled his money and if he is smart he will sell half of his bitcoins, return his investment and keep the other half.

If his mentality is all or nothing, he will not cash out whatever percentage of his profits at this stage. If you do such a thing, you obviously will ride it out all along. If your intention is to take short term profits, you'll only make yourself look more like a fool. To me it looks like he is expecting (i.e. assuming) Bitcoin to boom in the coming years, and for that reason he will wait it out, and thus not cash out anything in the meantime. Why would you take such an insane to put it all to waste so soon? It makes absolutely no sense to me. If you do something, then at least it should be done like you intended to do.

[OrangeII]

well, they are a family ready to take risks. I think it's really risky to sell everything they have. but, when bitcoin prices go up high, I think it's all paid off. hopefully they benefit a lot. even I did not dare do that.

[giveen]

well, they are a family ready to take risks. I think it's really risky to sell everything they have. but, when bitcoin prices go up high, I think it's all paid off. hopefully they benefit a lot. even I did not dare do that.

It's stupidity , they heard if btc one fine day decided to go all in and not understanding that the price is increasing because of different hard forks once it stops there is a high potential for the price to drop back to $5k when that happens they can't do anything except holding or even selling for a loss.
Btc is surely the best investment to make put going all in is the worst thing to be done.

[wxa7115]

The desperation from the current system

It reeks of pure greed rather than them being driven to these actions by the system. If someone is doing it to escape the system to some extent, they would slowly convert their savings and whatever they have into Bitcoin as long term store of value. At least, that's what people with common sense do. Aside from the pure greed I was referring to earlier, I also doubt the legitimacy of this. Seriously, why would you display your stupidity (because that's exactly what it is when you put your family's future at risk) to the outside world? It makes absolutely no sense to me....

We live in the social media era where most people are willing to do anything in order to get their 15 minutes of fame, it is sad but that is the way things work, besides it is obvious that they do not think they did something stupid even when most of us know they did, so they are showing off to everyone that is willing to listen that they are smarter and are willing to take those huge risks because of their greed.

[BitcoinPanther]

I believe that family did not regret their decision.  Now with bitcoin continously going uptrend, thsi family is for sure having  a great time of their life.  If they cash out now, they will have a huge earnings probably 2 or 3 times of their capital.  Oh well it is always a good thing to invest in a thing that is just starting to grow and already have huge community and supports from diferent company and country.  And that is Bitcoin.

[diouf67]

I saw this and that they basically lived in 'relative' poverty for a while but now they live lavishly. Honestly I could not do such a thing for my family, I would never forgive myself if it did not work out and would not feel comfortably gambling with their livelihood like that.

[JL421]

wow that is surely the best thing to do if we have any cash or non usable assets we should also sell it off and go all in bitcoin i feel it can rise more in the upcoming months. it also has a steady price which is what makes it more profitable

[batang_bitcoin]

wow that is surely the best thing to do if we have any cash or non usable assets we should also sell it off and go all in bitcoin i feel it can rise more in the upcoming months. it also has a steady price which is what makes it more profitable

It's not the best thing to do if you have limited resources and assets. I'm a bitcoin believer but I don't have the guts to try this thing out. I bet this family has intense belief to bitcoin but I'm not on that stage. We do know that we're about to see bitcoin fly to the moon but still this is a risky thing betting on bitcoin all what you got. I can only sell 1/4 - 1/2 of my total assets but I can't move on to 100%.