.

[BitThink]

If your parent granted you all freedom in how to use the fund, then you can do whatever you want. If not, I really don't think you should risk other's money with your own optimism, especially when now you have more than twice of the original fund. Risking others' money when you have more than enough looks not responsible at all to me.

[BitThink]

And cashing out half your coins when the price doubles is a great way to, well... lose half your coins.

Before returning the money to his parents, that half of coins are not 'half of your coins', but his parents' money for his college fund.

[zachcope]

You will, at the bare minimum, be in the top 2million holders of bitcoin.

Think of this on a global scale.

Obviously with larger holdings, lost coins, unmined coins you are actually probably in the top 500,000

[GriTBitS]

Go big or go home! Nobody wins half a$$ing it. I think you did great. In 50 years you could be on the cover of Forbes! And since you're a kid you see things without being in debt. CLEAR!!!!! Debt is a prison and now you never have to go there! Every kid that gets a student long is willingly stepping foot into the Workcamp... Get big loan, shitty education that you could basically get online for free or at the library. Only to get out of school stress out about the first loan payment. Get a job working at the mall selling Cell phones. Little kids going door to door selling candy make more than those guys. Keep up the investing work! But look to other things don't let Bitcoin consume your time. Your already invested and you're in for the long haul so the works done. Staring at the chart or trolling forums isn't going to bring the riches any faster. I suggest you start reading some books on investing and business. You could have your lawyer or parents form a corporation for you when your 16 and begin your way to wealth.

[BitPirate]

There is some extremely irrational investing advice in this forum, be careful.

Bitcoin has a very high potential upside. This galvanises people and turns us all into dreamers. We see people getting rich and want it too. A very high potential upside.

However it is also insanely risky. There is no law that states that Bitcoin will keep going up. In fact, it will go in the direction that will benefit the people who are already rich the most. If price outstrips adoption, price rises will not be exponential for a while.

Now, for most people, it is wise to take on high-risk investments. When you put the money in you accept it as lost, a sunk cost. If you are lucky, that pays off handsomely. It's a great idea. But the key is, you have to write off that initial investment.

For you, it is not -- the money was not yours, and you can't afford to lose it. You're in no position to write it off -- it was theft. You certainly can't take those decisions on behalf of others. In fact, your college is much more important, and many other opportunities will come in life.

You must also understand that easy riches is not the opportunity here. In life there are far more important opportunities that will make you into a person you can be proud of.

At this stage, if you are staying in due to potential greed, I'd advise you to liquidate some of your principal soon, and eventually keep only the BTC with which you could buy with profit. This will be very painful, especially when you see it go up, but it is wise to be careful when everyone else around you is greedy. Seeing all the responses here, I think you can judge for yourself, regardless of your age. These people who are so eager to see you buy now, will sell when the shit hits the fan. And they'll do it before you.

[Okurkabinladin]

There is some extremely irrational investing advice in this forum, be careful.

Bitcoin has a very high potential upside. This galvanises people and turns us all into dreamers. We see people getting rich and want it too. A very high potential upside.

However it is also insanely risky. There is no law that states that Bitcoin will keep going up. In fact, it will go in the direction that will benefit the people who are already rich the most. If price outstrips adoption, price rises will not be exponential for a while.

Now, for most people, it is wise to take on high-risk investments. When you put the money in you accept it as lost, a sunk cost. If you are lucky, that pays off handsomely. It's a great idea. But the key is, you have to write off that initial investment.

For you, it is not -- the money was not yours, and you can't afford to lose it. You're in no position to write it off -- it was theft. You certainly can't take those decisions on behalf of others. In fact, your college is much more important, and many other opportunities will come in life.

You must also understand that easy riches is not the opportunity here. In life there are far more important opportunities that will make you into a person you can be proud of.

At this stage, if you are staying in due to potential greed, I'd advise you to liquidate some of your principal soon, and eventually keep only the BTC with which you could buy with profit. This will be very painful, especially when you see it go up, but it is wise to be careful when everyone else around you is greedy. Seeing all the responses here, I think you can judge for yourself, regardless of your age. These people who are so eager to see you buy now, will sell when the shit hits the fan. And they'll do it before you.

I couldn´t write it better. Thank you.

Now, for most people, it is wise to take on high-risk investments. When you put the money in you accept it as lost, a sunk cost. If you are lucky, that pays off handsomely. It's a great idea. But the key is, you have to write off that initial investment.

Young man, people on these boards are not evil. But neither are their your friends. Remember that when asking how to manage money of your family.

[ferda2mx]

However it is also insanely risky. There is no law that states that Bitcoin will keep going up. In fact, it will go in the direction that will benefit the people who are already rich the most. If price outstrips adoption, price rises will not be exponential for a while.

I dont think it is so risky as you say. It is true you may sell for less than you bought, it really only matters on supply/demand, but as long as Bitcoin is usefull payment method, the price wont crash under 1 USD, this Im sure

[chrsjrcj]

So far, I'd say you've done good.

[Ozymandias]

And the bitcoin heavy portfolio pays off for the balls-of-steel teenage investor! (responsible disclaimer: Now may be the time to consider putting those original 5k back in the college fund)

[kireinaha]

its an online savings account, in my name. i have full access to it and there isnt any restrictions. the account was getting decent interest, but hardly anytthing now. the money is just sitting inflating anyway. i follow ron paul and austrian economics. so i know the govt and central bankers are scum for inflating, and burdening young people with debts. i want to make a stand. no point telling my parents, because they are socialists, and tbh they wouldn't understand anyway.

So your parents set up an online savings account, in your name, that you can withdrawal from for any reason? This is wrong on so many levels.

First of all, when parents invest in a college savings plan, they usually go the route of a 529 plan or an IRA. These can`t be withdrawn from until the child enrolls in college. Technically you can actually withdrawal anytime, but you`ll have to pay taxes on the balance and penalties under certain circumstances (this would clearly be one of those circumstances).

If you`re not bullshitting everyone here and your parents actually set up a traditional savings account for your college, then they`re just dumb. Savings accounts nationwide are paying 0.21% right now (far from "decent"), which is clearly losing value year to year, because of inflation.

So again, this is why I find this story hard to believe. Not many parents put money aside for their children`s college, so the ones who do probably wouldn`t be so dumb as to just tuck it away in an envelope or savings account, and then further dumb things up by giving the kid full access.

Come on people, think with your heads, please.

[Ozymandias]

its an online savings account, in my name. i have full access to it and there isnt any restrictions. the account was getting decent interest, but hardly anytthing now. the money is just sitting inflating anyway. i follow ron paul and austrian economics. so i know the govt and central bankers are scum for inflating, and burdening young people with debts. i want to make a stand. no point telling my parents, because they are socialists, and tbh they wouldn't understand anyway.

So your parents set up an online savings account, in your name, that you can withdrawal from for any reason? This is wrong on so many levels.

First of all, when parents invest in a college savings plan, they usually go the route of a 529 plan or an IRA. These can`t be withdrawn from until the child enrolls in college. Technically you can actually withdraw anytime, but you`ll have to pay taxes on the balance and penalties under certain circumstances (this would clearly be one of those circumstances).

If you`re not bullshitting everyone here and your parents actually set up a traditional savings account for your college, then they`re just dumb. Savings accounts nationwide are paying 0.21% right now (far from "decent"), which is clearly losing value year to year, because of inflation.

So again, this is why I find this story hard to believe. Not many parents put money aside for their children`s college, so the ones who do probably wouldn`t be so dumb as to just tuck it away in an envelope or savings account, and then further dumb things up by giving the kid full access.

Come on people, think with your heads, please.

You're one of those guys from r/personalfinance aren't ya?

[blinge]

HAHAHA I READ THIS THREAD WHEN IT WAS ALMOST FIRST MADE


nOW BTC IS FALLING OFF A CLIFF

UR MOMS GONNA BEAT YOUR ASS

[lemfuture]

HAHAHA I READ THIS THREAD WHEN IT WAS ALMOST FIRST MADE


nOW BTC IS FALLING OFF A CLIFF

UR MOMS GONNA BEAT YOUR ASS

its temporary

[rudius]

HAHAHA I READ THIS THREAD WHEN IT WAS ALMOST FIRST MADE


nOW BTC IS FALLING OFF A CLIFF

UR MOMS GONNA BEAT YOUR ASS

Not even funny. Moron.

[Bit_co_i_n]

so, i'm not that old, about 13, i don't have a job and i don't have a lot of savings to invest.......

after a huge amount of research, and in a moment of madness i withdraw from my college fund, which is technically mine although its my parents who pay into into it.

i've managed to buy 12 bitcoins. i'll be holding these indefinitely, even if the btc price drops 90%. no trading, although i may sell x amount to cover my expenses if things go well.

please reassure me i've done good?

and is 12 btc a good position?

and no lectures.

thanks

This looks like an other bullshit story to raise confidence of unaware people .

Edit :  didnt read the date of op post

[blinge]

rip in peace noob2001

he died of a computer hardrive being shoved up his ass

[serenitys]

I figured you might still be grounded though 

[Bitcopia]

He bought these coins on or before 11/12/13. The high for that day on Bitstamp was under $400, so that's the most he could have paid. We're currently at $365 and you guys are acting like he just did something terrible. I'd bet within the next few months $400 won't be a bad price.

[serpicodk]

so, i'm not that old, about 13, i don't have a job and i don't have a lot of savings to invest.......

after a huge amount of research, and in a moment of madness i withdraw from my college fund, which is technically mine although its my parents who pay into into it.

i've managed to buy 12 bitcoins. i'll be holding these indefinitely, even if the btc price drops 90%. no trading, although i may sell x amount to cover my expenses if things go well.

please reassure me i've done good?

and is 12 btc a good position?

and no lectures.

thanks

Still holding?

[fearlesscat10]

He should've sold when it shot up past $1000. It'll take a while before it goes that high again.

I'm curious if he's told his parents.