Why Didi sold everything for Bitcoin

[GMoore87]

https://youtu.be/9CdvsM_CMaE

24 min. long but worth it!

[1715292489]

1715292489

[1715292489]

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[mk4]

While I might be almost as long-term bullish as this guy, selling almost everything for bitcoin, and to live off solely bitcoin, is a hugely ballsy(though not necessarily smart) move. If bitcoin crashes in price(yes, crash, I'm talking 70-90%) probably due to a black swan event, the family could be screwed in the long-term. It's a smarter move to leave a good percentage of their wealth on other assets(index funds, etc). But I guess because he's a "blockchain speaker", he might still be earning good money. Though I'll be completely honest I didn't watch everything as I've immediately lost interest lol

[Anonylz]

Well I commend any one who have the courage to take such risk, I don't think I will be able to take such risk, as much as I believe in the future of btc and believe the price will be high long term, I can't sell everything I own and invest all on btc and left with nothing, it is always good to have a plan B, 
well best of luck to Didi and all investors out there.

[AverageGlabella]

I'm not going to commend someone for doing this because this is at face value such a stupid move. Bitcoin has proven over the years that it can be unstable and can drop significantly. What happens if he needs emergency funds and Bitcoin has hit a low? What if Bitcoin completely flattens for a long time? These are situations that an adult should be able to look at and prepare for without going all into one currency which is not known for its stability.

[Artemis3]

Yes diversification is always smart. Putting all your eggs in the same basket, is asking for trouble.

But in principle, if the amount is large enough, it could work. Even if it means that, sometimes, exchanging at low price would mean "losing" as opposed to having left that in fiat. However, in theory, this should average in times where price goes high.

By going deflationary, this person only needs to use what absolutely must for daily living expenses, and keep the rest as savings. I assume all income will be converted into bitcoin no matter what, and this needs discipline. In the long run, it does work, but slightly. As long as you have some steady source of income, and not expect to pull it out all from the bitcoin exchange difference.

But even if bitcoin does goes low for a long time, it will recover. But can you survive this period going minimum expending? It might be quick, it might be long. This is something you only consider if you live in a country with good strong fiat currency. If you live in my place, you don't have to think anything, everything to bitcoin is your only way from saving whatever you can (unless you have access to foreign currency, which is not exactly easy or safe).

[Broly46]

He is just being lucky imagine the bitcoin now worth less than 10% worth of USD in contrast with his initially invested amount, he would have been telling the other story, and I’m seeing he would be begging for a living if the price continued to fall, and 20k ATH seem to be a mission impossible for the foreseeable future, the hype for bitcoin is likely over, I think most millennial would have know and invested into it, we wouldn’t have any more sheep to pump bitcoin to the next trajectory, and they’re the one group of population that have the highest spending power, don’t tell me we can hope for new group of rich investors to magically appear.

[jossiel]

The guy bet it for bitcoin and I admired and amazed what he did because I'm sure that no one has the guts to do the same even me.

The decision he made contains a big risk because he's with his family. I can't imagine the "what ifs" if the market didn't do pretty well last 2017 and drop today under the price he bought it but well, it did well and I'm happy that there's someone that did all in to bitcoin.

[CryptoBry]

While I might be almost as long-term bullish as this guy, selling almost everything for bitcoin, and to live off solely bitcoin, is a hugely ballsy(though not necessarily smart) move. If bitcoin crashes in price(yes, crash, I'm talking 70-90%) probably due to a black swan event, the family could be screwed in the long-term. It's a smarter move to leave a good percentage of their wealth on other assets(index funds, etc). But I guess because he's a "blockchain speaker", he might still be earning good money. Though I'll be completely honest I didn't watch everything as I've immediately lost interest lol

The man has an amazing story and in today's world if you have one you can capitalize on that and make some money along the way. We have to admit that Didi made a big gamble with Bitcoin because of instead of putting his eggs in many baskets he opted to stake it all with just one: Bitcoin. To us, of course, this can be irrational and something we don't recommend anytime to anybody.

However, we would not be viewing a YouTube video on Didi and his story if he picked the usual route. I still have to know of an ordinary guy getting famous because he allocated his assets in many investment vehicles as that is already reserved for Warren Buffet. At the end of the day, this gamble with Bitcoin (non-sense it might be for us) is where Didi will be known for.

P.S.: The guy is actually talking a lot of sense in the video and I am beginning to like Didi (which means drinking milk preferably breastfeeding, in our local dialect). I love his family's adoption of a minimalistic lifestyle...something we should be looking at. As for adoption of Bitcoin, right tools and infrastructure are all playing a critical role.

[Mandoy]

This guy is a bitcoin fanatic and is super bullish or maybe he wanted to be a billionaire and so he sold everything he have for bitcoin. He gambled with his future and spend everything on bitcoin. If bitcoin will increase in value by the coming years then he will be very rich but if its the other way around then he will be forever poor and will become homeless.

[kayvie]

This guy is a bitcoin fanatic and is super bullish or maybe he wanted to be a billionaire and so he sold everything he have for bitcoin. He gambled with his future and spend everything on bitcoin. If bitcoin will increase in value by the coming years then he will be very rich but if its the other way around then he will be forever poor and will become homeless.

This is the type of guy who are not afraid to face the risk, he trusted bitcoin so much, he can risk all his assets to bet on bitcoin.
Few years from now this guy will be a millionaire, he did not made a mistake for this, investing in bitcoin is the best decision to be made at this moment.

[pooya87]

long but worth it!

meh!
there are lots of crazies who have done similar things. the thing that people forget is that they will experience a lot of stress pretty soon even if they don't show it publicly. it is a matter of a lot of money for most of them and "going all in" is not something you could easily ignore and sleep calm at night while bitcoin suddenly has something like a 30% drop overnight!

[target]

That's a very fearless move. Good luck. If I'm just single and would live with my parents, I've probably be doing all that as well. This time would have been very good time to sell all my belongings and probably my car as well all for BTC and start just looking for odd jobs in the neighborhood til I get my lump sum once BTC beats its ATH again. He's lucky to have done this while he is young and can probably just enjoy his profit later.

[target]

That's a very fearless move. Good luck. If I'm just single and would live with my parents, I've probably be doing all that as well. This time would have been very good time to sell all my belongings and probably my car as well all for BTC and start just looking for odd jobs in the neighborhood til I get my lump sum once BTC beats its ATH again. He's lucky to have done this while he is young and can probably just enjoy his profit later.

Dude , he is ~41 years old has a wife and kids, and has lost ~ $½ million dollars in fiat since doing this.

So he is $½ million in the hole at the present.

So technically bitcoin has made him much poorer.  

This is also a video about him,
https://www.youtube.com/watch?v=19U11Zhty5U&feature=youtu.be
watch it and get some prospective.

Just exactly they meant, losing half a million seem not a great way to make himself popular. And then he posted the faces of his kids, ain't that smart?

He got balls we can see that. Owning a lot of BTC is good. He could have kept it to himself and not telling everyone about it. Its not a good idea as we see crimes increasing related to BTC.  When Bullrun comes, good luck to him.

[AicecreaME]

I'm not going to commend someone for doing this because this is at face value such a stupid move. Bitcoin has proven over the years that it can be unstable and can drop significantly. What happens if he needs emergency funds and Bitcoin has hit a low? What if Bitcoin completely flattens for a long time? These are situations that an adult should be able to look at and prepare for without going all into one currency which is not known for its stability.

I agree with you, bitcoin's volatility is our top priority that we should know before investing all of our fiat in cryptocurrency (optional), everything will be a mess if we are randomly investing our money in random cryptocurrency. Bitcoin hits $20,000 in December 2017 but it doesn't mean it will always give profits to anybody who will put their interest in investing with it, that's very immature.

Having many plans is helpful in this kind of situation that OP had, "Don't put the eggs in just one basket" because if you drop it, it will be all cracked and you can do nothing about it.

[yoseph]

For one thing the guy was very lucky to have invested into Bitcoins when the value was hovering around  $1000 and $2000, imagine the amount of pressure and stress he wold have to go through if he bought when it was valued around $19000 and it dropped and never reached that mark again.  His family have been very supportive in all this because not a lot of people would be thrilled about living in campsites because their dad sold their house to invest into crypto.

[Edraket31]

That was very inspiring I hope that someday I can afford to buy even 1 BTC too and I would take the risk.

Many people who took the risk investing and buying BTC many years ago has now become millionaires, that's the beauty of taking risk, they didn't know what will happen but they still manage to bought as they have seen the potential of BTC.

[Kakmakr]

The "All In" approach is never a good idea. I always split my investment portfolio into three groups, namely : Low risk / Medium risk / High risk and then I decide how much of my portfolio must be invested into these 3 categories. I also diversify into things like shares / property / physical assets like Gold & Silver etc. to reduce the risk of losing everything when one single investment option fails.

I think it is a stupid idea to go "All In" into Crypto currencies and to sell everything you own to buy more Crypto currencies. We saw the Bitcoin price drop with more than 80% since 2017 and it is only now recovering a little bit.... do you still think it is a good decision to have everything in Bitcoin in times like this?   

[dothebeats]

Reminds me of some of the people who posted here 3-4 years back stating that they sold every asset they own in exchange for bitcoins. It finally paid off for them for sure but I'm still not a fan of going all in unless one is entirely sure that the market is headed towards their expected direction. Diversifying is still king as for me, assets' prime time do come and go, and the hype moves the same way too. Everything is risky if you are investing but going all in on a single asset? Now that's some extreme level of risk.

[nicecrypto]

That was very inspiring I hope that someday I can afford to buy even 1 BTC too and I would take the risk.

Many people who took the risk investing and buying BTC many years ago has now become millionaires, that's the beauty of taking risk, they didn't know what will happen but they still manage to bought as they have seen the potential of BTC.

Yeah well is because of future uncertainties that is why many people don't just go all in on any investment,  anything could happen along the way, plus as a family man I don't think it's such a smart thing to do, if you are single and take such risk that is understandable but a father gambling with his family future is not very inspiring.

[Lucius]

Didi Taihuttu is sold everything he has for BTC and he is happy with his family today as he travels the world, meets new people and lives a happy life. It was a risky move, but by what can be seen, it has paid off for him and his family. For those who say he is lost some money, it is true that the value of his coins is go down, but he still have them and there is no doubt that in the future their value will be several times greater than it is today.

I think this man did what many would like, but they don't have the courage to do it - It is much easier to sit in front of a computer, play video games and watch TV in a comfortable chair.

The secret of happiness is Freedom, the secret of Freedom is courage