Two brothers who became millionaires with cryptocurrency

[Leviathan.007]

On the morning of April 17, two brothers in Westchester, New York, woke up and realized that they had become millionaires overnight, thanks to an incredible bet on cryptocurrency, which was originally made as a joke.

Tommy, 38, and James, 42, who asked CNN to refuse to release their last name for privacy reasons. The two brothers invested several hundred dollars in a cryptocurrency called Shiba Inu (SHIB), which is a derivative of dogecoin. So, in fact, Shiba is a paradox of another cryptocurrency that has a fraction of the value of tradition. A friend of the two these two brothers, who happened to be an expert in the cryptocurrency market, told them that he believed Shiba could be a lucrative cryptocurrency.
"I kind of thought about bitcoin — that was once a fraction of a penny and now it's tens of thousands of dollars, and this happens to people, it's possible," Tommy said. "I trusted my friend and I figured if it went to zero, that's OK. I thought of it as a lotto ticket that wouldn't expire."
Less than two months after their initial investment in late February, their lives changed. It was their father's birthday and instead of giving him a gift, they made him a millionaire.
The value of cryptocurrencies skyrocketed this year. After years of disregard from Wall Street, cryptocurrencies, including lesser-known bitcoins and altcoins, have received unprecedented investor attention.
According to the Coindesk, the value of bitcoin has grown by 70% since January. The Dodgecoin cryptocurrency, originally made as an internet joke and still worth less than a dollar, rose more than 11,000%.
But the fact is that investing in cryptocurrency is an very risky investment. Cryptocurrency prices are characterized by high volatility and potential risks such as server hacking, sudden file deletion or lost passwords that can lock investors in their funds forever.
James and Tommy initially invested $ 200 each in this market. They also reported the matter to their mother, father, sister and several family members.
"My mother and sister were skeptical of this market, but each invested another $ 100," Tommy said. "After a few weeks, when their capital increased by about 300%, they invested another $ 100 to continue in this market."
n total, they invested approximately $ 8,000 in the cryptocurrency market.
Prior to the release of the Covid-19 pandemic, the brothers' main source of income was wedding photography, but the outbreak somewhat delayed their business. According to James, instead of booking 30-40 weddings a year, they had a maximum of 8 wedding proposals.
"We kind of fell through the cracks," Tommy said. "The government stimulus checks weren't enough to sustain us. I'm a positive person but it was really tough, and not knowing the future was kind of scary."
With the return on their investment in Shiba cryptocurrency, it was hard to believe that their lives would change. When filming a wedding in mid-April, they monitored half of their $ 100,000 investment, which was rapidly rising.
"The next morning when I woke up and realized we were doubling our capital, I was really surprised," Tommy continued.
"Then it went up to $ 700,000, and I told my brother that it would definitely be $ 1 million, and I was constantly following this on my cell phone."
The next day, this happened.
"The day it reached one million - my mother and sister did not think it was real."
Is it possible that the initial capital of a family, which was $ 7,900, will now be close to $ 9 million on Thursday? CNN Business News confirmed the amount through its cryptocurrency wallet and transaction date.

What is SHIB cryptocurrenc?
Shiba Inu (SHIB) was created less than a year ago as a clear derivative of the Dodgecoin, and was introduced with the theme and logo of the Shiba Inu dog breed, but was created as a mockery, but is no longer laughed at by market participants.
According to the analytical site CoinGecko, the cryptocurrency is marketed under the symbol SHIB and has increased by 11,000% over the past 30 days.
Earlier this week, Atrium co-founder Vitalik Buterin made headlines by donating $ 1 billion in Sheiba Ino tokens to a Covid-19 relief fund in India.
Formerly known informally as an internet joke, cryptocurrency has now attracted a large number of celebrities, including the boy band.
Nick Carter tweets from the stars of the Backstreet Boys band are often seen with the hashtags #Shiba and #ShibArmy.
"As an enthusiast and investor in cryptocurrency, it was very interesting to see such news based on the donation of ethereum founder Vitalik Butrin to India," Nick Carter told CNN Business. "I believe in an incredible future in The world of digital currencies is waiting. Especially when we have enough knowledge to use these passwords. "Life will be better every day and many lives will improve in this way."
NFL star Antonio Brown tweeted to more than 1 million followers on Wednesday that he, too, has invested in the cryptocurrency market.
"Shiba trading is booming and cryptocurrency have a bright future ahead of them, and they are a new way to invest," Brown told CNN Business on Thursday.
There are thousands of cryptocurrencies in this market, but Bitcoin and ethereum account for almost two-thirds of the total $ 2.3 trillion cryptocurrency market. Likewise, the brothers James and Tommy learned that the market is very volatile despite its exciting profitability.
Bitcoin, for example, the largest cryptocurrency used in the world today, was dropped after Elon Musk in Tesla's plans to accept bitcoin as a payment method, citing environmental concerns. After that, the ciphers saw a 12% drop in price.
Dodgecoin, one of the items that Elon Musk regularly promotes on Twitter, experienced a 20% price reduction after Elon Musk appeared on Saturday Night Live last weekend.

Advice from two brothers Tommy and James
Tommy and James were not sure how they decided to use their capital in this market. They have not yet fully cashed in and are holding on to a decentralized exchange called ShibaSwap.
"It happened so fast and it's very difficult to even find things you can do with the money," Tommy said.
But the first fruit of this deal is to help my parents.
"My parents' house needs a new roof and I am responsible for providing it."
For those who are thinking of repeating the rapid success of the brothers, James warned:
"Do not bring any money you do not want to lose into this market."
Meme tokens or internet jokes are very dangerous and you really do not know what is going to happen to them. Although Shiba changed our lives, we know that the outcome of this deal was not a normal one. You see how much volatility there is in this market, so stay awake even at night. "


Source: https://edition.cnn.com/2021/05/14/investing/crypto-shiba-inu-brothers-millionaires/index.html

[The Sceptical Chymist]

So this is basically an overblown story about two guys who won the lottery.

Shit like this makes me scared for bitcoin and the rest of the coins that actually have a purpose, because when you can invest a few hundred dollars and see that investment turn into $1 million overnight, you know there's a mania going on--and that feeling of being manic doesn't last forever.  It never does, and it'll only take a small thing to send these speculators fleeing from the crypto market and cause bitcoin to crash.

I think people see what happened with doge and now think these ultra low-value, utter shitcoins can do the same thing.  They're just gambling on shitcoins the way idiots have done on Yobit for years now, except right now it's newsworthy.  Makes me want to slap my head and rip out my hair.

[just_Alice]

I've heard about this altcoin a while ago, never thought there'd be something out of it. Kind of feel sorry for not doing enough research about it now
Although, who could've known? I don't think anyone could've expected this.

But the most amazing about this story is this:

"My mother and sister were skeptical of this market, but each invested another $ 100," Tommy said. "After a few weeks, when their capital increased by about 300%, they invested another $ 100 to continue in this market."
n total, they invested approximately $ 8,000 in the cryptocurrency market.

It's extremely unusual for skeptical people, that are unfamiliar with cryptocurrencies to increase their investments after the increased price. Most people would probably withdraw immediately after the 300% growth in fear of losing money they've already made.
I'm truly happy for these people, they were brave and weren't greedy, and for that, they got the reward. This should be put on notice.
Of course, we could assume it was just a very rich family and a couple of hundreds of dollars mean nothing to them, but judging from the info given these two brothers were having a tough time due to the decreased demand for their services.

[Stalker22]

This is another one of those lottery winner success stories. Nothing more. People pay billions for a tickets. They risk all their money in the hope that they will win. There are some winners, but there are also many losers.
In the same fashion, you can spend thousands on shitcoins with little to no hope that any of them will make major gains.

[cabron]

They gambled and won. I happened to several users who invested in a new token with ust a few hundreds that they earned 10x. This is not unusual to crypto anymore because the tokens usually started with a very small price and gradually increment. What they didn't do however is get out of it before the price sinks to the bottom. Shib is hype due to the doge, if I got some of it I'd already sell to invest in a project that has a clearer future.

[hatshepsut93]

What kind of rational investor would put their money into Doge, Shiba and all the other meme garbage coins and tokens a few months ago? It's just pure luck, no one could foresee that Elon Musk will decide to manipulate the crypto market with his tweets.

And when people with no trading experience are reading such articles, they are going to set themselves up for losing a couple of hundreds of dollars on some scamcoin or by buying the top of a bubble.

[Coyster]

Quite a lot of these "lottery coins" are pump and dump coins, that's the more reason why no matter how many people share the testimony of how they became rich from it, it's somewhat a tricky investment, the two brothers in the op are lucky they were able to make profits now that the coin is pumping (or has pumped), thus it then becomes alluring for investors, who will prolly not do their research before investing, as all they need is the testimony of others who have made profits, at the end, when the plunge comes, majority of investors will have dumped coins in their hands. What people fail to understand is that Elon Musk's tweet/talk alone can't sustain a coin/project for the long period.

[eaLiTy]

On the morning of April 17, two brothers in Westchester, New York, woke up and realized that they had become millionaires overnight, thanks to an incredible bet on cryptocurrency, which was originally made as a joke.

They are really lucky and i will not even go near those meme tokens thinking i could make a millions dollars let alone invest a dime but this time everyone who took the risk in all the shit coin made a fortune  ,  apart from Doge even i started following these meme coins recently and the coin that made them the fortune is Shiba Inu (SHIB) and hopefully they could cash out their millions and never plan on holding for a long time as these shit coins will dump at any time.

 

[macson]

i congratulate to that two brothers....no one will know when that shitcoin will give you a big profit, It's like winning the lottery ^{(like others say)}.  i see SHIBA rising high since Elon Musk tweeted about it and Vitalik bought it. 

[dunfida]

Its very inspiring to see these kind of stories into those people who had really invested into something which they do believe that it would really be worth and it did really pays off.

These kind of chances could really happen in crypto space but not all would really be lucky enough to hit up the pot but its not too late though but always remember about on investing
on the money which you can only afford to lose. Dont expect that much on becoming millionaire and i agree that this is some sort of hitting some lottery.

[Princejebs]

Well, what works for the two brothers who became wealth lord over night may not work for me. There aren't formula to success, if there is one, everyone would have been successful.
We are all taking the risks everyday day just to secure the bag and hopefully our risk yield more of Xes.
Coming to Shiba inu! At first, when it was listed on binance, I thought it was good idea to fomo in and then I bought some millions but after realizing that the market does not worth, I pull out with some profit. I don't buy into meme with their pump and dumps because at the end, many get hurt and few get richer.

[verita1]

Shiba's ATH occurred on May 10
0.00003791 today the price has decreased by 57.9% 0.00001596. A risky and lucky investment from these guys. If the investment was made on April 17, the price of Shiba was 0.00000194.
Indicators according to Coingecko.

LOL! A fleeting investment.
I perceive on Twitter that people are looking to make a fortune when the price of coins is pumping.
I am glad that the guys think about helping their parents and also that they know how to take advantage of their earnings.

[jaysabi]

I'm truly happy for these people, they were brave and weren't greedy, and for that, they got the reward.

I actually view it exactly the opposite. They weren't brave, they were stupid; and they were greedy. That's why you put money on a shit coin worth a fraction of a penny, in hopes of a pump that makes you a ton of money. They were just incredibly lucky it happened.  Doesn't make the initial gamble not stupid.

[o48o]

I've heard about this altcoin a while ago, never thought there'd be something out of it. Kind of feel sorry for not doing enough research about it now
Although, who could've known? I don't think anyone could've expected this.

-cut-

Your research would have only told you that it was garbage not worth investing. It still is though. Pump obviously happened because there were guys in it that had enough contacts to make it viral. These influencers have zero interest to reveal themselves or their strategy to strangers when it's time to invest because it's a zero sum game and they want their friends in first.

[charlesmichel1]

Another argument proving that investing in altcoins is a lottery.

[electronicash]

this is why vitalik didnt feel bad for the speculators of this coin when he sold the shib sent to his wallet and then donate the money to india to help fight covid.

vitalik selling them meant this coin have no value to him and should have been dumped. exchanges however seem to join the mania.

[Taskford]

I'm truly happy for these people, they were brave and weren't greedy, and for that, they got the reward.

I actually view it exactly the opposite. They weren't brave, they were stupid; and they were greedy. That's why you put money on a shit coin worth a fraction of a penny, in hopes of a pump that makes you a ton of money. They were just incredibly lucky it happened.  Doesn't make the initial gamble not stupid.

They have strong balls and I consider them brave since imagine how big the rise what gotten by Shiba Inu but still they didn't dump that shitcoin at earliest point, For so many rug pull happening on BSC scene they manage to hold that's why they earn what they deserve although it can be consider as a joke by them.

But lets not get inspired unto this there are so many rug scam schemes on BSC now and better do scalp than hold for long term.

[slapper]

So this is basically an overblown story about two guys who won the lottery.

Shit like this makes me scared for bitcoin and the rest of the coins that actually have a purpose, because when you can invest a few hundred dollars and see that investment turn into $1 million overnight, you know there's a mania going on--and that feeling of being manic doesn't last forever.  It never does, and it'll only take a small thing to send these speculators fleeing from the crypto market and cause bitcoin to crash.

I think people see what happened with doge and now think these ultra low-value, utter shitcoins can do the same thing.  They're just gambling on shitcoins the way idiots have done on Yobit for years now, except right now it's newsworthy.  Makes me want to slap my head and rip out my hair.

It is even more hilarious that millions of people are into this trend and start to invest in shitcoins. They do not realize that whales, influencers, and ridiculous billionaires control and manipulate the up and down of any shitcoins by easily making a nonsense statement such as: "Tesla decides to accept doge as a payment method"

If being rich is that easy, everyone in the world would be rich by now. In 2017-2018 period, I had a lot of opportunities to change my life and my wallet was as high as $500000 with a $10000 initial capital. Ironically, when bitcoin returned to $6000, my balance also returned to $20000 cause of recklessly entering any coin

[Vishnu.Reang]

I would have been happier, if the story was about two guys who became millionaires as a result of their investment in any real cryptocurrency. SHIBA INU is an overpriced shitcoin, like thousands out there. And remember that whenever someone is becoming rich as a result of these shitcoins, someone is becoming poorer as well. These guys are only able to sell their shitcoins at this rate, because someone else is purchasing them. And the buyer in all probability is going to end up in bankruptcy.

[Coyster]

These guys are only able to sell their shitcoins at this rate, because someone else is purchasing them. And the buyer in all probability is going to end up in bankruptcy.

For the buyers of this sort of cryptocurrency, it's all about "getting rich quick", and the only thing they need to draw their attention is hype and one or two success stories, it's basically almost the same thing as when the DeFi hype was in the crypto network, quite a lot of people invested, only to make "quick profits", but it wasn't to be as they invested in the wrong projects that was either a scam or was hacked; this caused quite a lot of people to lose their funds.

Some investors fancy shit/lottery coins to Bitcoin cause of the possibility of it turning their investments into something big, but that's only during the period of it's pump, the thing is it'll also dump sooner rather than later, thus that's the reason why coins with long term sustainability like Bitcoin is the better option for investors.