15-Year-Old Makes $100,000 on Bitcoin

[deepestfear]

Good for him though he likely sold too soon!

[innocent93]

There is another 15-year-old kid who named Gong Jianhui ,he owned above tens thousands(It's said the number is five-figure sum) Bitcoins.
It's said he bought some video cards and mined Bitcoin in 2010.He is too young to go to high school but he dropped out now and started his own company.

You can check his weibo : http://weibo.com/gongjianhui

[boumalo]

Nothing wrong with taking profits, but to exit the Bitcoin market entirely seems a bit hasty. 

Kid has got a head start on life, but $100k isn't very much especially after taxes.

Long Terms Caps Gain Tax is something like 15%. Even if the tax guys take a cut of $15,000, he will be left with the remaining $85,000. More than enough to start a new venture, IMO.

He can retire @ 45 if he invested it wisely now

His new business is https://botangle.com/how-it-works : Joined members 1304 Botangle with a B like Bitcoin; it will sell for millions once it picked up

The site looks very professional. I think the kid hired staff to help him run the site.

Yes most definitely, it looks very profesionnal and it is actually a great idea and very user friendly

[Nerazzura]

15-Year-Old Makes $100,000 on Bitcoin
http://mashable.com/2014/06/10/botangle/

do not think a child that young age has a great mind and dare to exchange all the money for bitcoin. and he lived to enjoy the results now.
we are not too late to do the same, and we see the results the next few years

[salmondance]

Good for him, hope he doesnt spend it on drugs.

[thefuture]

He sold when BTC was at 1,050 (+-) each, though many say he shouldn't of sold 100% of his coin, he made a smart move at the moment. currently he can reinvest from the profits of his business into BTC at $600 (+-) pay his employees and keep some for when they increase in price again, repeat and continue. If you simply just Hold with something that has no given 100% of growth or failure you may get nowhere.

[boumalo]

He sold when BTC was at 1,050 (+-) each, though many say he shouldn't of sold 100% of his coin, he made a smart move at the moment. currently he can reinvest from the profits of his business into BTC at $600 (+-) pay his employees and keep some for when they increase in price again, repeat and continue. If you simply just Hold with something that has no given 100% of growth or failure you may get nowhere.

Market cap is 8Billions, the potential is in the tens of billions then in the hundreds of billions without being too bullish

It could also fail

I hope his business will succeed, I will keep an eye on it

[Stery]

Thats really great to hear.

He made wise decision buying btc when the rate was lowest.

[Ghris]

Awesome! I think it's great that he sold when the btc were high. He obviously made a good investment with it. And he is still the BTC enthousiast he was, paying his employees in BTC most of the time. Probably means he bought a bunch back @ current pricings.

[boumalo]

Awesome! I think it's great that he sold when the btc were high. He obviously made a good investment with it. And he is still the BTC enthousiast he was, paying his employees in BTC most of the time. Probably means he bought a bunch back @ current pricings.

Are you the guy in question? 

Of course he still is the Bitcoin enthousiast he was, it wouldn't make sense otherwise

[Azgalush]

If only he had waited.

[Ghris]

Awesome! I think it's great that he sold when the btc were high. He obviously made a good investment with it. And he is still the BTC enthousiast he was, paying his employees in BTC most of the time. Probably means he bought a bunch back @ current pricings.

Are you the guy in question? 

Of course he still is the Bitcoin enthousiast he was, it wouldn't make sense otherwise

I kinda wish haha. But it's cool that he sticks to bitcoin as a means to pay out his employees right? Gets the word out

[Bitcoin Magazine]

i have $1,200,000 should i launch startup

[boumalo]

how lucky him, make 100x profit from bitcoin's increasing price
really envy with early adopters of bitcoin

You can envy People more good looking than you or luckier than you but what's the point?

[Musent]

15-Year-Old Makes $100,000 on Bitcoin
http://mashable.com/2014/06/10/botangle/

WOW, great story!

[Nik1ab]

And he used the currency all for himself... greedy bastard.

[redhatcc]

That is a very cool story. There is a good chance he regrets selling his BTC though.

Haha, that is true. But there was the chance to cash out and take the winnings vs loosing the money already made. At this point I can't say I blame him...

[chaosPT]

That is a very cool story. There is a good chance he regrets selling his BTC though.

Haha, that is true. But there was the chance to cash out and take the winnings vs loosing the money already made. At this point I can't say I blame him...

You sure he just cash out and dint cash in any more ?

May be he did cash out at high price and cash in low price and now cash out waiting for another moment again 

[boumalo]

Could have been $1mn if he had held on. Perhaps should have.
Arguably....

He can probably still buy back some at a cheaper price and I doubt he doesn't have any left

[KonstantinosM]

Could have been $1mn if he had held on. Perhaps should have.
Arguably....

He can probably still buy back some at a cheaper price and I doubt he doesn't have any left

What he is doing is improving the lives of people like him, students that want to learn things that aren't taught where he lives.

Instead of speculating all day long he is actually trying to start a business. He already turned 1k to 100k.

What is being created here is another platform for online tutoring with chat, video and a shared whiteboard. I haven't used the site but I might.

Using the site you could get tutored by someone who graduated with honors for Computer science or someone who has worked years in animation etc.

That being said he could have held and 3 possible scenarios would happen. 1. Bitcoin price would have a temporary drop 2. Bitcoin price could remain the same for up to 3 years. 3. Bitcoin price could rise

So given that he had enough money to start his business I think he chose correctly. And who is to say he doesn't still have a few BTC stashed away?