deepestfear
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June 20, 2014, 06:29:42 AM |
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Good for him though he likely sold too soon!
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innocent93
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June 20, 2014, 06:56:36 AM |
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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
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boumalo
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June 20, 2014, 06:59:31 AM |
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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 ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) 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 ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) 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
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Nerazzura
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June 20, 2014, 07:21:01 AM |
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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
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salmondance
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June 20, 2014, 07:23:20 AM |
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Good for him, hope he doesnt spend it on drugs.
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thefuture
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★☆★777Coin.com★☆★ What are you waiting for?
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June 20, 2014, 01:37:14 PM |
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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.
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boumalo
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June 20, 2014, 02:13:12 PM |
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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
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Stery
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June 20, 2014, 02:25:24 PM |
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Thats really great to hear.
He made wise decision buying btc when the rate was lowest.
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Ghris
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June 20, 2014, 02:29:11 PM |
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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.
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boumalo
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June 20, 2014, 06:26:59 PM |
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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? ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Of course he still is the Bitcoin enthousiast he was, it wouldn't make sense otherwise
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Azgalush
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June 20, 2014, 08:27:41 PM |
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If only he had waited.
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Ghris
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June 20, 2014, 09:27:38 PM |
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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? ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) 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 ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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Bitcoin Magazine
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June 20, 2014, 10:02:57 PM |
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i have $1,200,000 should i launch startup
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i am here.
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boumalo
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June 20, 2014, 10:11:13 PM |
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how lucky him, make 100x profit from bitcoin's increasing price really envy with early adopters of bitcoin ![Sad](https://bitcointalk.org/Smileys/default/sad.gif) You can envy People more good looking than you or luckier than you but what's the point?
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Musent
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June 20, 2014, 11:37:15 PM |
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Nik1ab
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June 21, 2014, 09:07:31 AM |
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And he used the currency all for himself... greedy bastard.
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No signature ad here, because their conditions have become annoying.
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redhatcc
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June 21, 2014, 09:32:59 AM |
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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...
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chaosPT
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June 21, 2014, 09:35:55 AM |
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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 ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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boumalo
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June 21, 2014, 10:47:03 AM |
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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
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KonstantinosM
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June 21, 2014, 11:30:07 AM |
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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?
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Syscoin has the best of Bitcoin and Ethereum in one place, it's merge mined with Bitcoin so it is plugged into Bitcoin's ecosystem and takes full advantage of it's POW while rewarding Bitcoin miners with Syscoin
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