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Meet the Man Traveling the World on $25M of Bitcoin Profits

forbes.com

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Re: Meet the Man Traveling the World on $25M of Bitcoin Profits

#21

Post by omarchowdhury »

feelix wrote: post #20
3131s wrote: post #3

I had a couple thousand Bitcoin once, but then I bought a lot of drugs :( I calculate how much it would have been worth every once and a while -- obviously it's been 1+ million USD for a while now. Alas, I actually need to work to get money.

Buying drugs is arguably the most efficient use of money. Considering that the only reason we purchase things is to ultimately get more endorphins released by our brains. Drugs can directly hack that system.

Dopamine outta wack, son. It's not always feel good.

Re: Meet the Man Traveling the World on $25M of Bitcoin Profits

#23

Post by chrissnell »

puranjay wrote: post #10

I sold a domain back in 2011 where the buyer offered to pay via Bitcoin. It was a decent sized transaction. I don't remember the exact exchange rate but it would have likely been upwards of 1,000 BTC. I took cash instead. I still look back on that and think "what if?"

At least you sold it. I registered a bunch of great domains when I was a college freshman in 1993. They were free to register, you only had to submit a form via email. I had, amongst others:

grateful.com eleet.com cjs.com snell.com

When Network Solutions won the contract to administer them, they started charging $70/year/domain and I was a poor student and let almost all of them lapse. I lost all of those ones. The only ones I kept were bikeworld.com (registered it for my dad's company) and chrissnell.com. Never made a dime off a domain.

Re: Meet the Man Traveling the World on $25M of Bitcoin Profits

#24

Post by taneq »

feelix wrote: post #20
3131s wrote: post #3

I had a couple thousand Bitcoin once, but then I bought a lot of drugs :( I calculate how much it would have been worth every once and a while -- obviously it's been 1+ million USD for a while now. Alas, I actually need to work to get money.

Buying drugs is arguably the most efficient use of money. Considering that the only reason we purchase things is to ultimately get more endorphins released by our brains. Drugs can directly hack that system.

Probably cheaper to get a droud fitted.

Re: Meet the Man Traveling the World on $25M of Bitcoin Profits

#25

Post by 9to5isdead »

fapjacks wrote: post #17
pmorici wrote: post #9

Earlier quoted context omitted.

"What's that tell you?" It's about to go mainstream.

It "already" went mainstream in 2012-2013. This is a second speculation bubble. It tells you to get out before it comes crashing down, because it will.

Or to get ready to buy when it does. :)

Re: Meet the Man Traveling the World on $25M of Bitcoin Profits

#26

Post by xur17 »

windlep wrote: post #14
ilugaslifk wrote: post #12

Earlier quoted context omitted.

How is this significantly different than any other publicly extremely wealthy person? ... I guess liquidity?

It's worse than just liquidity, if he can unlock his wallet on his phone to verify it and its balance on the spot.... not only is it liquid but he's effectively carrying it on himself in cash at all times. At least it's only $2.5 million or so remaining, since the rest is now likely in assets that require more effort than merely access to this person+phone (and attempts to rob a person of assets in a bank are usually…

If he's smart he's storing his remaining balance in safety deposit boxes, etc rather than all on his phone.

Re: Meet the Man Traveling the World on $25M of Bitcoin Profits

#27

Post by pmorici »

fapjacks wrote: post #17
pmorici wrote: post #9

Earlier quoted context omitted.

"What's that tell you?" It's about to go mainstream.

It "already" went mainstream in 2012-2013. This is a second speculation bubble. It tells you to get out before it comes crashing down, because it will.

No, I don't think you understand the scale we are talking about here if this becomes a world wide common digital currency. Your political dogma is getting in the way of you understanding what Bitcoin's real potential is.

Re: Meet the Man Traveling the World on $25M of Bitcoin Profits

#28

Post by Grustaf »

ilugaslifk wrote: post #12
hkmurakami wrote: post #2

>Mr. Smith—who asked me to conceal his real name Thank goodness, since being identified is basically asking to be kidnapped depending on which countries he is visiting.

How is this significantly different than any other publicly extremely wealthy person? ... I guess liquidity?

The difference is that people who got rich through business are already well known, so it’s too late for them. This guy has the option to stay hidden, so he takes it.

Re: Meet the Man Traveling the World on $25M of Bitcoin Profits

#29

Post by Veratyr »

rv77ax wrote: post #16

The only question on my mind: where did he cash his money? Or, who has big cash to redeem his Bitcoin with million dollars transaction?

It's unlikely that he did it in a single transaction, he more likely split it up over a few days. Even a year ago, Bitcoin daily exchange volume was ~$160M, so he wouldn't have had too many problems.

Re: Meet the Man Traveling the World on $25M of Bitcoin Profits

#30

Post by rbudenebd »

Grustaf wrote: post #28
ilugaslifk wrote: post #12

Earlier quoted context omitted.

How is this significantly different than any other publicly extremely wealthy person? ... I guess liquidity?

The difference is that people who got rich through business are already well known, so it’s too late for them. This guy has the option to stay hidden, so he takes it.

People who make $25b are well known. People who make $25m in business are not.
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