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How a Teenage Entrepreneur Built a Startup on Bitcoin Riches

smallbusiness.yahoo.com

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Re: How a Teenage Entrepreneur Built a Startup on Bitcoin Riches

#6

Post by quotient »

This doesn't detail "how" a teenage entrepreneur built a startup on BTC riches. It's not a very exciting story, either.

Here's what happened: in early 2012, he put all his money into Bitcoin. Then he cashed out when they peaked (probably around December 2013). Then he used the money to start yet another e-learning business/service.

I don't see what the point of this article is. He used money that was given to him to bet on speculate on a wildly fluctuating asset, and came out lucky. Now he's trying to invest his money sensibly. So what?

To me, the only interesting part of this article is that he pays most of his employees in Bitcoin. The rest is just fluff.

Re: How a Teenage Entrepreneur Built a Startup on Bitcoin Riches

#7

Post by Iftheshoefits »

cowbell wrote: post #2

Who gives $1000 to a 14 year old grandchild for Easter? #JustRichPeopleThings

Not necessarily. It was given to him by his grandmother. Perhaps she's divesting herself of some of her retirement funds for whatever reason (e.g. maybe is actually not all that well off but she wants her grandkids to "have something" but is anticipating losing all she owns in end-of-life care).

That said, there is little to this story that seems impressive to me. Regardless of whether his family is rich or not, being given $1000 for easter is a big deal when one is 14, and therefore most of the rest of this kid's story is better attributed to good luck than talent. What's impressive is that he didn't spend all the bitcoin-windfall on video games, apps, and trying to impress his friends.

Re: How a Teenage Entrepreneur Built a Startup on Bitcoin Riches

#8

Post by facepalm »

cowbell wrote: post #2

Who gives $1000 to a 14 year old grandchild for Easter? #JustRichPeopleThings

$1000 is not that much money. Grandmothers might figure that it's better to gift money while they are still alive, to save on inheritance tax (among other reasons).

Re: How a Teenage Entrepreneur Built a Startup on Bitcoin Riches

#9

Post by tomp »

Who would have thought... I've read about this boy a few days ago on Reddit (subforum Entrepreneur). Someone suggested that he should get his story in the media, because it's rather interesting (especially his age, and Bitcoin is still hot nowadays). A month later, here he is!

http://www.reddit.com/r/Entrepreneur/comments/25u81a/im_15_a...

Re: How a Teenage Entrepreneur Built a Startup on Bitcoin Riches

#10

Post by free2rhyme214 »

quotient wrote: post #6

This doesn't detail "how" a teenage entrepreneur built a startup on BTC riches. It's not a very exciting story, either. Here's what happened: in early 2012, he put all his money into Bitcoin. Then he cashed out when they peaked (probably around December 2013). Then he used the money to start yet another e-learning business/service. I don't see what the point of this article is. He used money that was given to him to…

I agree. It's not like he's that smart. Just smart enough.
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