The teenager who made millions on Bitcoin is staking it all on this obscure token

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  • Last Updated November 18th 5 Rich People Became Millionaires from Bitcoin Bitcoin has been huge news lately, with many people investing in it and seeing a great return on their money.
  • That said, there can be little doubt that a select number of pioneers have made a considerable fortune from their cryptocurrency investments.
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They expected him to start dabbling in stocks. Instead, he began buying cryptocurrencies like bitcoin and ethereum. Eddy, now 18, is a high school senior in Orange, Ohio, near Cleveland.

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He hopes to study dentistry next year at Case Western Reserve University. Photo courtesy of Eddy Zillan Bitcoin and other cryptocurrencies are suddenly the hottest investment since the dot-com bubble, after a stunning surge in value during the last year. Many crypto investors are reluctant to talk about their holdings, since alt-currencies are still associated with illicit activity, and they tend to appeal to non-traditionalists in the first place.

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But we found some willing to tell us their experiences. There are also plenty of detractors who insist cryptocurrencies are Ponzi schemes or worse. Yet regulators may soon bestow validity on cryptocurrencies by allowing broader investments, such as exchange-traded funds ETFsto track their value. The origins of bitcoin Bitcoin is a digital payment system launched in by a person or group using option purchase price name Satoshi Nakamoto.

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As more people buy in, that interest alone could send the crypto rally even higher. Disclosure: I own a small amount of bitcoin.

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But Bill Gates, Richard Branson, and Mark Cuban are believers, and many investors think bitcoin and other digital currencies are like the Internet in — a transformative technology about to erupt. The money is certainly real. Let us know! Email us at rickjnewman yahoo.

He and the seller made the transaction in bitcoin, without using a traditional bank.

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Saddington, who runs a cryptocurrency social network called TheBitcoin. Skupien, who is 55 and works as an executive at a Napa Valley winery, saw a friend ask about bitcoin in a Facebook post a few years ago.

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He sold all his coins to finance the car. The owner, however, refused to make any concession on price, which scotched the deal.

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Skupien decided to lease a much cheaper car instead. Edward Skupien of Sacramento has made far more on bitcoin than he has on the rest of his retirement plan—even with a booming stock market.

Experience: I made $1m on bitcoin – and lost it again

When the Mt. Gox digital exchange collapsed inmore than 24, customers lost essentially all their holdings.

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Some customers had dozens or hundreds of bitcoin stored at Mt. More than half of the respondents to our survey think bitcoin is currently overvalued.

The teenager who made millions on Bitcoin is staking it all on this obscure token

The obvious question now is whether the value of bitcoin will continue going up, or whether a speculative bubble is about to burst.

Counting on bitcoin Many early buyers think bitcoin is only getting started, and at some point will become a mainstream currency used routinely.

  • It is considered by many to be one of the most successful digital currencies ever created.
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At one point, he spent an people who made money on bitcoins paycheck buying bitcoin.