A 39-year-old who sold everything he owned in exchange for bitcoin – smart cat site bitcoin value

Didi taihuttu believes in bitcoin, and in a big way.

The 39-year-old has put his house up for sale — selling it in part for bitcoin — and now lives with his family on a campsite near venlo in the netherlands. All of his other items are for sale, too: the car, the motorbike, electric bikes, the children’s toys, clothing, shoes.

With the proceeds, taihuttu buys bitcoin and other cryptocurrencies, betting that it will make him rich.

“people will say,‘you’re crazy,’” taihuttu told business insider. “but we are an adventurous family and are going to gamble for a moment to live minimalist lives. If you never take a risk, life is boring.”

Taihuttu thinks digital coins such as bitcoin and the blockchain technology behind it are transforming the role of money and banks in society.

With blockchain, no third party is required to approve a payment — a role currently performed by banks — and a network of computers keeps a record of all transactions.Bitcoin value 2012

“the internet was a revolution for information. I think that blockchain and cryptocurrency are revolutionizing the monetary system,” says taihuttu. “in five years’ time, everyone will say: ‘we could have seen it coming.’ I am responding to this change now.”

Traveling the world for nine months

In the summer of 2017 taihuttu and his wife made the radical decision to sell everything. The couple have just returned from a nine-month world trip through asia and australia with their three daughters. The taihuttus’ visits included angkor wat in cambodia, swimming with dolphins near brisbane, and relaxing on the beach in thailand.

Early last year, taihuttu’s father, john, died from cancer aged 61. A year before, it became clear that the former professional football player was incurably ill.

“it was a difficult period,” says taihuttu, who ran his own company offering computer courses in venlo for 11 years.Bitcoin value 2012 “I had had it. I sold my business and we decided as a family to go travelling.”

The crypto-believers

During that journey taihuttu kept bumping into people who were using digital coins. In bali, he met a south african exchange trader who resigned after 17 years and went into crypto trading. And on the beach near noosa in queensland he spoke to someone from dubai who was trading in bitcoin.

Taihuttu kept in touch with them all. They maintain contact through skype, analyze the market daily, and trade cryptomints based on what they’re seeing in the price action.

“they are people who have a lot of experience in trading,” says taihuttu. “that is what I am still lacking a little.”

Taihuttu himself has been “in the coins,” as he says it, since 2010, when the currency was worth less than one euro.

“I am an entrepreneur, so when I first heard about bitcoin, I said: let’s do this.”

bitcoin value 2012

Minting bitcoin with dozens of computers

Along with a friend, taihuttu set up a physical business to mint bitcoin after buying dozens of computers and video cards. When the value rose to several hundred euros in 2013, he decided to sell the coins. The entire stock.

“if I had known then that four years later it would have been ten times more valuable, then of course I wouldn’t have sold everything,” says taihuttu now. “but then I thought: I have to make a profit.”

It wasn’t too much later when the value of bitcoin plunged and its value was no longer clear. Suddenly, taihuttu’s cost of electricity and property rental were too high.

Taihuttu then gave dogecoin, a smaller emerging currency, a go.

“I’ve had a tremendous amount of it, but that coin was worth nothing,” he says. “the portfolio that I had at the time was perhaps worth 200 euros.”

bitcoin value 2012

In the end, he stopped minting for two years.