Advice for a Young Man with Bitcoin

CalTrade

Junior member
25 3
I have a relative who is 27 years old and lives at home with his parents.

He bought Bitcoin when it was not very prominent and thus got in very early. Sadly, one of his computers had an aissue and he lost half of his bitcoin. I can't explain it. It's a technical thing that i don't understand.

But, he tells me that he has about $450,000.00 worth of Bitcoin still on another computer.

This young man has no other assets of significance, lives at home with his parents and seems a little lost in life. What do you think would be good advice pertaining to his bitcoin? Part of me says he should liquidate some , if not , all of it and use the proceeds to buy some real property ( a home) that is tangible and that will be something more reliable.

Thoughts?
 

MasterOfCoin

Experienced member
1,228 480
I have a relative who is 27 years old and lives at home with his parents.

He bought Bitcoin when it was not very prominent and thus got in very early. Sadly, one of his computers had an aissue and he lost half of his bitcoin. I can't explain it. It's a technical thing that i don't understand.

But, he tells me that he has about $450,000.00 worth of Bitcoin still on another computer.

This young man has no other assets of significance, lives at home with his parents and seems a little lost in life. What do you think would be good advice pertaining to his bitcoin? Part of me says he should liquidate some , if not , all of it and use the proceeds to buy some real property ( a home) that is tangible and that will be something more reliable.

Thoughts?
Steal his computer.
Kidnap parents and demand ransom in bitcoin.
Persuade him to keep his bitcoin safer in your new cryptocurrency growth portfolio.


Or...

With that kind stake already, he could trade it and never have to work or worry again.
Cash out 50 Grand. Then;
Sell half when BTC tops 60 thou. Buy back when it drops back a few grand.
Repeat and cash out 50 Grand profit chunks.
Soon have own house with pool n porsche.

🏖️


And backup the damn wallet keys BEFORE the remaining computer has a meltdown.

:)
 
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Marcellus8610

Junior member
21 6
imo investing in bitcoin is only a long-term investment. I don't wanna say that you cannot speculate in bitcoin, but at the moment, I would wait until even more large players enter the crypto market and create price increases. In any case, your relative needs to write an investment plan and a money management plan and need to know exactly how much of the capital should be spent on real estate, for example, or self-education, etc.
 
G

Guest36985

0 0
I have a relative who is 27 years old and lives at home with his parents.

He bought Bitcoin when it was not very prominent and thus got in very early. Sadly, one of his computers had an aissue and he lost half of his bitcoin. I can't explain it. It's a technical thing that i don't understand.

But, he tells me that he has about $450,000.00 worth of Bitcoin still on another computer.

This young man has no other assets of significance, lives at home with his parents and seems a little lost in life. What do you think would be good advice pertaining to his bitcoin? Part of me says he should liquidate some , if not , all of it and use the proceeds to buy some real property ( a home) that is tangible and that will be something more reliable.

Thoughts?
Is he straight or gay? Asking for a friend. 😳
 

CalTrade

Junior member
25 3
Thank-you for all of your advice and the levity. Much appreciated.
 

CharlieSheen99

Newbie
6 0
At first i read 450M hahaha, and i thought....c'mon, take the f***ing money NOW.

Ok, what i do is this: Sell 50% of his assets to FIAT.
After that, sell in a DCA manner. Or sell a 10% every 10 thousands dollars.
 

maby8

Junior member
47 8
I would definitely cash out some of it and invest in property for instance. Diversification is important, and so he should look for other forms of investments especially since he is so young.
 

counter_violent

Legendary member
11,361 3,054
I have a relative who is 27 years old and lives at home with his parents.

He bought Bitcoin when it was not very prominent and thus got in very early. Sadly, one of his computers had an aissue and he lost half of his bitcoin. I can't explain it. It's a technical thing that i don't understand.

But, he tells me that he has about $450,000.00 worth of Bitcoin still on another computer.

This young man has no other assets of significance, lives at home with his parents and seems a little lost in life. What do you think would be good advice pertaining to his bitcoin? Part of me says he should liquidate some , if not , all of it and use the proceeds to buy some real property ( a home) that is tangible and that will be something more reliable.

Thoughts?

Is the knackered computer for sale?

I could give him a tenner for it +p+p.
 

Henow1969

Well-known member
317 42
I think he can hold Bitcoin for better living standards in the future because the price of bitcoin can rise again but if still, he has doubt in his mind then he withdraws and can invest in other businesses and real estate would be a great choice.
 

progix

Well-known member
300 8
Trading can be a good option however learning how to trade is important otherwise, that said sum of money will be lost within no time.
 
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sebking1986

Well-known member
300 92
Skim off some in order to buy into property or other investments and leave the rest. Just reduce his risk exposure and diversify a bit.
 

WalletInvestor

Active member
133 37
Do you have any updates on what happened to him since CalTrade? MasterOfCoin's advice was very good. Also, I would start by making sure that his bitcoins are stored in a secure but accessible way so he doesn't end up losing any more.
 

Jungletrader

Member
95 14
Sell off some at 100k .
Consider investing into AI stocks the Metaverse project also Eco stocks are green energy investment set to rise exponentially
 

pathsofglory

Junior member
21 0
If he wants to protect his remaining bitcoins then it’s good to store them in a cold wallet and just forget about it. However, to make those bitcoins generate profits for him, he should consider trading them. Sell when Bitcoin is at its peak and buy again when it’s at the lowest price. The profits earned can be used to buy more bitcoins or any other asset.
 
 
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