3 STORIES, 3 LESSONS

The rapper, the absent-minded and the guy who thought he was a god

In 2014, fans could pay for rapper 50 Cent’s new album, Animal Ambition, using Bitcoin. He forgot about his crypto account for years, and just recently realized that he’s a Bitcoin millionaire. At the time, a Bitcoin’s value was around $650. His album’s crypto revenues were over $400,000. Having been untouched for years, 50 Cent’s Bitcoin earnings are now worth $6 to 7 million, even at recent low Bitcoin values.

50 Cent confirmed on Instagram and Twitter, saying, “Not bad for a kid from South Side, I’m so proud of me.”

Conclusion: Even your seemingly most ridiculous investment can be a lifebuoy one day. (There were rumours about 50 Cent going bankrupt before he found his Bitcoins…)


 

Philip Neumeier bought 15 Bitcoins for £190 in 2013. You could say it’s not that much. But who wouldn’t want 15 Bitcoins today? Neumeier has recently realized that he can't remember the codes to access his coins, and unlike an email account or an electronic bank account, there is no way to retrieve it.

He is, of course, desperate and he's considering hypnosis. He has already built a 5ft-tall "supercomputer" that works on cracking the code 24/7.

He told the Wall Street Journal it could take the machine several hundred years to run through all the possible password combinations. If he’s lucky it will take only 150-200 years.

Conclusion: Remember, there isn’t always a “click here to reset password” button…


 

An anonymous Reddit poster traded his way from $3,000 worth of Bitcoin to nearly $4 million before he lost every last cent recently. According to his story, he began when he won 3 Bitcoins in a poker game. He started trading and he slowly traded his way up to 200 Bitcoins, worth nearly $4 million at the peak of the Bitcoin market.

“I thought I was a trading genius, a god, whatever,” the poster wrote. And then he made a few ill-timed trades during the period of recent volatility. As he started to lose, he started to panic. One wrong call followed the other until he lost his last Bitcoin in the middle of January.

Conclusion: Even extremely experienced traders are struggling to predict crypto movements. When you think you are a god, think twice…

 

Sources:

https://www.theverge.com/2018/1/24/16930010/50-cent-rich-bitcoin-twitter-instagram-humblebrag

https://www.thesun.co.uk/news/5195319/distraught-bitcoin-investor-who-made-250k-off-200-investment-forgets-his-password-now-hes-built-a-supercomputer-to-work-out-the-correct-combination/

https://www.benzinga.com/markets/cryptocurrency/18/01/11087583/easy-come-easy-go-how-one-trader-made-and-lost-a-bitcoin-fortu

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