Monday , November 30 2020

He pledged his house to buy Bitcoin for $ 20,000 and lost almost everything CriptoNoticias



Things in R.Y.'s life they were pretty monotonous in 2017. I was a developer and I had spent years studying the Bitcoin code. But he did it only to promote the development of his company's financial technology.

He had not been fully interested in Bitcoin technology, even though he shared his ideals of decentralization. He did his work for a private company as a machine that betrayed his cypherpunk principles. But he woke up when he saw that the price of cryptoactive was rising. R. Y. He was the father of two children, and his partner was a nurse. Between them they performed double shifts in order to pay the bills.

R. Y. He invested in BTC in the last quarter of the year and gave a profit that his work on a rather unfair salary had not given him before then. Despite being aware of the operation of Bitcoin, he clearly saw it as a business. He decided to leave his job in November 2017.

The graphs were favorable for the price of the BTC and its profits trade they were reason enough to believe that good times would not stop. But he wanted his children to have the best Christmas of all, so he made a quick decision that would completely change the life of his life. Without hearing Sophie she took the deeds of the house where they lived, as she had inherited in the center of town, and He pledged it for $ 7,000.

With the money from the mortgage loan, part of the savings and the previously earned earnings, he raised a total of 0.5 BTC in his cold portfolio. For December 17, 2017, with BTC valued at USD20 thousand, these translated into $ 10 thousand. I was planning to double the figure very soon.

But from 20,000 BTC went down to 19,000 in a day. R. Y. he thought it was a small setback in the price, as it had happened on December 10, when Bitcoin was from 17,000 to 13,000. So it would be a matter of time for BTC to recover and pay off. He stopped his operations trade and he dedicated himself to being holder (The one who keeps his crypto assets is waiting for a significant increase in the price) while bitcoin did its thing.

That Christmas all worked normally, the kids received their gift with what was left of the savings, and Sophie didn't think they were losing everything. However, R.Y. he could not stand the pressure and He confessed everything in late January 2018. At that time, BTC was already at $ 11,000. Sophie took the children to her mother's house before they took them to the street so as not to pay the mortgage.

R. Y. He was deeply depressed and was taking his own life, but the love he felt for his children was stronger than that. He had to do something to get his family back. Having experience with the development of financial technology, he accepted an open source Apps development job for a company that would give him a salary of over $ 4mil. Month.

When the government finally seized the house, his friend Jhon let him sleep in one of the furniture in his living room. I saw the kids on the weekends, and although Sophie still loved him deeply, she only led the necessary words regarding children's care.

Jhon, worried about the mental stability of R.Y., paid for psychiatric treatment with a specialist in financial loss. On the recommendation of this, R.Y. continue to trade. but this time not with bitcoin but with altcoins. R. Y. He also left irregular behavior as Bet all your money on a single cryptoactivea problem that had been fatal to him.

R. Y. He used the strategy for scalping, looking for small profits in operations that last a very short time. To make them, he used the technique of leverage. This consists of operating with more money than is actually available. For this, it broker provides a temporary loan. This allows you to trade in positions greater than the funds you have in your account.

In order for the lever to be safe, sufficient risk management was necessary, which R.Y. he did not hesitate to complete. So, R.Y. programmed his broker with stop loss ("Stop loss" in Spanish), so the system knew how much I was willing to lose. The gains from this type of strategy, however, were very low in a crypto-active market with a downward trend that characterized 2018.

R. Y. He did not stop saying that trading was a good business, but he was trying something else. When I had spent years studying the Bitcoin code, He decided to dedicate himself to his development. For several months he has designed a Bitcoin Improvement Proposal (BIP), which was discussed on the Bitcoin Core email list at the Linux Foundation. Once discussed, a formal draft that was reviewed by the community was maintained and sent to the BIP editor created at GitHub. The proposal, which did not involve an irreversible change in the software, consisted in this final step and was assigned a number, category and integrated into the Bitcoin repository.

Like R.Y. Demonstrated a deep knowledge of the Bitcoin code as well as a legitimate concern for maintenance. It was named by a development laboratory founded in 2014. Prepared by other Bitcoin Core developers, this laboratory would be designed to support and maintain Bitcoin and other pair exchange systems in a decentralized manner. R. Y. He was hired by this company, which offered him a stable income.

The money obtained was enough to have a good quality of life, and after two years Sophie and the children were already with him. They gathered in front of the Christmas tree, which the embargo had not taken. On the table, a semi-finished pizza was cooled, which the children had not wanted because of the taste of the anchovies. In a secret room on one of his legs he waited for a cold wallet with 4 BTC. Our protagonist began telling his children how both elements reminded him that his poor financial decisions were about to take away what was really important.

Highlighted image of pathdoc / stock.adobe.com


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