Bitcoin Millionaire: Top 5 Bitcoin Millionaires

Last updated on January 2nd, 2018 at 12:00 am

Bitcoin millionaire – bitcoins are truly taking a place among the financial world and everyone wants to know all about the celebrities of the industry. These are the people that have reached the bitcoin millionaire investors club. They did not do it by being a hedge fund manager or by selling the latest greatest product. They became millionaires by purchasing, mining, and trading the cryptocurrency.

The number of actual bitcoin millionaire investors is not known. Bitcoins are contained in virtual wallets and while the number of wallets and the amounts they contain is public knowledge, the people who own these wallets are protected. Considering that people can have as many wallets as they want, it is impossible to say that all the wallets belong to individuals.

Bitcoin Millionaire: List of Individual Bitcoin Millionaires

Bitcoin millionaire Jered Kenna purchased his first batch for $0.20 a piece. He traded them for approximately $258 a piece. This was just the first batch of coins. He lost approximately $200,000 in 2010 when he reformatted his drive. Something that can happen when you are dealing with cryptocurrency he did not worry about the loss, though he would not disclose his actual worth.

Facebook Litigants the Winklevoss twins became investors in the market, according to the New York Times they have amassed $11 million from their investment. The Winklovess twins joined the Bitcoin millionaire club even before bitcoin was made popular and known to the public.

Charlie Shrem found bitcoins in 2011; he purchased his first batch for between $3-4 a piece. He purchased thousands more when they increased to $20. He then started a company BitInstant that allows people to purchase Bitcoins in physical stores.

Roger Ver, he invested in BitInstant and then started not only purchasing but giving Bitcoins away. He sees it as a reliable store of value. He does everything these days in Bitcoins.

Yifu Guo began mining coins when he was a student at New York University. He then founded Avalon. Avalon is a company, which is dedicated to building the necessary equipment for data mining required for bitcoins. The goal to further the spread of Bitcoins and help to ensure the network is available over the long term.

Topy Gallippi CEO of BitPay includes Bitcoins in his portfolio right along with his real estate, bonds and stocks. His company is a payment processing company that handles Bitcoin processing.

As previously mentioned, due to the way the bitcoins are stored it is impossible to have a clear understanding of just how many of the wallet owners are actual millionaires. The millionaire status comes from the amount of hard versus cryptocurrency they would hold if they were to cash in their bitcoin holdings.

8 Bitcoin Millionaires: from geeks to rich gurus

Last updated on January 2nd, 2018 at 12:00 am

They are young, they are rich, they are the Bitcoin millionaires! We already talked about some of them in the past at Bitcoin Examiner, but let’s take a closer look into the sweet world of the cryptocurrency millionaires.

1. Charlie Shrem

Charlie Shrem is only 23 years old, but he’s already a millionaire. He’s the co-owner of Evr, one of the most famous gastro pubs in Manhatan and one of the few establishments that accept Bitcoin in the area, and the founder of the exchange platform Bitinstant. Find out more about his story here.

2. Roger Ver

3. Winklevoss twins

The Harvard-educated twins, forever connected to the creation of Facebook, are said to be the owners of 1 percent of all the existing Bitcoins. Besides, the Winklevoss brothers are now launching their new Bitcoin exchange-traded fund. Read more about this here.

4. Jered Kenna

The founder and Chief Executive Officer of Tradehill got involved in the Bitcoin exchange in 2009. Jered Kenna also owns the 20Mission “hacker hotel” located in the Mission District of San Francisco.

5. Peter Vessenes

The CEO of CoinLab lives in Seattle (USA) and is one of the greatest personalities in our Bitcoin millionaires list.

6. Yifu Guo

Yifu Guo is the founder of Avalon, a company that produces ASIC-based Bitcoin miners. The entrepreneur and Bitcoin expert got involved with Bitcoin in 2011.

7. Bruce Wagner

The ex-host of The Bitcoin Show has made a huge amount of money thanks to cryptocurrency. Bruce Wagner was frequently linked to the episode “MyBitcoin scam”, but no one found no evidence of the connection.

8. Mark Karpeles

The well-known founder and CEO of the biggest Bitcoin exchange platform in the world, the Japanese-based Mt. Gox, got very very rich thanks to cryptocurrency. Mark Karpeles was one of the first entrepreneurs to bet on Bitcoin.

If You Bought $5 of Bitcoin 7 Years Ago, You'd Be $4.4 Million Richer

Seven years ago, the value of a single bitcoin was worth a quarter-of-a-cent. Today, that single bitcoin is worth upwards of $2,200.

Monday marked the seventh anniversary of what is said to be the first recorded instance of bitcoin used in a real world transaction. Over the course of seven years, bitcoin’s value has multiplied 879,999 times over since 2010. If an investor had decided to spend five dollars back then on about 2,000 bitcoins, that stake would be worth $4.4 million today. With $1,200 spent on some 480,000 bitcoins, the investor would be worth at least $1.1 billion today.

The early months of 2017 have been particularly heady days for bitcoin. Since the beginning of the year, the value of the cryptocurrency has surged as it gains legitimacy in countries like Japan. Investors have also come to see the currency as something of a safe haven asset amid geopolitical turmoil — and there’s been plenty of that in recent months, in both Europe and the United States.

And that first transaction? A software programmer on “Bitcoin Talk” known as Lazlo Hanyecz offered to 10,000 bitcoins for a couple of pizzas. For a least three days, no one took bite of the offer, with Hanyecz writing: “So nobody wants to buy me pizza? Is the bitcoin amount I’m offering too low?”

A user eventually paid about $25 for two pizzas. In today’s bitcoins, those pizzas cost Hanyecz $22 million.

So You Want To Become A Bitcoin Millionaire?

Last Updated on December 20, 2017 Matthew Vint 1 Comment
This article contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For an explanation of our Advertising Policy, visit this page.

When you think of trading or investing, you probably think of stocks and bonds. You might also think of commodities, currencies and whatnot. But strolling into a mutual fund manager's office and mentioning Bitcoins would probably get you an odd look, assuming he or she is not an avid reader of TechCrunch.

Introduced in 2009, the electronic currency Bitcoin is exchanged through its own payment network. The Bitcoin can be stored in a virtual wallet and has been described as a cryptocurrency; a decentralized, peer-to-peer currency which relies on cryptography to facilitate currency generation and transactions. To prevent double-spending, computers known as “miners” receive transaction fees and free Bitcoins in exchange for running a proof-of-work system.

If you're just looking on how to invest in Bitcoins, sign up with Coinbase and get started. By using THIS LINK you'll get $10 in bitcoins after you buy $100 in Bitcoins.

If you don't like this idea – check out Stockpile. You can buy fractional shares of Bitcoin using the fund GBTC. You get $5 for free by opening an account at Stockpile here.

Now, if you're looking to become a Bitcoin millionaire, keep reading.

“Do You Take Bitcoins?”

The Bitcoin is essentially a speculative vehicle for geeks. Basically, do not eat out and expect to pay for the meal with Bitcoins. Not long ago you could have bought illicit drugs with the currency, but the FBI closed down “Silk Road” earlier this year, which allowed people to buy illegal substances anonymously.

Some legitimate vendors have taken to Bitcoin, allowing customers to purchase real products and services with the digital currency. Richard Branson of the Virgin Group has even decided to accept Bitcoins through his Virgin Galactic. Reddit allows you to use Bitcoin to buy Reddit Gold. Yes, you can't buy your everyday groceries with Bitcoins, but you can buy a trip to space. While some everyday vendors have looked into accepting Bitcoins too, most of the demand for the currency has been fueled by speculators, rather than early adopters.

If you're looking to use Bitcoin to pay for stuff, you need a Bitcoin wallet like Coinbase. It's a simple website/app that allows you to securely store your Bitcoins and sell them.

With so much volatility, using Bitcoins in everyday life would be extremely risky anyway. Buying a TV for $1,000 might have cost up to 10 Bitcoins last month and just one Bitcoin now. With such volatility, any serious commerce conducted with Bitcoins is likely to result in one party losing out on a lot of value. So right now, the cryptocurrency is realistically just a tool for speculation. Coinbase is one of the major Bitcoin exchanges, which allows you to buy and sell Bitcoins as you please. You sign up, deposit real-world money and exchange the currency with relatively low fees.

Bitcoin's Bullish History

First, let's take a look at the price history. According to Bitstamp, as of today the market capitalization is over $12B with over 12 million Bitcoins in the system. Until 2013, Bitcoins were trading for either less than $10 each or not much over. As soon as 2013 started, Bitcoins seemed to ever-increase in value until April 9 where they peaked at well over $200. By April 16, Bitcoins had lost almost half their value.

Since April, Bitcoins have made a ridiculous comeback. Bitstamp shows that the price of a Bitcoin didn't reach its previous peak until November this year. However, in this same month, Bitcoins surged up to well over $1,000 a piece.

Right now, they seem to be fluctuating. Of course this is all speculative. You can make all the predictions you want, but no one knows what the future holds for Bitcoin. Is it just a fad or could Bitcoin genuinely develop into an everyday currency? If it really took off, would the government not just ban it completely? Only time will tell, but for now let's speculate.

As of December 2017, the price of Bitcoin is past $18,000 – some people have made millions and billions investing in Bitcoin. Furthermore, there have been hard forks (i.e. splits) into things like Bitcoin Cash, which also have boosted people's profits.

How To Make A Million With Bitcoins

You have two options: mine or trade. By mining for Bitcoins, as long as the markets remain active you can basically make money for nothing. But the problem is, mining is such a tough gig now that it is hardly worth it. Turning your computer into a miner will likely make it noisy and heat up. It would likely take you a long time to even mine a single Bitcoin, by which time you probably would have spent more on electricity. However, if you have access to some serious computing power and you don't have to pay the bills, you could make some easy money here.

The more realistic way of making a million with Bitcoins is going to be trading them through the most prominent exchanges, such as Coinbase. Back in 2011, you could have bought Bitcoins for $10. Selling them at $1,000 today would have delivered a profit of $990 per Bitcoin. Basically you should have bought about 1,000 Bitcoins back when they were cheap. This would have cost you around $10,000 in 2011, making you a millionaire today.

Making a million with Bitcoins today is probably still possible, but you will need some capital. Bitcoins can fluctuate many percentage points every day (on May 22, 2017 the price jumped up 10%). Day trading Bitcoins is going to be risky, but where is there is volatility there is opportunity. Otherwise, you need to take a longer-term approach and conclude whether or not you think Bitcoin will be successful. If you think Bitcoin is going to be traded by foreign exchange dealers, market makers and institutions one day, you might want to go long. Buying right now would be incredibly risky; the price chart is screaming “bubble”, but your point of entry is up to you. Don't expect to see more of the same fast growth now though.

On the other hand, if you have a strong conviction in the downfall of the Bitcoin, you need to short the cryptocurrency in any way you can. This would be an extremely risky endeavor still, but if the Bitcoin market is truly destined for failure, why not get rich when the bubble pops? To short Bitcoin, you will either need to get creative or join an exchange which allows you to do so.

Other Ways To Invest In Bitcoin

It's important to remember that Bitcoin is a currency – not a stock or bond. This means that “investing” in it is like investing in a currency. You're essentially hoping the value of Bitcoin relative to your native currency goes up.

The easiest way to invest in Bitcoin is to simply get a Bitcoin wallet and buy Bitcoins. We recommend Coinbase for U.S. investors – it's the easiest, links to your bank account, and allows you to buy and sell Bitcoins. Plus, if you buy $100 USD in Bitcoins, Coinbase will give you a $10 bonus! That's awesome.

If you want to invest in an ETF through your broker, check out the GBTC at Stockpile. This ETF tracks Bitcoin, and you can invest in fractional shares. Get started at Stockpile and get $5 for free. Start here.

But What If I'm Sane?

If you are a sane individual, Bitcoins probably don't excite you too much. The risk/reward profile of the Bitcoin market is not going to be very appealing to the savvy investor. This is just a chance to either make a quick buck, or lose everything. Bitcoins may well take off in the real-world in the future, but then again what would stop another cryptocurrency from emerging and defeating the Bitcoin, especially if it was indeed better?

So in conclusion, if you want to be a Bitcoin millionaire, you need to hijack someone else's hardware and get mining for an extended period of time (and cash out before you get penalized or arrested). Failing that, you need to either day trade Bitcoins and take advantage of the short-term price volatility, or make an extremely risky long or short bet on the long-term success or demise of the Bitcoin.

By shorting, you might be able to make money on the downside in the short-term too if the so-called Bitcoin bubble is about to burst. On the other hand if you are sane, it's probably wise to just sit back and watch the chaos unfold.

US Search Mobile Web

Welcome to the Yahoo Search forum! We’d love to hear your ideas on how to improve Yahoo Search.

The Yahoo product feedback forum now requires a valid Yahoo ID and password to participate.

You are now required to sign-in using your Yahoo email account in order to provide us with feedback and to submit votes and comments to existing ideas. If you do not have a Yahoo ID or the password to your Yahoo ID, please sign-up for a new account.

If you have a valid Yahoo ID and password, follow these steps if you would like to remove your posts, comments, votes, and/or profile from the Yahoo product feedback forum.

Vote for an existing idea ( )
or
Post a new idea…

Hot ideas
Top ideas
New ideas
Category
Status
My feedback

Improve your services

Your search engine does not find any satisfactory results for searches. It is too weak. Also, the server of bing is often off

I created a yahoo/email account long ago but I lost access to it; can y'all delete all my yahoo/yahoo account except for my newest YaAccount

I want all my lost access yahoo account 'delete'; Requesting supporter for these old account deletion; 'except' my Newest yahoo account this Account don't delete! Because I don't want it interfering my online 'gamble' /games/business/data/ Activity , because the computer/security program might 'scure' my Information and detect theres other account; then secure online activities/ business securing from my suspicion because of my other account existing will make the security program be 'Suspicious' until I'm 'secure'; and if I'm gambling online 'Depositing' then I need those account 'delete' because the insecurity 'Suspicioun' will program the casino game 'Programs' securities' to be 'secure' then it'll be 'unfair' gaming and I'll lose because of the insecurity can be a 'Excuse'. Hope y'all understand my explanation!

chithidio@Yahoo.com

i dont know what happened but i can not search anything.

Golf handicap tracker, why can't I get to it?

Why do I get redirected on pc and mobile device?

Rahyaftco@yahoo.com

RYAN RAHSAD BELL literally means

Question on a link

In the search for Anaïs Nin, one of the first few links shows a picture of a man. Why? Since Nin is a woman, I can’t figure out why. Can you show some reason for this? Who is he? If you click on the picture a group of pictures of Nin and no mention of that man. Is it an error?

Repair the Yahoo Search App.

Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.

I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.

I contacted Samsung thru their Samsung Tutor app on my phone. I gave their Technican access to my phone to see if there was a problem with my phone that stopped the Yahoo Search App from working. He went to Yahoo and I signed in so he could try to fix the Yahoo Search App not working. He also used another phone, installed the app from the Google Play Store to see if the app would do any kind of search thru the app. The Yahoo Search App just wasn't working.

I also had At&t try to help me because I have UVERSE for my internet service. My internet was working perfectly. Their Technical Support team member checked the Yahoo Search App and it wouldn't work for him either.

We can go to www.yahoo.com and search for any topic or website. It's just the Yahoo Search App that won't allow anyone to do web searches at all.

I let Google know that the Yahoo Search App installed from their Google Play Store had completely stopped working on May 18, 2018.

I told them that Yahoo has made sure that their Yahoo members can't contact them about anything.

I noticed that right after I accepted the agreement that said Oath had joined with Verizon I started having the problem with the Yahoo Search App.
No matter what I search for or website thru the Yahoo Search App it says the following after I searched for
www.att.com.

WEBPAGE NOT AVAILABLE
This webpage at gttp://r.search.yahoo.com/_ylt=A0geJGq8BbkrgALEMMITE5jylu=X3oDMTEzcTjdWsyBGNvbG8DYmyxBHBvcwMxBHZ0aWQDTkFQUEMwxzEEc2VjA3NylRo=10/Ru=https%3a%2f%2fwww.att.att.com%2f/Rk=2/Es=plkGNRAB61_XKqFjTEN7J8cXA-
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED

I tried to search for things like www.homedepot.com. The same thing happened. It would say WEBPAGE NOT AVAILABLE. The only thing that changed were all the upper and lower case letters, numbers and symbols.
Then it would again say
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED

This is the same thing that happened when Samsung and At&t tried to do any kind of searches thru the Yahoo Search App.

Yahoo needs to fix the problem with their app.

Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.

I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.