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He pledged the house to buy Bitcoin for 20,000 dollars and almost lost all CryptoNews



Things in life R.Y. in 2017 they were quite monotonous. I was a developer and I spent years studying Bitcoin codeHowever, he did it only to develop the financial technology of his company.

He was not interested in Bitcoin technology at all, although he shared his ideas of decentralization. He worked for a private company, like an automaton, betraying the cypherpunk principle. However, he woke up when he saw that the kryptoactive price is rising. R.Y. He was the father of two children and his partner was a nurse. Between them they made a double change to pay their bills.

R.Y. he invested in BTC in the last quarter of the year and made a profit that his work, with a fairly unfair salary, did not give him until then. Despite having knowledge about the operation of Bitcoin, at that time he saw it clearly as a company. He decided to leave work in November 2017.

The charts were favorable for the BTC price and its profits trade they were reason enough to believe that good times would not stop. However, he wanted his children to have the best Christmas, so he made a hasty decision that would completely change the course of his life. Without consulting with Sophie, she took the deeds of the house in which they lived, which she inherited in the city center, and he pledged it for 7 thousand dollars.

For the money from the mortgage, some savings and earned income, he collected in his cold portfolio a total of 0.5 BTC. As at December 17, 2017, with BTC valued at USD 20,000, this translated into 10,000 dollars. In a short time I planned to double the number.

However, from 20 thousand BTC dropped to 19,000 In one day. R.Y. he thought that it was a small failure in price, as it happened on December 10, when Bitcoin came out of the value from 17,000 to around 13,000. BTC should therefore recover and repay the money. He interrupted his operations trade and he sacrificed himself holder (the one who keeps his cryptoactics waiting for a significant increase in his price), while bitcoin did the same.

At Christmas, everything went as normal, the children received a gift with the rest of the savings, and Sophie did not suspect that they would lose everything immediately. However, R.Y. he could not bear the pressure and He confessed everything at the end of January 2018Until then, BTC already cost $ 11,000. Sophie took the children to her mother's house before they took them out onto the street because they were unable to pay off the mortgage.

R.Y. He fell into deep depression and was about to take his own life, but the love he felt for his children was stronger. He had to do something to get his family back. Having experience in the development of financial technology, he accepted the offer of open source software development for a company that would give him over $ 4 million a month.

When the government finally took over the house, his friend Jhon let him sleep in one of the furniture in his living room. I saw children on weekends, and although Sophie still loved him deeply, she directed only the necessary words about childcare.

Jhon, who was concerned about the mental stability of R., paid for psychiatric treatment with a specialist in financial loss. On the recommendation of this R.Y. continuation of trade. but this time not with bitcoin, but with altcoins. R.Y. He also left erroneous behaviors like put all your money into one cryptoactive onea problem that was terrible for him.

R.Y. He used the strategy scalping, who is looking for small profits in operations that last very shortly. To do it, he used the leverage technique. This includes handling more money than is actually available. For this purpose broker grants a temporary loan. Thanks to this, you can trade with items larger than the funds you have on your account.

For the leverage to be secure, it was necessary to properly manage the risks that R.Y. he did not hesitate to pursue. So R.Y. programmed his broker with stop loss ("Stop loss" in Spanish) so that the system knows how much I am willing to lose. However, the profits from this type of strategy were very low on the cryptoactive market with a downward trend, which was characterized by 2018.

R.Y. He did not stop saying that trade is a good deal, but he tried something else. Because I spent years studying the Bitcoin code, He decided to devote himself to development. For many months, he developed a bitcoin improvement proposal (BIP), which was discussed on the Bitcoin Core mailing list in the Linux Foundation. After the discussion, the formal project, which was checked by the community, by the supervisors and sent to the BIP editor was created on GitHub. The application, which did not include the irreversible change of the software, went through the last stage and received the number, category and was integrated with the Bitcoin repository.

Like R.Y. showed a deep knowledge of the Bitcoin code, as well as a justified concern for its maintenance, called the attention of the programming laboratory established in 2014. Built from other Bitcoin Core programmers, this lab has been designed to support and maintain Bitcoin and other exchange systems between pairs in a decentralized manner. R.Y. He was hired by this company that offered him a steady income.

The money received 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 did not take away. A semi-finished pizza cooled on the table, which the children did not like because of the taste of anchovies. In a secret chamber on one of his legs, he waited for a cold wallet with 4 BTCs. Our protagonist began telling his children how both elements reminded him that his bad financial decisions were to take away what was really important.

Featured image by pathdoc / stock.adobe.com


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