Bitcoin investor teen and multi Millionaire Eric Finman talks about the best decision he ever made.

 

https://www.youtube.com/watch?v=k4FNmp3mKp4 

Teen Millionaire Eric Finman agreed to an interview and this is what he said “so I was 18 years old when I made my first million dollars it felt pretty great. I felt great you know, I did put some towards buying a Lamborghini’s, there’s a dealership in Newport Beach that takes Bitcoin for Lamborghini’s. “I’m Eric Finman and I am one of the youngest Bitcoin millionaires in the world”. We walk through his sizeable city apartment and he further explains. “In this bedroom we got a lot of beds here, I have a lot of friends over I don’t really like cuddling. And I am pretty minimalistic so I don’t like to have too many clothes that’s pretty much it I like to just live life in a gym t-shirt and gym shorts perpetually”. He opens a huge wardrobe with few garments casually thrown in the bottom corner. “Hey you know if you got money there is no point in dressing well. I check my Bitcoin every 30 minutes so I get a notification like of the price, so I originally got into Bitcoin when I was just 12 years old. When I was about ten, bitcoin was twelve dollars a coin and myself and one of my brothers, we really he really got into it and we were very close and then we really got into all this big bling stuff I was very fortunate enough to have a kind grandmother. She had an extra thousand dollars to give her kids for a scholarship fund, so I put that $1,000 into Bitcoin so I was able to amass about 400 plus bitcoins so there you go”. 

He continues, “This is purse this is a website that allows you to like buy things off of Amazon and then it also like gives you a discount because using Bitcoin rather than all the fees of you know credit cards and all that stuff so that’s where I have like I’d like a hardware key I like to check I have like a hard drive that I like keep it in secure location. Basically it is a disruptive technology it’s not regulated if it can’t be tracked and it tends to attract people who are doing illegal things.  

There are a couple people kind of top politicians some Wall Street people they’re saying that bitcoin is not gonna work out and bitcoin is  kind of used for the bad things and  that recently has affected the price because politicians and Wall Street  people are very afraid of what bitcoin will do to them in their industry. So school was maybe not the best thing for me to say the least I didn’t really particularly enjoy it I had a lot of teachers that were maybe not the most positive one teacher told me to drop out and work at McDonald’s because that’s  all  I’ll ever amount to in life so I left I dropped out when I was fifteen and I went to start an education company that would help people learn better, it was to give people access to good teachers if you didn’t have any locally I wonder how I came up with that idea.  I think you can learn a thousand million times more on the internet than in the classroom everything is there for you.  You just need to have the motivation most people think that they have to go through this traditional path and they have to do this,  I’m kind of more aware that that’s maybe not so much the case. I think about how can I completely do something my way so if this is a traditional way of doing it. I think about how to redo this from scratch. How could I do that. I think career that was one you know. School that was two you know three you know kind of currency Bitcoin and all that stuff. That’s what I think is that in a sense that, society and the world and the world’s rules limit you in so many ways if you completely rethought about how you could do something your way completely from scratch what would that look like?” 

Folks you just got a fractional insight into the very fortunate teen Eric Finman.  

Bitcoins

Litecoin mining my experiences, the good the bad and the ugly.

rg2b Litecoin mining my experiences, a place to discuss my own foray with Litecoin mining.

If you’re new to the world of Bitcoin, Litecoin and crypto currencies in general. A simple definition would be to say that they are a new form of digital currency. In very much the same way that we have adopted the credit card after years of using physical paper money (Cash), it is hoped that Litecoin and other crypto currencies will gain acceptance on the basis of their significantly lower transaction charges in comparison to credit cards and interbank cash transfers. This is achieved by a decentralised system where the transactions are checked and verified by the computers of ordinary members of the public. Typically referred to as “Litecoin miners”. All the transactions are secured with the highest forms of encryption, it’s very design makes the system almost impossible to take advantage of as it would mean an attacker would have to have the combined processing power of the entire Litecoin network at their disposal to even begin to attempt to compromise its security.

What’s in it for the Litecoin miners you may be asking yourself. Well the system is designed so that those members of the public using Litecoin mining machines made by companies such as Alpha Tec and KNC miners would themselves be given a reward of FREE coins as long as they kept their machines running on the network. This process is called mining as you are in fact generating new coins as well as assisting transactions between two parties. Possibly a buyer and a seller of Litecoins or simply the movement of Litecoins between two different accounts. These accounts can sometimes be referred to as your Litecoin address or wallet address. As this is a decentralised currency, securing  the PC with which your account is most commonly accessed is fairly important as with any form of currency. Securing a digital wallet is very simple it just requires  a few clicks on your mouse acknowledging you want the wallet encrypted and providing a passcode.  I would always recommend securing the wallet first before actually moving coin to it. Once encrypted the process of compromising it is very difficult. There are other options to use an online wallet  with 2 factor authentication and have them provide much of the security for you. There security policies will be in line with the global ISO 27001 standard.

The primary reason for starting this blog post is to publicly review my recent purchased Alpha Tech Viper mining machine in January 2014. Prior to this date I had built a couple of Litecoin minings rigs using 7950 and R290 I will be documenting my success and failures  in attempting to enter the crypto currency market at such a late stage. Come back to review later post and see how I am getting on with the project.

Litecoin Dream

 

The Litecoin mining Dream!