This Dutch Family Sold Everything For Bitcoin

Didi Taihuttu and his nuclear family has decided to bet all they have on bitcoin. This Dutch family have sold, or are in the process of selling almost everything they own which includes their 2,500-square-foot house and even up to their shoes. After taking this bold decision, they moved to a campsite in the Netherlands, with the hope of bitcoin taking off.

Even though it has been only few months, the 39-year-old father of three says he doesn't regret any of their decisions. He was once a bitcoin miner, but now has turned to a day trader of cryptocurrencies. He believes the income they get from the trading alone is good enough to take care of food and every other necessities which is all they need now.

His extended family members have told him he has gone crazy, but he cares less and they have taken it on themselves to document every of their experience on social media, while taking donations in bitcoin as well.

Taihuttu believes a lot of people have lost their complete trust in the current monetary system and he thinks that cryptocurrency is a huge replacement for these category of people. Remember, citizens of countries like Zimbabwe and Venezuela have been switching into the world of cryptocurrency due to their country's hyperinflation.

Cryptocurrencies, also considered digital assets like bitcoin or ethereum are based on an innovation called blockchain, something specialists accept is as of now changing the way we connect with cash.

Some portion of why blockchain, the product driving bitcoin is so intense is on the grounds that it removes the requirement for middleman totally. That implies you needn't bother with a third party like a bank to clear your exchanges. Rather, a decentralized system of miners everywhere throughout the world handles the ledger. The decentralization offered by blockchain additionally implies that digital currencies aren't attached to any one nation or government.

So many predictions have been made by several analyst including Tom Lee, Head of Research at Fundstrat, that there is a huge possibility of bitcoin quadrupling by 2020, and Taihuttu thinks so as well and as decided to take his chance on bitcoin after seeing the bullish trend this year which has already transcended $5,000 this month.

This is a very risky strategy I must confess with the huge volatility and uncertainty regarding government regulation, but this man believes money just have to evolve, and cryptocurrency is where we are heading to.

When his wife, Romaine was asked her thought about the whole thing, she said;

I was shocked, I was like, what the hell is bitcoin and cryptocurrency? It was a lot for me to handle. But then I got into it, and it made me believe it was a good change in our lives.

Anyway, only time will tell if this would end up being a well paid move or not. From my own perspective though, it is a risk worth taking, but just too huge to take. What are your own thoughts?