By: Krystle Crossman
In 2009, someone under the alias Satoshi Nakamoto developed a new type of digital currency called bitcoin. People can trade bitcoin back and forth without worrying about a middle man or banks. When the currency started bitcoins were not worth very much. Now they are worth almost $2,700 for just one bitcoin.
Teenager Erin Finman was introduced to bitcoin by his brother in 2011. At that time they were worth just $12. He began to invest his time into the digital currency and before long he had quite a bit of money from it. His grandmother gave him $1,000 for his birthday and he took that and invested it in bitcoin as well. In 2013 the currency was worth $12,000 per bitcoin so he turned his $1,000 from his grandmother into over $100,000. It was at this time that he asked his parents to allow him to drop out of school.
Finman had enough of his teachers and high school. He says that he feels that our current education system is worthless and he didn’t need it. One of his teachers even told him that he should drop out and should go to work for McDonald’s because that would be as far as he would get in life. He dropped out and did not go for his GED. Instead, he invested more time into trading bitcoin and figuring out his investments. He even started his own tutoring company called Botangle. After a short time, he had 20 employees and over 100 clients who were students that were frustrated with their teachers in school and were looking for help.
Finman made a deal with his parents that if he was able to make $1,000,000 before he was 18 he wouldn’t have to go to college. He hit that mark and did not enroll in college. He also ended up selling Botangle. The person that he sold it to offered him 300 bitcoin (worth $200 each at that time) or $100,000 in fiat (another separate currency that is not backed by the federal reserve). Finman believed so much in bitcoin that he took that option. He is still working on trading bitcoin and believes that values are only going to continue to rise. He stated that the education system didn’t help him and he was glad that he got out as he learned out to create and run his own business on his own, learned about writing professional emails on his own, and learned about investments and trading.