Man Sells Everything His Family Owns To Buy Bitcoin

Bitcoin is a cryptocurrency - or digital currency - that has pretty impressive encryption techniques to verify the transfer of funds. And after years of having a value of practically nothing, they're now worth an absolute shitload - just one bitcoin is currently the equivalent of £3,656, or €4,072 ($4,825).

The prospect of owning a single bitcoin that was worth thousands of Euros was too much for one particular Dutchman to pass up - Didi Taihuttu did everything he could to have as much as possible. The father of three decided to sell virtually everything that his family owned so that they could pursue a life of bitcoin hunting.

The 39-year-old has told Business Insider: "People will say, 'You're crazy'. But we are an adventurous family and are going to gamble for a moment to live minimalist lives. If you never take a risk, life is boring."

So they packed their bags and went on a nine-month trip through Asia and Australia, and along the way Didi kept running into people who were talking about bitcoin. He kept in touch with them and learned how to read the markets on buying and selling virtual currency to make a profit.

He first got involved in cryptocurrency in 2010 when it was very much in its early stages, but he had mixed success with a version of bitcoin known as dogecoin. Didi added: "That Dogecoin made me realize again: There is something going on in the world. This is no coincidence, I thought. So I went back into it again."

When his family returned from their holiday they sold their house for as many bitcoins as they could, but that was a weird process considering banks don't usually like dealing with that type of currency.

"The entire system is not designed for it. I wanted to help start changing that," he says.

They're now all living on a campsite, with his three daughters now all sharing a single room - previously, they each had their own. Didi says they're keen to sell as much of their remaining stuff for more cryptocurrency.

He's aiming to live this lifestyle until 2020, where he's hoping bitcoins will be a common as normal currency types like cash and debit or credit cards. Didi insists that it's beneficial for his whole family: "Education is the best for the kids. If you raise your kids to be too materialistic, it is not good. And that was what we were doing, to be honest."

The dad says if it all goes tits-up then he's happy to accept that, but he's pretty certain bitcoin will definitely be A Thing before that happens.

Sources: Business Insider

Featured Image Credit: PA

Stewart Perrie

Stewart Perrie is a Trending Journalist at LADbible. His first job was as a newsreader and journalist at the award winning Sydney radio station, Macquarie Radio. He was solely responsible for the content broadcast on multiple stations across Australia when the MH17, Germanwings and AirAsia disasters unfolded. Stewart has covered the conflict in Syria for LADbible, interviewing a doctor on the front line, and has contributed to the hugely successful UOKM8 campaign.

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