Degenerate Dutch Father Forces Family to Sell Everything So He Could Trade Cryptocurrencies

The_Real_Fly's picture

This is akin to a family of five selling their home, cars, and personal belongings, in order to finance Dad heading off to Vegas in order to play the fucking slot machines.

What can go wrong, after all? Bitcoins only go higher.

Source: CNBC

Didi Taihuttu, his wife, three kids and their cat bet all they have on bitcoin. The Dutch family of five is in the process of selling pretty much everything they own — from their 2,500-square-foot house, to their shoes – and trading it in for the popular cryptocurrency. They have moved to a campsite in the Netherlands, where they're waiting for bitcoin to really take off.
 
It's only been a few months, but the 39-year-old father of three says he doesn't regret a thing. "We were just like – sell it, sell it, what can we lose? Yeah, we can lose all the material stuff. Yeah, we can lose all our money. Yeah, we don't have three cars anymore. We don't have the motorcycle anymore. But in the end, I think we, as a family, will still be happy and just enjoying life."
 
He once mined for bitcoin, but now only trades it, along with other cryptocurrencies like ether, ripple, neo, dogecoin and XLM. The family is still in the process of liquidating assets and investing the proceeds in cryptocurrencies as they go. The income from trading is enough for food and necessities, which the family says is all it needs right now.

 
He's a fucking degenerate, making believe all that matters is MUH happiness.
 

Taihuttu's brother, sister and in-laws call him crazy, but that hasn't stopped them from taking their experiment public. The Taihuttus are documenting their experience on social media, and they are even taking donations in bitcoin. "A lot of people have lost their faith in the current monetary system," he says. "And I think that cryptocurrency is a big alternative for those people."
 
The family decided to make the gamble on bitcoin this summer, after seeing its swift climb this year. It's already surpassed $5,000 a coin, and Taihuttu thinks it could quadruple by 2020. Tom Lee, head of research at Fundstrat, has made the same prediction.

 
Not only is he a degenerate, but he's also an attention whore, using this gambit in a flaccid attempt at achieving stardom.
 
His rationale:
 

"We're going through a revolution that's changing the monetary system. ... We are just lucky to realize that we are in the middle of it right now," he says.

 
Oh, fuck off. You're a vulgar wastrel and you know it.
 

Some say this underlying technology holds even greater potential than the cryptocurrencies. For Taihuttu and his family that potential seems well worth the risk — even if it means having to all sleep in the same room.
 
"I was shocked," says Taihuttu's wife, Romaine. "I was like, 'What the hell is bitcoin and crypto coin?' 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 -- for my children, for my husband, and for myself."

 
Stockholm syndrome is real. Seek a good divorce attorney. The slipper slope never ends.

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DistortedPictures's picture
Degenerate Dutch Father Forces Family to Sell Everything So He Could Trade Cryptocurrencies

 

EDIT:

Degenerate Dutch Father, who so far has been 100% correct much to some people's dismay, Forces Family to Sell Everything So He Could Trade Cryptocurrencies and live a better life.  "So far the Cryptocurrencies have left gold in the dust."  He is right until he is wrong.   
correr's picture

time will prove him correct

roddy6667's picture

Nothing new here. Flash back to 1650. Headline reads

"Degenerate Dutch Father Forces Family to Sell Everything So He Could Trade Tulips"

 

JailBanksters's picture

Is he a Degenerate because he's Dutch or because he's trading crypto's ?

 

 

yvhmer's picture

LOL! For being Dutch , for sure. WE are crazy potsmoking red light district enterpreneur XTC dealing degenerate semi  Germans, so ...

No, because the author of this little piece of diatribe think that Didi FORCED his family tolive in poverty so he could play around in bitcoin land.

A simple google search brings you to a newspaper containing his bio. There is apparently no force whatsoever, as he and his wife made that descision together. They take very good care of their kids. So, I see no degenerecy here, except for the alarmist, wolf crying unjournalistic FAKE NEWS asshat of an author. 

My advice to him: learn to command a foreign language, buy a passport, go travel, and get a life. 

https://www.businessinsider.nl/didi-taihuttu-huis-te-koop-bitcoin/

http://taihuttu.reislogger.nl/

 

Spaced Out's picture

The cliche you're grasping for is "slippery slope", numbnuts.

Gatto's picture

Oh, don't get so bent out of shape, he has only been able to buy a quarter of one Bitcoin so far, so even if it goes bust, he's only down a grand!

Xena fobe's picture

It"s the Nethetlands and he is an immigrant.  No doubt his family collects welfare anyway.  So he can"t lose.

Lets Buy The Dip's picture

If a market crash came crypto and BITCOIN would skyrocket. 

but remember many peope been calling a crash. You are better to do research and find a company that is accurate. I follow the aussie guy here, ==> SENTIMENT TRADER  .... he called the the 2008 stock market crash [3 months] before it happend!! ANd right now he is saying lots of things, but nothing about a STOCK MARKET crash. SO I doubt it would happen. 

I think it safe to say cryptos are too volatile right now. Hmmm?

Mementoil's picture

So BTC is not in a bubble, I have been told over and over.
People are selling all their possesions in order to invest, and it's not a bubble.
Yeah, right...

. . . _ _ _ . . .'s picture

How is camping squalor? Sounds like something a spoiled brat would say.

Wife sounds happy; that's more than most rich Yanks living in houses can say.

If he had been an entrepreneur who sank his entire savings into a business venture, the article would read very differently. At least he is diversified within the space.

Best of luck to him.

any_mouse's picture

Why was he "trading"? Bitcoin only goes up, just buy, hold, and profit!

Dr. Bonzo's picture

...Didi Taihattu...

Yeah. Now there's an authentic Dutch name for ya. Some quick Googling... oh wait... he's an indonesian transplant... Yawn.

Grandad Grumps's picture

Degenerate? I don't think so. Seems as if he understands that there is no future in physical possessions.

Silver Savior's picture

I bought a lot of Ripple to get in bed with the fed. 

Still feel pretty good about it long term. I could buy a Bitcoin if I wanted to but I would rather go with Ripple.

mendigo's picture

Actually, speaking of Green Beret.

One needs to know what is best handgun for liitle home defense - from petty robers not from the irs?

Something for apartment that will stop a big man without putting rest of family at risk in close quarters.

Im guessing its 9mm. Maybe with laser sighting I could wing one in butt.

Kafir Goyim's picture

Most people will say shotgun for indoor use.  If you want laser sightes for shotgun, check out this bad boy.

https://www.youtube.com/watch?v=jQL2HtrD8ss

 

Dr. Bonzo's picture

Most people will say shotgun for indoor use.

Hahahaha.... come on. If that were true, how could gun magazines make a living? This debate is as old as firearms. Matter of fact, I think most gun magazines simply exist attempting to answer this single question. Probably the most relevant question to any homeowner anyhow.

As to the original question. There are so many variables. How many people in your household? How big is your house. Is it an apartment, a stand-alone. Do you have children? How old are they. I have friends who rig their handguns under tables. One friend has a favorite chair that has a view of his front door and 3 windows, he inserted a holster into his favorite recliner and keeps a .40SW there. Some of my friends want their rounds to pierce walls as a tactical option, others not. Obviously can't do that with kids in the house or even if you live with other people. Location of bedrooms is important. And doors and windows. Are your interior walls wood, cement or brick? You live in a high crime area or a rural area? Reported break-ins in your area? Etcetera etcetera etcetera.

mendigo's picture

Actually, speaking of Green Beret.

One needs to know what is best handgun for liitle home defense - from petty robers not from the irs?

Something for apartment that will stop a big man without putting rest of family at risk in close quarters.

Im guessing its 9mm. Maybe with laser sighting I could wing one in butt.

mendigo's picture

What does the Green Beret say?

paint it red call it hell's picture

Prophet or bag holder or fiat junkie time will tell. I think he will get 2 out of 3 either way.

mendigo's picture

As I recall, I first read of bitcoin on zh when was around $100.

Never went for it. Too risky.

At least thats what the smart people were saying.

OCnStiggs's picture

They'll see their portfolio "explode" to 100,000 euros and they won't be able to help themselves. They'll sell because, "That's a fortune!!!!" In four months, they'll be broke and living at that campsite in their Mercedes.

This outcome will be the fate of anyone left in cryptos in five years, except those who got in really early and bailed. There are already reportedly 1000 different cryptos. What's to stop that number from going to 10,000? How about 100,000? That is the primary failure of cryptos: unlimited supply. Basic economics tells us when supply is unlimited, pricing (demand) is low. Precious metals are historically "money" because of their limited supply.

My dad observed of the market: "If someone is making a lot of money you know a bunch of people are losing a lot of money."

Just sayin'

(Everytime I post this simple logic on a crypto thread, the thread vanishes within 12 hours. Let's see if this one is just like all the others. If it is, ask yourself why.)

 


AE911Truth's picture

There are an infinite variety of metal alloys, many of which do not tarnish, but for some reason, the market values gold as money. While there are many alternate crypto currencies, the market values bitcoin as a store of value.

AUD's picture

Most of which are very modern, without the long association with humanity, and even though they resist decay, they are not inert. They also lack other qualities that gold possesses.

Nevertheless, good stainless steel is way more expensive than ordinary steel.

AUD's picture

That is the primary failure of cryptos: unlimited supply

No it's not. Quantity has no bearing on value. Why do you think these 'cryptocurrencies' are still rising in $ terms even though there's already 1000 different ones? Precious metals are not money because of their limited supply. They are money because of their quality.

What quality does cryptocurrency have?

NevadaMirage's picture

Thought I clicked ZeroHedge, somehow ended up on Jamie Dimon's blog.

AncapSwede's picture

Why dont you actually make an argument instead of just being a douche. 

Golden Phoenix's picture

What they're doing isn't much different than when housing is appreciating so fast it's a better deal to live in an apartment and rent your nicer house out to tenants pocketing the difference.

There was a guy on Youtube probably a year or so ago who sold his house and bought Litecoin. At the time I thought he was nuts but last year LTC was at $4 and this year it's at $60. Only hindsight tells whether such a thing is a good idea or not. As to the people in the article, time spent in campgrounds can be some of the fondest childhood memories. Every kid should be so lucky. Getting rid of George Carlin's definition of 'stuff' isn't so bad either. 

The only 'flaccid, attention seeking whore' in the article is the author. 

Some people are too pussy to handle pullbacks. Others are too pussy to handle that other people can handle pullbacks.

lasvegaspersona's picture

Wow...can I still use cash and credit cards or is everyone only accepting Bitcoin now?

From reading ZH I get the impression that soon even hookers and drug dealers will only accept the crypto....

buttmusk's picture

these people never learn. human psychology is truly fascinating

Mango327's picture

Cute article. Fucking pointless. Thanks for providing literally nothing. Cheers.

CanadaGoose's picture

Usually a sign that BTC has peaked!

HRClinton's picture

Without real DATA, you have only guesswork. 

What I am sure if though, is that the man was disturbed before crypto.

Obsessions and Addictions are as old as mankind. If it hadn't been crypto, it would have been something else. 

Like... gambling, cars, alcohol, drugs, hookers...

QQQBall's picture

is this an allegorical story about THE FED?

GodSpeed_00's picture

That guy has balls of steel.

Albertarocks's picture

Personally, I hope he makes $46 billion dollars and his family becomes very proud of what he did for them, for generations to come.

GodSpeed_00's picture

Me too, I wish him the best.

SadhakaPadma's picture

cryptos are ten times more valuable than year ago....he would be capable to buy ten homes as he had before...smart guy.

buttmusk's picture

if fiat currencies didn't exist his bitcoin might be able to buy him a new tent. that's about it

magnetosphere's picture

what a fckn boss. and a champ wife. just don't buy too many segshit coins.

medium giraffe's picture

Bitcoin is not money.

Money arises from markets as a medium of transaction (Smith, Mises etc). As such, although it fluctuates in value it does so within a fairly narrow range. Its value remains stable and fairly predictable, as you would expect for a placeholder for value, energy or effort. Often a previously utilised commodity becomes the focus for the value exchange, such as precious metals. The current fashion is to use free floating fiat currency.

Investment vehicles are entities that 'should' appreciate in value, in order to later be sold for more money. More often than not, the investment vehicle is irrelevant in itself, as long as it performs the function of increasing in value.

Bitcoin clearly acts more like an investment vehicle than a medium of exchange. If your entity increases in value from $1 to $1000 in a year, you might very well want to keep hold of it. You are unlikely to want to trade it for a beer or a sandwich, as you would with actual money, which you would not expect to appreciate in such a parabolic fashion. Therefore you are comfortable to trade freely for goods and services and your money fulfills its purpose. You aren't worried about missing out on the next huge bull run on the dollar.

I am often told that I don't understand Bitcoin by people that don't understand the above. I wish they would be more honest about what Bitcoin is, and what it is not. They simultaneously trumpet the virtues of decentralised money whilst raving about how much money they have made from investing in Bitcoin. Well, which is it? You can't have it both ways.

As an investment vehicle, which it most closely resembles, it is subject to the same caveats as all other investment vehicles - some of which carry dire warnings with clear historic examples.

yvhmer's picture

I take it you will agree to the fact that these last say 17 years on the market have been quite .. eh .. irrational. Cause is quite simple. Conflicting measures taken to fix something that can best be fixed by letting the market do it? work. Instead we have no market at all, in fact.

In this context I did place your exclamation: You can't have it both ways.

Perhaps that is exaclty the point. You assumed it cannot be both ways. What if, albeit for a time, it can?

 

disagreeableness's picture

You do understand money, but you are correct (or rather everyone else is), you don't understand Bitcoin. 

medium giraffe's picture

What about bitcoin do I not understand that you can perceive from my comment?  As an ex net tech with a focus on specialised networks, security and traffic encryption, and having done some bitcoin mining four or so years ago, I understand it just fine, thanks.  Get back to me when you know your way around an SHA-256.

buttmusk's picture

bitcoin is money to 1% or less of the global population that is willing to accept it in transactions for real assets that bypasses fiat currencies altogether. when trillions of dollars in real assets and commodities are exchanged for bitcoin daily, I'll take notice. Good luck getting to that point.

 

I'll never take bitcoin for my assets unless it was nationalized by a global economic power or backed by gold

besnook's picture

you either want a real smart wife who makes a great partner or a wife like this whose philosophy is, "i have no clue what the crazy man is talking about but it all seems to have turned out okay. showers are a bit dicey but modesty is a small price to pay for everything he has promised for us. besides, it's kinda fun right now and i love him and he loves me and off we go."