His grandmother gave him a thousand dollars when he was 12 years old, he invested it in bitcoin and today he is a millionaire

Erik Finman is a self-proclaimed liberal “The youngest bitcoin millionaire” in the world. And he always tells his story proud: with just 12 years he invested a thousand dollars that his grandmother gave him when the cryptocurrency did not have the high prices that it does today. Y it has more than 10 million.

The story of this young German tells that at the age of 12 he bought 100 bitcoins, which later became $ 100,000 – Increased your earnings 10,000%.

According to himself in newspaper articles and his Linkedin profile, he never felt comfortable with formal education. I wanted to quit formal education. Her parents told her she could dodge college only if he became a millionaire on his 18th birthday.

“Erik Finman has not followed the traditional path of college bound students growing up in the United States. In May 2011, at the age of 12, Finman struck a deal with his parents so that he could skip college in pursuit of an unorthodox education, provided he could successfully invest. The deal? He had to turn $ 1,000 in cash his grandmother gave him into an impressive million”Explains the Investopedia site.

Finman founded his first digital education company, “Botangle” with those 100,000 dollars, a company that in a very short time managed to have 20 workers and about 100 active subscribers. In 2015, he sold the startup for just 300 bitcoins, when the coin cost just $ 200: Finman had his eyebrows on bitcoin and knew it was going to pay off the investment.

Erik Finman, the self-proclaimed young man who is the world’s most millionaire in bitcoins. Linkedin Photo

His work returned to focus on non-formal education and he is one of the activists of this young man who believes that faced with an oppressive system, the solution is to find an individual path through non-institutional education: for this reason he bought the company again that he had sold.

Politically, Finman responds in this way to a conservative public very close to Trump and gives the pulse to companies such as Twitter or Facebook.

According to the millionaire, there are companies that want to silence right-wing movements: that is why he announced his project, the Freedom Phone, which many thought would It was a joke but it is actually for sale.

Erik Finman, the self-proclaimed young man who is the world's most millionaire in bitcoins.  Linkedin Photo

Erik Finman, the self-proclaimed young man who is the world’s most millionaire in bitcoins. Linkedin Photo

It is estimated that he currently has about 10 million dollars, with just 22 years.

Fortune with which he was able to develop this type of phone that, for many, is nothing new but rather a custom model that blocks certain specific permissions.

What is the freedom phone

Freedom Phone, Finman's project.  Photo freedomphone.com

Freedom Phone, Finman’s project. Photo freedomphone.com

Erik announced the smartphone through his official Twitter account and a new debate has started since then. The smartphone claims to challenge Big Tech’s restrictions and how they “take away freedoms.”

According to the Freedom phone website, Erik’s new invention comes with features like tracking jammers (i.e. from GPS) and an uncensored app store. The device has its own app store which, according to the website, allows you to read, watch, and think however you want without being censored.

You can even download and access apps that are banned from other app stores like Google Play Store and Apple’s App Store.

Erik posted a video on social media, explaining that the phone comes with an operating system based on freedom of speech. He said the phone will have a privacy shield called Trust, which reportedly alerts users if their device is being tracked or if they are being spied on (something that can be activated on phones like iPhones).

The website also says that Freedom Phone aims to create a future where big tech doesn’t prohibit free communication by saying “Not just make America great. But it is also a great phone. “

Finman did not explain how the device avoids censorship, but it even has its own operating system: FreedomOS and, as he explains, it is “invisible” to large companies such as Google and Facebook, because it prevents them from collecting personal data. Although he did not give many technical details, what is known is that -of course- it comes with typical applications of the American right such as Parler (who had a lot of controversy over Trump), Rumble and Newsmax.

The phone claims no app tracking, no keyboard tracking, and no location tracking.

It will be priced at $ 500 and can be purchased in the United States from August.



you only enter with more than $ 1 million

This wholesale market was in operation before the arrival of the new controls, but it took its own flight this week. It is “the freest legal dollar”

The new measures of the Central Bank and the National Securities Commission (CNV) on the operation for the acquisition of dollars in the Cash With Liquidation market (CCL) at the beginning of this week They revitalized other legal channels to buy dollars and turn them abroad and, thus, a new price of the dollar was added to the reference values ​​for the exchange market: the “SENEBI dollar” (Bilateral Negotiation Segment).

It should be remembered that, until last week, the maximum weekly bonds that clients of the Settlement and Clearing Agents (ALyCs), stock traders that are not their own portfolio, could sell to buy CCL was 100,000 per week. And now, they can only buy 50,000.

Also, until last week, you could trade around US $ 30,000 with the AL30 bond and without limit with the GD30. But now, the cap is around $ 30,000 a week for both. Thus, the BCRA and CNV regulations put a lock more to the transaction of CCL and there are cases of people who were left with their dollars “stranded” in limbo since they have not been able to make their sales because the new measure seized them in the middle of the operation.

“In fact, a client of mine who received a very large compensation, planned to buy MEP and CCL and kept the bonds locked. He will have to wait three weeks to be able to finalize his plans as a result of the reduction of the quota,” says Mauro Cognetta, financial advisor and director of Big River.

However, when the measure was known, some experts explained that this did not imply that the client who wanted could not sell bonds through the wholesale channel, through the SENEBI, which, in fact, was always the place where large volumes were operated. What does this imply? That not everyone can access it, due to the amounts required to enter.

A characteristic of SENEBI is that the price of the CCL that is negotiated there is agreed between two parties.

What is SENEBI and how does it work?

According to official sources to iProfesional, SENEBI is a round of Stock Exchanges and Markets of Argentina (ByMA) and, therefore, in general lines, operating there has the same conditions as in the open market. “This implies, for example, that If a subject is not authorized to operate CCL, he cannot do so in this segment, “they indicate.

Likewise, the operations carried out in that segment are recorded and must be reported to BYMA at the end of the round. It is very important to note that it does not work with a reference price (that is, it is not a question of supply and demand), but the price is agreed in a negotiation between the two parties involved, a bidder and a demander.

This means that it is a market whose prices do not appear on traders’ screens and are often above average. The parties agree on a figure and close the operation, without any limit or information to the market of what the exchange rate is. But, if there are substantial differences with the screen price (the retail CCL price), it is possible that a complaint will be initiated before the Financial Information Unit (FIU).

“To operate in this square, there is a minimum transaction amount of $ 1 million, which is equivalent to around US $ 6,000, the commission to be paid for the operations carried out in that market is not preset and they are not covered by BYMA’s mandatory guarantee fund, “says a market source.

As previously stated, this Cash With Settlement will continue to operate freely and the Stock Exchange companies will not have nominal limits to operate with their own portfolio.

The retail client does not have the possibility of entering SENEBI due to the values ​​it handles

New regulation, new role for this dollar

Although it worked before the new restrictions, this market was not diffused because the average prices registered in it were very similar to those of the CCL dollar. However, these days, the dollar SENEBI“is becoming a new reference price.

It is the price that best reflects the reference price of the North American currency because it arises from the free and private exchange between a foreign company and a local company“, points out Sergio Morales, CEO of Interfinance.com.ar.

The expert explains that “the search to externalize assets by Argentine companies does not generally compensate the interest in entering foreign currency into the country, so its price ends up being very similar to the informal dollar, although with the difference that we refer to an operation electronic and completely legal. ”

A) Yes, while yesterday the CCL was trading around $ 167, the SENEBI was around $ 170. However, Cognetta explains that it is a problem that the SENEBI begins to take off more than the CCL and becomes a reference price for the market because “its price is not transparent to the public and, although the amount that was operated at the end of the day, it is not so easy to know how its value is calculated “.

The truth is that operator volumes were also boosted by the arrival of the new measures, given that, up to that moment, 30% were operated in the PPT market (traditional by screen) and 70% in SENEBI (over the counter- OTC), but after the arrival of regulation, this relationship was altered.

“On the first day, the ratio became 85% SENEBI and 25% PPT, although in the following three days it fell almost to the usual average level (70/30)”, describes the specialist. He points out, however, that “we must give it more time to see how the market is accommodating because it is still a few days”, but does not rule out that it will settle around 15% / 85% in the coming months.

In this context, Morales anticipates that the dollar “SENEBI” will continue to exist as a reference, forever and when these measures are in force.

“It should be remembered that this strategy by the Government is aimed at having greater control over financial dollars, which are public and cause a greater impact on the population on the eve of an electoral process,” he says.

For this reason, it does not rule out that the new measures remain in force at least until the elections are held.

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more experts warn that it could cross this threshold

With an expected inflation of 25% in the second semester, economists do not rule out that the blue will follow in its footsteps and accelerate its evolution. This foresee

On Tuesday, the price of blue calmed down a bit and fell $ 2, to $ 176, after a Monday in which it had reached its maximum price so far in 2021, when it touched $ 180, as a result of a rise of $ 5 in a single day. A) Yes, the gap between the illegal price and the wholesale price was close to 85%.

The jump, according to specialists, was as a consequence of the new measures for the operation of bonds for the purchase of the dollar Cash With Liqui (CCL), which anticipates a bullish outlook in the exchange market. So, beyond the eventual decline, it appears that the illegal dollar has not yet peaked.

This is what the economist of the Eco GO consultancy Sebastián Menescardi suggests to iProfesional, stating that “the price of blue is likely to trend upward, given the usual dollarization prior to electoral periods and the inflationary context, a situation that, in addition, is exacerbated these days by the greater retail demand that seeks to protect the Christmas bonus and higher disposable income “.

As the blue rises and its difference with the officer widens the gap

It is still missing for the expected maximum

With this price and with the proximity of the electoral process, which generates a tendency towards dollarization on the part of savers, more voices indicate that it is going to be worth $ 200 in the coming months.

“Towards the end of the year, the exchange rate gap will be expressed in a real dollar between $ 190 and $ 200Although the Government seeks to comply with the official budget exchange rate of $ 102, “the economist Carlos Melconian warned a few days ago. And he is not the only one who indicates it.

The economic, financial and business analyst, Salvador Di Stéfano, does not hesitate to affirm that eThe gap is likely to be 120%. “This means that we will see a blue priced between $ 200 and $ 240 because the dollar is going to be a refuge for many Argentines towards the end of the year, “he says.

In the same vein, Christian Buteler, an expert investment economist, assures that, although it is very difficult to put a price on the blue dollar, he does not doubt that it can reach $ 200 or $ 220 by the end of the year.

However, he points out that “we are talking about a 17% rise, while inflation is going to be around 25%, so it goes to higher than that percentage. “He warns that it is impossible to separate these two elements, especially when we talk about the blue, a dollar in which the Government cannot intervene, at least directly, as it does with the financial and official.

Towards the elections, a rise in the dollar is seen.

Towards the elections, a rise in the dollar is seen.

The reasons for the rise

When looking for an explanation for this rise, Di Stéfano begins by describing the sequence of the dollar this year. “It had an extraordinary effect, which was the payment of the wealth tax. When the payment of this extraordinary contribution was determined, the gap began to fall because those who had to pay it sold dollars to do so and the blue remained very stable,” he says. .

This happened in January 2021 and, in March of this year, the gap between blue and official reached 54%. The blue became the cheapest dollar on the market and it ranked below the solidarity, the MEP and the CCL.

But Di Stéfano points out that, once this tax was canceled, people began to buy back those dollars they had sold and a sequence began. “The gap went from 54% to 84% today and, today, the blue is at $ 176,” he describes.

This, according to their analysis, responds to the fact that There is a general feeling in society that spending is going to increase strongly in the face of the lectures since we have a drag on a rise in pandemic spending and a loss of income due to the closure of activities due to the pandemic.

“The effect of the pandemic generates less public income and this adds to the fact that pandemic and electoral spending will increase the deficit. As Argentina does not have international credit and has very little domestic credit,” he says. This means that the Government is having to resort to the monetary issue to finance the public budget and, faced with this situation, people try to cover themselves by buying dollars.

The BCRA has firepower, but the blue escapes its orbit of intervention.

The BCRA has firepower, but the blue escapes its orbit of intervention.

What to do to control it?

The problem is that the government has little influence in the illegal dollar market. So how can you counteract this upward trend? Menescardi, points out that his best tool is to reduce the trajectory of the inflation and your expectations, to improve the real yields of the rates in pesos and to slightly calm the demand for blue.

Along the same lines, Buteler indicates that, “if you want to stop it, you must control the inflation first of all. “Note that another possibility is to continue intervening the other markets of the dollar to keep them quiet but that, to do so, the Government would have to eat part of the buffer of reserves that it made this year as a result of the liquidation of soybeans and the Extraordinary Contribution of the Great Fortunes.

He warns that this strategy will work or not depending on how many pesos he dumps into the market.

As iProfesional reported, from November of last year to June the monetary authority would have used about 1,100 million to contain the gap. In the last two weeks, due to the greater pressures -according to the market- he had to “spend” a total of US $ 200 million.. This led the BCRA and the CNV to impose new restrictions on the operation of the CCL and the MEP.

The truth is that, today, the Government has room to intervene and a drastic jump is not in sight for now, but it ensures that everything will depend on how many pesos there are in the market.

Thus, Claudio Caprarulo, director of Analytica says that “the high power of fire that the BCRA has today, with the direct intervention selling securities that it has in its portfolio and, in turn, operating on the expectations by means of the futures market, they allow us to infer that it can keep the gap between the CCL and the official dollar controlled for at least the next six months “.

If so, consider that, with a gap like the current one (at 74%), it is logical to expect a financial dollar about $ 190 by the end of the year and, although Caprarulo considers it unwise to make projections for the price of blue given the small size of that market and the high volatility it presents, taking into account that the CCL is usually a parameter for the price of illegal, there is consensus between several analysts in that we will have a blue of between $ 200 and $ 250 for December.

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Three people in possession of $ 25,000 are arrested at the Villeda Morales airport

San Pedro Sula, Cortés.

Agents of the National Police they detained in the last hours two women and one man after an inspection of the luggage inside the airport Ramon Villeda Morales.

The suspects of committing the crime of money laundering are a 65-year-old man, a 60-year-old woman and another 39.

At the time of requesting them, they were found in possession of $ 25,000 in banknotes of different denominations, an amount equivalent to about 600,000 lempiras.

Can read: Hitmen kill man inside shopping plaza in Tocoa

The apprehended persons will be placed at the order of the Public Ministry (MP) to continue with the procedure corresponding to the law.

The authorities did not release the names of the suspects, nor their place of origin or destination.


Restrictions get worse: the odyssey of making cars in Argentina

Problems for companies are piling up. The automotive sectorFor months, he has been working in the midst of a sea of ​​uncertainty. Although the June data showed growth in the 0km manufacturing, the lack of parts and the restriction of foreign exchange, put a ceiling on the activity. As if that weren’t enough, the oxygen supply problems, which today are focused on meeting the demand for intensive therapies, add additional stress.

In recent days, the statements of the president of Renault, Pablo Sibilla, who revealed that the company needs to add a production shift and take 500 workers at the Córdoba plant, but that this was not possible because the amount of dollars it needs to import more parts is not guaranteed. It must be remembered that a national 0km requires around 70% of the inputs come from abroad.


: Technology and media :: RBC

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They won $ 200 million in the lottery and are broke

A huge smile, a glass of champagne in hand and a large check with the amount they never imagined to have in their hands: 200 million dollars. If one usually dreams of what could be done with a million, Gillian y Adrian Bayford, the british couple that won the EuroMillion jackpot in 2012, seemed to have happiness assured forever. However, they could not bear the weight of money and, almost a decade later, everything collapsed.

Bad decisions, failed investments, internal fights and complaints of abuse surrounded this couple with clouds, who at that time was 41 years old and had two children. turning everyone’s dream into hell.

“I was watching the news on television when they announced that a person had won the EuroMillion, but Gillian confessed that she had not had time to buy a ticket,” Adrian said days after winning the grand prize, when everything was a huge illusion.

They separated and she went to live in Scotland.

He had been responsible for the win for the couple as he had acquired the winning ticket. That same night in which he obtained the millionaire figure, he began to investigate, between calls to relatives, on what to invest his brand new fortune.

With hope, the English couple planned to buy a new house, a car, travel the Rocky Mountains of the United States by train, travel with their children to Disney and donate a portion of the prize to children’s charities. She quit her job as a cleaning clerk at a hospital in England, while Adrian chose to continue working in the music store he owned in Suffolk County, pretending that this award would not change his life. Although it was not.

She was in a relationship with a psychologist who reported her for abuse, now she married an ex-convict.

She was in a relationship with a psychologist who reported her for abuse, now she married an ex-convict.

Things quickly changed a year after they became millionaires, Gillian and Adrian decided to separate. Their love was broken and after the decision to end the relationship, the woman decided to leave the family home in Suffolk and return to her native Scotland with her two children.

There, he made erratic decisions with his fortune: in 2016 he established a real estate fund in which he invested millions of dollars with the aim of taking over several homes, but only got debt and financial problems.

Adrian opened a movie and record memorabilia store. In turn, he decided to buy 38 houses to rent and earn an income. However, the investment brought him problems. In 2016, a disabled tenant claimed that the man was evicting him because he wanted to increase the rent by $ 340.

On that occasion, Adrian defended himself through social networks: “People who criticize me and who don’t even know me really have no idea who I am or what I do for people. Yes, I was lucky. I try to help everyone I can, but I don’t want two bad pennies to spoil my life. “

The mansion they bought with the succulent prize that today is in ruins and for sale.

The mansion they bought with the succulent prize that today is in ruins and for sale.

Then he failed again with his gastronomic adventure in which he bought a cafe that had to close due to losses close to $ 170,000.

Now, the 49-year-old man has wanted to sell a succulent residence for two years and cannot get cash. He had an offer on the mansion last year, but he didn’t settle and now he’s back on the real estate market. Bayford bought the mansion, which has seven bedrooms and three reception rooms, nine years ago.

He moved out of the house 18 months ago, in November 2019, and bought a home in Scotland, so he could be closer to his ex-wife and children. The house has been empty since then and in August 2020 he was forced to increase security after the squatters started using their pool and gym.

The mansion has been in ruins and for sale for three years.

The mansion has been in ruins and for sale for three years.

His first partner after the separation was Gavin Innes, a psychologist treating male victims of domestic violence. By 2017, the man had denounced her three times for different cases of physical abuse during their relationship.

According to Gillian complaints, she hit him up to three times between August and October of that same year.

Adrian Bayford is 49 years old today.

Adrian Bayford is 49 years old today.

Shortly after ending her relationship with Gavin and after undergoing a gender-based violence trial, Gillian remarried. It was with a great party in which he celebrated his love with Brian Deans, a former classmate eight years her junior. The striking fact is that the man had been in prison for trying to steal 15,700 euros in a Tesco, one of the most important supermarket chains in the country.


How much does a hectare cost in the Core area?

The Argentine Chamber of Rural Real Estate Companies confirmed a growth in operations and also an increase in market values

The rural real estate market is going through a promising and unexpected present, taking into account the registered scenario a year ago. The pandemic and politics play their part, but definitely the commodity prices They have influenced the rebound that the sector has experienced in recent months. The positions of the owner and the investor are closer, allowing the desired “balance” to be achieved very soon.

The Argentine Chamber of Rural Real Estate Companies (CAIR) prepare an Index every month that in May showed a growth of 18.8% in rural operations, compared to the previous month.

In dialogue with Ecos365, the president of the entity Juan José Madero analyzed the scenario: “Reality indicates that they have grown queries and operations concretized; we are seeing a more active and very selective demand, at the same time that there is also more supply “.

In this regard, he revealed the main cause that made this scenario possible: “Taking into account that in one year the values ​​of grains have increased notably, the agricultural business became very attractive despite the pandemic and the economic crisis, because we are talking about an activity that never stopped and that, in turn, values ​​were strengthened “.

Agricultural land areas are appreciating.

As he explained, a thermometer that helps to hold the values ​​of the land today is the rental market. “The demand grew exponentially, with an increase in the price between 10 and 15% measured in quintals (agricultural) and up to 10% in kg of steers (livestock),” he revealed.

In that sense, he recognized that this market “It circulates on the highway because it is paid in pesos”, taking into account that “nobody wants to treasure” the national currency. “This means that the owner who is selling his field, if he is renting it, the rental income has improved considerably. Although he has the decision to sell, he is not willing to sell, and with this scenario there is no pressure or need for sale “.

How is the Core Zone

“Today in the Core Zone where there are Class 1 soils, with great agricultural aptitude, the value is in the order of US $ 12,500 to US $ 13,000 per ha, and a dollar bill, which makes the sale and purchase transaction be complicated, “said Madero. And he added: “Just as rents go by highway (because they are in pesos), purchases and sales go through a right-of-way (because they are in dollars), traveling a slow and winding road.”

It should be noted that currently rents are being paid around 20-22 qq / ha when last year the value was around 18 qq/ha. But there is also a particularity, as highlighted by the businessman: “That quintal is worth more than last year.” And he acknowledged: “What is investment in production are faster capital transfers, in less amount and in pesos.”

In the core area the value of the land is revalued.

In the core area the value of the land is revalued.

On the other hand, referring to the sale, he pointed out that the operations that more volume and traffic have are more focused on agricultural fields and investments “below two million dollars and many below one million.” Above these values ​​”they are scarce, (up to five or six million) and above that there are practically no operations”.

Medium-term expectations

Taking into account that in the second semester there will be legislative elections, the question is to know how the political aspect will impact in the rural real estate business. In this regard, Madero admitted that productive expectations “remain firm” and noted that there are numerous inquiries to rent fields that are for sale.

“The demand is very firm thinking about agricultural rentals and the sale is more selective. If there are no big surprises from the government, which affect the sector, it is to be expected that the market will flow in this new apparent stability of values, but we are always subject to what may happen with some official decisions. “

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This is how Strike would get the dollars out of El Salvador through Bitcoin

Foreing Policy magazine explains how El Salvador could run out of dollars by adopting Bitcoin, which would be “a disaster for the country.”

The American magazine Foreing Policy published an article on Tuesday in which it analyzes the adoption of Bitcoin as legal tender in El Salvador, which it considers an unfavorable measure for the country.

“This is likely to be a disaster for the country, but it is typical of Bukele’s erratic style of government,” wrote David Gerard.

But in addition, the article explains what the remittance money transfer scheme is like that the government wants to do in association with Strike, a US payment company, which claims to make remittances using bitcoin.

SEE: Government analyzes that companies pay salaries in Bitcoin to their employees

Its CEO is Jack Mallers, who in January described how this transaction works:

• When I initiate the $ 1,000 payment, Strike debits my $ 1,000 balance with her.

• Strike then automatically converts my $ 1,000 to Bitcoins using their real-time trading and risk management infrastructure.

• Strike, then, moves the bitcoins through the Gulf of Mexico that then arrive in Central America in less than a second and at no cost.

• Strike then takes the bitcoins and automatically converts them into USDT (synthetic digital dollars known as Tether) using its real-time trading and risk management infrastructure.

• Strike credits the recipient with USDT (Tethers) to their Strike account.

The recipient of the transfer will receive Tethers and the dollars they sent will remain in the United States, with the company that issues the Tethers.

ALSO: Professionals in economics ask the Assembly to repeal the Bitcoin Law

According to Mallers, if the receiver really wants dollars, he will have to go to an ATM or an ATM (not from banks) but from the Strike company, where they will give him the dollars in exchange for the Tethers. In that change, although Mallers does not say it on this occasion, there will be a commission, which can be guessed because in similar operations the company has delivered the equivalent of $ 47 for every 50 Tethers or equivalent.

Given the magnitude of the remittances, local economists warn that in about four or five months the government would have transferred all the dollars in the country’s international reserves. The fake dollars are not accepted as reserves and cannot be used to make payments abroad. Thus, Salvadorans would lose all their savings.

According to the magazine “The Economist”, this company, to which the government would deliver the country’s dollars, has already been fined by the State of New York for lying when stating that it had covered the Tethers one by one with real dollars.

By issuing Tethers that would be used in El Salvador, the company would become the central bank of El Salvador, issuing the Tethers at will, without any endorsement, and keeping the dollars. The New York State Attorney General called the company “fraudulent.”