Chapter 45 Speculative Profit

After the poor get rich overnight, their mentality explodes and they spend extravagantly, and after squandering the money, they cannot return to the previous state of mind, leading to the end of the road, which is not uncommon and has become the norm.

In the ninth season of "Shameless", Fiona embodied this trait.

At that time, Fiona had become the manager of a fast-food restaurant, had an apartment building under her name, and worked as a charter wife, as if she had jumped from the poor class to the middle class.

However, just when she wanted to continue to climb up, an investment mistake made her penniless!

The cruelty of the world of capital is not at all something that Fiona, who is new to the field, can imagine.

It's not something that Lip can imagine now.

Although he is a reborn, Lip was just a poor dick before and had never seen much of the world.

Fortunately, Lipu, who was reborn, was a little genius with enough brains, giving him the possibility of rising.

At least, Lip's rise cannot be achieved overnight, firstly, he has no capital to start with, and can only accumulate little by little, and secondly, he does not want to leave the current class all at once.

To be honest, Lip is actually very happy with his current life.

Now, Lip earns five or six thousand dollars a month from trading with Jim Zhao and others, and this income is enough to ensure that Lip can live a middle-class life.

Of this income, Lip spends $1,000 a month on Bitcoin.

From November 2010, when Lip began to buy Bitcoin, to April 2011, Lip has invested almost $4,500 in the acquisition of Bitcoin, and has acquired almost 10,000 bitcoins in total.

Now the price of a single bitcoin has risen from $0.5 when Lip first entered the market to $2.

The total value of bitcoin in Lip's hands has reached $20,000, which is more than four times the amount he invested!

As the price of bitcoin increases, Lip is also increasing the amount of purchases per month, preparing to invest $2,000 in April and $3,000 in May.

The reason for this entrenchment is that Lip has now opened up a second trade route.

Last Christmas, Lip picked up a shipment of Chinese goods from Chinatown and sold them privately in the neighborhood around Wallace North Street, where he benefited handsomely.

Since then, Lip has turned this business opportunity from a temporary idea to a fixed model.

Now, two or three thousand dollars worth of goods from Chinatown are sold back to Wallace North Street every month, and the profit can be doubled.

After deducting other miscellaneous expenses, the commissions that have been given to Mandy, Debbie, Carl and others, Lip's net income is also nearly two thousand dollars.

After receiving the acceptance letter from the University of Chicago, Lip reached an agreement with the school that he would no longer have to go to school, and that he would be idle at home every day, and the scale of this newly opened trade route would be larger.

In April, Lip's net income as a second-tier seller of Chinese goods reached $3,000, which increased to $4,000 in May, and further increased to $5,000 in June.

At this point, Lip did not continue to expand, and in July and August it remained at that level, and in September, when he went to school at the University of Chicago, the scale was slightly reduced, and the net profit remained at $4,000 a month.

Coupled with the inverted iPhone 4, after entering May, Lip's monthly income has reached $10,000.

With so much money, you can't get a cub in your hand, and there is not much interest in the bank, and the upward trend of Bitcoin during this period is so good, it is natural for Lip to increase its investment in it.

During this period, not only Lip seized the opportunity of this wave of bitcoin's rise, but more and more investors were attracted as bitcoin was listed on trading platforms in the United Kingdom, Brazil, Poland and other countries.

Bitcoin investment ushered in the first wave of overheating, and after entering June 2011, the price of a single bitcoin reached a peak of $35.

After the price of a single bitcoin exceeded $30, Lip suspended the acquisition, at which point the number of bitcoins in Lip's hand was 11,000.

When the price of a single bitcoin rose to $31, Lip cleared all the goods in his hand, earning nearly $350,000!

Lip's previous total investment was less than $10,000.

In just half a year, Lip has made a profit of up to 35 times on speculating on Bitcoin!

And that's just the beginning.

Lipu, who understands the development process of Bitcoin, knows that after this wave of overheated market, the price of Bitcoin will enter the first period of shock, from more than $30 in June 2011 to $2 in February 2012.

Since then, the price of bitcoin has been hovering at low levels, peaking at $13 in 2012.

However, in 2013, the price of Bitcoin entered a more violent period, from $13 at the beginning of 2013, all the way to $260 in April, to $66 in July, and then to $1,147 in December at the end of the year!

Subsequently, from 2014 to 2016, the price of a single bitcoin hovered between $200 and $1,000 until December 2017, when the price of a single bitcoin reached an all-time peak of 18,674.

Sure enough, although Lipp joined the little butterfly, the funds he invested were really limited and had little impact on the market of Bitcoin.

On June 9, 2011, shortly after the value of a single bitcoin rose to $32, Mt. Gox, the world's largest bitcoin trading platform, was attacked by hackers, and the security of bitcoin was questioned.

When the price of a single bitcoin fell back to $15, Lip re-entered the market and hoarded bitcoin, this time preparing to hold it for the long term.

From July 2011 to February 2012, in these 8 months, Lip made a profit of $350,000 before, as well as other profits in these months, a total of $400,000, and successively invested in it, and the number of bitcoins purchased was as high as 150,000.

If this amount can be held until December 2017, Lip will become a billionaire!

The June 2011 Bitcoin speculation had a limited impact on Lip, because all the proceeds were in bank accounts, which were just a bunch of numbers for him, and then returned to the market.

The only repercussion was that after making a profit, Lip bought himself a laptop and paid for Victor to help assemble a set of computers that looked like junk on the surface, but in fact had quite good computing power, and installed them in the basement of the house next door to the Gallagher House.

That basement has been converted into a secret base by Lip.