Born and raised in Limburg, Didi Taihuttu, suddenly became 2017 world famous† He sold all his possessions and decided to invest everything in bitcoin† He then traveled the world with his family.
Today, Didi remains equally convinced of bitcoin and the crypto industry, but how did it all start? What prompted Didi to all inclusive go and leave your old life behind. You can read this and much more in this exclusive interview with the patriarch of the Dutch ‘Bitcoin Family’† Didi Taihuttu!
Many Crypto Insiders readers will probably be somewhat familiar with the history of the ‘Bitcoin Family’, but what were you really doing before you fully jumped into bitcoin?
Of course I was born once and that’s where it all started† I was addicted to football all my childhood, I played professional football all my youth at Fortuna Sittard. At some point I started studying at HEAO. During that period I lost my mother and became more independent and started creating companies.
I’ve never actually worked for a boss. I’m lying: three months, but after three months I had seen it and thought, ‘I’m not going to sit in an office like that and listen to someone who knows a lot less about business than I do.’ So I founded my first company.
I started giving computer courses in my father’s basement. At first there were two computers, then they became five. That company with five computers grew to more than 200 computers. So in the end he had built an enormously beautiful IT company.
How did you first come into contact with cryptocurrencies?
While I was running that business, back in 2013, a friend came up to me and asked, ‘Didi, have you ever heard of bitcoin mining?’ I had heard of bitcoin at the time, but didn’t know what it all meant. That friend actually explained everything to me. He said, “You can get very rich with it and you can overthrow the current system.”
So in 2013, a friend came up to me and asked, ‘Didi, have you ever heard of bitcoin mining?
Those were two things that were my passion at that point in my life. I wanted to be a millionaire before I was 30. And the revolution, against the system and the government, that is something that has been part of me since my Moluccan origin. That combination fueled the fire in me.
Then in 2013 we started mining bitcoins in my office building. We laughed completely, it was a great moment. At one point we had 60 miners running. We already considered ourselves rich and in 2014, BAM, that crack came and from that moment bitcoin miners stopped being profitable. We then switched to mining dogecoin.
After mining, why at some point did you decide to go all in, sell your house and basically leave everything behind?
That year we had that accident, in 2014, that was also the year my company was at the top. There was a lot of work and at the end of 2014 and then my father called me: ‘come to the hospital, I’m serious’. My father was also a professional soccer player and he was like a hero to me. I didn’t know how to deal with it.
So I decided to hire managers to run my business and I went back to live with my father with my family, so that I could spend the last year with my father. A year later he dies and at that moment I realize that I am doing too much: I have a burnout.
What happens if we sell everything we own, deposit everything in cryptocurrencies and travel the world as digital nomads?
That point prompted me to change my life, I needed a reset. I told my wife that we should go on a trip for three months and see what comes of it. Those three months turned into seven months, and at one point, that old friend from bitcoin mining called me back. ‘Didi, really take a look at your bitcoins and dogecoins. It really isn’t normal anymore. So I checked everything and I still had a few million dogecoin, I still had bitcoin.
I saw the price go up, I saw the communities grow and that’s when my wife and I realized that we were really happy traveling. So we decided on the beach to continue with this. What happens if we sell everything we own, deposit everything in cryptocurrencies and travel the world as digital nomads?
For me it was two birds with one stone: I could change my life and I could try to change the whole world with it.
You are clearly against the existing financial system, but suppose you go shopping. Do you also pay for your purchases in bitcoin?
Well, we try to pay with bitcoin as much as possible. Our goal is to bypass the traditional banking system, but this is not always possible. We do have crypto debit cards with which we can pay in supermarkets with bitcoin, but unfortunately the store still receives euros. We make about 80% of our total spending entirely on crypto.
During your bitcoin mining period in 2013, did you ever dream that a single bitcoin would be worth nearly $70,000?
At the time, we were all like, “If Bitcoin was ever worth $5,000, oh man, we’re rich.” Back then we also made a lot of bitcoins per block. You could never have imagined that you could earn so much money so easily. At some point Bitcoin started to rise and then slowly we started to believe in crazy scenarios.
That’s when I really understood that this can be over $100,000, that this can be over $1 million.
I did the actual adjustment after the 2017 bull run. Then I delved once again into the market and economy in the world. That’s when I understood that this can be over $100,000, that it can be over a million dollars, but at first it was different.
Do you say, ‘I think Bitcoin is going to hit a million’?
How long do you think it will take?
I think it will take until 2030 before we start to take advantage of those numbers, but for me it is very simple. If you multiply 21 million bitcoins by 1 million, you get $21 billion dollars. If you look at the total cash in the world, this $21 trillion would not even be half of that. And then we haven’t even included all the stocks and derivatives and so on. Then you would end up with more than a quadrillion dollars of the total money that exists in the world.
Even if Bitcoin reaches a million, we are only talking about a fraction of the total economy. I honestly think that if Bitcoin is going to become a world reserve currency, it should be able to reach these values.
What do you say to someone who wants to go all-in bitcoin today?
Follow Didi on her own Instagram channel or The Bitcoin Family channel.