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An individual whose BTC holdings (that they are willing to give away) are worth almost 100 million. Mind blown...

ttul 9y ago
Back in early 2011 when I started looking at Bitcoin, they were worth 0.70 each. I talked to people who had 100,000 BTC that they’d mined in the early days on their CPU. For kicks. Some of them are still holding it.
- tehlike 9y ago
  crazy pills. I hope they at least cashed out some.
- hindsightRegret 9y ago
  Wait, you're trying to tell me you knew people who were paper (ledger?) billionaires and were willing to disclose that? Nuts
  - ttul 9y ago
    They were not billionaires when the price was 0.70
- Obi_Juan_Kenobi 9y ago
  Even in the CPU mining days, 100,000 was a lot. I think this is typical of many embellished Bitcoin stories. Several times I've had people tell me they 'should have bought at $#.##", so I ask them how they heard about Bitcoin. It's usually the "10,000 BTC Pizza" or a news story about Silk Road, or even the Nov 2013 bubble. At any rate, the actual price when they first heard about Bitcoin is often very different from what they remembered. It's very likely there are fewer than a dozen people that have ever held >100,000 Bitcoins. That would take two weeks of mining every single block in the days of 50BTC coinbase rewards. Reasonable estimations of Satoshi's mining vs. others in the pre-GPU days makes 100,000 very tight for more than a few individuals. This would also require continuous mining for several months unless you were the only person mining (which isn't the case for anyone but Satoshi). Hardly 'for kicks'. If you look in old forum threads, you'll see that many people mining in 2009 and 2010 mined several blocks over few days or weeks of mining. That would net a few hundred coins, and sometimes a few thousand. The majority of mining was done this way. The opportunity for many individuals to mine 100,000 simply was not there. If you actually talked to more than one individual who did this, you probably met 2 out of the 3 biggest Bitcoin miners ever.

ttul 9y ago

Back in early 2011 when I started looking at Bitcoin, they were worth 0.70 each. I talked to people who had 100,000 BTC that they’d mined in the early days on their CPU. For kicks. Some of them are still holding it.

tehlike 9y ago
crazy pills. I hope they at least cashed out some.
hindsightRegret 9y ago
Wait, you're trying to tell me you knew people who were paper (ledger?) billionaires and were willing to disclose that? Nuts
- ttul 9y ago
  They were not billionaires when the price was 0.70
Obi_Juan_Kenobi 9y ago
Even in the CPU mining days, 100,000 was a lot. I think this is typical of many embellished Bitcoin stories. Several times I've had people tell me they 'should have bought at $#.##", so I ask them how they heard about Bitcoin. It's usually the "10,000 BTC Pizza" or a news story about Silk Road, or even the Nov 2013 bubble. At any rate, the actual price when they first heard about Bitcoin is often very different from what they remembered. It's very likely there are fewer than a dozen people that have ever held >100,000 Bitcoins. That would take two weeks of mining every single block in the days of 50BTC coinbase rewards. Reasonable estimations of Satoshi's mining vs. others in the pre-GPU days makes 100,000 very tight for more than a few individuals. This would also require continuous mining for several months unless you were the only person mining (which isn't the case for anyone but Satoshi). Hardly 'for kicks'. If you look in old forum threads, you'll see that many people mining in 2009 and 2010 mined several blocks over few days or weeks of mining. That would net a few hundred coins, and sometimes a few thousand. The majority of mining was done this way. The opportunity for many individuals to mine 100,000 simply was not there. If you actually talked to more than one individual who did this, you probably met 2 out of the 3 biggest Bitcoin miners ever.