Bitcoin was not created to be a store of value - why? Because this already exists, i.e., Gold, and like Bitcoin its market realized in 2009 that fiat is not worth the paper it’s printed on. Here is how people ran to the store of value in 2009. Why fix the store of value while fiats are the problem?
@cz_binance: Imagine casually running a bitcoin (not even a word) wallet in 2009. It takes no more electricity than your browser, and mines 50 BTC. Worth 0 at the time. You don't even think about it. 11 years later, it's worth $500,000. You move it, and shakes the market. 😀
A fun story about losing $5.00 worth of 2008/2009 bitcoin 🤦🏻♀️
In 2008/2009 I was flat. broke. Riding home from my shitty $27,000 per year job and listening to an NPR report about a new form of currency called bitcoin I decided to spare five precious dollars to try it out one night. I didn’t tell my then-fiancé because he’d have been mad I was wasting $5 when we couldn’t afford to eat. I didn’t tell my dad because he would have thought it was too bizarre to take a chance on. I remember it being complicated to buy and relatively over my head. It was only worth $5 and I couldn’t understand how to utilize it so I forgot about it. Sold the computer a year later and wiped the hard drive before I sold it. Sometimes my dad, who eventually came around to the idea of cryptocurrency, harasses me about how I have $200,000 or whatever just floating somewhere in the ether with my name on it. “Maybe you emailed it to yourself?” “Would you have emailed it to yourself back then? Remember dad, it was a relatively obscure form of digital currency worth FIVE DOLLARS.” “Maybe you printed it out and saved it?” “Yeah, and maybe I also saved all my $5 McDonald’s receipts from 2008 too” I try to remain philosophical. I might as well get mad that I can’t travel to Jupiter, or get mad that unicorns aren’t real, or that I can’t travel back in time and buy apple stock. Still, sometimes it stings thinking of my 24 year old self innocently buying enough bitcoin to pay off my mortgage and then casually tossing it in a folder on my iMac probably named something cute like “random desktop shit.” What can you do? Life’s definitely not fair. 🤷🏻♀️
Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k. Bought in 2009, currency's rise in value saw small investment turn into enough to buy an apartment in a wealthy area of Oslo.
2009-2029 is actually the accumulation phase... however congested or expensive Bitcoin gets in the meantime is immaterial and are going to be worth it to anyone who is buying into Bitcoin... people won’t start really spending their bitcoin day to day until 2030
These people who want immediate changes to the protocol rules don’t realize that 10 years is not that long of a time and we really need to gain more adoption and education before we make serious changes to the protocol.
"Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k. Bought in 2009, currency's rise in value saw small investment turn into enough to buy an apartment in a wealthy area of Oslo." - /r/worldnews (+3659) [October 30, 2013]
Man bought $27 of bitcoins in 2009 and they’re now worth $980k
A Norwegian man who bought $27 worth of bitcoins in 2009 and forgot about them discovered their value had since shot up – to $980,000 at today’s price. Kristoffer Koch decided to buy 5,000 bitcoins for only 150 Norwegian kroner ($26.60) in 2009, after discovering bitcoin as part of an encryption thesis he was working on. Koch probably didn’t think he would become wealthy as a result, but his 5,000 BTC has turned into a goldmine. It was a wise investment by someone who stumbled across bitcoin before many others did. Koch found that his bitcoins were worth 5 million Norwegian kroner ($886,000) when he checked back in on them. At the current Bitcoin Price Index of $196, those coins are now worth about $980,000. After purchasing the 5,000 bitcoins, Koch pretty much forgot about them altogether. That is, until the price shot up to over $200 back in April and he started seeing press coverage about bitcoin’s rise. “I thought to myself, didn’t I have something like that?” Koch told NRK, a Norwegian news outlet. He did, and after figuring out the password to his wallet and seeing how valuable those bitcoins had become, he sold off a portion of them. Now he has an apartment that he purchased in an expensive part of Oslo, Norway. All thanks to the huge price gain that bitcoin has experienced, mostly in the past year.
[uncensored-r/Bitcoin] Lily Allen turned down 200K in Bitcoins for a gig in 2009 which is worth $1,426,199,000 as of thi...
The following post by Hync is being replicated because some comments within the post(but not the post itself) have been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7aq0fx The original post's content was as follows:
The highest price for bitcoin since it was launched in 2009 was $19,497 in December 2017. After that spike, the price trended down to $6,603 in April 2018. Bitcoin's price is gradually rebounding, buoyed by increased demand for the digital currency in China caused by the weakening yuan : digital currency, like gold , is a refuge for investors ... When the Bitcoin was mined, on February 9, 2009, it was practically worthless. Bitcoin didn’t really have a value until Laszlo Hanyecz bought two pizzas for 10,000 Bitcoin on May 22, worth ... A Norwegian man who bought $27 worth of bitcoins in 2009 and forgot about them discovered their value had since shot up – to $980,000 at today’s price. Imagine If You Bought $1, $5, $10, $100 or $1000 Worth Bitcoin in 2009 How much money would it be worth Today? Down Below we created table with indication of bitcoin worth by years. At this table you can see how many is your wealth in USD. There are several conditions that we assume by default. A Bitcoin wallet from 2009 made its first transfers in over 11 years, sending $400,000 worth of BTC to an exchange. While the crypto-community hailed the return of Satoshi, some points show it is unlikely to be Bitcoin’s mysterious creator. Is Satoshi Moving BTC? A tweet by WhalePanda, a popular account that tracks crypto movements from prominent wallets, said late on May 20 that 50 BTC ...
A Small investment of just $100 In 2009 (If the Stats Are True) Would be worth a whopping $8 Billion Today! (Bitcoins Price When I Checked *$8,075*. Hopefully that can still happen with the Alt ... This animation show's the distribution of bitcoin value in the blockchain over it's entire history. Age is determined by all bitcoins associated with a particular public key and it's date of last ... In this video we are talking about rare 2009 pennies worth money and valuable pennies to look for! worth the most.Thank You for watching and as always rememb... Bitcoin history – Price 2009 to 2018, Charts, Data – Bitcoin View Bitcoin's price since its inception in 2009 and all the way up to today. Complete with historical events and how they affected ... Look for the price of lotto ticket you can hold bitcoins for 10 years and become a millionaire it's time you stop living in fear. If it goes to zero you lose...