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I always wondered this (Bitcoin Question) (self.Buttcoin)

XoXFaby が 投稿

In the beginning wasn't it super easy to mine Bitcoin? Like people got a buttload? Are those people just rich now cause they got lucky and held a bunch of them or am I missing something? I figured someone here might be able to answer this.

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[–]kim_so_il 2ポイント3ポイント  (1子コメント)

I think the noble answer is that if these people sold out they would crash the economy they so painstakingly created.

But I'd imagine more realistically a lot of the wallets were lost. I started mining dogecoin when they weren't worth anything but tipping on reddit and I'm sure I lost a ton of them not backing up wallets.

[–]XoXFaby[S] 0ポイント1ポイント  (0子コメント)

All of them yeah but I mean, if I held say 1000 Bitcoin right now, which I assume is something I could've gotten back then, would I be able to cash it out?

[–]jstolfi 1ポイント2ポイント  (0子コメント)

There is evidence that Satoshi himself mined 1 million BTC or more in those early days. His coins have not moved since then.

When this table was created (after block 400'000), there are 109 addresses that have 10'000 BTC (4.5 million USD), each. Most of those addresses must have been filled in 2013 or earlier, when the price was 10 USD/BTC or less. So each owner of one of those addresses probably spent less than 100'000 USD and now own bitcoins worth 4.5 million USD

[–]2009miner 0ポイント1ポイント  (0子コメント)

This is a good question.

[–]dgerard 0ポイント1ポイント  (1子コメント)

Pretty much. The time to get into Bitcoin if you wanted to win at an asset bubble was 2009.

[–]XoXFaby[S] 0ポイント1ポイント  (0子コメント)

Man that just makes you wonder.

[–]Barry_Scotts_Cat 0ポイント1ポイント  (0子コメント)

Some are, some of the b"big names" you hear today had thousands of coins.

The "10000 bitcoin pizza" story for example, just shows how little they were worth.

Thing was, they either had to hodl them, or spend them.

[–]VirtualMoneyLover 0ポイント1ポイント  (0子コメント)

The thing is, it is really hard to just hold any asset for years, when the price keeps going up, but not in a straight line. So let's say you mined 10K coins, and the price is at $32 (the first peak). That is already good money, so chances are you would have cashed out at least some of it.

Now the price collapsed to $2, so once you live through such a roller coaster, chances are when next time it hits another peak or the same peak, you cash out.

Now if you have been mining all along until it got real hard, that is a different question, but early coins got used up, lost, etc.

Yes, there are a few bitcoin millionaires from the early days but most didn't hold it for long enough...