Here is an interesting fact from the past. While I was checking satoshi’s posts, I came across an interesting thread. In this thread, satoshi talks about the size of the blockchain and the time which is needed to download and verify it.
He mentioned SPV clients and how they would be used in the future. He then went on to talk about something very interesting. He talked about online wallets and web-based wallets and how easy they were to use, compared with learning to work with a brand-new bitcoin software.
In the meantime, sites like
vekja.net and
www.mybitcoin.com have been experimenting with account-based sites. You create an account on a website and hold your bitcoins on account there and transfer in and out. Creating an account on a website is a lot easier than installing and learning to use software, and a more familiar way of doing it for most people. The only disadvantage is that you have to trust the site, but that's fine for pocket change amounts for micropayments and misc expenses. It's an easy way to get started and if you get larger amounts then you can upgrade to the actual bitcoin software.
Was the creator of bitcoin suggesting that online custodial wallets were a good alternative, especially for smaller amounts?
...snip...
At that time, account-based sites were somewhat of a novelty and most certainly other such third party websites have cost numerous Bitcoin users to miss out on the large percentage fiat gains over the years, in terms of today's bitcoin prices.
Whilst these type of services can provide a useful introduction to Bitcoin, satoshi is also quite clearly advocating running a full node and holding coins in wallets with private keys known only to the owner.
Not your keys; not your coins! etc.,
...
Smaller amounts of Bitcoin's are always relative ... you only need to look at the earliest Bitcoin exchanges to realize the opportunity cost paid by the earliest adopters.
-
http://newlibertystandard.wikifoundry.com/-
http://newlibertystandard.wikifoundry.com/page/2009+Exchange+RateVerifying my (old) zero balance wallet address for blockchain research etc.,
-
https://bitcointalksearch.org/topic/verifying-my-old-zero-balance-wallet-address-for-blockchain-research-etc-463006665 mined blocks x 50 coins = 3250 BTC x $22,750 = $73,937,500
Fig. 1
...
Unbelievable that the old website still be here. The information on email hosting fee (25 bitcoin every week) is another story after the 2 bought pizza with 10,000 bitcoin.
10 Years After Laszlo Hanyecz Bought Pizza With 10K Bitcoin, He Has No Regrets.
It is a very big regret if look back but in life, I think what was done, let it be and go forward. I am not the person who bought 2 pizza with 10000 bitcoin or paid a email hosting service with 25 bitcoin each week but I made some mistakes and stupid decisions. I tried to not feel regret about it, accept it and keep going.
Those other stories are donators and VIP members of the forum. They donated 10 or 50 bitcoin to support the forum and get a title Donator or VIP and badges. How do they feel about their past decisions today?
https://bitcointalk.org/donate.htmlPizzas, don't talk to me about Pizzas ...
Thanks for the trade BitcoinFX!
Your welcome laszlo ! ( delayed response - lol ) I hope you enjoyed your Pizza
Thanks also to everyone else who has used my BitcoinFX Exchange.
...snip...
A slice of real Bitcoin history ...
Bitcoin - The First Exchanges ...
-
https://threadreaderapp.com/thread/1222242972827377665.html...
I doubt that satoshi ever used a web wallet.
Many others who did arguably increased the value of coins of those who did not !
Something, something lost down the side of the proverbial digital sofa ...
