Is it possible for early adopters of BTC to still have upto 50,000 BTC?

bug.lady

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Quote from: Pan Troglodytes on November 21, 2017, 02:16:50 AM

Quote from: justcharlz on November 21, 2017, 01:31:57 AM

Just wondering because buying BTC when it was next to nothing or less than a dollar and then seeing it grow to like $100-$500 and more, I have a feeling that they would have sold a significant part of their hodlings to cash out on the profit over the years.

Sure you can buy 50,000 BTC, it just requires that you invest some 800 000 000 usd

or was it 400 000 000 ?

stompix

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Quote from: justcharlz on November 21, 2017, 01:31:57 AM

Just wondering because buying BTC when it was next to nothing or less than a dollar and then seeing it grow to like $100-$500 and more, I have a feeling that they would have sold a significant part of their hodlings to cash out on the profit over the years.

The Winklevoss twins have over 100 000 btc.
It is claimed that Ross Ulbricht has even more but nobody is sure about it.
Tim Draper bought 30 000 coins, at the FBI auction.
Nobody is sure how many coins Tony Gallippi (bitpay) or Roger Ver (still has).
Not counting Jihan, and the owners of both stamp and bitfinex, or even Karpeles.
And don't forget "loaded', he had at least 40k coins.

hasmukh_rawal

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Quote from: mobnepal on November 21, 2017, 01:34:58 AM

Yes you are right but still some of the old bitcoin address is holding significant amount of bitcoin. However we can't say whether they are still under control of their original owner or not. Many early adopters or miners might have lost access to their wallet because those days bitcoin was just worthless and many might have forget to backed up their wallet properly.

Yeah that's true. Who knows whether they are still alive or not. If dead then the BTC must be lost forever Undecided

My friend still has around 100 BTC since he bought it when the price was just $1 . Lucky guy, now he is a millionaire but is facing problems withdrawing the money since banks will seize his account if he withdraws such a huge amount in bank and there is no seller with such a huge amount in cash.

mathiaslivis

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There is a consensus in bitcoin circles that, if he is a miner, he is not very short of money, then he will not sell his bitcoin. So I don't think this selling behavior is enough.

kueyen

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It's impossible to know for sure so it's purely speculation at this point. I think it is extremely unlikely that people who had 50K bitcoins did not cash out back when bitcoin started to rise some time ago. What is in my opinion likelier is that people got thousands of coins for like $500,and completely forgot about it/cannot reach their wallets because they forgot their passwords. This is really tragic imo

CuriousGeorge

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Maybe the answer could be found out by finding some addresses that still holds more than 50,000 BTC from when bitcoin is not yet a thing until bitcoin becoming what it's now.
Pretty much sure that majority of early adopters cashing out whenever they consider to cash out by looking at the rate. Just see those early adopters' news regarding them cashing out their btc for buying lambos and else, as what I read, majority selling bitcoin at the rate of $4000. But, it's still biased.

Pan Troglodytes

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Quote from: justcharlz on November 21, 2017, 01:31:57 AM

Just wondering because buying BTC when it was next to nothing or less than a dollar and then seeing it grow to like $100-$500 and more, I have a feeling that they would have sold a significant part of their hodlings to cash out on the profit over the years.

Sure you can buy 50,000 BTC, it just requires that you invest some 800 000 000 usd

winyau8888

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Those were the days when many of us see BTC as nothing because it is really nothing. And I am sure only few of them are holding those amount till now.
No one except it pump up that crazy, most of them already sold them for hundreds bucks.

I remember I read a thread dated on 2011 when someone asked help what can be invest in which he only have few hundreds dollar. And a very famous Sci-fi writer replied he should buy BTC, keep it safe and forget it.
Then check it after ten years.

That is a real story but I do not know did he do it or not.

But I know the Sci-Fi writer are billionaire now.

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Quote from: justcharlz on November 21, 2017, 01:31:57 AM

Just wondering because buying BTC when it was next to nothing or less than a dollar and then seeing it grow to like $100-$500 and more, I have a feeling that they would have sold a significant part of their hodlings to cash out on the profit over the years.

Well, we cannot be sure about it. But I guess it is still very much possible, especially to those who really believed in the project and was able to hoard a good deal of Bitcoins earlier. For sure, these early believers of Bitcoin have already dumped some portion of their holdings, but because they own so many of them and upon seeing that the future of Bitcoin is still very much brighter, they must have some remaining Bitcoins. But if we have some of these early birds' addresses, we can easily check them through the blockchain.

iamTom123

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Quote from: justcharlz on November 21, 2017, 01:31:57 AM

Just wondering because buying BTC when it was next to nothing or less than a dollar and then seeing it grow to like $100-$500 and more, I have a feeling that they would have sold a significant part of their hodlings to cash out on the profit over the years.

Very likely they also did spend some of their Bitcoin holding especially when the value significantly soared to the sky. This is just human nature especially with the fact that there is no guarantee what the future may hold and nobody can predict what can be. We are seeing a good Bitcoin right now but back then the coin experienced many ups and downs which can send some cold sweat to anyone who is not having a gambling mentality.

Still, at the current rate, you don't need that many Bitcoin to be considered as rich because of cryptocurrency. Just 150 Bitcoin can already induct someone into the millionaire table and soon when it will rise further just 100 pieces is enough to be in the middle class (at my country's standard).

WhichIsGood

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Definitely possible. Some might have sold theirs when BTC was at half its value today but i still believe that there are some early adopters that are still holding/stocking up btc up to this point. These people might have thought that bitcoin could still be more valuable in the future, and they were right because look at what bitcoin has achieved today.

Herbert2020

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is it possible that some early adopters/investors in Apple, Microsoft, Facebook,... or one of those big corporations with stocks still has a large amount of stocks (like 500,000 shares) and bought it at some low price (like $1) and still is holding it?

the answer is the same as what you are asking here!
some obviously have bought at low prices years ago, some of them sold, some held, some sold some and held some,....

example:
if you bought berkshire hathaway shares back in 1980 when it was worth $200 you could have bought 20 with just $4000
now that is worth $270,000 per share or $5,400,000 for 20. Cheesy

Warren Buffett is the primary shareholder of this thing...

mobnepal

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Yes you are right but still some of the old bitcoin address is holding significant amount of bitcoin. However we can't say whether they are still under control of their original owner or not. Many early adopters or miners might have lost access to their wallet because those days bitcoin was just worthless and many might have forget to backed up their wallet properly.

justcharlz

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Just wondering because buying BTC when it was next to nothing or less than a dollar and then seeing it grow to like $100-$500 and more, I have a feeling that they would have sold a significant part of their hodlings to cash out on the profit over the years.

Topic: Is it possible for early adopters of BTC to still have upto 50,000 BTC? (Read 371 times)