Topic: My 500 BTC faucet donation (Read 2642 times)

Honestly, if the faucet still existed, I probably would have gotten a higher ROI from karma... than a year late miner. :-P

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true! but it feels like 500BTC per tank at times 

in 1996/7 my bank offered me facilities to accept credit card payments on behalf of others (they called it a "buero service", that they had not provided to anyone else at the time)... just as paypal do today, but at the time, i could not see the point so declined....  

todays UK BTC price is about £500. 0.15BTC will fill my tank (£75).. hmm unless you literally mean a military tank

your not the only one.

a few people in March bought up 10x avalons at 72BTC each. (720BTC)
fiat total value at the time ~ $36,000
just 8 months on, their investment would be $500k if hoarded as coins.. without buying the kit
or not yet to reach ROI in regards to getting back 720 coins.. by buying the kit. (although they would still be holding a few hundred coins by now)

well atleast that is not as bad as the butterfly labs bait and switch customers.

i hope stories of the many others that are at a "potential" FIAT loss helps sooth the mood you are in, your not alone

you want to try living in the UK, 500BTC will only just about fill a tank right now (we are over $10 a gallon at the moment....  )

Maybe im exaggerating on the 500BTC, but it feels this way sometimes

Consider that at the time the 500 bitcoins that were donated were not even enough to fill up your tank with gas, not even close... even if there was a gas station or friend you could convince to fill that tank in exchange for them.

I swore I would hold a couple hundred, and had not a certain company come along with promises of product delivery much much sooner I would still have those, period.. They would have never been able to pry them from my cold dead encrypted hands.  Most of the coins that were mined were spent back in support of bitcoin itself.... socks... the dryest hardest, cracker like, beef jerkey I ever had, commemorative coins, bitsquirrel shirts, etc and so forth and so on.  Getting goods for GPU cycles was a blast, and I enjoyed it.

I can only tell myself that's what they were worth at the time, and as for the late delivery on my next generation gear, had I known they would have decided to have such a long burn in period before deciding to ship.. well I would have either skipped it, or converted some cash.  At the time my worst calculations on ROI for that tardy gear put me BTC even, so I decided to pony up my keeper coins.. Who would have guessed my conservative worst case figures on when they would actually deliver were so far off the mark.. I guess dems da breaks...  I'm sure I wasn't the only one.

Easy come, easy go as they say.

https://wikipedia.org/wiki/K_Foundation_Burn_a_Million_Quid - Amateurs !

https://www.youtube.com/watch?v=i4xpR2m2YtQ

https://www.youtube.com/watch?v=n0KPnb826zg

https://www.youtube.com/watch?v=5ZTYNBtUbNQ 

My opinion: There's still plenty of time to make a life-changing amount of money here. Depends how long it is.

Imagine you could have invested in the future potential of 'the internet' in '91. You could have made a killing. And in '95-'96 people were really just starting to see it's potential. And you still would have made a killing then.

That's where we are now.

The world hasn't seen nothin' yet.

+ 1 (was about to say this)
But i do feel your pain too!

Its an old post of mine from when I donated 500 BTC to Gavin's 1st Bitcoin faucet, because it was running low on BTC.

Crazy days !

To true. I also choose to make this post for historical purposes.

what exactly is this thread?  you regret the donation, is that correct?

500 BTC... wow, that's a lot.  :S

Thank you I guess.

Its hard to portray to people today that when I donated 500 BTC its wasn't worth anything.

I did think at the time that one day I might regret it and perhaps I should keep it, but it took another year or so for some of my personal predictions for Bitcoin to take hold and for Bitcoin to start being more widely accepted.

I did intended to be able to mine more, but for various reasons it wasn't to be.

We continue !

Think of it like this- maybe your donation helped make bitcoin what it is today. If we all hoarded, then what?

i didn't get in on this, as i wasn't around at the time. i'd like to say you are one crazy mfer, but thanks for spreading the love. i don't know giving away BTC to random people is a good idea, especially since they can be greedy assholes (who knows?).. but the fact that you are willing to just give away a fortune like that shows that there are some people in the world who are not my mongrels.

https://bitcointalksearch.org/topic/m.7536

With Bitcoins value currently at an all time high its increasingly difficult for myself to accept my 500 BTC donation to the first faucet.

This is now a life changing sum of money for anyone.

As someone who has struggled for years with various IT projects and who fell on hard times, its really sad not to have this kind of capital available.

It's not so much the money, its really more about the missed opportunities and potential as to what I could now do with that kind of money i.e. the projects I could easily start, the people I could employ, the projects I could of helped other people to start or the charities and individuals I could of donated to, not least some members of my extended family who are quite ill. For myself, it would just be good to be debt free again and to be able to properly focus once more on the work and things that I'm good at.

Anyway, there are many more people in this world in a fair worse situation than myself. Although, I don't think there can be many of this world who can say that they once made a monetary donation that was larger than all of the money they ever had or probably ever will have.

I continue to mine Bitcoin and support alternative currencies along with everyone else and maybe someday I'll be able to find some luck once more, but I'll also continue to work to make my own luck.

Oh well, I guess that some of us were just here to soon... "C'est la vie".

Although it does feel rather good to know that you were mostly right from the outset. Bitcoin at these prices is still a good thing.

Congratulations Satoshi (and others) ! So far, so good !

Hopefully we will all still be around when BTC1 = $10,000 (If dollars are still around then ofc).

It only happens if people make it happen afterall, well supposedly.