Topic: Software Engineer Buys 20,000 BTC in 2010, Quits Job to Travel Around Globe - page 2. (Read 2117 times)
July 12, 2017, 01:16:15 AM
I wish i could have be in his position but i am sure am not having enough courage to buy bitcoin now and wait till his speculation comes true 1,50,000$ . But the time he started i dint even dream about bitcoin even i dint heard about the world crypto currency. In my understanding its all about meeting right things or right people in life make lots of difference.
July 12, 2017, 01:11:28 AM
I just wonder how it became possible for him to foresee the future. I read somewhere in 2009 and in 2010 the miners put bitcoins for sale in ebay but no one was ready to grab them. When trend was like that, if someone decided to grab 20k bitcoins in 2010 must be a genius who got capabilities to foresee what is going to happen.
I mean to say he must deserved the wealth he could get from his bitcoins. Buying some bitcoins in 2010 is not a big deal but holding them till date must be differentiating such people from rest.
I mean to say he must deserved the wealth he could get from his bitcoins. Buying some bitcoins in 2010 is not a big deal but holding them till date must be differentiating such people from rest.
July 12, 2017, 01:08:52 AM
There is no way to verify this story.
Unless, of course, the so-called millionaire signs a message from a 1000 BTC address saying that he is the one sighted in the article.
Unless, of course, the so-called millionaire signs a message from a 1000 BTC address saying that he is the one sighted in the article.
What will that accomplish? Anyone with 1000 coins can sign a message saying that they are the guy in this story. I will never do that, because this will compromise my identity and that address will be scrutinized by everyone. I would also not store all those bitcoins in one address. I will have split the coins over several addresses to make it easier to sweep coins from paper wallets < cold storage > to online wallets or hardware wallets. < It is just more practical and secure >
If by some miracle people figure out your private key for 1 address, then you lose all your coins in one go. ^stupid^
You make a good point that anyone having 1000 BTC can sign a message and there is no way we can verify if that's the same person.
Regarding compromised identity: my understanding is that someone who has 20,000 BTC would be wise enough to sign a message in such a way that he can't be doxed.
July 12, 2017, 01:02:30 AM
There is no way to verify this story.
Unless, of course, the so-called millionaire signs a message from a 1000 BTC address saying that he is the one sighted in the article.
Unless, of course, the so-called millionaire signs a message from a 1000 BTC address saying that he is the one sighted in the article.
What will that accomplish? Anyone with 1000 coins can sign a message saying that they are the guy in this story. I will never do that, because this will compromise my identity and that address will be scrutinized by everyone. I would also not store all those bitcoins in one address. I will have split the coins over several addresses to make it easier to sweep coins from paper wallets < cold storage > to online wallets or hardware wallets. < It is just more practical and secure >
If by some miracle people figure out your private key for 1 address, then you lose all your coins in one go. ^stupid^
July 12, 2017, 12:49:16 AM
There is no way to verify this story.
Unless, of course, the so-called millionaire signs a message from a 1000 BTC address saying that he is the one sighted in the article.
Unless, of course, the so-called millionaire signs a message from a 1000 BTC address saying that he is the one sighted in the article.
July 12, 2017, 12:44:41 AM
Very smart in buying Bitcoin early, not that smart cashing some out and quitting the job so early 
Just my opinion tho...
Just my opinion tho...Life is made for living. He has more than 20 millions dollars in the bank, no way I would be working if I had that.
Besides, as a software engineer he can always find work in the future if the need arises.
July 11, 2017, 11:12:11 PM
Another fake story.
To buy Bitcoin in 2010 you must to be an oracle, a choosen one , a son of a God..There was no info available about BTC till 2013.
But nice try...I like this story about unnamed billionars and crypto early adopters.
To buy Bitcoin in 2010 you must to be an oracle, a choosen one , a son of a God..There was no info available about BTC till 2013.
But nice try...I like this story about unnamed billionars and crypto early adopters.
I'm been here since 2011. This forum was quite busy already, and there was already a pretty large bitcoin community when I discovered it.
And there was tons of info, including mainstream media stories, in 2011.
July 11, 2017, 10:13:14 PM
he didn't spend 3k for 20,000 BTC in 2010 that is far too overpriced - maybe 20 bucks, but not that much.
July 11, 2017, 10:04:59 PM
The recent meteoric rise of Bitcoin and other cryptocurrencies has led to the appearance of some unlikely millionaires. A recent interview by Forbes magazine shows just how powerful Bitcoin has been over the course of the past decade for those who invested early.
The interviewee, a former software engineer in Silicon Valley, asked to remain nameless. However, he did explain that he started purchasing Bitcoin in 2010 after doing some research. He decided that the purchase should be sizable enough to provide some real upside, should Bitcoin ever increase in value, and so he bought $3,000 worth, or, at the time, 20,000.
When the Bitcoin price really started to jump, he made his first sale of 1,000 Bitcoin, netting him $2.6 mln. Since then, he’s quit his day job and now travels the world, flying first class and staying only in five-star resorts.
After explaining his multiple sell-offs, and the $25 mln in profits he’s realized thus far, he explained that he sees Bitcoin values at $150,000 in the long term. “I really do think it will get there,” he says confidently, "But a lot of governments and companies will have to be on board, first. No amount of speculation in the world will push it that high.”
Well, Everyone dreaming about that.The interviewee, a former software engineer in Silicon Valley, asked to remain nameless. However, he did explain that he started purchasing Bitcoin in 2010 after doing some research. He decided that the purchase should be sizable enough to provide some real upside, should Bitcoin ever increase in value, and so he bought $3,000 worth, or, at the time, 20,000.
When the Bitcoin price really started to jump, he made his first sale of 1,000 Bitcoin, netting him $2.6 mln. Since then, he’s quit his day job and now travels the world, flying first class and staying only in five-star resorts.
After explaining his multiple sell-offs, and the $25 mln in profits he’s realized thus far, he explained that he sees Bitcoin values at $150,000 in the long term. “I really do think it will get there,” he says confidently, "But a lot of governments and companies will have to be on board, first. No amount of speculation in the world will push it that high.”
This is another successfull story.
With seeing this our motivation will increase.
But he sure is patient and of course a genius, not to boot.
He knew that bitcoin have a really great potential in the future.
And he proved it.
July 11, 2017, 09:26:20 PM
Another fake story.
To buy Bitcoin in 2010 you must to be an oracle, a choosen one , a son of a God..There was no info available about BTC till 2013.
But nice try...I like this story about unnamed billionars and crypto early adopters.
To buy Bitcoin in 2010 you must to be an oracle, a choosen one , a son of a God..There was no info available about BTC till 2013.
But nice try...I like this story about unnamed billionars and crypto early adopters.
It's not a fake story at all, there are people on this forum who became millionaires through bitcoin e.g. reptilia, Elwar etc
I know, right? Just because the guy above only found out about Bitcoin in 2013 doesn't mean everyone else is the same. An old friend of mine bought close to 10,000 Bitcoins for just $1 each back in 2011. Needless to say, people who heard about it back and and took the leap of faith are sitting pretty right about now.
July 11, 2017, 09:08:39 PM
Just keep on stacking BTC and in the long term history will be on our side and we will be rich.
Yes but sadly we will never be able to stack up to 20,000 even 20 BTC is a dream for me. But who knows maybe in a few decades 1 BTC will be worth as much as 20,000 BTC is worth today. July 11, 2017, 05:59:39 PM
It really is a great story. I don't know if it is fake or not but can happened, why not. It is very rare to hear about story like this, not much people made this kind of financial achievement. This man believed in it and that other guy bought pizza for, how much? 10000 bitcoins?... I also think that it is pretty big amount to invest in something that is unknown. I am sure that he did lot of research but I don't know... 3000$ is big amount, pretty optimistic investment but he 'bet' hard and he won. Good for him 
July 11, 2017, 05:20:06 PM
Another fake story.
To buy Bitcoin in 2010 you must to be an oracle, a choosen one , a son of a God..There was no info available about BTC till 2013.
But nice try...I like this story about unnamed billionars and crypto early adopters.
Yet some people have bought it and others have mined it. What about all those people who were buying pixels on a random site for real money? Bitcoins at least had a purpose and it was possible to use them as a payment. Pixels didn't, it was just an experiment, and yet it worked. People sometimes buy useless things, this is a fact. Some of us get lucky with our purchases. To buy Bitcoin in 2010 you must to be an oracle, a choosen one , a son of a God..There was no info available about BTC till 2013.
But nice try...I like this story about unnamed billionars and crypto early adopters.
July 11, 2017, 05:01:52 PM
Very smart in buying Bitcoin early, not that smart cashing some out and quitting the job so early Just my opinion tho...
Just my opinion tho... 
July 11, 2017, 03:20:26 PM
Another fake story.
To buy Bitcoin in 2010 you must to be an oracle, a choosen one , a son of a God..There was no info available about BTC till 2013.
But nice try...I like this story about unnamed billionars and crypto early adopters.
To buy Bitcoin in 2010 you must to be an oracle, a choosen one , a son of a God..There was no info available about BTC till 2013.
But nice try...I like this story about unnamed billionars and crypto early adopters.
It may be a fake story, but you are wrong about the rest.
Mt. Gox, along with several other trading sites, were started in 2010 and there were lots of people trading bitcoins at that time.
Silk Road was started in 2011, and there were lots of people using bitcoins at that time.
July 11, 2017, 02:39:30 PM
The recent meteoric rise of Bitcoin and other cryptocurrencies has led to the appearance of some unlikely millionaires. A recent interview by Forbes magazine shows just how powerful Bitcoin has been over the course of the past decade for those who invested early.
The interviewee, a former software engineer in Silicon Valley, asked to remain nameless. However, he did explain that he started purchasing Bitcoin in 2010 after doing some research. He decided that the purchase should be sizable enough to provide some real upside, should Bitcoin ever increase in value, and so he bought $3,000 worth, or, at the time, 20,000.
When the Bitcoin price really started to jump, he made his first sale of 1,000 Bitcoin, netting him $2.6 mln. Since then, he’s quit his day job and now travels the world, flying first class and staying only in five-star resorts.
After explaining his multiple sell-offs, and the $25 mln in profits he’s realized thus far, he explained that he sees Bitcoin values at $150,000 in the long term. “I really do think it will get there,” he says confidently, "But a lot of governments and companies will have to be on board, first. No amount of speculation in the world will push it that high.”
The interviewee, a former software engineer in Silicon Valley, asked to remain nameless. However, he did explain that he started purchasing Bitcoin in 2010 after doing some research. He decided that the purchase should be sizable enough to provide some real upside, should Bitcoin ever increase in value, and so he bought $3,000 worth, or, at the time, 20,000.
When the Bitcoin price really started to jump, he made his first sale of 1,000 Bitcoin, netting him $2.6 mln. Since then, he’s quit his day job and now travels the world, flying first class and staying only in five-star resorts.
After explaining his multiple sell-offs, and the $25 mln in profits he’s realized thus far, he explained that he sees Bitcoin values at $150,000 in the long term. “I really do think it will get there,” he says confidently, "But a lot of governments and companies will have to be on board, first. No amount of speculation in the world will push it that high.”
Being a Software Engineer myself, I can say that trading in bitcoins can earn you more than a regular day job unless you're working in a big company or are at a higher position in European countries. Investing $3000 is still risky for a currency that was just a year old back then in 2010. Also, he must have had to pay a huge tax on that amount today which cannot be even sold on any exchange in big batches. Max exchanges allow 20-30 btc at a time and for bigger amounts, they require a lot of verification.
July 11, 2017, 02:32:52 PM
Living the dream!
July 11, 2017, 02:31:56 PM
I don't really understand his argument that governments need to be on board so that the value can rise to 150K$. Governments aren't really interested in deflationary currencies. They want inflationary currencies, and they want to control that inflation. Bitcoin doesn't offer that.
July 11, 2017, 02:22:22 PM
Just keep on stacking BTC and in the long term history will be on our side and we will be rich.
Yes but sadly we will never be able to stack up to 20,000 even 20 BTC is a dream for me. But who knows maybe in a few decades 1 BTC will be worth as much as 20,000 BTC is worth today. I love your optimism.
Let's do the math on that. 1 bitcoin is worth ~$2375 today. 20,000 Bitcoin is worth ~47.5 million. As much as the finite supply plays into the price growth opportunity (particularly when demand is very much still in the early stages), there's no way 1 bitcoin will be worth $47 million.
That's so far past the moon, it's just not going to happen. I don't believe there are enough people in the world to generate the demand required to send the price to that level.
I do love your optimism though.
Even in the longer-term nor do I see anything like $47 million. A $20,000 price for BTC would be perfectly OK with me as long as I can HODL on to my "stack".
When looking at the longer-term though, it is worth keeping in mind that most technologies become obsolete as newer technologies come on-stream... Such is my guess re BTC, something in the next (5? 10? 15? 30?) years will come along and turn BTC into buggy-whips.
July 11, 2017, 02:19:35 PM
confidently, "But a lot of governments and companies will have to be on board, first. No amount of speculation in the world will push it that high.”
I don't believe this story.
Typical engineers live modest life.
No one stops the government from "be on board" as long as they "be on board" like everyone else. Bitcoin has been going up this while without government "be on board" the uptrend won't stop anytime soon.
If people like Bitcoin they will definitely invest in Bitcoin & price will keep going up.
I don't believe this story.
Typical engineers live modest life.
No one stops the government from "be on board" as long as they "be on board" like everyone else. Bitcoin has been going up this while without government "be on board" the uptrend won't stop anytime soon.
If people like Bitcoin they will definitely invest in Bitcoin & price will keep going up.
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