"Why haven't the earliest participants sold their Bitcoin, and some haven't even

CryptSafe

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Quote from: angrybirdy on December 03, 2023, 01:13:52 AM

Quote from: CryptSafe on November 30, 2023, 06:06:49 AM

I strongly believe that Bitcoin early birds were very smart enough to get hold of the system smartly. Most of the dormant wallet you see holding Bitcoin for years are just alternate wallets by those who were opportuned to get hold of Bitcoin and they decided to hodle some of their wallet for a very long time while they merry with other wallets holding some worth portion of Bitcoin to sustain themselves.

However, some might be as a misplaced key phrase which the owner has long lost access to or death of the owners as already mentioned by other members here.

possible that they have various reason why they really want to hold their coins for a very long time. It's a case to case basis. There are some kind of investors who have set a proper timeline before they sell their investments, as long as they have enough money and savings for their daily needs, they don't have to move their investments unless there's a crucial reason to use it.

I read something here in forum before that one of the reasons why they haven't sell their hodling is because it's been so long, that they can't remember where their wallet IDs are, just like what you've mentioned, some of them misplaced their key phrase and Other reason is about technical issues just like Lost device and computer system issues.

It is true that most of the wallet holders might have had one issue or the other that warranted them to ignore the wallets holding their Bitcoin assets. However, that does not mean that.the issue of wallet key phrase is the only problem they are facing but rather some might be as a result of their holding for a long time so as to accumulate huge amount of profit on the long run.while some are another issue.
But in all, there must be one reason or the other that warranted wallets of that nature to be inactive irrespective of the number of years the wallet has stayed.

angrybirdy

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Quote from: CryptSafe on November 30, 2023, 06:06:49 AM

I strongly believe that Bitcoin early birds were very smart enough to get hold of the system smartly. Most of the dormant wallet you see holding Bitcoin for years are just alternate wallets by those who were opportuned to get hold of Bitcoin and they decided to hodle some of their wallet for a very long time while they merry with other wallets holding some worth portion of Bitcoin to sustain themselves.

However, some might be as a misplaced key phrase which the owner has long lost access to or death of the owners as already mentioned by other members here.

possible that they have various reason why they really want to hold their coins for a very long time. It's a case to case basis. There are some kind of investors who have set a proper timeline before they sell their investments, as long as they have enough money and savings for their daily needs, they don't have to move their investments unless there's a crucial reason to use it.

I read something here in forum before that one of the reasons why they haven't sell their hodling is because it's been so long, that they can't remember where their wallet IDs are, just like what you've mentioned, some of them misplaced their key phrase and Other reason is about technical issues just like Lost device and computer system issues.

Essential10

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The volatility and unpredictability of the cryptocurrency market may dissuade early participants from selling their Bitcoin. They may fear selling at the wrong time and missing out on potential future gains. Some early Bitcoin adopters may also have ethical or ideological reasons for holding onto their Bitcoin, such as a belief in decentralization and the potential to disrupt traditional financial systems. Furthermore, some early participants may simply not need to sell their Bitcoin at the moment, either because they have sufficient financial stability or because they have other investment strategies in place. It's also possible that early participants are waiting for specific price points or milestones before considering selling their Bitcoin. Ultimately, the decision not to sell Bitcoin for early participants may be influenced by a combination of technical, logistical, personal, and strategic factors. Each individual's situation and motivations will vary, leading to a diverse range of reasons for holding onto their Bitcoin.

doomloop

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Quote from: Lorence.xD on November 30, 2023, 05:57:24 AM

Unless you are one of the people who are holding literally huge amounts of Bitcoin and use it for silly things like the example of the guy who used thousands of BTC just to buy a pizza, big regrets indeed.

Even if the person who did that regrets his decision now after so many years as the price have hugely appreciated, I wouldn't call that purchase to be silly or stupid because it was the demand of the time and he has become one of the earliest people to use Bitcoin to purchase something in the real world at a time when only a few people knew about Bitcoin and its existence, and I believe that's an achievement in itself and it's the only reason why he is so popular and everyone knows the story. I bet no one would know the guy if it wasn't for that crazy purchase using Bitcoins.

Based on this theory, anyone who uses Bitcoin to buy something or even convert them to cash right now will be making a silly move according to the people in the future when Bitcoin will be worth maybe 100 times more than what it is right now, but that's a wrong mindset because we tend to pay for things with assets based on their value in the present and we don't think about what their value might become in the future.

super bako

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I imagine that people who have a lot of bitcoins seem to live their lives freely without any other entanglements, preferring to live a quiet and private life. On the other hand, maybe most Bitcoin wallets have been inactive for a long time, maybe people have died or lost their private keys.

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The earliest participants of Bitcoin often referred to as "Bitcoin whales," may have various reasons for not selling their coins. They might believe in the long term potential of Bitcoin and expect its value to increase further.
Selling a large amount of Bitcoin could potentially cause a significant price drop negatively impacting their own holdings. Some may also view Bitcoin as a store of value or a hedge against traditional financial systems & therefore choose to hold onto their coins. They may have personal reasons such as sentimental value or a desire to support the cryptocurrency ecosystem. Hell, they could even have been so early that they lost access to their coins or got rugged by Gox or similar.

Antotena

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Quote from: 15519028115Q on November 21, 2023, 07:06:42 AM

Why haven't the earliest participants sold their Bitcoin

If I have the opportunity to be among the OGs that had opportunity to have bitcoin in the golden days of bitcoin, I will probably hold some and sell some of them. The reason for selling is to cater for my current financial level because I can't millions in bitcoin without selling some for myself. I will leave the rest to see how the future goes because selling all your bitcoin without having any in your care is like becoming slave to the tradition financial market.

The oldest people are still holding because they are rich already with some they sold back in the days and they are leaving very fine. Most of them like their privacy, so they don't show to the world ttey have this bitcoin to their private keys. Just imagine selling everything at todays price and then next year after the halving bitcoin rose to $100k, that's like 3 times the current price of bitcoin. So why sell your bitcoin when you don't even need the money right now? That's the common sense why I think they are still holding.

CryptSafe

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I strongly believe that Bitcoin early birds were very smart enough to get hold of the system smartly. Most of the dormant wallet you see holding Bitcoin for years are just alternate wallets by those who were opportuned to get hold of Bitcoin and they decided to hodle some of their wallet for a very long time while they merry with other wallets holding some worth portion of Bitcoin to sustain themselves.

However, some might be as a misplaced key phrase which the owner has long lost access to or death of the owners as already mentioned by other members here.

Lorence.xD

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Quote from: dezoel on November 29, 2023, 01:33:06 PM

Quote from: SatoPrincess on November 25, 2023, 06:43:48 PM

I think many of them didn’t backup their private key and have lost access to their wallet. People were careless with wallet security back then, the value of bitcoin was not high so it wasn’t really a big deal to lose sleep over. Once in a while, we see a dormant address suddenly become active and moves coins out the wallet. Another reason would be death, the owner of the wallet may have died and did not make provisions for his family to inherit the bitcoins.

Can't imagine the regret those people have, especially if they have a significant amount of Bitcoins back then. Even if they didn't have, they can always buy more. Those dormant address who suddenly came to life might be from the lucky and knowledgeable pioneer hodlers. It is also possible that some where recovered, and some are from the hacker. They think the public will get tired of tracking them if they keep silent for a long time.

A lot of Bitcoin are lost and out of the circulation because the owner have died. This is why it's important to not be selfish and find a trusted person that we can share our private keys or seed phrases with.

Some might regret and some might not, cause Bitcoin is still part of crypto where volatility exists so people wouldn't still predict or expect the outcome of Bitcoin's market. Unless you are one of the people who are holding literally huge amounts of Bitcoin and use it for silly things like the example of the guy who used thousands of BTC just to buy a pizza, big regrets indeed. Plus people might be too busy to remember to access their wallet as they might have thrown the hard wallet and the fact that from years people might also forget the passwords and seedphrase.

Kaliandra

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Of course there are many reasons why people who used to buy Bitcoin don't sell it until now, even during the bull run they don't sell it, according to what I know, as follows.

1. The reason people don't sell their Bitcoins until now even when the Bitcoin price rises is because they know the potential of BTC in the future but they only have a small amount of BTC for example 5 Bitcoins or 3 BTC because in my opinion people who have a lot of BTC have mostly sold it. even though only half was sold. but for those who have a few BTC people see a lot of potential in the future and see a small supply of BTC, but they are rich people and have a large income in the real world, so they don't sell it because they want a bigger profit in the future.

2. because don't know how expensive BTC prices are and are busy with work in the real world.

3. because of losing the keys or because of death, and the one I hear most often is because of losing the keys.

dezoel

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Quote from: SatoPrincess on November 25, 2023, 06:43:48 PM

I think many of them didn’t backup their private key and have lost access to their wallet. People were careless with wallet security back then, the value of bitcoin was not high so it wasn’t really a big deal to lose sleep over. Once in a while, we see a dormant address suddenly become active and moves coins out the wallet. Another reason would be death, the owner of the wallet may have died and did not make provisions for his family to inherit the bitcoins.

Can't imagine the regret those people have, especially if they have a significant amount of Bitcoins back then. Even if they didn't have, they can always buy more. Those dormant address who suddenly came to life might be from the lucky and knowledgeable pioneer hodlers. It is also possible that some where recovered, and some are from the hacker. They think the public will get tired of tracking them if they keep silent for a long time.

A lot of Bitcoin are lost and out of the circulation because the owner have died. This is why it's important to not be selfish and find a trusted person that we can share our private keys or seed phrases with.

Japinat

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Quote from: taufik123 on November 22, 2023, 04:00:13 AM

Quote from: sheenshane on November 21, 2023, 07:30:34 PM

Op might wonder why there are too many untouched Bitcoins on different old addresses, it's given an earlier post answer, it could be the real owner can't access it or is stuck there because they are dead. I don't think there's a real long-term holder now, it might be a few of them, but the majority will sell Bitcoin in a short period of time when they see a small profit.
-snip-

It's like a kind of Bitcoin graveyard on an address that can't be accessed anymore.
The Bitcoin is motionless and cannot be opened by anyone.
The initial holder must have sold his holdings and if any of them are able to withstand until now, of course he is very great and not tempted by the millions of dollars he can make.

Like Davinci Jeremie, a software developer from Chile who was an early Bitcoin holder who bought Bitcoin in 2011-2013 and still cost $1 at that time.
He can make $10m in just 10 years holding Bitcoin.
But some people also can't hold back too long and sell it at a very cheap price.

Hodling bitcoin for 5 to 10 years is not easy as it is. Those who have succeeded hodling this long might have very deep faith on bitcoin, and luckily their fiat funds are stable and sufficient enough that they won't even think and get tempted to sell even a portion of bitcoin. While others have still faith on bitcoin but due to emergency events that rise all of sudden, no matter how much they want to prolong hodling, they have no choice but to forcely sell their coins early.

Bitcoin gets even more valuable and highly expensive every year. That's why some have chose to hold for their future retirement, while some bitcoin have no trace of transactions probably because the owner has forgotten it or has definitely lost his seed phrase while its still worthless at the time he first purchased it.

EluguHcman

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Has there been prof that none of those firstly investors that invested in the Bitcoin since when it was introduced and was rated at $0 rate and $.01?
I think they must have sold atleast a fraction out of their Bitcoin ever since then.
Although there could be every of its possibilities but by OPs nature of thread it sounds like there is a proof to argue about it.
However, if I can literally or otherwise convinced that there are certain of such earlier investors who hasn't sold any of their Bitcoins since it was established til date then such must be financially stabled investors who likely are not financially bothered and has diverses of investments and doesn't see their Bitcoin incomes generations as one of the means to solving their financial problems instead they want to keep accumulating more and more. Maybe they likely want to see the elastic volatility end of Bitcoin.

Such investors could be the inspirational point of contacts whom the investors of today is deriven its courages to hodl for a long-term goal of investment despites how tempted they could be to seel out their coins in both solving their financial problems and the depreciations of Bitcoin even after appreciated values.

ajiz138

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Quote from: 15519028115Q on November 21, 2023, 07:06:42 AM

Why haven't the earliest participants sold their Bitcoin

Do you care about that? There are many reasons behind it and you never know the truth, so it's none of your business.

Quote from: Ambatman on November 21, 2023, 07:11:48 AM

There are various reasons
Most fall under the category of been unable to access their coins
Either through loss of password or death
While the minority are still holding.
In all I can only speculate since i am not one them.

You could say this is the right reason.
We heard some news from them losing bitcoins because they lost their initial phrases, passwords, dead people that are mentioned does make sense but indeed we all just speculate on their bitcoins at the beginning not moving maybe because of the above reasons mentioned.

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Quote from: philipma1957 on November 25, 2023, 07:16:20 PM

Quote from: DooMAD on November 21, 2023, 07:28:46 AM

Apologies to be blunt, but I believe the answer falls something along the lines of: "None of your business".

When it's your money, you can wonder about what to do with it. If it's not yours, then what the owner is or isn't doing with it is of no concern to you.

I disagree as anyone owning BTC has a vested interest in those coins.

One) they could be consider abandoned and confiscated.
Two) If we wake up tomorrow and 1,000,00 are liquidated over night btc would crash like mad.
Three) everyone needs to realize the power those 1,000,000 plus coins 50 in 20,000 blocks or so wield over btc in general.

If someone would have had the 20,000 private keys to the 20,000 addresses. They would have spent the coins, by now.

The earliest participants did not generate coins to become millionaires. They just participated in an experiment.

experimental software >

At some time in the future, the private keys corresponding to the addresses will be found and the coins will be spent.

philipma1957

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Quote from: DooMAD on November 21, 2023, 07:28:46 AM

Apologies to be blunt, but I believe the answer falls something along the lines of: "None of your business".

When it's your money, you can wonder about what to do with it. If it's not yours, then what the owner is or isn't doing with it is of no concern to you.

I disagree as anyone owning BTC has a vested interest in those coins.

One) they could be consider abandoned and confiscated.
Two) If we wake up tomorrow and 1,000,00 are liquidated over night btc would crash like mad.
Three) everyone needs to realize the power those 1,000,000 plus coins 50 in 20,000 blocks or so wield over btc in general.

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Quote from: Casdinyard on November 25, 2023, 06:51:15 PM

Cause the market's looking promising. We got the halving at the cusp of happening next year, some serious uptrends in bitcoin and other cryptocurrencies with no real signs of ever slowing down, and a pretty thriving crypto industry that's continuously expanding. So it just makes sense for newbies and older participants in this industry to not sell their cryptocurrencies this early.

Although if you're talking about bitcoin's earliest adopters, beats me really. For the most part some of them have ludicrous amounts of bitcoin that they can't just cash out on a whim or it would cause panic buy on everyone below the ladder. So they time their buys, slow their transaction processes, and make moves that don't startle the market so as to not risk devaluing their cryptocurrencies.

There's a crypto market that's getting better and better every day. The vast majority of people have positive expectations for the future and I think that number is growing every day. When you look at what Bitcoin has been through and what it's accomplished, not selling is the right move.

What the early adopters and Bitcoin holders have accomplished is tremendous. It must be great to buy Bitcoin in anticipation and watch all the phases that Bitcoin has gone through over the years.

Casdinyard

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Cause the market's looking promising. We got the halving at the cusp of happening next year, some serious uptrends in bitcoin and other cryptocurrencies with no real signs of ever slowing down, and a pretty thriving crypto industry that's continuously expanding. So it just makes sense for newbies and older participants in this industry to not sell their cryptocurrencies this early.

Although if you're talking about bitcoin's earliest adopters, beats me really. For the most part some of them have ludicrous amounts of bitcoin that they can't just cash out on a whim or it would cause panic buy on everyone below the ladder. So they time their buys, slow their transaction processes, and make moves that don't startle the market so as to not risk devaluing their cryptocurrencies.

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Quote from: Bushdark on November 25, 2023, 01:13:42 PM

Quote from: OgNasty on November 24, 2023, 01:35:46 PM

I’d say when looking at the blockchain a lot of early participants haven’t sold their coins because they likely lost the information to be able to access their coins. You hear about it all the time on the news. Then there’s the people who got into Bitcoin for the tech and not the money, and those folks often need their BTC for projects they may be working on.

Even though it might look like the earlier participants have sold their Bitcoin which I don't think so, we should learn the habit of holding and not selling just for little profits. We can make good profits from the market if we learn to hold for a long time.
There is better profits in holding and those that have the mentality of selling after the market had moved slowly from a particular price to another price within a small price difference, we should not know that we are not a good holder and profits will be less.

just think of what early holders felt when btc was just very cheap. of course, they won't think of holding it for years and years as they didn't know yet that this will become big in the future. so at that time, they would sell their stash if there's value in the market. i don't think everyone was already thinking that this currency has bright future. this is why the story of buying papa john's pizza for 10k btc was very famous. if hanyecz knew that btc will be worth thousands of dollars, do you really think he will spend it on buying pizza?

SatoPrincess

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I think many of them didn’t backup their private key and have lost access to their wallet. People were careless with wallet security back then, the value of bitcoin was not high so it wasn’t really a big deal to lose sleep over. Once in a while, we see a dormant address suddenly become active and moves coins out the wallet. Another reason would be death, the owner of the wallet may have died and did not make provisions for his family to inherit the bitcoins.

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