Post
Topic
Board Bitcoin Discussion
Re: If you spent $500-$1000 on bitcoin in 2009-2010
by
hatshepsut93
on 04/02/2024, 23:01:22 UTC
no one else would bother to mine them then, you'd own all the rest of the bitcoins besides Satoshi's who disappears in 2010 and then you disappear in 2011 with your 5 million, no one remembers what bitcoin is and you'd have a net worth of 0! yay

People would always mine BTC as long as it's profitable enough to cover the electricity costs and some of the equipment costs, which is a pretty low margin. But having 5M early coins on top of Satoshi's coins concentrated in the hands of a single individual would be pretty toxic, everyone would be afraid of a huge crash when this individual would start selling and the addresses would be closely monitored. But if the coins aren't moved for a decade, people would start assuming those coins as lost.