Post
Topic
Board Bitcoin Discussion
Re: If you spent $500-$1000 on bitcoin in 2009-2010
by
Mrbluntzy
on 04/02/2024, 23:29:59 UTC
Let's say you were the 2nd person to mine bitcoins besides Satoshi himself. Every time someone else mined bitcoins besides you and Satoshi you bought them. The going rate back in 2009 to January 2010 was $1 for 1400 so let's say you bought every bitcoin besides your own mined and Satoshi's from January 3rd 2009 ( the first mined bitcoin by Satoshi ) to February 2010 and then kept buying for the few months every time someone mined bitcoins you asked if you could buy them. Then when Laszlo did the pizza deal, you would've bought him a lot of pizzas, then when SmokeTooMuch tried to sell 10,000 for $50 and another guy tried to sell 22,000 bitcoins for like $70-$80 you would've bought that... basically every time it came available. You'd probably have about $500-$1000 into bitcoin by now... and you'd own like 5 million bitcoins... 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

If I assume that this scenario which you have expressed is real and that you have disappeared with 5 million Bitcoin, it will not affect Bitcoin network in any negative way but it can even cause the price to surge high. Another thing which I think is that you would have sold off those Bitcoin when you saw the price surge above $1000,  I don't agree that you would have been patient to hold up till today.