BITCOIN

Weather Man

Persistance Is A Bitch
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They have no idea how many actually exist, but they are worth $9,524, crazy.

Rumor of Satoshi sale hits Bitcoin
May 20, 2020 3:44 PM ET|About: Bitcoin USD (BTC-USD)|By: Stephen Alpher, SA News Editor


Cruising along with very volatility over about the past week, Bitcoin (BTC-USD) midday dropped about $400 in minutes after Whale Alert noted the transfer of 40 Bitcoin from a wallet that had been dormant since 2009.

The coins in the transaction were mined within the first month of Bitcoin's existence, says Whale Alert. It's possible the wallet was owned by Satoshi - the mysterious supposed creator of the crypto.

It could have been anyone, says Nic Carter, co-founder of Coin Metrics. Thousands may have been mining Bitcoin during that time.

Bitcoin has recovered a bit - currently down 1.2% to $9,524.
 

olympic

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I thought there were 21 million programed to be created, no more and no less can be created. Is that not correct?

Correct, the number of coins that exist are well known. But just like cash, Bitcoin can be "lost" if the owner loses access to his "wallet", or simply taken out of circulation if the owner never spends them. The 40 Bitcoins in the OP were always known to exist, it's just that no one had used them since they were created in 2009. I would bet there are tens of thousands of Bitcoins out there that are dormant because the owners have lost access to them through a computer crash, death, etc.
 

98SVTContour98

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Correct, the number of coins that exist are well known. But just like cash, Bitcoin can be "lost" if the owner loses access to his "wallet", or simply taken out of circulation if the owner never spends them. The 40 Bitcoins in the OP were always known to exist, it's just that no one had used them since they were created in 2009. I would bet there are tens of thousands of Bitcoins out there that are dormant because the owners have lost access to them through a computer crash, death, etc.

Ah ok...i understand...I do not care how many are lost (i know there are estimates out there)...just as long as there will only ever be 21million created....scarcity is key
 

quad

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Man accidentally threw away $127 million in bitcoin and officials won't allow a search

Man accidentally threw away a bitcoin fortune worth $108 million, says he's "pretty Zen"

When the price of bitcoin hit $10,000 on Wednesday, many in the cryptocurrency community celebrated the milestone. But for one man in Wales, bitcoin's boom has a taken on a very different significance.

James Howells, 32, made headlines in 2013 after it emerged he had accidentally thrown away a computer hard drive containing 7,500 bitcoins, worth around $4 million at the time. The hard drive now sits buried beneath trash in a landfill site near his home in Newport, Wales.

Following bitcoin's recent price surge, the contents of the IT specialist's missing hard drive are now worth $108 million at the time of writing, if other cryptocurrencies on the hard drive are also taken into account.

"I'm always aware of the bitcoin price," Howells told Newsweek. "I always knew this [the price rising] was going to happen.... In my opinion, bitcoin hasn't had its Facebook moment yet. Imagine the price when it does. That would make my hard drive worth $1 billion or more."

Howells first mined the bitcoins—a process of using computing power to confirm bitcoin transactions on bitcoin's public ledger, the blockchain, in order to generate new units of the currency—on a Dell laptop in February 2009. The following year, he disassembled the computer into parts and stored the hard drive in a drawer at his home. It remained there until 2013, when he mistakenly threw it into a general waste bin at his local landfill site.

More than four years of trash have since been dumped on top of the hard drive, meaning any salvage operation would be both costly and time-consuming. Despite making several requests to the local council, Howells has yet to be granted permission to look for the missing treasure.

"It's a case of convincing the local authorities and environmental agencies to permit me to search," Howells said. "As long as the price continues to rise, which due to the math involved I think it will, then my chances become greater and greater, because at some point the local council must give me a shot at searching because it will be valued so high."

It is estimated that around 2.78 million bitcoins have been lost since the cryptocurrency was created in 2009. At today's prices, that amounts to nearly $30 billion.

If Howells ever does retrieve the lost treasure, he says he would use the money to fund cryptocurrency start-ups, buy property and treat himself to a Lamborghini. He said he would offer the local council a "chunky reward" for their assistance in the search.

Howells is still active in the bitcoin space but these days focuses on an alternative cryptocurrency called Bitcoin Cash, which has experienced stratospheric price rises similar to bitcoin.

Despite casually misplacing a sum equivalent to the gross domestic product of a Pacific island nation, Howells said he remained "pretty Zen" about the whole matter. He said his greatest regret wasn't that he accidentally threw out the hard drive; it's that he stopped mining bitcoin in the cryptocurrency's early days—a decision forced upon him by his girlfriend at the time, who didn't like the whirring noise of the computers.

"I was one small decision away from walking out of my house with $10 billion in my back pocket—that's what I regret most, the fact I stopped mining when I knew how big this was going to be," Howells said.

"I have good days and bad days, but overall I'm good.... Anyway, no point crying about it."

james-howells.jpg
 

quad

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Any over/under bets on when he jumps off a bridge?
Lol. That's what the founder of Victoria Secret did!

Roy Raymond - Wikipedia

Career
Early career
Raymond worked in marketing for several companies early in his career, including Guild Wineries, Richardson-Merrell, and the Vicks company.[5][3] His greater aspiration was to start his own business.[3]

Victoria's Secret
On June 12, 1977,[2] Victoria's Secret was founded by Roy and Gaye Raymond[6] in Delaware.[7] Raymond opened the first Victoria's Secret store at the Stanford Shopping Center in Palo Alto, California.[8] Raymond was inspired to start Victoria's Secret after feeling embarrassed purchasing lingerie for his wife in a department store.[8][9] To open the store, he borrowed $40,000 from a bank and $40,000 from his family.[10] Roy and Gaye Raymond worked together to design and launch the first store with a Victorian-inspired style.[11][12] A reference to Queen Victoria, the name Victoria's Secret was meant to evoke the sophistication and propriety associated with Victorian era boudoirs while eluding to the ‘secret’ underneath the clothes.[13] The company earned $500,000 in its first year and Raymond started a mail order catalog and opened three stores in San Francisco.[10][8]

Leslie Wexner discovered Raymond's store in the early 1980s, described it as unique, and declared that he had never encountered anything like it in his travels.[14] Although Wexner was interested in purchasing Victoria's Secret, Raymond was initially wary of Wexner, who later stated "When I met him, it was as if he met the devil."[14] Six months later, Raymond contacted Wexner to discuss a potential sale.[14] In 1982, after five years of operation, Raymond sold the Victoria's Secret company for $1 million to Wexner, with its six stores and 42-page catalogue, then reported to be grossing $6 million per year.[10][15]

For approximately a year after the sale to Wexner, Raymond stayed on as president of Victoria's Secret while working towards the start of his next company, an upscale store for children called My Child's Destiny.[8][3] In 1984, Raymond personally invested $850,000 in the new venture.[10] The business catered to professional couples and sold computer games, imported dolls and expensive toys in a single store in San Francisco and through mail order catalogues. Business at the store suffered due to a poor location with limited walk in traffic and due to a limited marketing strategy which focused on the wealthy, lending to an image of being elitist.[8][16] In 1986, the company was forced to file for chapter 11 bankruptcy.[16] As Raymond had not incorporated the company, he was ultimately liable for the financial burden.[17] He and his wife lost their homes (in San Francisco and Lake Tahoe) as well as their vehicles.[17] He continued to generate business ideas and to work towards the launch of companies including a children's book store (Quinby's), a mail-order home-repair hardware business, and a company that produced wigs for those who had lost their hair due to cancer treatments.[17]

Raymond secured funding to launch Quinby's from Diane Disney Miller and Ron W. Miller but within two years he was bought out due to financial disputes.[3]

Personal Life
Raymond and his wife, Gaye, had two children together, a son and a daughter.[3] They divorced in 1990.[3] After his divorce, Raymond was reportedly in a relationship with Peggy Knight of Ross, California.[3]

Death
On August 26, 1993 Raymond ended his life by jumping off the Golden Gate Bridge. He was last seen alive walking toward the bridge, and shortly thereafter his body washed up on the shores of Marin County. Investigators concluded that he had jumped off the bridge.[10][18] Gaye Raymond stated that she believed he had suffered from depression following a series of business failures.[11]
 

98SVTContour98

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Bitecoin has one purpose...... Buying shit online discreetly! That's it! It's not an investment.

I've never heard of Bitecoin...but if you mean Bitcoin then, No.

More excited about my Amazon investments a few years ago over my Bitcoin investments a few years ago. :)

Timing is everything isn't it! I hope you still have your bitcoin tho...if so, you will be glad you did soon (next 18-24 months).
 

98SVTContour98

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reading all the lost coins stories are brutal! A lot of lessons we can learn from them.

BTW...Happy Bitcoin Pizza Day!!!! 2 large papa johns pizzas were bought on this day in 2010 for $30 (10,000 bitcoin)...10,000 bitcoin today is worth $91 million...just HODL

Historical Pizza Day values:

2010: $0.003
2011: $6
2012: $5
2013: $123
2014: $526
2015: $240
2016: $438
2017: $2,139
2018: $7,983
2019: $7,623
2020: $9,100
2021: $??,???
 

mysticsvt

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I've never heard of Bitecoin...but if you mean Bitcoin then, No.



Timing is everything isn't it! I hope you still have your bitcoin tho...if so, you will be glad you did soon (next 18-24 months).
Indeed, I bought it out of sheer curiosity and only bought what I could afford to lose. I have 80% in Bitcoin then some Ethereum, Litecoin, and Bitcoin Cash and Bitcoin SV.
 

quad

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More excited about my Amazon investments a few years ago over my Bitcoin investments a few years ago. :)
Amazon, Apple, Nvidia etc. were all great investments! How much increase did you see? I did not get any of those stocks but wish I had.
 

98SVTContour98

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Fidelity came out with a report that recommends 5% exposure to Bitcoin, the company Square just bought $50million worth of Bitcoin, the company Microstrategy just put their cash reserves into Bitcoin ($425million), Stone Ridge put $115million into Bitcoin, Paul Tudor Jones put 2% of his assets into Bitcoin this year, and Pay Pal just announced they will allow the buying/selling of crypto in 2021 and are also looking to buy the BitGo exchange.

#notaninvestment
#justafad
#onlinedrugsonly
 

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