Early Bitcoin dev misses out on $1.3B after selling too soon
"I'd be a billionaire now if I hadn't sold the 55,000 bitcoins I mined on my laptop in 2009-2010 way too early." Martti Malmi, one of the earliest Bitcoin developers and also known as Sirius, has explained what happened to his once massive crypto holdings since 2009. According to a Friday Twitter thread from the former Bitcoin (BTC) developer, Malmi mined roughly 55,000 coins between 2009 and 2010 when the price was almost zero. Malmi said that he ended up liquidating 5,050 BTC for $5 in October 2009, and losing 30,000 BTC through one of the first Bitcoin exchanges he ran when “there was....
Related News
The legal battle between the US Securities and Exchange Commission (SEC) and Ripple XRP is getting tougher. The watchdog has been hunting crypto assets and firms tagged to deal with unregistered securities. While using enforcement action, SEC stated that XRP is a security and must be registered. It faulted Ripple for selling the token to […]
“There is not really going to be a blockchain team any longer,” said a source.
Rand Paul thinks it would be a good idea to back Bitcoin with stocks or other assets. The idea of "backing" Bitcoin with some kind of tangible commodity or asset is back in the news again due to a recent statement from Senator Rand Paul. The Senator from Kentucky stated that he'd like to see Bitcoin backed by a basket of stocks because he believes that a currency should be "backed up by [something tangible]". While the idea of combining gold and Bitcoin has already been floated by Jim Rickards and others, it completely misses the point of what Bitcoin is supposed to be. Bitcoin is the....
CNBC Portraying BTC As A Store Of Value Isn't Pessimistic As It Outlines The Electronic Cash's Path To Full Monetization.
Data shows Bitcoin miners have eased up their dumping over the past month, now selling only at a 50% rate compared to in early September. Bitcoin Miner Net Position Change Now Has A Value Of 4.4k BTC Per Month As per the latest weekly report from Glassnode, the BTC miners were selling at a rate […]