An Early Bitcoin (BTC) Developer Wails Over his Loss

An Early Bitcoin (BTC) Developer Wails Over his Loss

Bitcoin Crypto News News
December 20, 2020 by Elias Powell
125
When the cryptocurrency industry was introduced, there were many individuals and computer geeks who became a part of it. But instead of taking it as a serious gig, their attitude towards the first-ever cryptocurrency was rather playful and non-serious. Now, the Bitcoin (BTC) is close to $24k per BTC but this was not the case

When the cryptocurrency industry was introduced, there were many individuals and computer geeks who became a part of it. But instead of taking it as a serious gig, their attitude towards the first-ever cryptocurrency was rather playful and non-serious.

Now, the Bitcoin (BTC) is close to $24k per BTC but this was not the case when the currency was first launched by Satoshi Nakamoto back in 2009. When Bitcoin (BTC) was first launched, the digital-currency was worth nothing. There was no interest or faith in the digital-currency so the people had no plans of keeping up with it.

However, with time, more cryptocurrencies started turning up and things started to look bright for Bitcoin (BTC). At the start, Bitcoin (BTC) blockchain was just like an ocean that was filled with fish waiting to be fished. There were indeed many people who managed to get their hands on thousands of Bitcoin (BTC) and sold them off as they did not see any future with them.

But now, the same people who sold their Bitcoin (BTC) when the asset was immature only regret making such a decision in the first place. MarttiMalmia.k.a Sirius also shared his story of how he ended up losing his enormous collection of Bitcoin (BTC) that he had under his possession back in 2009. Sirius is known as one of the earliest developers that worked on Bitcoin (BTC).

Malmi shared his experience and the loss of his Bitcoin (BTC) through Twitter with his followers. He told his followers that between 2009 and 2010, he had managed to mine 55,000 Bitcoin (BTC) from the blockchain. However, at that time, the price of Bitcoin (BTC) was close to nothing so keeping them would just be a waste of time.

The former Bitcoin (BTC) developer stated that he liquidated 5,050 BTC back in October 2009. He revealed that the money he received for selling that huge amount of BTC was just $5. Later on, he went onto introducing one of the first Bitcoin (BTC) exchanges and invested $30,000 BTC through the newly opened exchange. He stated that as there was no exchange rate established for Bitcoin (BTC), therefore, he ended up losing all the Bitcoin (BTC) for nothing.

Malmi tweeted that for the rest of the BTC he had under his possession, he planned to HODL them. However, things did not work out the way he had expected them to like the job that he was trying to get, took longer to be acquired. During this time, he had to sell the rest of the Bitcoin (BTC) he had available to make ends up. Malmi revealed that he sold the Bitcoin (BTC) for more or less $5 per BTC.

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