Bitcoin Forum

I Was reading through the comment box of an interesting tweet shared by Rizzo, about a man that sold 160btc at 0.003 per 1 about $0.48. Went further to read the reddit link shared below the tweet and discovered that it was our super admin Theymos.  According to him he was getting the BTC easily with his computer and felt that the 5 cent price per btc was way too expensive, so reduced his price to $0.003 per btc, which is, according to his response, the lowest price of btc sales ever recorded. This was interesting to many users that they couldn't help, but ask if such an amazing opportunity is still available. ;D However, the forum has made lots of history in the market regarding the opportunities it provided for the early birds, but i'm not sure he sold all the 160btc as he didn't mention it, he only said he sold at $0.003.

https://i.gyazo.com/0bea777b143716aec9048bc4c24194e5.png

https://i.gyazo.com/48b74417c84d179f63bb6f155e0d08c1.png


Reddit thread
https://www.reddit.com/r/Bitcoin/comments/su7jld/mining_250_bitcoin_with_1_computer_12_years_ago/

I am curious to know how the 48 cent payment went. I don't know about the USA/Canada, but in Europe at that time a transfer would have been more expensive in fees than the amount. Maybe he met in person to get paid? I don't know, some people won't even bend down to pick up a 50 cent coin.

Interesting but you can not prove it is a cheapest price for Bitcoin. You must to have something, other deals to compare.

The first successful trade with Bitcoin is Pizza for bitcoins? (https://bitcointalk.org/index.php?topic=137.0)
It equates to $41 in 2010 (https://www.marketwatch.com/story/bitcoin-pizza-day-laszlo-hanyecz-spent-3-8-billion-on-pizzas-in-the-summer-of-2010-using-the-novel-crypto-11621714395)

$41 for 10,000 BTC and 1 BTC was traded at $0.0041, 41 cents. It is a higher price than theymos' deal.

Someone also asked a similar question, saying what kind of bill made him to sell at such a price lol. Its considered legendary to make the decision as of a time when people knew nothing about bitcoin, the buyer or buyers may have sold higher, who knows, but it'll be lesser to what he/they would have made in 2021 if they/he held. Yet it's obvious that sellers are making it to mainstream, and top influential pages on social media often share such contents. Hence, always amazing to read how people sold bitcoin in lesser prices. And that won't stop, even in future the price we sell now would be considered legendary, and stunning to readers. Well, who could tell how the transaction was executed. If he sold to different people, or a person bought the whole 160btc. The first named would be considered a giveaway.

Well, if you look at it, despite selling at that price, theymos has continued to accumulate more over time. Just by seeing that the forum no longer takes advertising because it is sitting on so many bitcoins that it doesn't need it, we realise that selling at a cheap price is not the end.

There were many others who sold for a small profit and did not accumulate more. Or people who bought bitcoin, sold at a loss when MtGox or others went down and never bought again.

One lesson we should take from this is that no matter how much you sell for, it is always a good time to accumulate more.

Of course, of course he was able to mine multiple bitcoin using his computer, so it was never considered a mistake, instead it's seen as generosity; passing along the bitcoin to the next person, a way of helping the network.


Maybe you didn't read the link I shared, I didn't share the screenshot of his post where he stated his accumulation, here we go.

https://i.gyazo.com/a7d53e4d2fbb2671ca8bb8c455bcc115.png

I did. When I talk about a lesson, I say this because on the one hand we have theymos who kept accumulating more, and on the other hand the people who sold after a 3x or even at a loss in the face of a market decline and never accumulated again. Which is the better option?

Poor Theymos. I bet he might be regreting that, knowing todays price. ;D

But then again almost all of us regrets not buying BTC sooner.

But its a good thing it happened, if was an important step for Bitcoin adoption and thanks to that ongoing adoption, Bitcoin is worth over 23 thousand dollars by today. Who would have guessed back then that this would become so revolutionary for the evolution of our monetary system.

Bitcoin is definitely one of the few things I love about our modern age. Still waiting on the technology of flying personal vehicles for everyone but we will get there.... Im sure.

Even Theymos sold his bitcoins at the time, which means no one knows what the future holds, what bitcoin has achieved today is truly amazing. It's funny when many people say that if they had known about bitcoin earlier, they would have invested and kept it till now.

Yea — we all know a huge percentage of those people will immediately sell once a drop or some FUD occurs lol. Even I myself wouldn't probably be convinced about Bitcoin's future potential without all those content from the likes of Andreas Antonopoulos to convince me.

That is not the lowest price ever recorded. Wasn't the lowest price the first tx satoshi ever sent? (Free?)

But seriously, nice to know that someone at some point thought Bitcoin's value was way over the top and too easy to mine that it didnt deserve the price it was supposedly sold.

Lowest P2P sell ever recorded, that's a new piece of history I didn't know about :)

That is pure wishful thinking and nothing more, most likely the only ones which still retain some of the coins they bought or mined on the early days are super strong hands and those which at some point lost access to their coins and then they recover them somehow.

So it is pure fantasy to think that one of those people wishing to have heard of bitcoin on the early days will still have their coins, as those coins could have been stolen, lost, spent or gambled away.

If the buyer is holding the bitcoins till day, he must have retired.

At that time bitcoin was in early stage so I do not think he did any mistake by selling at that price. In fact, by doing such transactions, he encouraged other bitcoin users also to use bitcoin for transactions giving it an use case. After so many years, it has evolved and now we see millions of people transacting using bitcoin. This will only grow from here onwards. So, that first transaction was a good initiative that fueled the further growth and adoption of bitcoin.

People who have been selling their bitcoins since their inception must have regretted why they sold their bitcoin at that time rather than just holding it on their computers until the price went up as high as the last ATH. But I'm not sure if @theymos sold all his bitcoins ;D

Sometimes we really want to repeat the past to get something like this bitcoin story. But that is the past that has happened and we can't go back to that time. Perhaps many of us have heard of bitcoin in the past and did not pay much attention to finding out more. And only now do we regret it.

Kind of funny TBH, but even those early adopters at that time didn't know what is the future of Bitcoin thus, they sold some of them for sure.

I would not hold it either if I'm one of the early adopters of that time of Bitcoin. Bitcoin at it's early stage is almost the same as any other new projects today. No one can trust it at all, if they see the coin pumped, they will sold it immediately and they have no guts to hold it for a very long time. Even theymos can't hold it at that time thus, he sold it as well. :D

It's good that there are some educational videos from Youtube right now, and documentaries online that can convince and attract people towards investing in Cryptocurrency. In that way, more people will buy it. Those who trusted it at that time and still holding until now (or at least sold at it's peak or near to it) are the ones who profited the most, and the ones who sold it earlier are probably regretting just a little bit with their decisions.

And what about Martti Malmi who sold 5050 BTC for only $5.02 back in 2009? It was also the first official transaction when it comes to conversion from BTC to fiat. I don't see that it was a big problem then, because everyone could mine BTC with their personal computer and mine a few thousand BTC every day without any trouble.

Source (https://cryptopotato.com/13-years-ago-5000-btc-sold-for-only-5/)

I don't think they at all need the money, $0.48 is not something that could help actually but I think Theymos and Martti were just testing the market on how a decentralized market works. What would he do to the $5 when he could have asked from a friend and there is no need to sell anything.
But since these happened I guess it's good trivia to tell like Lazlo's which we now in the Bitcoin community celebrate Pizza day.

Somehow I doubt that he regrets that sale. If anything, he should be happy that he was around so early as by now he probably has a decent stash.


I don't think that early adopters sold solely because they didn't have guts to hold it longer, and i think that some sold it to prove it that bitcoin is the real money. In one interview that I read, Laszlo Hanycez named that as a main reason why he offered 10,000 bitcoin for pizza, as he thought that if he can buy food with it and live off it must be the real money.

I'd be curious to hear his opinion on that sale now. Maybe Theymos will find a moment to say a few words?

Now events such as selling 160btc for $0.48 or a couple of pizzas for 10.000BTC seem highly unreasonable due to the current rate of bitcoin. It seems like a lot of wealth has been lost, but in fact, it is not. Don't forget that btc was obtained with less difficulty, as it is possible now, and therefore corresponds to the sale price.

All these events have made a significant contribution to the rise of bitcoin to fame and have played an important role in history of this. This is priceless. You don't have to measure them in terms of money. 160btc at $0.003 per 1 or pizza for bitcoin. Their influence can't be measured in dollars, even with many zeros.

Aww man that is one for the history books, and have one of the pillars of this forum be the star of it too makes me feel some pride inside lmao in any case, I don't think Theymos made the wrong decision with selling 160 btc at the time. As he said, he believed it was overpriced from the pricepoint it was sitting at back then and had the right and justifiable idea to sell those bitcoins. For all we know bitcoin could've went south and he may have won big from that profit. I'm getting off to a tangent here but the point I'm trying to make is that to someone living in let's say 2009-2010, bitcoin is nothing like the bitcoin we are seeing and investing in now. To the people back then it was nothing, not worth more than the lint in your pocket, and basically just another penny stock you can invest in.

Whether it's for Theymos or any other person, no one can tell his future. If Theymos knew the future of bitcoin, would he have sold 160 bitcoins for only $0.003 per bitcoin! Moreover, he could buy maximum 3 apples at that time for only $0.48. I will compare Theymos selling 160 bitcoins for $0.48 to buying a second pizza.

Laszlo Hanycez sold 10000 BTC for a pizza
Theymos sold 160 BTC for 1/4 pizza 🍕

Yeah, we don't have the magic to predict the future. If that is available we'll be the rulers. Some kept hold by situation and for some reason. Here Theymos could've got some reason for selling. Maybe if he's supposed to sell, he should've forgotten his private key or something likewise could've happened. Because majority of the early holders funds were of just left back and remembered after years.

The thing is the Bitcoin wasn't sold but given  ;D


Now I feel ok, lol.  Knowing theymos sold 160 Bitcoin at a way lower price when I did sell my stash consoled me.  Anyway, this is really an interesting fact  I wonder how theymos feels about selling his BTC at that price.


The majority of the earlier holder does not care much about Bitcoin, I even read a story here (can't find the link) that they happen to make Bitcoin gift money to their office.  They pass it to each other as if it was nothing since the price of Bitcoin that year wasn't that worth keeping.

All of these stories about the Laszlo's, Martti Malmi's, and all the people who bought things with a lot of BTC, or converted a lot of BTC for a small amount of fiat are all part of BTC's history, they are the people who helped to promote BTC when it was just newly created, there should be no regret about what they did just because BTC's price is now were it is today, if those people probably didn't do what they did, maybe BTC would not be what it is today.

What about Gavin Andresen who gave out free BTC to people, reading all these stories about these Legends gives chills and it could even make one hooked into BTC, history is very important, and all of these contributed to BTC's history, so people should not think they regret what they did, or make it a sad story, because it isn't, it is history, BTC's history to enjoy.

Most of us would have sold at that time when they were mining bitcoin and thought it to be worth just 0.05 USD and it went to $30, which happened pretty fast in 2011 so just over a year since Theymos sold his coins.

That's a 600x rise in price. Something that would mean 12 million USD bitcoin in a year if we took this year as base.

Imagine investing 20 000 today and seeing it worth 12 million next year. You'd be selling everything. I sure would be, so I don't blame anyone who sold at that time.

It is so amazing how time flies like a better fly. Everyone made this this kind of mistakes of selling low at a particular time. I don't think right now Theymos ever regretted his actions because is part of the remarkable things we have to keep to ourselves of making a mistakes that can make us smile at times.

 In 100 years coming, I am sure that many people would look back and remember that Bitcoin once fell in price to $22k and they forgot to accumulate it. The price of Bitcoin keep increasing and falling everyday with a direction to the top. let's keep watching what the price of Bitcoin would be in few years now.

There's no need to; there is a huge difference on the situation before regarding this technology's potential, in comparison with what we have witnessed and the impression it is now having into us. Ofcourse we saw its ATH which will give us the idea such as "i regret not buying before" "i regret selling early" and such.Without being aware that you did not and did those things because of a reason at that particular time. There is never as assurance with this industry even up until this point then, it is normal for people to still doubt. It is easy to say things such as 'buy low sell high' but once you are in that position things are way different.

Wow!  Its Crazy !!  I can hardly imagine how much BTC would cost if it were selling at the current price.  But if we talk about realistic things, of course we can't talk about the current price at the current price because no one can predict the price of BTC will rise this high.  Imagine if you sold at least 160 of BTC at a price of $ 1000 around 2015-2017

I've seen someone post a similar post on Facebook around 3 days ago... It also contains another message from theymos.
After a few minutes of looking for the post, here it is: Facebook (https://facebook.com/photo/?fbid=227455446343773&set=a.213967497692568).

I'm sure he has no regrets about that. After all, from that time, nobody knows that bitcoin can even reach a thousand dollars or transcend $60k.

It's not about whether someone needed money or sold BTC because they were curious or maybe wanted to be recorded as someone who wanted to go down in history, but about the fact that the OP is wrong when he claims that this is the lowest price at which someone sold Bitcoin. In my previous post, I wrote that back in 2009, Martti Malmi sold as much as 5050 BTC for only $5.02, which means that the price of 1 BTC was only $0.00099.

I don't know how such low deal can be made, to be honest it's only quite low if one doesn't sell it face to face.
Anyway, I never know if 13 years ago there was an exchange that actually handled buying and selling transactions, but maybe there wasn't. But during that time bitcoin also seemed to be useful for some things like games or something like what I've read in the media.

Well in the end those 160 bitcoin have been worth $11M as of Nov 2021. I hope he never regrets it at all like when someone buys pizza with thousands of bitcoin.

And he gets less than $0.5 for that sale... That's just epic. And as I always say, in this crypto world to look back isn't an option because we will find a road full of regrets. Our only option is to learn the different lessons and keep moving on.

That should go to the records guinness, as we know the Guinness World Records adds BTC to the last edition, so, this sell deserves a spot in that book.

That is really amazing fact to see and read about. Wow I did not know peeps were so much excited about bitcoin at the beginning. You can clearly see the enthusiasm from the Reddit thread and also suggested thread after you open it. All of them mesmerise the beginning of time where everyone was curious about the new technology, it’s mining on the pentium machine and much more.

This was the excitement which made bitcoin what it is today.

Sadly, no one talks about it with the same curiosity. Now a days it’s all about how high it can go.


This does not matter because OP clearly stated that theymos’ lowest “price rate” transaction. Not the volume to be precise.

theymos is a huge part of the history of bitcoin & bitcointalk.org
He is not the first & he will not be the last to sell (in hindsight) a lot of coin for a low price. Both you & me will think the same about our sells right now, when the price hits $10,000,000 or something in the long term future.

As far as I know theymos is still very deep down the rabbit hole so don’t worry too much about how much bitcoin he may or may not have now.

And don't forget the two pizza deals for 10,000 bitcoins. In start, nobody knew that bitcoin will even cross 1$ that's why we have such cases where bitcoin is sold in few cents.
These are really interesting part of bitcoin history that how low bitcoin was in his early days. Its because every new technology is not welcomed in the start. It takes some times before the every new technology gets recognition.

Exactly. If not for these people seeing profit or at usage for bitcoin in a time when people don't even consider digital payments is just something, even if they did all these as a joke, bitcoin wouldn't be where it was right now. I don't think Theymos would have any regrets/qualms about selling that much bitcoin in a time when it's cheaper than the newspaper. It's only fair, bitcoin has to have its own colorful history that led it to here otherwise it would look like a sham or a laundering project. In any case, I find fun and excitement for the future, 10+ years ago this was bitcoin, a decade or so from now, what would bitcoin become? How high will it get? What would the public's disposition towards it gonna be? Just a lot of exciting implications.

Can you clarify in which block this transaction took place?

Why does he need to do that? And how is that relevant to what is being discussed here? He is not trying to prove a point or make a statement, it's just a generic post about old times when Bitcoin used to be worth pennies and there wasn't a need for anyone to provide the block where that transaction took place or show a receipt of the amount received by theymos for selling 160 Bitcoins.  ::)

Besides, this topic has been inactive for about a year, you didn't need to necro-bump it only to ask a question that isn't even relevant or make any sense based on the discussion. Please try to participate in threads and discussions that are currently active and haven't been inactive for so long.

Exactly! Alot of people had the opportunity to own so many Bitcoins from its early days but, they took everything they saw/heard for granted. I didn't know about Bitcoin until 2016; eitherways, I never knew pretty much anything else apart from the preferred collective name, "crypto"
how in the holy crap was that supposed to be enough for 5050 Bitcoins? Dude had atleast 1.5% out of the 21 million Bitcoins, with which only a million is left unmined. I'm sure that he'll be regretting all his life for letting out a billion dollar asset for some few bucks!

On the other hand, I guess Theymos didn't just wanna put himself in some historical recordings of all times... Maybe he just wanted to try out the p2p network?

thank you for your help, I’m not interested in evidence, I’m interested in specific data, if you don’t have it, maybe someone will have it, I need this data for analysis, I’m collecting data on first sales and movements https://bitcointalk.org/index.php?topic=5495812.msg64051065#msg64051065 (https://bitcointalk.org/index.php?topic=5495812.msg64051065#msg64051065) , for which I described in the post, thanks to everyone who responded..