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Author Topic: Daniel Mross paid 2700 BTC to ButterflyLabs in 2012 for 25 Gh/s  (Read 6872 times)
Rubberduckie
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January 06, 2016, 11:55:45 PM
 #21

they need a follow up on this guy. Does anyone know of any
interviews or anything showing how much he made / lost doing
this?

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Erkallys
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January 07, 2016, 01:48:00 PM
 #22

There's the 10,000 BTC pizza. And a few old timers in these forums have mined 50 BTC blocks a few times per day on CPUs. There's that Swedish? guy who mined 5000 BTC and bought an apartment a few years later.

And there's that guy who threw away his hard drive with a few thousand BTC in it.

I think this is basically what happened to most people's money back then:

https://www.youtube.com/watch?v=-DT7bX-B1Mg



If I remember well, the Swedish guy bought 18€ worth of Bitcoin in Swedish Crown and then bought a flat in the rich district of Stockholm.
madwica
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January 08, 2016, 09:37:36 AM
 #23

There's the 10,000 BTC pizza. And a few old timers in these forums have mined 50 BTC blocks a few times per day on CPUs. There's that Swedish? guy who mined 5000 BTC and bought an apartment a few years later.

And there's that guy who threw away his hard drive with a few thousand BTC in it.

I think this is basically what happened to most people's money back then:

https://www.youtube.com/watch?v=-DT7bX-B1Mg



If I remember well, the Swedish guy bought 18€ worth of Bitcoin in Swedish Crown and then bought a flat in the rich district of Stockholm.

I think that guy is from Norway.
Betwrong
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January 08, 2016, 11:01:13 AM
 #24

There's the 10,000 BTC pizza. And a few old timers in these forums have mined 50 BTC blocks a few times per day on CPUs. There's that Swedish? guy who mined 5000 BTC and bought an apartment a few years later.

And there's that guy who threw away his hard drive with a few thousand BTC in it.

I think this is basically what happened to most people's money back then:

https://www.youtube.com/watch?v=-DT7bX-B1Mg



If I remember well, the Swedish guy bought 18€ worth of Bitcoin in Swedish Crown and then bought a flat in the rich district of Stockholm.

I think that guy is from Norway.

Yes, the guy is from Norway. He invested 150 kroner ($26.60) in 5,000 bitcoins in 2009, sold them in 2013 for $886,000 and bought an apartment in a wealthy area of Oslo.

Here's the article about it:

http://www.theguardian.com/technology/2015/dec/09/bitcoin-forgotten-currency-norway-oslo-home


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Erkallys
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January 08, 2016, 09:15:46 PM
 #25

There's the 10,000 BTC pizza. And a few old timers in these forums have mined 50 BTC blocks a few times per day on CPUs. There's that Swedish? guy who mined 5000 BTC and bought an apartment a few years later.

And there's that guy who threw away his hard drive with a few thousand BTC in it.

I think this is basically what happened to most people's money back then:

https://www.youtube.com/watch?v=-DT7bX-B1Mg



If I remember well, the Swedish guy bought 18€ worth of Bitcoin in Swedish Crown and then bought a flat in the rich district of Stockholm.

I think that guy is from Norway.

Yes, the guy is from Norway. He invested 150 kroner ($26.60) in 5,000 bitcoins in 2009, sold them in 2013 for $886,000 and bought an apartment in a wealthy area of Oslo.

Here's the article about it:

http://www.theguardian.com/technology/2015/dec/09/bitcoin-forgotten-currency-norway-oslo-home



Yes, you're right, he's from Norway. Except for the country and thus the city where he does come from, I was right on my story Wink.
timk225
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January 09, 2016, 03:34:19 AM
 #26

I told you all years ago that BFL had the miners.  They used your pre-order money to build them and mine with them, then when the difficulty rose enough to make them non-profitable, they shipped them to the customers.  Then they greased you up with another load of BS about newer bigger better faster miners and pre-order now, and you all did it again!

But ooohhhh nnnooo, no one listened to me.....  And I was right. Tongue
timk225
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January 09, 2016, 02:44:14 PM
 #27

I went on FrostWire and downloaded this Rise and Rise of Bitcoin movie (what, did you think I was going to pay for it?!?!?!  )and it's on my second monitor playing now.  It's ok, but I've learned the history of bitcoin on my own, so it's not telling me much I don't already know.
Sitarow
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January 09, 2016, 07:24:25 PM
 #28

I got into bitcoin mining in 2011 as a way to earn a free 6970 GPU. I used the profit from those coins to buy 4 5970s and subsequently sold thousands of bitcoins for around $2 and an insubstantial profit. It was fun and also necessary for the growth of the currency.

If people weren't spending their bitcoins when they were worth pennies, the currency would have died off and we wouldn't be where we are today.

I agree. Some of us spent considerably more then that amount in btc that would look foolish at today's prices.
Much like gold and silver in the late 1800's.
smracer
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January 10, 2016, 06:36:07 PM
 #29

I wish I would have given BFL only 2700BTC.  Sad

1smracer15yDLhJG27fd7GV3tegcNjtg2
icem3lter
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January 11, 2016, 12:14:02 AM
 #30

Daniel Mross is probably the pizza Guy's brother.
They make such ingenious decisions  Grin

But still this is nothing compared to the pizza guys loss.

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January 12, 2016, 01:37:45 PM
 #31

Lots and lots of people spend 1000's of bitcoins to buy small things before 2013, I guess. So it's not a surprise for them now.
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January 15, 2016, 07:34:48 AM
 #32

The prices are bound to rise; may be tommorrow or in near future. Rise in currency price would encourage more and more people to get involved with bitcoin community which could also help in broadening the reach of bitcoin. Investments from our predecessors helped it to evolve into something we've embraced and our investment and effort will shape its value for future bitcoin enthusiasts.
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January 15, 2016, 08:24:26 AM
 #33

The prices are bound to rise; may be tommorrow or in near future. Rise in currency price would encourage more and more people to get involved with bitcoin community which could also help in broadening the reach of bitcoin. Investments from our predecessors helped it to evolve into something we've embraced and our investment and effort will shape its value for future bitcoin enthusiasts.


Look at price now... it's actually dropping were around 400.  So dipped from 440... to 420's... and no took a even worse dip to 400ish.

So nothing is certain in this BTC game.  It is part of what makes it fun and part of what makes it so interesting.  But sucks when it goes down that is for sure.
0bit
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January 18, 2016, 02:21:48 AM
 #34

Interesting documentary. And sheesh! What a giant waste of money! To ButterflyLabs to, to add insult to inury.
madwica
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January 21, 2016, 10:03:28 AM
 #35

The prices are bound to rise; may be tommorrow or in near future. Rise in currency price would encourage more and more people to get involved with bitcoin community which could also help in broadening the reach of bitcoin. Investments from our predecessors helped it to evolve into something we've embraced and our investment and effort will shape its value for future bitcoin enthusiasts.

The price will not rise too soon. I do not see any catalyst for the immediate price rise. It is difficult to predict any way.
virtualdn
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January 23, 2016, 11:59:11 AM
 #36

You can't value Bitcoin like it a few years ago. Now it worths much more. Now you spend 1 BTC for something but in 5 years you probably won't because it will mean a lot of money. So I don't really think those guys did something wrong spending so many coins at once.

your link here
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January 24, 2016, 06:47:11 AM
 #37

You can't value Bitcoin like it a few years ago. Now it worths much more. Now you spend 1 BTC for something but in 5 years you probably won't because it will mean a lot of money. So I don't really think those guys did something wrong spending so many coins at once.

Trusting BFL was a mistake, granted there was no way to know this back then.  But anyone with BFL pretty much lost that is almost 100 percent.  Delay's and lies just made them a bad bet.

And it is true he did not do it wrong.  He just made a bad investment.   We can see that now but again back then hard to see.  Easy to arm chair quarterback it at this point.   

But one who held that instead of spending now would be worth quite a bit to say the least.
paradoxum
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January 25, 2016, 10:21:04 AM
 #38

So very few hardware manufacturers in the Bitcoin ever delivered more wealth to their clients despite making grandiose claims.  BFL was probably the biggest loudmouth of them all.
RoseMann
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February 02, 2016, 09:09:41 PM
 #39

So very few hardware manufacturers in the Bitcoin ever delivered more wealth to their clients despite making grandiose claims.  BFL was probably the biggest loudmouth of them all.

The only mass production hardware manufacturers are Bitmain, Avalon, KNC and BitFury. Bitmain is the best.

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February 03, 2016, 09:15:16 AM
 #40

So very few hardware manufacturers in the Bitcoin ever delivered more wealth to their clients despite making grandiose claims.  BFL was probably the biggest loudmouth of them all.

The only mass production hardware manufacturers are Bitmain, Avalon, KNC and BitFury. Bitmain is the best.

I think he/she was referring to past manufacturers (see title of thread). It seems even in the 4 you listed the opinions have swayed very far.  Avalon was loved until Yifu cheated everybody.  KNC was loved after their first/second batch and then went to hated.














 

 

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