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Author Topic: Software Engineer Buys 20,000 BTC in 2010, Quits Job to Travel Around Globe  (Read 2082 times)
Kimi80
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July 11, 2017, 10:59:39 PM
 #21

It really is a great story. I don't know if it is fake or not but can happened, why not. It is very rare to hear about story like this, not much people made this kind of financial achievement. This man believed in it and that other guy bought pizza for, how much? 10000 bitcoins?... I also think that it is pretty big amount to invest in something that is unknown. I am sure that he did lot of research but I don't know... 3000$ is big amount, pretty optimistic investment but he 'bet' hard and he won. Good for him Smiley
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July 12, 2017, 02:08:39 AM
Last edit: July 13, 2017, 02:04:47 AM by Omega Weapon
 #22

Just keep on stacking BTC and in the long term history will be on our side and we will be rich.
Yes but sadly we will never be able to stack up to 20,000 even 20 BTC is a dream for me. But who knows maybe in a few decades 1 BTC will be worth as much as 20,000 BTC is worth today.  
He took a gamble and it paid off, if you really want to live that kind of life then you need to take risks like the one he did, gather the most money you can afford to invest and that does not put your financial future at risk and then invest it in an altcoin with potential, if successful, that could be you in a few years, it is not easy to take such a risk but if you really want to live that life you are going to have to take a decision and follow it through.
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July 12, 2017, 02:26:20 AM
 #23

Another fake story.

To buy Bitcoin in 2010 you must to be an oracle, a choosen one , a son of a God..There was no info available about BTC till 2013.

But nice try...I like this story about unnamed billionars and crypto early adopters.  Roll Eyes

It's not a fake story at all, there are people on this forum who became millionaires through bitcoin e.g. reptilia, Elwar etc

I know, right? Just because the guy above only found out about Bitcoin in 2013 doesn't mean everyone else is the same. An old friend of mine bought close to 10,000 Bitcoins for just $1 each back in 2011. Needless to say, people who heard about it back and and took the leap of faith are sitting pretty right about now.
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July 12, 2017, 03:04:59 AM
 #24

The recent meteoric rise of Bitcoin and other cryptocurrencies has led to the appearance of some unlikely millionaires.  A recent interview by Forbes magazine shows just how powerful Bitcoin has been over the course of the past decade for those who invested early.

The interviewee, a former software engineer in Silicon Valley, asked to remain nameless. However, he did explain that he started purchasing Bitcoin in 2010 after doing some research. He decided that the purchase should be sizable enough to provide some real upside, should Bitcoin ever increase in value, and so he bought $3,000 worth, or, at the time, 20,000.

When the Bitcoin price really started to jump, he made his first sale of 1,000 Bitcoin, netting him $2.6 mln. Since then, he’s quit his day job and now travels the world, flying first class and staying only in five-star resorts.

After explaining his multiple sell-offs, and the $25 mln in profits he’s realized thus far, he explained that he sees Bitcoin values at $150,000 in the long term. “I really do think it will get there,” he says confidently, "But a lot of governments and companies will have to be on board, first. No amount of speculation in the world will push it that high.”
Well, Everyone dreaming about that.
This is another successfull story.

With seeing this our motivation will increase.
But he sure is patient and of course a genius, not to boot.
He knew that bitcoin have a really great potential in the future.
And he proved it.
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July 12, 2017, 03:13:14 AM
 #25

he didn't spend 3k for 20,000 BTC in 2010 that is far too overpriced - maybe 20 bucks, but not that much.

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July 12, 2017, 04:12:11 AM
 #26

Another fake story.

To buy Bitcoin in 2010 you must to be an oracle, a choosen one , a son of a God..There was no info available about BTC till 2013.

But nice try...I like this story about unnamed billionars and crypto early adopters.  Roll Eyes

I'm been here since 2011. This forum was quite busy already, and there was already a pretty large bitcoin community when I discovered it.

And there was tons of info, including mainstream media stories, in 2011.
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July 12, 2017, 05:44:41 AM
 #27

Very smart in buying Bitcoin early, not that smart cashing some out and quitting the job so early Cheesy Just my opinion tho...

Life is made for living. He has more than 20 millions dollars in the bank, no way I would be working if I had that.

Besides, as a software engineer he can always find work in the future if the need arises.
eXpl0sive
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July 12, 2017, 05:49:16 AM
 #28

There is no way to verify this story.

Unless, of course, the so-called millionaire signs a message from a 1000 BTC address saying that he is the one sighted in the article.

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Kakmakr
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July 12, 2017, 06:02:30 AM
 #29

There is no way to verify this story.

Unless, of course, the so-called millionaire signs a message from a 1000 BTC address saying that he is the one sighted in the article.


What will that accomplish? Anyone with 1000 coins can sign a message saying that they are the guy in this story. I will never do that, because this will compromise my identity and that address will be scrutinized by everyone. I would also not store all those bitcoins in one address. I will have split the coins over several addresses to make it easier to sweep coins from paper wallets < cold storage > to online wallets or hardware wallets. < It is just more practical and secure >

If by some miracle people figure out your private key for 1 address, then you lose all your coins in one go. ^stupid^

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eXpl0sive
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July 12, 2017, 06:08:52 AM
 #30

There is no way to verify this story.

Unless, of course, the so-called millionaire signs a message from a 1000 BTC address saying that he is the one sighted in the article.


What will that accomplish? Anyone with 1000 coins can sign a message saying that they are the guy in this story. I will never do that, because this will compromise my identity and that address will be scrutinized by everyone. I would also not store all those bitcoins in one address. I will have split the coins over several addresses to make it easier to sweep coins from paper wallets < cold storage > to online wallets or hardware wallets. < It is just more practical and secure >

If by some miracle people figure out your private key for 1 address, then you lose all your coins in one go. ^stupid^

You make a good point that anyone having 1000 BTC can sign a message and there is no way we can verify if that's the same person.

Regarding compromised identity: my understanding is that someone who has 20,000 BTC would be wise enough to sign a message in such a way that he can't be doxed.

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July 12, 2017, 06:11:28 AM
 #31

I just wonder how it became possible for him to foresee the future. I read somewhere in 2009 and in 2010 the miners put bitcoins for sale in ebay but no one was ready to grab them. When trend was like that, if someone decided to grab 20k bitcoins in 2010 must be a genius who got capabilities to foresee what is going to happen.

I mean to say he must deserved the wealth he could get from his bitcoins. Buying some bitcoins in 2010 is not a big deal but holding them till date must be differentiating such people from rest.
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July 12, 2017, 06:16:15 AM
 #32

I wish i could have be in his position but i am sure am not having enough courage to buy bitcoin now and wait till his speculation comes true 1,50,000$ . But the time he started i dint even dream about bitcoin even  i dint heard about the world crypto currency. In my understanding its all about meeting right things or right people in life make lots of difference.
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July 12, 2017, 06:16:57 AM
 #33

The recent meteoric rise of Bitcoin and other cryptocurrencies has led to the appearance of some unlikely millionaires.  A recent interview by Forbes magazine shows just how powerful Bitcoin has been over the course of the past decade for those who invested early.

The interviewee, a former software engineer in Silicon Valley, asked to remain nameless. However, he did explain that he started purchasing Bitcoin in 2010 after doing some research. He decided that the purchase should be sizable enough to provide some real upside, should Bitcoin ever increase in value, and so he bought $3,000 worth, or, at the time, 20,000.

When the Bitcoin price really started to jump, he made his first sale of 1,000 Bitcoin, netting him $2.6 mln. Since then, he’s quit his day job and now travels the world, flying first class and staying only in five-star resorts.

After explaining his multiple sell-offs, and the $25 mln in profits he’s realized thus far, he explained that he sees Bitcoin values at $150,000 in the long term. “I really do think it will get there,” he says confidently, "But a lot of governments and companies will have to be on board, first. No amount of speculation in the world will push it that high.”
If only we had known about bitcoin when it is still just starting, we might also end up the same with that software engineer. We all are wishing that we could go back in time and invest in bitcoin so that we will have a huge profit by this time but none of that matters now as it is impossible to do. The best thing to do now is work on what we have now and hopefully wishing that it would also turn the same for us in the future. Just keep stacking bitcoin!
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July 12, 2017, 06:48:57 AM
 #34

I just wonder how it became possible for him to foresee the future. I read somewhere in 2009 and in 2010 the miners put bitcoins for sale in ebay but no one was ready to grab them. When trend was like that, if someone decided to grab 20k bitcoins in 2010 must be a genius who got capabilities to foresee what is going to happen.

I mean to say he must deserved the wealth he could get from his bitcoins. Buying some bitcoins in 2010 is not a big deal but holding them till date must be differentiating such people from rest.
Well, I think he just trusted it and see what will happen to it. Maybe he did a research about cryptocurrencies that time and was convinced that it will give positive results in the future. Another thing is that he is a Software engineer in the silicon valley! I'm sure he has a good wage salary over there and the price of bitcoin that time is so low it will make you feel like if you bought it, you will have nothing to lose, so it is a good investment from way back.
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July 12, 2017, 07:34:10 AM
 #35

That is very unlikely, being a software engineer and not having 2 powerful computers to mine instead of buying? was there any pool mining

Or ASIC miners in 2010 to make it impossible to mine solo? if I had that money I would be investing at least 1/3 of it back to mining to acquire

More of such coin that gave me so much profit. he sold them @2600 that means it was recently but I heard another story that he sold when

Price reached $1000 back in 2013, I don't know which one to trust. if he doesn't declare his holdings of Bitcoin to the government he could

Lose them all if they catch him at airports.
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July 12, 2017, 02:42:22 PM
 #36

From what I understand he sold some BTC in several batches at various prices and made 26 millions total, keeping some BTC for even higher prices. I expect he still has 1000 BTC or more.
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July 12, 2017, 03:19:10 PM
 #37

Most of the Early investors have already been millionaires with bitcoin because even the one who have only bought or mined 500 bitcoins on those years can exchange it for more than a million dollar.  Shocked

If there will be time travel possible in future, I will be happy to got back to 2009  Wink

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July 12, 2017, 04:30:29 PM
 #38

It really is a great story. I don't know if it is fake or not but can happened, why not. It is very rare to hear about story like this, not much people made this kind of financial achievement. This man believed in it and that other guy bought pizza for, how much? 10000 bitcoins?... I also think that it is pretty big amount to invest in something that is unknown. I am sure that he did lot of research but I don't know... 3000$ is big amount, pretty optimistic investment but he 'bet' hard and he won. Good for him Smiley

This is a very clickbaity history to say the least... it could be real but lately all these news websites love to get stories like this of some guy having a ton of BTC from the early days, selling it and then enjoying their millionaire lifestyle. I think they are inciting people to sell. The conspiracy theorist in me thinks that they will start pushing this type of news to trigger panicselling along with the "blocks are full" FUD with the spam attacks. So dont fall for it and just hold.
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July 12, 2017, 05:28:19 PM
 #39

It's unbelievable story for everybody but I believe this story it's my personal matter.
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July 13, 2017, 01:38:59 AM
 #40

Oh lord first time hearing a story of a person who actually bought bitcoin in early days and 20000 bitcoins is no joke if he sells everything at 3k he will just make 60 million dollars. Not going to be jealous of him as who thought we would see a day like this
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