User got access to their 127 BTC after 9 years

[amishmanish]

And how is this good for you and me and everyone else holding bitcoins?
If those coins would be hols would mean every bitcoin left would be more valuable, look what happened, he dumped 100 of them,$4 million which could have been used to buy current mined coins went to cover those.
Do you think somebody else finding 5000BTC and selling them would be also good for bitcoin and for all of us?

My opinion on this is that its not suitable for long term growth to think that everyone with 100s and 1000s should hold so rest of us gain value. I would much more prefer the topmost wallets to regularly sell-off their BTC, keeping the price low and ensuring that the wealth generated through bitcoin has a higher chance of being spread about than remaining consolidated amongst few individuals/ exchanges and companies.

According to that logic, I do think that someone finding 5000 BTC and selling them all off would be good for bitcoin and for rest of us.

No matter what I hope though. the truth is that those with 100s and 1000s of BTC are smarter than me. They are HODLing and will continue to. The allure of being in the league of wealthy, rich elite is too enduring.

[buwaytress]

So nine years after losing that BTC, he's still not done with school? What'd he do in between? And more importantly, why'd he wait til Dec 2020? 2017 ATH wasn't good enough for him to try retrieve over a million dollars?

Have to say, am a little envious, but hey, if you got in that early, you deserve it.

Too bad I'm too good at keeping my private keys =p

[witcher_sense]

What conclusion should we draw from this story? Had he not forgotten about the existence of private keys, he would have sold his bitcoins far earlier and wouldn't have become that famous. That is an instructive story for current bitcoin pseudohodlers waiting to sell their bitcoin once it reaches some cool-looking round number. The key to successful holding for some is to completely forget what you are actually holding. That will prevent you from the temptation to sell when in panic or feel kind of greedy.

Ignorance is bliss.

[AB de Royse777]

Story is great but the ending is sad.

It just an accident. I do not think the user has any emotion for bitcoin but for fiat money. He cashed out all his coins and now looking to invest in low risk channel.

My plan moving forward is to find a safe, low-risk investment channel to put this money into after I figure out what I’m going to do with taxes. My thoughts are to probably put most of it in the S&P 500 until I’m at least done with school. I don’t want to end up like one of those people who win the lottery and blow it all in a matter of months/years. That being said, I’m going to continue living my life normally as I was on December 21st and every day before that. No expensive luxuries, no new house, no new car, nada.

https://www.reddit.com/r/Bitcoin/comments/ku0gzz/i_found_the_private_keys_to_my_127_bitcoins_i/

This is just a lottery for the user and he won a big prize.

maybe his sales influenced sell-off, 127 BTC is a solid amount for sale

I hope he finds bitcoin as a safe investment and realize the true potential of it.

Have to say, am a little envious, but hey, if you got in that early, you deserve it.

I do not see any difference between him and a guy who would win Euro million. He is just lucky.

[0t3p0t]

Unbelievable, simply unbelievable! What a great load of luck this guy had finding lost private keys from the past with a fortune in them. If he's smart enough he can also claim the corresponding shitcoins (bch, bsv.....) and go for a full Jackpot!
For some, life can be really surprising!

Maybe the owner of that 127 Bitcoins sold it all and invested in stocks so I think retrieving those shitcoins and convert it all into Bitcoin would be a future proof too but that 127BTC is shocking. He is still lucky enough he forgot those private keys for a long time  and woke up from a coma of a million dollar worth of Bitcoins just recently that's pure luck.

[acroman08]

the dude suddenly became a millionaire I'd love to see an interview about him. I am really glad for him. reading in the previous page that he sold all his coins I wonder if he will ever invest on bitcoin again.

[Shasha80]

Really a very lucky person, I'm sure many are envious of what that person got. 127 BTC is a lot, in my country it only takes 2 BTC to secure
the future. I don't know what the 127 BTC he has will be used for, I hope it can be used wisely. I am sure that this person is currently busy
planning to spend his Bitcoin. If I fantasize about getting 127 BTC, the first thing I do is pay off the debt and after that buy some things that
I really want.

[begau]

He's really lucky. If he found his private key a few years ago, he wouldn't have had huge sums of money. His life has changed after one night, congratulating the lucky guy and congratulating the bitcoin holders.

[boyptc]

Congratulations to him, he might read the thread in here since he's a forum guy. He's already a millionaire!

That loss for 9 years turned into a blessing to him. Good riddance!

[JohanM]

In his case I think he would have sold all of them a low time ago if he had the private key all that time.

Do not forget how tempting it is would be when you have a big stash of BTC from the old days (<1$).
You have to sit on them for years and every ATH resist the temptation of cashing out. That is a long time.
I think very few people of those early miners still have many. Over the years they will have cashed or lost maybe 70-95% of what they had.

In this case, the guy was very lucky to NOT have the key, he couldn't spend.

[LogitechMouse]

The author of the post under the nickname BitcoinHolderThankU earned bitcoins in 2011-2012 by watching videos and completing tasks, but lost the private keys to the wallet. He restored access only in December 2020.

Right now we are saying stupid things about these kind of things (watching videos to earn, completing tasks and faucets). Back in the days they are earning huge amounts of Bitcoin which doesn't have any value at that time but right now has a huge value already.

Now I'm thinking of doing some faucets again and just hold it hoping that it will go up JK. 127 BTC doesn't have any value at that time and the user is very happy and lucky that he got again the access to his lost Bitcoins. I can consider it a life changing retrieval .

[Yatsan]

He must be a very lucky user because if you can just imagine how many years have passed and he still have been able to regain access on his Bitcoins that have been stocked for around 9 years already. It just looks like you win a jackpot for having such incredible story because the span of time that those Bitcoins have been stored are treasured and not been stored for nothing because compared to the time he have acquired them to the value it have now, not just 1 BTC but freaking 127 BTC, it was a very shocking and inspiring story to be read at this times. He sure must have been very happy to regain access on his Bitcoins that seems to be impossible to gain access with after 9 years. Well, he was just so lucky then.

[DdmrDdmr]

Not sure if I quite buy the story myself, after reading through the Reddit thread. One particular I’m dubious about is the money transfer. Banks may apply limits on received wires as well as sent. I’ve tried to find the limits for the bank being used (Ally Bank), but have found no available information on the bank’s website or elsewhere, except for this three year old Reddit post:

https://www.reddit.com/r/personalfinance/comments/5rgb92/ally_bank_online_savings_transfer_limits/

The link stated that, three years ago, the transfer limit "To Ally" was of 250K$ per day (1M$ per month). Now the source is not official, and is oldish, but moving 4,25M$ in a single transfer may not be that easy. Then again, I don’t know anything about the implied bank, nor if actions were taken to ensure the transfer was received without any issues (no mention on the matter on the info provided by @ BitcoinHolderThankU).

[gabbie2010]

The owner has become an instant millionaire thanks to Bitcoin while his once disappointment when he misplaced the key had become a blessing he can now retire to enjoy his fortune peacefully, I believed hope is not lost for other hodlers who had misplaced their keys, maybe they might also gain access to those key in the nearest future, they keep faith that I would be found.

[Imran232]

God give his life back. It is like he us soo lucky and god now give him another chance to live like king size. Now just think about him 127 bitcoin when he lost what it value was it could be 1000  dollars or little bit more. He didn't care about his lost. But in 2018 when 1 bitcoin cross 16k that time he feels soo sad. And maybe he prays more and more to god. And god becomes satisfy on him and give him back his lucky key to unlock the lock. And he get back his little life like a king. Just think you an egg and cover it up for some days after that from eggs you get a hen then from this 1 hen you get more eggs then more hen and more and more. Its a process of luck when god gives you you can't count.

[stomachgrowls]

One of the Reddit users regained access to a wallet with 127 BTC that was lost several years ago. This is stated in the message in the r/Bitcoin subreddit.

I found the private keys to my 127 Bitcoins I lost 8-9 years ago. I’m at a loss for words. [UPDATE!]


The author of the post under the nickname BitcoinHolderThankU earned bitcoins in 2011-2012 by watching videos and completing tasks, but lost the private keys to the wallet. He restored access only in December 2020.

What a lucky guy for him to find out those coins amidst of this bitcoin price bull run, if he do able to sell it out on that peak price or even on this current price of $31k then that
would really be still a big amount to possess on.

Lucky for him to find up those seeds or private keys of that wallet because we know on how hard to recover a wallet if you dont know on where to find out those keys
and its no surprise that people will find out those things specially if they are aware on how much money they can possibly get.

Lots of DM's is surely expected and i also believe that majority of them are asking out for some tips or begging for money.  

[Tstar]

One of the Reddit users regained access to a wallet with 127 BTC that was lost several years ago. This is stated in the message in the r/Bitcoin subreddit.

I found the private keys to my 127 Bitcoins I lost 8-9 years ago. I’m at a loss for words. [UPDATE!]

First and foremost, wow; I did not expect my story to blow up as much as it did. I was shocked to wake up this morning to see that The DailyHodl published a feature covering what had happened. Over the past 24 hours, I’ve gotten dozens of DM’s of people asking me questions, requesting interviews, and most importantly—wanting clarification. If you don’t know what the heck I’m even talking about, feel free to look at my account’s recent post history.

The author of the post under the nickname BitcoinHolderThankU earned bitcoins in 2011-2012 by watching videos and completing tasks, but lost the private keys to the wallet. He restored access only in December 2020.

WOW, the right time to recover the private key! 127BTC are making them instant multi-millionaires.

Congrats, and use the money wisely. This is a life-changing amount that could bring you a very decent passive income.

[bclucho]

Congratulations to him! I can not imagine now peace should be the life of that man now, in economic terms of course

[oktana]

Wow! "No one knows tomorrow" they say. This is a perfect reason why we really need to backup our wallets properly and securely. If he could back up his wallet when bitcoin was worth very little, how about us who's witnessing Bitcoin at it's ATH? I'm happy for him; that he backed up, and could find the backup. And I know there are many other people who have earned or bought Bitcoin in it's early years but has either forgotten they have such or maybe lost their keys.

[Twentyonepaylots]

Kind of like a heartwarming success story. Imagine having to deal with the regret abd mental stress it would exert especially if you've heard of the 2017 ATH which broke mainstream media for a while, and just about when bitcoin is reaching even higher values the man himself got his bitcoins back. I can't say anything besides congratulations dude. You clearly earned it.