how fascinating this story is...

[cafter]

I was reading some old posts and came across this thread where a user named Kevin(toasty). In the thread, he shared the incredible story of how he bought BTC259684.77 for just $2613, essentially acquiring them for a mere fraction of a cent each. It is a remarkable stroke of luck, and it got me wondering if he still holds onto those bitcoins.
Kevin also provided a detailed explanation of how he managed to obtain such a substantial amount of bitcoin at a lowest cost, including his strategy to buy from MT Gox exchange.
this story is like you won and all your funds robbed.

[Faisal2202]

From what I understood from the post you shared, Kevin did not have access to all those BTC259684.77 he was able to withdraw only 643 btc, Because, of the limits that MT Gox had at that time, In my thought, Kevin made mistake for talking to the CEO of the MT Gox and telling him about the situation and how he able to buy that much BTC at that low rates. I mean, this is all so crazy at first hand, I did not realize, things were that faulty back then.

Well, overall, the story is really fascinating and really a good one too, I hope Kevin will have access to those 643 BTC that he was able to withdraw from it.

You are correct Kevin to take this approach. I believe Mt Gox tried to fuck everyone, especially you.  I believe they may have stolen bitcoins from accounts, then tried to sell them to buy them back up, thus laundering them into their own hands.

That's just my opinion, based on everything I have read and heard so far.

This might be a possible reason behind that sell order, well, overall, this is so messed up.

[cafter]

snip

this thread is an example of how shady an exchange or any reputed exchange/company/brand can be behind the painted wall.

Overall toasty just wanted to help users by starting that thread.

[Mpamaegbu]

Kevin's (toasty) story is a very lengthy one but in all I suspect he truly was into something. Though he denied/isolated himself at a point from the hacker and claimed he was merely into trading and only profited from a failed system. If he wasn't into something fishy, why did he write MT Gox? I believe his conscience pricked him to text MT Fox on that to appease himself. From the comments on that thread, we could even read some of the users throwing shades at him.

Well, overall, the story is really fascinating and really a good one too, I hope Kevin will have access to those 643 BTC that he was able to withdraw from it.

Toasty said he already transferred the Bitcoin to a private wallet. So, he had access to it; except he mismanaged it later or his wallet got hacked.

[avikz]

I was reading some old posts and came across this thread where a user named Kevin(toasty). In the thread, he shared the incredible story of how he bought BTC259684.77 for just $2613, essentially acquiring them for a mere fraction of a cent each. It is a remarkable stroke of luck, and it got me wondering if he still holds onto those bitcoins.
Kevin also provided a detailed explanation of how he managed to obtain such a substantial amount of bitcoin at a lowest cost, including his strategy to buy from MT Gox exchange.
this story is like you won and all your funds robbed.

That's unfortunate for him. However what you will say on Bitcoin Pizza story? When Laszlo spent 10,000 bitcoins to buy two pizzas back in 2010. It's 312 million USD at today's rate.

In Kevin's story, it was robbed. In Laszlo's story, he spent that amount willingly. Not sure what I would have done if I was in the same position. Probably a regret for the rest of the life!

[franky1]

I was reading some old posts and came across this thread where a user named Kevin(toasty). In the thread, he shared the incredible story of how he bought BTC259684.77 for just $2613, essentially acquiring them for a mere fraction of a cent each. It is a remarkable stroke of luck, and it got me wondering if he still holds onto those bitcoins.

try reading your link, he only withdrew 643coin

[cafter]

I was reading some old posts and came across this thread where a user named Kevin(toasty). In the thread, he shared the incredible story of how he bought BTC259684.77 for just $2613, essentially acquiring them for a mere fraction of a cent each. It is a remarkable stroke of luck, and it got me wondering if he still holds onto those bitcoins.

try reading your link, he only withdrew 643coin

I don't mean he hold those all 250k bitcoin, it's an assumption if he may been holding..

[Upgrade00]

MtGox was a scam exchange and screwed over thousands of users on their website.

I don't see a point discussing events of the past but this goes to show how long centralized exchanges have been scamming people and how it's ironic that people still trust them with their bitcoins.

[franky1]

I was reading some old posts and came across this thread where a user named Kevin(toasty). In the thread, he shared the incredible story of how he bought BTC259684.77 for just $2613, essentially acquiring them for a mere fraction of a cent each. It is a remarkable stroke of luck, and it got me wondering if he still holds onto those bitcoins.

try reading your link, he only withdrew 643coin

I don't mean he hold those all 250k bitcoin, it's an assumption if he may been holding..

no he didnt get all them coins. he only got 643.. as said by me and others.

the more interesting parts of the story is that mtgox itself only had ~500k total coins for all users and no single user had even close to 260k coins on their balance to sell. so it was an insider that when the ATH of 2011 hit $32, the insider done a flashcrash down to 0.01
mtgox reversed the transactions so toasty did not benefit from the 259k, the market then settled to ~$3

since 2011 no one really talked about, reposted or mentioned again that "toasty got 260k btc.." because he didnt

[Faisal2202]

Well, overall, the story is really fascinating and really a good one too, I hope Kevin will have access to those 643 BTC that he was able to withdraw from it.

Toasty said he already transferred the Bitcoin to a private wallet. So, he had access to it; except he mismanaged it later or his wallet got hacked.

I am not sure what you are trying to say here, you just repeated my words, I also said he withdrew all the 643 BTC to his wallet, where he has control of them, and in his post, he did not mention about any mismanagement or hacking case, if you are saying there occurred any. And if you are saying, that's the headache of the Kevin, Toasty, then yeah, I agree with you.

After withdrawing the BTC into his own wallet, it becomes his responsibility now, to secure it. And use it in a mannered way. whatever the decision will be, it will be of toasty now.

He was not able to withdraw the remaining amount due to the limitations set by the Mt Gox exchange, the limitations were not lifted even after Kevin did extra KYC. As I said before, it was a mistake of Kevin to tell about the situation to CEO of Mt Gox.

[Mpamaegbu]

~snipped~

I am not sure what you are trying to say here, you just repeated my words...

Yes, I reiterated your position there.

[Dunamisx]

I was reading some old posts and came across this thread where a user named Kevin(toasty). In the thread, he shared the incredible story of how he bought BTC259684.77 for just $2613, essentially acquiring them for a mere fraction of a cent each. It is a remarkable stroke of luck, and it got me wondering if he still holds onto those bitcoins.

Who knows if he's still alive, if he still hodl his coins or if everything had faded away together with MT Gox exchange, but the best to wish was if he still have in possession of this huge amount of bitcoin till date, some people were also left with some opportunities to take out risk in them while some couldn't allow to bear the demands for taking risk because of fear.

Kevin also provided a detailed explanation of how he managed to obtain such a substantial amount of bitcoin at a lowest cost, including his strategy to buy from MT Gox exchange.
this story is like you won and all your funds robbed.

It would have been better if he has sell off ever since then and never miss a fragment of his money than holding it with MT Gox exchange to have experienced the ugliest when the exchange capsized, many people have just found this opportunity a life transforming one while some couldn't.

[gunhell16]

I was reading some old posts and came across this thread where a user named Kevin(toasty). In the thread, he shared the incredible story of how he bought BTC259684.77 for just $2613, essentially acquiring them for a mere fraction of a cent each. It is a remarkable stroke of luck, and it got me wondering if he still holds onto those bitcoins.
Kevin also provided a detailed explanation of how he managed to obtain such a substantial amount of bitcoin at a lowest cost, including his strategy to buy from MT Gox exchange.
this story is like you won and all your funds robbed.

That's unfortunate for him. However what you will say on Bitcoin Pizza story? When Laszlo spent 10,000 bitcoins to buy two pizzas back in 2010. It's 312 million USD at today's rate.

In Kevin's story, it was robbed. In Laszlo's story, he spent that amount willingly. Not sure what I would have done if I was in the same position. Probably a regret for the rest of the life!

That's really a huge amount; if I think about it, 10,000 bitcoins just paid for the pizza. It's good that in those days there was someone who accepted Bitcoin as payment in a business establishment. I'm sure the person who did that will feel guilty if it's true that it really happened, which is why he paid 10,000 bitcoins at that time.

Now, on the subject we are talking about, based on the story, at least he was able to release something that was more than 600 bitcoins, although it is very far from the balance that he actually has on the platform of Mt. Gox and nothing has happened. This is just a lesson to our communities that still remain in the field of crypto space.

[Ultegra134]

snip

this thread is an example of how shady an exchange or any reputed exchange/company/brand can be behind the painted wall.

Overall toasty just wanted to help users by starting that thread.

Thanks for sharing; this was a fascinating story that I hadn't heard before. However, I'm going to disagree with you. First of all, I'd like to state that I've got zero knowledge regarding the crash of Mt.Gox, how it occurred, and what mistakes the exchange made. Although, from my understanding, the user named "toasty" took advantage of a loophole in the system to acquire Bitcoin far cheaper than the market price. From how I'm seeing things, setting other factors aside that this user mentioned regarding the exchange's safety, it looks like it's intentionally exploiting something that wasn't supposed to function that way.

In fact, he got away with more than 600 bitcoins, for which he could have been sued by the exchange. Thus, I don't see how the exchange acted shady and blocked the withdrawal of the remaining coins. Correct me if I'm wrong, because I might have misunderstood.

[lionheart78]

With the information given and the history of Kevin's Bitcoin movement in the story, I do not find the story fascinating because according to one of the post here, Kevin had mismanaged the fund or got hacked.  There is no fascinating thing to not be able to withdraw your BTC due to an exchange set limit.  Yes, he bought that huge amount of BTC at a very low price but that was the price of BTC back then (maybe he bought at a lower price due to some under-the-table deal).

He could have tons of profit even with just those allowed BTC to be withdrawn but in the end, it is not a fascinating story if the holder mismanaged the fund or got hacked.  What I can learn from the story is that we should not trust centralized exchange 100% even if we have a deal with its CEO, (think of FTX deal with CZ) and we must learn how to secure our wallet so that we won't get hacked.

[bettercrypto]

I was reading some old posts and came across this thread where a user named Kevin(toasty). In the thread, he shared the incredible story of how he bought BTC259684.77 for just $2613, essentially acquiring them for a mere fraction of a cent each. It is a remarkable stroke of luck, and it got me wondering if he still holds onto those bitcoins.
Kevin also provided a detailed explanation of how he managed to obtain such a substantial amount of bitcoin at a lowest cost, including his strategy to buy from MT Gox exchange.
this story is like you won and all your funds robbed.

The amount of Bitcoin is 259k; even if you don't work and enjoy life, it's fine if the base price is what we have right now. Its value is too big in fiat. That's why Kevin didn't release that amount of bitcoin.

Maybe somehow he's just thankful because he still withdrew 643 BTC, right? So I'm just curious: until now, is he still stressed by that incident? That seems depressing for people who can't control their emotions. But I hope he is okay and that he has overcome that ordeal. Maybe he should not remember because it is inevitable that that can be the cause of stress.

[Tuturtinular]

I was reading some old posts and came across this thread where a user named Kevin(toasty). In the thread, he shared the incredible story of how he bought BTC259684.77 for just $2613, essentially acquiring them for a mere fraction of a cent each. It is a remarkable stroke of luck, and it got me wondering if he still holds onto those bitcoins.

If we hear stories about people who have bought bitcoin in the past and buying bitcoin at a very cheap price is a stroke of luck. But in my opinion they were people who dared to take risks, at that time bitcoin was not as popular as it is now so the risks were greater than now. If bitcoin is not popular then they will lose big, but bitcoin is getting more popular as time goes by so the risk they are betting on will result in something good in the end.

[cryptomaniac_xxx]

I was reading some old posts and came across this thread where a user named Kevin(toasty). In the thread, he shared the incredible story of how he bought BTC259684.77 for just $2613, essentially acquiring them for a mere fraction of a cent each. It is a remarkable stroke of luck, and it got me wondering if he still holds onto those bitcoins.
Kevin also provided a detailed explanation of how he managed to obtain such a substantial amount of bitcoin at a lowest cost, including his strategy to buy from MT Gox exchange.
this story is like you won and all your funds robbed.

Read the story again, he wasn't able to withdraw everything and we all know what happened to Mt. Gox, it was hacked and up to this day, everything is not yet settled and the ghost of the hacked still haunts us all.

Yes, definitely, there are a lot of good and bad stories of early adopters of bitcoin, some of them sold early because they didn't thought that it will take off. Others continue to invest and they are some of the most well known proponents of bitcoin of today. And then we think that if we could go back in time, definitely we will buy a lot of bitcoin and then hold on it or put it in our wallet that we have control. But still not late though, we still have some time to become a crypto millionaire.

[Faisal2202]

this thread is an example of how shady an exchange or any reputed exchange/company/brand can be behind the painted wall.

Overall toasty just wanted to help users by starting that thread.

I cannot agree more with you, because, that thread was made around 2011 and it was full of red flags, and warnings, so we should avoid its usage, but I think there was no other option available for trading purposes, at that time. So, all would accept their destiny that it is what it is.

Maybe those who knew that MT gox is a shady one, might have dropped the idea of using it and might have been saved by the hack of Mt Gox in 2014. I mean, if one has so much BTC, then why risk all the BTC to hold and trade on Mt gox, Why did people keep a huge amount of BTC on that exchange? Well, one logical answer is, that back then, BTC was not considered that much.

But, they still have to take extra measures, because, back then, people who got into it, knew the potential, and did knew that it would make some great change in the future. But still, those people failed to control on there emotions and thought they had only one option and would be provided with one option of an exchange (mt gox).

[CryptoHeadlineNews]

I was reading some old posts and came across this thread where a user named Kevin(toasty). In the thread, he shared the incredible story of how he bought BTC259684.77 for just $2613, essentially acquiring them for a mere fraction of a cent each. It is a remarkable stroke of luck, and it got me wondering if he still holds onto those bitcoins.

The issue is not getting by getting many bitcoin long time ago, but it's by how many do you have presently that matters most especially now that the price of one Bitcoin is been sold at the rate of $34,000 per BTC, of which had this user still gotten his/her 259684.77 still available, that's a whole lots of money capable of buying an entire community, as that will would have been approx. $8,829,282,180 ($8.8billion) gain for an investment he/she had bought long time ago for just only $2613 many years ago.