Reasons why early Bitcoin miners made it

[Lamtel]

As at January 2009 when Bitcoin was launched as the first decentralized digital currency, mining of Bitcoin was very easy for the early miners. Depending on their computational capacity, one with a good CPU can mine up to 1 Bitcoin within a second. As of 2011, 1 Bitcoin can be mined within 20 minutes, and as of 2012, 1 Bitcoin can be mined within 2 hours, etc. As the year goes by, Bitcoin began to appreciate in values and the mining rate drops.

From this, it indicates that the early miners had already accumulated huge amount of Bitcoins in their wallets. As a matter of fact, those that were unable to mined maybe due to lack of computing devices can still purchase up to 10,000 of Bitcoins with just $10 .

Imagine someone who has accumulated huge amount of Bitcoins in his wallets and has not sold all, compare his remaining Bitcoins to today's Bitcoin value in dollars.

Smile 😊 you can see that most of them are billionaires. Thats fantastic right☺️☺️☺️

[OsaiEmma]

That is certainly true, but unfortunately, most (if not all early miners) sold fairly early but made a lot of profit, cause I mean, most people went into it for the sake of making profit, so when they do spot a good price, the most certainly will sell, up to date, miners are still selling their mined coins constantly

[AVE5]

The earlier bitcoin miners were actually ones who mined and spent less of resources including energies, minimum mining computers like the CPU in a less complexity with the computing and arithmetical works and less time consuming before mining a block.
I regard those days to be golden opportunities where one could actually farm bitcoin then that it was very less regarded. Due to less public interest was also why there was the very low number of miners given it a room for them to accumulate a lot of bitcoins.

[tbct_mt2]

As at January 2009 when Bitcoin was launched as the first decentralized digital currency, mining of Bitcoin was very easy for the early miners. Depending on their computational capacity, one with a good CPU can mine up to 1 Bitcoin within a second. As of 2011, 1 Bitcoin can be mined within 20 minutes, and as of 2012, 1 Bitcoin can be mined within 2 hours, etc.

I don't know how did you get that information and I guess you took it from some sources. It would be better if you provide more information about those figures and also mentioned the information sources.

With time, more people joined Bitcoin network as miners, and the Bitcoin blockchain difficulty increases quickly so the mining competitiveness increases a lot. It reduces bitcoins as mining reward for each miner, and there is also big effect from Bitcoin halvings every 210,000 Bitcoin blocks.

This following topic presents about the same thing you want to discuss in your topic.
Equivalent Network Time.

[SamReomo]

From this, it indicates that the early miners had already accumulated huge amount of Bitcoins in their wallets. As a matter of fact, those that were unable to mined maybe due to lack of computing devices can still purchase up to 10,000 of Bitcoins with just $10 .

Those times are long gone when someone could mine such number of Bitcoin or purchase so many Bitcoin for just $10, and unfortunately most of us weren't part of the community back then. However, in current times one can still invest in Bitcoin with DCA strategy and dip buying one and overtime he/she might be able to get 1 whole Bitcoin by investing at as low as $1000 per month.

[Furball808]

The bitcoin reward for a block then was 50 btc so imagine just how much would that have valued at today. That would be over 4 million US dollars now. But just like any other investor, they probably did not hold all of them until now. That motivational quote where it says that being the early bird gets the worm or something like that really applies well to bitcoin. It is not a guarantee that all of them are millionaires now but I am sure no one thinks of what if's the most than those who once held bitcoin during its early years but sold due to one reason or another.

[coinrifft]

It's very hard to say whether early Bitcoin miners made it and become a millionaire or even billionaire. Remember that early in those days, maybe some of them are mining just for experimentation. And maybe some of them have a lot of bitcoin that time but lost it. Or those hobbyist became holders. Or we can think of like,

- some of them have lost the private keys
- some didn't continue to mine
- or others sold early, we have seen a lot of tweets about it
- or some might have just mined small amount and that's it.

You can also have a read here about early miner: the first miners

[nemesis_incarnate]

It is, but we ourselves need to focus on the present.

We need to stack what we can now to be happy in the years to come as well.

[WHJHYY]

A lot of early Bitcoin miners “made it” because of a mix of timing, conviction, and pure stubbornness more than technical genius.

Back then, there was almost no liquidity, no clear price, and definitely no mainstream attention. People were mining on CPUs and early GPUs mostly out of curiosity or ideology, not because they ran profit models. The ones who stuck around usually had:

Patience to hold coins that were basically “worthless” for years.

Belief in the idea of a decentralized, censorship-resistant money system.

Low costs (cheap electricity, simple hardware) so they could keep mining without needing an immediate return.

Many others mined early but sold too soon, lost keys, or quit when the price crashed. The difference is that a small group kept their coins through multiple cycles and survived all the “Bitcoin is dead” headlines. Today, platforms like WHJHYY mainly serve a different role—providing access, liquidity and tools—but the core lesson from early miners is still the same: understand your risk, think long term, and only commit what you can afford to lose.

[betswift]

That is certainly true, but unfortunately, most (if not all early miners) sold fairly early but made a lot of profit, cause I mean, most people went into it for the sake of making profit, so when they do spot a good price, the most certainly will sell, up to date, miners are still selling their mined coins constantly

Yep. Think of all the souls that sold at 1k, 10k, and 100k.

It's their awaited prize for their hard work and if they reached their initial goals - they deserve every bit of it.

[suzanne5223]

As at January 2009 when Bitcoin was launched as the first decentralized digital currency, mining of Bitcoin was very easy for the early miners.

Yes, but that's not the technical fact about their success. We can't say there's no early BTC miners that still never made it.
The technical fact some early miners are millionaires now is because they were able to visualise the future of Bitcoin after Satoshi introduced it, take the risk, and grab the opportunity. An example is when Theymos claimed he has 50% of his net worth in BTC continuously for more than 8years years ago only someone that understand the future of something does that.

I've had at least 50% of my net worth in BTC continuously for 8+ years.
 

Do you know the numbers of faucets that waste Billionaire dollars in BTC then in today's market price? Let's be honest. You and I can mine BTC in the early days and still never made it if we don't clearly see it promising future, and the same thing applies in every setting.

[batang_bitcoin]

Not all of them have kept every bitcoin that they have mined on the early days. Majority have probably sold it when it has hit like 2x or 3x or 10x. We've got bull runs and it's very likely that each of those cycles, many of these miners who have accumulated on the early days have really sold a lot of their holdings and considered it as their fortune.

[ginsan]

From this, it indicates that the early miners had already accumulated huge amount of Bitcoins in their wallets. As a matter of fact, those that were unable to mined maybe due to lack of computing devices can still purchase up to 10,000 of Bitcoins with just $10 .

Those times are long gone when someone could mine such number of Bitcoin or purchase so many Bitcoin for just $10, and unfortunately most of us weren't part of the community back then. However, in current times one can still invest in Bitcoin with DCA strategy and dip buying one and overtime he/she might be able to get 1 whole Bitcoin by investing at as low as $1000 per month.

Most of us have not entered into bitcoin at that phase, and also not because of anything but because access is still limited, popularity is still low, the internet is not evenly distributed and also computer facilities are also in other parts of the country still limited, in my country only a few people who have influence can access it including the internet.

Yes, we can only invest now for the future, that is the path we can take, and take advantage of the opportunity before all the world adopts bitcoin, we will not know the maximum point of bitcoin in the future with billions of people in this world, so take advantage of it before everyone opens their eyes in bitcoin investment.

The past only needs to be remembered and become a beautiful story, don't look forward to the past and focus on the present to make the future with bitcoin much better.

[hero_the_bossman]

Not all of them have kept every bitcoin that they have mined on the early days. Majority have probably sold it when it has hit like 2x or 3x or 10x. We've got bull runs and it's very likely that each of those cycles, many of these miners who have accumulated on the early days have really sold a lot of their holdings and considered it as their fortune.

Definitely true.

Not everyone just saw the price and decided to continue hodling, I would say that most sold at least part of their holdings to see results at hands, and look at the situation from there.

[Pauldesaints]

It could be true anyway but it wasn't easy to venture into Bitcoin then because many thought the project will not stand the taste of time .if they made it it's has already been designed by God that it will be there opportunity to make it in life.

[Fivestar4everMVP]

Smile 😊 you can see that most of them are billionaires. Thats fantastic right☺️☺️☺️

Years ago when I learnt that there was a time when it was possible to mine bitcoin with the CPU/GPU computer, I bit my finger because that was really the golden era of bitcoin and only those who were super lucky were the ones who came across bitcoin in those time, I myself missed it and I am not always happy when ever I realize this, even more saddening is the fact that in late 2015 and early 2016 when I first came across bitcoin, it was still cheap but it appeared very expensive because then, I was so poor I couldn't afford the money to invest, no property to sell, no nothing, it was just me and my 7 - 7 job which I do nothing with the salary other than to feed to keep body and soul together working and waiting for another pay...

So mighty opportunities man have missed but anyways, still grateful for life and where I am today and looking forward to a better tomorrow still.

[FortuneFollower]

It could be true anyway but it wasn't easy to venture into Bitcoin then because many thought the project will not stand the taste of time .if they made it it's has already been designed by God that it will be there opportunity to make it in life.

Nah, BTC is about what people may achieve on their own, without such entities and third parties or corpos.