I've never even spent even a single Satoshi.

[Jet Cash]

I must have been running nodes for over 10 years, and I still haven't spent a single Satoshi. I have bought a few coins, but most of my Bitcoin has come from free sources like faucets, or selling domain names that I've acquired from expired lists.. I've also received some coins that I've picked up at minimal cost. I think it's time that I discovered if I can spend my coins. I know I've got about $40 in one wallet that I password protected, and I've forgotten the password. When I get time, I'll see if I can recover that. At least I can remember the pass phrases for the main wallets.

I'm going to "spend" the coins in my early wallets by moving the coins into a later wallet on a new node. This will consolidate all the small transactions, and make management a bit easier for me. I'm hoping that I can perform a bit of tax planning to minimise liability as well. Another interesting possibility comes from exploring the possibility of having some alt coins on the forked blockchains such as Bitcoin Cash. I gather that Blockchain.com will tell me if I have any addresses with balances in addition to Bitcoin. I want to spend the Bitcoin in those  addresses to avoid the coins being stolen.

I wonder how many other members are in a similar position to mine.

[_act_]

About how to claim the forked coins, you can read what is on this topic: LoyceV's Bitcoin Fork claiming guide (and service). But I noticed the thread was updated last in 2022, probably because it might not need updating for now.

A wallet that support the forked coin can be used to access the forked coin so far you have the seed phrase or the private key of the forked coins.

I wonder how many other members are in a similar position to mine.

You are very early to know about bitcoin, I know about bitcoin late.

[Jet Cash]

I've found a copy of the blockchain ( with my wallet data ) that goes up to rev01438.dat, and google tells me that was probably  created in mid 2017. I guess that will probably cover the blocks that are included in the forked coins.

[LoyceV]

It's hard to imagine being active in Bitcoin as long as you have, without ever selling/sending any coins. Good for you!
For consolidating, you may want to read Consolidate your small inputs @0.11 sat/vbyte. Especially if you have many small inputs, you can save a lot on transaction fees by not using the wallet's default setting.

Depending on how much Bitcoin you own, you may want to reconsider moving everything into a new hot wallet. There's no need to risk it all, so you may want to look into cold storage.

For Fork coins: I used to get BCH, BSV, eCash, BTG and BCD. Now, BCH is worth about $440 per Bitcoin owned at Fork time, and the other 4 combined are worth about $10-20 per Bitcoin at the time. They also get harder and harder to sell, so most likely those aren't worth your effort.
TL;DR: move your Bitcoin to safety, import the old empty private keys into Electron Cash (don't trust this software on your system so use a spare system and wipe it afterwards!), and consolidate them onto a new address (or exchange them).

[Jet Cash]

I seem to get interested in something, and end up with too many items. I've got a garage full of stationary engine stuff that I picked up when I ran a recycling business that I had been given. I must have a dozen bicycles as well. I guess I should put them on Ebay. It's a pity that Ebay doesn't use Bitcoin - that would motivate me to get rid of stuff. I've just found another 3 external hard drives with copies of wallets and the blockchain. They are probably duplicates, but it will be interesting to see what I have got in Bitcoin. I need to consider the tax ramifications as well. It looks as if the UK government is getting greedy, and wants to confiscate anything that people own that has value.

[Cryptomultiplier]

I applaud your effort so far for almost a decade now, running nodes that many of us can't even dream of yet and earning while holding for that long, is no small feat. It shows shear discipline and determination. You also know that you have been able to minimize transaction fees so far.
 Also, you will not get taxed if you move your coins between two wallets you own.

Another thing of concern is to ensure that before you moved your forked coins, the specific fork must have replay protection so as to prevent accidentally broadcasting the transaction on other chain, which can cause other coins you don't intend to move, to actually move.
Lastly, I think you should do a small test by sending a small amount first to the destination address, before sending your entire coins so as not to fall prey to incorrect address or wrong software wallet.

[notocactus]

I've found a copy of the blockchain ( with my wallet data ) that goes up to rev01438.dat, and google tells me that was probably  created in mid 2017. I guess that will probably cover the blocks that are included in the forked coins.

LoyceV guided you well and if you want to claim forked coins, you can do these steps.

Another thing is there are many forked coins and perhaps you don't know all about them but like LoyceV said, most of them are useless and become harder to sell with time.
How Many Bitcoin Forks Are There? You will be surprised!!!

[Bastketsrus]

I applaud your effort so far for almost a decade now, running nodes that many of us can't even dream of yet and earning while holding for that long, is no small feat. It shows shear discipline and determination. You also know that you have been able to minimize transaction fees so far.
 Also, you will not get taxed if you move your coins between two wallets you own.

Another thing of concern is to ensure that before you moved your forked coins, the specific fork must have replay protection so as to prevent accidentally broadcasting the transaction on other chain, which can cause other coins you don't intend to move, to actually move.
Lastly, I think you should do a small test by sending a small amount first to the destination address, before sending your entire coins so as not to fall prey to incorrect address or wrong software wallet.

You made some good points. Running a node and holding for years takes real patience and discipline. Replay protection is also important, and doing a small test transaction first is always the safest way to avoid mistakes.

[Donneski]

I really respect the discipline it takes to hold that long without spending a single sat. In a space full of short-term thinking, that kind of conviction stands out.

What impressed me most is running your own node and wallet setup. Holding is one thing but verifying your own coins is another level. That’s real commitment to the idea behind Bitcoin.

[PrivacyG]

It's hard to imagine being active in Bitcoin as long as you have, without ever selling/sending any coins. Good for you!

We all often wonder how in the World some people got to hold some Bitcoin in their Wallet for over a decade and not spend any at all.  Not when that turned in to a thousand Dollars, not when it turned in to a hundred thousand, not even when it turned in to a couple Million.

Now I suppose we can see such an example right here!

-----

I need to consider the tax ramifications as well. It looks as if the UK government is getting greedy, and wants to confiscate anything that people own that has value.

Considering how long you have been holding Bitcoin for, you must have a decent amount sitting there.  You could start exploring possible ways to even use the advantage of Bitcoin related Laws offered by other countries, it may end up being a smaller cost than the United Kingdom Taxes you would other wise have to pay.

Some times, I feel in the same position like you when it comes to the management of my Bitcoin.  It happens that I forget Passwords, I know I wrote down some of them but I do not even remember where.  The good thing is that it usually happens to Wallets that never contain much in them.  Although even 40 Dollars is something.  It is worth the beers you could get for finally unlocking it at least!

[Upgrade00]

I'm trying to ignore it but the lower part of your signature text being placed differently keeps catching my eye.

I must have been running nodes for over 10 years, and I still haven't spent a single Satoshi. I have bought a few coins,

You've contributed to the network for over a decade that's very impressive work you're doing there along with the others that do voluntary work to keep Bitcoin secure and decentralized.

[Mate2237]

Going through your thread I feel that, you have a target in terms of the numbers of Bitcoin which you intend to have before selling. Because you totally forgot about spending your Bitcoin rather you were only interested in acquiring. You have to make sure that you don't forget your seed phrase because we have been hearing news about people losing access to their Bitcoin asset due to the fact they have lost their seed phrase.


When it comes to the issue of spending your Bitcoin I feel that, it will boil down to personal investment goals and  plan. Your reason of investing in Bitcoin will determine how long you can lay hold of your Bitcoin for a long time or not because, that will influence your decision when it comes to Bitcoin accumulation.

[Stalker22]

Can I ask "why now?", if its not too personal?  Bitcoin prices are not exactly at their peak, if you know what I mean.  It might be wiser to wait a little bit longer before selling your coins - unless, of course, you really need the money.

[Jet Cash]

Can I ask "why now?",

I feel it's time I learnt more about the commercial use of Bitcoin, rather than focusing on the acquisition. With more than one node and wallet, I can "spend" coins between them without losing ownership (apart from the fees). I can also verify that all coins are usable, and haven't gone to burn addresses. It's probably worth checking for any alt coins I may have picked up, although, as has been pointed out, I may have missed the most profitable time to dispose of them.  Having a Bitcoin cash wallet ( for example)  may be useful to help sell some lower value domain names. I can always sell that for real Bitcoin to add to my pot.

My belief is that the days of parabolic rises in the price of Bitcoin are over, but I expect it to have a more stable sustained growth later this year, and over the following years.

[LoyceV]

I can also verify that all coins are usable, and haven't gone to burn addresses.

My preferred method to test this, is to see if I can reproduce the address "from scratch" on an airgapped LIVE Linux system (running from RAM). But I admit that's easier from seed phrase than from a Bitcoin Core wallet.

[betswift]

Can I ask "why now?", if its not too personal?  Bitcoin prices are not exactly at their peak, if you know what I mean.  It might be wiser to wait a little bit longer before selling your coins - unless, of course, you really need the money.

or to just start to consider the options and footing for spending said sats.. it's not the ideal timing price-wise, but to spend BTC is to use it - and it should be used sooner or later

[Sandra_hakeem]

I feel it's time I learnt more about the commercial use of Bitcoin, rather than focusing on the acquisition.

I can tell that you've been very patient through different phases and cycles; 10 years and you barely even thought of spending a decent amount on yourself, not even during the new ATH. That's on another level!

My belief is that the days of parabolic rises in the price of Bitcoin are over, but I expect it to have a more stable sustained growth later this year, and over the following years.

You see, the most fascinating thing about Bitcoin is this 'uncertainty' - where you only have to trust your guts. ["The days of parabolic rises in the price of Bitcoin are over"...Do you mean we've gotten to our final destination already, Sir?]

[nemesis_incarnate]

^ I think what he means is, the price of BTC won't be giving 10-100X like it did from its start to where we are now, so now is the time to act on using said BTCs..