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Author Topic: 3 years ago, satoshi got greedy!  (Read 1121 times)
adamstgBit
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January 04, 2012, 03:59:10 AM
 #1

3 years ago bitcoin was born,

1.5 years later mtgox was born

what took them so long... did satosih and his friends mine 3 mill coins b4 letting everyone know about bitcoin?

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nmat
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January 04, 2012, 04:03:05 AM
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3 years ago bitcoin was born,

1.5 years later mtgox was born

what took them so long... did satosih and his friends mine 3 mill coins b4 letting everyone know about bitcoin?

No. It was immediately announced in a mailing list. Bitcoin was really small back then so it didn't make much sense to start building an exchange right away.
casascius
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January 04, 2012, 04:07:54 AM
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3 years ago bitcoin was born,

1.5 years later mtgox was born

what took them so long... did satosih and his friends mine 3 mill coins b4 letting everyone know about bitcoin?

The first year of mining was a slow one, even at difficulty 1.
By Year 1, there were only 1.6M bitcoins.  The other 6.4M bitcoins were mined in years 2 and 3.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper or hardware wallets instead.
adamstgBit
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January 04, 2012, 04:13:38 AM
 #4

3 years ago bitcoin was born,

1.5 years later mtgox was born

what took them so long... did satosih and his friends mine 3 mill coins b4 letting everyone know about bitcoin?

The first year of mining was a slow one, even at difficulty 1.
By Year 1, there were only 1.6M bitcoins.  The other 6.4M bitcoins were mined in years 2 and 3.


helpful information, more info / comments on the early days of bitcoin would be cool!


RyNinDaCleM
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January 04, 2012, 04:59:46 AM
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The BitCoin pizza is worth about $48,000 now!  Shocked

 Cheesy

mjcmurfy
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January 04, 2012, 05:08:16 AM
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The BitCoin pizza is worth about $48,000 now!  Shocked

 Cheesy

"BitCoin Pizza" sounds like a great business proposal, now that I think about it...
I think that pizza must have been the only one in the world to have become more valuable after it was eaten. Cheesy

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RyNinDaCleM
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January 04, 2012, 05:14:31 AM
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The BitCoin pizza is worth about $48,000 now!  Shocked

 Cheesy

"BitCoin Pizza" sounds like a great business proposal, now that I think about it...
I think that pizza must have been the only one in the world to have become more valuable after it was eaten. Cheesy

Lol, Agreed! I had some pizza today that wasn't worth it's weight in poo!  Sad

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