HODL to the max.

  • ddplf@szmer.info
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    2 days ago

    Honestly spending $210 000 on crypto in 2011 was a ridiculously risky move. No way the guy knew what he was doing, just tremendous luck (and just as much fucking stupidity)

    • phonics@lemmy.world
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      2 days ago

      This guy had fuck you money already. Probably a multimillionaire at a minimum back then.

    • Hanrahan@slrpnk.net
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      2 days ago

      Thats the story behind most extreme wealth, random luck.

      We just dont here much of most who didn’t have radom luck. e.g imagine a guy buying a lottery ticket, and he wins a $200million, we’d here the story, we don’t see interviews with people who bought a ticket and then lost.

    • humanspiral@lemmy.ca
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      2 days ago

      OP doesn’t know purchase cost. Wallet deposit on that date doesn’t mean it was purchased 1 hour before.

    • LustyArgonian@lemmy.world
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      1 day ago

      He was probably a foreign agent or government. BTC was invented and supported so spies could move money across borders without being caught by official government bodies/banks. Esp since a lot of spies do things like illegal drug trafficking, gun trafficking, human trafficking, etc. That’s why BTC was so popular on 4chan early on -4chan recently was hacked and it was confirmed there were government emails registered on the site. this last part is not true, it has been debunked, I still think that is why 4chan had BTC ads from users constantly so early though.

      There’s also slave groups of people forced to scam for crypto, NPR did a story about it on Planet Money. It’s entirely possible they are imprisoned or those are otherwise spy lead networks

        • LustyArgonian@lemmy.world
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          1 day ago

          Planet Money: https://www.npr.org/2025/05/23/1253043749/pig-butchering-scam-crypto-tether

          This article talks about how the CIA in crypto: https://www.vice.com/en/article/the-cia-is-deep-into-cryptocurrency-director-reveals/

          This article outlines the general whispers that have been happening for a very long time that Satoshi (btc creator) was CIA, but no, it isn’t made up by me personally and it’s pretty credible of a theory with all the other info: https://www.binance.com/en/square/post/1229087

          • RazgrizOne@piefed.zip
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            1 day ago

            The planet money piece is very long so I’ll have to check it out later, but the Vice article says nothing of the sort and actually spends time mocking people and saying it’s a conspiracy. So I’m not really sure how that at all supports what you’re saying. It just says CIA is interested in and involved in crypto, which makes sense given how it’s used. It does not say anything at all like what you claimed

            BTC was invented and supported so spies could move money across borders without being caught by official government bodies/banks.

            • LustyArgonian@lemmy.world
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              23 hours ago

              No, the Vice article fully supports what I’m saying for that point. Look who is quoted:

              CIA Director William Burns said on Monday that the intelligence agency has “a number of different projects focused on cryptocurrency” on the go.

              “This is something I inherited. My predecessor had started this, but had set in motion a number of different projects focused on cryptocurrency and trying to look at second- and third-order consequences as well and helping with our colleagues in other parts of the U.S. government to provide solid intelligence on what we’re seeing as well.”

              As I stated, the CIA is fully involved in crypto. The other article is the one that explains why people think Satoshi is CIA.

              How do you think spies get money?

                • boonhet@sopuli.xyz
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                  21 hours ago

                  In cash, but it was always risky. Couriers get intercepted, etc.

                  That said, I don’t think BTC is the best for CIA. It’s publicly traceable and that’s always been known. Of course if they have untraceable bank accounts and used those to buy the BTC, then it’s not particularly relevant. The spies can use their own tactics to hide their income.

    • Beacon@fedia.io
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      2 days ago

      That’s literally the exact amount of USD you can exchange it for, so it is literally worth exactly that amount

      • givesomefucks@lemmy.world
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        2 days ago

        Sell 8 billion dollars worth of anything, and you’re gonna have a hell of a lot less than 8 billion dollars.

        Because you’ll flood the market, at that volume a potentially irreversible drop in price.

        It’s basic economics, but you are defending crypto…

        • lemmydividebyzero@reddthat.com
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          23 hours ago

          I don’t get the point. Now, we cannot use the word “worth” anymore to describe anything that could hypothetically move the market down by a few percent when sold? With the usual ups and downs of Bitcoin, we will probably barely see it in the graphs…

          It’s 0.4% of the market cap. It’s not like Satoshi with his 10% of the market cap came back…

        • ikt@aussie.zone
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          2 days ago

          you think 8 billion would drop bitcoin irreversibly

          https://www.forbes.com/sites/digital-assets/2024/10/31/microstrategy-announces-42-billion-bitcoin-investment-plan/

          bitcoin itself does 9 billion in volume daily

          also the worth is simply the stated value at the time, it obviously doesn’t take into account market liquidity as that would be difficult to measure, but you’d know this and not bother pointing it out because that’d look silly right

        • Beacon@fedia.io
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          1 day ago

          That’s nonsense because then you’re just saying the word “worth” doesn’t mean anything when it comes to anything besides unique items

          • sprite0@sh.itjust.works
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            21 hours ago

            no it just fails when you amass enough of something to affect its scarcity.

            if we discovered the moon was made of solid gold the moon wouldn’t be worth the current gold spot price times it’s weight, instead gold would become worth much less.

            • Beacon@fedia.io
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              15 hours ago

              You’ve missed the point. The point is that whatever you say about the word “worth” when it comes to bitcoin, then that same distinction would apply when you use the word to talk about USD too, and euros, and oil, and every other currency and commodity.