He bought $10 Bitcoin and tells the story of his decade of madness and the bet that changed his life.
A Bitcoin bet that paid off – There is no shortage of fantastic life stories to tell among those who have been interested in Bitcoin (BTC) since its early years. Such is the case of a user of the Reddit social network, who announced that he’d fallen in love with Bitcoin as early as 2011, with all the emotional roller coaster it implies.
5 BTCs removed to make room for a video game
You may have been following our incredible stories of the Taihuttu family or this Japanese restaurateur, who have bet on Bitcoin as early as 2013. It had already changed their lives. But now here is the story of an even earlier adopter of the cryptomonnaie created by Satoshi Nakamoto.
On Reddit, user Graphene_Hands tells us, in a long message, how his adventure with the king of cryptos began :
„I heard about Bitcoin for the first time in 2010, on one of the many forums that I frequented in my libertarian Internet circle. It was an interesting concept for me, but I didn’t pursue it at all [at first]. »
A few months later, in the same year, he briefly had fun creating a Bitcoin wallet, to collect a few cents (at the time) of Bitcoin via a faucet: around 5 BTC, he says (that is the trifle of … 170 000 dollars today).
But he quickly dropped that first experiment, removing the wallet (and its bitcoins) forever to „probably make room for a Steam video game“.
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2011: the first purchase and the mining
It was a little later, in May 2011, that our friend fully converted to Bitcoin. At that time, he explained that he had devoted all his free time to studying the creation of Satoshi Nakamoto :
„After a week or two of obsessing and reading about Bitcoin, I decided that it was the most important invention since the internet – the most perfect form of silver ever created. One of the most ingenious systems ever devised by mankind.
At that time, the Mt Gox platform was a must to buy bitcoin for trust money. So he wanted to invest $500 to try and get some BTC at $3 each.
Problem: by the time his money arrived on Mt Gox, our poor friend saw the bitcoin keep increasing. So he was taken off FOMO (fear of missing out on a good deal). So, 3 days after he initiated his money transfer, he was finally able to jump on Bitcoin (and too bad if his price was then on a historical high). He bought 50 BTCs at $10 each.
He still announces HODLer today these first BTCs (which he, thank God, withdrew from Mt Gox before the platform collapsed), worth 1.7 million dollars at the time of writing. It leaves one dreaming!
The next day, he plunged into bitcoin mining with his graphics card (GPU) of the time: a Radeon 5970. That’s right! The era of ASIC specialised machines had not yet begun.
As it wasn’t going fast enough, he bought another, identical GPU a few days later. He managed to undermine an additional 50 BTCs in one month, before giving up at the sight of the electricity bill.
And guess what he did with it! He still HODL them almost 10 years later.
„I had been talking about Bitcoin to all my family and gaming friends all that time. They all laughed at me. I told them they wouldn’t laugh when I was a millionaire. »
The story does not end there, however. 2 years later, in 2013, Graphene_Hands will start mining Litecoin (LTC), and will also take advantage of the opportunity to buy back some bitcoins. In all, 30 additional BTCs and more than 400 LTCs were added to his arsenal, and… he is still mining them today.
Don’t hesitate to read the rest of his story, especially concerning the crazy period of 2017 (which allowed him to buy house and car with a few cryptos bought in the meantime), or the big (and depressing) periods of bearish/stagnant markets. Bitcoin is more than just a new form of currency: it’s an adventure in itself.