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submitted by /u/Fiach_Dubh [link] [comments] |
Sunday, 10 January 2021
A moment of appreciation for Marc De Mesel, that's all. He did many things that I feel were under appreciated and unknown by the community.
With the Bitcoin Cash price pump, I think I would like to take a moment to show appreciation for Marc De Mesel's contributions in the Bitcoin Cash ecosystem. Not everyone knows, but he helped financially (strategically) on important Bitcoin Cash projects like the BCH Full Nodes, AnyHedge (Defi on BCH), readcash/noisecash (which increases the transactions on BCH by more than 550% and still growing), plus a bunch of other things (such as using his influence to drive traffic from his social media to Bitcoin Cash projects). He also helped indirectly to remove the ABC dictator from power. I think I owe him a huge thanks because he gave me lots of motivation to work on Bitcoin Cash stuff (which I am still working on). That's all. =D
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source https://www.reddit.com/r/btc/comments/ku4226/a_moment_of_appreciation_for_marc_de_mesel_thats/
I found the private keys to my 127 Bitcoins I lost 8-9 years ago. I’m at a loss for words. [UPDATE!]
First and foremost, wow; I did not expect my story to blow up as much as it did. I was shocked to wake up this morning to see that The DailyHodl published a feature covering what had happened. Over the past 24 hours, I’ve gotten dozens of DM’s of people asking me questions, requesting interviews, and most importantly—wanting clarification. If you don’t know what the heck I’m even talking about, feel free to look at my account’s recent post history.
#1: Proof and Clarification
Although the vast majority of people responded positively to my previous post, some were skeptical about the legitimacy of what was said. There were comments asking how I managed to sell all 127 Bitcoins in just one day when even the largest exchanges have limits well under $100K/day of how much BTC you can trade on their platform.
As mentioned in my initial post, I was at my grandpa’s house for around a week for the holidays. The day I found my private keys was December 22nd. I spent the next week figuring out how to safely and securely liquidate such a large amount of Bitcoin for the cheapest price possible (in terms of fees). I quickly realized this was not possible by simply opening up a regular account on Coinbase or Binance and selling my crypto through there. Not only would it take forever due to the daily withdrawal limits, but at the time I was also worried that the price of Bitcoin would suffer a major drop throughout the lengthy liquidation process. Of course, hindsight is 20/20 because Bitcoin is roughly $41,000 as I’m writing this.
Anyway, as the days went on I was able to find the most optimal solution which was to sell the assets through an OTC Principal Desk. I went back and forth between different companies and ultimately ended up selling all 127 Bitcoins for a price of $33,439.02 per coin minus a 0.15% fee. The net was roughly $4.24 million.
I received the wire Thursday morning. I’ve gotten countless requests to provide a screenshot for further verification, so I logged into my Ally Bank app on my phone and did exactly that. I had to scribble out the title of the transaction for privacy because it shows the company I dealt with and another piece of personal info. The same thing goes for my account number.
#2: What I Would’ve Done Differently
Many different intense emotions were hitting me every single day for the past few weeks ever since this had happened. Initially, the number one thing on my mind was to not ruin this opportunity and to realize my gains as soon as humanly possible without somehow fucking this up. Looking back at things, I would not have sold all 127 Bitcoins if I were given a second chance. Instead, I would’ve sold the majority of them and kept a handful to hold for years to come. Especially seeing that the price of Bitcoin has gone up substantially this week, I can’t help but feel a bit of remorse for selling everything prematurely. Some of you commented on my previous post asking why I decided to end the post with “Hold On for Dear Life” when I sold everything. Well, to give myself credit, I did HODL for 8-9 years which is more than the vast majority of crypto users I think. But yeah, I definitely would’ve done things differently if I were given a second chance.
#3: My Plans Moving Forward
For one, I tried to log in to my old Dark Orbit account for nostalgia purposes but I wasn’t able to remember my username and/or password lol. My plan moving forward is to find a safe, low-risk investment channel to put this money into after I figure out what I’m going to do with taxes. My thoughts are to probably put most of it in the S&P 500 until I’m at least done with school. I don’t want to end up like one of those people who win the lottery and blow it all in a matter of months/years. That being said, I’m going to continue living my life normally as I was on December 21st and every day before that. No expensive luxuries, no new house, no new car, nada.
Just gonna keep on keepin’ on.
Edit: If you want to read my original post, here you go: https://imgur.com/a/P66HPTr
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help me shut down the bitcoinpaperwallet.com scam
As some of you know, bitcoinpaperwallet.com was a legitimate service that was taken over by a malicious individual who is stealing the private keys generated by that site. There are many Reddit discussions about this.
I have not been affected, but I run a Bitcoin wallet recovery service, and I've heard from customers who had their Bitcoin stolen there. It's dumb to use a paper wallet in 2021, but not everyone knows that.
It's very hard to shut down a malicious domain as a private person.
I'm open to ideas, but I have two requests if you want to help:
At this point, I can confirm that they've stolen millions of dollars in Bitcoins, so maybe a little pressure will convince them to retire.
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Bitcoin is a high risk investment
Instead, please invest all your money in this here financial product. It's value is tied to companies that you've never heard of, run by people who's morals and abilities you know nothing about. It's issued by a company that has f**ed their customers in the past. This is a smart investment strategy. This is safe.
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Bitcoin transaction fee will never drop below $0.10
Given the current price of $40,000+, a minimum reasonable fee of 1 satoshi/byte, and minumum transaction size of 250 bytes, a minimum transaction fee is currently set at $0.10. Consequently, the dream of cheap micropayments withing the Bitcoin Network itself is gone forever. Now the only hope is LN and fractional satoshi network payments.
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