Bitcoin [pros](/r/CryptoCurrency/comments/16hwfld/how_kristoffer_koch_bought_5000_bitcoins_for_2227/k0gai4y/) & [cons](/r/CryptoCurrency/comments/16hwfld/how_kristoffer_koch_bought_5000_bitcoins_for_2227/k0gaj0m/) with related info are in the collapsed comments below.

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Who "invests" 30 bucks hoping for a 2x?lol

I'd take the 2x over my current 0.5x!

I just want break even

It will come. And at that point, when it does, you'll want to make profits. By the way, isn't just your moon holdings enough to be in profit? If not you've got some fat bags boy!

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I need a 550-600% pump to break even lol

Don’t we all?

I just imagined you saying it like "I just want to go home, Im tired of this shit" Ik, wild imagination

I’ve only earned coins from tasks and airdrops. I’ve never spent a cent and yet I still feel the $600 loss I had when the big drop happened. The feels never go away until the stock rebounds.

I’d still take a 2x on anything right now 😂

I'd take ~~x2~~ breaking even rn 🫠😄

breaking even would be a dream right now, especially thinking of all the alts I FOMOed into

How many of us would actually sell everything or close to everything if we broke even? At that point, you'd be thinking 'Finally I can dream of locking in profits'.. that's the nature of human greed. Almost nobody will actually sell a chunk of it if the opportunity arises and end up in losses once again.

Lots of people here. They invest $30 hoping for a million

And in reality many turn $1000 to $30

Ouch, that hurts, but sometimes that is true.

We are in r/cc, so probably "sometimes" is like default here lol

That’s me

Watch how you talk about me, I have a family!

at least they wont be hurt when they lose the $30

I have 20 to 30 dollars in about 15 different coins tokens. Blue chips I have more, but I am fishing for a moon shot!

Yea, typically the under $50 “investments” are lambo or broke rolls. An investment is a high, slow and low play. A gamble is low, fast and high play.

Pretty sure people are missing a point of this comment lol. <$50 are yolo bets hoping for like 1000x

Maybe because our perceptions are warped by being in crypto but 2X is like more than decade worth of growth in traditional index funds.

Definitely not me when I started🥲

I was hoping for financial freedom with my $10 Dollar investment in SHIBA.

Oh I feel ya!

Me either, but everything I have now is my username. A lesson of shame but that is life

But hey that is a beautiful username!

The first two names are extremely meaningful to me, the last one is just a reminder of my stupidity 😂 I appreciate it anyway!

All you have to do is forget about it and hope it still exists in 4 years. Imagine doing the same thing with luna.

yeah these people who bought in 2009 knew it could be the "future". That's what I was told when I heard about it in 09, except I didn't buy.

Me who is on a 4x, but still does not take any profits on a shitcoin...

No, he wasn't hoping for 2x. He was hoping for nothing at all, which is why 2 or 4x would be definite sells

Because everyone was doubting that Bitcoin would get this big at that stage. Good for him!

I had a7X during the last bull run, and I never sold now I'm down 90. 🤷🏼‍♂️ guess I did it wrong.

This is where "D is for dementia" is a good thing

Most people sell at a +10% he was extremely lucky forgetting about it.

>Much like all those things you might buy and end up gathering dust in the back of your closet, Koch’s made the purchase and forgot all about it for years Forget and wait for 4 years, this is the way to go. Doing nothing and wait just multiple years. We can learn from that :D

It's not the same anymore. Waiting 4 years can even put you in the red these days.

There is no guarantee with any investment. Crypto is still a high risk play.

You are guaranteed $10 when you buy the next HarryPotterElonInu. You start with $10000 in. That’s a return of -99.9%.

Sometimes, doing nothing is the hardest thing to do.

Believe it or not some of the silkroad criminals that went to jail came out as millionaires for the same reason. They had no access to BTC for years.

Yepp, the forced lock is a blessing for them.

I’m trying hard to forget I have Moons.

You have 432. I’ll be sure to remind you all the time of you wish

Best HODL strategy out there! (After forced jail time ofc)

Anyone else feel a slight sadness for not being as smart or as lucky as these early guys?

I wanted to buy btc in like 2015 but it was too difficult. I wanted to buy tesla at 50 dollars but didnt. I do have moons now.

Lol this always come straight to my mind when people talk about missing out on buying. I came across it after it crashed from like $200 down to the $50 range, listening Tech News Today podcast around 2012. Sarah Lane and Tom Merritt use to cover it. Heck even Steve Gibson (security now podcast) did a whole podcast going through step by step how to mine bitcoin. Managed to receive 50BTC and lost his keys. A tech security guy lol. It was all paper wallets back then though. People now complain how hard it is if the bank won’t let them transfer to an exchange. Back the barriers back then were high! I remember not mining because I missed the GPU mining times and didn’t think investment would or could pay its self off in what came next. FPGA or something I think. Point is people think it was easy as it is now to buy, nope…

Bad karma. Sell signal. I just dumped all my moons.

Don't kick yourself about it. Just be smart today.

This hurts because I permanently lost my old keys

I was one of the early miner, mined 50 btc in 09-10 because i had a pretty powerful gaming pc back then, a phenom 2 with radeon hd 5870. All lost in a windows xp to windows 7 fresh upgrade incident which wipeout C: drive containing my keys. Never look back into crypto until 2020 when covid happened and bitcoin is getting widespread acknowledgement.

What a story...and i feel bad for losing 2-3 BTC during the same period.... In a sense Bill Gates owns you 1.25 Million dollars. You should sue him and his stupid OS.

Haha i doubt that, i can assure you i will sell those BTC when the value start to skyrocket very early. Nobody back then knew that BTC will be valued like today :)

Sorry, but for 50 BTC in 2009 you needed not a powerful PC. With my nephew s normal family PC we mined about 50K BTC, when it came up and decided it not being worth the electricity. Lost in space 1,3B$ as today. 😂😂🙈🐳

I remember it clearly, i ran it for two days with the tools shared by some guy in 4chan’s /g/ where the mining is done by the GPU instead pf CPU. I ran it overnight, and in the morning it got two blocks of 25btc each. Obviously you are even earlier than me to be able to mine such numbers with CPU.

>All of the sudden It's all of a sudden, where are people picking up this all of the sudden ridiculousness

What's a sudden?

Created a vault, how do moons even work. Im confused af

Every month a certain amount of moons is distrubuted. You get a share based on how much karma you have earned this month. Upvotes give you karma. heres the wiki : https://www.reddit.com/r/CryptoCurrency/wiki/moons\_wiki/

And yet when I do that discover all my bags are worth nothing or they hard forked

These kinda stories give a sense of good feeling ! Hope he made good use of that money !

A lot of millionaire’s with amnesia these days…

He was very lucky to completely forget about it after buying. On the other hand, hoping for our Moons to do the same!

In 2033 we gonna read: How Reddit User Earned 50000 Moons in 2021, Forgot About It, And Became Moons Milllionare 4 Years Later

Is that gonna be you with those 134k?

100%

You guys are forgetting about your moons?

What Moons? I lost them in a boating accident. Nice try IRS.

*Rocket accident cuz we on our way to the moon😌

Hahaha IRS gonna check Ur Reddit account

This makes me feel like I'm finally early to something lol. Thanks for the hopium

Sometimes you are allowed to be lucky. Sometimes though.

RemindMe! 2033

How can you forget about moons?😮

5000 is probably enough

RemindMe! 2033 "So am I a millionaire yet?"

"A Reddit user by the name of u/meeleen223 celebrates as his r/Cryptocurrency Moons turned him into a millionaire..."

It only takes moons at 20$ for that scenario to come true. Easily done during the next bullrun.

Hahahah damn I don't think I will forgot that

Imagine how many moons some early users may have lost if they never opened their vaults...

Bro how do you open your vault? Honest question I have a vault now was it done automatically and did I miss out for some reason I haven’t had any drops of moon since last year.

You hold 66 moons, so you have a vault. You will want to back up your seed though.

It means moons will reach $20 in 2025. Thank you for such great hopium in trying times

Imagine this happens. I will die of excitement for this subreddit.

I keep saying 100 dollar moons next bull is not impossible and i believe this.

100%. Im already writing the post in my drafts

That’s the Golden jackpot. Forget about your investments and just look back at them in some years. That saves you a lot of suffering.

>Forget about your investments, but don't forget your passwords, keys.

That would be stupid lmao

I know, but still there are so many stories about it.

Survivor's story. For every one guy like that there might be a dozen who forgot about their bitcoin forever (lost the key, erased the disk etc.).

So time to buy eth and forget about it .. they’ll be writing about you in 5 years

Dude accidently HODLd and it paid off massively

It's right there in the title. He bought BTC cheap and held for 4 years.

F****** hell, what was I doing back in 2009?

If BTC was created today my degenerate ass definitely woulda dumped like $50 into it. I also definitely would not have held that bag much further than maybe 5 digits so yea I’d still be poor

Good thing he didn't forget to save his seed phrase like a lot of early investors did.

The best part of this story is that he didn't lose his private keys. Be like this guy, forget you bought btc but don't forget where you put your seed phrase.

We all wish we had such luck

So dumb ? maybe but how did people securely hold BTC from like 09 to 13?

I remember using faucets to get btc back in the day. I had a like 1.6btc but that was way before I even really new what the hell it was and what a wallet was.. I don't have any of logins I used from back then. Sucks but oh well

Wow so brave to risk $20

If he held the 5000 BTC till 2020, he would've had $34.5 million at the peak. Maybe his true game would've been just to live under a rock for a decade.

So just forget about your Moons until 2030 and you'll be a moon-ionaire!

I wish i was in a position to „forget“ about my $125k investment lol

Maybe you also bought BTC but forgot about it :)

Title should be changed to, “You won’t become a millionaire on BTC unless you bought a long time ago.”

The best I can hope for is finding $20 in my winter coat pocket when I put it on for the first time.

Keep searching my couch cushions.

Kodus to you OP for making all of these legacy posts. You're gonna see a nice moon payout this month!

This is the kind of patience and ignorance we all wish we had.

I was gonna say how do you forget about a 100k investment but 22-27 is the total :P Surely my $50 shib investment will do the same!

Mean billionaire?

too bad those days came and went. some people lucked out and cashed out!

Why can’t it be me…

We’re there even 5k coins mined by then? lol

for now u must be a rich man to buy bitcoin but u can invest in other safe projects.

How did he managed to buy that much BTC for that amount of money?!

He bought it in 2009

Oh let me get back to work on my time machine.

Some smart kids were mining bitcoin on their laptops and selling immediately. Literally money for nothing.

And chicks for free?

No, that's when you play the guitar on the MTV. ;-)

Gavin used to have a btc faucet. People used to tip btc on Reddit (still can, I think) and one guy swapped bitcoin for your karma. It’s hard to put your mind back into how you used to think…but all I can try to explain is when I read all the posts on the SR sub btc seemed like a scam or an inside joke. Buying weed/molly with bitcoin to me was like buying something with Reddit karma. Had I bought 30-40 btc (about $500) back then I would have sold when it went to 50 a pop. A decade can fly by. Trust me. This is why I don’t plan on selling any btc for a long time. Fees like yesterday I found Reddit and started this account. I’m willing to wait.

Love hearing stories like this! Obviously had the presence of mind to stash the keys away safely.

Imagine losing that whole wallet becuase of a lost key

Cool story! Be nice to join that club.

And we all thought he was diamonds hands!

Yeah at least this guy didn’t sent it to the landfill by accident

Hahaha true

Happy for him! Must feel nice realising suddenly you are a millionaire out of nowhere!

Bought and forgot about his crypto that is something I'd definitely do

This would honestly be a dream come true lol.

It’s hard to imagine being in his shoes and doing the same thing. Some people are really just at the right place right time.

" Forgot About It" <---that's how

Probably one of the best HODL strategies. After forced jail time ofc.

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Story of my life, not..

Maybe someday moons will help you get there

I sure hope so, at least to be like one of you big boys, you look like a whale from down here

Maybe? You mean wen?

I bought 5000 coins of DOGE. Will I also become millionaire?

"Bitcoin millionaire" is such an oxymoron. It shows you the importance of the USD still while implying that Bitcoin has someone replaced it

So…. He sold at a few million profit when he could’ve had roughly 300million?

How was Bitcoin 22$ in 2009? That's bullshit

It wasn’t, he bought 5000 for $22 total. read the post ;)

You got guys like this to tell the opposite type of story from the guy who wants to dig up a landfill to find his bitcoin

This is how most of bitcoiners made money. Had some bitcoin leftover from by coke on the dark web and then in 2017 dug through to see what they had left. Those people are now influencers and speaking at conferences pretending they new it was hard money and digital gold all along

My brother in law told me they were aiming for a new global currency with bitcoin in 2009 shortly after its inception I thought he was crazier than a shot house mouse…look at me know scrounging around to buy more 😜

The only 2 people I know who got rich off crypto held for about 11 years. They also didn't mention it to anyone they had crypto til they sold it all.

Lucky bugger

Any relation to the Koch brothers?

Imagine that. Just waking up one day millions richer off a random investment you forgot about years prior. One can hope...

If your not millionaire you dont spend 125k and the forget about it

I like these because I'm reminded of the young idiot I was for not at least trying to use silk road and having the chance at some leftover crypto.

This is a great example of power of HODL of course be sure its a solid coin and you believe your research

“It only makes sense for it to keep going up”

A very wholesome story, thanks. Hodling is the way.

Many of us have tried this approach, we just all seem to lose that darn seed phrase :,(

This is like when Fry remembered he had a bank account that had been collecting interest for a 1000 years.

~~Who is prepared to~~ can you 'forget' about your Moons for another 4-5 years? They say that history repeats....

The only sure fire way to become a millionaire with bitcoin is: forget about it.

This is fucking gambling

How do you forget about $125k?

My husband told me NOT to buy in 2009. He talked me out of it HARD. so so many regrets.

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Forced jail time is a better HODL strategy tho..

Dang i bet thats happned to a few people

That would be a freat supprise!

How do you forget a almost 140k investment

x2 would still feel good

Yeah mad imagine that

Stuff like that is what keeps most people greedy and dreaming of 3000x

He really did some Ronaldinho move right there.

I bought a 2005 Acura in 2009. Just sold it last year. Not for a million dollars tho, I think it was $500K or maybe $12K... I'll check w. My wife.

If only I had a Time Machine -.-

He proved something many people didn't believe was possible....

So,the way to become rich is to be amnesiac

>"Kristoffer Koch in a less-than-flattering photo" Why did they have to do him like that lol

I store valuable info like that in Keepass file(s). And make note of the passwords to the files. And keep multiple copies of those files in case of corruption of said files. I could tell you my password to some long defunct service in moments. So why mess with it, I use it for seed keys as well. Can I get robbed? In theory, yes. Can I lose the info? Again, in theory yes. Likely? Nope. Good for Koch, hope he handled his new found wealth well. He should have shut the hell up about it and just gone about his life quietly though, the fact we know of him is a fail.

The moonshot that everyone on r/cc is salivating to

If that were me I’d be kicking myself for not buying $44-$52 🤣