On a very popular online forum site among the Bitcoin community, it turned out that in 2010, a user put up 10 thousand Bitcoins (BTC) for sale through auction. The past share of the user, who started the auction at $ 50 for 10 thousand Bitcoins, attracted a lot of attention when it was noticed recently.
Bitcointalk.org is a well-known platform among the Bitcoin community as an online forum site. Another story that recently surfaced was noticed on the platform, which has hosted various Bitcoin stories in the past. An account with the username SomeTooMuch shared a post in 2010 and auctioned 10 thousand BTC for $ 50. In the comments that came to the user’s post years later, the event was compared to the Laszlo Hanyecz incident, who bought 2 boxes of pizza with 10 thousand BTC.
10 thousand Bitcoins were worth only $ 65.5
SmokeTooMuch announced on March 30, 2010 that it wanted to auction 10,000 BTC at $ 50 by sharing a new post on the platform called Bitcointalk. The user, understood to be living in Germany from his post, introduced the auction as follows:
“I want to do a little experiment.
I want to auction 10,000 BTC. The starting price is $ 50.
(10 thousand BTC, currently equivalent to $ 65.5.)
The auction will take a full seven days.
… There is only one condition: Each bid will be at least $ 1 more than the previous bid.
After the auction is over, I will text the person who sent the highest bid and first send 5,000 BTC to him. Then I will send the remaining 5 thousand BTC after that person deposits the price he has offered to my PayPal account.
The user explained that the purpose of sending 10 thousand BTC in pieces is to protect himself from any deception.
“People are uninterested in how they can accept Bitcoin”
Hours after the auction post by SmokeTooMuch was published, the post received the first reply from another user. The user named dwdollar wanted to buy Bitcoins on sale at $ 20, even though he knew it was below the auction price.
SmokeTooMuch left dwdollar’s offer unanswered, but did not miss to respond to PayPal’s comment the day after I posted. One user said, “Transactions on PayPal are not anonymous, so there are many users who don’t choose to use it. You might consider getting the money by mail. ” shared a comment in the form. SmokeTooMuch disagreed with this interpretation, saying that such an operation could be expensive and continued as follows:
“I think people are uninterested in how they can accept Bitcoin, not how they will pay.”
“10 thousand BTC would be worth a lot of money today”
As stated in his first post, SmokeTooMuch shared another post on the subject he opened on April 7, 2010, “The auction has ended.” said. Stating that the Bitcoins will not change hands because no one bought it, SmokeTooMuch’s 10 thousand Bitcoins remained with him.
The first comment to the post after April 7, 2010 was on April 25, 2011. A user named Fiasco could not hide his astonishment by likening the incident to the Laszlo Hanyecz incident. But the job was made even more fun when a user named SmokeTooMuch, who started the auction in 2010, posted again on February 24, 2012.
SmokeTooMuch, in his 2012 post, announced that no one was interested in the auction that year, confirming that 10 thousand Bitcoins did not change hands. For when he was auctioned, “Those were the old days.” said SmokeTooMuch, continued:
“10 thousand BTC would be worth a lot of money today (in 2012).”
How much would it be worth?
SomeTooMuch commented that “it would cost a lot of money” in February 2012. In the light of the data here, if it is taken as a basis that Bitcoin was equivalent to approximately 5 thousand dollars at that time, it can be calculated that 10 thousand BTCs were approximately 50 million dollars. Based on the current price of Bitcoin (18 thousand dollars), this amount reaches 180 million dollars. Let us remind you once again that the same bitcoin cost 65.5 dollars during the auction.