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Sold 57 Bitcoins For Peanuts In 2012, And Luckily Found More BTC In 2020

Early Bitcoiners used Bitcoin for many real world transactions like 10,000 BTC for 2 pizzas, 57 BTC for some peanuts, 0.5 BTC for a pound of honey, etc. Without such real world trades, Bitcoin would not have appreciated its value along the time. We need to respect such early contributions.

In this article, we are covering the story of a redditor 0RespectMyAuthority0 who sold 57 Bitcoins for peanuts in 2012.Those 57 Bitcoins now worth more than half a million dollar. However, this story does not end here. He posted on reddit yesterday that he has found 2.0002 BTC in his old USB drive.

This story is very important because it teaches us important lesson to keep cryptocurrencies in cold storage. If he had kept those 2 Bitcoins in HOT wallets (online based wallet), he would have lost those Bitcoins coming from 2012. He kept his wallet details backed up in external storage. That might have taken him 5 minutes and some 10$ for USB but now that have saved him almost $20,000.

Never forget to keep your Bitcoins in cold wallet. “Not your keys, Not your coins”.

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Krishna
Krishna is an initial CDT member of RECAP blockchain network; a crypto enthusiast who has worked on multiple startups since 2013.
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