There are stories in the cryptocurrency circle from time to time, which may be true or just bragging.
A few days ago, all the communities were drooling over a rich dad who found the BTC wallet he bought in 2015. He bought 4,000 BTC at that time, which is $270 million according to today's price, making him a billionaire.
In 2015, the lowest price of BTC was $210 and the highest was $500. If you bought at the lowest point, you would have invested $840,000.
Investing $840,000 in the crypto market at one time is not something an ordinary father can do.
It turns out that he is someone else’s rich dad!
The next day it was confirmed that the 4,000 BTC was just a joke. There were indeed wallets with similar assets on the chain, all created around 2011, and not belonging to this rich dad.
Of course, this also reflects everyone's good wishes, holding on to the money and waiting for the perfect result of a full moon.
This wallet address with a balance of 4,000 BTC was marked in 2020. The secret key was lost and only the wallet file was left. Anyone can import the wallet to display the balance, but there is no transfer operation permission.
For the entire cryptocurrency, once the wallet mnemonic or private key is lost, the wallet will be lost forever and cannot be recovered. Even if Satoshi Nakamoto reappears, he can do nothing about it.
This is the decentralized and tamper-proof nature of the Bitcoin network.
The total amount of BTC is 21 million, and the current circulation is only more than 19 million;
For some wallets that have lost their secret keys or forgotten their mnemonics, the balance will be permanently sealed on the chain and cannot be opened.
The mnemonic phrase for a Bitcoin wallet consists of 12 or 24 words, and the vocabulary has a total of 2048 words. If you want to manually match the correct mnemonic phrase to open the wallet, the probability is one of 2048 to the power of 12 or 24, both of which are infinite numbers.
Some services claiming to be able to match mnemonics and provide targeted training or services to open a certain wallet are basically scams. It is impossible to find a wallet mnemonics manually.
The total amount of BTC is limited. Some people use BTC as a way to preserve value and store wealth. BTC always seems very expensive.
Recently, two new members joined the circle and prepared 100wu and 1wu respectively to enter the market.
The 100wu group members plan to invest 40% in ETH and SOL respectively, and the remaining 20% in PEPE, and then uninstall the account and see how much is left after a year;
When asked why they didn’t consider BTC, the answer was that BTC was too expensive.
Friends in the 1wu group plan to go for Tugou or MEME, hoping to encounter a chance of 10x or 100x;
When asked why he didn't choose BTC, he said BTC was too expensive. Even if it doubled, it would only be 2 or 3 times at most. It was too difficult to turn 1wu into 10wu by relying on BTC.
At any time, there are people who think that BTC is too expensive, whether it was $10k five years ago or $68k now;
It is impossible to predict what the price will be like today next year, but at least it won’t drop to zero all of a sudden.
There are many ways to pursue balance growth. Some people choose BTC, while others give up BTC. No one can say for sure which way is better. They are all based on different cognitions, investment habits, and available funds.
Buffett once said that few people are willing to become rich slowly, most people just want to make a quick profit.
Most people will not have the opportunity to become rich overnight, but the cost of trial and error may be reduced to zero overnight.
Only a very small number of people can make huge profits through MEME or contracts and leave the market smoothly. Most people make money by luck, but eventually lose it by their own strength.
For example, the top 100 richest people on the BTC wallet list. Some people’s behavior in their early years made them on the list today. What can we do today to make it a topic of discussion in 5 or 10 years?
Sometimes slow is fast, and the amount of wealth that each person can earn in his lifetime is predetermined;
Earn what you can earn, don’t be overly FOMO, and maybe you can outperform most projects by holding BTC.
The above is just my personal opinion, not investment advice. I am Chu Xiaolian, and I am paying attention to the crypto market and web3.
