He Mined 55,000 Bitcoins Almost for Free in 2009: The “almost billionaire” Tells his Story

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A Life Lesson on HODL  – Stories of early Bitcoin adoption (BTC) don’t always end as well. In this case, one of the first fans and miner of the Bitcoin network sold very early on what would constitute a real fortune today.

5,050 BTC for… 5 dollars!

Martti Malmi, also known by the pseudonym  Sirius, has been a  developer of Bitcoin from the early years of this young decentralized network created by Satoshi Nakamoto.

On his Twitter account  (@marttimalmi ), this early Bitcoin fan explains that he could have held the current equivalent of nearly  $ 1.3 billion  in BTC today … if only he hadn’t sold!

“I’d be a *billionaire* now if I hadn’t sold the 55,000 bitcoins I mined on my laptop in 2009-2010 way too early (mostly before 2012). That is regretful, but then again, with the early bitcoiners we set in motion something greater than personal gain.”


It’s hard to believe in the current context where a single bitcoin is now worth more than $ 23,000, but Martti Malmi explains in particular that he sold  5,050 BTC for $ 5  in October 2009.

Bitcoin still managed to change his life

Rest assured, if not making it a billionaire, Bitcoin still allowed its developer to afford some material goods, in addition to the moral reward of having helped build this incredible network.

When BTC hit a  “super” peak between $ 15 and $ 30 per  unit in 2011, Martti Malmi explains:

In 2011 when the exchange rate peaked at $15-$30, I sold over 10,000 BTC to buy a fairly comfortable studio apartment near Helsinki. Big deal for a 22-year-old who never had much money. Probably the most expensive studio in the world now, but at least I got more than 2 pizzas.

Even if it is easy to say today, with the ease of hindsight, that it would have been better to wait, it is the proof that Bitcoin had from that time the strange power to upset lives.

By way of conclusion, here is  the philosophy  this genius developer draws from it:

“Some lessons learned: 1) Money matters: more is always better than less. 2) Still, you don’t need to be rich to lead a perfectly good life. It’s about the basic things. 3) You don’t live forever. Pursuing something greater than yourself brings meaning in life. Thank you, Satoshi and others who have made Bitcoin what it is today. May it bring peace and prosperity to the world. Long live Bitcoin.”

What more can we say, except that HODL at all costs should not necessarily deprive us of using Bitcoin to improve our lives today, if only for small daily pleasures. The price of BTC may rise higher, but the bottom line is ultimately that it helps us to be happy and more serene in the future when possible!

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Ethan Hunt

Bitcoin Maximalist and Toxic to our banking and monetary system. Separation of money and state is necessary just like the separation of religion and state in the past.

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