Original | Odaily Planet Daily ( @OdailyChina )
Author: Wenser ( @wenser 2010 )
There is no shortage of investment miracles in the crypto world, especially in the only true god - BTC, where countless stories of wealth creation have been played out on early BTC holders. And BTC, known as digital gold, has gradually reached a price position equivalent to one kilogram of gold.
Legend has it that in May this year, a Bitcoin forum user named John Galt claimed that he spent $500 in 2012 to buy a physical BTC shaped like a gold bar, which carried 100 BTC assets, and successfully exchanged it for $10 million in May this year. Countless people thought this was another physical BTC joke, but after careful verification, many people found that it was true.
In this article, Odaily Planet Daily will tell the story of this investment miracle of 20,000 times return in 13 years.
A forum post led to a 20,000-fold investment miracle that took 13 years
In May of this year, a post titled A Sad Day for Physical Bitcoin Collectors on the Bitcoin forum bitcointalk attracted a large number of forum users.
John Galt posted:
Yes, remember I mentioned earlier that I had a Casascius Bitcoin Stick? Yep, that was a 100 BTC one, and I got it for about $500 back in 2012 or so. I started getting really nervous when Bitcoin was over $10,000 a few years ago. I mean, holding over a million dollars worth of something? That was too stressful.
But I dont want to redeem it.
To me, a physical Bitcoin that has not been redeemed feels more valuable than money itself.
I did try to sell it a few times, but its hard to sell something so valuable, and you cant really trust anyone. I also considered auctioning it, but I would have gotten much less than the Bitcoin itself is worth. Now that its worth over $101,000, I knew I couldnt just leave it there. So yeah...even though I was a little unsure, I finally redeemed it today.
Transaction hash link:https://mempool.space/tx/118d50e57eedbdc37e55edd176b49fb561d2df45d16ac7aabb1365b66d100d43 .
sorry.
The words are full of guilt and regret of Bitcoin loyalists who have to choose between BTC and huge wealth, but between a physical gold bar that is only commemorative and $10 million, I believe ordinary people can make a more appropriate choice.
Since then, an investment miracle that has been hidden for 13 years has finally been officially revealed to the world. In todays increasingly solidified traditional financial field, only BTC holders can have such a great fortune. 13 years, $500, $10 million, three numbers together constitute this crypto miracle.
Casascius Physical Bitcoin: A short-lived attempt at “physical BTC” and a crazy spectacle of wealth creation
It is understood that the Casascius physical bitcoin mentioned by the user named John Galt on the Bitcoin forum bitcointalk is indeed real.
The project was launched in 2011 by Mike Caldwell, an early Bitcoin evangelist. It encapsulates the private key of Bitcoin in a coin or gold bar through a physical sticker. These physical Bitcoins were once very popular, but due to regulatory pressure, Casascius stopped producing embedded real Bitcoin private keys in 2013. Now these physical BTCs are more like rare collectibles with commemorative significance in the history of encryption for more than a decade.
Physical BTC pictures
According to data from casasciustracker.com , as of May this year, this former reverse RWA crypto project has redeemed about 10,000 Casascius coins, and there are still more than 18,000 coins in a dormant state.
One physical BTC coin or gold bar makes you a multimillionaire
It can be said that anyone who spent $500 to buy 1 physical BTC (whether it is a coin or a gold bar) would have received a return of about $10 million if he had held it until now. And there are nearly 18,000 wealthy people with such wealth who have not yet been discovered, or have long disappeared in the corners of history, just like the British programmer who lost the computer hard drive containing the private keys of 7,500 bitcoins.
By the way, Mike Caldwell is also an active user of the Bitcoin forum. His username is Casascius, which means straight talk. In addition, he is also an explorer who buried a Bitcoin paper wallet when he reached the North Pole in 2013, symbolically bringing Bitcoin to the end of the earth.
In addition, after John Galt revealed that he held 100 BTC and had redeemed the corresponding assets, a user on the Bitcoin forum immediately used his abandoned private key to steal the BCH tokens owned by the early BTC holding address, which was worth more than $40,000. After being reminded by someone, John Galt realized that he was one step behind, but his speech was quite calm. After all, compared with $40,000, getting $10 million was enough to satisfy him.
John Galt keeps calm
In addition, according to the tracing of crypto KOL @0x Todd, these so-called physical BTC coins or gold bars are most likely alloy + gold plating, not physical gold.
Credit: 0x Todd
Finally, overall, this is an inspirational story of rewarding BTC Diamond Hands, a miracle of wealth with a return rate of more than 20,000 times. The protagonist has not changed, it is still the BTC created by the mysterious man Satoshi Nakamoto, which is honored as digital gold and has an upper limit of only 21 million pieces.
