Litecoin is one of the first open-source altcoins based on the original Bitcoin code. It was initially a strong competitor to the first cryptocurrency. However, as the cryptocurrency market expanded, Litecoin’s popularity gradually declined.
Ten-year crypto assets worth millions of dollars
A former bitcoin miner has discovered a forgotten multi-million dollar fortune. In 2010, when the block reward was still 50 bitcoins, and mining was still possible with the help of video cards (GPU), an anonymous miner mined at least 1000 BTC and for unknown reasons left a wallet with untold wealth.
Almost 10 years later, an anonymous miner on the BitcoinTalk forum created a topic with the literal title "Newbie returns after a long break", in which he asked the question: how to move BTC and BCH for sale.
From posts on the forum, it became known that the miner discovered a wallet with coins that he mined back in 2010. He also wrote that he mined “some bitcoins” when it was still possible with the help of the GPU. After that, the forum participants gave the miner some advice on how to do this. Literally the next day, 1K BTC coins, which had not moved on the network since August 2010, went into motion.
An unfortunate fact for anonymous is that he discovered the find on the eve of the market collapse, just before bitcoin marked its historical minimum (-51% per day). But even at that time, the state of the found coins was about 8 million dollars. After just a couple of days, the cost of the incredible find fell to a little over $ 5 million, but the bitcoins never went on sale, which suggests that the anonymous person decided to temporarily hold the found treasure until better times.
It remains only to guess what kind of fortune could have been obtained if this discovery had occurred in December 2017, when the bitcoin exchange rate crossed the mark of 20K dollars per coin. It also remains only to guess whether the owner of this state will wait for the next "indigenous" bitcoin, or will start withdrawing fiat right now.
It is less and less possible to observe the movement of a significant number of bitcoin coins mined in the early years, when mining was almost mainstream. As of January 2020, out of the 18.14 million BTC mined, almost 60% did not move, namely 11 million bitcoins did not move from their addresses in 2019. Accordingly, the remaining 40% participated on the market. Therefore, the movement of so many coins with such a long idle period could not go unnoticed. To a direct question whether a certain "anonymous" is related to these transactions, the newcomer did not answer. One of the forum participants wrote that some of these bitcoins ended up on the Coinbase exchange.
Among the tips was also a mention that an anonymous person can also receive BSV for their bitcoins. The fact that the miner did not mention that he had BCH fork coins most likely indicates that the newcomer has indeed not been a participant in the cryptocurrency market for many years and is not aware of many events in this industry.
“Thank you all for the suggestions. All in all, it was a great comeback and the best welcome you can get!”, — anonymous wrote in conclusion to his posts on the forum.
Recall that the first Friday of the 13th (March) in 2020 became really unlucky for cryptocurrency and stock exchanges. The collapse of the main cryptocurrency provoked the fall of the entire market on all forks. As of March 20, 2020, the hashrate of the Bitcoin network fell to 82.285 EH/s.
