The Guy who moved 80k BTC
Apparently, bros from 2014 are still moving and selling their BTC in 2025. It begs the question of how many BTC are still in the hands of people who purchased them in the early days.
Many wealthy people most likely have cryptocurrency locked away in wallets, and some of them may have forgotten the keys or are deceased. I believe that if every lost BTC is discovered, we will have more in circulation, on exchanges, and elsewhere, and many people could be financially free by now.
The news reported that a specific wallet transferred 80k BTC and was traced back to a tax evader arrested last year. Government agency hates tax evaders, and they're almost making sure that these people do not have assets in crypto.
It makes you wonder how someone in prison can move money. Wait a minute, if he was smart enough to hold BTC from 2014, he is probably smart enough to have someone move the BTC on his behalf. He is a classic example of a diamond hand, assuming he actually owned the 80k BTC that was transferred.
I find it shocking that an individual owns such an amount of crypto, although it wouldn't be as shocking if he bought it 11 years ago, because they'll probably be dirt cheap, and then held till now. We're all probably alarmed that 80K BTC is a lot, but it actually isn't, since it was bought a long time ago.
However, perhaps this guy is involved in another shady business, which is why he was arrested last year; perhaps the government discovered he had 80K BTC and was evading taxes. It is impossible to be wealthy and remain unknown. At the same time, it is concerning that they could track a wallet to him without KYC and all that.
Again, rich people who default or try to go against the law are always found out.
Trust me, the government always has a tech bro or a crypto guy; all they need to do is trace your wallet or check the patterns, and they will get it. 80k BTC is a large sum of money, and I probably do not want to start doing the math.
Let us ignore the fact that this man has tax issues with the government and instead focus on the fact that he was convicted for eleven years and held his hand for so long. Diamond hands are rare in this space, and before you start saying "ohh it is BTC and not altcoin," remember that person was selling 500 BTC back in the day to buy pizza, with no conviction or nothing.
Conviction is no child's play
It is like telling someone that Hive will be worth $50 in 9 years, and by then, they will have probably left with everything they own, perhaps pitched their tent in some other shiny tech with no substance, all in the name of looking for greener pastures.
There are no greener pastures anywhere, but in crypto we're mostly convinced there are, even though all we have to do is stay locked in and have conviction. The biggest crypto losers are those who sold BTC for pizza; while we can try to make excuses for their mistakes, ignorance cannot be used as an excuse; unfortunately, there are consequences for conviction.
I will probably have also sold BTC for BTC, which anyone can do, especially if it was back in 2014. In reality, conviction is difficult. If it were easy, crypto would have made everyone wealthy; however, it is not. I understand that this saying is already a cliche, but I do not believe we express it well enough. No one gets rich in crypto without discipline, doggedness and convictions, sadly it's probably Only 5% of people in crypto that'll truly get rich. This post is not really about the man who owned 80k BTC, but about having convictions for eleven years.
Interested in some more of my posts
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https://www.reddit.com/r/Crypto_Currency_News/comments/1lswly6/the_guy_who_moved_80k_btc/
This post has been shared on Reddit by @bhattg through the HivePosh initiative.
With the current politics on hive I dont think it will get to 9$ because too many red flags for major institutional investors
What are the red flags if I may ask? For all I know, every crypto outfit comes with its boogyman and skeleton, except maybe BTC with all the institutional money. Also if anyone is coming here to invest, they're not coming here to control, they're coming here to be "part of" lazypanda is an example
Hive is still kinda centralized and filled with so many rules
Well 11 years ago we had a whole different world, at that time if someone told you btc would go at 100k you would have laugh at them, crypto was just niche, I can't really blame anyone for selling at profit 10 years ago
Let's see where will be hive in 10 years, if we are still in this world 😅
You're right, I could have sold my BTC stash if I owned it 11 years ago. There was no conviction or trust and most of the OGs surely didn't know what they were doing, and most of the people who used their BTC to buy pizza missed out on generational and life-changing wealth. I think that's life in general, sometimes we lose opportunities because we didn't have enough knowledge.
Yeah, hopefully, God willing, we'd still be in this world
I think this is the simple secret for making it in crypto, having conviction across a long timeframe. Although, it's a hassle that the government is tracking this person, I think there will be ways to have the government off its track, definitely a smart folk who knows what they're doing. I mean, 11 years is really a lot lol, the patience to not touch it at all, especially during previous peak bull markets!
The person is a perfect example of a diamond hand, they held all through the many pumps and dumps. I think it's only a few people who can do that, and sometimes you need to be financially free to make such risky calls. However, who knows maybe this person has sold some (BTC) a while back and set up their lives.
80k BTC is a lot.
I wish he didn't have government issues. To hold on to crypto for 11 years is not a common thing.
About the BTC in deceased or forgotten wallets, I'm sure there are hackers somewhere farming them😂
Some BTC are already lost forever, especially those in cold wallets with dead owners. Yes, 80k is a lot, it's a proof that crypto has many wealthy people in real life.
It's a tough world, and I agree that only a few people truly get rich off of things. I still think cryptos such as Hive has a chance, but I think that there might be some changes required before it can pop.
Yeah, we need changes before anything can pop on Hive, most of my point is largely dependent on the idea that crypto rewards long-term holders, builders and believers
It will be disheartening if those that sold their BTC then turn back to see amount worth it is now. It all fall back to handing a diamond hands.. Just like now, Many people are selling hive regardless of the prizes instead of buying now. Honestly, many are on Crypto but few are rich...
Well, I don't blame sellers, profit taking is good, my point is that, no matter what, there is always going to be a consequence for not holding through trying and testing times.
One thing I have come to realize about crypto is timing and Time... Your timing might be Right, but not the best time..
Those that holds longer earn it more...
Good entry on BTC bro and you really did justice to the whole matter, the fact remain the rich will keep getting rich because they know their way out. And ignorance keep some people in one way, a little knowledge can make you go far in life. And is also good to have vision on things. Nobody ever belief, BTC can be this worth now. If we all had the vision then, 95% of pple will be successful now. But all the same, we keep moving
You've said it. If at least 95% of people in real life had the conviction and the capacity to have HODL mentality, then we'd barely have poor people in life.
Yeah you very right man
Sincerely, I just wonder how it's always easy when they say someone moved money and those people are not really doing it themselves. Probably they have eyes somewhere. This you shared made me remember when I first knew about cryptocurrency in 2012, and I had some amount of ETH, but then I gave it to my friend who knew it more than I do. If I had held onto it, it would have been a better one by now. I also love how the governments were able to track that massive transfer, and this shows that anonymity in crypto isn't absolute.
Well that Eth would be worth more, maybe decent enough to set up something tangible for you. However, that's the crypto life, we regret and move on, it's how it is, and that's how it's going to be. We only hope for more opportunities
You get it right. But I just keep hoping better days will surely come.
I wonder if this guy was surprised to see this traced back to him so quickly. There is something else different compared to 2014. Looks like tracing become so good that any significant amount of crypto moved is automatically analyzed. I have my doubts that privacy coins are really... private to the "right" eyes.
I think they've must've somehow traced his wallet. Since Blockchains are like open ledgers, I guess they just had to attach or identity which wallets were his. There's always one geeky tech bro that can always do this for the government