Many early domain name investors sold a name way too early or knew of someone else who was not going to pay for a domain registration back in the day.
Years ago I was talking to someone who was into domain names real early and he said a friend at one time was basically on a suicide watch.
He owned some great domain names when they were free. When registration fees were introduced he balked at paying them. The names were left to drop and registered by someone else. According to the person I spoke to some of the names were sold for big money, he let a fortune of millions just go down the drain.
I was reading a similar story today about early adoption and lost riches when it comes to Bitcoin.
CoinTelegraph published a story on a Finnish gentleman who had 55,000 Bitcoins back in 2009 as an early developer.
According to a Friday Twitter thread from the former Bitcoin (BTC) developer, Malmi mined roughly 55,000 coins between 2009 and 2010 when the price was almost zero. Malmi said that he ended up liquidating 5,050 BTC for $5 in October 2009, and losing 30,000 BTC through one of the first Bitcoin exchanges he ran when “there was no established exchange rate.”
Opportunity is one thing, having the ability to know what to hold and when to sell makes all the difference. When something is brand new that task is all the more difficult.
If you read the article on CoinTelegrah Malmi has a good attitude about it and says he has no regrets. (I am thinking maybe a little regret).
See the original post at: https://www.thedomains.com/2020/12/20/bitcoin-profits/?rand=13941
