This question comes up a lot when people find Bitcoin wallets that haven’t been touched in nearly a decade and have millions of dollars worth of the token associated to them. Is someone just being incredibly patient?
Or lost their wallet/password
I lost a Bitcoin wallet with ~50BTC back when it was priced at pennies. I was so young then. Oh well.
Re:Google Will Eat Itself (2005)
by MikeHolman on Friday July 31, 2020 @02:16PM
(#24011742)
I think even more, since there was a stock split since then (share price is dated at 2005).
Wow, that would be over 2.5M$ so yeah. Interesting question indeed.
Some people will save and invest for 40 years until they retire.
Yes, but in my experience its a spectrum. From 'always save' to 'always spend.'
One of the more interesting times of my life so far was during the dot com bubble because I got to see a lot of people suddenly feel like they had more money than they ever imagined they would. I observed that the response was always uniquely personal. From a friend who bought 737 jet, only to file bankruptcy a year later, to folks who converted things to bonds and other assets and otherwise didn't change all that much, to people who lived a life of inconvenience only to have their family inherit a huge chunk of wealth when they died.
I suspect that it would be difficult, if not impossible, to predict how someone would actually respond.
There is an interesting question here of how much money is someone willing to let "sit there" which is growing slowly vs taking it and doing something with it.