Bitcoin (BTC) Veteran Reveals Why He Almost Sold His Bitcoin (BTC) in 2012

News
Thu, 05/21/2020 - 13:15
Vladislav Sopov

Every trader knows the painful feeling of panic that often results in emotionally-driven sell-offs. A Bitcoin (BTC) expert since 2012, George Mandrik, tells his story

Cover image via stock.adobe.com
Contents

George Mandrik is a Bitcoin (BTC) pioneer and a former engineer on Charlie Shrem’s Bitinstant crypto exchange. While Mr. Mandrik is experiencing some excitement from the ‘Satoshi funds’ move, he has recalled a nostalgic story of one failed sell-off.

Bitcointalk may confuse

According to Mr. Mandrik, he was very close to a panic sell-off in 2012. A suspicious link was published in one of the Bitcointalk threads.

This thread was linked to a site that allegedly listed every private key. Had this been true, every Bitcoin (BTC) wallet would have been exposed to an ingenious hack since a private key is all a malefactor needs to access a user’s funds.

Eight years ago the Bitcoin (BTC) community was tiny and the existence of such a list was possible in terms of data storage. That’s why even Bitcoin (BTC) expert George Mandrik was confused.

However, he decided to look at peoples’ reactions to this strange announcement and it paid off.

Where’s the trick?

It’s kind of fun, but this site is still around today. And it really contains every private key for Bitcoin (BTC) and Ethereum (ETH).

Every key is procedurally generated on the fly when a page is opened. So, you can just get a random Bitcoin (BTC) or Ethereum (ETH) key for fun.

The project accepts donations and is non-profit.

Mr. Mandrik ironically summarized his trading story as: 

Living the highs and lows is how a boy becomes a man

Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Top 10 Best Cloud Mining Sites in 2020
TOP 20 Best Bitcoin Trading Bots in 2020

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy