TheCryptoDegen

Bitcoin had a feature in 2009 so dangerous Satoshi himself deleted it after one user pointed it out

In the original version of Bitcoin you could send coins directly to someone's IP address

There was no wallet address needed and even worse, your computer would connect to theirs to send the coins through

That meant anyone could see your IP, locate your machine and try to attack it just by sending you Bitcoin

On January 14, 2009 Satoshi decided to test it himself and emailed an early miner named Dustin Trammell asking for his IP

Trammell replied and actually sent it to him

A few minutes later Satoshi connected and sent him 25 BTC with a message that said "Hello"

Trammell answered him with a warning that the feature was insecure and within weeks Satoshi deleted it from Bitcoin entirely

Those 25 BTC would be worth $1.86 million today

Malaysia lost $1.1 BILLION worth of electricity to illegal Bitcoin miners

The miners wire themselves straight into the grid or rig the meters so the power they burn never shows up on a bill

Around 14,000 illegal mining sites were caught doing it, together stealing enough electricity to run 560,000 homes for a year

The operations hide in abandoned houses, rented warehouses, even an unfinished shopping mall, sealed behind heat shields and soundproofing

Some play looping recordings of bird sounds to cover the fan noise and neighbors calling about the strange birds is how police keep finding them

Malaysia now hunts them with thermal drones scanning rooftops for heat, while software checks millions of power meters a day looking for electricity that never turns off

More than 75,000 rigs were seized in over 3,000 raids since 2022, with 629 arrests and police have even crushed the confiscated machines with steamrollers

The rigs keep coming back because the math behind them is absurd

Mining one Bitcoin at household electricity rates costs about $1,320 in Iran, around $102,000 in the US and up to $321,000 in Ireland

With Bitcoin trading near $62,000, mining at home in most of the West means losing money on every coin

Stolen power drops the cost to zero and turns every coin into pure profit

The most profitable mining farm on earth is the one that never gets a bill

On this day in history, 16 years ago, Satoshi Nakamoto wrote, “When someone tries to buy all the world's supply of a scarce asset, the more they buy the higher the price goes…it gets too expensive for them to buy any more…some people keep holding out…and refuse to sell”

A tax agency once lost $4.8 MILLION because it accidentally published the private keys in a press release

On February 26 the South Korean National Tax Service wrapped up an enforcement against 124 high value tax delinquents, walking away with 8.1 billion won in seized crypto

The agency then published a press release showcasing the confiscated assets.

Among the photos were the seized Ledger hardware wallets with the handwritten seed phrases sitting right next to them. Within hours, one of the exposed wallets was drained

On chain data shows the thief first deposited a small amount of ETH to cover gas fees, then moved 4 million PRTG tokens worth $4.8 million to a fresh address in three transactions

A blockchain professor at Hansung University traced the transactions and called the leak "an advertisement inviting people to take your money"

The NTS deleted the press release, but the pattern around it is even worse

In January, prosecutors in Gwangju lost over $48 million in seized Bitcoin to phishing

A month later a Seoul police station discovered 22 Bitcoin seized back in 2021 had vanished from a cold wallet, because the suspects kept a copy of the recovery phrase and simply took the evidence back

Three crypto custody failures in two months involving more than $50 million in seized assets

Seoul's answer was a national audit of every government held wallet and a plan to hand seized crypto to private custodians, an admission that the state cannot even keep its own funds safe

Bitcoin just touched the 200-week MA again.📉
Nobody knows if this is THE bottom...
But history shows:
🔵Blue zones are the BEST buying opportunities
🔵They ALWAYS touch the 200W MA
🔵They go up:
~$250 → ~$4k
~$4k → ~$20k
~$20k → ~$60k
Interesting times ahead!👀

On this day in history, 16 years ago, Satoshi Nakamoto: “Bitcoin’s total circulation is limited to 21 million coins. The coins are gradually released to the network’s nodes based on the CPU power they contribute, so you can get a share of them by contributing your ideal CPU time”

On this day in history, 15 years ago, Brian Armstrong published code for one of the very earliest open-source mobile Bitcoin wallets available to Android smartphones.

One year later, Brian would found Coinbase, now today the largest Bitcoin exchange in America.

Bitcoin will likely bottom BELOW Realized Price (~$53k), just like it did in EVERY previous bear market.

Right now the grey Realized Price line has been glued to the black 200-week Geometric MA line since 2023.

Bitcoin began as one network, but different views about its rules led to new ‘forks’ of code. These copies became separate blockchains. The original chain is by far the most valuable to this day, despite many attempts to change. Here is the version history of Bitcoin projects:

On this day in history, 16 years ago, nobody knew if Apple would approve the first bitcoin wallet app. Satoshi Nakamoto questioned the idea and wrote: “It could always be an Android app instead. An app is not really necessary though, just a mobile sized website.”

On this day in history, 16 years ago, Bitcoin survived its first documented network attack when IRC bans stopped computer nodes finding each other. The solution let nodes find others and sync the blockchain without IRC, making Bitcoin more resilient and harder to stop forever.

On this day in history, 16 years ago, Bitcoin survived its first documented network attack when IRC bans stopped computer nodes finding each other. The solution let nodes find others and sync the blockchain without IRC, making Bitcoin more resilient and harder to stop forever.

On this day in history, 9 years ago, the Bitcoin symbol (₿) was officially added to Unicode library.

This important moment established bitcoin as a currency symbol alongside the US Dollar ($), Euro (€), and others. Anyone can send a (₿) through text messages and posts.

On this day in history, 16 years ago, Satoshi Nakamoto wrote: “The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime.”

Bitcoin just broke $67,000, up $3,400 since the US-Iran peace deal.

On this day in history, 16 years ago, a developer created a website giving away 5 bitcoin for free to anyone, anywhere. The ‘faucet’ only required a user to complete CAPTCHA, verifying you were not a bot, and distributed 19,700 bitcoin in total, worth more than $1 billion today.

can relate 😂😂

On this day in history, 13 years ago, a baby was born through the world’s first documented fertility treatment ever paid for using bitcoin.

THESE 3 WHALES JUST BOUGHT $100M OF ETH

3 whale addresses (2 of these being fresh addresses) just withdrew a total of $122.29M ETH from FalconX and Kraken.

The address that bought ETH previously, is currently down $9.1M on its past buy. Is this Tom Lee?

So many people wanted Bitcoin at $120,000+, but today nobody wants Bitcoin at $61,000