When Satoshi Mined Bitcoin, It Was Cheaper Than a Night Out! 🎉💰

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Oh, the tales of yesteryear! Charles Hoskinson, the ever-so-charming founder of Cardano, has recently regaled us with a delightful estimation. The enigmatic Satoshi Nakamoto, the brainchild behind the illustrious Bitcoin, apparently paid a mere pittance—less than $3,700 in total—for the electricity to mine a staggering 1 million BTC. Can you imagine? It’s cheaper than a night out in Mayfair! 🥂

Hoskinson, in his infinite wisdom, shared three distinct scenarios, each more intriguing than the last, detailing the potential electricity costs for our elusive friend Satoshi during the halcyon days of 2009–2010. A time when mining difficulty was as low as a teetotaler’s alcohol intake, competition was as scarce as a decent martini in a pub, and CPU mining was the norm. 🍸

The scenarios, as presented, are a veritable smorgasbord of possibilities. From a single, modest mining rig using a mere 190 watts of electricity, operating 75% of the time over 485 days (a setup that would cost a paltry $191), to a more robust cluster of machines, which would bump the cost to a still-affordable $575 in the U.S. and a slightly more extravagant $1,000 overseas. 🌍

However, if Satoshi felt the need to keep up with the Joneses and maintain a competitive edge, the cost could have risen to the princely sum of $3,700. But, my dear, when you’re on your way to becoming one of the richest people in the world, what’s a few thousand dollars more or less? 🤑

As reported by U.Today, the elusive Nakamoto, whose true identity remains shrouded in mystery, has now surpassed the likes of Bill Gates in terms of net worth, with an estimated fortune approaching $120 billion. It’s enough to make one’s head spin! 🌀

In other news, Ripple’s CTO, David Schwartz, has revealed that he holds a total of 250 Bitcoins (BTC), which he acquired when the cryptocurrency was trading at a mere $30. A true visionary, one might say. 🌟

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2025-07-06 13:49