These are all youtube videos created between 2011-2015 and contain the idea of Bitcoin back from this era. The early investors, the darknet users of Silk Road, the entrepreneurs that were devastated from the banking crisis of 2008, the radicals, and the ideologists.
We can't consider everyone that knew about Bitcoin in 2010 as lucky, or that they must have made millions so far. Most people have needs, have bills to pay, want to offer to their kids and family, and at some point, everyone has to sell. Some people decided not to sell everything though, and they were rewarded way more. Still, no one can blame himself for selling in 2011 or 2012. It is a long term game, but not taking profits is financially irrational.
I write this because people that don't know how hard this is, they think it was easy to hold and somehow stupid to sell back then. It was nothing like that. Noone knew or believed prices will reach $1K or $10K after a few years. People have needs and when there is life-changing money at stake decisions are not easy.
Anyway, with this article, I'd like to present five of the most interesting videos I've found from this era which still haven't been removed by the uploaders on youtube. (many have been removed).
We start with:
Number 5: What is Bitcoin? - 2011
- Uploader: Weusecoins
- Video Title: What is Bitcoin? (v1)
- Upload date: March 22nd, 2011
- Bitcoin price: $0.76
Perhaps the first Bitcoin explanatory video on youtube. It is an informative video that explains everything a beginner needs to know. Perhaps we watched it back then and skipped it, thinking that this is some scam to take our national fiat money!
This video makes a great point and advertises Bitcoin as a digital currency that is decentralized and can be transferred without the need of a third party authorizing the transactions. It is a great promotional video and I think that I remember watching it back when I started looking into Bitcoin.
Number 4: Cyprus Anthem - 2013
- Uploader: ZhouTonged
- Video Title: Zhou Tonged - Cyprus Anthem (Swedish House Mafia - Don't You Worry Child)
- Upload date: May 5th, 2013
- Bitcoin price: $98.77
It was the time Cyprus simple people had to pay with austerity for the failures of the EU leadership, after Greece (losing 25% of its GDP) and other countries bound by the euro as Portugal and Spain getting devastated by the Luxembourg mafia and the huge European banking cartels sucking the blood of the population of the entire continent. What happened in Cyprus was a disaster, levying people's money and creating terrible economic conditions, all by the demand of the EU. There are similarities to what is happening in Lebanon today. The same useless corrupted bankocracy that runs Europe demands the simple people to pay for their mistakes.
The reason Bitcoin was created was never more obvious:
Number 3: Bitcoin Mining Rig - 2011
- Uploader: diversionhobbies
- Video Title: Bitcoin Mining Rig - 24 Machine Setup - 48Gh
- Upload date: June 4th, 2011
- Bitcoin price: ~$10.00
A short clip by an early miner from 2011, running a cluster of 24 PC boxes mining Bitcoin with Radeon 5970 GPU's, producing 48 Gigahash for the Bitcoin network.
Some historic information on Bitcoin GPU mining:
Laszlo Hanyecz, who is famous for his 10,000 BTC Pizza, was also the first one to create scripts for Bitcoin GPU mining. (bitcointalk post).
Laszlo later explained that Satoshi wasn't too happy with that and emailed him asking not to proceed with this as he was afraid of a 51% attack and he feared the project might suffer severe difficulties if the blockchain was proven easily compromised. Also, Bitcoin was enjoying rising popularity as more people were getting in it and producing Bitcoins with their desktop and laptops. A GPU script would mean that hash rate would explode and Satoshi knew that mining eventually would turn into a huge industry (one that still can grow hundreds of times more). He wanted things to have a slow pace at that time.
Number 2: The slaying of a bearwhale - 2014
- Re-Uploader: WhaleBearPig
- Original Title: The slaying of bearwhale!
- Original Upload date: October 7th, 2014
- Bitcoin price: $300.00
This is a re-upload by a different user. The original was removed by the uploader and I don't remember who it was.
This is an inspirational video that created history. What happened here though? During a time when Bitcoin was trading at $330 back in 2014, a whale created a 30K Bitcoin sell wall on Bitstamp exchange. It took the whale 6 hours to completely offload his stack of Bitcoins at a price 10% lower than what Bitcoin was trading at the moment.
I don't know who was buying but the facts are that the day was Monday, a day when banks process wire transfers for several days. This is a hint by the way why we usually see small pumps at the beginning of each week, although lately there are many methods available to buy with debit cards and apps. So it coincided with the wire-transfers processing and deposits of funds in exchanges. This created extreme buying pressure as Bitcoin was sold at what was seen as a bargain (10% off the current price). There was no one else selling either so the bulls crashed the sell wall and price recovered after the selling spree ended with the whale completely exiting the crypto market.
The Slaying of a BearWhale
This whale is a cool guy if you ask me, and probably this is the reason the original uploader removed the video from youtube. I remember it having more than 100K views back in 2017. He rebought back in 2017 and made this Reddit post explaining his reasoning.
Basically, he bought his Bitcoins at $8 and sold at $300 making a profit of around 10 million USD. So it wasn't a bad deal at all. The reasons he sold though were not just about the money.
Number 1: Don't Buy Bitcoin. It's Going To Crash!!! - 2015
- Uploader: Alex Millar
- Video Title: Don't Buy Bitcoin. It's Going To Crash!!!
- Original Upload date: June 26th, 2015
- Bitcoin price: $242.85
Alex Milar says it all. Almost two years after Bitcoins ATH for the time ($1200) the price wasn't recovering and every mainstream media was covering Bitcoin as a failure and a project that was dead. Alex Milar agreed and decides to talk about the dangers of buying Bitcoin, advising everyone not to buy Bitcoin as we know it's going to crash.
We must add another time when Bitcoin went all the way to $20,000 and then crashed all the way down to $3,000. We should definitely avoid buying Bitcoin! Perhaps the next reason not to buy Bitcoin is close, so I'm also advising not to buy Bitcoin guys, as we all know, even if it makes it to $100K it will crash down to $30k!
I hope you enjoyed the videos! I have found many more but these were some of the most important from that era.
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