Michael Terpin

Oh my gosh.

Within about four months, while the Bitcoin difficulty was still level one, he mined 200,000 Bitcoin.

Holy crap.

And he has none of them now, he claims.

He says he put them in Mt.

Gox because he thought it was safer there.

If he just kept them in his wallet, kept the private keys,

he'd be one of the richest people on the planet right now.

That's nuts.

Yeah.

There's a lot of stories like that about the early days of Bitcoin.

This is true.

The people who, you know, and again, when you get an investment, let's say it's a stock or something, and you go 10X, you know, you're told you should take some stuff off the top or don't get greedy or whatever.

And especially if it then crashes.

But I'm now not a proponent of hodling, and I'm not a proponent of like just selling when it doubles or whatever.

I think you need to look at the cycles.

And the most successful strategy, even though hodling did really well,

HODLing, as I explain in the book, is sort of based on a meme from a number of years ago where somebody misspelled the word hold when he was drunk on a famous post on Bitcoin Talk, which was Satoshi's little chat board.

But if you were to buy, let's say you weren't super early, you didn't know about it in 2010, 2011, but you learned about it at the end of 2012.

That was actually almost a year after I'd first heard about it.