Daniel Kuhn is a deputy managing editor for Consensus Magazine. He owns minor amounts of BTC and ETH.
It’s quite likely that Otoh has lost more bitcoin than most people will ever hold. An early bitcoin investor, Otoh, a pseudonym that stands for “on the other hand,” has many lessons to share about finding opportunities and making one’s own luck.
“It seemed the right time to let some of the physical coins go,” Otoh said. “Let other people look after them and enjoy having them.” CoinDesk caught up with Otoh ahead of Consensus to discuss his recent auction of vintage physical bitcoins, early investments in other cryptocurrencies like Ethereum’s initial coin offering and how he manages his wealth by diversifying into properties around the world and residing in a tax haven in the British Channel Islands.I’m on the panel about physical bitcoins. I'm basically a fill-in for Mike Caldwell, who invented Casascius coins, who couldn't make it unfortunately.
I’ve always hoped that I’d have a brainstorm and remember if I’ve stashed them away somewhere. But it doesn't make any sense – I've got everything else very well looked after and itemized. A friend of mine whose house I had been staying in at that time remembers receiving a box that was cut open and resealed.Well, after a decade, I decided it's time to sell. I've never sold any, I’ve just been accumulating them as my version of a cold storage.
If I was still in my 20s, then I'd probably be keeping a much higher percentage in crypto, but nowadays I like the security of having a bunch of properties and enjoy renovating them.when it was a few cents. I think I had roughly 600,000. It was the first altcoin, and was quite controversial with Bitcoin Maximalists. They disliked it intensely because they thought it withdrew funds and interest away from Bitcoin.
I think it is excellent as an investment. I think that's its main use at the moment. It’s perhaps the best performing investment in history, and it continues to grow. It is a trillion dollar asset class, and a great way to store value. Satoshi viewed it in the beginning as a hedge against the degenerate behavior of central governments and banks abusing the currencies that we will have to use every day.
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