Reddit User Locks Away $100 Worth of Bitcoin (BTC) For 100 years in Public Library
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- The public library in OD’s city recently hosted a series of events.
- OD decided to include “something special” in the time capsule.
Anxieties about the global economy and increasing inflation have sparked yet another round of warnings that interest rate increases by the Federal Reserve might do more harm than good for the market, as seen by the price movement of Bitcoin (BTC).
With this time-lapse challenge, Reddit user Optimal-Dentistador (OD) wanted to know how long the Bitcoin network would last. A post on the Bitcoin subreddit OD mentioned, “wrote a letter and also put the private keys for $100 worth in BTC.” We deposited 0.003 Bitcoin on a new address, but the private and public keys along with the letter, and here we are, they said in a private conversation with media agencies.
The Time Capsule Experiment
The public library in OD’s city recently hosted a series of events that sparked the idea for the long-term experiment. OD requested that these activities remain anonymous.
OD decided to include “something special” in the time capsule, specifically the public and private key information for 0.003 BTC, almost $100 at the current exchange rate. People on Reddit noted that although 0.003 BTC may seem little in 2022, it might have market-moving implications in 100 years.
In today’s environment, it’s like discovering the “Bitfinex hack amount of money” in a letter. OD was quick to make the comparison. Earlier this month, the US Department of Justice confiscated $3.6 billion as part of the Bitfinex catastrophe. According to CoinMarketCap, the Bitcoin price today is $42,105.39 USD with a 24-hour trading volume of $25,019,971,037 USD. Bitcoin is down 2.92% in the last 24 hours.
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