I potentially lost $1 Million in Bitcoin

Hello my dear Grumo sapiens,

I have a crypto-fantastic story for you.

It all started when a Chinese bitcoin mining company approached me back in April 2014.

The company was (and is) called Bitmain and they offered me $5,000 USD to buy from me the domain name bitmain.com

The reason why I owned that domain was because the legal name of my company is Bitmain Studios Inc.

Before Grumo Media, I attempted to start a software company (which failed) but kept the same name.

Here is the email I received from the Chinese Bitmain company:

I counter offered $20K and they came back with $16K.

I ended up selling the domain for $18,000 USD.

If they had paid me in bitcoin that would have been worth over $1 million CAD at the peak when each bitcoin was valued almost at $20K USD.

Of course, no one could’ve predicted that bitcoin would become so valuable.

What’s quite incredible, is that out of all the companies in the world that are involved in cryptocurrency mining, Bitmain has become the largest one.

Last year alone they posted a profit of $4 billion dollars.

Bitmain also runs AntPool, the largest mining pool in the world.

I don’t feel any regret. At that time almost no one thought bitcoin was going to be worth anything and Bitmain was barely known.

With those $18,000 I bought my little Mazda 2. That’s the only car I’ve ever bought. The previous one my dad bought back in 2000.

Here it is… it’s so cute 🙂

So in a sense, the largest bitcoin mining company in the world bought me a car.

I can’t complain.

Thank you Bitmain!

Founder of Grumo Media, Chief Monkey at Grumo, Co-Founder of Mench.

And of course… still owner of the original (albeit much poorer) Bitmain company 😉

Vancouver, Canada (circa MMXVIII)

P.S: Why don’t I write as often? great question, thanks for asking. I’ve been heads down working on Mench. We’ve made a ton of progress and already have some awesome instructors using our educational chatbot. You can apply as an instructor HERE.

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