How did the founder of Vitalik Buter's Ethereum leave 7.6 billion SHIBs?

How did the founder of Vitalik Buter’s Ethereum leave 7.6 billion SHIBs?

How easy is it to burn about $ 8 billion worth of cryptocurrencies you don’t need? According to Vitalik Buterin, the founder of Etherium, it’s probably a lot harder than you think.

In an interview with the Uponly podcast yesterday, Vitalik Buterin discussed several topics in a nearly two-hour interview with host Cobie and Ledger. The day Buterin (now more valuable) burned SHIBs worth 7 7.6 billion.

Shiva Inu or SHIB is an evasive coin-like meme brand whose value has multiplied over the past year. According to Koenigseko, the value of SHIB rose by more than 40,000,000% last year for those who had invested in their cryptocurrencies early, making them very rich in a very short time.

Last May, anonymous developers donated 50% of the total offering of SHIB brands to Buterin, which is about 505 trillion SHIB. The developers did this because they thought boots training would burn tokens (i.e., remove them from circulation), which would reduce supply and increase demand.

Towards the end of the same month, Buterin donated the SHIB and other cryptocurrencies it received to various charities and the Covid Crypto Relief Fund of India, including 50 trillion SHIBs, valued at about $ 1.2 billion at the time. Buterin then burned about 90% of his remaining SHIB tokens.

But how Buterin got rid of those tokens is very interesting.

Butrin explained to Cobie and Ledger the complicated process he had to go through to get in and buy a new laptop to complete the trade and send SHIB tokens. “The scary thing is that the tokens are much more valuable than before.”

He said the fund was originally in a cold wallet written in double-digit numbers on separate paper. Buterin said he had to combine the two numbers to get the private key. He said, “I had one of these numbers; the other number was with my family in Canada.” “So I had to call my family in Canada and they told me to read the number.”

Buterin said he combined the two numbers, and he entered the numbers into the computer he bought. “I created the event and sent it to my ETH and then to the computer I bought from Tarjay [Target] for about 300.”

Before disconnecting the laptop from the Internet, Buterin said he had downloaded a program to generate QR codes. After creating the Ethereum event, he scans the QR code on his phone, copies it to his laptop, and then pastes it into etherscan.io/push Tx. Eventually, Buterin said he had started sending tokens.