Now Sigurd and Regin ride up the heath along that same way wherein Fafnir was wont to creep when he fared to the water; and folk say that thirty fathoms was the height of that cliff along which he lay when he drank of the water below. Then Sigurd spake--
"How sayedst thou, Regin, that this drake  was no greater than other lingworms; methinks the track of him is marvellous great?"
Then said Regin, "Make thee a hole, and sit down therein, and whenas the worm comes to the water, smite him into the heart, and so do him to death, and win thee great fame thereby."
But Sigurd said, "What will betide me if I be before the blood of the worm?"
Says Regin, "Of what avail to counsel thee if thou art still afeard of everything? Little art thou like thy kin in stoutness of heart."
Then Sigurd rides right over the heath; but Regin gets him gone, sore afeard.
But Sigurd fell to digging him a pit, and whiles he was at that work, there came to him an old man with a long beard, and asked what he wrought there, and he told him.
Then answered the old man and said, "Thou doest after sorry counsel: rather dig thee many pits, and let the blood run therein; but sit thee down in one thereof, and so thrust the worm's heart through."
And therewithal he vanished away; but Sigurd made the pits even as it was shown to him.
Now crept the worm down to his place of watering, and the earth shook all about him, and he snorted forth venom on all the way before him as he went; but Sigurd neither trembled nor was adrad at the roaring of him. So whenas the worm crept over the pits, Sigurd thrust his sword under his left shoulder, so that it sank in up to the hilts; then up leapt Sigurd from the pit and drew the sword back again unto him, and therewith was his arm all bloody, up to the very shoulder.
Now when that mighty worm was ware that he had his death-wound, then he lashed out head and tail, so that all things soever that were before him were broken to pieces.
So whenas Fafnir had his death-wound, he asked "Who art thou? And who is thy father? And what thy kin, that thou wert so hardy as to bear weapons against me?"
Sigurd answered, "Unknown to men is my kin. I am called a noble beast:  neither father have I nor mother, and all alone have I fared hither."
Said Fafnir, "Whereas thou hast neither father nor mother, of what wonder weft thou born then? But now, though thou tellest me not thy name on this my death-day, yet thou knowest verily that thou liest unto me."
He answered, "Sigurd am I called, and my father was Sigmund."
Says Fafnir, "Who egged thee on to this deed, and why wouldst thou be driven to it? Hadst thou never heard how that all folk were adrad of me, and of the awe of my countenance? But an eager father thou hadst, O bright eyed swain!"
Sigurd answered, "A hardy heart urged me on hereto, and a strong hand and this sharp sword, which well thou knowest now, stood me in stead in the doing of the deed. 'Seldom hath hardy eld a faint-heart youth.'"
Fafnir said, "Well, I wot that hadst thou waxed amid thy kin, thou mightest have good skill to slay folk in thine anger; but more of a marvel is it, that thou, a bondsman taken in war, shouldst have the heart to set on me, 'for few among bondsmen have heart for the fight.'"
Said Sigurd, "Wilt thou then cast it in my teeth that I am far away from my kin? Albeit I was a bondsman, yet was I never shackled. God wot thou hast found me free enow."
Fafnir answered, "In angry wise dost thou take my speech; but hearken, for that same gold which I have owned shall be thy bane too."
Quoth Sigurd, "Fain would we keep all our wealth til that day of days; yet shall each man die once for all."
Said Fafnir, "Few things wilt thou do after my counsel, but take heed that thou shalt be drowned if thou farest unwarily over the sea; so bide thou rather on the dry land for the coming of the calm tide."
Then said Sigurd, "Speak, Fafnir, and say, if thou art so exceeding wise, who are the Norns who rule the lot of all mothers' sons."
Fafnir answers, "Many there be and wide apart; for some are of the kin of the Aesir, and some are of Elfin kin, and some there are who are daughters of Dvalin."
Said Sigurd, "How namest thou the holm whereon Surt  and the Aesir mix and mingle the water of the sword?"
"Unshapen is that holm hight," said Fafnir.
And yet again he said, "Regin, my brother, has brought about my end, and it gladdens my heart that thine too he bringeth about; for thus will things be according to his will."
And once again he spake, "A countenance of terror I bore up before all folk, after that I brooded over the heritage of my brother, and on every side did I spout out poison, so that none durst come anigh me, and of no weapon was I adrad, nor ever had I so many men before me, as that I deemed myself not stronger than all; for all men were sore afeard of me."
Sigurd answered and said, "Few may have victory by means of that same countenance of terror, for whoso comes amongst many shall one day find that no one man is by so far the mightiest of all."
Then says Fafnir, "Such counsel I give thee, that thou take thy horse and ride away at thy speediest, for ofttimes it fails out so, that he who gets a death-wound avenges himself none the less."
Sigurd answered, "Such as thy redes are I will nowise do after them; nay, I will ride now to thy lair and take to me that great treasure of thy kin."
"Ride there then," said Fafnir, "and thou shalt find gold enow to suffice thee for all thy life-days; yet shall that gold be thy bane, and the bane of every one soever who owns it."
Then up stood Sigurd, and said, "Home would I ride and lose all that wealth, if I deemed that by the losing thereof I should never die; but every brave and true man will fain have his hand on wealth till that last day that thou, Fafnir, wallow in the death-pain til Death and Hell have thee."
And therewithal Fafnir died.
 Lat. "draco", a dragon.
 "Unknown to men is my kin." Sigurd refusing to tell his name is to be referred to the superstition that a dying man could throw a curse on his enemy.
 Surt; a fire-giant, who will destroy the world at the Ragnarok, or destruction of all things. Aesir; the gods.