Man Buys $27 Of Bitcoin, Forgets About Them, Finds Them 4 Years Later And They're Worth $886k
The meteoric rise in Bitcoin has meant that within the space of four years, one Norwegian man's $27 investment turned into a forgotten $886,000 windfall.
Kristoff Koch invested 150 kroner ($26.60) in 5,000 Bitcoins in 2009, after discovering them during the course of writing a thesis on encryption. He promptly forgot about them until widespread media coverage of the anonymous, decentralised, peer-to-peer digital currency in April 2013 jogged his memory.
Bitcoins are stored in encrypted wallets secured with a private key, something Koch had forgotten. After eventually working out what the password could be, Koch got a pleasant surprise:
"It said I had 5,000 Bitcoins in there. Measuring that in 2013 rates it was about $886,000," Koch said.
Koch exchanged one fifth of his 5,000 Bitcoins, generating enough kroner to buy an apartment in Toyen, one of the Norwegian capital's wealthier areas.
Good thoughts
a man mined bitcoins at the very early stage when 1 bitcoin was trader for cents, with his own laptop (Can you believe that?) then his girlfriend asked to stop that "mining thing" that just get the computer hot and noisy all the time, that thing kind of token called bitcoin its not worth it, so he stopped it. Later he acknowledge that the price of 1 bitcoin is above $100 usd, he then checked the block chain to confirm and yes. he had the calculation of have mined 300,000 bitcoins !!!... but no longer has his laptop with him, want to find out what happens ? . See this video
...talking about forgotten bitcoins, this history is hilarious !!
Congratulations @parenting101! You have received a personal award!
Click on the badge to view your Board of Honor.
Do not miss the last post from @steemitboard!
Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes
Congratulations @parenting101! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!