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+--- Thread: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k (/Thread-Man-buys-27-of-bitcoin-forgets-about-them-finds-they-re-now-worth-886k)
Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k - Feat - 11-02-2013
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.
Kristoffer 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 today's rates it's about NOK5m ($886,000)," Koch told NRK.
Silk Road fluctuations
In April 2013, the value of bitcoin peaked at $266 before crashing to a low of $50 soon after. Since then, bitcoin has seen large fluctuations in its value, most recently following the seizure of online drugs marketplace Silk Road, plummeting before jumping $30 in one day to a high of $197 in October.
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.
RE: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k - w00t - 11-02-2013
I'm pissed, I've a wallet with 1k BTC in it, but I can't remember how I encrypted it, nor what password I might have used.
RE: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k - Feat - 11-02-2013
(11-02-2013, 12:53 AM)w00t Wrote: I'm pissed, I've a wallet with 1k BTC in it, but I can't remember how I encrypted it, nor what password I might have used.
Maybe you should type a random password(the first one that comes to mind). If you get into it you should totes gimme 1BTC.
RE: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k - Tear - 11-02-2013
That would be amazing, finding that many BTC that you had but forgot about.
RE: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k - Feat - 11-02-2013
(11-02-2013, 01:02 AM)Tear Wrote: That would be amazing, finding that many BTC that you had but forgot about.
Well apparently this guy did.
RE: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k - Mustnabs - 11-02-2013
Too bad not everyone can be as lucky as him.
RE: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k - Feat - 11-02-2013
(11-02-2013, 01:17 AM)Mustnabs Wrote: Too bad not everyone can be as lucky as him.
That'd be fucking amazing.
RE: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k - Hawk - 11-02-2013
think if he invested 100$ in BTC back then.
so much xD
RE: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k - Feat - 11-02-2013
(11-02-2013, 04:28 AM)Hawk Wrote: think if he invested 100$ in BTC back then.
so much xD
Some guy had 10,000 bitcoins and is literally a millionare.
RE: Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k - Sir - 11-02-2013
Can I get some luck like this please? Anybody? No? Ok. Fuck you too.