Let's start with a FUN FACT - If youβd spent just $5 on Bitcoin seven years ago, youβd be a millionaire today.πͺπͺπͺπͺ
YES, that's true and after reading this everybody is kicking themselves for not investing anything in the bitcoin at that time.
Those who had the foresight and luck to buy bitcoins early have been turned into multi-millionaires, but there are many
others who have lost their bitcoins worth millions in the trash.
Here's a list of some people who Lost vast sums of bitcoin and then watched it soar in value.
- A man from Florida named Laszlo Hanyecz tops this list because he bought two pizzas in 2010 for 10,000 Bitcoins.
Bitcoin is at somewhere around $5100 today, so do the maths and calculate the cost of those pizzas.
-James Howells, an IT worker was in the news for loosing 7,500 Bitcoins in 2013 when he accidentally
threw out an old hard disk containing his private key. It is reportedly under thousands of tonnes of landfill at a waste
recycling centre in Newport.
-In 2010, Campbell Simpson from Australia bought 1400 bitcoins for USD $18.70 or AUD $25.
At the time there was very little use for bitcoin and nobody had any idea about its future.
As the time went by he forgot about them and threw his old and failing portable hard drive in the junk that contained
an encryption key which is the only way to access those bitcoins.
Today, with bitcoin at $5100 mark that simple text file and the coins it unlocks would be worth millions.
- David Kitchen, from London mined around 50 coins in 2010 but stopped mining due to some reasons.
He just stashed those 50 coins on a USB stick and forgot about them completely.
Recently, when the price started to soar he realized what he had done and started looking for the USB drive, but unfortunately it had disappeared.
At today's price that's like loosing bitcoins worth USD $255000.
-In another case, an Unknown cryptoinvestor lost his Bitcoins worth US$50,000
as his Wallet and Backups Got Destroyed due to house Fire. It was reported that an SSD on which a Bitcoin wallet had been stored caught fire.
The user had backed up the wallet and made offline copies of the information needed to restore it.
The recovery seed was written on a piece of paper and also stored on a USB drive.
Both backup solutions were lost in the fire.
- Another such unlucky Bitcoin owner lost bitcoins worth $67,000 USD when he did a computer upgrade by mistake that cost.
He completely forgot about his bitcoins and upgraded his computerβs RAM and added a faster hard drive.
If you too are aware of any such incidents then do share it with all of us in the comments section below.
Thanks for reading. Have a nice day!
Interesting post. Upvoted and resteemed. I previously heard the amount for the pizzas was 20k BTC total for 2 pizzas and the guy from London last 3K BTC because his gf threw away old laptop that was noisy, overly heated and seems useless (it was actually mining bitcoin). Numbers aside, these are very good examples that should teach us to value whatever we possess now. Because you never know what the future holds for you!
Yes,we should always be careful with our Cryptocurrencies , Thanks for sharing your Views:)
Wow, Nice Post!!
Thank you :)
lol... the story of the first man made me laugh hard.. I cant imagine spending such an amount on pizza, though I understand the value had not risen then. Nice post. Thanks for sharing
UPVOTEDThanks :) Glad you Liked it !
Areh sanjay bhai ne kya post kiya.... ππ People losing Bitcoins.... Wait I will make a post on people making bitcoins
Sure , Crypto Guru !
That is so great. I am very grateful for that! Love it.
Thank you so much :)
May the 22th is now called "Bitcoin Pizza Day" actually, because of this guy in 2010 haha! Great article @sanjayrai, thank you :)
Upvoted and followed
Thanks ,Glad you like it My Friend :) Followed you back !
LOL! I bought my first of bitcoin about a month ago. Value has already more than doubled, over $2 today! I am on my way... HA!
Good Luck :) ππππππ
10k bitcoins for pizza :O If pizzeria didn't sell those bitcoins, owner is abominably rich !
Upvoted, would you upvote me ?
Followed & Upvoted !! Thanks :)
I'm sure it won't effect the price much, but I wonder what will happen with those lost btc and if there is anyway to estimate the number of bitcoin that has been lost. This could reduce the overall supply and lead to a small increase in value of bitcoin.
Thanks for sharing your Views , I'm sure i read somewhere about it !
Thanks for your btc post .i hope for your next btc post
Thank you :)
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