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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forumsouch. IT worker throws out hard drive, loses $7.5M bitcoin fortune.
http://worldnews.nbcnews.com/_news/2013/11/28/21654552-it-worker-throws-out-hard-drive-loses-75-million-bitcoin-fortuneLONDON -- An IT worker threw out a computer hard drive without realizing it contained $7.5 million worth of the digital currency Bitcoin.
The device is now buried somewhere in a vast landfill site near the home of owner James Howells -- who only realized his mistake when it was too late.
"It was just after the financial crash and when I found out about Bitcoin it seemed to me to be the perfect alternative," he said. "I knew it was going to be huge."
The 28-year-old "mined" the currency by running a computer program on his Dell laptop for almost a week, eventually having to turn it off because his girlfriend complained the fans in the machine were getting too hot and noisy at night.
tridim
(45,358 posts)I wouldn't bother feeling bad for him for a second.
BoWanZi
(558 posts)(nt)
tridim
(45,358 posts)LOTS of digital theft, used for paying ransoms, used for buying illegal things.
At any time the originators can cash out and take the "value" immediately to zero, at which point everyone loses except the originators.
It's a digital pyramid scheme.
Art_from_Ark
(27,247 posts)Back in the days before the US issued national banknotes (before the 1860s), banks would issue their own paper money. It didn't take much to set up a bank in a frontier town ("where the wildcats were" , and unscrupulous banksters would take advantage of that by taking depositors' gold and silver (hard money) and issuing their own banknotes in return, which supposedly could be redeemed for hard money on demand. However, when the crooks got what they thought was enough in gold and silver, the "bank" folded, leaving depositors with paper dollars that had little if any value.