..

Man Accidentally Throws Away $60M in Bitcoin

Written by:
Guest
Published on:
May/26/2018

Losing one's passwords is something that haunts all bitcoin investors.  That horror recently turned a reality for one man, as detailed in the New York Post.

James Howells lost a hard drive with the key to more than $60 million in bitcoin.

“I mined more than 7,500 coins over one week’s time in 2009; there were just six of us doing it at the time, and it was like the early days of a gold rush,” said the IT worker turned crypto investor, 32, who lives in Newport, Wales.

“Four years later, I had two hard drives in a desk drawer. One was empty and the other contained my bitcoin private keys,” Howells recalled. “I meant to throw away the empty drive — and I accidentally threw away the one with the bitcoin information.”

From the Post:

Howells didn’t realize the value of his coins for a few weeks after he lost them. “I looked up the price, did the calculation . . . and thought, ‘S - - t. [My investment is] worth around $2 [million] or $3 million.’ A few months later it was worth $9.9 million. I was annoyed, pissed off, sick. I spoke to the people at the landfill and told them that I threw away a hard drive worth $10 million. They looked at me stupidly.”

- Aaron Goldstein, Gambling911.com

 

Business/Financial News

Bitcoin Notches Record High, Day After U.S. ETF Debut

Bitcoin Notches Record High, Day After U.S. ETF Debut

Bitcoin climbed to a record high on Wednesday, and the first U.S. bitcoin futures-based exchange-traded fund (ETF) built on gains after a solid debut on Tuesday.

Bitcoin Bull Mark Yusko Sees Trouble at $60,000

Bitcoin Bull Mark Yusko Sees Trouble at $60,000

Speaking to CNBC this week, hedge fund manager Mark Yusko believes investors will take profits due to the cryptocurrency’s sharp rally over the last few weeks.

U.S. Becomes Largest Bitcoin Mining Centre After China Crackdown

U.S. Becomes Largest Bitcoin Mining Centre After China Crackdown

The United States has overtaken China to account for the largest share of the world's bitcoin mining, data published on Wednesday by Britain's Cambridge Centre for Alternative Finance showed.

Fake New: How an Elaborate Hoax in the Crypto Space Led to Death Threats

Fake News: How an Elaborate Hoax in the Crypto Space Led to Death Threats

We can probably speak on behalf of CoinGeek when we say, near and dear to our hearts was today's panel on Media Influence: How News Reporting Affects the Digital Asset Market.  Like Gambling911.com, CoinGeek we know strives to report fair and balanced news.  But not every story out there in the digital assets space proves to be factual. 

Bitcoin SV as Turing Complete System

Bitcoin SV as Turing Complete System

There is a controversy that's been emerging in the cryptocurrency community that claims Bitcoin cannot be used as a turing complete system.  In computability theory, a system of data-manipulation rules is said to be Turing-complete or computationally universal if it can be used to simulate any Turing machine, meaning the ability to recognize or decide other data-manipulation rule sets.

Syndicate