In the summer of 2013, making cleaning on the table, a man named James Howells over threw out the hard drive from your broken laptop.
Unfortunately, a few months later he realized that the disk has 7500 bitcoins that have been mined in 2009. At a time when Bitcoin reached $1000, a discarded hard drive was worth more than $7 million Then the man went to the dump in search of his old hard drive, which, according to estimates, was covered by a meter of imported waste from the summer. Luck did not smile on him.
At that time, the miners engaged in mining bitcoin, which, in fact, was still in its infancy, and it was impossible to predict what it will result – a resounding success or a complete failure. Of course, backups of the wallets, no one was.
Howells over, which is essentially sent to landfill in Newport is $7.5 million, of course, was furious, broken and stunned. After a few years he may have accepted the loss, but old wounds must be reminded of himself, when the currency began its victorious course this year. At the time of this writing BTC was worth about $10,000,and that means irretrievably lost $75 million.
“Maybe you shouldn’t.”
For James mining was a hobby, and Bitcoin is just a toy for techies.
Howells over said
“Have you ever had that feeling when something is thrown away, and I think to myself “maybe you shouldn’t”? I have then really it was.”
Howells over explains that he stopped mine when his girlfriend complained about the noise from the laptop and the heat that emanated from him. When in the following year he spilled soda on the laptop, he dismantled it for parts, some of which was sold and part of the left itself. Among the remaining components were hard drive and mined bitcoins. During a regular cleaning Howells came across this hard drive, unused for three years. Without a second thought, he sent the HDD to the trash.
In 2013 Howells over commented:
“I don’t know to cry or to laugh. Why am I still not in the dump with a shovel? I think I’m just resigned to the fact that it couldn’t find him.”
One can only imagine what now feels Howells over.
“Don’t tell my wife”
Howells over not the only one who felt the pain of financial losses of this kind. The Australian, who decided to remain anonymous because of fear of the wrath of his wife, told his story about the thousands of missing bitcoins.
Alex, as he called himself, tells how the wave of new ideas in 2009, he produced “thousands” of bitcoins. Then, when the program of mining became too cumbersome, he gave up, uninstalled the software and kept their BTC on a cheap flash drive. He said
“The point was that if my PC something happens, he will burn or be hacked — I will still have backup.”
When at the end of 2013 the price of Bitcoin reached $1000, he suddenly remembered about your wallet:
“I plugged the USB drive back to try to access the file, but the flash drive died. It was one of those cheap Chinese flash drives. Worst mistake of my life. Never back up on something cheap made in China”.
Stories about lost bitcoins is more than enough. Among the “lucky winners” turned out to be Gizmodo’s editor, who also threw out the hard drive with 1400 bitcoins in 2012. He paid $25 dollars for tokens at an average price of only $0.05. Now the price would be about $15 million.
These and other incidents inspired the project Chainalysis on a new study that showed that as many as 4 million of bitcoins disappeared forever. The study will include a large portion of the lost token to the category of “lost forever”. Needless to say, these coins still exist on the blockchain, but it is impossible to access.
One of the main rules for beginners is to store coins in offline media, where they are not susceptible to online threats. But as you can see from the above, it is also not 100% guarantee the safety of your tokens.
Matthew Unger, the founder and CEO of iComply Investor Services Inc., said
“Just like you keep cash in your wallet, the funds in the Bank account and perhaps the jewels in the safe, you need to take care of cryptocurrency”.