Business

I could be in possession of $36 million worth of Bitcoin when my computer is not in memory

A CRYPTOCURRENCY trader thinks he might have $36 million in Bitcoin after his PC was stored for 11 years – but he doesn’t know how to access it.

Anonymous Reddit user posted his conundrum on the Bitcoin subreddit, asking if anyone had any advice on how to earn a fortune.

A Crypto Trader Thinks He Might Have $36 Million in Bitcoins After His PC Was Stored For 11 Years

3

A Crypto Trader Thinks He Might Have $36 Million in Bitcoins After His PC Was Stored For 11 YearsCredit: Getty
Anonymous Reddit user posted his conundrum on the Bitcoin subreddit

3

Anonymous Reddit user posted his conundrum on the Bitcoin subredditCredit: Getty Images – Getty

The user said he started mining bitcoin for weeks at the end of 2009 – before leaving his laptop in storage while moving abroad.

Now, 11 years later, he will be reunited with his old computer – and hopefully can regain access to his Bitcoin collection as soon as possible.

He took to Reddit to ask for help on how to do it, with one tech pundit eagerly speculating that his hoard could now be worth a whopping $36 million.

The Bitcoin collector wrote: “In 2009, I was really interested in anything related to economics and specifically money.

“I was looking at the official Bitcoin report and after reading some articles, I decided to download the Bitcoin client.

“I remember I was mining for weeks on end and didn’t really know the importance of what I was doing but was really just trying to support the idea of ​​a virtual currency because I knew this could be the future. .

Most read in The Irish Sun

“Around 2010, I threw my computer and all my stuff in storage and moved it overseas.

“My computer has been cached for about 11 years now and I’ll be back soon to open it and see if I still have the Bitcoin client.

“I’m really out of sync with the way Bitcoin works these days.

“All I know is that you have your private key in cold storage or hot storage.

“I think in 2009 my computer should keep the private keys on cold storage because there weren’t any virtual wallets back then.

“When I get back soon, I’ll try to restore my potential wealth or maybe cry in despair.”

One enthusiast was quick to speculate that he would have amassed 1,000 Bitcoins – worth a total of $36 million – if he had indeed “mined for weeks with a powerful PC”.

The anonymous user warned him about scammers who might be looking to defraud him to get rich.

Another added: “If you ask someone to recover your formatted drive, tell them it has important personal files.

“Don’t tell them it has Bitcoin since 2009.”

Another urged him to choose a “professional” computer technician to access the hard drive, adding: “Don’t tell them what’s there.

“Is it even possible to pay extra to be there when they do that? If there’s a few million, you’ll be tempted to steal it and tell you there’s nothing to get back.”

Bitcoin trading, while attractive, is risky and not a guaranteed way to make money.

It has had a lot of price volatility in recent months, and the price can change almost hourly.

Bitcoin price was at $40,258 on January 9, according to Coindesk, but fell to $34,214 just three days later.

Changes in cost can make it difficult for buyers to have an accurate idea of ​​the price of an item if its value changes on a daily basis.

If a Reddit user’s recovery attempt fails, it won’t be the first time someone has lost more than six figures in Bitcoin.

Earlier this year, a man lost £275 million in Bitcoin after tossing his hard drive.

A trader lost up to $2 million in Bitcoin when his crypto password was stolen last month.

The world’s richest Bitcoin trader lost $5 billion in a month after the crypto bubble burst last month.

Risks of buying with cryptocurrencies

Investing and buying cryptocurrencies like Bitcoin is very risky:

Their value is volatile and the City’s watchdog, the Financial Conduct Authority, has warned investors to be prepared to lose all of their money.

Shoppers should also think carefully about making purchases with cryptocurrency.

For example, Bitcoin has experienced dramatic price swings in recent months, and prices can change almost hourly.

Bitcoin price was at $40,258 on January 9, according to Coindesk, but fell to $34,214 just three days later.

That’s a 15% discount.

These price movements are risky for a business because you can sell an item with Bitcoin at one price and the value can drop shortly after, leaving you with less money from a purchase or sale.

Similarly, the price of Bitcoin can also increase rapidly – ​​making it difficult for buyers to get an accurate idea of ​​the price of an item if its value changes on a daily basis.

Users started mining bitcoin for weeks at the end of 2009

3

Users started mining bitcoin for weeks at the end of 2009Credit: Getty
Alex Jones Says He Lost $300 Million in Bitcoins When He Started THREE Laptops

https://www.thesun.ie/money/8107925/sitting-on-bitcoin-fortune/ I could be in possession of $36 million worth of Bitcoin when my computer is not in memory

Fry Electronics Team

Fry Electronics.com is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@fry-electronics.com. The content will be deleted within 24 hours.

Related Articles

Back to top button