dead Archives -
An Australian man has recounted his story to local media of losing what would today be more than a seven-figure dollar sum of bitcoin, stressing that such should serve as a warning against storing one’s bitcoin’s keys on a cheap storage device.
Alex Mined Bitcoin in Late 2009
When Alex began mining bitcoin, he was doing so out of technological curiosity and did not think that bitcoin would see meteoric price gains. Alex recounts “In the tech community we didn’t think bitcoin would be that big,” stating that he “got into [mining] just for fun… It was just applying our PC hardware to a global network, something novel. In the early days of GPU [graphics processing unit] mining, a single card could mine quite a few coins per day.”
Alex chose to store his wallet file on his USB stick, and did not think about his bitcoins until discovering that the price had reached nearly $ 1000 USD in 2013. After scrambling to find the storage device, Alex states he “[plugged] the USB stick back in to try and access the file, but the stick died. It was one of those cheap made-in-China ones,” he said.
“If My Wife Knows, I’m Dead”
Alex’s approximately 1000 bitcoins would be worth more than $ 9 million USD at current prices. He describes the debacle as the “Worst mistake of [his] life.” Alex states “The thinking was that it’s offline, not on my PC, so in case something bad happened to the PC — [if] it blew up, or [was] hacked — I still had a backup… Never back up anything on a cheap Chinese-made disk or USB stick.”
Despite the bumpy start, Alex has persevered with cryptocurrency. Alex states that he mined “a lot” of Ethereum at the start of the year, adding “One day, maybe Ethereum might restore what I lost with bitcoin.”
How do you keep your bitcoins safe? Tell us in the comments section below!
Images courtesy of Shutterstock
Want to create your own secure cold storage paper wallet? Check our tools section.
The post “If My Wife Knows, I’m Dead” – Man Shares Story of Losing 1000 Bitcoins appeared first on Bitcoin News.
The Chicago Tribune described it as a “highly unusual move”: An Illinois woman was granted bond by appellate court judges last year after beginning a four-year prison term related to the death of her severely disabled adult daughter . Now, just days before Bonnie Liltz was to report back to prison,…
More than 100 reindeer in Norway have been killed over the last few days after being hit by freight trains.
A suburban Chicago mother who administered a fatal dose of medication to her severely disabled daughter in 2015 has been found dead of an apparent suicide, authorities said Sunday.
A Florida teenager trying to enter Canada has been detained by US border patrol agents who want to interview him in connection with the death of his grandmother, the AP reports. The Jacksonville Sheriff’s Office said late Friday that the 15-year-old was stopped near Buffalo, New York. Officials in Florida…
Cleveland police are trying to figure what led to a Friday shooting that left one juvenile dead and five others wounded. The victims ranged in age from 12 to 16, and the identity of the age of the youth who was killed was not released, reports the Cleveland Plain Dealer…
A western New York woman was shot and killed while walking her dogs Wednesday night—by a hunter, police say. Deputies say Thomas Jadlowski, 34, thought he spotted a deer in a field in the Town of Sherman and fired; he told authorities he then heard a scream and went…
David Cassidy of The Partridge Family fame has died at age 67. Publicist JoAnn Geffen released a statement Tuesday evening saying Cassidy had died “surrounded by those he loved,” per the AP . No further details were immediately available, but Geffen said on Saturday that Cassidy was in a Fort Lauderdale,…
David Cassidy, the ‘Partridge Family’ heartthrob who sold millions of records and became the fantasy of millions of girls, is dead. Cassidy died in a Florida hospital after his organs failed. Family sources tell TMZ, David had been on life…
Charles Manson, the cult leader whose hippie followers terrorized Los Angeles with seven gruesome murders in 1969, has died after almost 50 years behind bars. He was 83. The California Department of Corrections says Manson, whose death sentence for orchestrating the killings was commuted to life imprisonment in 1972, died…