You’ve probably heard of Bitcoin, even if you’re not sure what it exactly is. It’s a cryptocurrency that’s been around since 2009, where “miners” obtain the currency by spending electricity and processing power to carry out the complex calculations needed to mine them. Since Bitcoins are a finite resource, their value has been appreciating for years, from $1,000 at the end of 2016 to over $10,267 now.
So, it’s heartbreaking that someone owned a literal fortune in the cryptocurrency, and then accidentally threw it all away. Campbell Simpson, the Technology Editor at Gizmodo Australia, narrated the tragic tale back in May, of how he literally threw away $14.8 million in the trash.
In 2010, when the Bitcoin price was like 1.5 US cents — if you could find a place that would even sell them to you — I bought $25 worth.
— Campbell Simpson (@csimps0n) May 23, 2017
Simpson bought the $25 worth of Bitcoins in 2010 for $1.5 each. He then promptly put it into storage, as an offline text file composed of his encryption key. The practice is pretty common with cryptocurrency owners who don’t want to risk a server crash wiping their funds, and don’t intend to access them very soon…