Digital Assets: Bitcoin Nuggets

January 11, 2021 | Digital Assets, Latest News, News
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A Reddit user recovers long-lost private keys to bitcoin hoard, cashes in $4.2 million; and other stories.

A student found the long-forgotten private keys to a 2011 stash of 127 bitcoin on December 22 when the crypto was trading in the $23,000s range. The lucky HODLer (“BitcoinHolderThankU”) then cashed them out for a net haul of $4.24 million at a price of $33,439.02 per coin minus a 0.15% fee. (COIN TELEGRAPH)

The bitcoin hoard was created in 2011 or 2012 through “surveys, watching videos, and completing random tasks.” The objective: to purchase in-game currency for the online game DarkOrbit. They never got around to buying the currency and the bitcoins just sat in an old-model Dell Computer – not lost – just forgotten – until now.

But, somebody else was downright unlucky

A crypto user known as Onnar related his tale of woe on Reddit of how he lost access to 2.6 BTC from the transfer of his wallet to a new computer acquired during the Christmas holidays. (Bitcoin.com)

Onnar erased the hard disk of an old computer, not realizing the passwords required to access the private keys of 2.6 BTC he owned were stored in a password manager on the machine.

Though the private keys were safely backed up, without the password they were inaccessible.

The damage: over $100,000.

Ouch.

Got 25 BTC or 800 ETH? Trade either for 2 NYC bars!

Patrick Hughes, the owner of bars Hellcat Annie’s and Scruffy Duffy’s, has put them up for sale.

Both are available to anyone willing to fork out 25 BTC or 800 ETH. (Each bar is valued at around $975,000). (COIN DESK)

Hughes is a bitcoin believer and a fiat currency skeptic.

“The next crisis, you won’t have to run out and buy toilet paper,” he told the New York Post. “You can just use your dollars.”

Related Story:    A Crypto Wallet with an Automatic Protection Guarantee of $ 1 Million

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