Saturday, 11 February 2017

Man buys ₹ 1700 of bitcoin, forgets about them, finds they're now worth ₹ 6 crore


A Norwegian man  Kristoffer Koch invested 150 kroner ($26.60=  1700  ) in 5,000 bitcoins in 2009, after discovering them during the course of writing a thesis on encryption. He promptly forgot about them until widespread media coverage of the anonymous, decentralised, peer-to-peer digital currency in April 2013 jogged his memory.


Bitcoins are stored in encrypted wallets secured with a private key, something Koch had forgotten. After eventually working out what the password could be, Koch got a pleasant surprise:

“It said I had 5,000 bitcoins in there. Measuring that in today’s rates it’s about NOK5m ($886,000=  6 crore),” Koch told NRK.







1 comment:

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