29 Oct '13, 2pm

Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k via @guardian

The meteoric rise in bitcoin has meant that within the space of four years, one Norwegian man’s $27 investment turned into a forgotten $886,000 windfall. Kristoffer Koch invested 150 kroner ($26.60) 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)," Koch told NRK . Silk Road fluctuations In April 2013, the value of bitcoin peaked at $266 before crashing to a low of $50 soon after. Sin...

Full article: http://www.theguardian.com/technology/2013/oct/29/bitcoin...

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Man buys $27 of bitcoin, forgets about them, fi...

theguardian.com 29 Oct '13, 2pm

The meteoric rise in bitcoin has meant that within the space of four years, one Norwegian man’s $27 investment turned into...

Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k

Man buys $27 of bitcoin, forgets about them, fi...

boingboing.net 30 Oct '13, 7pm

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