The internet is a great source of amazing stories, and Bitcoin is not an exception. Over the past few years, several Bitcoiners took to the social platform to share their stories and experiences about their lost Bitcoin.
Today we bring to you the five stories of lost bitcoin wealth that will make you cry.
An Australian tech expert who threw away a hard drive containing 1400 BTC.
Campbell Simpson, a tech expert who spent $25 on internet currency says he missed out on $4.8 million. The tech expert shared his pain after unknowingly disposing his seven-year-old portable hard drive containing 1400 BTC, which is now worth $ 21.98 million at the time of writing this article.
“To be honest, the details are a bit foggy these days” states Campbell. “I Paypal’d some random stranger from the other side of the world a few US dollars for a digital transaction of an effectively worthless faux-currency.”
The Gizmodo Australia’s website editor, went further by saying he has lost an incredible wealth by releasing material that contains 1400 Bitcoins, which is a digital currency.
Seven years later, the Bitcoin market skyrocketed and the seemingly insignificant money of Simpson, which he bought for $ 25, is now worth millions of dollars.
How did it happened?
In 2010, bitcoin trading platform wasn’t available online. Most of the Bitcoin communities were miners, mostly technology nerds or academics participating in the project out of curiosity. Campbell’s interest was released after reading the article on Bitcoin, which led him to buy a new crypto currency just to better understand it.
About a year later, Campbell moved home and decided to take the opportunity to clean up the accumulated technological waste as a result of being a technical reporter. USB sticks, 3D glasses, USB cables, computer components. All this literal garbage. A pile of garbage that went in a jump.
Realizing his mistake, Campbell was very calm and said that
“It wasn’t a big deal. It was one of those “aw, crap” moments that happen to everyone on a semi-regular basis. I got a parking ticket, I forgot to send a birthday card to a friend overseas, that kind of thing. Without the benefit of hindsight, of course, it wasn’t that big a deal… Bitcoin was a fun fad.”
A developer who bought pizzas for 10,000 bitcoins on May 22, 2010.
In May 22, 2010, two pizzas was bought using 10,000 less-known digital currency units called bitcoin by a developer with name Laszlo Hanyecz. Prior to the order Hanyeczposted on the Bitcoin talk forum saying:
“I’ll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I’m aiming for is getting food delivered in exchange for bitcoins where I don’t have to order or prepare it myself, kind of like ordering a ‘breakfast platter’ at a hotel or something, they just bring you something to eat and you’re happy!
I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc.. Just standard stuff no weird fish topping or anything like that. I also like regular cheese pizzas which may be cheaper to prepare or otherwise acquire.
If you’re interested please let me know and we can work out a deal.”
Ten thousand unit of bitcoins accounted for about $40 in May 2010, and the anonymous user agreed to buy a pizza. Even then, the pizza shopper was given a discount – he only paid $25.
Seven years later, Bitcoin became nuclear. Today, the price of bitcoin is over $15,700, which means 10,000 unit of bitcoin is now worth an incredible $157.5 million as at the time of writing this article.
“It wasn’t like Bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool,” Hanyecz told The New York Times in 2013. “No one knew it was going to get so big.“
The two Pizza Laszlo Hanyecz purchase from a Papa John through another bitcoin enthusiast is considered to be the first “real-world” payment transaction with bitcoins.
Missing: hard drive containing Bitcoins worth £4m in Newport landfill site
A British man says he mistakenly lost more than $80 million in bitcoin. James Howells, a computer scientist from Newport, says he accidentally dispose 7500 bitcoins in mid-2013.
Now he plans to find them, but he does not know how, because he believes the hard drive containing the 7500 bitcoins has been buried in the land field.
As at the time Howells claims to have dispose his hard disk drive, the value of the entire bitcoins in his possession was around $130. This means that the bitcoin stored on the hard drive was worth about $ 975,000 at a time when it was said that the device had been abandoned.
Today, the price of bitcoin is over $15,700, which means the 7500 unit of bitcoin Howells is now worth an incredible $117.75 million as at the time of writing this article.
A man who claim BTC ruined his life
In 2010, an Italian publisher Rengade – identified as Guido – come across Bitcoin and mined some for himself. However, because he did not expect bitcoin to grow so much, he forgot his coins and lost them when he bought a new computer and a new hard drive. In 2014, Guido noticed the sudden rise in the price of Bitcoin and immediately recalled his bitcoin.
“I was shocked how a small virtual coin mined by computers could have reached that amount of money. I had some Bitcoins and searched all over, but nothing, not a single 0.000000001” Guido said.
Then he tried to invest money, but without success or big profit.
“Since that day I regret every single minute of my life, I could have change it forever, helping my family and my friends. I never thought about being a millionaire and I don’t want to, but – damn – 20€ in 2010 and now my life could have been different. I cannot sleep (…) and now I’m seeing a psychologist to help me out, but nothing. I keep regretting every single moment.”
At this point, things get even darker for Guido.
“I’m so bad at decision making that I can’t even end my life.”
“I’m addicted to those numbers in the wallet. (…) No one seems to understand me, they just tell me that ‘life goes on’, but it’s not true. How my life can goes on with this kind of suffering? I don’t even know why I’m writing here to strangers, but I probably need someone who can convince me that life really goes on, that missing the [Bitcoin] train could be the sign of something else. I don’t really know I’m not here to beg for Bitcoins, I’m trying to find some emotional help because I can’t really keep on living.”
A man who regret selling 100BTC for $800
A man whose name is SuperDuperderp on Reddit kick off his story by writing: “I first got in to Bitcoin in 2012. One Bitcoin was worth $4 at the time. I immediately got hooked and knew Bitcoin would be huge one day. Unfortunately I was also very poor. The most I could afford to buy was $400 worth (100 BTC).”
He continued by saying “The price didn’t move much, so I stopped checking after a couple weeks. When I came back to it a month later, the price had steadily increased to $8 per coin. Surprised at my small windfall, and thinking it was too soon for Bitcoin to really take off, I sold all 100BTC for $800 and planned to buy in again when the price went down.” However, SuperDuperderp never bought another bitcoins when the price fell. “I watched it climb and climb until I finally bought back in around $100, netting me 8 BTC.”
“I let my feelings get the best of me and panic sold/bought a few times during the 2013 turmoil, and most recently had to sell a few BTC as I was in dire straights,” the Redditor stated.
“Now I have a little over 2BTC and am marginally better off than I was in 2012. I like to believe that if I had been financially comfortable in 2012 I would have bought a chunk of BTC to save long term and wouldn’t have been so quick to sell. But who knows? It takes money to make money.”