A Norwegian student spent $26 on Bitcoin in 2009 and forgot the password. He "cracked" it 4 years later. His $26 was worth $886,000.

A Norwegian student spent $26 on Bitcoin in 2009 and forgot the password. He "cracked" it 4 years later. His $26 was worth $886,000.
  • In 2009 Kristoffer Koch was a 22-year-old student in Norway writing his thesis on encryption and digital privacy.

  • He stumbled across Bitcoin while researching. Almost no one outside forums had heard of it.

  • He spent 150 Norwegian kroner about $26.60 and bought 5,000 Bitcoin at less than half a cent each.

  • Then he forgot about it entirely.

  • Four years passed.

  • In April 2013 Bitcoin was suddenly everywhere on the news. The price had exploded past $100.

  • He vaguely remembered buying some once. He could not find the password.

  • He spent weeks trying to crack it.

  • When he finally got in he stared at the screen for a long time.

  • His 5,000 Bitcoins were now worth $886,000.

  • He sold exactly one fifth of them 1,000 coins for around $177,000.

  • He used the money to buy an apartment in Toyen, one of Oslo's most sought-after neighbourhoods.

  • He kept the other 4,000 Bitcoin.

  • He told reporters: "It said I had 5,000 Bitcoin and I just thought oh wow."

  • He had written a university thesis on encryption. His reward for understanding it slightly earlier than everyone else was a free apartment.

  • The $26.60 he spent in 2009 would be worth over $450 million today.

submitted by /u/TheresNoSecondBest to r/Bitcoin
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Quelle: bitcoin-en