It has been disclosed by an African that 20 Bitcoins (BTC) were mined by him during his young age, which means he is now nearly a millionaire. Unluckily, he lost the password and key to his BTC wallet.
BTC password: just as significant as the Bitcoin itself
An electronic engineer of 24 from Pretoria named ‘Mark Michaels’ was much active in crypto as a child. Over ten years back, as he was studying in 7th class, he searched on the internet about mining Bitcoin to subsequently begin with it. He stated that he utilized the original wallet software of Bitcoin that demanded a password and wallet key to access. He worked consistently for some weeks and got successful in mining 20 Bitcoins. This was the time when the price of a BTC was a mere $0.0008. Apart from such an insignificant BTC value, there were no other platforms for mining crypto to trade his holdings against money.
Ultimately, he was exhausted by doing it as he was not able to do the other things on his computer during mining as well as the mined BTC was worthless. Considering that he was young and the worth of the coins was next to nothing, he casually stored the BTC password and Wallet key in a document on the desktop of his pc. It came to pass eventually that Michaels mistakenly deleted the files for cleaning his device. Nonetheless, when an upsurge was witnessed in the price of Bitcoin up to $1,000 after some years, he attempted to revive the missing virtual assets.
He said that he took all his memory sticks, hard drives, DVDs, and CDs to check inside all of them. He almost spent a week doing this. He also utilized the programs related to data recovery; however, nothing helped him as he had formatted his hard drive and reused it many times. The worth of his mined BTC is nearly $940,000 nowadays. He said that he accepted to have lost his BTC holdings.
The person to have lost 7,002 Bitcoins
A programmer who was born in Germany and now a resident of San Fransisco named Stefan Thomas was unable to recollect his password, which resulted in a loss of 7,002 BTC. He then created an informative video about Bitcoin for a fan of cryptocurrency who sent 7,002 BTC to him in return for the services he provided him. The reason behind his loss of key to his wallet was that the worth of Bitcoin was not so much significant.