# Bitcoin Owner Lost His Password And Possibly Millions



## fmdog44 (Jan 14, 2021)

A owner of bitcoins has forgotten his password and if he does not figure it out he will lose 22-40 million dollars. He has two more tries. I would paste the story her but I can no longer cut & paste links.


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## Aunt Marg (Jan 14, 2021)

Is this the article, FM?

https://www.nytimes.com/2021/01/12/technology/bitcoin-passwords-wallets-fortunes.html


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## Aunt Marg (Jan 14, 2021)

Gosh, I can't imagine to turmoil he must be suffering inside.

So close yet so far.


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## Jules (Jan 14, 2021)

On the tv news he said that he’s not too upset.  He’s done very well on other Bitcoin purchases.


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## Tish (Jan 14, 2021)

Wow, what a predicament


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## OneEyedDiva (Jan 15, 2021)

There are several things one can do to to store and protect passwords. He's been trying for awhile. I hope he remembers it because although he says he's resigned to the fact that he's probably going to lose that money...unless he's "filthy rich" I imagine to do so would be quite troubling.


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## Aunt Marg (Jan 15, 2021)

OneEyedDiva said:


> This is one of the dumbest things I've heard lately.  Why in the HELL would a person have that much money invested *anywhere* and misplace or forget the password to the account. There are several things one can do to to store and protect passwords. He's been trying for awhile. I hope he remembers it because although he says he's resigned to the fact that he's probably going to lose that money...unless he's "filthy rich" I imagine to do so would be quite troubling.


If it had been me, OneEyed, I would had a key, or whatever they call it, hidden in one of my shoes, one in a bank safety deposit box, another in my notions sewing box, another hidden away in a secret spot in the house, and another 100 more to fall back on.

I'd be sick if I were him, then again, dear husband and I have never had a lot of money, and having grown up in a poor family, I just can't imagine.


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## OneEyedDiva (Jan 15, 2021)

Aunt Marg said:


> If it had been me, OneEyed, I would had a key, or whatever they call it, hidden in one of my shoes, one in a bank safety deposit box, another in my notions sewing box, another hidden away in a secret spot in the house, and another 100 more to fall back on.
> 
> I'd be sick if I were him, then again, dear husband and I have never had a lot of money, and having grown up in a poor family, I just can't imagine.


That's what I'm talking about Marg! Although it's very possible since he's had the coins a long time that he never expected them to grow to so much money so didn't take care to secure them. Bitcoins have sold for as low as 6 cents a coin (2010).  He may have gotten in with "chump change". So I'm going to revise my initial reply by deleting the first two sentences.


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## fmdog44 (Jan 15, 2021)

Aunt Marg said:


> Is this the article, FM?
> 
> https://www.nytimes.com/2021/01/12/technology/bitcoin-passwords-wallets-fortunes.html


That's it!


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## fmdog44 (Jan 15, 2021)

Seems criminal that you can deposit your money in to something and face losing it all because you forgot something. I know zip about Bitcoins but  watched them fluctuate from + 8 % to - 9 % in two days this week.


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## Aunt Marg (Jan 15, 2021)

fmdog44 said:


> Seems criminal that you can deposit your money in to something and face losing it all because you forgot something. I know zip about Bitcoins but watched them fluctuate from + 8 % to - 9 % in two days this week.


I agree, FM.

I have never understood cryptocurrency either, but you're right, I have always seen it as a pretty risky investment.


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## OneEyedDiva (Jan 15, 2021)

fmdog44 said:


> Seems criminal that you can deposit your money in to something and face losing it all because you forgot something. I know zip about Bitcoins but watched them fluctuate from + 8 % to - 9 % in two days this week.


As I mentioned to Aunt Marg, Bitcoin started in 2010 at 6 cents a coin. At one point it was 42 cents a coin and of course fluctuating values up the scale (and back down again). On Dec 18, 2017 one Bitcoin was $15,852.23. As of Jan 4th this year, one Bitcoin cost $37,341.61. Imagine if someone had bought 1,000 Bitcoins when they were first being sold at 6 cents, 42 cents or even a dollar! Although Bitcoin does fluctuate wildly, anyone who got in early still made bookoo bucks. Here's an interactive chart of prices. Put your cursor anywhere on the graph to see prices for any given day.
https://www.buybitcoinworldwide.com/price/
BTW, there are different venues that sell crypto currencies. Don't know how many were available back then but how we access accounts has evolved over the years, even with email and banking. Each venue has it's own set of procedures for securing your accounts.


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## Aunt Marg (Jan 15, 2021)

OneEyedDiva said:


> As I mentioned to Aunt Marg, Bitcoin started in 2010 at 6 cents a coin. At one point it was 42 cents a coin and of course fluctuating values up the scale (and back down again). On Dec 18, 2017 one Bitcoin was $15,852.23. As of Jan 4th this year, one Bitcoin cost $37,341.61. Imagine if someone had bought 1,000 Bitcoins when they were first being sold at 6 cents, 42 cents or even a dollar! Although Bitcoin does fluctuate wildly, anyone who got in early still made bookoo bucks. Here's an interactive chart of prices. Put your cursor anywhere on the graph to see prices for any given day.
> https://www.buybitcoinworldwide.com/price/


OMG! I can't believe the rise!

1000 Bitcoins at .06¢ per Bitcoin, $60 investment.

1000 Bitcoins at today's value of nearly $38,000.00 per Bitcoin, now worth a staggering $38M.


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## OneEyedDiva (Jan 18, 2021)

Here's another "poor guy" who is willing to pay 71.7 million to his town if they will let him dig up the hard drive he accidentally discarded which is loaded with 7,500 Bitcoin. At the time the article was written, the value of those coins is $275 million! The owner had gotten in when they were worth far less. Unfortunately his offer was refused. Read on to find out how the mishap occured.
_"I offered to donate 25% or £52.5 million" — $71.7 million — "to the city of Newport in order to distribute to all local residents who live in Newport should I find and recover the bitcoins," Howells told CNN.
https://www.businessinsider.com/man-offers-council-70-million-dig-up-bitcoin-hard-drive-2021-1_


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## Aunt Marg (Jan 18, 2021)

OneEyedDiva said:


> Here's another "poor guy" who is willing to pay 71.7 million to his town if they will let him dig up the hard drive he accidentally discarded which is loaded with 7,500 Bitcoin. At the time the article was written, the value of those coins is $275 million! The owner had gotten in when they were worth far less. Unfortunately his offer was refused. Read on to find out how the mishap occured.
> _"I offered to donate 25% or £52.5 million" — $71.7 million — "to the city of Newport in order to distribute to all local residents who live in Newport should I find and recover the bitcoins," Howells told CNN.
> https://www.businessinsider.com/man-offers-council-70-million-dig-up-bitcoin-hard-drive-2021-1_


Boy, I remember the story about this guy's hard-drive ending up in the dump, but never heard about the offer he made.


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