JohnQPublic
29th October 2013, 07:40 PM
From $27 To $886,000 In Four Years: Name The Investment (http://www.zerohedge.com/news/2013-10-29/27-886000-four-years-name-investment)Submitted by Tyler Durden (http://www.zerohedge.com/users/tyler-durden) on 10/29/2013 21:12 -0400
Not Tesla, Not Apple, Not Netflix... http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/10/20131029_BTC_1.jpg (http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/10/20131029_BTC.jpg)
Via The Guardian (http://www.theguardian.com/technology/2013/oct/29/bitcoin-forgotten-currency-norway-oslo-home?CMP=twt_gu),
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.
...
The meteoric rise in bitcoin (http://www.theguardian.com/technology/bitcoin) has meant that within the space of four years, one Norwegian man’s $27 investment turned into a forgotten $886,000 windfall.
...
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.
...
Koch exchanged one fifth of his 5,000 bitcoins, generating enough kroner to buy an apartment in Toyen, one of the Norwegian capital’s wealthier areas.
Not Tesla, Not Apple, Not Netflix... http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/10/20131029_BTC_1.jpg (http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/10/20131029_BTC.jpg)
Via The Guardian (http://www.theguardian.com/technology/2013/oct/29/bitcoin-forgotten-currency-norway-oslo-home?CMP=twt_gu),
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.
...
The meteoric rise in bitcoin (http://www.theguardian.com/technology/bitcoin) has meant that within the space of four years, one Norwegian man’s $27 investment turned into a forgotten $886,000 windfall.
...
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.
...
Koch exchanged one fifth of his 5,000 bitcoins, generating enough kroner to buy an apartment in Toyen, one of the Norwegian capital’s wealthier areas.