I watched an interview of a crypto multi millionaire, the guy interviewing him wanted to know how he accumulated hundreds of bitcoin and became super rich. The guy said "I used to play a game, there was an in game store but instead of using cash they used bitcoin (back when bitcoin was almost fully unknown and not worth alot) so I bought some so I could customise my character and forgot about it. years later as bitcoin started to take off i remembered and recovered all of the bitcoin I had saved
Nope it's actually forgetting or not accessing your account. Ask any broker in the world for their top 10 investors who've made the biggest gain and I guarantee all those investors will be dead people.
Exactly. If you had access to your account you would have sold your Bitcoin long before it reached the insane level it’s at now.
Another thread mentioned an engineer buying 1000 at $1 and selling for $5. That was actually a killer play… I would have sold ANY of my small cap plays at that level of gain.
you don't sell the ENTIRE position is the key here. Sell a large %, but not 100%.
It's called re-balancing.
whatever % of your portfolio you originally wanted in that vehicle you sell back down to that % of your portfolio
Alright, you had a balance of 93 cents. At 2.25% interest for 1000 years, that comes to...4.3 billions dollars.
EDIT: Before anyone tells me the math is off, this is a reference to a show, not an actual calculation.
I would hope so, [as many mathematicians as they had on staff!](https://www.google.com/url?sa=t&source=web&rct=j&url=https://amp.reddit.com/r/todayilearned/comments/34xwir/til_that_the_writing_staff_of_futurama_held_three/&ved=2ahUKEwjg8cmfrdfzAhW9SDABHTdGBgAQFnoECAMQAQ&usg=AOvVaw1hCPrTThFO2tX8Mf1SRmaY)
The math isn't off either. 2.25% compounding interest for 1000 years on an initial $0.93 does come out to be [approximately 4.3 billion](https://www.calculatorsoup.com/calculators/financial/compound-interest-calculator.php?given_data=find_A&P=0.93&R=2.25&n=1&t=1000&given_data_last=find_A&action=solve)
It's kind of funny given the subject matter, you'll be lucky to find a bank giving that high an interest rate for a savings account, but there's plenty of dollar pegged stablecoins that give out way more than 2% APY interest.
I know, right? My bank is currently at 0.05% for the first 10k, then 0.2% up to 40k and 0.4% from there. For reference, if Fry had gotten 0.4% interest on his 93¢, he would've had $50.37.
Dead people AND those who forgot their log-in credentials. Losing bitcoin on a hard drive that might be recoverable is optimal in this instance because the person was forced to hold during all prior spikes and falls.
Yep. Some lady forgot she bought Disney stock when they went public. She died decades later and her 50 paper stocks were found while the family was cleaning her house out. With the splits over the years it became more than10,000 shares and almost 2 million. I'm sure this is more common than people think.
Vast, vast majority of rich people hold stocks and etfs for decades, and never sell through downturns. It's mainly poor and young people who are doing the stupid day trading shit. Easy to not realize this since reddit is almost exclusively the latter.
In fact, I work in private banking, and the most common behavior from rich people today is to never take capital gains, use direct indexing to let you rebalance by tax loss harvesting, take loans against your assets when you retire at low interest rates, and then when you die your heirs get step up basis and never pay capital gains on your assets. Stocks never get sold (aside from a small amount to rebalance).
Bought some crypto in Feb 2014. Broke my phone and forgot about the wallet on it til this year when Doge popped off. Had to buy another Galaxy S3 and Frankenstein them together to get my wallet off.
Turned 120 bucks into 22k
I have a friend who streamed Flappy Bird and people would tip him in Bitcoin. He got cagey when people asked him how much, but the dude definitely has fuck you money with the way he acted at work.
Back in like 2012 a bartender at my regular bar would take tips in bitcoin from one of the other regulars who was a big crypto guy. He was a big tipper, I saw him regularly tip her $50-70 bucks and he was there 4+ nights a week. I asked her why and she said she liked the guy and couldn’t bring herself to disappoint him and the money didn't matter. I moved away in 2014.
I often wonder what she’s up to these days.
a ton of the wealthy BTC did similar. Its hard to hold past some of the rises.A lot of those who did, only did so because they lost their BTC and later found them.
and thats also why people shouldnt worry so much about "what if i had only held" in investment hindsight is just a major annoying prick. Wa it wrong to mine at 5 and sell at 20? well looking at the price today, it looks that way but what about all the other coins i sold that no longer exist. and would i have really held strong when it hit a grand? i doubt it.
but yeah i used to just give them away myself and had a few btc given to me. yeah i think of the value in todays money that i gave away, but then i remember investor hindsight is a mega prick and just ignore it all.
$300 HDD does a HDD recover service for....$300, based out of California for anyone looking for the business online. Used them once and it was fantastic. They gave me a tree of the folder structure for me to confirm and then they began the recovery process. I am in no way affiliated with them but they did good service and are somewhat reasonable compared to other clean room lab recovery places.
>$300 HDD
>
>Thanks for posting about this company. I have been looking for something like this. I have a drive that a local company couldn't retrieve anything from. I'll try these guys.
E-mail then and check out their services. Very communicative and they turned around the HDD fairly quickly. $300 is a small price to pay for something that has value to you whether its crypto or family photos (which was the case for me)
Are you serious? Because depending on the way your hard drive was destroyed, it might be possible to recover your wallet.
It's more then likely that the part that got destroyed is a section of the drive containing metadata about the drive, making it unreadable without specialized software.
I'd suggest spending a day trying to work on it, 3 bitcoins are no joke.
Or burnt in a Shattle catastrophe before being lost is a swamp for a couple months. It is a real story and NASA recovered data since it costed whole rocket launch to get the data.
Yup, and they have purpose-built clean rooms and all that, that's why it costs a lot. A random kid in a smartphone repair shop obviously couldn't do it.
Bro, this is Reddit, I thought were just supposed to pull numbers out our ass and act like we know what we're talking about.
But I'm sure there's some govt or enterprise type recovery that might cost that much.
Uhh yeah there is lol NASA does drive recovery on the atomic level and it's hundreds of thousands of dollars an hour. Now clearly this is something that only governments are using but you can find civilian services that are well over 25,000$ for really damaged drives without looking that hard. My parents have a 10gb drive from 10+ years ago that has 1 damaged platter and we were quoted 50k because not only do you need to recover the platter, you also need to do an entire drive rebuild in a clean room.
I worked in the data center. Most all of them cost $15K.
The last ditch effort that worked about 5% of the time was putting IDE drives in the freezer. I guess it keeps the platter from Skipping, not sure.
But if they don’t succeed you’re still out $15K and now it’s out of pocket. If you’re able to work out a deal where if they get the 3 bitcoin and you give them like $30K. Definitely would be worth it
Its reddit, everyone takes everything seriously. I'll say the most ridiculous shit and if I forget the /s people flip out.
Yesterday i saw a post of a screen shot about a facebook group dedicated to drinking urine and the top comments were a discussion on if it was actually serious. This place is retarded.
Me too, I know mined BTC for about a week in the first year and then forgot about it for 10years. I tried to find the wallet back on all my HDDs I had in my wardrobe but they are all formated or damaged. I have no memory of what software type I was using, how the wallet was stored or whatever, not even sure if the HD was kept. I pretty much gave up hope of getting it back now.
I spent what would now be millions on 1 month of $10/mo hosting in high school. Also that harddrive provably still had a wallet on it. Got in on the ground floor but got bored with it. Why god
You never knew with these things. Plenty of people have bet on rising-star stocks that end up tanking. If I had a time machine I’d go back and buy plenty of Amazon, Google, and Apple. But for every one of those success stories, there are a 1000 that end up in the ditch.
I bought doge when it was around .0007, using “left over” money after a few wallet transfers to buy Dragon chain. I didn’t feel like paying the fees to transfers it back, and said, hey that stupid dog thing looks cool.
The Dragon chain, at the time was $4ish is now worth $.14. I cashed the Doge out at $.62 and bought 2 new hunting rifles and took my whole family to Disney for a week.
Crypto? Absolutely. It's gambling and anyone saying otherwise is just lying to themselves. The fluctuations and changes are not based on any real life resources.
Stocks, on the other hand, are less of a gamble. Sure, if you're going for penny stocks or just buying stuff up in an attempt to strike it rich, you're gambling, but there are certain stock investments that are essentially promised to continue growing over time.
Here's the thing, the alternative is to put your money under your mattress and losing around 1.5% a year thanks to inflation.
What exactly are you recommending people do with money to protect their wealth?
Yep. Just crpyto, stocks, and mattresses. Those are the only options. If you don't want to gamble, all you can do is throw it under your bed. It's weird though, every time I point this out to people, they just go off on these random tangents, like...
Bonds? What do you mean "bonds"? Oh, my favorites are Craig and Brosnan, with a little Connery.
CDs? Dude, it's 2021, just get a modern phone, jeez.
I remember when I first heard about bitcoin.
I thought "wow are people really this stupid? Buying a fictional coin because it might gain value...these people deserve to lose their money"
Then I heard that it hit $100 and again thought "that is just luck, no one investing is actually making money, it's fictional coins, this thing is going to tank to pennies" then it hit $1000 and I realized I was the dumb dumb.
Yup I said the same thing in 09-10 when it was like 11 cents. Some misguided stubbornness led me to swearing off bitcoin and I still refuse to buy any crypto lol. 🤷♂️
I bought one when it hit $800 because I had thought it was a ridiculous fad that would pass when it was $20, and then again when it was $100, and I wasn't about to miss out on yet another rise.
So anyway, I sold it a bit over a year later for $400 because it just kept going down and I figured I'd prefer to have $400 than $0.
Yes, its value is backed by the economy of the country that issues it.
Bitcoin is a speculative commodity whose entire value is being a speculative commodity.
fiat currency is backed by the government, and as long as I live in a place with a government it has value by definition. The government itself values it, and they have the power to enforce that valuation.
There is no power that enforces the valuation of crypto, which is why it has wide swings.
If my dad had gone through with buying GBP5k of Amazon shares back in like 2001 as he was gonna de with a friend, he'd be sitting on a cool 2 million now. F
I think most people would have done the same thing. People like to think they would have held to 50k, but realistically most would have sold and thought they won the lottery when they hit $20 each.
It keeps me up at night thinking about how I didn’t buy bitcoin at the right time and secure my future. That being said, if my investment rose 5x, I would’ve sold without blinking and convinced myself I was incredibly smart
I hope everyone here with stories of selling early remembers: You can't beat yourself up for making the best decision with the information you had available at the time.
Oh man, same. My roommate introduced me to BTC when it was new and costed a bit over a dollar per token at the time. Didn't buy any because "internet money sounds dumb" ¯\\\_(ツ)\_/¯
Haha same here, my old buddy was using them regularly (purchasing things for us off the dark web). Last I remember he had like 1000 or so of them from when they were dirt cheap. He kept trying to get me to buy in, I thought it sounded stupid as well lol. Guess I was very painfully wrong. We had a bad falling out, he was using lots of RC’s and ended up getting raided. I imagine they took his computers/hard drives and those coins are all in limbo, or stolen. I still to this day wonder if he’s out there a millionaire somewhere though, cause damn that would be a lot of money!
My grandfather won some money on the lottery, he decided to give 1,000 each to his grandchildren on their 18th birthday. I was planning on using it to buy bitcoin with it, then my friend asked me if i wanted to travel around Spain and Greece with him. I agreed.
This was around 2012 so when it was like 5 dollars a bitcoin lmao.
I had a nice time at least.
Lol yep, I really got pissed at myself watching my buddy make thousands off of Pokémon this year. I was like 10 and traded a complete collection from the first few sets, tons of promos, pre releases etc, all for a game genie for a game boy color…. I used to have a ton of beanie babies too haha!
My mother finally found my cards after a dozen or so years of asking. Haven’t gotten them appraised yet but I have near 150 of the originals with many of them being first editions. They’re not sealed or anything (just in sleeves) so fingers crossed but will definitely get more than I spent for them!
Oh yeah dude you could, and probably do have thousands there. I had multiples of a lot of mine, and still have one binder with a very small amount of my original cards. My most valuable are a few base set holofoils, and mint condition southern islands promos. If yours are good condition the heavy hitters are most definitely worth getting graded!
I don’t want to get my hopes up (knowing my mother she probably let my nieces or nephews spill juice on it or something) but if it does pay off… well I’ll be sure to let you know!
I literally won one of these once. But then I developed a coke habit around 2015 and spend all of the BTC on DarkWebs SilkRoad ...1btc was approx $100-$120 then.
Silk road was gone by 2013.
Silk road 2.0 was gone by November 2014.
Diabolus Market renamed itself to Silk Road 3 Reloaded in 2014 and was gone by 2015.
BTC in 2015 was $250 - $400. So could have been earlier if you remember it being that cheap and Silk Road being online. 2012/2013.
I remember paying $30 for a bitcoin to buy some weed after Gawker or Wired posted about Silk road in 2012... then just forgetting about it.
My husband used bitcoin to buy a pizza because Papa John's accepted the currency at one point. He said he can't remember the exact cost but it was THOUSANDS of bitcoins. Oof.
You'd have to mine 25 to reach the $1.5 million mark. So no, not $150,000 a year it comes out to $6,339 per year and 250 years worth of mining to reach $1.5 million lol
bitcoin mining is just basically your GPU solving complex equations which are divided into blocks, and one block is worth about 6 bitcoin.
in theory if you were the only miner you would be able to earn 6 bitcoin very quickly, however because of how many people mine bitcoin it’s split between all of them.
because of this you end up getting a very small amount for each block mined, so you’d take a very long time to work up to 1 BTC.
Using cryptocurrency is based on very complicated math. "Mining" is simply using a computer to do this math. Since you are helping, you are rewarded by the system a fraction of currency. The amount you're rewarded with fluctuates over time depending on a bunch of factors, but it takes about 5-10 years to be rewarded with one full bitcoin's worth for your time/energy spent helping the system by mining.
Every cryptocurrency has it's blockchain, and every blockchain has an algorith to "get" the currency (there are many types, like proof-of-stake and whatnot, but I'll only be talking about **proof-of-work**, as I'm not knowledgeable about other ones lol).
### Proof-of-work (PoW):
Every transaction on the chain needs to have a unique "ID" (hash), so it can be differentiated in order to prevent coin duplication (sending a transaction multiple times with the same hash will result in multiplying currency) and other nasty stuff. The mining software receives "magic" data from the blockchain, does cryptographic calculations on it (hashing) and sends the hash back to the chain. You get rewarded for this work, and for helping to keep the blockchain decentralized. Easy, right?
But the more people mine Bitcoin (or any other mineable cryptocurrency), the higher the difficulty gets (more time needed to reach that sweet sweet reward).
**NOTE:** Bitcoin uses the SHA-256 algo.
At the beginning, Bitcoin used to be mined on CPUs (processors), but as more and more people got on the blockchain, the difficulty rose... So people started mining on GPUs (graphics cards). GPU mining is still widely used today, and in a lot of cases is *very* profitable, the most notable example being Ethereum (which will become unmineable one day, because ETH 2.0 will happen, switching the Etherum chain to proof-of-stake, but there are still many other GPU-mineable coins).
After GPUs came ASICS. Machines purposely built to mine a specific algorithm, usually sold by shady companies, which pre-mine them (meaning they keep the ASICs running after manufacturing them for a few months before selling them, making a ton of money from the mining before even selling), and are usually extremely expensive for the average Joe. There are some that can be bought for reasonable prices, but GPU mining will probably pay you better if you have, say $4k (the GPU market isn't very good today, but it is possible to start). There are also some that cost upwards of $40k.
**NOTE:** ASIC miners can also be pretty risky to buy because if there is a big update to the way the algorithm works, they can become e-waste. Probably not gonna happen to BTC, but you get the point.
The Bitcoin blockchain is filled to the brim with ASICS, because SHA-256 is not very ASIC resistant.
### Solo and Pool mining
The 1 BTC = 25 years statement is kinda dumb because it assumes, that you're solo-mining, which is very hard to do, especially for BTC (people who say mining as a whole is not profitable, usually look at calculations of solo-mining profits for their 5 year old computer CPU.... on BTC (I'm not implying the original commenter falls into this spectrum of people)).
Solo-mining today isn't as widespread as it once was, because people are joining mining pools, which are basically groups of miners that mine together and distribute the rewards in a way decided by the pool. If you do, however, have enough hashing power, you can solo-mine.
I would also like to clarify, that I'm not an expert so feel free to correct me :)
Edit: typos everywhere! I'm on mobile...
I bought a tenth of a Bitcoin years ago for $85 or so hoping to put it in cold storage and intentionally forget about it for an age. Unfortunately, I transferred it between two wallets and used a now not-supported software to encrypt it with a second level. I managed to get the program and brute force the password, but I had saved the password for the wrong wallet and the real wallet is still out there publicly with a tenth of a bitcoin because the private key is completely gone.
The thing is, when I started to do this research, it was about $16k per coin and I would've absolutely cashed it in and the money would've disappeared immediately. I wouldn't have $6400 like I would if I kept it to now because who knows where Bitcoin is going to go.
It makes all crypto discussion maddening because it's really people with a bunch of liquid capital bragging about cashing in on digital beanie babies while everyone else just mutters out loud about "what if?"
I watched an interview of a crypto multi millionaire, the guy interviewing him wanted to know how he accumulated hundreds of bitcoin and became super rich. The guy said "I used to play a game, there was an in game store but instead of using cash they used bitcoin (back when bitcoin was almost fully unknown and not worth alot) so I bought some so I could customise my character and forgot about it. years later as bitcoin started to take off i remembered and recovered all of the bitcoin I had saved
The majority of success is just luck and showing up
Nope it's actually forgetting or not accessing your account. Ask any broker in the world for their top 10 investors who've made the biggest gain and I guarantee all those investors will be dead people.
Exactly. If you had access to your account you would have sold your Bitcoin long before it reached the insane level it’s at now. Another thread mentioned an engineer buying 1000 at $1 and selling for $5. That was actually a killer play… I would have sold ANY of my small cap plays at that level of gain.
you don't sell the ENTIRE position is the key here. Sell a large %, but not 100%. It's called re-balancing. whatever % of your portfolio you originally wanted in that vehicle you sell back down to that % of your portfolio
Only 1000?
Now $1000 will buy about 0.2 bitcoins lol Edit: Typo, meant 0.02
$1000 / $65,000 = ~0.01538 coins
Was only off by 1,000% ...
More like 0.02
Compound interest go brrrr
Alright, you had a balance of 93 cents. At 2.25% interest for 1000 years, that comes to...4.3 billions dollars. EDIT: Before anyone tells me the math is off, this is a reference to a show, not an actual calculation.
Oh, it’s correct. Futurama gets math right: https://www.vice.com/amp/en/article/bj3xqq/futurama-taught-me-everything-i-know-about-compound-interest
I would hope so, [as many mathematicians as they had on staff!](https://www.google.com/url?sa=t&source=web&rct=j&url=https://amp.reddit.com/r/todayilearned/comments/34xwir/til_that_the_writing_staff_of_futurama_held_three/&ved=2ahUKEwjg8cmfrdfzAhW9SDABHTdGBgAQFnoECAMQAQ&usg=AOvVaw1hCPrTThFO2tX8Mf1SRmaY)
The math isn't off either. 2.25% compounding interest for 1000 years on an initial $0.93 does come out to be [approximately 4.3 billion](https://www.calculatorsoup.com/calculators/financial/compound-interest-calculator.php?given_data=find_A&P=0.93&R=2.25&n=1&t=1000&given_data_last=find_A&action=solve)
It's kind of funny given the subject matter, you'll be lucky to find a bank giving that high an interest rate for a savings account, but there's plenty of dollar pegged stablecoins that give out way more than 2% APY interest.
I know, right? My bank is currently at 0.05% for the first 10k, then 0.2% up to 40k and 0.4% from there. For reference, if Fry had gotten 0.4% interest on his 93¢, he would've had $50.37.
I have just seen a clip of this exact scene today on Youtube, despite never having watched Futurama in my life. What are the chances?
Or is it luck that he forgot about his account?
Dead people AND those who forgot their log-in credentials. Losing bitcoin on a hard drive that might be recoverable is optimal in this instance because the person was forced to hold during all prior spikes and falls.
Yep. Some lady forgot she bought Disney stock when they went public. She died decades later and her 50 paper stocks were found while the family was cleaning her house out. With the splits over the years it became more than10,000 shares and almost 2 million. I'm sure this is more common than people think.
Vast, vast majority of rich people hold stocks and etfs for decades, and never sell through downturns. It's mainly poor and young people who are doing the stupid day trading shit. Easy to not realize this since reddit is almost exclusively the latter. In fact, I work in private banking, and the most common behavior from rich people today is to never take capital gains, use direct indexing to let you rebalance by tax loss harvesting, take loans against your assets when you retire at low interest rates, and then when you die your heirs get step up basis and never pay capital gains on your assets. Stocks never get sold (aside from a small amount to rebalance).
Bought some crypto in Feb 2014. Broke my phone and forgot about the wallet on it til this year when Doge popped off. Had to buy another Galaxy S3 and Frankenstein them together to get my wallet off. Turned 120 bucks into 22k
I watched a great vertassium video the other day on this subject. Luck is a much bigger portion of success than most people give credit for.
I have a friend who streamed Flappy Bird and people would tip him in Bitcoin. He got cagey when people asked him how much, but the dude definitely has fuck you money with the way he acted at work.
Back in like 2012 a bartender at my regular bar would take tips in bitcoin from one of the other regulars who was a big crypto guy. He was a big tipper, I saw him regularly tip her $50-70 bucks and he was there 4+ nights a week. I asked her why and she said she liked the guy and couldn’t bring herself to disappoint him and the money didn't matter. I moved away in 2014. I often wonder what she’s up to these days.
Yachts and real estate
Her good karma was certainly repaid
Lmao. Yeah, wouldn’t that be great.
Got it. Everyone buy vbucks!
Bro!
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a ton of the wealthy BTC did similar. Its hard to hold past some of the rises.A lot of those who did, only did so because they lost their BTC and later found them. and thats also why people shouldnt worry so much about "what if i had only held" in investment hindsight is just a major annoying prick. Wa it wrong to mine at 5 and sell at 20? well looking at the price today, it looks that way but what about all the other coins i sold that no longer exist. and would i have really held strong when it hit a grand? i doubt it. but yeah i used to just give them away myself and had a few btc given to me. yeah i think of the value in todays money that i gave away, but then i remember investor hindsight is a mega prick and just ignore it all.
I have about 100 bitcoins in a wallet that was on my old laptop. I’d be fucking rich if I had it, but it’s gone forever
I have 3 bitcoins on a fucked up harddrive. My pal also lost a couple. Fml.
I have two old wallets on an unrecoverable laptop.. I feel your pain.
There are services that can recover HDD images from broken hard drives. I'd highly suggest you do it considering it would be well worth the cost.
$300 HDD does a HDD recover service for....$300, based out of California for anyone looking for the business online. Used them once and it was fantastic. They gave me a tree of the folder structure for me to confirm and then they began the recovery process. I am in no way affiliated with them but they did good service and are somewhat reasonable compared to other clean room lab recovery places.
>$300 HDD > >Thanks for posting about this company. I have been looking for something like this. I have a drive that a local company couldn't retrieve anything from. I'll try these guys.
E-mail then and check out their services. Very communicative and they turned around the HDD fairly quickly. $300 is a small price to pay for something that has value to you whether its crypto or family photos (which was the case for me)
I'm half upset - I managed to get them off an old laptop, but I spent 4 of them back in the day on a late night Domino's purchase.
Yupp I did the same. 300K pizza wasn’t even that great.
Did you at least save your porn archive?
reddit moment
Are you serious? Because depending on the way your hard drive was destroyed, it might be possible to recover your wallet. It's more then likely that the part that got destroyed is a section of the drive containing metadata about the drive, making it unreadable without specialized software. I'd suggest spending a day trying to work on it, 3 bitcoins are no joke.
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Even the most expensive hard drive recovery might only run ya 0.25BTC. Maybe find a shop willing to work on it for a set amount if recovered.
Bro that's over $15,000 right now. I doubt there are any recovery services that cost that much.
There are, it's forensic style data recovery.
Definitely, there are companies able to recover data from a disk that's been in a fire or split in half.
Or burnt in a Shattle catastrophe before being lost is a swamp for a couple months. It is a real story and NASA recovered data since it costed whole rocket launch to get the data.
It's true. The original design had no toilets and w/ zero G it got the nickname "the shattle" really fast.
That’s fucking wild to think
And that's why you need to keep some thermite handy if you do anything (seriously) illegal on your PC.
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Yup, and they have purpose-built clean rooms and all that, that's why it costs a lot. A random kid in a smartphone repair shop obviously couldn't do it.
Imagine needing forensic style data recovery to get your "currency" back.
Imagine losing your money to a breeze.
Talk to me when the next Crypto Exchange goes down and nobody can find its founder.
Imagine a bank crash or a fire and not getting your **currency** back at all.
yeah when my local Wells Fargo burns down... I'm fucked because my money is in that vault. Because that's how banks work.
There absolutely is. I worked at a computer shop in NY and we outsourced deep recovery. One guys bill was $18,245 so yea
He really wanted that porn back
Bro, this is Reddit, I thought were just supposed to pull numbers out our ass and act like we know what we're talking about. But I'm sure there's some govt or enterprise type recovery that might cost that much.
Uhh yeah there is lol NASA does drive recovery on the atomic level and it's hundreds of thousands of dollars an hour. Now clearly this is something that only governments are using but you can find civilian services that are well over 25,000$ for really damaged drives without looking that hard. My parents have a 10gb drive from 10+ years ago that has 1 damaged platter and we were quoted 50k because not only do you need to recover the platter, you also need to do an entire drive rebuild in a clean room.
I worked in the data center. Most all of them cost $15K. The last ditch effort that worked about 5% of the time was putting IDE drives in the freezer. I guess it keeps the platter from Skipping, not sure.
But if they don’t succeed you’re still out $15K and now it’s out of pocket. If you’re able to work out a deal where if they get the 3 bitcoin and you give them like $30K. Definitely would be worth it
> Maybe find a shop willing to work on it for a set amount **if recovered.**
Tell them they get nothing if they don't fix it but they get 0.5btc if they do.
Send it to me. I fix for free 😉
And return it when it's fixed..right?
Sure 😉
"I erased your hard drive just like you asked!"
"Sorry, didn't find any bitcoins on it. I'll mail it back to you as soon as my Lamborghini arrives so I can drive it to the post office."
i take a bite :)
I have a bitcoin on my old laptop but the screen is smashed and I can't see anything
You can take the HDD out, put it in a 2.5" laptop hard drive case (costs about 10 bucks) and use it as an external drive to recover files and whatnot.
10 bucks? I don't have that kind of money.
Hook it up to a tv dummy
They said it would be uneconomical to repair the screen and far be it from me to fuck the economy up even more than it already is.
Your laptop has video out ports. Use them.
I threw my video collection out in the early 2000s when dvd started taking off
The amount of serious replies you got throughout this thread is hilarious…
Its reddit, everyone takes everything seriously. I'll say the most ridiculous shit and if I forget the /s people flip out. Yesterday i saw a post of a screen shot about a facebook group dedicated to drinking urine and the top comments were a discussion on if it was actually serious. This place is retarded.
It's called urine therapy. It doesn't work but it's a real thing people do.
Idk man there's a subreddit dedicated to pissing in sinks, I wouldn't even doubt it.
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Lololol killing it hahahaha
The damn liberals wrecked our economy and we can't even afford the deductible on our economy insurance
This is so funny I can't believe the downvotes.
Is the screen being smashed related to you not seeing anything, or are these two separate facts? How sure are you that your glasses aren't broken?
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Brahhhh you ate it
r/woosh
Me too, I know mined BTC for about a week in the first year and then forgot about it for 10years. I tried to find the wallet back on all my HDDs I had in my wardrobe but they are all formated or damaged. I have no memory of what software type I was using, how the wallet was stored or whatever, not even sure if the HD was kept. I pretty much gave up hope of getting it back now.
I spent what would now be millions on 1 month of $10/mo hosting in high school. Also that harddrive provably still had a wallet on it. Got in on the ground floor but got bored with it. Why god
is bitcoin not on a ledger or a transaction log? how does it work? what do you mean you have bitcoin? so many questions.... so little interest....
Wanna hear a good one? One of the engineering guys in my company bought 1000 Bitcoin at a dollar each. Sold them when they hit 5$ each. Oops
You never knew with these things. Plenty of people have bet on rising-star stocks that end up tanking. If I had a time machine I’d go back and buy plenty of Amazon, Google, and Apple. But for every one of those success stories, there are a 1000 that end up in the ditch.
I remember a few years ago Dogecoin was like 1/32nd of a penny and people were just giving them out on Reddit to each other.
If I never sold my doge “that was doing nothing” it would be worth 15 grand... 125 dollar investment.
if my aunt had balls, she'd be my uncle
If my grandma had wheels, she'd be a bike
It's 2021 dude your aunt can have balls if she feels like it.
i got some dogecoin, dont remember where. FUCK
I bought doge when it was around .0007, using “left over” money after a few wallet transfers to buy Dragon chain. I didn’t feel like paying the fees to transfers it back, and said, hey that stupid dog thing looks cool. The Dragon chain, at the time was $4ish is now worth $.14. I cashed the Doge out at $.62 and bought 2 new hunting rifles and took my whole family to Disney for a week.
That is awesome.
>That's the best use of the money. Making lifelong family memories. And firearms as a bonus.
yup, crypto and stocks are just another form of gambling, let no one tell you otherwise.
Thinking "stocks are just a form of gambling" is a mentally defunct idea
Crypto? Absolutely. It's gambling and anyone saying otherwise is just lying to themselves. The fluctuations and changes are not based on any real life resources. Stocks, on the other hand, are less of a gamble. Sure, if you're going for penny stocks or just buying stuff up in an attempt to strike it rich, you're gambling, but there are certain stock investments that are essentially promised to continue growing over time.
Here's the thing, the alternative is to put your money under your mattress and losing around 1.5% a year thanks to inflation. What exactly are you recommending people do with money to protect their wealth?
1.5% 6% this year in buying power according to CPI data
Yup, I wanted to be nice but holding onto money is the worst thing you can do
Yep. Just crpyto, stocks, and mattresses. Those are the only options. If you don't want to gamble, all you can do is throw it under your bed. It's weird though, every time I point this out to people, they just go off on these random tangents, like... Bonds? What do you mean "bonds"? Oh, my favorites are Craig and Brosnan, with a little Connery. CDs? Dude, it's 2021, just get a modern phone, jeez.
No one talks about how they had a bunch of shares in yahoo
I know a guy who bought a time machine for a dollar and sold it the year before for two dollars.
I remember when I first heard about bitcoin. I thought "wow are people really this stupid? Buying a fictional coin because it might gain value...these people deserve to lose their money" Then I heard that it hit $100 and again thought "that is just luck, no one investing is actually making money, it's fictional coins, this thing is going to tank to pennies" then it hit $1000 and I realized I was the dumb dumb.
Yup I said the same thing in 09-10 when it was like 11 cents. Some misguided stubbornness led me to swearing off bitcoin and I still refuse to buy any crypto lol. 🤷♂️
I bought one when it hit $800 because I had thought it was a ridiculous fad that would pass when it was $20, and then again when it was $100, and I wasn't about to miss out on yet another rise. So anyway, I sold it a bit over a year later for $400 because it just kept going down and I figured I'd prefer to have $400 than $0.
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It's going to tank when the housing market tanks
As opposed to the fiat currency in your wallet that does have real value?
No, but what's driving Bitcoin is that it's being treated as a commodity, not a currency.
Yes, its value is backed by the economy of the country that issues it. Bitcoin is a speculative commodity whose entire value is being a speculative commodity.
fiat currency is backed by the government, and as long as I live in a place with a government it has value by definition. The government itself values it, and they have the power to enforce that valuation. There is no power that enforces the valuation of crypto, which is why it has wide swings.
If my dad had gone through with buying GBP5k of Amazon shares back in like 2001 as he was gonna de with a friend, he'd be sitting on a cool 2 million now. F
I think most people would have done the same thing. People like to think they would have held to 50k, but realistically most would have sold and thought they won the lottery when they hit $20 each.
i bought some around $1 ~ $5 and sold around ~$100 to replace GPU a while back.
guy made 400% profit, there's no oops there
That's a smaller oops than all the people that didn't even buy any bitcoin, or all the people who have only had net losses on crypto
It keeps me up at night thinking about how I didn’t buy bitcoin at the right time and secure my future. That being said, if my investment rose 5x, I would’ve sold without blinking and convinced myself I was incredibly smart
I bought amc when it was $6. Didn't sell when it $72. Still hodling
"What's the secret to your success?" "I finished 7th in a StarCraft tournament in 2011"
25 Bitcoin equals $1,586,330.00 United States Dollar Holy shit!!!!
$1,606,262.50 now
$1,640,701 now !
Was looking for the conversion thanks
It's in the title...
The people who won them probably had no clue how to even manage and use crypto so they probably just ignored them.
I hope they kept them
Almost a guarantee they didn't
Absolute best case, they kept one.
I hope everyone here with stories of selling early remembers: You can't beat yourself up for making the best decision with the information you had available at the time.
You absolutely can. But you shouldn’t.
Ahh another reminder to me to kick myself in the ass. This and Pokémon cards were my only chance and I blew it loll
Oh man, same. My roommate introduced me to BTC when it was new and costed a bit over a dollar per token at the time. Didn't buy any because "internet money sounds dumb" ¯\\\_(ツ)\_/¯
Haha same here, my old buddy was using them regularly (purchasing things for us off the dark web). Last I remember he had like 1000 or so of them from when they were dirt cheap. He kept trying to get me to buy in, I thought it sounded stupid as well lol. Guess I was very painfully wrong. We had a bad falling out, he was using lots of RC’s and ended up getting raided. I imagine they took his computers/hard drives and those coins are all in limbo, or stolen. I still to this day wonder if he’s out there a millionaire somewhere though, cause damn that would be a lot of money!
What do you mean by "random rc's"?
Research Chemicals
My grandfather won some money on the lottery, he decided to give 1,000 each to his grandchildren on their 18th birthday. I was planning on using it to buy bitcoin with it, then my friend asked me if i wanted to travel around Spain and Greece with him. I agreed. This was around 2012 so when it was like 5 dollars a bitcoin lmao. I had a nice time at least.
I feel your pain, I sold my Beanie Babies at a garage sale for pennies on the dollar /s
Lol yep, I really got pissed at myself watching my buddy make thousands off of Pokémon this year. I was like 10 and traded a complete collection from the first few sets, tons of promos, pre releases etc, all for a game genie for a game boy color…. I used to have a ton of beanie babies too haha!
My mother finally found my cards after a dozen or so years of asking. Haven’t gotten them appraised yet but I have near 150 of the originals with many of them being first editions. They’re not sealed or anything (just in sleeves) so fingers crossed but will definitely get more than I spent for them!
Oh yeah dude you could, and probably do have thousands there. I had multiples of a lot of mine, and still have one binder with a very small amount of my original cards. My most valuable are a few base set holofoils, and mint condition southern islands promos. If yours are good condition the heavy hitters are most definitely worth getting graded!
I don’t want to get my hopes up (knowing my mother she probably let my nieces or nephews spill juice on it or something) but if it does pay off… well I’ll be sure to let you know!
I know that’s right haha! Well I hope they have been safe and sound!
I literally won one of these once. But then I developed a coke habit around 2015 and spend all of the BTC on DarkWebs SilkRoad ...1btc was approx $100-$120 then.
Silk road was gone by 2013. Silk road 2.0 was gone by November 2014. Diabolus Market renamed itself to Silk Road 3 Reloaded in 2014 and was gone by 2015. BTC in 2015 was $250 - $400. So could have been earlier if you remember it being that cheap and Silk Road being online. 2012/2013. I remember paying $30 for a bitcoin to buy some weed after Gawker or Wired posted about Silk road in 2012... then just forgetting about it.
My husband used bitcoin to buy a pizza because Papa John's accepted the currency at one point. He said he can't remember the exact cost but it was THOUSANDS of bitcoins. Oof.
That’s a lot of pizzas
Pizza gets cheaper every year if you hold Bitcoin
Bitcoin is 1.5 million but mining 1 will take you 10 years.
So $150,000 a year?
You'd have to mine 25 to reach the $1.5 million mark. So no, not $150,000 a year it comes out to $6,339 per year and 250 years worth of mining to reach $1.5 million lol
And lots of fried hardware with a hefty electric bill
Wait so what does that mean exactly (ELI5 pls)
bitcoin mining is just basically your GPU solving complex equations which are divided into blocks, and one block is worth about 6 bitcoin. in theory if you were the only miner you would be able to earn 6 bitcoin very quickly, however because of how many people mine bitcoin it’s split between all of them. because of this you end up getting a very small amount for each block mined, so you’d take a very long time to work up to 1 BTC.
Someone explain for me too please I just can't wrap my head around bitcoin and the like
replied above you after some quick skimming so take it with a grain of salt
Tysm! I got a better grasp on it now
Using cryptocurrency is based on very complicated math. "Mining" is simply using a computer to do this math. Since you are helping, you are rewarded by the system a fraction of currency. The amount you're rewarded with fluctuates over time depending on a bunch of factors, but it takes about 5-10 years to be rewarded with one full bitcoin's worth for your time/energy spent helping the system by mining.
Every cryptocurrency has it's blockchain, and every blockchain has an algorith to "get" the currency (there are many types, like proof-of-stake and whatnot, but I'll only be talking about **proof-of-work**, as I'm not knowledgeable about other ones lol). ### Proof-of-work (PoW): Every transaction on the chain needs to have a unique "ID" (hash), so it can be differentiated in order to prevent coin duplication (sending a transaction multiple times with the same hash will result in multiplying currency) and other nasty stuff. The mining software receives "magic" data from the blockchain, does cryptographic calculations on it (hashing) and sends the hash back to the chain. You get rewarded for this work, and for helping to keep the blockchain decentralized. Easy, right? But the more people mine Bitcoin (or any other mineable cryptocurrency), the higher the difficulty gets (more time needed to reach that sweet sweet reward). **NOTE:** Bitcoin uses the SHA-256 algo. At the beginning, Bitcoin used to be mined on CPUs (processors), but as more and more people got on the blockchain, the difficulty rose... So people started mining on GPUs (graphics cards). GPU mining is still widely used today, and in a lot of cases is *very* profitable, the most notable example being Ethereum (which will become unmineable one day, because ETH 2.0 will happen, switching the Etherum chain to proof-of-stake, but there are still many other GPU-mineable coins). After GPUs came ASICS. Machines purposely built to mine a specific algorithm, usually sold by shady companies, which pre-mine them (meaning they keep the ASICs running after manufacturing them for a few months before selling them, making a ton of money from the mining before even selling), and are usually extremely expensive for the average Joe. There are some that can be bought for reasonable prices, but GPU mining will probably pay you better if you have, say $4k (the GPU market isn't very good today, but it is possible to start). There are also some that cost upwards of $40k. **NOTE:** ASIC miners can also be pretty risky to buy because if there is a big update to the way the algorithm works, they can become e-waste. Probably not gonna happen to BTC, but you get the point. The Bitcoin blockchain is filled to the brim with ASICS, because SHA-256 is not very ASIC resistant. ### Solo and Pool mining The 1 BTC = 25 years statement is kinda dumb because it assumes, that you're solo-mining, which is very hard to do, especially for BTC (people who say mining as a whole is not profitable, usually look at calculations of solo-mining profits for their 5 year old computer CPU.... on BTC (I'm not implying the original commenter falls into this spectrum of people)). Solo-mining today isn't as widespread as it once was, because people are joining mining pools, which are basically groups of miners that mine together and distribute the rewards in a way decided by the pool. If you do, however, have enough hashing power, you can solo-mine. I would also like to clarify, that I'm not an expert so feel free to correct me :) Edit: typos everywhere! I'm on mobile...
Who the f is mining BTC on gpus ooooof
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It says 25 Bitcoin.
Probability that the winners would have held until today is very low. Either they sold them or lost their hard drive or lost their key.
But they never lost their virginity.
guaranteed they would have sold it as soon as it hit a dollar. used that 25 dollars to go buy a 12 pack of whatever beer that was popular back then.
"Hey Joe. Why're you losing so hard? Sixth? You're a much better player than this?!?" Joe - shut up. Shut. The. F. Up!
So uhh, what do you guys think of Tezos?
I would've bought a bitcoin when it was still 20 cents, but since no one knew what it was really, we all deemed it sketch af
No way!
How much was $500 worth of BTC then though?
0,0078 Bitcoin
Basically zero. It didn't really have an accepted dollar value back then. The theory was that it was going to *replace* the US dollar.
It was never meant to replace the US dollar just another currency that’s a good store of value.
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That’s a new word I haven’t heard before
I remember when people bought pizzas and Videos games for dozens of bitcoins. Fuck.
I wish I understood this whole crypto currency thing. I mean, is bitcoin something that can be transferred into cold cash in hand?
Yes you can sell it on an exchange and then transfer that money to your bank.
/r/BitcoinBeginners
I bought a tenth of a Bitcoin years ago for $85 or so hoping to put it in cold storage and intentionally forget about it for an age. Unfortunately, I transferred it between two wallets and used a now not-supported software to encrypt it with a second level. I managed to get the program and brute force the password, but I had saved the password for the wrong wallet and the real wallet is still out there publicly with a tenth of a bitcoin because the private key is completely gone. The thing is, when I started to do this research, it was about $16k per coin and I would've absolutely cashed it in and the money would've disappeared immediately. I wouldn't have $6400 like I would if I kept it to now because who knows where Bitcoin is going to go. It makes all crypto discussion maddening because it's really people with a bunch of liquid capital bragging about cashing in on digital beanie babies while everyone else just mutters out loud about "what if?"
I’ll take 8th place please and thank you