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Researchers crack 11-year-old password, recover $3 million in bitcoin (arstechnica.com)

submitted 5 months ago by boem@lemmy.world to c/technology@lemmy.world

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[–] ShunkW@lemmy.world 44 points 5 months ago (4 children)

I forgot about Bitcoin when it was still mostly worthless. I got rid of my old laptop when it had a ton of issues. I had around 8 btc left in a wallet after spending several hundred on um... An ancient trade route lol.

[–] skyspydude1@lemmy.world 48 points 5 months ago (4 children)

This is also what a lot of people forget how it was at the time, thinking "if only" they had been early adopters and how they'd be millionaires. I was one, and had found it was great for traveling said "trade route", but also watched when Mt Gox collapsed and tanked the price 75% while stealing millions from people, and decided to take my winnings and leave the table.

How many people would see that shit and be like "Yes, I'm going to hold onto this for the next 10 years when it's worth something" and then sit through the number of 50+% loss events that happened?

You would have done exactly what 99% of early adopters did, and considered yourself incredibly lucky that you managed to make 1000% returns and sold.

[–] ShunkW@lemmy.world 11 points 5 months ago

Yeah it sat in my wallet for a long time and wasn't really gaining any value. I didn't have a need for the trade route anymore cuz I just used it once for some exotic spices that I didn't really care for. Mining wasn't an option for me because I didn't have a powerful computer as a broke college kid. So I just kinda checked out.

Still sucks to think about how I could have ended up with a great return, but hindsight is 20/20 and all that.

[–] iopq@lemmy.world 4 points 5 months ago

I still have bitcoins from 2011-2014 some of which I GPU mined. I'm patient. Of course I sold some, but I still have a couple full bitcoins. Not everyone sells the whole amount in one go

[–] YerbaYerba@lemm.ee 2 points 5 months ago

I recently got my first bankruptcy payout from the BTC I had in MtGox. I made more with them stolen as I certainly would have sold them at a lower price.

[–] Obi@sopuli.xyz 1 points 5 months ago

Bird in the hand is worth two in the bush.

[–] Fubarberry@sopuli.xyz 26 points 5 months ago

Yeah, I almost bought $20 worth of bitcoin when it was $.008 a bitcoin, which would be worth $168,000,000 today.

But realistically I would have cashed out a long time ago, so it would have been far less significant. I had some friends who bought at the same time though, one bought a car and the other got a healthy downpayment for his house.

[–] Kolanaki@yiffit.net 2 points 5 months ago* (last edited 5 months ago)

Silk Road was way better than Wish or Alibaba. 😌

[–] aStonedSanta@lemm.ee 1 points 5 months ago* (last edited 5 months ago)

Lmao same. I had 6. That hdd is long gone