As the J Geils Band said “Love Stinks” and sometimes it can cost you the potential for a lot of money.
There was a post recently on Steemit by user “Store” in which he details how he lost 2,000 Bitcoins and the potential for $1.8 million at the peak of Bitcoin’s run. I know who Store is in the domaining community, and if he wants to leave a comment here that’s great, but I will not reveal his name.
From the article:
How To Lose 2000 BTC.
I don’t suggest you do this, but then again your opportunity to do this has also passed. I came across BTC in early 2011 on a hackers website. They were accepting donations in BTC, so I searched and found a BTC wallet service that just so happened to be giving away 2000 free BTC to sign up with their service.
I joined, and was promptly rewarded with 2000 BTC; which at the time couldn’t buy anything whatsoever. It was satisfying seeing these little digital nuggets appear in front of me, they were mine and I was their owner.
So how did I lose my precious new trinkets? The problem lies where most people find loss; relationships and love.
You see, when I found BTC I was using my ex-girlfriends computer. I often used her computer because I was searching the dark parts of the internet for information and could wipe it easily without the loss of anything important if infected with a virus. After all, she only used her computer to watch bad movies from the 80’s – 90’s on Netflix. It was 2011… that’s all Netflix had that was available!
By 2012 we were long broken up, and that BTC installation was long forgotten.
Read the full story on Steemit.com
You never made a copy of your bitcoin wallet? I guess you had little understanding of how one controls the value of the bitcoins they own.
If you left your credit cards in your ex-girlfriend’s apartment and things went seriously bad, you would cancel the cards and get new ones because you understand the way credit cards work.
You do not understand what gives control over a your bitcoins thinking it is the computer you used to get them through.
It is not the computer, it is the wallet. If you lost control of your wallet, you lost your wallet, whatever was in it is gone.
Sorry to do this Ray but please name the domainer who makes this claim. Why? I have to call BS on the entire story since he lied within the first paragraph. In early 2011 it was already worth .25-.50 per ($1000) and at or above par with USD within weeks and several times more then fluxed. So a crappy wallet sight was giving away several hundred to several thousands of dollars to sign up? BS! Further more he broke up with $10000-$20000 worth of coin in 2012 and just never cared at all LOL
Name the domainer because either they are lying through their teeth or made a mistake with the zeros.
https://bitcoinhelp.net/know/more/price-chart-history
Wait a second is this story from this domainers own site? Where they talk about buying low and selling high etc? Steemit? Ned Scott?
Ill give Scott the benefit of the doubt, he ment 2009/2010, it wasn’t 2000 it was 200 and the girlfriend Ill just give him the benefit of the doubt 🙂
I really want to give benefit of the doubt but even this has me confused, an interview he did with CoinReport.
https://coinreport.net/conversation-ned-scott-ceo-steemit/
As I read I came across this statement by him.
“I learned of Dan about two and a half years ago, which was about eight months after I stumbled upon Bitcoin.” (38 months from May 2016) See the issue?
So wait he stumbled upon Bitcoin in 12/13 but in the story on his site you quoted Ray it was early 2011?
He then is quoted as making this statement at the very end of the article.
“NS: Dan first learned of cryptocurrency in 2009; his mantra has long been that it’s a tool for securing our lives, liberties and property. I came across cryptocurrency in 2013;”
You see why when I started reading and his value of BTC was way off as if 2000 BTC didn’t buy anything in early 2011 I had to see what else was there….
Maybe Ned will reply, maybe not but I am how shall we say a skeptic. Good luck with your ventures Ned and always, always do your research 😉
It was me. I don’t dwell on it often, and you are right I may have gotten the years mixed up b/c I used a Dell during this time and I got my MBP in 2011. So it is very likely that it was 2009 or 2010. Also I’m not writing it as if I am Brian Williams (or maybe I am) because it’s a casual article about an experience I had.
I used to harvest data through Google for micro-testing security, and I came across the website of a hacker that accepted payment via BTC. I looked it up and setup a wallet that gave you free coins for joining.
I didn’t take it seriously b/c BTC was worthless then. So anyone questioning my “understanding” will have to think back to the beginning of BTC and understand that not many took any of this seriously. I casually set up a wallet.
As for my decision. I was making good money running a few FB sites I had going on, and I would not want to split money with a person who should never profit from anything I do – there are other ways to reach a few million, and I have that capability so I’m more than fine walking away from it. I had taken her to Vegas for her birthday on a whim, and it was a living nightmare. So someone can scoff at my decision, but you don’t know until you are in my shoes.
Glad the story was engaging for you JB. Cheers friend.
Thought the dates were mixed up, thanks for clarity 🙂
How can one little trip to Vegas turn into such a nightmare? What did she do that was so terrible?
As for the BTC, what happened? Did you wipe the computer and lose the only copy of the Wallet that way? Did anyone get the BTC?
There was a guy in Europe who accidentally threw away a computer with around $7 million in BTC on it. Went to a great big landfill.
Has anyone here tried steemit and got paid?
What are your reviews?
Bitcoins yet scare many
Bitcoin or another cryptocurrency will do to banking what Uber did to the taxi business. Load up now Imo. Blockchain technology is reinventing entire Industries as we speak.
The fact that blockchain technology is growing will not do a thing for the price of bitcoin so load up on what?
“Bitcoin or another cryptocurrency”
What part of that was confusing? Not necessarily bitcoin but for sure some cc.
Wow- You sure don’t understand much-id stay away from any of this if I were you. you just flat out don’t have the brains or knowledge of the subject. You will be broke soon.
Work for a bank? Of course just because blockchain tech is expanding it won’t necessarily influence the price of btc or any other cc. Both industries are still in their infancy. Maybe I shouldn’t have put blockchain and btc in the same comment. It obviously has confused you.
Oh and I am doing fine thanks very much.
So you said ‘load up now’ on what and how?
Spend a month or so reading cc forum articles and you will figure it out. As always don’t invest $$ you cannot afford to lose. 😉
Blockchain tech is NOT BTC, you can use chain tech without having to own BTC or it having any real value so the suggestion to buy up BTC because of the tech doesn’t jive, sorry
Blockchain IS the underlying tech for btc and if you read my comment I said btc or some other cc.
Many people reading this blog are domain investors. I guess my thought was that they may have the stomach for speculative cc investing. That’s all. Early times in the industry and I don’t think it’s going to go away. You just have to pick the right horse.