Man Scores BIG With Forgotten Bitcoin Investment


The meteoric rise in bitcoin has meant that within the space of four years, one Norwegian man’s $27 investment turned into a forgotten $886,000 windfall.

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.

Bitcoins are stored in encrypted wallets secured with a private key, something Koch had forgotten.”* The Young Turks hosts Cenk Uygur and Ana Kasparian break it down.

*Read more here from Samuel Gibbs / The Guardian:
http://www.theguardian.com/technology/2013/oct/29/bitcoin-forgotten-currency-norway-oslo-home

Download audio and video of the full two hour show on-demand + the members-only post game show by becoming a member at http://www.tytnetwork.com/member-options/. Your membership supports the day to day operations and is vital for our continued success and growth.

Join The Young Turks Network mailing list http://www.tytnetwork.com/member-options/register-subscriber/

or Support The Young Turks by Subscribing http://www.youtube.com/user/theyoungturks

Like Us on Facebook: http://www.facebook.com/TheYoungTurks
Follow Us on Twitter: http://www.twitter.com/theyoungturks

Support TYT for FREE by doing your Amazon shopping through this link (bookmark it!) http://www.amazon.com/?tag=theyoungturks-20

Buy TYT Merch: http://theyoungturks.spreadshirt.com/

LEAVE A REPLY