A young South African electronics engineer spoiled his decision to delete a text document containing keys and password from an encrypted wallet containing around 20 bitcoins. The engineer said that the lost coins were mined more than ten years ago with a modified personal computer that “has an AMD Phenom X3 processor and 512 MB of RAM.”
Low BTC price and lack of stock exchanges
Mybroadband reports that the 24-year-old engineer, nicknamed Mark Michaels, “began mining cryptocurrency” after reading technology on the Internet. ” The engineer was only in seventh place at the time.
Although the report quotes Michaels, stating that he does not remember how long it took to mine BTC, it also notes that the value of bitcoin was still well below ($ 0.08 per BTC) the dollar mark. This low price, as well as the lack of cryptocurrency exchanges necessary to sell BTC, eventually lost interest in the then-teenage bitcoin miner. The engineer explained:
I ended up bored because he couldn’t do much else on his computer while he was busy and the bitcoin you mined was pretty much useless.
Failed recovery attempts
About seven years after the file is deleted, the engineer will try to recover the lost bitcoins. By then, the price of the cryptocurrency had risen to $ 1,000. The report quotes a young engineer recounting his first failed attempt to retrieve the coins. He said:
I remember collecting all the hard drives, memory cards, CDs, and DVDs in the house and going through them carefully. This took about a week. Tried running data recovery software on main hard drive, but it didn’t use much. By then, the drive had been formatted and reused multiple times.
Despite the loss of bitcoins, which are currently worth more than $ 900,000, and failed attempts to get them back, the engineer said he has since come to terms with his hasty decision. He also claims that he never started with cryptocurrencies to make money.
Mybroadband reports that the young engineer now has a variety of cryptocurrencies, but not in large quantities. You continue to mine ETH, but only if “your current equipment is not in use.”
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