GreatAlbatross@feddit.ukM to United Kingdom@feddit.ukEnglish · edit-21 year agoMan spends 10 years persuading Newport council to let him dig through landfill site for £130m of buried bitcoins.www.mirror.co.ukexternal-linkmessage-square35fedilinkarrow-up1151arrow-down14
arrow-up1147arrow-down1external-linkMan spends 10 years persuading Newport council to let him dig through landfill site for £130m of buried bitcoins.www.mirror.co.ukGreatAlbatross@feddit.ukM to United Kingdom@feddit.ukEnglish · edit-21 year agomessage-square35fedilink
minus-squarenotabot@lemm.eelinkfedilinkEnglisharrow-up37·1 year agoThe bitcoin isn’t stored on the harddrive, it’s on the bitcoin blockchain, but he stored the key needed to access it on only that one harddrive. Without that no-one can access it.
minus-squareInfernal_pizza@lemmy.worldlinkfedilinkEnglisharrow-up8·1 year agoThat makes a lot more sense. Presumably you can back up the key however you like to avoid situations like this?
minus-squarenotabot@lemm.eelinkfedilinkEnglisharrow-up13·1 year agoAbsolutely, but do mske sure the backups are secure, anyone with access to them can move those bitcoins.
minus-squarecynar@lemmy.worldlinkfedilinkEnglisharrow-up4·1 year agoYou can. However, it’s easy to not bother, particularly when bit coin were a few pence each. Now the price is sky high, it’s suddenly worth millions.
minus-squareFrankTheHealer@lemmy.worldlinkfedilinkEnglisharrow-up5·1 year agoSo TLDR, he stored the password or an equivalent to the password on a hard drive, and this password is needed to access the Bitcoin
The bitcoin isn’t stored on the harddrive, it’s on the bitcoin blockchain, but he stored the key needed to access it on only that one harddrive. Without that no-one can access it.
That makes a lot more sense. Presumably you can back up the key however you like to avoid situations like this?
Absolutely, but do mske sure the backups are secure, anyone with access to them can move those bitcoins.
You can. However, it’s easy to not bother, particularly when bit coin were a few pence each. Now the price is sky high, it’s suddenly worth millions.
So TLDR, he stored the password or an equivalent to the password on a hard drive, and this password is needed to access the Bitcoin