Top 5 Shocking Bitcoin Stories – The Merkle News

Bitcoin has been around for a few years, enough time for the cryptocurrency to tell us some unforgettable stories. These are shocking indeed as some of those involved in these events found themselves on a financial roller coaster that they never thought they would be on. Here are some of the most amazing bitcoin stories.

5. A man was robbed at gunpoint for $ 1,100 Bitcoin

A 28-year-old man from Brooklyn used Craigslist to sell bitcoins to someone close to him. He used the website to avoid the hassle of exchanging bitcoin online, but things didn’t go as planned. The stranger he was selling Bitcoin led him to a Honda where they were supposed to close the deal. In the car, a man hiding in the back seat pulled a gun at him and forced the 28-year-old to transfer the bitcoins, which were worth $ 1,100 at the time, to the robbers. Then the thieves grabbed the man’s cell phone and fled.

4. Bitcoin’s largest heist consisted of 800,000 bitcoins

bitcoin mtgox means

Mt. Gox was the largest bitcoin exchange in the world when the largest bitcoin raid in history took place. Allegedly, a hacker stole around 800,000 bitcoins from the exchange, which was equivalent to 400,000 US dollars at the time, enough to bring the exchange to its knees and force it into bankruptcy. Today the same 800,000 bitcoins would be worth over $ 880 million.

Mt. Gox CEO Mark Karpeles responded to the high profile robbery, which some found incredibly calm and vague:

We had weaknesses in our system and our bitcoins disappeared. We have caused trouble and inconvenience for many people and I am deeply sorry for what happened. “

The investigation, led by law enforcement, was carried out on the lack of evidence, but Mark Karpeles was charged with embezzlement.

3. Someone accidentally made $ 1.3 million buying a home

Home purchase profit

Bitpay CCO Sonny Singh told Bloomberg Markets, Bitcoin’s volatility once helped a man make $ 1.3 million while trying to buy a home. The man was supposed to pay $ 4 million for the property and expressed an interest in paying with Bitcoin. When the transaction began, one bitcoin was worth $ 750, but thanks to the volatility of the cryptocurrency, it was worth over $ 1,000 by the end of the transaction. That essentially meant that the buyer got a small gift simply because they chose to pay with Bitcoin.

2. The man who threw away 7,500 bitcoins

Man throws away bitcoin

Back when bitcoins were easier to find, a man named James Howells mined 7,500 bitcoins and then stored them on a hard drive. When he took them down in 2009, they weren’t worth much, so James didn’t use them. A few years later, while cleaning up his desk, he came across the hard drive and, without remembering the bitcoins on it, tossed it away and sent it to a landfill. He later tried to get it back, but couldn’t.

When thrown away, the bitcoins on the hard drive were worth over $ 600,000. Today, James’ bitcoins would be worth over $ 8 million.

1. A 15 year old invested $ 1,000 in Bitcoin and then sold those coins for $ 100,000

Teenage Profits Bitcoin

Erik Finman was introduced to Bitcoin in 2012 by his older brother, who sent him 0.2 Bitcoins so that he could get a feel for the cryptocurrency. Later his grandmother gave him $ 1,000 for Easter. Then 15-year-old Erik decided to buy bitcoins with the money and a year and a half later he sold those bitcoins for $ 100,000 – an incredible return on investment (ROI). The young entrepreneur decided to use his money to start Botangle.com, an online tutoring service.

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