$7.5 million worth of Bitcoin Lost
Bitcoin watchers have you heard the story of James Howells lost 7 thousand bitcoins? That is $7.5 million worth!
He inadvertently threw away $7.5 million worth of Bitcoin when he disposed of his old computer hard drive with 7,500 peices of this online cryptocurrency. This Welshman purchased bitcoin in 2009, soon after bitcoins became available, for less than $6. James Howells now is often found digging through a British dump.
Bitcoins Programmed To Self-Generate Until 21 Million Total
The full article in mashable explains that the anonymous creator has programmed Bitcoin to self-generate new units of the currency at a gradually decreasing pace during the coming years. Once 21 million bitcoins have been virtually minted, there will be no more. That means the 7,500 bitcoins tossed out by James Howell can never be replaced. Shocking!
There are numerous circumstances under which bitcoins can be permanently lost
His plight isn’t as unique as it first seems, though. There are numerous circumstances under which bitcoins can be permanently lost.
Keep your bitcoins safe. Here are my posts about how to get bitcoins free.