Litecoin is one of the first open-source altcoins based on the original Bitcoin code. It was initially a strong competitor to the first cryptocurrency. However, as the cryptocurrency market expanded, Litecoin’s popularity gradually declined.
How not to handle your Bitcoins
Bitcoins are also money, not just files on a computer. If some people from our article understood this and learned how to handle electronic money correctly, their fortune today would be thousands of times greater. You may have already heard about some of them. We have selected the most striking cases of loss of cryptocurrencies due to their own carelessness or disbelief in the potential of bitcoin.
Pizza for $ 2.3 million
The first purchase for bitcoins in history was the purchase of two pizzas. The purchase amount was 10,000 BTC, which was then $41. If Lazlo Hanesh had waited for the bitcoin price to peak, his $41 would have turned into $2.3 million. Thus, the Czech enthusiast showed everyone that Bitcoin is a real means of payment. Since then, May 22 has been celebrated with pizza in the crypto community.
Millions in the trash
James Howels, an IT guy from the UK, mining bitcoins back in 2009. Having mined 7500 BTC, he had to stop the class due to his girlfriend's complaints about the noise from the computer. Soon, James abandoned mining, and the computer broke down and many components, incl. and the hard drive were thrown away. In 2013, the unlucky Howels saw a price chart when his bitcoins were worth about $6.5 million. Together with a friend, he went to the city dump, but the search did not end in anything good, because the disk was already deep under mountains of garbage.
Confused
One of the users mistakenly sent 800 bitcoins (worth $175,000) to the wallet of the bankrupt MtGox exchange. He previously used the services of the exchange and automatically chose the wrong wallet when making a transaction.
A spoon of honey in a barrel of tar
One student from Norway named Christopher Koch was lucky to find lost bitcoins after many years. In 2009, he bought 5,000 bitcoins for $27 for his thesis on cryptography, and after that he safely forgot about them. And in 2013, they already cost 885 thousand dollars, and Christopher was able to properly dispose of them by buying an apartment in Oslo for 20% of the amount received.
Recommended reading – How to store cryptocurrency
