Wary of Bitcoin, they wipe their key in 2013 - BTC is now worth $750,000...

Journalists who didn’t believe in Bitcoin in 2013…

The article from 2013 was unearthed by a Reddit user. Seven years ago, journalists at Wired viewed Bitcoin mining with some suspicion. They had set up a mining machine in their offices, and watched it produce BTC. This was thanks to a group that still exists: the Eclipse Mining Consortium.

For the time, the numbers seemed quite reasonable. By 2021, they were dreamy:

With Eclipse, we mined a little over two bitcoins in about ten days. It didn’t consume much electricity: on average between 43 and 44 watts. That’s not even enough to warm up a cup of coffee.

The days when you could easily produce 2 BTC ($113,424 at the current price) in just over a week are long gone. However, we will forgive the journalists of Wired their ignorance, being neither seers nor augurs. But perhaps it would have been wise to keep access to the wallet, just in case.

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…and deleting private keys

What does indeed lend itself to a smile is Wired’s flippancy. The reporters wonder at the end of the experiment how to use the few hundred dollars they made (one BTC was worth about $327 at the time of the article).

They considered donating the money to a charity… Before opting for a more radical solution:

The world’s most popular digital currency . is nothing more than an abstraction. So we will destroy the private key used for our Bitcoin wallet. That leaves a growing pile of Bitcoin profit locked in a digital vault for all eternity – or at least until someone cracks the SHA-256 encryption that secures it.

Good news: in 2021 no one has yet managed to “crack” Bitcoin! Bad news: those 13.34 Bitcoins are now worth over $750,000, and they will never be accessible again. Let those who have never sold bitcoins too soon throw the first stone…

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About the author : Marine Debelloir

Wary of Bitcoin, they wipe their key in 2013 - BTC is now worth $750,000...

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Associate Editor on Cryptoast, I fell into the crypto-currency pot a few years ago. I’m passionate about the innovative technologies that stem from blockchain and I love to dig up the most juicy news to share with you.
All articles by Marine Debelloir.