Search the Community
Showing results for tags 'â£4m'.
Found 3 results
Digital 'wallet' of 7,500 coins of the virtual currency believed to be beneath four feet of rubbish at south Wales recycling centre, and is worth more than £4.1 million A hard drive which holds more than £4 million worth of Bitcoins, the virtual currency, is buried beneath several feet of mud at a recycling plant in south Wales, it has been claimed. The computer hard drive was reportedly thrown away by its owner several months ago, along with the Dell laptop it came from, with 7,500 Bitcoins stored on it, at a waste recycling centre in Pillgwenlly, Newport. • What is Bitcoin and how does it work? According to a post on the social news website Reddit, the coins were collected or “mined” – a process where computer users solve complex mathematical equations and are rewarded with Bitcoins – when they were almost worthless. But after months of widespread media coverage, and a boost to the virtual currency’s legitimacy after a U.S. Senate committee hearing, the value of Bictoin has increased by more than 4,000 per cent, meaning the 7,500 coins stored on the abandoned hard drive are worth more than £4.1 million ($6 million). More: http://www.telegraph.co.uk/technology/news/10478871/Treasure-hunt-for-4m-worth-of-Bitcoins-buried-on-hard-drive-at-landfill-site.html