Norwegian student Kristoffer Koch wrote a paper about encryption and Bitcoin cryptocurrency in 2009. To illustrate an example, he bought a 5000 virtual coins worth 150 NOK (about $26.60) supporting the paper with practical actions.
After passing the exam, Kristoffer completely forgot about the transaction. He remembered it only in April 2013, when he came across an article about the record exchange rates of Bitcoin.
Krisoffer remembered the old transaction he made and discovered that the coins he bought nearly for nothing now have a market value of about 5 million NOK. To recall the password of electornic purse Kristoffer spent the whole day.
The former student has already spent some part of suddenly descended money for the purchase of a luxury apartment in one of the most central areas of Oslo, Tøyen.
Bitcoin is a distributed peer-to-peer digital currency that functions without the intermediation of any central authority. The concept was introduced in a 2008 paper by a pseudonymous developer known only as “Satoshi Nakamoto”. Bitcoin is called a cryptocurrency since it is decentralized and uses cryptography to prevent double-spending, a significant challenge inherent to digital currencies.
