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Comment on Man spends 10 years persuading Newport council to let him dig through landfill site for £200m of buried bitcoins.

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notabot@lemm.ee ⁨1⁩ ⁨year⁩ ago

The bitcoin isn’t stored on the harddrive, it’s on the bitcoin blockchain, but he stored the key needed to access it on only that one harddrive. Without that no-one can access it.

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Infernal_pizza@lemmy.world ⁨1⁩ ⁨year⁩ ago
That makes a lot more sense. Presumably you can back up the key however you like to avoid situations like this?

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- notabot@lemm.ee ⁨1⁩ ⁨year⁩ ago
  Absolutely, but do mske sure the backups are secure, anyone with access to them can move those bitcoins.
  
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- cynar@lemmy.world ⁨1⁩ ⁨year⁩ ago
  You can. However, it’s easy to not bother, particularly when bit coin were a few pence each. Now the price is sky high, it’s suddenly worth millions.
  
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FrankTheHealer@lemmy.world ⁨1⁩ ⁨year⁩ ago
So TLDR, he stored the password or an equivalent to the password on a hard drive, and this password is needed to access the Bitcoin

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