Online auctions bitcoin

17 of currency four years ago is sitting on a small fortune now worth more than half a million pounds. The meteoric rise in the internet-based money has meant that within the space of online auctions bitcoin years, Norwegian Kristoffer Koch has made a huge profit, the Guardian reports.

5,000 bitcoins in 2009, after discovering them while writing a thesis on encryption. He forgot about them until he started seeing media coverage of the digital currency in April this year. Bitcoins are stored in encrypted wallets secured with a private key. Mr Koch had forgotten his password but when he eventually remembered it he was stunned by how much they had jumped in value. It said I had 5,000 bitcoins in there.