Bitcoin, today people are well-versed with this term as it is in the news every now and then. Although Bitcoin has been in existence for over a decade, it has become famous in the last few years. Though many used to invest in Bitcoin, it did not attain the fame it enjoys now. Cryptocurrency is very popular now and is used for all kinds of online transactions. But many have made big mistakes while using the cryptocurrency, and it has costed them dearly. Talking about her tragic tale, a writer once disclosed how she had by mistake spent her Bitcoin fortune on the dark web to purchase drugs. While appearing on The Reply All podcast in 2018, Jia Tolentino recalled the unfortunate incident. Jia told the host of the podcast that she had once in 2012 purchased Bitcoin worth Rs. 5,814.84. And she had spent some of it buying drugs. But she was unaware of what her bitcoin earnings would have become in the next 6 years.
The Bitcoin she bought for Rs. 5,814.84 would have been worth Rs 33,162,977.43 in 2021, reportedly. The podcast support team successfully tracked Jia’s lost bitcoins. On calculating, the bitcoins were worth 15,482,011.50 in 2018.
According to a UNILAD report, Jia had spent the cryptocurrency to buy weed and MDMA. Therefore, she was just left with 0,00209 bitcoin.
Talking about the same on the podcast, Jia was very embarrassed. She said that it hurts to look at the presented figures. She further shared that her mother used to always tell her to not do drugs.
If Jia would have not spent money on drugs, she would have been currently owning 33,162,977.43 today.
What is Bitcoin?
In simplest terms, Bitcoin is a decentralised digital currency, which does not have a single administrator like a central bank. Bitcoin can be sent via a peer-to-peer bitcoin network without the need for a mediator. It is a cryptocurrency that can be used and traded, with proper planning, to make an online purchase.