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Bitcoins / Breaking News

Bitcoin investors who forget their passwords turn to Hypnotherapy

For those few lucky bitcoin investors who bought into the cryptocurrency when it first began, help is in sight if they have forgotten their passwords to their wallets.

A Hypnotist from South Carolina has begun offering to help those who have forgotten their passwords or misplaced their storage devices. The Hypnotist, Jason Miller, charges One Bitcoin with an additional 5% of the amount that is recovered. However, he claims that this rate is flexible.

“I’ve developed a collection of techniques that allow people to access older memories or see things they’ve put away in a stashed spot,” he told The Wall Street Journal.

Many investors who bought Bitcoin years ago are now in a painful limbo. Similar to how bank accounts are protected by passwords, Bitcoin wallets use keys to complete transactions and are guarded by complex security codes. Unfortunately for Bitcoin investors, there is no helpline to call for a password reset.

One of the unfortunate people to misplace part of their bitcoin is the CEO of SpaceX, Elon Musk. He recently tweeted about his misfortune alongside many others who have watched in dismay as the price of the Digital currency has surged to prices of more than $19,000 this year.

Another man who has been unlucky enough to lose their code is Mr. Phillip Neumeier. Back in 2013 he bought 15 Bitcoins for roughly $260 after toying with the idea of accepting the cryptocurrency on his e-commerce site. Currently, his wallets value will be nearly $300,000 and he is trying to recover his lost password. He has considered using hypnosis to jog his memory, however he decided to build a supercomputer instead which attempts to use “brute force” to crack the code.

His incredible creation stands at five-foot-tall and due to the heat which the system produces from his “brute force”, he has placed the computer in a 270 gallon tank of mineral water to disperse the heat. Mr. Neumeier says that it could take a few hundred years for the computer to run through every possible combination. “I should probably be about 332 years old by then—hopefully bitcoin will be worth something,” he said to the WSJ.

The most unfortunate of all is James Howells, an IT worker from Britain. He rather carelessly threw away a hard drive with 7,500 Bitcoins stored on it in 2013. James now searches a local landfill site where he believes it’s buried. His coins were worth $130 when he disposed of the storage device, now they are worth $126.7 million. Ouch.

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Frances is a writer for Crypto Daily, and she is responsible for bringing you the latest news on everything that is related to the Crypto world. She has a keen interest in Cryptocurrencies, and has many years of experience writing in all different roles. She is incredibly passionate about writing, and this combined with her interest into the finance, and virtual currency sector means that you are kept up to date with all of the latest news and information regarding all cryptocurrencies.