Memory Stick Recovery

Posted by stainesrecovery on April 21st, 2014

Bit Coins and That Syncing Feeling!

You may have heard the tale of the man (an IT professional no less) who threw away his old laptop without removing the hard drive only to find that the 7,500 Bit Coins he had on there (after years of mining them) was worth something in the region of £5 million pounds? 


Well if you haven’t then you may not have heard of Bit Coins or might have heard of them and are only just getting into the way of using them.

Bit Coins are virtual currency that can be used to buy goods and services on the Internet for those companies that accept them (ourselves soon to be among them).  This digital currency or ‘crypto-currency’ can be used in the same way as real money only with a couple of exceptions. 

Number one there are no banks controlling the use of Bit Coins so no interest rates can be imposed on them although their value can rise and fall depending on the number in circulation and how they are spent. 

And number two unlike coins minted by the Bank of England and the Royal Mint there are a limited number; and in this instance when we say limited number we mean roughly 21 million. 

As we mentioned at the beginning of this article a man lost out on a veritable fortune because he threw away his drive and his laptop; presumably because one or the other didn’t work. 

He had mined these Bit Coins, which means that by using a complicated ‘mining’ setup he had generated a set number of Bit Coins at a time (normally 25) after his computer completed an algorithm and generated a 64-digit number. 

Similar problems have happened to other people who have tried what is known as ‘syncing’.  This is the process by which they try to regenerate their wallet and reconstitute the contents of their wallet with some degree of success or failure.  Sadly for the most part this course of action results in failure because of an inability to sync properly and this may because of a problem with the hard drive on which the information was originally stored.

We thoroughly recommend that if you store your Bit Coin wallet on your hard drive that you back up whenever you can.  Get into a routine of doing so at least once a week and in your absence have someone you trust carry out the task for you. 

We also recommend that before trying to use any of the ‘resyncing’ programs that are available you check the integrity of your hard drive.  It might be the case that there is nothing wrong with the Bit Coin wallet and the problem is hard drive related.   To which end we recommend that you contact us and speak to one of our experts before attempting any kind of resync which may result in the loss of your Bit Coins altogether. 

We can diagnose a hard drive problem over the telephone and will be able to offer advice and support on what to do next.  It will probably be the case that we can recover the data on your hard drive, including your Bit Coins, without any serious loss of investment.

After all we wouldn’t want you to find yourself in the same position as the poor unfortunate gentleman we told you about earlier.


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Joined: April 21st, 2014
Articles Posted: 1