Joe Bridge has bought two motorbikes, two boats and his first house with the $1 million-plus he made on bitcoin, but he doesn't recommend trying to replicate his success.
The 38-year-old became enamoured with the obscure art of coin mining in 2013 while living with his parents in Paddington, in inner Brisbane.
He was studying law and had no IT training, but ran software day and night on a network of three computers and 10 graphics cards that would win him litecoin and dogecoin.
So intense was the operation, pockets of the house reached 50 degrees Celsius and the power bills topped $600 a month despite a "fairly advanced solar system on the roof".
He mined enough litecoin and dogecoin to swap them for more than a dozen bitcoins.
For the next four years, they were just "lying around", unsecured, on a number of phones and computers.
The penny dropped that he was sitting on a gold mine at the start of summer 2017, their value had skyrocketed and even his mother began asking him across...
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https://www.abc.net.au/news/2022-07-01/bitcoin-price-cryptocurrency-investing...
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