In 2013, Wired Magazine famously destroyed 13 bitcoins – a decision that they would later come to regret. Back in 2013, when Wired made the decision, it was a bold move. While no one had any idea of the value of those bitcoins at the time, the magazine staff chose to stick to their guns and maintain the integrity of their journalistic decision.
At the time, mining a single bitcoin using an ordinary PC was estimated to take around 13 hours. It seemed like a waste of energy and computer power, especially when compared to downloading MP3 songs with viruses. Still, the magazine chose to remain true to their convictions and destroyed the bitcoins.
In hindsight, it would have been a much better idea to keep the bitcoins. After all, the value of bitcoin has skyrocketed since 2013. It could be argued that Wired chose integrity over money, a rare thing in today’s world. It’s unlikely that the owner of the magazine will ever regret that decision, as it’s a testament to honest journalism and business ethics.
However, it’s important to note that the bitcoins weren’t actually destroyed. They were simply lost, since bitcoin wasn’t worth anything back then. It’s a sad but true fact that those 13 bitcoins could have been worth a fortune today if they had been kept.
Still, we can take a lesson from Wired Magazine’s decision. In the face of a difficult decision, they chose to maintain their journalistic integrity rather than pursue a potentially lucrative opportunity. It’s a reminder that honesty and integrity should always come before money, no matter how lucrative the opportunity might be.