I recently read somewhere that around 4 million Bitcoins are considered lost due to similar reasons.
Is there any approximately precise analysis of how many such, forever-locked Bitcoins there are?
I don't think such thing exist. For example, there are 2 more recent research which state different thing.
1. IntoTheBlock state at least 29% of Bitcoin is lost. Source, https://cryptonews.net/news/bitcoin/21327812/ (https://cryptonews.net/news/bitcoin/21327812/).
2. Cane island state at least 1/3 of all Bitcoin is lost. Source, https://www.coindesk.com/markets/2022/11/21/more-than-50-of-bitcoin-addresses-are-now-in-loss/ (https://www.coindesk.com/markets/2022/11/21/more-than-50-of-bitcoin-addresses-are-now-in-loss/).
https://static1.squarespace.com/static/5d580747908cdc0001e6792d/t/5e98dde5558a587a09fac0cc/1587076583519/research+note+4.17.pdf (https://static1.squarespace.com/static/5d580747908cdc0001e6792d/t/5e98dde5558a587a09fac0cc/1587076583519/research+note+4.17.pdf)
Is there any approximately precise analysis of how many such, forever-locked Bitcoins there are?Did you actually mean to say "forever-locked Bitcoins" or you meant to say "forever-lost Bitcoin" ?, for if the former is actually what you meant to say, then it's completely different from what you are discussing, as locked does not mean lost, there is always the possibility that what is locked can be unlocked at any time.
15 years ago, 21 million Bitcoins sounded like a huge amount. Today, especially when we have greedy ETFs that buy everything on offer, it all looks much different.At this point, gone are the days when Bitcoin lost is a contribution to everyone as stated by Satoshi Nakamoto himself, but now with the ETF around and accumulating almost every day, it becomes very important to lay attention to what we considered as lost Bitcoin, this quest can lead us into asking a few questions so as for us to get more clarity such question as.
For a long time, not so much attention was paid to the security and storage of BTC, and I know of many stories about lost Bitcoins. Defective hardware, forgotten-lost passwords or private keys etc... I recently read somewhere that around 4 million Bitcoins are considered lost due to similar reasons.
Is there any approximately precise analysis of how many such, forever-locked Bitcoins there are?
Did you actually mean to say "forever-locked Bitcoins" or you meant to say "forever-lost Bitcoin" ?, for if the former is actually what you meant to say, then it's completely different from what you are discussing, as locked does not mean lost, there is always the possibility that what is locked can be unlocked at any time.
I recently read somewhere that around 4 million Bitcoins are considered lost due to similar reasons.We never know the precise number of lost bitcoin. We can estimate it but basically with estimation, don't expect accurate one.
Is there any approximately precise analysis of how many such, forever-locked Bitcoins there are?
lost or locked, call them what you want.Lost, locked or just inactive for a while but will be active in future.
15 years ago, 21 million Bitcoins sounded like a huge amount. Today, especially when we have greedy ETFs that buy everything on offer, it all looks much different.You must be an old user of crypto, because only in start 5 to 7 years, crypto was not that much famous, so people from that time zone must think of 21 million supply as a huge amount, while when I stepped into crypto, I thought this is not enough, because when I get to learn about blockchain and crypto technology, I realized, this is undervalued, we need more tokens, these tokens are not going to fulfil the need. But when I realized the total amount would be mined til 2140 then I calmed down, as Gen Z might not get to live till then.
For a long time, not so much attention was paid to the security and storage of BTC, and I know of many stories about lost Bitcoins. Defective hardware, forgotten-lost passwords or private keys etc... I recently read somewhere that around 4 million Bitcoins are considered lost due to similar reasons.
Is there any approximately precise analysis of how many such, forever-locked Bitcoins there are?
I myself have lost some amount of Bitcoin few years ago and up to now Never that I will recover that and will be lost forever (just wanted to contribute from my own experience)In the past, there were still many bitcoin wallets that were sometimes hacked and sometimes we forgot the secret code we had.
and also I believe that there will never be a legit details of how much bitcoin was lost , because even if the wallet is not moving for more than 10 years yet it may be an active wallet or sleeping one.
yeah , up to now I can check the wallet and the bitcoin still sits there and that is frustrating knowing that it is use to be my bitcoin and seeing the value of bitcoin now? damn that should be a big amount for me now comparing to how much it is when i lose it, while the value of bitcoin continues to increase day by day.I myself have lost some amount of Bitcoin few years ago and up to now Never that I will recover that and will be lost forever (just wanted to contribute from my own experience)In the past, there were still many bitcoin wallets that were sometimes hacked and sometimes we forgot the secret code we had.
and also I believe that there will never be a legit details of how much bitcoin was lost , because even if the wallet is not moving for more than 10 years yet it may be an active wallet or sleeping one.
So the bitcoins you own are still intact in that wallet address, which is what causes bitcoins to run out because a lot of the supply is trapped in an old wallet that can no longer be accessed.
yeah , up to now I can check the wallet and the bitcoin still sits there and that is frustrating knowing that it is use to be my bitcoin and seeing the value of bitcoin now? damn that should be a big amount for me now comparing to how much it is when i lose it, while the value of bitcoin continues to increase day by day.For what you lost, consider it already gone forever.
A very large number, this is what is called a very profitable price movement, unfortunately there are still many who don't understand and are afraid to buy Bitcoin. I didn't think that the iPhone 4S was worth the equivalent of 162 Bitcoins. If only I had bought Bitcoin at the price when the iPhone 4S was trending then I have made a lot of profit and become very rich.yeah , up to now I can check the wallet and the bitcoin still sits there and that is frustrating knowing that it is use to be my bitcoin and seeing the value of bitcoin now? damn that should be a big amount for me now comparing to how much it is when i lose it, while the value of bitcoin continues to increase day by day.For what you lost, consider it already gone forever.
Don't try to complicate your life with your calculation that how much does your past loss is at today price?
If you think your past loss this way, you will feel painful, more painful with time and it is not helpful at all.
If you spent your bitcoins, in another example, to buy luxury things like iPhone, years ago, don't consider it as your loss. You bought a luxury item, enjoyed it and now consider it as your loss, no life is not like this.
Cost of An iPhone in Bitcoin & Ether, Over The Years (https://www.coingecko.com/research/publications/the-cost-of-iphone-bitcoin-ether)(https://s3.amazonaws.com/assets.coingecko.com/coingecko/public/ckeditor_assets/pictures/8012/content_2023_iPhone_BTC.webp)
yeah , up to now I can check the wallet and the bitcoin still sits there and that is frustrating knowing that it is use to be my bitcoin and seeing the value of bitcoin now? damn that should be a big amount for me now comparing to how much it is when i lose it, while the value of bitcoin continues to increase day by day.I myself have lost some amount of Bitcoin few years ago and up to now Never that I will recover that and will be lost forever (just wanted to contribute from my own experience)In the past, there were still many bitcoin wallets that were sometimes hacked and sometimes we forgot the secret code we had.
and also I believe that there will never be a legit details of how much bitcoin was lost , because even if the wallet is not moving for more than 10 years yet it may be an active wallet or sleeping one.
So the bitcoins you own are still intact in that wallet address, which is what causes bitcoins to run out because a lot of the supply is trapped in an old wallet that can no longer be accessed.
Losing what you've worked for can be very painful, especially when you can still see it but can't feel or make use of it. I have also lost a good amount of coins in the past due to reckless decisions. These decisions still pain me a lot, but the most important thing is that I have learned not to make similar mistakes again. I think anyone who hasn't lost his/her Bitcoin accidentally should consider themselves very lucky, because even those who are careful also make mistakes.Exactly, regrets like that will often happen, but what we did in the past if we didn't do it, we know whether it will still survive today. As you have said, the past must be used as a very important lesson to become better than before.
Losing what you've worked for can be very painful, especially when you can still see it but can't feel or make use of it. I have also lost a good amount of coins in the past due to reckless decisions. These decisions still pain me a lot, but the most important thing is that I have learned not to make similar mistakes again. I think anyone who hasn't lost his/her Bitcoin accidentally should consider themselves very lucky, because even those who are careful also make mistakes.Exactly, regrets like that will often happen, but what we did in the past if we didn't do it, we know whether it will still survive today. As you have said, the past must be used as a very important lesson to become better than before.
Current bitcoin supply 21 million Bitcoins right now not reach yet, many people loss their bitcoin when price still cheapest with loss from website have been scam, loss access with hardware wallet until most of them forget which one place for storing their bitcoin.
Cost of An iPhone in Bitcoin & Ether, Over The Years (https://www.coingecko.com/research/publications/the-cost-of-iphone-bitcoin-ether)Yeah, but they can't change Bitcoin every year like they change their phones, and they need to have the latest model with 0.0010000% performance improvements ;)
-snip- many people loss their bitcoin when price still cheapest with loss from website have been scam, loss access with hardware wallet until most of them forget which one place for storing their bitcoin. Still not accurate update with how many bitcoin loss from market supply and seems more than 3% until 5% bitcoin gone based on reason above.For scam cases, the Bitcoin was stolen by bad people. But the stolen Bitcoin still exists, they didn't disappear. The bad people must put the Bitcoin in somewhere. They can send the Bitcoin some time to the market again if they want to sell the stolen Bitcoin.
If we see stolen bitcoins, they will use mixers or exchanges to launder money so that the traces of the bitcoin transactions they carry out are untraceable, so no one will know who the thief is.-snip- many people loss their bitcoin when price still cheapest with loss from website have been scam, loss access with hardware wallet until most of them forget which one place for storing their bitcoin. Still not accurate update with how many bitcoin loss from market supply and seems more than 3% until 5% bitcoin gone based on reason above.For scam cases, the Bitcoin was stolen by bad people. But the stolen Bitcoin still exists, they didn't disappear. The bad people must put the Bitcoin in somewhere. They can send the Bitcoin some time to the market again if they want to sell the stolen Bitcoin.
Yes, some Bitcoin is trapped on wallets because people lost the private keys to access the wallets. The Bitcoin cannot be sent to the market because people has no ability to access it anymore. For this case, we can assume the Bitcoin has been separated from the total circulating supply of Bitcoin.
~snip~
Is there any approximately precise analysis of how many such, forever-locked Bitcoins there are?
Exactly, regrets like that will often happen, but what we did in the past if we didn't do it, we know whether it will still survive today. As you have said, the past must be used as a very important lesson to become better than before.
I have not got any accurate data for the total Bitcoin that have been confirmed lost but at least it's for the better 8)
Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.
I believe that nothing is actually lost in the literal sense, because if I remember correctly, at some point in the future technology will reach a point where it will be able to save all those coins that are somehow stuck. I would speculate that today we cannot count on at least 2 million BTC, of which supposedly half of what was mined by Satoshi, and at least that much was "locked" or lost in the first years.I don't think we'll have that technology anytime soon: it could be a machine that can identify the private key of a BTC address by trying trillions of times, or a quantum computer that can reset the entire Bitcoin ledger. I don't expect we'll have to face such things, that will be the quantum resistance problem we've mentioned many times when talking about the security of Bitcoin's SHA-256 encryption algorithm.
Some will say that in the beginning Bitcoin was practically worthless, but it was also quite easy to mine - and in the first 4 years alone, 10+ million BTC were mined, which is almost half of everything that will ever exist. I think that the key is in those first 4 years, because in my opinion the most BTC was "lost" right then.
I don't think we'll have that technology anytime soon: it could be a machine that can identify the private key of a BTC address by trying trillions of times, or a quantum computer that can reset the entire Bitcoin ledger. I don't expect we'll have to face such things, that will be the quantum resistance problem we've mentioned many times when talking about the security of Bitcoin's SHA-256 encryption algorithm.
~snip~
I believe that nothing is actually lost in the literal sense, because if I remember correctly, at some point in the future technology will reach a point where it will be able to save all those coins that are somehow stuck. I would speculate that today we cannot count on at least 2 million BTC, of which supposedly half of what was mined by Satoshi, and at least that much was "locked" or lost in the first years.
Defective hardware, forgotten-lost passwords or private keys etc... I recently read somewhere that around 4 million Bitcoins are considered lost due to similar reasons.I don't think there will be such limit on how much probably Bitcoin loss will be. Moreover, some of the reasons are because of human error, as the main reason. Commonly, some of them are losing the private keys, or other important data to access the wallet. Or even, they also lost the devices of hardware wallet or other devices for storing the Bitcoin itself. I read this article, it actually shows that around 7.8M Bitcoins were lost.
Is there any approximately precise analysis of how many such, forever-locked Bitcoins there are?
I read this article, it actually shows that around 7.8M Bitcoins were lost.This is just guesswork, we cannot know the mumber of BTC's that are lost and i have been reading that it is ~ 4m BTC lost and now you say this article claims it is ~ 7.8m. Neither of them is accurate, there are so many addresses that coins have not moved out from for a long time, and people think the coins are lost, but the owners still have their keys and are just storing it for the long term. There would never be an accurate number of lost BTC's.
A simple fork would let you learn make an abandoned address rule come into effect in 2059.
any address 50 years old that has not had coins removed forfeits the coins which go back into recirculation as rewards.
A simple fork would let you learn make an abandoned address rule come into effect in 2059.
any address 50 years old that has not had coins removed forfeits the coins which go back into recirculation as rewards.
This is an excellent proposal, I don't know how technically feasible it is, but it is definitely worth considering.
This is an excellent proposal, I don't know how technically feasible it is, but it is definitely worth considering.I don't think so because it breaks the core value of Bitcoin Protocol. It's your private key, it's your bitcoin.
It will never happen!I agree with you.
Even if you increase the age, even if you decrease the amount taken by 50 or 90% no such proposal will ever be accepted.
The main problem is not what it does itself but the fact that everyone will see it as opening Pandora's box, if this happens then what's next? And people's imagination will run wild, what if next it's a mandatory annual tax of 0.1% on all coins?
Furthermore, you have Satoshi's own opinion, lost coins are a donation, he had no plan to recycle them.
-snip-50 years or 100 years is just going to be the maximum number or threshold that we think we're going to get there.
The threshold is hard to define too. 50 years, people have longer lifespan that it and even threshold is 100 years, there are people can live longer than that. More important, Bitcoin can be used as inherited asset for our children and family members, from generation to generation.
I believe that nothing is actually lost in the literal sense, because if I remember correctly, at some point in the future technology will reach a point where it will be able to save all those coins that are somehow stuck. I would speculate that today we cannot count on at least 2 million BTC, of which supposedly half of what was mined by Satoshi, and at least that much was "locked" or lost in the first years.
What do you mean by stuck coins?
Because no matter the technology advance, coins that have been mined by somebody and he has thrown away or truly lost the keys will never be recovered no matter what, this would be the same as hacking random address and if that would be indeed possible at one point then the value of all coins will be zero!
Recovering from damaged drives, encrypted wallets they can't remember the pass, wallets where the person has lost 2-3 words of the seed, other types of storage that have gone bad maybe, but outright lost coins with nothing to link them I don't see that happening.
The owners of these wallets may be intentionally holding them for some reasons, or there will be a chance for them to recover it with the technology development.What technological development? I get it that it is not possible for us to know the exact number of lost BTC's, as there might be long term investors that have not spent any of their sats and people may think the funds are lost. However, if you have lost your keys, there is no way to recover them, even with any development in technology.
What technological development? I get it that it is not possible for us to know the exact number of lost BTC's, as their might be long term investors that have not spent any of their sats and people may think the funds are lost. However, if you have lost your keys, there is no way to recover them, even with any development in technology.
I meant in general all the BTC that for one reason or another are currently not available to those who once had them, be it lost or forgotten keys. Maybe I misunderstood, but there were often discussions on BTT about the fact that with the advent of quantum computers, such coins might still be "saved".
I actually wouldn't want that to ever happen, because as you say, it would do more harm than good.
A simple fork would let you learn make an abandoned address rule come into effect in 2059.
any address 50 years old that has not had coins removed forfeits the coins which go back into recirculation as rewards.
This is an excellent proposal, I don't know how technically feasible it is, but it is definitely worth considering.
~snip~
As for quantum computers..meh, first we need to see one functional, then we need a working algorithm for it, then we need to not fork Bitcoin with new improved quantum resistant signatures like Lamport.
Also, with a quantum computer unspent coins will be the safest, the weak link is the exposed public key.
Researchers at the University of Sussex estimated in February that a quantum computer with 1.9 billion qubits could essentially crack the encryption safeguarding Bitcoin within a mere 10 minutes. Just 13 million qubits could do the job in about a day. Fortunately, the ability to deploy quantum computers with so many qubits still seems many years away. IBM unveiled its 127-qubit processor just last year, while a unit sporting 1,000 qubits is set to be completed by the end of 2023.
Well I am older I would be 102 years old in 2059 and likely not give a flying fuck. But I suspect this is going to happen down the road.All possibilities in cryptocurrency can happen because as technology grows, something new will be created. When the wallet you have is very old, we still won't get anything special, just like when you held Bitcoin in 2010 and sold it. In this year, the wallet is still a wallet whose only value is our assets.
All possibilities in cryptocurrency can happen because as technology grows, something new will be created. When the wallet you have is very old, we still won't get anything special, just like when you held Bitcoin in 2010 and sold it. In this year, the wallet is still a wallet whose only value is our assets.
~
There was a good article about how "strong" today's quantum computers are compared to what they should be in order to be a threat to Bitcoin at all, so about 2 years ago we were able to read the following:Quote from: https://decrypt.co/101340/bitcoin-quantum-computingResearchers at the University of Sussex estimated in February that a quantum computer with 1.9 billion qubits could essentially crack the encryption safeguarding Bitcoin within a mere 10 minutes. Just 13 million qubits could do the job in about a day. Fortunately, the ability to deploy quantum computers with so many qubits still seems many years away. IBM unveiled its 127-qubit processor just last year, while a unit sporting 1,000 qubits is set to be completed by the end of 2023.
The article says that something like that won't happen for at least another 10-20 years, but considering how today's technology is progressing, nothing can surprise me.
On traditional computers, it takes on the order of 2128 basic operations to get the Bitcoin private key associated with a Bitcoin public key, it is known for sure that it would take a sufficiently large quantum computer on the order of only 1283 basic quantum operations to be able to break a Bitcoin key.
For example, finding some data which hashes to a specific SHA-256 hash requires 2256 basic operations on a traditional computer, but 2128 basic quantum operations.although it does cut an enormous number by a huge margin, if we speak about that time in human life terms, no difference!
When there is a technology capable of breaking the security and encryption of Bitcoin, there will be a technology capable of protecting it. Technology works in both directions. I don't think we should worry about anything that some articles say, published precisely with the sole intention of clickbait. As for "recovering" Bitcoins, I think I once said that no one can know if Bitcoins that haven't been moved for ten years (for example) are really lost or if their owner doesn't want to move them, that's just another form of stealing.It's true, those who create articles just want to lure visitors to increase their website traffic. Bitcoin is still a technology that cannot be hacked easily, there are still many who are trying to try it but no one has succeeded. So I believe Bitcoin will be the security of the future.
All possibilities in cryptocurrency can happen because as technology grows, something new will be created. When the wallet you have is very old, we still won't get anything special, just like when you held Bitcoin in 2010 and sold it. In this year, the wallet is still a wallet whose only value is our assets.As time goes by, technology may develop and some changes may happen. This is something unavoidable, we must adapt with the development. Sure, the old wallets aren't special if there are no valuable coins in the wallets. :D Well, I've some old wallets with Bitcoin, but I filled the wallets not very early as you. I'm a bit surprised you have bought Bitcoin and filled your wallets in 2010. You become one of the early investors if you have started holding Bitcoin in 2010.
It's true, those who create articles just want to lure visitors to increase their website traffic. Bitcoin is still a technology that cannot be hacked easily, there are still many who are trying to try it but no one has succeeded. So I believe Bitcoin will be the security of the future.
If I am not mistakenly I think have came across post like that either here or other forum where a total number of bitcoin address with their holdings were Sum up, okay.. How do we consider a lost bitcoin; To me any bitcoin that is stored inside a wallet for about 4 years to 15 years or above can be considered lost bitcoin because the wallet is dead and hence no transaction has been carried out for these numbers of years is considered lost. Maybe whenever I comes across that post again I will come here to edit and update my post.
It's true, those who create articles just want to lure visitors to increase their website traffic. Bitcoin is still a technology that cannot be hacked easily, there are still many who are trying to try it but no one has succeeded. So I believe Bitcoin will be the security of the future.
The security of Bitcoin is something that has never worried me. As I said, if someday there was a technology capable of decrypting the algorithm, that same technology would be able to protect it. Everyone who has tried has failed, As we know, the security of Bitcoin depends on several factors, and vulnerabilities can always arise somewhere in the system, especially when new additions are implemented in the protocol, although as we already know the most common attacks are on exchanges or individual users, but not to the algorithm itself.
Does anyone believe that if SHA-256 could be hacked, the NSA (for example) wouldn't have done it already?. And before anyone asks, no, AI can't hack SHA-256 either. Let's use common sense.
Does anyone believe that if SHA-256 could be hacked, the NSA (for example) wouldn't have done it already?. And before anyone asks, no, AI can't hack SHA-256 either. Let's use common sense.Not today, but just look back in history.
I could be wrong in my perspective but sometimes it's also the way we can use to judge if the wallet is dead, like we can easily view them since there is probability that if a wallet remain inactive then is either the owner lost complete access or wallet has been misplaced. Any wallet that has not perform transactions for long can be considered lost since the wallet is not making any more, now there are some wallet that needs regular updates and changes are being made over the time. That's just my own way of analyzing a lost Bitcoin.If I am not mistakenly I think have came across post like that either here or other forum where a total number of bitcoin address with their holdings were Sum up, okay.. How do we consider a lost bitcoin; To me any bitcoin that is stored inside a wallet for about 4 years to 15 years or above can be considered lost bitcoin because the wallet is dead and hence no transaction has been carried out for these numbers of years is considered lost. Maybe whenever I comes across that post again I will come here to edit and update my post.
Could you tell me what your reasoning is for choosing a time range of 4 to 15 years?. Is it for any specific reason or is it random?. I have wallets (not Bitcoin) with funds for 10 years and I have not moved a single coin/token, not because its value is 0, but because I have decided so, although I must also say that the value in $ is small. I think no one can define (unless the owner of that wallet says so publicly and can prove ownership) when funds in a wallet are lost or not.
I still think no one can define something like that just by looking at when the last outgoing transaction was, if there was one. I think trying to interpret something like that is a waste of time, and depending on who (I'm not saying it's you) it's just an excuse to try to extract the funds if possible.
Does anyone believe that if SHA-256 could be hacked, the NSA (for example) wouldn't have done it already?. And before anyone asks, no, AI can't hack SHA-256 either. Let's use common sense.Not today, but just look back in history.
All encryptions get cracked at some point even the best ones, but nsa already have backdoor access for many encryptions, so they don't even need to crack them at all ;)
Exception is one encryption used for bitcoin, that makes you wonder if Satoshi had any connection with this agency when he made code for bitcoin.
As reminder, Bitcoin doesn't use encryption cryptography, but rather hash and signature cryptography.Cryptography is encryption by it's definition.
Encryption is a method of securing data by converting it into a code that can only be deciphered by someone with the correct key or passwordhttps://www.bitcoinlearning.org/bitcoin-encryption/
Base on misplacement of seed phrase, forgotten of passwords, and other negligence of the security details of different users in the cryptocurrency many bitcoins have lost and placed or hacked and every week people lost bitcoin either they sent it to a wrong address and others and with all those there is no accurate data for the total number of bitcoins that has lost in the space. Some people stored their bitcoins in a wallet that is not well secured so they also lost it from there and also in exchange which is not a good place to save or store coins. And I don't think anyone can give the accurate bitcoins that have been lost.This often happens, which is quite unfortunate, because sometimes, I personally am careless when it comes to storing some important assets or data. Moreover, the loss of data that is important to us is not only due to our carelessness which might happen to us but also due to other factors, such as unexpected things due to theft or natural disasters. But at least, if we can make some backups, this might help a little. But indeed, caution must be prioritized when we invest in crypto. It cannot be isolated, because after all, crypto is a digital product, and it will be very risky when we lay all things digitally only. For this reason, there are many tips and suggestions for us to store our assets in the form of hardware and offline, and for us to secure the data and devices truly safely and with a fairly strong backup.
As reminder, Bitcoin doesn't use encryption cryptography, but rather hash and signature cryptography.Cryptography is encryption by it's definition.
Satoshi used encryption public-private key encryption that was created as solution for double-spending problem.
That is why we can make trustless transaction without using third parties.QuoteEncryption is a method of securing data by converting it into a code that can only be deciphered by someone with the correct key or passwordhttps://www.bitcoinlearning.org/bitcoin-encryption/
down the road a new harder to crack blockchain wallet may be needed.
this is why I feel the old frozen wallets may be transferred out of their stale easier to crack wallets.
This often happens, which is quite unfortunate, because sometimes, I personally am careless when it comes to storing some important assets or data. Moreover, the loss of data that is important to us is not only due to our carelessness which might happen to us but also due to other factors, such as unexpected things due to theft or natural disasters. But at least, if we can make some backups, this might help a little. But indeed, caution must be prioritized when we invest in crypto. It cannot be isolated, because after all, crypto is a digital product, and it will be very risky when we lay all things digitally only. For this reason, there are many tips and suggestions for us to store our assets in the form of hardware and offline, and for us to secure the data and devices truly safely and with a fairly strong backup.Backups have worked a lot for me, in fact in 2017 When I started in this world of crypto, or what I did most was look for good crypto projects and I got to have many coins , when I started to see the taste for it one day My Altcoin wallet was Damaged , but I had Saved the file that I made and Backed up and this was enough for me to Recover my coins , I can't deny it, I was very scared, because the Truth is that it had cost me a lot of Effort to get some of these coins and I had bought too, but basically the things I did were too big for this , and from there I Started to see the backup copies and everything to save money with great care, in bitcoin things can also be like that, although I I kept Everything in various places pro sui perhaps something else would Fail.