Altcoins Talks - Cryptocurrency Forum
Archive => Sorting Box => Topic started by: end on May 07, 2021, 01:44:19 AM
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I once owned an electrum wallet and generated a seed phrase with 12 words. Currently I can't find my those words where I wrote them down and I didn't save it any where on my device. Before then I never bothered about those words because I felt once I have my userID and password I can assess my wallet from any device at any point in time not knowing the significance of this words
Could there be a recovery option for seed phrase or a seed generation alternative where I would be allowed to generate a new seed so as to access my lost account. I believe every data online should have a means on backup and recovery. Would seed phrase act differently? Why create a wallet for users if it doesn't have a way of helping them recover lost or stolen wallet.
In a cases where someone misplaces his seed phrase and still has his wallet accessible could there be a way of regenerating a new seed phrase for such wallet to avoid loosing the funds in the future. In all wouldn't it be more beneficial to store your coin with an exchange wallet where you wouldn't need to generate any form of seed phrase since all that is required is an email address and password.
so many has lost their coin just because of seed phrase. Which has made so many who bought coin as early as 2009-2018 who would have been celebrating their success frustrated. I know of a friend who was given 1000satoshi way back 2010 after he did a transaction and his client was unable to payback. His client ending up compensating him with the coin. But currently he cannot access his Trust wallet because he misplaced the seed phrase given. Does it really mean he has lost 1000 satoshi and can never recover it back if he can't find where he wrote them down?
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~ Could there be a recovery option for seed phrase or a seed generation alternative where I would be allowed to generate a new seed so as to access my lost account. I believe every data online should have a means on backup and recovery. Would seed phrase act differently? Why create a wallet for users if it doesn't have a way of helping them recover lost or stolen wallet.
Online data hosted on centralized servers could be recovered but not on decentralized networks. That's one of the reason why crypto and blockchain became revolutionary in the first place. It allows users to take 100% control and full responsibility of their funds.
~ In all wouldn't it be more beneficial to store your coin with an exchange wallet where you wouldn't need to generate any form of seed phrase since all that is required is an email address and password.
So many users have also given up on their funds or gave up their anonymity/privacy because centralized exchanges suddenly implemented customer verification. To this day, there's still a huge number of cryptos locked up because exchanges flagged various accounts for suspicious activity.
~ Does it really mean he has lost 1000 satoshi and can never recover it back if he can't find where he wrote them down?
(Most likely) Yes. I've read that some people managed to brute force it but that's a very tough task even if just one word is missing.
Be careful of people who will try to offer help in password or seed phrase recovery. There are many scammers lurking around sending messages to unassuming newbies.
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We talked too much about seed phrases, without them, we would lose all of our access to our personal wallet.
Protecting them is very important, because it is our property.
For newbies, I think it makes more sense to store crypto assets on exchanges. At least we get some help from the exchange.
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I understand you mate. Difficult to accept and forget the lost wallet with potential tokens in it. I think Zed0X told you everything correctly. If you did everything and still couldn't access the wallet. Though tough to say this, no other choice than to forget and move on. I know time will heal the missed big opportunity.
My one and only advice. Save every necessary details with regards to your wallet. Your keys is your wallet. I hope you will recover.
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Seriously most people are victims of this I don't really believe there is anything you can do to recover your lost seed phrase I was also having a troms wallet address which I was having some coins there later I misplaced the recovery phrase and all my funds are gone which is very painful. I believe there should be a way in which you can recover your seed phrase.
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Since Wu’s tweet this morning, Bitmain-owned Chinese mining farm Antpool has dropped by 1200 PH/s (quadrillion hashes per second), conceding top place to another Chinese mining pool called ViaBTC.