Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Karl_BC on January 15, 2021, 11:12:55 AM
-
(https://i.imgur.com/VAHvzwS.jpg)
Hello everybody,
Just like real-world money, Bitcoins can also be lost.
But if they’re digital and have no physical entity, how is this possible? Can lost Bitcoins be retrieved?
Continue reading to find out how this happens and how you can protect yourself from losing your Bitcoins.
What are lost Bitcoins?
When Bitcoins stored in a digital or hardware wallet cannot be accessed anymore, they are considered ‘lost’. In this sense,
they are not missing but are just locked up in a wallet with no way of acquiring it.
How can Bitcoins be lost?
So how do you lose access to Bitcoin? One way is if you lose your private key. To ensure the system’s security, the network uses two keys:
private and public keys.
The public key is the address you give to others so they can send you Bitcoins. On the other hand, the private key is the address you use to
access the Bitcoins sent to you. The latter is the password that lets you use your funds for whatever purpose. It appears as a 62-character long address.
As long as no other person knows your private key, you’re the only one in control of your funds. On the other side of the coin,
if you lose your private key, no one can help you access your funds.
There are different reasons why Bitcoins are lost, and most of the time it’s either accidental or due to human error.
With the use of blockchain technology, Bitcoin fully guarantees the network’s security. All transactions uploaded in the blockchain are
immutable and once validated, there’s no way to change the data.
Bitcoin removes the need for institutions so no third party can access your precious information and control your funds.
While this sounds like utopia for some, it also comes with some drawbacks.
Since there are no banks, you are the only person in control of your funds. So if you forget your key or lose your wallet, there’s no customer service
you can call to help you. That’s why crypto people always emphasize the need for world-class security encryption when it comes to storing their funds.
Common ways Bitcoins become lost
Most Bitcoins become lost because of human error and/or mismanagement. Some forget to collect mining rewards while others
accidentally swap processing fees with the value of the transaction. No matter the reason, the fault usually lies in the owner and
not in the protocol itself. Other ways include theft and fraudulent attacks on exchange sites. But in these rare situations,
Bitcoins are not really ‘lost’ but stolen from their owners.
Below are some of the most common ways people lose access to their Bitcoins:
* Broken or lost devices
Aside from keeping Bitcoin in online wallets, they can also be stored away from the net on hard drives. In fact, this is supposedly
the safest way of storing your digital assets. However, if motherboards become fried or these devices break, then the owner loses
access to the Bitcoins stored inside and the data kept in them can no longer be retrieved.
In other cases, owners lose or change devices such as laptops and/or mobile phones and forget about the coins stored inside them.
One of the most popular lost Bitcoin incidents is James Howells’ in 2013.
After cleaning his house, he accidentally threw his hard drive into the trash along with 7,500 Bitcoins stored inside it.
Howell tried to retrieve the hard drive in the local landfill, but the law prohibited him from doing so.
Unfortunately, he never recovered his mined coins.
* Forsaken by their owners
Back when Bitcoin could still be mined using normal laptops, people minted numerous Bitcoins and just forget about them.
Only a few people knew about cryptocurrencies back then, and there was not a lot of practical use for it, so it was normal for people to buy
Bitcoins for fun and not do anything with them. These forgotten coins could be worth millions today, with Bitcoin’s current price trading at $18K.
If someone who owns cryptocurrency passes away without sharing their credentials with anyone, their Bitcoin is also lost for good.
That’s why some people recommend that crypto holders include their digital assets in their last will and testament, so their funds won’t go to waste.
* Sending funds to a wrong address
If you send your coins to the wrong public key or address, you won’t be able to retrieve them either. Since there is no personal information
attached to transactions, there’s no way to know who you accidentally sent your funds to. To make sure you’re sending your coins to the
right address, it’s best to scan the QR code rather than typing it in manually.
* Forgotten private keys and passwords
As previously mentioned, your private key is the only access point to your crypto treasure chest. And, unlike the keys to your house or car,
there’s no replacing it once it’s lost since each private key is fully unique.
How many lost Bitcoins are out there?
According to Chainalysis, an analysis firm specializing in all things related to blockchain, about 17% to 23% of all Bitcoins have
already become unrecoverable. An estimate of 2.78 million to 3.79 million BTC is forever lost to humanity. This amounts to around
300 inaccessible wallets containing anywhere between 1,000 to 10,000 Bitcoins.
But analysts predict that this number will start to drop as the technology surrounding crypto security improves. To prevent more
Bitcoins from being lost, it’s important to drive awareness about this phenomenon and discuss numerous methods on how to
strengthen existing security protocols.
Can lost Bitcoins be retrieved?
If you lose your private key, the odds of getting your lost Bitcoins back are close to impossible. However, if you lose your
Bitcoin because you misplaced a storage device, there’s still a chance of retrieving your funds. If your problem is a busted part in the device,
see if it can be fixed. Other than these possibly solvable situations, there’s no way to find lost Bitcoins once they are lost.
How to track down and find lost Bitcoins
Cases of lost coins and keys are common in the crypto world. To help these people find their lost funds, wallet hunters emerged
with a mission to find lost Bitcoins and forgotten keys. Individuals and companies work together with law enforcement agencies
and crypto holders to gather information about the possible locations of these coins.
Crypto hunters use advanced technology and hardware to accomplish this mission. Often, they’ll require any detail the owner
remembers about their private key. Then, they will run all the possible combinations which can break through the account
using a self-executing computer program.
These services usually cost anywhere between 5% and 40% of the recovered amount, though prices vary depending on who you ask.
Most wallet hunters offer a fixed price up front, while some request an additional fee once the funds are retrieved.
The success rate varies depending on the kind of service you hire and the client’s memory. Wallet Recovery Services, an online wallet
hunting company says their supercomputers can crack through 30% of all their client requests as long as they have a small piece of
helpful information about their key.
Another way of retrieving information is by hypnotherapy. Jason Miller, a hypnotist from South Carolina, uses a collection of
techniques that help people access older memories and remember important information such as their private keys or misplaced storage devices.
In exchange for his services, Miller charges 1 BTC per session and an additional 5% of the amount recovered.
He says 50% of all the inquiries he has received turned out to be successful.
Implications of lost Bitcoin
Since Bitcoin has a maximum supply of 21 million, having lost Bitcoins means that there will be fewer coins in circulation once
the maximum number has been mined. People predict all Bitcoins will be completely mined by 2140 or even earlier.
However, there’s no reason to panic since Bitcoin can be easily divided into smaller units, unlike fiat currencies.
How to prevent losing Bitcoins?
Take the extra step of securing your coins to avoid the frustration of losing your Bitcoins. Hardware wallets are the go-to
when it comes to storing your funds. For an extra layer of security, keep an offline copy of your private key,
but make sure you’re the only one who has access to it.
How about you, have you been lucky to keep all your coins?
Regards,
Karl
Bit(casino).io
Source: Bit(casino).io blog
-
Just recently, two articles resurfaced about millions worth of BTC "lost". One was a forgotten password to a device while the other was a lost device believed to be thrown in a dumpster.
The OP didn't say something about phishing and malwares. Some people have their wallets drained when their device was infected and/or mistakenly submitted their seed phrase.
-
In my case I haven't experience something like losing Bitcoins in wallets because I forget my private keys because I am vigilant to every transaction I made and storing my keys so I can retrieve my funds anytime anywhere as long as there is an internet connection. It is really the owners fault of losing funds due to irresponsible handling. Phishing and malwares are not considered as lost because that is hacking activity where funds are intentionally stolen by hackers.
-
In most cases, the loss of Bitcoin was caused by forgetting the private keys or passwords. Save the private keys or passwords are important things, you must ensure those are in the right place and easy to remember. You won't have a chance if lose them someday.
-
In most cases, the loss of Bitcoin was caused by forgetting the private keys or passwords. Save the private keys or passwords are important things, you must ensure those are in the right place and easy to remember. You won't have a chance if lose them someday.
Yes, it is true. the loss of Bitcoin was caused by forgetting the private keys or passwords. We must be careful to safe it. I think It is not mystery of lost bitcoins, But just human error. But that's normal bro.
-
This will remind us to always save our keys properly and make some back up of it to prevent of losing and possibly of being stolen from you. We should take good care of our assets as we are taking care of our future because we all knew that once our Cryptos will lost it will never get back.
-
Recently, people were talking about the case that someone in Ripple forgot the password of a hard drive containing 230M USD in Bitcoin. If he cannot remember the password, all of that BTC will disappear and the actual total supply of BTC will decrease.
The best way I can think of to protect my BTC assets is by using a hardware wallet or storing passwords in banks.
-
It is not only about BItcoin but also all other cryptocurrencies can also be lost. The most case is about to get or losing the private keys or passwords so that we cannot access our coins anymore. Here, this is sad because once we lose it, we may not be able to get it until we really have what we need.
-
We carry a lot of wallets a lot of the time but sometimes in a bit of a riddle air backups that we don’t save. But due to a little mistake, it is seen that the hundreds of dollars in it are not returned. So we will always save the important things for a while.
-
I think in the world of crytho and even other matters involving electronic media, including cellphones, computers, laptops and so on, the main factor is maintaining the key of entry. The security key must be strictly guarded. Because if not, then the assets inside can be stolen even from a distance ...
-
I always give the safest key to every wallet and electronic transaction tool that I have. Then I secured the entry key in a special place to avoid forgetting it or being stolen. So far, we have never experienced loss without cause
-
I always give the safest key to every wallet and electronic transaction tool that I have. Then I secured the entry key in a special place to avoid forgetting it or being stolen. So far, we have never experienced loss without cause
You seem very protective of the assets you have. But are you the only one who knows the entry key? Then what if there is an accident or bad thing that happens to you? Isn't this also the potential to lose it all?
-
I always give the safest key to every wallet and electronic transaction tool that I have. Then I secured the entry key in a special place to avoid forgetting it or being stolen. So far, we have never experienced loss without cause
You seem very protective of the assets you have. But are you the only one who knows the entry key? Then what if there is an accident or bad thing that happens to you? Isn't this also the potential to lose it all?
I am very careful about the assets that I have. But that doesn't mean only I know the key, but my immediate family also knows. They will easily find the assets that I protect, and I am sure they will not mess around with that
-
Compared to the past, Bitcoin is now more popular than the entire cryptocurrency. Bitcoin's security system has changed a lot compared to before. As far as I know now Bitcoin can be recovered. Because technology has changed with the passage of time.
-
Technologies develop with every passing day, I have little doubt that problem can be solved as well.
-
The biggest problem regarding the loss of Bitcoins and other cryptocurrencies has always been the same, how little care is taken with private keys. Many people store them in spreadsheets, others store them in email, others write them on paper, and most store them on devices that are later thrown away and thus lost. Unfortunately, many people don't realize the importance of private keys until they lose them for the first time.
-
Mystery to lose Bitcoin is very difficult to stop or very difficult to avoid unless we are very careful in maintaining the hardware wallet and the private key of every address that has Bitcoin.
I also often see on various Telegram channels that someone loses the Pass Phrase for 240 Bitcoins from the Faucet and if you can break the Phrase Pass we are given 50 Bitcoin in return but I think it's impossible to do it.
-
@aiviaa485 situations like that have been seen for many years. The problem I see is the same as always, how can that person prove that the wallet is their property?. There are several ways to test it, but as soon as you ask that question, most don't answer. If recovering the private keys of Bitcoin or any other cryptocurrency were that easy, people would spend the day stealing and all cryptocurrencies would disappear for lack of security.
-
Bitcoin has broken its resistance zone. Bitcoin prices have started to rise again. For the past few weeks, the price of Bitcoin has been fluctuating in the downtrend. I think farming is not very difficult to digest at the moment. So everyone hopes that the cryptocurrency market will be much better with the increase in the price of bitcoin.
-
(https://i.imgur.com/VAHvzwS.jpg)
Hello everybody,
Just like real-world money, Bitcoins can also be lost.
But if they’re digital and have no physical entity, how is this possible? Can lost Bitcoins be retrieved?
Continue reading to find out how this happens and how you can protect yourself from losing your Bitcoins.
What are lost Bitcoins?
When Bitcoins stored in a digital or hardware wallet cannot be accessed anymore, they are considered ‘lost’. In this sense,
they are not missing but are just locked up in a wallet with no way of acquiring it.
How can Bitcoins be lost?
So how do you lose access to Bitcoin? One way is if you lose your private key. To ensure the system’s security, the network uses two keys:
private and public keys.
The public key is the address you give to others so they can send you Bitcoins. On the other hand, the private key is the address you use to
access the Bitcoins sent to you. The latter is the password that lets you use your funds for whatever purpose. It appears as a 62-character long address.
As long as no other person knows your private key, you’re the only one in control of your funds. On the other side of the coin,
if you lose your private key, no one can help you access your funds.
There are different reasons why Bitcoins are lost, and most of the time it’s either accidental or due to human error.
With the use of blockchain technology, Bitcoin fully guarantees the network’s security. All transactions uploaded in the blockchain are
immutable and once validated, there’s no way to change the data.
Bitcoin removes the need for institutions so no third party can access your precious information and control your funds.
While this sounds like utopia for some, it also comes with some drawbacks.
Since there are no banks, you are the only person in control of your funds. So if you forget your key or lose your wallet, there’s no customer service
you can call to help you. That’s why crypto people always emphasize the need for world-class security encryption when it comes to storing their funds.
Common ways Bitcoins become lost
Most Bitcoins become lost because of human error and/or mismanagement. Some forget to collect mining rewards while others
accidentally swap processing fees with the value of the transaction. No matter the reason, the fault usually lies in the owner and
not in the protocol itself. Other ways include theft and fraudulent attacks on exchange sites. But in these rare situations,
Bitcoins are not really ‘lost’ but stolen from their owners.
Below are some of the most common ways people lose access to their Bitcoins:
* Broken or lost devices
Aside from keeping Bitcoin in online wallets, they can also be stored away from the net on hard drives. In fact, this is supposedly
the safest way of storing your digital assets. However, if motherboards become fried or these devices break, then the owner loses
access to the Bitcoins stored inside and the data kept in them can no longer be retrieved.
In other cases, owners lose or change devices such as laptops and/or mobile phones and forget about the coins stored inside them.
One of the most popular lost Bitcoin incidents is James Howells’ in 2013.
After cleaning his house, he accidentally threw his hard drive into the trash along with 7,500 Bitcoins stored inside it.
Howell tried to retrieve the hard drive in the local landfill, but the law prohibited him from doing so.
Unfortunately, he never recovered his mined coins.
* Forsaken by their owners
Back when Bitcoin could still be mined using normal laptops, people minted numerous Bitcoins and just forget about them.
Only a few people knew about cryptocurrencies back then, and there was not a lot of practical use for it, so it was normal for people to buy
Bitcoins for fun and not do anything with them. These forgotten coins could be worth millions today, with Bitcoin’s current price trading at $18K.
If someone who owns cryptocurrency passes away without sharing their credentials with anyone, their Bitcoin is also lost for good.
That’s why some people recommend that crypto holders include their digital assets in their last will and testament, so their funds won’t go to waste.
* Sending funds to a wrong address
If you send your coins to the wrong public key or address, you won’t be able to retrieve them either. Since there is no personal information
attached to transactions, there’s no way to know who you accidentally sent your funds to. To make sure you’re sending your coins to the
right address, it’s best to scan the QR code rather than typing it in manually.
* Forgotten private keys and passwords
As previously mentioned, your private key is the only access point to your crypto treasure chest. And, unlike the keys to your house or car,
there’s no replacing it once it’s lost since each private key is fully unique.
How many lost Bitcoins are out there?
According to Chainalysis, an analysis firm specializing in all things related to blockchain, about 17% to 23% of all Bitcoins have
already become unrecoverable. An estimate of 2.78 million to 3.79 million BTC is forever lost to humanity. This amounts to around
300 inaccessible wallets containing anywhere between 1,000 to 10,000 Bitcoins.
But analysts predict that this number will start to drop as the technology surrounding crypto security improves. To prevent more
Bitcoins from being lost, it’s important to drive awareness about this phenomenon and discuss numerous methods on how to
strengthen existing security protocols.
Can lost Bitcoins be retrieved?
If you lose your private key, the odds of getting your lost Bitcoins back are close to impossible. However, if you lose your
Bitcoin because you misplaced a storage device, there’s still a chance of retrieving your funds. If your problem is a busted part in the device,
see if it can be fixed. Other than these possibly solvable situations, there’s no way to find lost Bitcoins once they are lost.
How to track down and find lost Bitcoins
Cases of lost coins and keys are common in the crypto world. To help these people find their lost funds, wallet hunters emerged
with a mission to find lost Bitcoins and forgotten keys. Individuals and companies work together with law enforcement agencies
and crypto holders to gather information about the possible locations of these coins.
Crypto hunters use advanced technology and hardware to accomplish this mission. Often, they’ll require any detail the owner
remembers about their private key. Then, they will run all the possible combinations which can break through the account
using a self-executing computer program.
These services usually cost anywhere between 5% and 40% of the recovered amount, though prices vary depending on who you ask.
Most wallet hunters offer a fixed price up front, while some request an additional fee once the funds are retrieved.
The success rate varies depending on the kind of service you hire and the client’s memory. Wallet Recovery Services, an online wallet
hunting company says their supercomputers can crack through 30% of all their client requests as long as they have a small piece of
helpful information about their key.
Another way of retrieving information is by hypnotherapy. Jason Miller, a hypnotist from South Carolina, uses a collection of
techniques that help people access older memories and remember important information such as their private keys or misplaced storage devices.
In exchange for his services, Miller charges 1 BTC per session and an additional 5% of the amount recovered.
He says 50% of all the inquiries he has received turned out to be successful.
Implications of lost Bitcoin
Since Bitcoin has a maximum supply of 21 million, having lost Bitcoins means that there will be fewer coins in circulation once
the maximum number has been mined. People predict all Bitcoins will be completely mined by 2140 or even earlier.
However, there’s no reason to panic since Bitcoin can be easily divided into smaller units, unlike fiat currencies.
How to prevent losing Bitcoins?
Take the extra step of securing your coins to avoid the frustration of losing your Bitcoins. Hardware wallets are the go-to
when it comes to storing your funds. For an extra layer of security, keep an offline copy of your private key,
but make sure you’re the only one who has access to it.
How about you, have you been lucky to keep all your coins?
Regards,
Karl
Bit((casino)).io
Source: Bit((casino)).io blog
We all know that Bitcoin was born in 2009 in cryptocurrency. A lot of bitcoins have been created and lost a lot since the creation of Bitcoin. Now I am talking about whether there is any limit to the creation of this bitcoin that so much will be created then it will not be. In fact, if there is a limit to it, then one day it will be seen that a lot of bitcoins have been lost and thus losing bitcoins will one day run out.
-
Unfortunately, many people don't realize the importance of private keys until they lose them for the first time.
As always, " Not your keys, Not your Cryptos" which is the reality of it. And everything is right about storing private key or memoric phrases into those places which can be cracked easily. That's why we should use seed board (stainless steel plate to write down seed words or private key) to write that down and keep that into a safe place.
-
There are so many missing Bitcoins that I believe they could not be found if the owner died.
If this continues then the supply will continue to decrease and the price of Bitcoin will continue to increase.That's why we have to have a family that can be trusted and provide a password or security code and then create wills to solve this problem. because as we know the price of Bitcoin is very expensive and is a very valuable digital asset.
-
In fact, the biggest problem in cryptocurrency is that sometimes people forget their backup or password in a wallet despite having a lot of dollars. Maybe there is no limit to how much bitcoin can be lost in this way. That's why everyone should keep a backup key and password in a good place, whether it's Bitcoin or any other coin in the wallet.
-
This time no one know that how they recover the lost BTC and also the other coins but in future may be the market runner will know that how to recover the lost BTC trick and peoples will recover the loss.
-
Unfortunately, many people don't realize the importance of private keys until they lose them for the first time.
As always, " Not your keys, Not your Cryptos" which is the reality of it. And everything is right about storing private key or memoric phrases into those places which can be cracked easily. That's why we should use seed board (stainless steel plate to write down seed words or private key) to write that down and keep that into a safe place.
I have my private keys engraved on high-density steel and kept inside a safe box. It seems to me one of the simplest ways that exist, but at the same time one of the safest, no one except me has access to that safe box, only my family would have access in case something serious happened to me.
-
Losing coins because of losing the private keys, password, phrase, and other data often happens. And they are going to be lost coins. For Bitcoin itself, there have been several cases with high numbers of losing Bitcoin. There will be no recovery if it happens. And it may be not taken again in the wallet.
-
I know that if Bitcoin is lost now, it can be recovered. Because I've read a post like this before. However, I do not confirm whether Bitcoin can be recovered.If anyone knows about it, discuss it here because there are many who don't know much about it yet.
-
the supply will continue to decrease and the price of Bitcoin will continue to increase.That's why we have to have a family that can be trusted and provide a password or security code and then create wills to solve this problem. because as we know the price of Bitcoin is very expensive and is a very valuable digital asset.
-
To avoid these losses that can cost us a lot of money, it is best not only to make several backup copies of our private keys, we also have to have those copies in different places. And that only the people of our total confidence know where they are, in case something happens to us and we cannot recover them. Only then can we avoid a disaster.
-
That's why we have to have a family that can be trusted and provide a password or security code and then create wills to solve this problem. I do not confirm whether Bitcoin can be recovered.If anyone knows about it, discuss it here because there are many who don't know much about it yet.
-
Appreciate you sharing this. In the earlier days, I was a bit clumsy...but don't think I've necessarily lost access to anything significant. People have lost billions of dollars, that won't ever come back. One guy lost tens of thousands of Bitcoin within the UK, threw his old hard drive out in a landfill, can Google that one...oops. Without a bank, you are in control of your own destiny
-
If Bitcoin is lost, one way to find it is to find the Private Key and Pass Phrase.
I am sure that finding the Private Key and Pass Phrase can open the lost Bitcoin and that can make us happy.
My advice at the beginning is not to lose our Private Key and Pass Phrase because they are vital for your Bitcoin.
-
To avoid these losses that can cost us a lot of money, it is best not only to make several backup copies of our private keys, we also have to have those copies in different places. because as we know the price of Bitcoin is very expensive and is a very valuable digital asset
-
Cryptocurrency has many advantages, but it also has disadvantages. One of such shortcomings is the loss of our private keys or access to them for various reasons, which are mainly related to our mistakes and inattention. However, for ordinary users, working with cryptocurrency has a lot of nuances and subtleties, ignorance of which often leads to the loss of access to cryptocurrency.
I think that the lost bitcoins today are much more than about four million.
People die and often suddenly, without taking measures so that after them others have access to the secret keys. This problem will always be and the amount of lost cryptocurrency will constantly grow.
-
Losing Bitcoin or other Crypto is very regrettable, especially if the lost coins have a high amount. There are many cases of losing Bitcoin that we have heard of, and there is nothing that can be done after the loss.
It's really very regrettable, but what can you do if this has already happened. What we can do now is to protect our assets, keep the private key, check the wallet address correctly if we want to send coins and finally tell the people closest to you about your private key, so that if you die later, your assets can be retrieved.
-
bitcoin is not doing good may be in 2022 it will be good my market in jan is 100k it will be touch we have to hold our coins may be wait for pump.
-
IMO, I believe those Bitcoins are not lost, because they still remained and exist with those wallet addresses, if we say lost meaning they are totally lost like burning any number of coins, that explains clearly that those tokens are already lost forever because it was burned out of the circulation. but in the case of Bitcoin, we cannot apply that because that so-called lost Bitcoin was still in circulation and it wasn't burned. that's why for me the right term that may be used has just become idle in the wallet.
-
Compared to the past, Bitcoin is now more popular than the entire cryptocurrency. Bitcoin's security system has changed a lot compared to before. As far as I know now Bitcoin can be recovered. Because technology has changed with the passage of time.
Like the OP said, Maybe by the corporation with the owner who will likely provide some info to enhance the work of recovery but without that, if this can be done randomly, then no Bitcoin wallet is safe anymore. Everyone that is engaged in Bitcoin now knows the importance of safe guiding their PW/PK and I know that these losses were mostly for the early time of Bitcoin.
-
Like the OP said, Maybe by the corporation with the owner who will likely provide some info to enhance the work of recovery but without that, if this can be done randomly, then no Bitcoin wallet is safe anymore. Everyone that is engaged in Bitcoin now knows the importance of safe guiding their PW/PK and I know that these losses were mostly for the early time of Bitcoin.
I agree with you. Currently there is a lot of information and examples of how to save private keys. The people who lost access to their Bitcoins years ago may have been people who did not think about how far Bitcoin could go and did not take it very seriously. Whoever loses their private keys today is because they have not stopped for a few minutes to read about the importance of keeping them in safe places.
-
This will remind us to always save our keys properly and make some back up of it to prevent of losing and possibly of being stolen from you. We should take good care of our assets as we are taking care of our future because we all knew that once our Cryptos will lost it will never get back.
You're right we should keep private key, and maybebyou can safe in your email.
If in device, sometimes error and lost your device.
-
You're right we should keep private key, and maybebyou can safe in your email.
If in device, sometimes error and lost your device.
Save the private keys in an email ?. That sounds as crazy to me as saving them to a spreadsheet, as I read not long ago... There are more chances of someone entering your email than a device failing. You may lose a device, but you may have several more backup devices. From my point of view, private keys should be on various devices and should always be encrypted, they should never be online, there are many ways to secure our private keys, but that depends on the imagination of each one.
-
I don't know what a technological breakthrough should be so that it would be possible to pick up a seed phrase for the lost bitcoin wallets, this will most likely not happen soon, because such a super computer has not been created.
-
uncovering the mystery of lost Bitcoins.
Thank you so much for posting so nicely and didn't know that lost bitcoin was back. And I found out in full details how this is possible. I hope you will post more beautiful after that .
-
In fact, there are a lot of these wallets, I think they have been lost all over the place, at least until they invent a technology for selecting heavy keys. But I want to say that relatively recently there were movements in remote wallets, apparently they were either hacked or remembered the keys.
-
Whatever we do to prevent loss of access to our cryptocurrency wallets, this will still happen for various reasons within our control and beyond our control. People are all different, so mistakes, absent-mindedness, negligence and even various accidents will cause you to lose access to cryptocurrency. Now there is a lot of talk about the growing capabilities of quantum computers, including the fact that in a maximum of ten years they will be able to crack the security codes of cryptocurrencies. This, of course, is a very big threat to the very existence of cryptocurrencies. But at the same time, it will be a chance to restore access to previously lost cryptocurrency wallets.
-
Bitcoin prices are falling very fast because a lot of investors have invested heavily. Many have suffered huge losses from one bitcoin.And for some as a baby gets older, he or she will outgrow this. Although the price of Bitcoin is a little lower at present but the price of Bitcoin in the future Bitcoin prices are likely to rise.
-
Bitcoin prices are falling very fast because a lot of investors have invested heavily. Many have suffered huge losses from one bitcoin.And for some as a baby gets older, he or she will outgrow this. Although the price of Bitcoin is a little lower at present but the price of Bitcoin in the future Bitcoin prices are likely to rise.
That's true bitcoin price will more valuable and more expensive at the coming future.
Current Bitcoin price is low , buy more and hold for several years again.
-
Bitcoin prices are falling very fast because a lot of investors have invested heavily. Many have suffered huge losses from one bitcoin.And for some as a baby gets older, he or she will outgrow this. Although the price of Bitcoin is a little lower at present but the price of Bitcoin in the future Bitcoin prices are likely to rise.
That's true bitcoin price will more valuable and more expensive at the coming future.
Current Bitcoin price is low , buy more and hold for several years again.
Bitcoin is always good for investment.
No worries about it.
But Talking about bitcoin lost, It's big problem for their owner .
So keep your wallet and private key.
-
Bitcoin has really become a very valuable asset because if we lose our private key, we will definitely lose the Bitcoin and that is really very hurtful and until whenever this system will feel very much needed.
You have to be careful for all of them because of course we will also lose a beautiful moment if we can keep the Bitcoin private key wisely because there are so many Bitcoins out there that can't get out because the owner has lost the private key.
-
Bitcoin has really become a very valuable asset because if we lose our private key, we will definitely lose the Bitcoin and that is really very hurtful and until whenever this system will feel very much needed.
You have to be careful for all of them because of course we will also lose a beautiful moment if we can keep the Bitcoin private key wisely because there are so many Bitcoins out there that can't get out because the owner has lost the private key.
Losing the private key is catastrophic, because the Bitcoins we have will be lost. But this will not be 100% possible to avoid, every time and every time there will be people who lose their Bitcoin private keys, especially those who are beginners.
-
Lots of Bitcoin owners in the world have experienced the same thing, namely losing their private key which resulted in their money being lost and not even a few who feel disappointed with themselves because they have underestimated their Bitcoin private key.
I'm sure Bitcoin that loses its private key will continue to settle and can't run or can't be sold because it's certain that the private key has been lost to the earth. Ooooh Man!
-
Bitcoin has really become a very valuable asset because if we lose our private key, we will definitely lose the Bitcoin and that is really very hurtful and until whenever this system will feel very much needed.
You have to be careful for all of them because of course we will also lose a beautiful moment if we can keep the Bitcoin private key wisely because there are so many Bitcoins out there that can't get out because the owner has lost the private key.
Yeah, we should keep our private key and password If we didn't want lose our bitcoin wallet.
Bitcoin is good asset and will gain popularity day by day, this coins will be more valuable and very expensive at the coming years,
Maybe will touch 100K USD at the coming year, In my prediction will happen at 2024.
Always be careful.
-
For storing Bitcoins, I used to use paper wallets, they are offline wallets to store assets long term, I don't think some people store large amounts of Bitcoins and they keep them in hot wallets, hopefully people who have lost access to Bitcoin wallets can find some a copy of the phrase or password they have saved.
-
Losing the private key is catastrophic, because the Bitcoins we have will be lost. But this will not be 100% possible to avoid, every time and every time there will be people who lose their Bitcoin private keys, especially those who are beginners.
I can understand that years ago, shortly after Bitcoin came out, losing private keys was a "normal" thing, no one was used to keeping something like that. But what I can't understand is that people still lose their private keys after all these years, with all the options available in software and hardware and with so much documentation available on the net. Learning how to backup private keys would be the first thing any investor should learn before buying their first coin/token.
-
Losing the private key is catastrophic, because the Bitcoins we have will be lost. But this will not be 100% possible to avoid, every time and every time there will be people who lose their Bitcoin private keys, especially those who are beginners.
I can understand that years ago, shortly after Bitcoin came out, losing private keys was a "normal" thing, no one was used to keeping something like that. But what I can't understand is that people still lose their private keys after all these years, with all the options available in software and hardware and with so much documentation available on the net. Learning how to backup private keys would be the first thing any investor should learn before buying their first coin/token.
Agree we should keep private key and software and hardware.
We also can keep our private key on our email.
I think It's more safe than keep on hardware.
At the last year's ,we see several people lost their bitcoin because this problem, forget to keep the private key.
-
For storing Bitcoins, I used to use paper wallets, they are offline wallets to store assets long term, I don't think some people store large amounts of Bitcoins and they keep them in hot wallets, hopefully people who have lost access to Bitcoin wallets can find some a copy of the phrase or password they have saved.
Offline wallet is good for us.
But many people use online wallets to keep their bitcoin such as myetehrewallet.
MEW is safety and usable for bitcoin and altcoin transaction, especially for ERC20 platform.
But for now also usable for other platform.
Until now, I didn't know if there is the way to crack or recovery our private key.
I agree with you we should keep private key or copy on several way.
-
For storing Bitcoins, I used to use paper wallets, they are offline wallets to store assets long term, I don't think some people store large amounts of Bitcoins and they keep them in hot wallets, hopefully people who have lost access to Bitcoin wallets can find some a copy of the phrase or password they have saved.
That's what we have to do, save our Phrase wallet key so that one day we can easily access our wallet. But unfortunately there are still many who don't understand how important it is to store the private key so that when we need it they are confused or even really lose it. We really have to be extra careful with important issues like this.
-
Losing the private key is catastrophic, because the Bitcoins we have will be lost. But this will not be 100% possible to avoid, every time and every time there will be people who lose their Bitcoin private keys, especially those who are beginners.
You are right, mate. There will be no 100% safe ways to avoid losing Private Keys or Passwords. In some cases, people already prepare it very well and done prevent ways to avoid it. Sadly, something bad happens, ex: their laptops are broken or lost. So, the data on the laptop is gone forever. I know we need to put out data in several places, but not all people can do it. Even, my data is commonly stored on my laptop only without any backup.
-
For storing Bitcoins, I used to use paper wallets, they are offline wallets to store assets long term, I don't think some people store large amounts of Bitcoins and they keep them in hot wallets, hopefully people who have lost access to Bitcoin wallets can find some a copy of the phrase or password they have saved.
You'd be surprised where people can store private keys. I know people who keep their private keys only on paper, in online spreadsheets, in E-mail. Then they lose those papers, forget E-mail passwords, can't remember the address on spreadsheets, a complete mess... It is not difficult to keep private keys safe, using high-density metal, several encrypted USB devices and making several copies is a good way to keep our private keys without problems. We just have to use our imagination and document ourselves.
-
I really like the way you say it, you're absolutely right, out there they say that what stays written on the page and on paper stays there, there's no better way than to save everything on paper just in case a digital failure arises and everything gets lost, Sometimes the mystery of the lost BTC is an enigma for many, I know that this helps a lot to the general economy of BTC, because it makes it more deflationary, which is the total enemy of the traditional economy that is inflationary, the more btc is lose I think their value is magnified much more.
-
It's really sad for us to lose the private key from Bitcoin. Dammnnn !
But fortunately until this moment I have never had a friend who lost Bitcoin due to his carelessness, meaning that they lost their Bitcoin private key.
But to lose altcoons like Doge, I often see it and listen to it because in the past the Doge didn't have a price, some lost it from their personal wallet and some lost their Doge in exchange for an email that forgot the password and the Authenticator whose phone number has been changed. .
-
Bitcoin will be the same asset as that with a value that is always changing if we lose the value of Bitcoin and this is really very, very tempting for us to have it but if only Bitcoin loses its Private Key then it is certain that Bitcoin will become a dead coin or cannot be sent to all wallets.
I will feel very sad, sorry and angry because if I lose the Private Key from Bitcoin then it is certain that the Bitcoin will die or cannot be sent and my assets are definitely lost!
-
Bitcoin will be the same asset as that with a value that is always changing if we lose the value of Bitcoin and this is really very, very tempting for us to have it but if only Bitcoin loses its Private Key then it is certain that Bitcoin will become a dead coin or cannot be sent to all wallets.
I will feel very sad, sorry and angry because if I lose the Private Key from Bitcoin then it is certain that the Bitcoin will die or cannot be sent and my assets are definitely lost!
We should keep our private key, If we don't want to lose our crypto assets.
I always keep this and share with my couple.
Lost bitcoin , because of loss private key, It's really annoying.
I saw many people didn't careful, don't safe it in device, better safe in your email.
Bitcoin is very expensive assets, It will more expensive than now.
-
Bitcoin will be the same asset as that with a value that is always changing if we lose the value of Bitcoin and this is really very, very tempting for us to have it but if only Bitcoin loses its Private Key then it is certain that Bitcoin will become a dead coin or cannot be sent to all wallets.
I will feel very sad, sorry and angry because if I lose the Private Key from Bitcoin then it is certain that the Bitcoin will die or cannot be sent and my assets are definitely lost!
That is why the education of the crypto ecosystem is so necessary before making the first investment. Many users invest with little knowledge, most of them keep their assets on the exchanges and the private keys on the same smartphones where they install the exchange's apps, if the phone is lost, stolen or broken, they lose their assets. And all this can be avoided by having a little knowledge about cryptocurrencies, something that unfortunately not all users have.
-
Bitcoin will be the same asset as that with a value that is always changing if we lose the value of Bitcoin and this is really very, very tempting for us to have it but if only Bitcoin loses its Private Key then it is certain that Bitcoin will become a dead coin or cannot be sent to all wallets.
I will feel very sad, sorry and angry because if I lose the Private Key from Bitcoin then it is certain that the Bitcoin will die or cannot be sent and my assets are definitely lost!
That is why the education of the crypto ecosystem is so necessary before making the first investment. Many users invest with little knowledge, most of them keep their assets on the exchanges and the private keys on the same smartphones where they install the exchange's apps, if the phone is lost, stolen or broken, they lose their assets. And all this can be avoided by having a little knowledge about cryptocurrencies, something that unfortunately not all users have.
We should keep our private key on our emails.
Because If we save on device , we will lost if our Android broken and lose.
There is no technology that can to recovery our private key if we didn't save it.
Be careful, we should have knowledge about it
-
It's really sad for us to lose the private key from Bitcoin. Dammnnn !
But fortunately until this moment I have never had a friend who lost Bitcoin due to his carelessness, meaning that they lost their Bitcoin private key.
But to lose altcoons like Doge, I often see it and listen to it because in the past the Doge didn't have a price, some lost it from their personal wallet and some lost their Doge in exchange for an email that forgot the password and the Authenticator whose phone number has been changed. .
Those things happen for not doing things with a minimum of seriousness. Using passwords that we forget is a very serious mistake, and it really doesn't cost anything to memorize them. If someone is not able to memorize their passwords, it is best to write them down on paper and keep them in a safe place, never online. Doing something as simple as that will prevent us from losing our funds. Security about private keys and wallets is the first thing any new user should learn.
-
Informative topic but is it really possible to identify how many bitcoin has been list till now? We have seen some old wallet moves their bitcoin after almost 10 years. I think if any btc holding keeps ideal for that much time that considered to be lost btc. Please correct me if i understand it incorrectly or their i need to add some thing?
-
Informative topic but is it really possible to identify how many bitcoin has been list till now? We have seen some old wallet moves their bitcoin after almost 10 years. I think if any btc holding keeps ideal for that much time that considered to be lost btc. Please correct me if i understand it incorrectly or their i need to add some thing?
No one can know (except the owner) if a wallet has been in standby mode for many years or if, on the contrary, the private keys have been lost. That is why I have said on occasion that if a technology appeared that would allow the private keys of wallets to be discovered with relative ease, cryptocurrencies would die at that moment. I also think it would be stupid for someone to create something like this and share it with the rest of the world.
-
I agree with the opinion above, I think no one can now if they wallet has been standby mode for along years.
If there is no transaction there, we can't track it.
I think no one hack private key.
-
Technologies develop with every passing day, I have little doubt that problem can be solved as well.
No matter what we do, people will always lose the secret keys to their cryptocurrency wallets. For a long time there was information that for various reasons access to six million bitcoins was lost and this figure continues to grow. The same is true for other cryptocurrencies. Cryptocurrency and its wallets present a certain difficulty for beginners, but for now, less than 20 percent of the world's inhabitants own crypto-wallets. This means that mistakes and losses will continue.
Digital technologies are developing both in the direction of increasing convenience and strengthening security in cryptocurrency, and in the direction of hacking these technologies. Such a confrontation will be almost forever.
-
Talking about the mistery of lost bitcoin, I agree it will lost because there is no technology can hack private key.
It seems impossible.
But I heard about the issue , quantum computer can be.
But I don't believe, it could
-
To avoid these losses, which can cost us a lot of money, it is best not only to make several backups of our private keys, but also to have these copies in different places. because, as we know, bitcoin is a very valuable digital asset.
-
To avoid these losses, which can cost us a lot of money, it is best not only to make several backups of our private keys, but also to have these copies in different places. because, as we know, bitcoin is a very valuable digital asset.
Yeah, we should back up our private key.
It's really important to us.
Bitcoin is very valuable assets, As you said I agree with you.
We must keep our private key.
-
Yeah, we should back up our private key.
It's really important to us.
Bitcoin is very valuable assets, As you said I agree with you.
We must keep our private key.
After backing up the Private Key that you have, you should write it down and store it in a safe place because so far many have kept the private key, but when they want to look for it again, they sometimes forget where to put it and have difficulty accessing the storage area, I prefer to save it in various places with the addition of file encryption so that only I can access this private key but the place is not difficult to find.
-
Talking about how to keep your private key, I think there are several way.
Keep on device, email, and other.
I think it's good way, but we should remember where is we save it.
-
From the Beginning there are so many users that dont care for their bitcoins and lost on their hard disk or forgets their keys and its almost 14 years on the rise of bitcoin and crypto and time to time some one lose his wallet with bitcoins , and i tell you one thing its contribute in increase in demand in long term because every halving bitcoins reward is getting half and bitcoin have a limited supply so when btc mining reaches to end their is a high pressure of demand will occur which boost the price of bitcoin much high ,
So lose BTC is an advantage for us and take it a contribution for network growth ., and now on keep you private safe because future of crypto is bright .
-
I am new to the form but I know from reading your post I got a lot of idea on this topic moreover I have to say In most cases, the loss of Bitcoin was caused by forgetting the private keys or passwords. Save the private keys or passwords are important things, you must ensure those are in the right place and easy to remember. You won't have a chance if lose them someday.
-
Talking about the mystery of lost bitcoin, I think we should have several ways to keep our private key and password
Share to your couple or family.
I think we must do