3.7 million Bitcoin are simply vanished into thin air.

[Ferki]

Many Bitcoin holders have forgotten or lost the passwords of their accounts, maybe forever. It is assumed that 3.7 million bitcoins remain without access to the wallet.
For the actual value of Bitcoin, that's a good thing.
But imagine the same thing would happen to you. In my opinion, the only possibility would be to wait for super quantum computers to decipher the keys.

What do you do to avoid such an incident? Do you inform your family about your accounts and the associated keys, passwords, etc.?
Do you use several storage options to secure your keys? Or are you the one who believes in eternal life and Covid-19 and other diseases would only hit others, never you? Are you just lazy and want to do that later?
Or haven't you even thought about it until now?


PS: I will try to repeat this post once every 6 months or to push it to remind the lazy ones of you what can happen

[Azaleea]

Thank you for this simple but very important review. I'm sure many people don't care much about their account passwords. They think that the risk of forgetting is impossible. I myself created a password with special characters that I can easily remember. However, usually I copy it in another container for anticipation

[Azaleea]

Thank you for this simple but very important review. I'm sure many people don't care much about their account passwords. They think that the risk of forgetting is impossible. I myself created a password with special characters that I can easily remember. However, usually I copy it in another container for anticipation

[Freemind]

Security is one of the most important things, that's why I would never leave my coins/tokens on an exchange, it is the worst thing to do. Some of my family members have encrypted backups of all my wallets. I also have encrypted copies on hard drives, Trezor, Ledger, and Keep Key. I always carry a master copy of everything with me and I also have it in a highly water and fire resistant box.

[arnold dudicove]

Everyone, I believe, has taken security measures against their assets. It is impossible for the results of his hard work to be left without a strict security system. And everyone has their own safety mechanism that allows them to be comfortable throughout their life ...

[0t3p0t]

True. When we have Bitcoin funds we keep it safe. And when we pass away our Bitcoin funds are lost forever not unless we inform and educate our love ones about our funds for them to recover it in times of emergency or again when life has come to an end.

[zilzylian]

I have given access to my family I trust to be able to log in to my crypto wallet, this can be done to avoid things that will happen in the future such as death.
Some people may not do it because they have a lot of money, this is an option and we need to remind everyone of this

[MrSpasybo]

PS: I will try to repeat this post once every 6 months or to push it to remind the lazy ones of you what can happen

Thanks for your efforts, I think many people will pay more attention to this topic thanks to this topic.
Maybe many people expect quantum computers to find keys for Bitcoin wallets, but I think that if that happens all the value of Bitcoin will disappear and even if the wallet is opened, the value its also just $0. If we don't have a way to deal with the quantum computer, all the advantages of crypto and Bitcoin will be broken, crypto will lose all of its value and we don't need to unlock Bitcoin wallet

[Proton]

PS: I will try to repeat this post once every 6 months or to push it to remind the lazy ones of you what can happen

Thanks for your efforts, I think many people will pay more attention to this topic thanks to this topic.
Maybe many people expect quantum computers to find keys for Bitcoin wallets, but I think that if that happens all the value of Bitcoin will disappear and even if the wallet is opened, the value its also just $0. If we don't have a way to deal with the quantum computer, all the advantages of crypto and Bitcoin will be broken, crypto will lose all of its value and we don't need to unlock Bitcoin wallet

I think that there are much more bitcoins lost for various reasons. Back in 2017, there was information about about six million bitcoins, to which access was lost.
If quantum computers appear, then most likely they will immediately fall into the hands of criminals and many bitcoin wallets will be hacked. Moreover, this primarily applies to wallets with large amounts of bitcoins, since this information is publicly available. So many bitcoins will be thrown onto the market that its price will almost depreciate. However, this may not happen. After all, cryptocurrency is also developing very quickly.
The secret keys to our wallets must be kept on paper, which will be kept in a safe place.

[TomPluz]

Just the fiat money, Bitcoin can also be lost though it is really sad to think about it considering its price right now in the market. Now, there is nothing much we can do with lost Bitcoin as it is really just like a lost air once it is gone it can be gone forever. If we have to wait for the use of quamtum computing to recover lost Bitcoin, is that not the technology that will actually kill Bitcoin in the first place? What is the use of something that can help us recover something when that something is already rendered worthless? Just wondering...

[Ferki]

Just the fiat money, Bitcoin can also be lost though it is really sad to think about it considering its price right now in the market. Now, there is nothing much we can do with lost Bitcoin as it is really just like a lost air once it is gone it can be gone forever. If we have to wait for the use of quamtum computing to recover lost Bitcoin, is that not the technology that will actually kill Bitcoin in the first place? What is the use of something that can help us recover something when that something is already rendered worthless? Just wondering...

The point of this thread was not the question of what we should do with the lost Bitcoin, but how we should protect ourselves from not losing Bitcoin.
Speaking of quantum computers; do you really believe in the beginning everyone will be able to have it?

[CriptoLH]

Indeed, in order to keep  bitcoins  need a very competent approach to bitcoin security in  wallets. The main problem of people is that they are really lazy to save passwords and secret keys in a safe and secure place. Many people forget or lose access to their bitcoins forever. Maybe someday supercomputers will be able to find access to such wallets.

[Gurujebs]

So many holders are always careless when it comes to the security of their wallet, they are ignorant of this risk management and some are just have this I don't care altitude to save and write them down in a safe place. I can't imagine loosing access to my wallet, it's just as if I forgot my bank details when I know that my bank is virtually operated without customer support.

[arnold dudicove]

So many holders are always careless when it comes to the security of their wallet, they are ignorant of this risk management and some are just have this I don't care altitude to save and write them down in a safe place. I can't imagine loosing access to my wallet, it's just as if I forgot my bank details when I know that my bank is virtually operated without customer support.

Yes, right. Many wallet owners think that the standard system is the safest and guarantees there is no risk of losing the contents of their wallets. Even though there are many fraudulent attempts out there, considering that virtual wallets can be accessed from anywhere ...

[Jaguar]

PS: I will try to repeat this post once every 6 months or to push it to remind the lazy ones of you what can happen

That is good to remind the community.
But not applicable to all. I agree some are lazy. But what about those holders who are careful? Some users experienced such deadly cases like fire burn the house, tsunami, and earthquake.