what happens if a bitcoiner gets anterograde amnesia

[Ahli38]

an anterograde amnesia is a condition one where fails to make new memories and only retaining the old ones so if a bitcoiner gets amnesia today he will remember everything that happened to bitcoin from the past until now but only until now so even after 4 years he is always going to think that bitcoin’s price is at $91k and he’s going to wake up the next day confused why bitcoin suddenly got up to $301k because he’s had no recollection of the days leading up to that price


if he was a long term holder, his job just got easier but if he’s a trader this will be difficult because he wouldn’t know all the news that have come out

what an interesting situation though unfortunate

Every problem has a solution. And if someone has trouble remembering what they have just done so the solution is to always keep a daily activity log or even use a reminder app on their phone. Or if they are a trader they can also use multiple reminder notifications that are specific to their tasks. I personally sometimes forget the activities I have just done. But since I'm aware of that so I often take notes on my phone or even in my notebook for every activity I do. I personally believe that these methods can be a solution for people who are forgetful. And these methods can be used in activities related to Bitcoin, where it is very important to do so. Another option is to work with close relatives or even immediate family as partners whom we can trust and even whoever can help.

[AmoreJaz]

On a more serious note, this is a real-life risk that's faced by anybody who takes up the responsibility of being his/her own bank. I'm sure many coins will die with their owners or forgotten along with their memories.

amnesia and death are part of the risks of holding bitcoin

who knows how much coins have been lost because the family can’t have access to the coins so when we are holding a significant amount of coins, it should be in our consideration how can we give access to our family once we are no longer capable of managing those coins

it would suck to have those coins waster and for your family to not benefit from it

That's what you called life. We will never know what happens next. You can always prepare by having contingencies. When you feel your health is in jeopardy, it would be better to look for options that can secure your assets.

[nakamura12]

It sounds like that person should let his love one manage the funds or entrust the funds since he can no longer manage the funds due to amnesia but if he wasn't able to do those things before the amnesia then I would say that it's kinda the same as the Bitcoins that Is lost due to serious situation or an avoidable situation. There's a chance if the backup is recovered by someone he loves like given like a will or in case when the person can no longer manage it like having amnesia or by accident for example.

[joniboini]

who knows how much coins have been lost because the family can’t have access to the coins so when we are holding a significant amount of coins, it should be in our consideration how can we give access to our family once we are no longer capable of managing those coins

I'm sure we have had many discussions around Bitcoin inheritance in the past, though. You can find some of them in this forum and learn how members prepare for it. Unfortunately, we have many factors to consider, such as whether our family members can be trusted or not, whether they know a thing or two about crypto or not, and so on. At the end of the day, we can only prepare for it and hope for the best. Relying on a third-party is a terrible choice for most users.

[JiiBs]

In which case, it's about time for the person to entrust what he/she has to a loved one or somebody dependable. Surely, he/she doesn't have any business trading. It's certainly not for somebody suffering from amnesia.

On a more serious note, this is a real-life risk that's faced by anybody who takes up the responsibility of being his/her own bank. I'm sure many coins will die with their owners or forgotten along with their memories.

I am not very familiar with the condition but, since it’s one that can be threatening giving a field that many of us in Bitcoin today originally sort out the cryptocurrency trading idea when we learnt of this field, although a lot changed but, the possibility of reverting to this possible is always there…

Isn’t this a condition that can be built on? I know having a pocket of information not available to you as per how price might have changed over the span of some time is scary and even worts when this timestamp runs into years.

However, these informations exists over the web and for Bitcoin it’s price hikes revolves about the months or a year after the halving and does exists on the web. Wouldn’t having to research on it serve some purpose?

[michellee]

As a trader, he may searching for what happen to the market. He will curious and will not just stop without doing anything. His passion in crypto can beat his amnesia and he will not give up until he can get what he wants.

He may write anything that he forget and try to remind all things. He may also try to trade to see if the market still the same as before. But if he is a long term hodler, he will not doing anything but only check on the market and see in what price Bitcoin now.

[uchegod-21]

Okay, I almost thought anterograde amnesia is an extreme case of amnesia, my fears was that he could lose access to his bitcoins if he can no longer recall his seedphrase (that is if he saved them in his human memory) or forgot where he wrote them down. Now that I understand what anterograde amnesia is, I understand that this situation can be better managed if this unfortunate incident happened after he has been investing for a long time.

Amnesia is a disease that can appear anytime but fortunately it usually has signals and symptoms before it becomes severe enough. There are other accidents which can cause memory loss very suddenly and you can not avoid or control. The only way you can do is have good wallet backups as preparation for your wallet recovery later even with or without memory, with or without amnesia.

Prevention and preparation like this with wallet backups is better than hope that amnesia will not come, accidents won't come to you in the future. You must prepare wallet backups for almost worst situation, so that you or your loved ones can recover your wallets.

Yea...this is why is bitcoiners should be prepared always for the worse case scenarios. Accidents can happen to anyone, the chances of recovering the assets would be if there are backups available and that can be accessed by a trusted person who knew about the existence of such an asset. As much as people are careful about who they discuss their bitcoin journey with, it can still be risky to keep all information about their investments to themselves without anyone knowing about it. In this case of amnesia, this is where they will be useful. I cannot imagine a situation where I am in severe pain and need money for medical services but can't access my investment due to loss of memory and no one else can too because they don't even know that I have money.

[pawanjain]

an anterograde amnesia is a condition one where fails to make new memories and only retaining the old ones so if a bitcoiner gets amnesia today he will remember everything that happened to bitcoin from the past until now but only until now so even after 4 years he is always going to think that bitcoin’s price is at $91k and he’s going to wake up the next day confused why bitcoin suddenly got up to $301k because he’s had no recollection of the days leading up to that price


if he was a long term holder, his job just got easier but if he’s a trader this will be difficult because he wouldn’t know all the news that have come out

what an interesting situation though unfortunate

He wouldn't be trading if he would be suffering from amnesia. Not only the prices but what if he forgets where he kept the seed phrase to his wallet.
All his funds would vanish even after having earned them so hardly. So such people should avoid trading and investing at first place.
They should go for safe investment options like fixed deposits and bonds instead.

[osasshem]

an anterograde amnesia is a condition one where fails to make new memories and only retaining the old ones so if a bitcoiner gets amnesia today he will remember everything that happened to bitcoin from the past until now but only until now so even after 4 years he is always going to think that bitcoin’s price is at $91k and he’s going to wake up the next day confused why bitcoin suddenly got up to $301k because he’s had no recollection of the days leading up to that price


if he was a long term holder, his job just got easier but if he’s a trader this will be difficult because he wouldn’t know all the news that have come out

what an interesting situation though unfortunate

In such situation, it will affect everything related to such a person in that situation, and such a person might not be a trader, cause as a trader, you are always updated with the latest news happening in the market. Though, I'm not sure how such illness is contacted, but it is not an illness that anyone should have experience of.