People Losing Passwords & Wallets...

[bitcapitalist]

Everyone should get a trezor if they want to keep their funds safe. I would love to see a lastpass service style from Google.

[LoyceV]

Everyone should write tutorials for newbies

Bad idea! Tutorials are available already, and most Bitcoin users don't have enough understanding of the concept to be able to write tutorials.
Showing tutorials on the other hand is a good idea, but if people are spending money on things they don't understand, it's just a life lesson to them if they lose money.

People got used to it being okay to lose passwords. Any email provider nowadays has recovery options, and many people need that too. Banks are the same.Many people rely on password recoveries.
Data loss is no different: many people lose their precious photos when their computer breaks down. If they don't understand how to make proper backups there, how can they understand how to handle Bitcoin?

[anil k s]

The best to remember your password is to keep your dear one name or date of birth.

[Doms]

The best to remember your password is to keep your dear one name or date of birth.

And that is also one of the easiest ways to hack your account, by using easy to remember passwords. Passwords must be changed every now and then and a two-step verification / authentication adds another level of security.

[ethereumhunter]

The best to remember your password is to keep your dear one name or date of birth.

And that is also one of the easiest ways to hack your account, by using easy to remember passwords. Passwords must be changed every now and then and a two-step verification / authentication adds another level of security.

this is true, many of us trying to use same password for almost account, even on emails, and this will make easiest ways for hacker to predict or brute force your passwords. there are many ways to keep save your passwords, for example, write on notepad, make a copy into your android or pc that only you will know that place of notepad, or even upload your password into your cloud data like gdrive. i am agree to use two-step verification, and using send keys into emails, just to make sure our account is keep safe, althought there are no safe place.

[vdotcash]

Apparently people don't backup their computers either.

[a7mos]

If someone lost his wallet. it is his own fault. so even if they use something like bank to store their btc, it is their choice. and this is not new, we already have online wallets that they are centralized completely like banks like xapo and coinbase
this is how bitcoin freedom works. every one is responsible for his btc and he can do whatever he wants with it

[1Referee]

Everyone should get a trezor if they want to keep their funds safe. I would love to see a lastpass service style from Google.

Buying a trezor just adds extra costs while you can simply store the backups of your wallet files in USB sticks and external HDD's. Everyone has USB sticks and external HDD's somewhere in house. And on top of that you can also create a paper wallet that you can hide in several places in your house.

[btckold24]

People already treat exchanges and online wallets as banks but they need to realize any service where you don't have your private key is a flaw. Bitcoin banks will happen is to people being lazy and stupid, they rather just put their coins somewhere and have zero responsibility. I personally stamp my seed words into copper tags that are arranged in a special encrypted order.

your definitely right, I need to get better at storing my bitcoins. I have some on a paper wallet that im keeping for good but I mainly store all
my coins online in fear of my computer breaking or something happening. I need to do the research and store it properly instead of keeping all
my btc in online places like gambling sites. I spread it out but need to be better.

[Joel_Jantsen]

Everyone should get a trezor if they want to keep their funds safe. I would love to see a lastpass service style from Google.

Buying a trezor just adds extra costs while you can simply store the backups of your wallet files in USB sticks and external HDD's. Everyone has USB sticks and external HDD's somewhere in house. And on top of that you can also create a paper wallet that you can hide in several places in your house.

You still don't get the point.Backing up is easy,people often lose access to it.Take your USB stick for example,what if you lose the USB stick ? Or your external hard drive is damaged physically ?At such instances,all you can do is regret.The question is not about storing the coins safely but at least having an access to them while your one part of the software stops working.Backing wallet.dat on your hard drive is not a problem if you're very sure of your internet sources.

[bestluck]

The best to remember your password is to keep your dear one name or date of birth.

But sometimes people use a number of wallets and using the simple names for different accounts is also hack-able, a least people who will know you will be able to guess your details, the best idea s that keep a written record of your complex passwords etc.

[danherbias07]

At this stage of its price it is an unresponsible way to lose it or just forget it. If you know how valuable a think you have in hand you will take care of it. It will too much stupidity to lose it or they have some kind of sickness.

[X-ray]

The best to remember your password is to keep your dear one name or date of birth.

But sometimes people use a number of wallets and using the simple names for different accounts is also hack-able, a least people who will know you will be able to guess your details, the best idea s that keep a written record of your complex passwords etc.

complex password mean nothing if the hackers gets your data from phishing,even you have 100 sensitive characters with symbol,it'll be leaked at the end without any effort to bruteforce it

[yenxz]

I 've made ​​a wallet in blockchain but what happens when I open an account blockchain was not able to enter . I never lost wallets address blockchain but until now I can not open and did not know what to do . once that happens I try to create a new wallet and secure all information about it all .
I think you also have to provide security to no longer lose the account / address bitcoin , before it happens.

[Wendigo]

Frankly speaking every online and mobile Bitcoin wallet that I have ever used usually prompts me about backing up my master seed key right after I have registered a new account there and by the way the Blockchain wallet even prompts users to back up/write down the mnemonic words right in the process of creating an account so there is literally no excuse for anyone losing their passwords or private keys. Plus it's a common thing to back up our most important files to external drives/usb sticks so why not do the same thing for our Bitcoin wallets too? I say this is pure negligence and laziness.

[Jimbola3]

I 've made ​​a wallet in blockchain but what happens when I open an account blockchain was not able to enter . I never lost wallets address blockchain but until now I can not open and did not know what to do . once that happens I try to create a new wallet and secure all information about it all .
I think you also have to provide security to no longer lose the account / address bitcoin , before it happens.

Don't you have email address integrated with your blockchain wallet from which you can easily recover your password and its very recommended to use 2FA option in security to protect your wallet from different hacks and all !

[groll]

It has come to my attention, that people are starting to lose their passwords/wallets/access to bitcoin more and more often. They are either idiots or careless or just naive, but this really needs to stop.

Just today I see at least 5 reports of people losing their wallets, frequently in the wallet subforum but also on reddit. Of course economically speaking this is good for the rest of us, because the money velocity slows down making our coins more valuable, but it also makes newbie integration very unfriendly.

Really if we want bitcoin to be global, we need to make newbies more comfortable with bitcoin. Many people are irresponsible, so we need to warn them of the consequences, because they never read the fine print.


My suggestion:

1) Everyone should write tutorials for newbies and give them out for free for newbies, that will teach them how to start out in bitcoin, and what risks they need to consider. Highlighting important topics like backing up wallets, and passwords, and also keeping their systems safe from malware.

2) Every wallet software should integrate a warning window warning users to backup their wallets and passwords before creating the wallet. The warning should be in big red letters , so that newbies can see it, and this might make them realize that it is important for example:

WARNING!! BACKUP YOUR WALLET/SEED/PASSWORD OTHERWISE YOU COULD LOSE ACCESS TO YOUR BITCOINS

3) A pinned thread on the Beginners & Help section warning users to backup their wallets & passwords

4) Bitcoin.org and wallet websites should also tell newbies to backup their stuff.







Consequences:

If we don't make bitcoiners more responsible, then they will demand the existance of "bitcoin banks" that will store their bitcoins for them "safely".

If the newbies cannot be responsible, then they will hand over the control over their coins to middleman, centralized wallets, and we will accomplish nothing.

Bitcoin banks will be born,and the same fractional reserve shit will start over again. So it is in our interest to make people responsible, to keep bitcoin decentralized.

I believe it that there should be an information dissimation on the use of bitcoins for newbies. But the best way to introduce it to people is to make a course in the school curriculum about cryptocurrency especially the use of bitcoin including security protocols that one should observe to avoid their wallets and btc missing.

[Superbitzz]

if you have lose your bitcoin account password then you can easily recover it from using your email. but if yo lost your wallet password then it is little difficult to recover it. i think you must be careful about your bitcoin as well as your wallet accounts address.

[Anony121]

I always put the things that i cannot lose in a protected file on my computer, and a printed version of it in a secure suitcase.

[CrazyCraig]

I always put the things that i cannot lose in a protected file on my computer, and a printed version of it in a secure suitcase.

Do you carry it around wearing sunglasses? That is the real question.