People Losing Passwords & Wallets...

[CrazyCraig]

...they lost a number of bitcoin in it. I think it happened because of the very great hackers to get into their accounts.

I think this is giving too much credit. A lot of people are just careless and a simple phishing attack or some social engineering makes them give up their info, and bang, money gone. I'm willing to wager that a lot of people's "lost" money wasn't stolen by traditional hack attacks, but by them in some way willingly giving out their login details, like phishing or social engineering. In this case, as much as it sounds harsh, but it's their fault alone.

It is their fault alone. One needs to verify every url that they are on when submitting personal data, especially financial related. Websites and organizations can only do so much. Eventually common sense needs to kick in.

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[Pbitcoin]

Never use messaging services on the same computer or device that you keep your wallets on.
That is a no no to begin with.
Always write down you passwords on something physical and not on your computer or mobile in a text file.

[Doamader]

I had losted something like 0.10btc because i didnt save the words to recover the wallet and my disk just burned, the result were i got very pissed and i dont use anymore those kind of wallet, i just use online wallets.

[asriloni]

...they lost a number of bitcoin in it. I think it happened because of the very great hackers to get into their accounts.

I think this is giving too much credit. A lot of people are just careless and a simple phishing attack or some social engineering makes them give up their info, and bang, money gone. I'm willing to wager that a lot of people's "lost" money wasn't stolen by traditional hack attacks, but by them in some way willingly giving out their login details, like phishing or social engineering. In this case, as much as it sounds harsh, but it's their fault alone.

It is their fault alone. One needs to verify every url that they are on when submitting personal data, especially financial related. Websites and organizations can only do so much. Eventually common sense needs to kick in.

That's right because a lot of phishing site in this time and will sue you to increasing your cares about checking the URL and verify if the URL is not a fake or phishing.

[madwica]

...they lost a number of bitcoin in it. I think it happened because of the very great hackers to get into their accounts.

I think this is giving too much credit. A lot of people are just careless and a simple phishing attack or some social engineering makes them give up their info, and bang, money gone. I'm willing to wager that a lot of people's "lost" money wasn't stolen by traditional hack attacks, but by them in some way willingly giving out their login details, like phishing or social engineering. In this case, as much as it sounds harsh, but it's their fault alone.

It is their fault alone. One needs to verify every url that they are on when submitting personal data, especially financial related. Websites and organizations can only do so much. Eventually common sense needs to kick in.

That's right because a lot of phishing site in this time and will sue you to increasing your cares about checking the URL and verify if the URL is not a fake or phishing.

If the user/people lost his password i think he have input wrong information of him self that is why if we are creating like our bitcoin wallet account make sure that the personal information is true the number 1 is email and mobile number that is very important because of that we can retrieved our password or username.

[Indrawan77]

I think people need to be more careful especially newbie, there are a lot of scammer in bitcoin, always check and double check the site that you go, is it the original site or the phising site, check the spelling of the address properly, if you got suspicious link dont click it, and always be careful whenever you want to type your password and information
Usually the user lost the password to the scammer and phisher not because of the wallet security is not strong

[Dudeperfect]

Yes I agree this is good for rest of us but only in short term and in the long term it’s very much dangerous for all of us. Think if newbies continue to lose their bitcoins then why they would think that this is user friendly. This will make a negative impact of this on the rest of the world so we should come a step forward to build awareness in using bitcoins because that’s what will make a better community a better currency.

[Xester]

...they lost a number of bitcoin in it. I think it happened because of the very great hackers to get into their accounts.

I think this is giving too much credit. A lot of people are just careless and a simple phishing attack or some social engineering makes them give up their info, and bang, money gone. I'm willing to wager that a lot of people's "lost" money wasn't stolen by traditional hack attacks, but by them in some way willingly giving out their login details, like phishing or social engineering. In this case, as much as it sounds harsh, but it's their fault alone.

Yes almost of the attacks were from phishing links. Links are ranging from simple to complex. Simple phishing are requiring you to login and input data's. While complex phishing are using installed software or links that download spyware to your pc and extracts information like username password, account number and etc. So we just be careful these phishing scheme are also done by hackers, it is one of their tool.

[Strongkored]

I think people need to be more careful especially newbie, there are a lot of scammer in bitcoin, always check and double check the site that you go, is it the original site or the phising site, check the spelling of the address properly, if you got suspicious link dont click it, and always be careful whenever you want to type your password and information
Usually the user lost the password to the scammer and phisher not because of the wallet security is not strong

Yes, we must first check the site before actually enter. In a different case I ever download ebook files related to bitcoin without checking first. As a result I get that coin stealer malware, which changes the bitcoin address when we copy. My advice check all urls or file you download before opening it. With antivirus you trust or services from VIRUS TOTAL

[RealBitcoin]

This isssue is still relevant folks, especially after bitfinex hack!

[oblivi]

Another guy just lost 0.75BTC

https://www.reddit.com/r/Bitcoin/comments/4v3ych/dont_be_like_metale_of_lost_btc/

Probably others have lost more BTC in the mean time, but I can hardly keep up with the losses, seems like we find 2-3 losers every day.

It would be cool if someone could program some sort of bot that catches up with this automatically and makes a list so we can see at what rate coins are being lost. Maybe a bot that scans reddit posts or something.

[n691309]

This isssue is still relevant folks, especially after bitfinex hack!

It is still relevant and so will be as long as the bitcoin exists. While people ignore the suggestion made by others then this will happen always. About bitfinex hack people got a good lesson but still people will leave their coins on the exchanges.

[NorrisK]

This isssue is still relevant folks, especially after bitfinex hack!

These type of hacks make it even more relevant.. People are confronted with creating their own wallets again and that can result in the reports you have been gathering.

The biggest hurdle here is that the majority of people doesn't want to go through all the extra steps required to secure their coins. The tech savvy guys will do it ofcourse, but John Doe doesn't want to. I think the only way would be to integrate automated back-ups, but those are much less secure by default.

[RealBitcoin]

This isssue is still relevant folks, especially after bitfinex hack!

These type of hacks make it even more relevant.. People are confronted with creating their own wallets again and that can result in the reports you have been gathering.

The biggest hurdle here is that the majority of people doesn't want to go through all the extra steps required to secure their coins. The tech savvy guys will do it ofcourse, but John Doe doesn't want to. I think the only way would be to integrate automated back-ups, but those are much less secure by default.

The wallet providers just need to enhance their wallet and make it more userfriendly. If we go mainstream, we will get tons of more dumb people, that need to be warned before doing something stupid.

[LoyceV]

The wallet providers just need to enhance their wallet and make it more userfriendly. If we go mainstream, we will get tons of more dumb people, that need to be warned before doing something stupid.

How? Like a bank? The bank controls your money, and if you lose your password the bank can send you a new one? I don't like it!
Wallet software tells you to keep backups, or "write down the 12 words". You can't blame the wallets if people ignore all the warnings.
The whole idea of Bitcoin is that you are in control of your own money. Being in control includes being able to lose everything if you mess u.

[bostiog1]

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 more experienced with BTC 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.

When you create a wallet you receive an email to your email adress. In that mail there is a connect link to your wallet. People are so stupid that they lose even they email adress

[RealBitcoin]

The wallet providers just need to enhance their wallet and make it more userfriendly. If we go mainstream, we will get tons of more dumb people, that need to be warned before doing something stupid.

How? Like a bank? The bank controls your money, and if you lose your password the bank can send you a new one? I don't like it!
Wallet software tells you to keep backups, or "write down the 12 words". You can't blame the wallets if people ignore all the warnings.
The whole idea of Bitcoin is that you are in control of your own money. Being in control includes being able to lose everything if you mess u.

Dont be silly, I was referring to a warning window.

But if they dont do that, then bitcoin banks will come, which is bad.

When you create a wallet you receive an email to your email adress. In that mail there is a connect link to your wallet. People are so stupid that they lose even they email adress

Depends on what wallet you use, most wallets dont need e-mail address.

[bostiog1]

When you create a wallet you receive an email to your email adress. In that mail there is a connect link to your wallet. People are so stupid that they lose even they email adress

Depends on what wallet you use, most wallets dont need e-mail address.
[/quote]
If you want to really have a secure wallet adress you register it with a e-mail adress or maybe a phone number . Or you simply write on a piece of paper that details for login and wallet number

[RealBitcoin]

If you want to really have a secure wallet adress you register it with a e-mail adress or maybe a phone number . Or you simply write on a piece of paper that details for login and wallet number

But then you lose control over it, becasue if you change your email and phone in the meantime (or somebody hacks it) you can also lose access to it.

[bostiog1]

If you want to really have a secure wallet adress you register it with a e-mail adress or maybe a phone number . Or you simply write on a piece of paper that details for login and wallet number

But then you lose control over it, becasue if you change your email and phone in the meantime (or somebody hacks it) you can also lose access to it.
[/quote
Right, but i mean to have a specific e-mail adress and phone that you are sure that you will never lose. Anyway if you have a little amount of btc in your wallet it doesnt matter this.