lyledark10 (OP)
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Activity: 56
Merit: 9
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December 26, 2017, 02:01:33 PM |
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Yes! When we lost our wallet that contains bitcoins it will be lost forever. Can it be recover? I think so. But most of it didn't recovered.
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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bitart
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December 26, 2017, 02:07:44 PM |
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Yes! When we lost our wallet that contains bitcoins it will be lost forever. Can it be recover? I think so. But most of it didn't recovered.
Mainly yes, but it depends on the type of the wallet itself. If it was a paper wallet or a brain wallet (when you use the private key directly) than it will be impossible nearly. If it was a desktop wallet, and the HDD damaged, there are possible ways to recover the HDD and save the wallet.dat file. If it was a mobile wallet, it depends on the mobile OS. If it was a web wallet, the wallet provider can help you to access your wallet again. Most of the wallets have backup methods, it's really useful to backup the wallets periodically. Also, wallets can help you providing the seed and if you have the seed, you can recover the wallet without any hassle. |
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~Bitcoin~
Legendary
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Activity: 994
Merit: 1000
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December 26, 2017, 02:08:07 PM |
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Yes! When we lost our wallet that contains bitcoins it will be lost forever. Can it be recover? I think so. But most of it didn't recovered.
No it can't be recovered that's why bitcoin is the scariest and safest assets/currency, if it was possible than people will take out billions of dollar worth of bitcoin that is unused and locked inside satoshi's earlier address. If you don't have your private keys or recovery phrase than there will be no way to recover any bitcoin stored in your address. |
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SONG GEET
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December 26, 2017, 02:54:33 PM |
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Yes! When we lost our wallet that contains bitcoins it will be lost forever. Can it be recover? I think so. But most of it didn't recovered.
It depends on whether you have any backup of that wallet or not, there are different ways to recover your bitcoin wallet and it depends upon which wallet you are using. Web wallets provides simple backup option, light weight wallet provides backup phrase and private key, paper wallet have private key etc. |
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BitcoinSupremo
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December 26, 2017, 03:02:02 PM |
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Yes! When we lost our wallet that contains bitcoins it will be lost forever. Can it be recover? I think so. But most of it didn't recovered.
The ones who can't recover their bitcoins if wallet is lost are the people who are not prepared well enough to handle Bitcoin. If they did read thoroughly before jumping into bitcoin, what it is, what is a bitcoin wallet, what is a seed and what is a recovery phrase then surely they would recover their bitcoins most of the time. Information is key in our time to be successful in every venture we take,especially bitcoin, that's the conclusion I have arrived at by watching and keeping account of most of the facts regarding bitcoin in general. |
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kumarcp
Newbie
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Activity: 27
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December 26, 2017, 03:03:58 PM |
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Yes exactly if you loose your bitcoin wallet you will loose your bitcoin which is there in your wallet so keep I safe
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malikusama
Copper Member
Sr. Member
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Activity: 1050
Merit: 294
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December 26, 2017, 03:19:06 PM |
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Yes! When we lost our wallet that contains bitcoins it will be lost forever. Can it be recover? I think so. But most of it didn't recovered.
This is how the total supply of bitcoin (i.e 21M) will be effected, there is no way out to get back lost funds until or unless someone try to get help from the service providers(i.e wallet providers) by providing them the ownership proof. But it is in fact not a guaranteed solution, because the lost wallets are recovered rarely. I read on Reddit that there are around 42,400 dormant bitcoin addresses containing around 3,380,582 BTC, and the sad truth is those bitcoins are lost forever until the owners struggles to get them back through any possible solution. |
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dawoodkhan97
Member
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Activity: 210
Merit: 10
LibertyLance - Where Freelancing Meets Blockchain
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December 26, 2017, 06:05:24 PM |
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Unless you don't have the private key to your wallet
or the backup file. There is no way you can recover
your bitcoins.
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Scor1937
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December 26, 2017, 06:07:14 PM |
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Depending in the wallet you are using to store the bitcoins. It can be restored if you have access to the private key and i would prefer everyone to aafely store your private key with you untill you are in the field if cryotos to be safe from huge loss.
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goldade
Full Member
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Activity: 896
Merit: 104
The Standard Protocol - Solving Inflation
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December 26, 2017, 06:18:08 PM |
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If you lost your bitcoin wallet, the only way it can be recovered is if you still have access to your private keys. That's the reason private keys are made. It's with the private keys you can access your your wallet without any stress.
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Wulanayu
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December 26, 2017, 06:26:12 PM |
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if you lose the bitcoin wallet it's like you lose your wallet in real world logically if you lose your wallet in real world automatically it's possible to get back to your hand very thin that is 1% even if you try to report it to the local authorities or police.
let alone a bitcoin wallet that has a password or keyword that is quite complicated and I'm sure you do not memorize it, so if you want the wallet I think it's impossible to get back.
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digaran
Copper Member
Hero Member
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Activity: 1330
Merit: 899
🖤😏
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December 26, 2017, 06:34:51 PM |
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Yes! When we lost our wallet that contains bitcoins it will be lost forever. Can it be recover? I think so. But most of it didn't recovered.
The ones who can't recover their bitcoins if wallet is lost are the people who are not prepared well enough to handle Bitcoin. If they did read thoroughly before jumping into bitcoin, what it is, what is a bitcoin wallet, what is a seed and what is a recovery phrase then surely they would recover their bitcoins most of the time. Information is key in our time to be successful in every venture we take,especially bitcoin, that's the conclusion I have arrived at by watching and keeping account of most of the facts regarding bitcoin in general. This is why Hardware wallets are such a huge thing to have. Any amount of crypto over $100 needs to be on a hardware wallet and the recovery words need to be in a secure known place or even physically encrypted. My man, I like you just because you said something about jumping, the task I haven't been able to perform thus far, though I'm not sure about physically encrypting something, maybe you are referring to locking the paper wallet in a safe? how could some body lose their wallets? all it is required a pencil and a piece of paper, extending your seed with extra words would further secure your wallet as well. there is no need to memorize keys and passwords. How can I get a hardware wallet? |
🖤😏
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bitart
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December 26, 2017, 09:37:02 PM |
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Yes! When we lost our wallet that contains bitcoins it will be lost forever. Can it be recover? I think so. But most of it didn't recovered.
The ones who can't recover their bitcoins if wallet is lost are the people who are not prepared well enough to handle Bitcoin. If they did read thoroughly before jumping into bitcoin, what it is, what is a bitcoin wallet, what is a seed and what is a recovery phrase then surely they would recover their bitcoins most of the time. Information is key in our time to be successful in every venture we take,especially bitcoin, that's the conclusion I have arrived at by watching and keeping account of most of the facts regarding bitcoin in general. This is why Hardware wallets are such a huge thing to have. Any amount of crypto over $100 needs to be on a hardware wallet and the recovery words need to be in a secure known place or even physically encrypted. My man, I like you just because you said something about jumping, the task I haven't been able to perform thus far, though I'm not sure about physically encrypting something, maybe you are referring to locking the paper wallet in a safe? how could some body lose their wallets? all it is required a pencil and a piece of paper, extending your seed with extra words would further secure your wallet as well. there is no need to memorize keys and passwords. How can I get a hardware wallet? Easy, you can buy them: Trezor: https://shop.trezor.ioLedger Nano S: https://www.ledgerwallet.comThere are several hardware wallets on the market too, but these two are the most known and used. The ledger is cheaper a bit, but you should count the postage fee too, so it depends on the country you want it to get shipped to. |
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Youghoor
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December 26, 2017, 09:43:59 PM |
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Yes! When we lost our wallet that contains bitcoins it will be lost forever. Can it be recover? I think so. But most of it didn't recovered.
Just like they said before, it depends on the wallet that you were using before. Cryptos do not care about who you are, they only care about who has the private key to unlock the wallet. If you do not have that private key, or the mmemonic phrase, the seed, or the 24 words, then you are lost. At least try to store a recovery seed for your wallet if you know that you are exposed to lose it. |
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paul00
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December 27, 2017, 02:31:49 AM |
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We all love bitcoin and we are really into it but I think we must accept the fact that this is one of the flaws of bitcoin. Its freedom and ease of access is making it hard for us to trace our wallet in case of loss. That’s why what we must do is be cautious with it and consider bitcoin as how we consider other investments made thru fiat.
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jeanpadel14
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December 27, 2017, 08:15:46 AM |
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Well i think it will lost forever,small chances to recovered it.Maybe when it comes to money we should really double the care and the security especially thru internet like our bitcoin wallet.It will only happen to users that their password knows something else or simply not aware of the bitcoin wallet.Let's imagine that when the precious thing is gone specially money in real world, it's hard to get it back.
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