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Does Bitcoin have mechanism to recover stolen or lost bitcoin?
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Topic: Does Bitcoin have mechanism to recover stolen or lost bitcoin? (Read 385 times)
cosmoo
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Re: Does Bitcoin have mechanism to recover stolen or lost bitcoin?
June 03, 2018, 11:14:12 AM
#41
No, Bitcoin don't have any mechanisms like this. Because of this we all need to be very careful with our transactions and information saving.
goldminecrypto
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Re: Does Bitcoin have mechanism to recover stolen or lost bitcoin?
June 04, 2018, 08:06:21 PM
#42
The main advantage of bitcoin is no one can stole your bitcoin easily. And if there is possibility of happening such thing you will be notified as it has a very good security system. For this reason I always prefer
blockchain
technology and it is the best.
rogerjordan07
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Re: Does Bitcoin have mechanism to recover stolen or lost bitcoin?
June 04, 2018, 09:01:56 PM
#43
Bitcoin
is encrypted and strictly maintain its privacy. So, it cannot be get hacked or stolen easily. To get rid of stealing or hacking problem, secure account with strong password and maintain your account privacy.
DAVETUN
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Bitcoin is the currency of this age
Re: Does Bitcoin have mechanism to recover stolen or lost bitcoin?
June 04, 2018, 09:13:36 PM
#44
No mechanism to recover your lost Bitcoin, you are your own security in the cryptocurrency space, reason why you must ensure you guard your private keys and password secretly, to avoid a lost of your Bitcoin, The private keys is what you can use to access BTC, therefore anyone with the Private key owns the wallet.
robertcross07
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Re: Does Bitcoin have mechanism to recover stolen or lost bitcoin?
June 05, 2018, 01:27:50 PM
#45
since it is completely a automatic process followed by blockchain, there is no way to recover stolen bitcoin. This is why it is highly recommended to do all the transactions carefully.
smitamitu
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Re: Does Bitcoin have mechanism to recover stolen or lost bitcoin?
June 09, 2018, 12:46:31 PM
#46
Bitcoin operates in a decentralized network that has faster transaction capacity and advanced security. Once you have lost your bitcoin wallet that it is lost forever. You will not be able to recover it unless you know you password. But if you lost it, no one will be able to recover or usurp it from any sources.
levvv
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Re: Does Bitcoin have mechanism to recover stolen or lost bitcoin?
June 09, 2018, 03:09:21 PM
#47
Quote from: kimjoo11 on May 31, 2018, 02:53:49 AM
In case someone stole your bitcoin or you lost it, you won't be able to get it back.
Is this true?
What are your knowledges about this?
What i know, when somebody have the access to your wallet, either it is a private key or seed wallet, you cannot do anything if they transfer your coins.
Cryptocurrency is decentralized, there is no one can protect or recover your wallet except yourself with your keys and passwords.
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