About people that bought too early [and lost them]

[7788bitcoin]

Secondly, it shows that, with the increasing worth of Bitcoin today, many of these stories will keep coming up, with people looking for ways to recover their wallet or access their abandoned harddrive etc. And lastly, there is every tendency that many people who had a lot, sold for a Penny and today would be regretting that decision.

It is literally impossible to recover the wallets if you forget the password, you can try with multiple combinations and try your luck and most of the users who abandoned their hard drives will remove the junk in due time and the possibility of regaining that is slim as well, there were many that got lucky after getting hard drives from dumpster and able to find bitcoin in the past i have these kind of stories and one thing is true that many of the early adopters had huge amount of coins but most of them booked their profit already.

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[goldade]

This month that bitcoin has risen abruptly compared to the previous months, a lot of people have created new topics asking for help about their funds. For example this gentleman appeared out of nowhere after 9 years that had bought bitcoins and created a new thread, explaining that he found a paper wallet that was damaged in his closet. And now I'm asking myself, why now? Let's assume that he had bought 100 bitcoins in 2012. By 2016, he would have a great fortune. By the end of 2017 an even bigger.

Don't they read the news? Because if I had bought that amount of coins a decade ago, I'm sure that I'd see out of curiosity how well it has gone. Since the paper wallet was in his closet, it means that he didn't care that much.

Another bad example is this thread in which iwoswinvs (who is probably a liar) announces on a forum that he owns 50,000 bitcoins. I think there are more people like the first one, though.

I wouldn't blame them. They just didn't believe bitcoin is going to amount to anything not to talk of being worth this much. Many people don't even know they've got some bitcoins stashed away in some wallet because they can't remember.
Truth be told, this is just like many of us. There are some altcoins you bought and didn't remember to keep tabs on them simply because they didn't worth much when you bought them. If by chance, these coins increase in value just like bitcoin is some years to come, they'll also ask you this question.

[Yamifoud]

Secondly, it shows that, with the increasing worth of Bitcoin today, many of these stories will keep coming up, with people looking for ways to recover their wallet or access their abandoned harddrive etc. And lastly, there is every tendency that many people who had a lot, sold for a Penny and today would be regretting that decision.

It is literally impossible to recover the wallets if you forget the password, you can try with multiple combinations and try your luck and most of the users who abandoned their hard drives will remove the junk in due time and the possibility of regaining that is slim as well, there were many that got lucky after getting hard drives from dumpster and able to find bitcoin in the past i have these kind of stories and one thing is true that many of the early adopters had huge amount of coins but most of them booked their profit already.

If that is happening to me, I will certainly be moving on and forget about it. No chance to recover the lost BTC if we don't have any clue on the keys. A wild guess is not enough...It is crazy to think that these people just come out talking about their "lost BTC, lost keys" which I don't think they have any from it.
I heard a lot of the same stories since before. I don't think that they are so careless before because it is just of a very cheap price, it becomes multi-fold this time that makes them remember their Bitcoin.

[Ryker1]

It is crazy to think that these people just come out talking about their "lost BTC, lost keys" which I don't think they have any from it.
I heard a lot of the same stories since before. I don't think that they are so careless before because it is just of a very cheap price, it becomes multi-fold this time that makes them remember their Bitcoin.

Well, we are just the same, I heard this multiple times that someone lost their bitcoin because they are just a newbie and don't know how to properly store their bitcoin into the right wallet. Perhaps, it is countless that there are people who held bitcoin and purchase at the cheap price like investing in 2010 and until now holding. And how many of them lost their bitcoin and stuck up in the wallet forever and they cant able use it. It will increase the supply of bitcoin amount.

[Clement Kaliyar]

Perhaps, it is countless that there are people who held bitcoin and purchase at the cheap price like investing in 2010 and until now holding. And how many of them lost their bitcoin and stuck up in the wallet forever and they cant able use it. It will increase the supply of bitcoin amount.

You might many people who purchased the coin during the early stages and some are waiting for the price to hit the peak to move the coins, if you look at the old wallets you will find many addresses with coins that are not moved for almost a decade, so it is a possibility that they either lost those coins or are holding on until it reach some astronomical figures.

[SirLancelot]

Things like that happen, and people lose their money. These people are the ones who never believed in Bitcoin since the last decade the price wasn’t worth anything and they couldn’t believe in it that it will grow this much and they had invested little money, so they didn’t regard it at all.

I have seen so many of the stories like this, they buy it and they abandon it. I have also seen the thread of the guy saying he owns 50,000 bitcoins, I can’t tell if he’s telling the truth or not, but that’s his business. I saw the one of a programmer that can’t get access to his wallet.

[RokokGudangGaram]

In this kind of situation, there are some that are telling the truth where they were able to buy bitcoin in the past and they just forget it until they were able to get some clue that they have really bought a bitcoin.

But for those people who wants only an attention to their future target to scam then we should stay away from them as much as possible as many of them are creating only a scenario that didn't even happen at all just to get the attention of the forum members and proceed with their plan if they will get the chance.

[Yatsan]

We cannot certainly blame those people who have bought Bitcoin long years ago because certainly maybe they have just lost into their mind that they have kept a desirable amount of Bitcoin way back then that they have keep into hold since the price of Bitcoin way back then is far to be comparable into where it is right now. Maybe they have just focused into other necessary things while waiting for the price to grow and have forgotten it until now that they have saw a big improvement and now wanting to reclaim what they truly deserve after years of holding. But we cannot still be certain if all the stories being shared by some random stranger is true or not here in the forum but I guess some of those are true and maybe the least we can do is just assist them on how they can regain access with those long hold funds.

[freedomgo]

We can't verify if it's true or not but the way they care about their access to their bitcoin stash is just simply unacceptable.
Some people who bought early may only make it as an experiment and they don't matter it a lot since they only spend a bucks to buy those bitcoins.

now, maybe they read some news and realize they have bought bitcoin in the past, but we can't blame them really because we don't know the real story, and for sure they are already blaming themselves for losing millions of dollars.

That's what humans are, we only value things when it's already valuable.

Just like investors, instead of buying bitcoin when it struggle, they buy it when its in bull run, which is wrong IMO.

[CODE200]

In an investment  you will be optimistic at first. But not all investors would truly believe about the potential of Bitcoin by that time simply because its concept is a bit revolutionary. And with that, there will surely be ideas that would cross in the minds of those who invested at its early years, that perhaps, investing won't yield to that much of profit. We are all surprised about what happened in 2017. It is easy to say that ''I' ve expected the occurrence of this thing that this currency will be this big in the future", but only few people managed to truly believe.

[Russlenat]

I heard a lot of stories about people losing their access on their bitcoin that they bought a long time ago. Thing is, they get interested when they know the value of bitcoin has already skyrocketed, I believe bitcoin has started to be popular last 2017 and it has caught a lot of attention from the people and that makes some people realized that they hold bitcoin in the past, and unfortunately can't recover anymore.

It's a lesson learned for everyone, we learn from other people's experience, we don't need to loss bitcoin to learn, and nowadays that we have a lot of options to hold, we should choose the best security which is the hard wallet and keep it always at a safe place.

[AakZaki]

You are right. There is a greater risk of loss in pap wallet compared to hardware, my friend had an experience with these.
Maybe it’s our nature, to not over mind something that is not yet valuable for us. Like you said, BTC price is just cheap back then.
We should all learn a lesson from many experiences of forgotten keys and passwords in this forum. Save it anywhere you can.

I've never had paper wallet experience. But I have many friends who used to start using paper wallets and there were many who complained about the loss of their private keys stored in the paper wallet due to a lack of caution. Right now I have used a hardware wallet which of course is safe, but even so, we have to keep it safe. have backups and others.

[0t3p0t]

These stories, regardless of whether they are true or not, give a picture of what really happened at that time. A lot of people were mining or getting Bitcoins but since they were worth almost nothing they didn't give it much thought. Many of them lost the keys, and therefore the bitcoins. In some cases there is talk of millions of Bitcoins lost:

Lost Bitcoin: 3.7 million Bitcoin are probably gone forever

Nearly 4 Million Bitcoins Lost Forever, New Study Says

It is sad on the one hand, but on the other hand, better for us because more scarcity gives more value to our holdings.

Yeah true. At the time Bitcoin has just created hodlers don't bother to keep and watch onto their Bitcoin assets because it almost worth nothing. They did not even expect Bitcoin to be as the most expensive digital asset nowadays that is why they are just taking chances. I can read regrets every single year on their lost Bitcoins but that's life you will really forget something you don't value the most just like Bitcoin because they did not expect it to grow that much.

[sapnu]

This month that bitcoin has risen abruptly compared to the previous months, a lot of people have created new topics asking for help about their funds. For example this gentleman appeared out of nowhere after 9 years that had bought bitcoins and created a new thread, explaining that he found a paper wallet that was damaged in his closet. And now I'm asking myself, why now? Let's assume that he had bought 100 bitcoins in 2012. By 2016, he would have a great fortune. By the end of 2017 an even bigger.

Don't they read the news? Because if I had bought that amount of coins a decade ago, I'm sure that I'd see out of curiosity how well it has gone. Since the paper wallet was in his closet, it means that he didn't care that much.

Another bad example is this thread in which iwoswinvs (who is probably a liar) announces on a forum that he owns 50,000 bitcoins. I think there are more people like the first one, though.

Indeed buying bitcoin a decade ago would have made a huge and unbelievable impact on someone's life right now. If only we were able to foresee the future, we're all billionaires by now already. It's a shame we never saw this coming, even during its first massive pump, we still lost hope as it ended up dumping real hard. I hope we can learn our lesson now and start putting up our faith on bitcoin more than we ever had before. There's not much to lose if we'll believe but there is so much to gain if we keep our hopes high on bitcoin.

[passwordnow]

It was an unexpected turn of event that bitcoin that they seem not to value and just held it without anything to hope for, got buffed up and increased in value. Well, I might be the same as them and if I'm holding it back then, I've probably sold it before it goes to $100 or probably even $50 if I've made money easily by just having it. Too bad for them but let's all learn from those mistakes and experiences that we should take care of our wallets, private keys, and stuff related to it. We'll never know in the future how high bitcoin will be.

[mardaed]

It was an unexpected turn of event that bitcoin that they seem not to value and just held it without anything to hope for, got buffed up and increased in value. Well, I might be the same as them and if I'm holding it back then, I've probably sold it before it goes to $100 or probably even $50 if I've made money easily by just having it. Too bad for them but let's all learn from those mistakes and experiences that we should take care of our wallets, private keys, and stuff related to it. We'll never know in the future how high bitcoin will be.

Correct. The value of bitcoin before has a lot of impacts on how holders and people in general look at it. I think that we could all agree that there are times that we tend to take for granted the things that we do not deem as valuable. And maybe that is what drove these people to just not mind the wallets, keys and storages they used to have back then. Indeed, we all had our lessons learnt.

[qwertyup23]

I remember way back in 2013, I had a friend of mine who mentioned about online currency in which he mines for it everyday. Fast forward to this year, when I asked about this 'online currency' which turned out to be bitcoin, he mentioned that he stopped mining due to the complexity and technicalities of technology for his PC. He was able to mine around 10 BTCs but he subsequently lost his hardware containing those bitcoins.

Imagine if you can just find that hard drive of his, you'll be an instant millionaire. Like compared before, the value of BTCs were so little that people would trade thousands of btcs just for something that is convenient/useful.

[Argoo]

This month that bitcoin has risen abruptly compared to the previous months, a lot of people have created new topics asking for help about their funds. For example this gentleman appeared out of nowhere after 9 years that had bought bitcoins and created a new thread, explaining that he found a paper wallet that was damaged in his closet. And now I'm asking myself, why now? Let's assume that he had bought 100 bitcoins in 2012. By 2016, he would have a great fortune. By the end of 2017 an even bigger.

Don't they read the news? Because if I had bought that amount of coins a decade ago, I'm sure that I'd see out of curiosity how well it has gone. Since the paper wallet was in his closet, it means that he didn't care that much.

Another bad example is this thread in which iwoswinvs (who is probably a liar) announces on a forum that he owns 50,000 bitcoins. I think there are more people like the first one, though.

Such stories may well be, since people may have previously mined bitcoins and then switched to other activities. Life is very difficult and in it you often have to do not what you want, but what regularly brings food for the family. Now, when the news media talk about the cosmic prices that bitcoin has reached, many are beginning to remember the bitcoins they have held for a long time. Therefore, such stories are quite logical.

[AniviaBtc]

It is really regretful if you buy in the wrong time especially that the bitcoin's price is playing in the price of $47k to $50k this month.

I know the struggle of having a bad decision and bad timing in a bitcoin investment so that should serve as a lesson for you so that next time you buy, you are in the proper timing.

It is really hard to focus when you know that you made a bad decision, it is hard to cope up and correct the mistakes.

So instead of regretting it, be grateful that you have the opportunity to change your mistakes so that you can make your investment grow the next time you invest on it.

[virasisog]

I guess some of the early Bitcoin investors had lost access to their old wallets. Some were not expecting BTC to be this massive that they ignored their BTC since it was less than a dollar decades ago which is now worth millions if you had a decent amount of BTC.

I guess this will be the greatest regret one will have, missing a chance of becoming when you had a chance to. People who had their BTC early on must not be too careful storing their BTC since security is not that much of a priority before and everyone else is just coping up on how to secure BTC and that it is a hidden gem.