How I waste bitcoin

[FiveG]

Early 2011 most friends of mine are into cryptosystem and I barely know what it is about, I only hear the name bitcoin and one day a friend of mine said, I should provide N100k to buy bitcoin and I was like what if my money lost and he gave me assurance; no lost as long your wallet is intact and after much pressure I gave him the money, open a wallet for me and hand over everything but I was care free not minding that's a great investment then, one day I lost my device and that's how I lost the seed phase and the wallet. Am imagining if I could have recover my wallet today, I will be a big boy with fat wallet. Do you think another person have access to it?

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[digaran]

Do you think another person have access to it?

No.
How many bitcoins did you have?
How did you lose your device?
Did someone take/stole it?
Was the wallet password protected?
Do you have the address or public key? (Lol my obsession with public keys.)

[Charles-Tim]

In 2011, you can backup the private keys, which is the first thing you should not joke about at all but do immediately. You can recover your wallet with the private keys.

Now, the first thing you have to do before you finish creating your wallet is to get papers and backup your seed phrase in two or three different locations. If you think your seed phrase is not safe, you can use passphrase to extend the seed phrase and have the backup in separate locations as well.

Do you think another person have access to it?

It depends, but I think no because you will likely password your phone and the person that have saw your phone and stole it will only care about selling or using the phone after he formatted it already.

[uchegod-21]

I am a Nigerian and I know how Nigerians behave. And as at 2011, the value of N100k was very high that it could buy you a plot of land in some mini cities. There is no how you will invest N100k by then as a Nigerian and became care free about it.

By that time you mentioned, it is only a few people that could invest more than N10k in an online business they consider a ponzi scheme.  I am sorry, I do not believe your story.

[Zaguru12]

Early 2011 most friends of mine are into cryptosystem and I barely know what it is about, I only hear the name bitcoin and one day a friend of mine said, I should provide N100k to buy bitcoin and I was like what if my money lost and he gave me assurance;

Base on this calculation 100k naira was around 600$ in 2011 (1$=165 naira then) and based on the past bitcoin price I checked, in 2011 bitcoin started the year at a price of 0.3$ and ended it with 3$ to 1btc. So imagine you bought at 3$ you will have 200 btc then. Although I wouldn’t say it was careless but that was till a huge amount spent by you when bitcoin was still in the early days. And for you to turn your eyes off it was just something I can’t believe.

Base on the current price you will have $6million which is big but it is what is now.

Do you think another person have access to it?

That depends on how you created your wallet then, because I am not sure there was something like seed phrase then. The only thing I read was available was paper wallet which comprises private key and address so the best thing is where to find the address. If that your friend has access to it probably you shared the key with him but if not then nobody will have access to it

[Wiwo]

I am a Nigerian and I know how Nigerians behave. And as at 2011, the value of N100k was very high that it could buy you a plot of land in some mini cities. There is no how you will invest N100k by then as a Nigerian and became carefree about it.

By that time you mentioned, it is only a few people that could invest more than N10k in an online business they consider a ponzi scheme.  I am sorry, I do not believe your story.

I was about to mention that also because the story looks like a made-up story because I also from the same region know the extent to which bitcoin adoption and awareness have gone in Nigeria for ops to have invested 100k into bitcoin as far back as 2011 when bitcoin was still trying to gain users attention and at a low price,  there is no possibility that the ops would invest such amount in bitcoin and entirely forget to preserve the private keys to that wallet.

Ops need to come up with a more clear statement unless he is just dealing with and living in an imaginary world,  and even at that,  the reality is that he will have to know that only the private keys to the wallet prove ownership of the funds in it.

[Die_empty]

 

Early 2011 most friends of mine are into cryptosystem and I barely know what it is about, I only hear the name bitcoin and one day a friend of mine said, I should provide N100k to buy bitcoin and I was like what if my money lost and he gave me assurance; no lost as long your wallet is intact and after much pressure I gave him the money, open a wallet for me and hand over everything but I was care free not minding that's a great investment then, one day I lost my device and that's how I lost the seed phase and the wallet. Am imagining if I could have recover my wallet today, I will be a big boy with fat wallet. Do you think another person have access to it?

Sorry for your loss. Your friend that introduced you to bitcoin did not give you all the information you need to keep your bitcoin safe. And you were also ignorant because you would have carried out your research before investing such a high amount. As others have indicated, you have to back up your seed phrase immediately after you create a wallet. But I am glad you have learned from your past mistake.

I am a Nigerian and I know how Nigerians behave. And as at 2011, the value of N100k was very high that it could buy you a plot of land in some mini cities. There is no how you will invest N100k by then as a Nigerian and became carefree about it.

By that time you mentioned, it is only a few people that could invest more than N10k in an online business they consider a ponzi scheme.  I am sorry, I do not believe your story.

I doubt if you know how everybody in Nigeria behaves. Investing in a particular area is by choice. So many people might not have an interest in real estate but prefer the crypto sector. Some people can also be stupidly carefree with important issues. It is true that many people even to date see bitcoin as a Ponzi scheme but I know few persons that took advantage of the opportunities the sector offers.

[Agbe]

Early 2011 most friends of mine are into cryptosystem and I barely know what it is about, I only hear the name bitcoin and one day a friend of mine said, I should provide N100k to buy bitcoin and I was like what if my money lost and he gave me assurance; no lost as long your wallet is intact and after much pressure I gave him the money, open a wallet for me and hand over everything but I was care free not minding that's a great investment then, one day I lost my device and that's how I lost the seed phase and the wallet. Am imagining if I could have recover my wallet today, I will be a big boy with fat wallet. Do you think another person have access to it?

Op from what you said and the currency sign you used in the story/post, you are a core Nigerian and since you are a Nigeria and which I also grow up from there your story is fabricated because as of then, people who new cryptocurrency which is bitcoin were numbered that is they were few. Bitcoin was 3 years old in the ecosystem, so as of then it was only the name was heard very minimal in the country, though one to 3 persons had used it. And People fully participate on cryptocurrency in Nigeria from the year 2013, in 2015 to 2019 Seminars of cryptocurrencies were everywhere in the country. So for you saying, you gave your friend #100k as of then for cryptocurrency investment is a lie. Okay to clear our doubts, if you invest N100k in 2011 I believed in this year you are among the lucky ones in Nigeria. Can you prove me wrong? If you are not lieing.

[yudi09]

Early 2011 most friends of mine are into cryptosystem and I barely know what it is about, I only hear the name bitcoin and one day a friend of mine said, I should provide N100k to buy bitcoin and I was like what if my money lost and he gave me assurance; no lost as long your wallet is intact and after much pressure I gave him the money, open a wallet for me and hand over everything but I was care free not minding that's a great investment then, one day I lost my device and that's how I lost the seed phase and the wallet. Am imagining if I could have recover my wallet today, I will be a big boy with fat wallet. Do you think another person have access to it?

True or just making up stories is your right, but for that case you can no longer hope that the assets you invest will return as long as you don't store the private key.
A lost device basically won't be a problem to regain access to the assets on that device if your private key, seed phrase is securely stored in a place where no one else can access it.

If at this time someone finds your lost device, they may not be able to unlock it if you create double security such as a strong password.

[The Sceptical Chymist]

How many bitcoins did you have?

This dude didn't have shit for bitcoins; he's a noob to the forum and I'm guessing he's trying to rank up his account (somehow) because he's an account farmer or wants to join a bounty eventually.  No way in hell he's an OG bitcoiner from 2011, just based on geography alone.

Op from what you said and the currency sign you used in the story/post, you are a core Nigerian and since you are a Nigeria and which I also grow up from there your story is fabricated because as of then, people who new cryptocurrency which is bitcoin were numbered that is they were few.

Yep.  I wrote the above before I even read your post, so I'm glad someone else follows my logic. 

OP, you're full of shit.

[Ayers]

I am a Nigerian and I know how Nigerians behave. And as at 2011, the value of N100k was very high that it could buy you a plot of land in some mini cities. There is no how you will invest N100k by then as a Nigerian and became care free about it.

By that time you mentioned, it is only a few people that could invest more than N10k in an online business they consider a ponzi scheme.  I am sorry, I do not believe your story.

Do you mean N100k equals 10k$? I'm not from Nigeria, and I don't know how big or small the amount is, but if what you explained is true. Yes, I don't want to offend, but I will call him a liar, and this story is fictitious. Although at the time, I didn't know if anyone had invested such a large amount in bitcoin, the fact that someone who knows nothing about bitcoin could risk investing such a large amount is fabricated. Moreover, how could he lose such a large amount of money so easily and without any safe storage method?

[peter0425]

Early 2011 most friends of mine are into cryptosystem and I barely know what it is about, I only hear the name bitcoin and one day a friend of mine said, I should provide N100k to buy bitcoin and I was like what if my money lost and he gave me assurance; no lost as long your wallet is intact and after much pressure I gave him the money, open a wallet for me and hand over everything but I was care free not minding that's a great investment then, one day I lost my device and that's how I lost the seed phase and the wallet. Am imagining if I could have recover my wallet today, I will be a big boy with fat wallet. Do you think another person have access to it?

you have created a lot of thread to fish merit mate  , if you happened to know bitcoin since 2011 then you must not creating many thread that tackles like you know nothing about the difference of Mining and trading

I will love to understand the difference between mining and trading? To some point I see trading more easier and convenient than mining but I guess is before I don't full understand how mining works! Most mining are done with machines but trading is humans strategies, so am definitely not inclined with their difference. Please help us with your knowledge, we're all learning.

for that 12 years of knowing crypto ,  I must believe that you already has knowledge of what you are asking here.

[xSkylarx]

It is not waste; it is just that you are unlucky that your device got lost because of your carelessness. Just imagine that you are very cautious putting money on it and having second thoughts, but you are not having doubts about safeguarding it, like having backups, because that is your money, and for sure there will be a prompt saying that you should back up it on a piece of paper as you can't recover it. Also, if someone got your device, then for sure he just erased all the data there as well as your seed phrase, so for sure it is already gone.

[Hyphen(-)]

How many bitcoins did you have?

This dude didn't have shit for bitcoins; he's a noob to the forum and I'm guessing he's trying to rank up his account (somehow) because he's an account farmer or wants to join a bounty eventually.  No way in hell he's an OG bitcoiner from 2011, just based on geography alone.

The OP sounds like a liar, or he needs people's attention, because if the OP actually has that amount he mentioned in the year 2011 in Nigeria, he will never go towards Bitcoin investment because that is a very large amount of money at the time, and $1 was around 165Naira, so the 100k naira he claimed will be around $600, which can buy at least 127-128 or even up to 300BTC depending on the price, because Bitcoin peaked $30 in early 2011, declined to $2, and finished the year at $4.7.
 
I doubt that someone holding such a large quantity of Bitcoin will lose the Bitcoin just because he lost his device; the OP did not even indicate the type of wallet he was using to store the Bitcoin. 

Op from what you said and the currency sign you used in the story/post, you are a core Nigerian and since you are a Nigeria and which I also grow up from there your story is fabricated because as of then, people who new cryptocurrency which is bitcoin were numbered that is they were few.

Yep.  I wrote the above before I even read your post, so I'm glad someone else follows my logic. 

OP, you're full of shit.

If the OP truly had that BTC, his first post in this forum would have been about his lost Bitcoin rather than pretending to be learning about Bitcoin for the first time. Look at the OP's first post in the forum; if the OP truly lost that amount of Bitcoin, he would have shared some testimonies, but instead this.

The most favourable investment is bitcoin, and I call it the most favourable is because it gives choice of what you want to invest, time, period, management and operations. I would love to take this opportunity to the next level, I don't investing any cash entering my hand even if bitcoin is going down or up, I still prefer it to others. I have seen a lot of testimonies of bitcoin despite the challenges it has faced but still good to mingle our mind with bitcoin lifestyle and love it, advertise it, campaign hard for it and trade cautiously. Bitcoin have touches lives my won't be exemption, I must learn, grow and earn from it.

[Strongkored]

Early 2011 most friends of mine are into cryptosystem and I barely know what it is about, I only hear the name bitcoin and one day a friend of mine said, I should provide N100k to buy bitcoin and I was like what if my money lost and he gave me assurance; no lost as long your wallet is intact and after much pressure I gave him the money, open a wallet for me and hand over everything but I was care free not minding that's a great investment then, one day I lost my device and that's how I lost the seed phase and the wallet. Am imagining if I could have recover my wallet today, I will be a big boy with fat wallet. Do you think another person have access to it?

Yes you will have Bitcoin with thousands of percent higher value than the first time you bought it, because in that year the average price of Bitcoin was $10, and 100K Naira that was around $125 the current exchange rate does not known for sure the exchange rate in 2011 whether Naira is a currency that stable or what, but if the exchange rate is the same then you have at least around 10 Bitcoins and you can already enjoy what you invest, but I'm quite doubtful whether in that year there was already a mobile version of the wallet? unless you use an online wallet because that is enough to use but access via the website not the application. Is anyone able to access your wallet? if you keep everything on your smartphone it is certain that someone can access it if he knows about Bitcoin and again in that year Bitcoin was not as popular as it is today where you can find a lot of information so people will know how valuable the coin is, and I feel you are just telling lies.

[Agbe]

The most favourable investment is bitcoin, and I call it the most favourable is because it gives choice of what you want to invest, time, period, management and operations. I would love to take this opportunity to the next level, I don't investing any cash entering my hand even if bitcoin is going down or up, I still prefer it to others. I have seen a lot of testimonies of bitcoin despite the challenges it has faced but still good to mingle our mind with bitcoin lifestyle and love it, advertise it, campaign hard for it and trade cautiously. Bitcoin have touches lives my won't be exemption, I must learn, grow and earn from it.

Lolz!!! Op has contradicted his own self. In 2023 op wants to earn and learn bitcoin and in 2011 Op had learned and earn bitcoin but lost the bitcoin along the line and became novice to bitcoin again after the incident. A car crash accident that everything in the brain was formated and brain became new.  
But one thing I noticed from the Op post, probably he mistake the date and if the op mistake the date he should quickly reedit the op and correct all that is necessary now that it still early, if not this post will affect it post history. Because the post is contradicting the first posts of the Op.
Op if you did mistake please go and edit now. Nobody is above mistake. That is my advice.

[rikybrosh]

I hope you can earn more bitcoin by now, it is a good time to accumulate bitcoin. my advice for you and all people is please make sure to save such important information in form of digital and physical. I usually save such data in flash disk and in printed paper. the maximum amount of BTC is fixed, please no BTC lost anymore, although it can make btc price rise  but it should not keep happen. I hope this issue become a concern for the new bitcoin investor.

[komisariatku]

I am a Nigerian and I know how Nigerians behave. And as at 2011, the value of N100k was very high that it could buy you a plot of land in some mini cities. There is no how you will invest N100k by then as a Nigerian and became care free about it.

I was curious how much the N100K was worth, and I looked it up on the internet. N100k = 128USD. I don't know the numbers are big or not in Nigeria. But in 2011 there were still very few people who believed in bitcoin. So I think buying bitcoins with that kind of money will make him watch out for his wallet keys. In 2011 bitcoin had a price of around 0.3 - 3.06 USD, so he has quite a lot of btc

By that time you mentioned, it is only a few people that could invest more than N10k in an online business they consider a ponzi scheme.  I am sorry, I do not believe your story.

I agree with you. In 2011 I was still a child, he had to be the same. So 128 USD would have been a lot for those of us who were kids then. I'm quite doubtful about his story, maybe he's just lying. and is bitcoin already popular in nigeria in 2011?

But if he's not lying, he should have around 50 - 500 bitcoins. That's a huge amount for now. Maybe he will be rich with that many bitcoins

[hyudien]

Early 2011 most friends of mine are into cryptosystem and I barely know what it is about, I only hear the name bitcoin and one day a friend of mine said, I should provide N100k to buy bitcoin and I was like what if my money lost and he gave me assurance; no lost as long your wallet is intact and after much pressure I gave him the money, open a wallet for me and hand over everything but I was care free not minding that's a great investment then, one day I lost my device and that's how I lost the seed phase and the wallet. Am imagining if I could have recover my wallet today, I will be a big boy with fat wallet. Do you think another person have access to it?

Carelessness due to lack of knowledge makes you feel that the value of Bitcoin at that time was worthless. Many cases are like this with the pretext that is not much different. But can it come back again? Since you don't have the phrase seed there is no way to access it. There's nothing you need to do today except to be a reflection so that in the future you always think that what is currently worthless can change everything in the future. Depends on the type itself. Because it's about Bitcoin that there's only one complete control, and when that control is lost it's all regret. Indirectly Bitcoin has taught you to always be careful, and respect the slightest ownership.

[nakamura12]

How did you lose your device? Is it stolen?. If it is stolen then if the one who steal it knows about crypto then it is possible that the thief may have access to the wallet. When you are pressured by your friend and told you that it will be okay if your wallet is safe and secured but you should have make another backup of the seed phrase in another device or written in a paper. Did your friend told you to keep it safe and make a back up?. If you did made a backup of your seed phrase online then there's a chance you can recover your btc if ever no one have access to your wallet. We all make mistakes and I hope this is a lesson for you. Better keep another backup of your seed phrase instead of having one copy.