How I waste bitcoin

[Doan9269]

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.

What a silly mistake, were you not told to keep your keys safe that such is what you will beed to have access to your coins on the blockchain, if he didn't inform you about keys and how important they were as the fund itself then he has the little fault to receive blame but if he already told or warned you about it, then it's your fault and it will be good for you to always put that in mind that not your keys means not your coins

Do you think another person have access to it?

It's there on the blockchain, am imagining what amount it would have turned to by now, it's just like you holding the coins on your wallet, buy if it were to be that the fund was sent to a wrong address, the coins will be lost and distributed back across the bitcoin network.

[Z390]

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?

1. Never, ever allow anyone to create a crypto wallet for you, he must have seen your recover seed, I am not saying your friend can't be trusted but he can be tempted too, what makes you believe that your Bitcoin is still sleeping in the wallet? It will be good for him that you don't remember the seed anymore and maybe he does.

I am talking from experience,  crypto wallet was not meant to be created by someone else even if they are family, it's private.

2. Never invest money in something you don't know, you are care free because you don't even understand what you are buying and that is one of the reasons why you lost your recovery seed, you don't believe in it and you still gave up 100k for it, how stupid of you? Maybe if you did your own research you would understand that Bitcoin could worth a lot in the future.

[Taskford]

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?

I guess there's nothing to recover back since as you said you trust your friend to create your own wallet so maybe try to check first the wallet used if the balance still intact inside since if not then maybe your friend take your money and might you cannot recover unless your friend will give a refund. 

Huge mistake that you let your friend do that so next time learn to create your own wallet and never tell anyone that you have money stored their.

[Cantsay]

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?

Your post looks like something that was made up, if you think back to 2011 the Nigeria currency Naira had value unlike now, if you had #100,000 back then you would be considered as a very wealthy person and that amount of money is not something that one can invest with and still be careless about it. I'm not sure what the reason you decided to create a made up story, if it's to fish merits then you're not doing well. Next time don't forget that you're talking about an online investment and in 2011 most Nigerians just take it as a scam and investing such amount of money seems unreal.

FYI Op, as long as no one gets hold of your private key they won't be able to access your account and use it for anything and also you can't recover your wallet, if anyone should come to you claiming they have a powerful system that can be used to recover your wallet just know that they're more likely to be a scam.

[Queentoshi]

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.

Your friends just played you. If they were real friends, they will first give you some basic knowledge about bitcoin and show you how to open a wallet for yourself, not them opening a wallet for you and claiming to hand everything over to you when they can still access it anytime, they like. They knew better than you, that is why they were able to easily fool you into giving them money to buy bitcoins for themselves. Even at the time when they handed the wallet to you, It is possible that the worth of bitcoin they got for you was not even up to the money you gave them. It is good to have some knowledge about something before you invest in it.

[Peanutswar]

Well, bitcoin at that time does not make valuable to other people not until you will see the current price today we regret right now that we sell in the lowest to the middle range of the bitcoin at that time, how much bitcoin did you accumulate? another thing is upon creation of the wallet there's a private keys provided to you that you need to keep, we have not your keys, not your coin, if you don't have the keys it's not in you anymore. Did you have an address left in you so you can check? It seems like they encourage you with the bitcoin but do not gives you the essentials to learn with the bitcoin.

[sokani]

<snip>

When creating a wallet the first thing to do is to back up your seed phrase or private keys and keep it somewhere safe. Since you were new to crypto, your friend would have shown you how to do this... Sorry many things in your story don't add up and I find it hard to believe you.

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.

The Op is no doubt a liar and I kind of wonder why he came up with this cook and bull story. As at that time, Bitcoin had not gained popularity and I doubt if there's anyone from this part of the world that would put N100k in a nascent technology like Bitcoin, when the money is more than enough to get you a plot of land at a choice location.

[Rikafip]

The Op is no doubt a liar and I kind of wonder why he came up with this cook and bull story.

I think that its pretty obvious he made that bullshit story for the sole purpose of merit fishing. He though that members will feel sorry for him losing hundreds of bitcoins and that they will sen few merits his way to ease that pain.

Luckily, members got used to recognize bs stories in Beginners & Help section so such obvious merit farmers are not as successful as they used to be.

[BIT-BENDER]

Well firstly I think you should try to convert N100k into a more familiar currency like the US dollar, I think the N in the 100k stands for naira. This would be about $130 with the current market rate, well since this is about Bitcoin in the year 2011 I think you would still be good for yourself.

Well I think you friend did not do a complete job in telling you about Bitcoin, I have always advice that when introducing Bitcoin to newbies always try to tell them more about Bitcoin, how to protect themselves, the advantages and disadvantages of Bitcoin.

[lalabotax]

...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?

If you don't have a seed phrase or private key, then you can't restore or access the wallet, and neither can anyone else. especially at that time in 2011, maybe the people who found it didn't care about the contents, they just sold it right away. And maybe if what happens next is that the device has been restarted to the initial factory settings and eliminated all applications. Try it, if you still have the wallet address, check whether the transfer of Bitcoin assets from the wallet.

[Coyster]

Never, ever allow anyone to create a crypto wallet for you

Quite rightly one should never create a wallet by proxy, it is risky and stupid, but OP never created such a wallet, i wouldn't be surprised if they have never created a crypto wallet before or ever written down a seed phrase. It is as clear as daylight that this story is bullshit and it wouldn't be deleted as spam only because OP somehow manages to stay on-topic (which is quite easy to do). All of these fabricated stories are so unnecessary and isn't the right way for someone to learn about Bitcoin or to earn merits. OP, please lock this thread.

[Issa56]

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?

Lots of people have made similar mistake in the past, they bought bitcoin and they didn't properly secure their bitcoin, some of them didn't properly secure their private key after buying bitcoin, most people didn't know that bitcoin is going to be massive, some people invested in bitcoin after making little profit they decided to sell it off, if lots of people that invested in bitcoin in the past knows that bitcoin will get to this price, most of them will have still be holding bitcoin, and they will have properly secure their private key.

If someone have access to the phone and the person fix the phone, if the person knows about bitcoin, then maybe your bitcoin will have been sold, but if nobody have access to it, then your bitcoin will remain in your wallet.

[Bushdark]

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?

How much was Bitcoin when you bought it? How many fraction of Bitcoin did you buy then?
When you not advised to key your seed phrase? What year was that? These are question I think you need to answer before you claim that you invested in Bitcoin and lose the seed phrase. Anybody can come here and write amusing stories about how they were once a Bitcoin investors and something happened that made them to lose the funds.

 If you were asked to invest in cryptocurrency when you have no idea about the decision you wee taking then, why don't you ask questions or use search engines to find out what steps you need to take to keep you safe. Because of many stories we had been seeing from random people, this making it look like one has to before a pro before investing in Bitcoin especially to the newbies.

[uchegod-21]

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?

N100k is not in any way close to $10k, $10k is much more higher. But as at 2011 that was mentioned in OP, N100k was very high and valuable. The value of N100k then should be about $1k in value for now.
I decided to burst the OP because their lie was so dumb and the choice of date mentioned in OP made it very obvious that the whole story was purely fabricated. Next time he should consider to say the truth because there’s no award for who made the most shity lying post.[/s]

[lovesmayfamilis]

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.

A cheap attempt at merit fishing. The OP often passes off his fantasies as reality.
OP, get busy, or start writing fantastic books. For some, this forum really helps to solve their financial situation, at least a little. But such stupid attacks in the form of stupid topics can completely close the way for you here. Someone will leave a tag saying that you are a liar, and someone will simply start to ignore you.
Be serious, OP; don't take people for fools.

[Aikidoka]

I don't think another person would have access to your seed phrase if the device holding it gets damaged and you cannot recover any data from it. If you had saved your seed phrase on a piece of paper at that time you would have been able to recover and use your money. However, it seems your mistake was not giving enough importance to the security of your bitcoin at that time which is kinda sad to be honest.

I'm just curious how much bitcoin did you have in your wallet back then? Do you have any public addresses as proof? I would recommend using a hardware wallet or even an air-gapped device from now on and make sure to store your backup seed phrase in a safe place.

[Razmirraz]

Can you show us the address you used to top up the Bitcoin you bought with the amount of N100k.?
I am very curious about the contents in it. How could you be so careless as to lose access to open the wallet, logically N100k was huge at that time. Anyone will take good care of the seed phase especially if there are assets of high value in it. I don't know if your story is true or not, at least the people who read this thread will be more careful about saving the seed phase so that big losses don't happen like you experienced.

[Lida93]

Such amount, 100k.
Like what they say, what you don't know is greater than you no matter how little it seem. A little knowledge of making sure on how to backup your private keys be it written down on a paper sheet keeping it safe somewhere private would have helped you today in regaining your bitcoins after these years.

When next to get such opportunity always ask questions, deep questions about what your money is going into for. A simple question about the importance of the use of the seed phrase given to you when you created your wallet would have sav d you from your loss. As long as nobody knows about your wallet password and seed phrase no one can have access to it, not even you op.

[Mate2237]

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.

A cheap attempt at merit fishing. The OP often passes off his fantasies as reality.
OP, get busy, or start writing fantastic books. For some, this forum really helps to solve their financial situation, at least a little. But such stupid attacks in the form of stupid topics can completely close the way for you here. Someone will leave a tag saying that you are a liar, and someone will simply start to ignore you.
Be serious, OP; don't take people for fools.

The whole thing is the year. The year is the one spoiled the story. If the op got that amount of money in the 2020 or 2021 at least the story would gotten some elements of truth but in this case, he took it far back in 2011  which was two years interval of bitcoin invention and op from the far continent of Africa got the information before the American and Europeans and invested in it and still lost the wallet, plus the name of the wallet, and that means the op brain was formated and the only thing he could remember was the $130 he used for the investment. Bravo for Op. He thought such post would motivate merit sources.

[Sandra_hakeem]

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?

First and foremost, your Bitcoin is lost forever- that's if you ever had any as at the time you mentioned....and did you say 100k naira? Secondly, your story looks untrue as Nigerians barely had contact with Bitcoin operations, talk more of HODLing. Thirdly, you misplaced your device and you lost your seed phrase?? May I Aks what device are you actually referring to?
... about the case of "being a big boy with a fat wallet" - you never can tell. Alot of things happen in the long run; just like the way you lost 'em seed phrase, anything HAPPENS... So that wouldn't be guaranteed too.
Again, This story is not untrue.

Sandra 🧑‍🦰