Something you don't have to forget

[sotelorene]

Most people never knew Bitcoin will be this huge and important because I wish they do everyone would've at least have 10 of it but again there are people who have this Bitcoin but because the value then was not encouraging most people lost their wallet password,  am saying this because I know most people do actually lost their wallet password before they heard Bitcoin is now a great coin.
However,  what am saying in essence is that whatsoever coin you have or you are mining please keep it safe and don't forget your password very important because you can't and will never recover the password.  I believed within a short time most of these coin will have a great value,  a value that one of it will change your story.

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[taufik123]

Unfortunately, I got into Bitcoin around 2016 and couldn't get more BTC when the price was still below $1 a few years earlier.

But early holders of Bitcoin not only lost their keys because they were not stored, they made the sale early because at that time Bitcoin was still worthless.
And a big transaction made with Bitcoin is the purchase of pizza with 10,000 BTC.

If the initial holder could hold back until now, then he would have become very rich with Bitcoin, but in fact they have sold early.

And those who lost the key or those who have died and did not pass on the Seed Phrase to others.
The address with a lot of Bitcoin will only become a graveyard of Bitcoins that will no longer be able to move.
So there is less and fewer Bitcoin supply available in the market.

[Ambatman]

This sound's too fairy tail
If you hold a bad coin
Your investment will forever be in red
Not all mined coins ever get launched
If you lucky it does either the profit is minimal or life changing
About the loss of password
Some were outside the owners control
Like something happening to where the password was kept
Or the owners losing their life without sharing the password (location)
Guess the best is having more than one relatively secured location
While forgetting of password?
I'm not sure anybody know their Bitcoin wallet password in memory.

Edit: I skimmed through the 10Btc for everyone
Even at full circulation everybody can't even have 0.01 BTC.

[CryptSafe]

At first, every new innovation takes time to get accepted into society. Although there are some people who are good at first adopting a new technology and becoming early adopters of that technology while watching to see how things unfold about that technology, that was the case with bitcoin. Some were skeptical about it; some watched it from afar. While some just tried it to see how it went, although people never believed that it would be this important and sold off at the early beginning, while some lost their phrase just as the previous reply stated, and some holders are already late without passing their keys to their loved ones, these lost bitcoins would actually make the available bitcoin more scarce and valuable. And in time to come, the price would be higher than it is now, and the adoption rate would be very high enough to trigger a global and massive integration of bitcoin into the government system all over the world.

[Hamza2424]

First of all, it is not possible for everyone to own 10BTC as there is just 21M supply and the circulation of the supply is even lower, so whatever you own better keep it safe and hold strongly, never fall for a sale in a few bucks, keep accumulating to fill the desired amount gradually.

What does that password mean? Becasue here in Blockchain all the transactions are processed with the public and private keys, so what needs to be secured is the seed/master key. That's also a proven fact that many people lost their key access and now the wallets are dead, At the same time some crazy people are trying to buy old data files in the black market to somehow crack big treasures. I haven't heard of any such successful attempt.

According to the estimation currently, there's a 6M Bitcoin supply suspected under the dead wallets, how-much-bitcoin-is-lost-forever. TBH i think there a massive amount which is still accessible.

[Zlantann]

Most people never knew Bitcoin will be this huge and important because I wish they do everyone would've at least have 10 of it but again there are people who have this Bitcoin but because the value then was not encouraging most people lost their wallet password,  am saying this because I know most people do actually lost their wallet password before they heard Bitcoin is now a great coin.

Only a few people believe that Bitcoin's value will increase in the future. Others felt it was a joke but I don't blame them because the project was new and unconventional. Everybody was used to fiat money so it was very difficult to believe that virtual or digital currency would become a legal tender. Those who lost their password or seed phrase will live to regret their actions and it is a lesson to all of us to always keep our assets safe regardless of their worth currently.

However,  what am saying in essence is that whatsoever coin you have or you are mining please keep it safe and don't forget your password very important because you can't and will never recover the password.  I believed within a short time most of these coin will have a great value,  a value that one of it will change your story.

I cannot verify the reliability of other coins but I am sure that Bitcoin is worth hodling. The coin has proved over the years to be dependable. I cannot vouch for other coins because many worthless coins are developed every day.  There is a report that claimed that close to 1,700 and 2,500 have failed and ultimately disappeared from the crypto market. So you have to be careful of the coins you keep because they might be worth nothing in a few months or years.

[SatoPrincess]

We read stories of people losing access to their wallets due to negligence especially in the early days. I remember reading a of one guy that wanted to dig up a piece of land to find his hardware wallet containing 150m worth of bitcoins. This is just one out of many. There are others who had bitcoins in websites and have either forgotten the passwords or the name of the website. Truth is people place value on things that have value and back then bitcoin wasn’t this valuable. Now that it is, everyone is scrambling for a price of it.
 

However,  what am saying in essence is that whatsoever coin you have or you are mining please keep it safe and don't forget your password very important because you can't and will never recover the password.  I believed within a short time most of these coin will have a great value,  a value that one of it will change your story.

Don’t be surprised most of the popular altcoins you see today may not exist in the next couple of years. That’s just the reality of shitcoins, it’s a gamble. Sometimes it works and most times it doesn’t.

[Oasisman]

You bet! Butt without these constant reminder, people may have already learned the past mistakes for not keeping those bitcoin safe not expecting for it to go this big. Those are the once in a lifetime opportunities, but as people did not expect it, all of it has gone to waste. I'm pretty sure people nowadays are now keeping the coins they have accumulated from the smallest purchase down to the airdrops they got, hoping for a game changing results.

[panganib999]

Welp. It do be like that sometimes.

Bitcoin's rise to fameand glory isn't something that you can emulate in just a snap of a finger, so while I understand, and I wholly agree with not forgetting your keys and seed phrases, I say we can't really control what and how people will do in this situation, especially when you consider the fact that for the most part, to get rich in this industry you literally have to wait years and years, and even then there's no real guarantee that you're getting anything in the end. So yeah, don't forget your keys and seed phrases, but don't beat yourself up if you did.

[FinneysTrueVision]

There are many old wallets where I have lost the recovery phrase or private keys. Some of these wallets were used for claiming airdrops or bounties and I quickly forgot about them because the coins weren't worth much or I dumped my holdings. There was probably not much value in those wallets except for perhaps my Shapeshift wallet. I remember claiming an airdrop from it but then I deleted the wallet, a few years later they did a bigger airdrop where people were claiming thousands of dollars and when I tried to re-install it to see if I was eligible I could not recover it. Fortunately, I still had access to my Metamask wallet which was eligible and I made a nice profit from airdropped FOX tokens.

[Bananington]

If there's one thing that is certain about the realities that the Blockchain has opened our eyes to, it is that the future of money being decentralized intotal is feasible. Countries like El Salvador, even Britain use crypto, specifically BTC for payments.
I can also agree that the issues of taxing cryptocurrencies is one that is going to make it cement its place in the world history as a decentralized money that is an alternative to fiat currency.

[Marvelman]

~
However,  what am saying in essence is that whatsoever coin you have or you are mining please keep it safe and don't forget your password very important because you can't and will never recover the password.  I believed within a short time most of these coin will have a great value,  a value that one of it will change your story.

This post brings up a good point that we should be mindful of where we discuss different cryptocurrencies.  But, since this is a Bitcoin forum specifically, it would be better to focus just on Bitcoin here and take conversations about other coins to the Altcoin section.  

Keeping all your account details secure is certainly important no matter what - your password, wallet recovery phrase, etc.  Of those, the recovery phrase especially allows full access so guarding that is critical.  But really, all sensitive info like that should be treated carefully.

[Baofeng]

Most people never knew Bitcoin will be this huge and important because I wish they do everyone would've at least have 10 of it but again there are people who have this Bitcoin but because the value then was not encouraging most people lost their wallet password,  am saying this because I know most people do actually lost their wallet password before they heard Bitcoin is now a great coin.
However,  what am saying in essence is that whatsoever coin you have or you are mining please keep it safe and don't forget your password very important because you can't and will never recover the password.  I believed within a short time most of these coin will have a great value,  a value that one of it will change your story.

However, there is still time though to accumulate, it might not be as huge as what we plan because everyone is late or the timing is bad, but you need to be very positive and look for the long term, at least 5 years will be good to see and gauge if you really make it here.

Of course, you need conscious effort to accomplished it, like slowly accumulating and then holding and protecting all your assets be it bitcoin or any other altcoin if you are into it. So don't be discourage, and just look at bitcoin, one year ago we are at our lowest low, but check the price right now, we have gain more than 100%.

And I think investors in the last couple of years are getting smart and knows how to safely secure their private keys or mnemonic phrase.

[nakamura12]

This post brings up a good point that we should be mindful of where we discuss different cryptocurrencies.  But, since this is a Bitcoin forum specifically, it would be better to focus just on Bitcoin here and take conversations about other coins to the Altcoin section.  

Keeping all your account details secure is certainly important no matter what - your password, wallet recovery phrase, etc.  Of those, the recovery phrase especially allows full access so guarding that is critical.  But really, all sensitive info like that should be treated carefully.

This is indeed a Bitcoin forum where the focus is to discuss about Bitcoin but it is also not wrong to discuss altcoins because there's an alternative board for it. You may say that this forum is now for altcoins and coins but as you have said that this forum main discussions is all about Bitcoin. I agree that this should be Bitcoin discussions and not altcoins but there times where Bitcoin is compared to altcoins or bitcoin is mentioned together with an altcoin.

[oktana]

Most people never knew Bitcoin will be this huge and important because I wish they do everyone would've at least have 10 of it but again there are people who have this Bitcoin but because the value then was not encouraging most people lost their wallet password,  am saying this because I know most people do actually lost their wallet password before they heard Bitcoin is now a great coin.
However,  what am saying in essence is that whatsoever coin you have or you are mining please keep it safe and don't forget your password very important because you can't and will never recover the password.  I believed within a short time most of these coin will have a great value,  a value that one of it will change your story.

I understand what you're trying to say, but let me bite on this statement about most people who knew about Bitcoin back then. The truth is that we keep forgetting to factor in the strong possibility that even if you bought Bitcoin back then, you would have likely sold it long before now. Someone who bought at let us say $30, even at $ 1,000 will sell off. So these people we calculate to be early birds, they most likely don't have Bitcoin anymore. Even the guy who sold the most expensive pizza for 10,000 Bitcoins, he lkely has an empty wallet for a really long now.

Coming back to your topic, Bitcoin has taught us a lesson, and I believe that record has served as motivation for many people, and the decision to hodl is now even stronger.

[btc78]

well even though bitcoin’s potential was explored before, not everyone believed in it and in result people did not give much importance to the coin

it sucks to have found out about bitcoin a little later but for those who invested early, they might not have the information we have today the creation of internet was revolutionary but comparing the internet before and today there’s such a huge difference

in a way because of the early investors’ past experiences and mistakes, we got to learn and now we can avoid doing the same mistakes

[Assface16678]

True, but what is done cannot be undone. I guess there are many people or holders of bitcoin who, in the past, forgot about their wallet or lost their seed phrase, which is important for them to access their wallets, but that's their fault and also their biggest regret. It's just that they are the few who missed the biggest opportunity, or, let's say, bitcoin was in their hands but slipped. Well, it can't be helped.

They still have a chance to invest in bitcoin, and I think they do. Also, that's why there are a lot of bitcoins circulating in the market, or liquity; those are the bitcoins we considered locked or forever lost. For example, like what I've mentioned about forgotten wallets that contain bitcoins or hard drives that have bitcoin, there are a lot of stories regarding this scenario. So it's a lesson: keep safe with your seed phrases, as they are the keys to your fortune.

[n00ber]

There are many old wallets where I have lost the recovery phrase or private keys. Some of these wallets were used for claiming airdrops or bounties and I quickly forgot about them because the coins weren't worth much or I dumped my holdings. There was probably not much value in those wallets except for perhaps my Shapeshift wallet. I remember claiming an airdrop from it but then I deleted the wallet, a few years later they did a bigger airdrop where people were claiming thousands of dollars and when I tried to re-install it to see if I was eligible I could not recover it. Fortunately, I still had access to my Metamask wallet which was eligible and I made a nice profit from airdropped FOX tokens.

We should not throw away old wallets because in this market anything can happen. Not only with the bitcoin wallet, I also kept the bounty wallet and airdrop wallet for many years. Although they are not valuable tokens now, anything can happen as you have experienced. Since joining the market, I have never lost a wallet. I store wallets that are no longer in regular use on my own USB. I advise people not to throw them away because anything can happen.

[SOKO-DEKE]

Most people never knew Bitcoin will be this huge and important because I wish they do everyone would've at least have 10 of it but again there are people who have this Bitcoin but because the value then was not encouraging most people lost their wallet password,  am saying this because I know most people do actually lost their wallet password before they heard Bitcoin is now a great coin..

It always hard to tell what will happen in future about Bitcoin price and that why we are been advised by some people in crypto industry that should invest what will can afford to lose. Even now, we assume that it is possible that we actually know how the Bitcoin price will increase. A lot will have accumulated some huge numbers of Bitcoin, but because nobody can actually tell what will happen to the price of Bitcoin, they are investing what they can only afford to lose. Despite this,  there is little hope that Bitcoin may continue gain value due to its history of halving that backs it up.many people that have lost their wallet passwords at past. It may not be because they are not aware of Bitcoin price gain value, but it may be because they are not properly oriented about the wallets. Even now that the Bitcoin price is so high, some people are still losing access to wallets because they not well proper oriented.

However,  what am saying in essence is that whatsoever coin you have or you are mining please keep it safe and don't forget your password very important because you can't and will never recover the password.  I believed within a short time most of these coin will have a great value,  a value that one of it will change your story.

Yes, you have provided sound advice, but the truth is that I will only suggest buying Bitcoin and not any other cryptocurrency because a lot of them pump and dump and end up being worthless forever.I still won't advise anyone to invest in altcoins with the belief that they would increase in value after they dump. but it is a good idea to keep any wallet you have with any kind of coin properly because it may be possible can rise again, but probably of many altcoins to again is very low expect Bitcoin. Many of altcoins were made only to scam people, thus I think they will never rise again.

[wxa7115]

Most people never knew Bitcoin will be this huge and important because I wish they do everyone would've at least have 10 of it but again there are people who have this Bitcoin but because the value then was not encouraging most people lost their wallet password,  am saying this because I know most people do actually lost their wallet password before they heard Bitcoin is now a great coin.
However,  what am saying in essence is that whatsoever coin you have or you are mining please keep it safe and don't forget your password very important because you can't and will never recover the password.  I believed within a short time most of these coin will have a great value,  a value that one of it will change your story.

There is not enough bitcoin for everyone to have 10 BTC, that is part of what it makes bitcoin valuable, and while I do think there were many people that got surprised bitcoin was able to gain so much value over a period of time that was relatively short, there is not really any excuse for those persons to lose their seed words pr private keys.

Because from the beginning they have known how bitcoin works and they knew they had to keep that information safe, so they have only themselves to blame over this.