Something you don't have to forget

[arimamib]

One of the great upsides of this is that all those people who forgot or can't access their coins basically took some bitcoins out of the market, creating scarcity and that means we have a lot less bitcoin. The biggest example would be 1 million for satoshi, and there are probably millions more, and there are millions that are being held as well and not sold, for long term holding. This creates a very tiny amount of bitcoin compared to general how much there is, that is in the market. So when there is this little amount in the market, we all trade the same coins back and forth, and this demand/supply balance is getting shifted towards demand over supply, when all these people forget their access.

The loss of bitcoins due to a lost access devices is indeed a contributing factor to the overall scarcity of bitcoins in circulation. With a finite supply of 21 million bitcoins, every bitcoin that is lost effectively reduces the total number of available bitcoins, making the remaining ones more valuable.

The loss of a significant amount of bitcoins, because a smaller circulating supply can lead to increased demand, which in turn can drive up the price of bitcoin. the long-term holding of bitcoins by investors further reduces the amount of bitcoins available for trading, contributing to the scarcity dynamic. This behavior is often driven by the belief that bitcoin has the potential to appreciate significantly in value over time.

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[BitcoinPanther]

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.

Many failed to think that Bitcoin will surge like this so they taken Bitcoin for granted but now many are expecting that Bitcoin will continuously uptrend but never forget that the opposite might happen.  Bitcoin future is still uncertain, I am also one of the believer of that even though I am a supporter of Bitcoin.

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.

Historic event cannot predict the future.  There are huge companies that has been on the pinnacle of success eventually shut down.  I am not spreading FUD but just some reality check that Bitcoin is still highly volatile and anything can happen in a matter of one night.

[Mame89]

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.

I'm not as lucky as you. The keys to my wallets that I took part in in airdrops or bounties are no longer there, actually they weren't thrown away on purpose, it's just that I was careless when saving them so I can't access them anymore. Understandably, in the past I didn't care about wallet keys, let alone wallets with coins that had no value at all, and this is one of my regrets now.

Currently, many are well educated about crypto wallets, both BTC and Altcoin wallets. Never throw it away, whether you have assets or not, because one day the wallet will be useful for us. As happened with the eth wallet which once held an airdrop with the condition that you had to use the old eth wallet. This is just a small example. Not to mention old coins that used to have no price, but a few years later they have a price.

[Hypnosis00]

Until people don't believe in crypto and Bitcoin, they won't see the potential it gives to us, they will still ignore it. This is why even though the name of Bitcoin has been spread globally only a few people got interested in knowing it more because of the negative news spread as well.
In fact, we never expected the price of Bitcoin will reach this price and hit ATH and this is what gives us holders the courage to invest more and appreciate Bitcoin. Our experience helps us understand and see how valuable is this project not just in terms of investment but the future of the currency system.

[_BlackStar]

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

I would even be very surprised if you missed the opportunity to buy bitcoin at a price below $500 at that time. Of course - many people missed their chance and maybe they started regretting it after getting the fact that bitcoin actually hit $69K in 2021.

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.

I heard a lot of stories about how people sold their bitcoin at low prices in late December 2014 to January 2015 - but they were really surprised that in just 2 years bitcoin hit a huge ATH in late 2017. That's just a piece of the story I've heard - but there are many other things that have happened before and they have decorated Bitcoin's journey to date. One of the biggest and celebrated stories till now is 10,000 btc for pizza.


Losing your private key or anything else that means you can no longer access your wallet is something very unexpected. Bitcoin used to have no value and it may be true that some people are not interested in keeping their wallets and keys safe - but now bitcoin is the most sought after investment asset.

[CryptopreneurBrainboss]

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.

Investing in altcoins are a gamble and not a guarantee investment like Bitcoin. Your post is trying to compare altcoins with Bitcoin which is very wrong as they're in no way alike. Most altcoins will end up not existing in the next 5 years but Bitcoin will be trading and still very popular because it controls the whole industry and has years of trust from the community. Don't hold altcoins in expectation of having similar success to Bitcoin as you'll end up more disappointed than you'll actually hit the jackpot with one. Altcoin are good for speculation and if you invest in them get rid of them before they start been worthless.

Every bull market, new altcoins get launched and there's no guarantee that they'll be around when the next bull market comes. Altcoin survive on hype so when that's not coming any longer, they'll stop giving profits and start declining. If you have any altcoin make sure you take profits before they start losing value but Bitcoin should be held because we'll only have 21 million supply of Bitcoin and soon it won't be this cheap any longer as we have more institutional investors coming into the industry with their large bank accounts to get a fair share of the market.

Security on the other hand is very essential in the industry because without been security cautious, you'll lose your investment very often to scammers as they're numerous in number waiting on their next victim to defraud. Learn to use only non custodial open source wallets that you're guarantee full control of your Bitcoin in your wallet and don't store your coins on exchanges.

[EluguHcman]

You are right talking digging out the feelings of everyone who had failed to invest on Bitcoin when it was newly introduced and those who had a short-time patient that disposed their wallets simply because the value of the assets where poorly unacceptable.
Yeah. But I can also sense it that you are tactically asking is to adopt other crypto coins without undermining its Poor values.
Not a bad one at all for all we strives for is making the money. The fast increments and advancements  of Bitcoin to today comparing to those years past should leave us all who expects the price to go lower before they could invest that they should invest before another regrets comes else another regrettable time would come again for the categories of persons.

[Asiska02]

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.

Because of the number of total supply of bitcoin limited to 21M, not everyone will have at least 10BTC in their wallet if they’d all found interest in the coin and wanted to keep some for themselves even when the price was worth nothing at that time. Now that the price have increasingly became more valuable, people still don’t have the access to own more of it couple with the fact of high cost of it and loss of seed phrase of some wallets due to carelessness or death, so this scenario would have reduced the total supply of bitcoin and we won’t have each individual having at least 10BTC when all the 21M BTC have been mined.

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.

You can’t be so sure of that and you don’t have to give people the confidence that they should invest in whatever coin they can and keep it because it’ll become great value in the future. Only bitcoin can be ascertained to become more valuable in the future, some altcoins will too but you can’t tell any of them that can and cannot become more valuable in the future. In order not to live a life of suspense that will lead to disappointment of not achieving your desired goals, it is better to stick to only bitcoin and make the maximum and best possible profit out of it in the future which you’re sure of. It is better to invest your money in certainty than to invest in speculation.

[blckhawk]

The security of most wallets are the greatest bane as it is the greatest boon for many people, with the security they applied, you are secured that no one is going to be able to brute force your wallet and that your bitcoin is safe stewing away in the wallet but the problem is that as years go by of hodling, you as a human being are going to be experiencing a lot of different and new things and those experiences will be memories and with those getting in your head some of these people eventually need space for those new memories although it is not really removed entirely, it is muddled with your other memories and we know that when we use passwords that frequently, we will not have a problem remembering but in the case of bitcoin wallets that you do not usually use to log daily, you eventually forget the password unless you have been using the same password for all your accounts then you do not have a problem. A piece of paper can help you remember but at that time when bitcoin was still not worth a lot, people did not really mind taking notes of their passwords.

[Natsuu]

It's true that the rise of Bitcoin caught many by surprise. Security and remembering passwords are crucial in the world of cryptocurrency and keeping them safe ensures you have access to potential future value. The crypto landscape is dynamic and many people will be open on what crypto could offer over time. It surprises us always.

[Pandu Geddon]

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.

Yes, it is a valuable experience that should be remembered by anyone who plans to store their assets in a wallet. it is their responsibility to store everything safely.
no one predicted that Bitcoin would grow so extraordinary. but we can see the progress of growth that occurs in Bitcoin. and we must be able to choose assets to save and those that are hopeless.
such as surprises from old wallet owners who have transacted on certain exchanges and qualify for an airdrop. such an event might not happen in a short time. but we see that kind of thing happening.

Always keep your wallet and keys safe, no one knows when we need them again in the future.

[mamesso]

At that time Laszlo Hanyecz never knew Bitcoin would be this popular, if he had known, he would not have exchanged his 10,000 Bitcoin for 2 large pizzas, he also advertised this on this forum, you can see the topic here Pizza for bitcoins?. Many stories end tragically due to non-technical factors such as losing or forgetting the private key, accidentally throwing away the hard disk containing Bitcoin as experienced by James Howell and other things that cause regret when they find out that the price of Bitcoin is getting higher. Those who sold early because they didn't know Bitcoin would be trading at the high prices it is today will regret their decision, but this is all a result of their ignorance of Bitcoin's potential.

Now that Bitcoin is starting to be accepted by all levels of society in all parts of the world, past failures or mistakes experienced by other people or personal experiences must be used as lessons for the future. Regret is of course the result of not collecting Bitcoin when it was still trading at a cheap price, but that is all in the past, now let's look at a brighter future by collecting Bitcoin little by little to achieve success in the future.

[arjunmujay]

That's right, there are still many people who use bitcoin as a short-term investment, or even just for temporary pleasure and never thought that bitcoin could be this big and expensive.

I know bitcoin starting in 2017, and began to be interested in exploring further in this forum. but it never occurred to me to silence bitcoin until now. when I got bitcoin I immediately sold it to meet my daily needs. that's why I failed to make bitcoin a future asset.
if in the past I was not too loyal to sell my bitcoin, surely now the price is very expensive and can even become a rich man in my area.

after all this time learning and getting to know bitcoin, I have begun to realize to set aside some bitcoin for the future. and will share seed bitcoin with my child. because I realize that I will not live forever and hope that my child can continue the bitcoin assets that I install little by little for his future.

[bitterguy28]

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.

Keeping your password safe and intact is like keeping your physical wallet safe each time because that is same as how we are making our life that safe.
and also bitcoin is already in great value  because that is what you already said in the top part of your post .
you are just reminding us what we already knew but thanks for that still.

It's true that the rise of Bitcoin caught many by surprise. Security and remembering passwords are crucial in the world of cryptocurrency and keeping them safe ensures you have access to potential future value. The crypto landscape is dynamic and many people will be open on what crypto could offer over time. It surprises us always.

actually those who are surprised are the people who did not trust bitcoin at all because if you have bought this from then surely you are expecting this to reach a high value like how much it is now.

[taufik123]

-snip-
Security and remembering passwords are crucial in the world of cryptocurrency and keeping them safe ensures you have access to potential future value.

More precisely, it is security to store the Private key or Seed Phrase properly.
Instead of just remembering the password, it's better to write it down on a stainless steel plate and store it somewhere out of reach by others.
The use of hardware wallets is also a good recommendation.

At that time Laszlo Hanyecz never knew Bitcoin would be this popular, if he had known, he would not have exchanged his 10,000 Bitcoin for 2 large pizzas, he also advertised this on this forum, you can see the topic here Pizza for bitcoins?. Many stories end tragically due to non-technical factors such as losing or forgetting the private key, accidentally throwing away the hard disk containing Bitcoin as experienced by James Howell and other things that cause regret when they find out that the price of Bitcoin is getting higher.
-snip-

All of these events become part of Bitcoin's history that will continue to stick and never be forgotten.
Seeing how history happened makes us more motivated.

Even dark histories such as Ponzi investments, the biggest scams or even like the major event of the Mt.Gox Exchange Hack which made the Bitcoin trend even more devastated at that time and now FTX as an Exchange managed by fraudsters and made many people experience losses.
There are more Bitcoin stories and more positive stories related to Bitcoin as well.

[bettercrypto]

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.

You know, if we look at Bitcoin today, we will literally think that it is not worth it to buy because it is very expensive and it is too volatile, so the risk here is high. This is if you do not know and understand Bitcoin. But if you have knowledge about this, there is no room in your mind for the previous ones if they are mentioned.

And if there is someone else who forgets the password, seed, and private key, that is because of the negligence called for, so it is important to keep them, because even if a few years have passed, the chances are really high that the price will be high. Bitcoin's value as long as we don't give up on what we believe will be the way to the future we want.

[Bushdark]

It's true that the rise of Bitcoin caught many by surprise. Security and remembering passwords are crucial in the world of cryptocurrency and keeping them safe ensures you have access to potential future value. The crypto landscape is dynamic and many people will be open on what crypto could offer over time. It surprises us always.

When we add value to something we don't forget it easily like the way we can forget other things we have.
The is profits in investing I'm Bitcoin or the entire cryptocurrency market. We all have to put a level of importance to our cryptocurrency investment for us to make more profits from it. What we value is what we are going to keep investing and giving our time.
Those that are great profits from the market put lots of focus on it especially on the tokens they are holding keeping watch in them.

[AprilioMP]

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 who came earlier than most people who were still outside would learn from their experiences that came earlier than me about what made me not regret.
Everyone will take good care if they know something they have have value. Various ways will be done for the safety of something that is owned. An item that is worthless and valuable will not be treated like a valuable item. Someone leaves an item abandoned without treatment. Bitcoin, who is now the best coin that is valuable, maybe people at that time did not care and did not want to care how his fate was in the future.

From the owner of Bitcoin who used to not care whether or not it is important or not can make a valuable lesson for those of us who come late from them to maintain well Seed Phrase or Private Key.
Seed Phrase and Private Key as the most important thing for Bitcoin access will not be obtained if we keep Bitcoin not in the wallet.

[Twentyonepaylots]

It's true that the rise of Bitcoin caught many by surprise. Security and remembering passwords are crucial in the world of cryptocurrency and keeping them safe ensures you have access to potential future value. The crypto landscape is dynamic and many people will be open on what crypto could offer over time. It surprises us always.

Well we can't blame others who didn't take care of their seed phrases back then, most of us didn't know how world would revolve after all. I mean there are people thought that the end of the world was in 2012  I hate to say that we are surprised by what the crypto is now, we saw the process that lead it here, the right word is we are skeptical to it in numerous times, we are affected by FUD by many influential people especially the media. Don't get back to the past, we cannot rewrite it thought history shall be kept. Now let's talk how this be more adoptable in more industry, widely used than ever.

[adultcrypto]

There are several reasons while some early holders of Bitcoin might not have them or access to them now. Some never saw Bitcoin as anything of value then because it was practically worthless. Some also held but were not careful enough to protect their Bitcoin, hence they lost them.

It is not actually easy believing something like Bitcoin at a time when no one actually know what the future holds for it. It take huge courage and foresight to believe in Bitcoin and still hold till now.

As for those mining other coins, it will be easier for them to HD and save them properly because they have a reference which is Bitcoin.