Don't Let Your Bitcoin Be Lost Forever

[MastetG]

cryptocurrency (or crypto currency or cryptofor short) is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of computerized database using strong cryptography to securetransaction records, to control the creation of

 

[Nurudeen]

This is a good topic to discuss on. A lot of family members have lost some investment from maybe there parents, uncle's or sisters just because they didn't disclose the details of the type of investment they are into before there demise. I think each crypto currency exchange platform should include next of kin login in case of any eventuality.

 

[giddy]

Courtesy of these ALUs, the GPU is capable of performing more calculations, leading to improved output for the crypto miningprocess. GPUs are devised to do better in performing similar and repetitive work than the performing of diversified multi-tasking functions, like those of the CPU

 

[westmania]

Statistics has revealed that more than $4 million worth of Bitcoin has been lost so far.
It was also reveal that the two possible ways that could have lead to the Lost of these coins are ; those who lost their private keys and those who died without giving out their private keys. Those who died without giving out their private key constitute more to the number of lost Bitcoin.

Having said this , it is then ideal that we share our private key with our loved and trusted ones , so that of anything happens to us , our bitcoins won't be lost forever.

What do you think about this ? , Isn't it better that our loved ones uses our bitcoins than allowing it to be lost when we die

Liked your very last line ! Resources or wealth is for enjoyment. not to showcase in bank or wallet in the end.

I usually dont hold bitcoin. Once I did so while I do regular faucets. once I started trade Tether is more popular to me. I like to increase it. But I know secure wallet means a lot for long time asset holders.

 

[Kamon c4]

Well you’re right. Private key is an information that should be kept secret but at least one person should have knowledge about it in case anything happens. Though it’s not ideal to trust anyone but leave a hint. That way your cryptocurrency can’t be lost forever

 

[zagzagi]

I don't know if I want help on the right topic. But I guess multisig wallets were closed in 2018 at Coinbase. I had Bitcoin wallets that I opened with different emails at Coinbase. There is currently around USD 28 for 0.00077558 BTC.

I did some research and found out that there is a tool for this on the github platform. However, there is a Coinbase key, Shared key and User key requested. I could not fully understand them. Does anyone know about this? I can also pay a percentage to those who can help. I don't want to lose my bitcoin savings forever.

 

[BrolySSJ]

I had most of my details on my mail as backup, I also have them pasted in the Microsoft word soonest I will print it in hard copy and keep it somewhere safe , this is far most secure way to recover any lost item in soft copy or online.

It is very dangerous to have you information stored in your mailer as your mail can be hacked and therefore the hackers will have access to your funds. This is of course unlikely if you have good security surrounding your mail, however the possibility is there. I think that sticking to the hard copy method that you have employed is likely to be the best idea moving forward for security of your funds and your bitcoin.

 

[Ridorz]

It is good ideas to write a secret security code on a jotter Incase of losing or forgetting. And it is advisable to show or share the security code with the lovely and trustworthy one in case of incasity of death so that the Bitcoin will not go lost as that for ever.

 

[Tiwa]

Statistics has revealed that more than $4 million worth of Bitcoin has been lost so far.
It was also reveal that the two possible ways that could have lead to the Lost of these coins are ; those who lost their private keys and those who died without giving out their private keys. Those who died without giving out their private key constitute more to the number of lost Bitcoin.

Having said this , it is then ideal that we share our private key with our loved and trusted ones , so that of anything happens to us , our bitcoins won't be lost forever.

What do you think about this ? , Isn't it better that our loved ones uses our bitcoins than allowing it to be lost when we die

I hace experienced this situation.I forgot my password to blockchain and that was it. I couldnt retrieve it. I have tried so many psswords I usually use and even the not so used ones to no avail. So painful. Going forward, whatever password I have thats not my veryday usage, i make sure to sent the password to myself as a mail. or in a special folder on my mail box.

 

[ahmedo24]

I hace experienced this situation.I forgot my password to blockchain and that was it. I couldnt retrieve it. I have tried so many psswords I usually use and even the not so used ones to no avail. So painful. Going forward, whatever password I have thats not my veryday usage, i make sure to sent the password to myself as a mail. or in a special folder on my mail box.

That's is a very good preventive measures you have adopted , though the safest way is download the app which doesn't require much of password but the use of pin or finger prints to access your Wallet. I have also saved my password else where.

 

[Chumzy]

This is a very important topic to discuss. I just thought about it and it made so much sense.
It is really sad because this feels like a shortfall to crypto entirely.
For banks, your next of kin can always come to claim your money, but for crypto, it is lost.

 

[Goodday]

Statistics has revealed that more than $4 million worth of Bitcoin has been lost so far.
It was also reveal that the two possible ways that could have lead to the Lost of these coins are ; those who lost their private keys and those who died without giving out their private keys. Those who died without giving out their private key constitute more to the number of lost Bitcoin.

Having said this , it is then ideal that we share our private key with our loved and trusted ones , so that of anything happens to us , our bitcoins won't be lost forever.

What do you think about this ? , Isn't it better that our loved ones uses our bitcoins than allowing it to be lost when we die

It is surely better to give our private keys to our trusted and love ones so in case any unexpected event happened, our bitcoins will be lost forever.

But don't you also think sending bitcoins to wrong addresses also constitute some percentage of the Lost bitcoins so far?

 

[Tiwa]

That's is a very good preventive measures you have adopted , though the safest way is download the app which doesn't require much of password but the use of pin or finger prints to access your Wallet. I have also saved my password else where.

I m not so okay with leaving it at password with app. What will happen in the case of phone loss? Which is why that option of storing away in email or else where (offline maybe) is a good back up option.Loss of coins due to access is a preventable loss.One just need to put measures in place.

 

[Iamsodex]

In as much as you wouldn't want to lose your crypto coins, it's also not advisable to share your seedphrase with just any one as they already have full access to do as they wish with your coins without your consent but if you have someone you trust so much and believe he is she wouldn't rip you off your coins then you can share your wallet seedphrase with them.
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In as much as you wouldn't want to lose your crypto coins, it's also not advisable to share your seedphrase with just any one as they already have full access to do as they wish with your coins without your consent but if you have someone you trust so much and believe he is she wouldn't rip you off your coins then you can share your wallet seedphrase with them.

 

[Ojonuyo]

You are right, having a private key can prevent us from losing our bitcoin. The above explained only gave preventive measures to apply but not how to recover them back. I have lost bitcoins in the past and I know of friends and family who lot their coins too. Just in case anyone know how to recover them back, please share.

 

[Heatman]

Statistics has revealed that more than $4 million worth of Bitcoin has been lost so far.
It was also reveal that the two possible ways that could have lead to the Lost of these coins are ; those who lost their private keys and those who died without giving out their private keys. Those who died without giving out their private key constitute more to the number of lost Bitcoin.

Having said this , it is then ideal that we share our private key with our loved and trusted ones , so that of anything happens to us , our bitcoins won't be lost forever.

What do you think about this ? , Isn't it better that our loved ones uses our bitcoins than allowing it to be lost when we die

In life even though they say that you shouldn't trust anyone but in reality you definitely have to trust at least one person as a contingency plan because of cases of unforseen circumstances like death. Personally, my brother knows everything about my investment and all my passwords for all my accounts in case anything goes wrong.

 

[ahmedo24]

I m not so okay with leaving it at password with app. What will happen in the case of phone loss? Which is why that option of storing away in email or else where (offline maybe) is a good back up option.Loss of coins due to access is a preventable loss.One just need to put measures in place.

Sure i am aware of likely loss of phone, I also keep the details of the apps in offline form and my emails too but having app is much more easier and accessible any time compare to the web version where password will be required upon login.

 

[Mawome]

For one to avoid lossing his or her Bitcoin, I think they needs to be very careful concerning the password keeping it safe especially where family members can find it when they are no more. It should be well documented and protected

 

[lymelyte]

The issue here is lack of trust we have for ourselves.. Generally, I think everyone should have at most one person you Trust in this life. Whom atleast have your email and pwd where all the keys, details and digital assets are kept..it is very important

 

[Heatman]

For one to avoid lossing his or her Bitcoin, I think they needs to be very careful concerning the password keeping it safe especially where family members can find it when they are no more. It should be well documented and protected

I have made the habit of storing / saving all my passwords and social security numbers in my Gmail. It helps the recovery of these information very easy and more secure than just writing it down. What happens when you lose the paper where you had them written down?