Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: South African Man Loses $900,000 Worth Of BTC After Accidentally Deleting Keys
by
o_e_l_e_o
on 21/08/2021, 14:34:59 UTC
⭐ Merited by vapourminer (1)
What a hugely unfortunate boating formatting accident. I can confirm though, I was there at the time and this person also deleted all of my keys too.

Well, this is one of the major risks associated with using bitcoin. With a simple mistake, one can lose all in a twinkle of an eye.
This is not a flaw with bitcoin - this is a flaw with the user. If you can lose all your coins following one simple mistake, then your security set up sucks and you should take immediate steps to fix it. If your entire holdings are stored on one hard drive with no offsite back ups, no written down seed phrases, no redundancy at app, then you really have no one to blame but yourself when you lose everything because that hard drive becomes lost, damaged, stolen, fails, gets water spilled on it, or anything else.