Post
Topic
Board Beginners & Help
Merits 1 from 1 user
Re: A little ignorance and you can lose all your holdings
by
albon
on 29/02/2024, 19:09:51 UTC
⭐ Merited by Cricktor (1)
I think people should get more educated about bitcoin even before teaching them to accumulate it cause if they are not careful they end up losing it and think about losing 8 years with of accumulated bitcoin just for a ignorant decision like this.
The story you mentioned doesn't point to just a little ignorance but to maximum ignorance.

How is it possible for this massive amount of Bitcoin to be stored on a single hard drive? Why didn't he buy 5 to 10 hard drives to store backup copies of his wallet recovery information, or why didn't he purchase Hardware Wallet and its fire-resistant Seed Phrase Backup Tool, such as Cryptosteel? This person is genuinely reckless because if he knew that he had a massive fortune, he wouldn't have risked years of holding their Bitcoin in the blink of an eye, nor would he have trusted one of the data recovery specialists as he did. If the person could not take all rational measures and decisions to secure his seed Phareses, he would regret it for years of his life due to his ignorance and lack of experience.