Post
Topic
Board Bitcoin Discussion
Re: People still losing their coins?
by
Cryptmuster
on 08/03/2025, 10:50:19 UTC
On the occasion of what a colleague of the local forum said, and that I translate to you:

I mentioned not long ago how a friend of mine lost half a Bitcoin by saving it in a wallet on his cell phone, and since he opened it with his fingerprint, he didn't think it was necessary to copy the seed, not even the wallet's password. Until some update asked him for the password and he is still looking for a way to find it out.

I wanted to ask you if you know of similar cases in recent years.

We all know that in the early years a lot of bitcoins were lost because they were worth pennies, most people didn't even imagine where this could go, there was no HW and things like that. But even though the bitcoin loss rate has been reduced in the last years I am sure there will still be human errors like the one in the quote that will end up with bitcoin loss, which is not bad for the rest because as Satoshi said they are like a donation.

Do you know of similar cases?



Such stories happen quite often with beginners, especially often it happens for those beginners who do not understand the meaning of the seed phrase, and this is the basis of the basics, because with bitcoin you yourself become a bank and all responsibility for the safety of your coins lies only with you.

I always thought that it is good when this happens to beginners, because in the future it will become an invaluable lesson, and of course it is best if this happens with some altcoin that is not worth much and which will only get cheaper over time, and few will regret it in the future. But if we are talking about bitcoin, then over time it can only get worse, because it will become more expensive and the amount on the wallet to which there is no longer access will increase, such a torture for a mistake. Haste is bad, first you need to study everything thoroughly, understand the responsibility, and only then start buying bitcoin.