There is nothing more annoying than losing money yourself. You let others take care of your money, and others lose your money.
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A word often said by the big circle members is "If you don't control the private key, you don't really own a cryptocurrency"; therefore, the two rules that everyone in the circle should follow:
- Protect your own private key
- Never forget to follow the first rule
We've heard a lot of stories about the richness of the currency industry. This article focuses on those who are not so lucky. They have not been able to make money from Bitcoin.
It's all forgotten
You can't just throw an old computer with private keys into a small room just because the price of Bitcoin hasn't risen. One guy did just that. It was 2010, and bitcoin had little value. A geek named Syl Turner dug out two bitcoins, but because the two bitcoins were worthless, he threw the old computer that stored bitcoin into a small room. in.
Seven years later, when the price of bitcoin reached $ 20,000 a piece, the software developer from Atlanta remembered that he had mined bitcoin. But it's too late. The computer was unusable due to long-term storage, and all the data stored in it could not be retrieved. Turner, who was originally happy, could only end in disappointment.
Tell us about the tragedy of the waste treatment plant
How can we forget James Howells, an IT male from Newport, when we talk about this poor group of Bitcoiners? When Bitcoin price was about $ 130, Howells claimed that he had thrown away the hard drive that stored Bitcoin. The hard drive should already be in a waste disposal plant.
He said he did put the hard drive containing the bitcoin private key in a bedroom drawer. He also said that he didn't know who threw the hard disk in the dustbin and was then sent to a waste treatment plant for disposal.
A person named Dalton Mackey once purchased 25 Bitcoins and deposited them in a client wallet on a computer. After the computer system crashed, he bought another new computer, but forgot that there were still 25 Bitcoins in the old computer. It wasn't until the cryptocurrency skyrocketed that he realized he could have become a millionaire.
He bought the coin, but he lost the USB key storing the private key
We all have friends who lost their wallets in the mall or left their phones at Starbucks. But what if you lose a USB flash drive with a Bitcoin private key? Let's take a look at John's story. In 2012, John, then a college student, bought 10 bitcoins and stored the bitcoin private key in a USB flash drive. Later, okay, no later, because he lost the USB stick.
Sad stories of old Irish men
This is a sad story about Irish people losing coins. Clifton Collins, an Irish drug dealer, distributed 6,000 Bitcoins to 12 newly created accounts, each with 500 Bitcoins. Then, he printed the private keys of all his 12 accounts on a piece of paper, and he said that he stored them in the box of the fishing rod.
Later, the "drug dealer" was arrested for smuggling contraband, and the landlord threw away Collins' items, including his fishing rod.
Fortunately, Collins accepted his loss and said it was "a punishment for his stupid behavior."
Let's not forget the lessons of Wired
We are stupid, but we are not alone.
In 2013, workers at Wired's San Francisco office collected 13 bitcoins, which were mined by Butterfly Labs using a mining machine. But today these bitcoins have been completely lost. They forgot their private key, and no one remembers the 64-bit random number string.
Bitcoin haters who have not lost Bitcoin
As a person who hates bitcoin, Peter Schiff is also on the list. It forgot the wallet password and blamed it for the reason it was Bitcoin. Schiff mistakenly used his password as a wallet mnemonic and lamented that his wallet was broken on social media one Sunday morning. Later, he tweeted that "his bitcoin mystery" had been "unsolved" and his app was updated and his wallet was cancelled. Can you guess why? Schiff never knew to use a "private key (mnemonic)" and never backed up the wallet's private key.