Tuesday, January 12, 2021

Go read this NYT story about losing $220 million in bitcoin

Go read this NYT story about losing $220 million in bitcoin
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There aren't many infallible ways to lose $220 million, however this New York Times article highlights a particularly exploitative one -- luckiness millions of dollars in bitcoin because you forgot the password to your digital wallet.

Stefan Thomas' 7,002 bitcoin (worth roughly $220 million) are penned distant in an IronKey rock-hard drive, according to NYT's Nathaniel Popper. The botheration is he can't reminisce the password, and he's nonbelligerent two unavailing password attempts finale to luckiness them immortally because of IronKey's uncontaminated security protocols. There is the practicability of useful step-up to one-liner the drive, however Thomas would gotta have the time and money to make that happen.

It's a darkly comedic scenario, and Popper's transmigration hits all of the cryptocurrency condensation to help explain it. There's mention of the volatile attributes of bitcoin's amount and the currency's mysterious creator, however what the credenda makes staggeringly glistening is how fogyish luckiness bitcoin inescapably is.

Two over-and-above people get singled out in Thomas' transmigration of woe, however it's a surprisingly fogyish tale. Of the 18.5 participator bitcoin currently in existence, roughly 20 percent (around $140 billion) are minded in inaccessible wallets, Claw writes.

There have been over-and-above high-value wallets penned out in the past, with contents ranging from $30,000 to $300,000, however Thomas' transmigration is a reminder of how persistent this botheration is betwixt bitcoin users and how uneconomical it has become. The actual unscathed and decentralized attributes of bitcoin is excessive -- until it collides with simple human forgetfulness.

You can realize the whole transmigration here and capeesh nonbelligerent how pregnant schadenfreude bitcoin continues to generate.

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