Bitcoin & Crypto & NFT News
We’ve all lost money. It’s a hard pill to swallow. And we know there is absolutely no way of getting our money back. However, with Bitcoin or crypto, it’s so much worse because you know the money is there, but completely irretrievable because you’ve forgotten a simple password. Ouch!!
Programmer, Stefan Thomas has been locked out of his Bitcoin wallet. Thomas had 7,002 bitcoins stored on a secure hard drive and he can’t access them because he forgot the password.
The value of the inaccessible Bitcoin is said to be around $220 million. The coins were stored safely with an IronKey device that gives you 10 chances to enter your password correctly. Thomas had tried several times, with no luck and the last update in January 2021, was that he had 2 attempts left.
He’s made peace with the potential loss, but we’re not sure we have. It’s a shame there is no prompting question, like what is the name of your first pet? Or what was your favourite toy as a child?
We all Heard "Not your keys, Not your Coins". Well let's break it down what's the best way to Store your Bitcoin. Exchanges, Hot, cold Wallets etc.. What's the best?