If you ever thought you had a bad experience with a forgotten password, San Francisco programmer Stefan Thomas is now two assumptions away from losing $ 220 million in Bitcoin. According to The New York Times, Thomas is just one of many early Bitcoin investors who forgot the security keys of their digital wallets when the cryptocurrency exceeds the $ 33,000 mark.
During the childhood of Bitcoin, Thomas received about 7,000 coins from one of the first investors for making a video explaining the currency. When the cryptocurrency reached an impressive new peak, Thomas tried to access his digital wallet, but after eight incorrect assumptions, he realized he had forgotten his password. It is also important to note that the specific wallet Thomas used to store his Bitcoin has a system that cleans the wallet after 10 incorrect assumptions. With just two more attempts, Thomas saved his hard drive while looking for another way to access his Bitcoins.
Thanks to Bitcoin’s decentralized and anonymous nature, there is no real way to recover a forgotten password. Some reports note that almost one in five Bitcoins is permanently lost with the total value of Bitcoins lost estimated at almost $ 140 billion.
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