Topic: Another wallet key lost. (Read 519 times)
Maybe your friend doesn't really understand the importance of storing phrases to restore the wallet, I have a pretty good habit when making a new wallet that I write on a piece of paper and I save it well so that one day if my mobile crashes I still have the note to backup it.
Yesterday someone I knew uninstalled his wallet from his android phone mistakenly and he told me to help him recover his wallet but guess what? he did not write out the wallet recovery phrase, the wallet consist of 640$ worth of bitcoin, he was broken, felt pity for him, how can someone not take recovery seed serious? that's what came out of my mouth, Really I felt pity for him because he went through a lot to gather that bitcoin, people need to start taking wallet keys or phrases very serious, newbies should please understand that without these keys you lose your money, time and energy
Sad to hear that this has happened to him. Unfortunately, there is nothing he can do now. Once its lost, its lost forever. There is no way (or unless you can brute force your wallets private key which is also almost impossible or the cost is going to be far far far greater than what you have lost) you can recover those coins anymore. Too bad he didn't make any backup of his wallets. Hope he learnt a lesson from this! At least he is going to be really careful form now on wards when it comes to cryptocurrencies and wallets. 
it seems like almost all beginners not keep private key wallet because they think it is only for verification of making a wallet ,so if there are beginners there, must be someone who tells usefulness of private key before private key lost
Yesterday someone I knew uninstalled his wallet from his android phone mistakenly and he told me to help him recover his wallet but guess what? he did not write out the wallet recovery phrase, the wallet consist of 640$ worth of bitcoin, he was broken, felt pity for him, how can someone not take recovery seed serious? that's what came out of my mouth, Really I felt pity for him because he went through a lot to gather that bitcoin, people need to start taking wallet keys or phrases very serious, newbies should please understand that without these keys you lose your money, time and energy
Who knows the pains he will be passing through now, not to talk of now the market is booming. What I deduced is that, he failed to take the necessary steps required before holding any coin and these steps comes in the form of knowing everything about wallets, how they work, how to save the private keys etc. He failed to know these and it costs him alot, so therefore as his friend, encourage him by teaching him everything that you believe will help him prevent such mistakes from happening again. I wish him the best.
When I lost a wallet pass phrase a year ago, I see to it to keep all of my pass phrase under one notebook. Of course I keep it safe as no one knows that I am into cryptocurrency. it's just too bad that as far as I know there is no way to retrieve an account when you don't have the pass phrase.
You are doing well its good to keep your key safe and not to share with anyone as there are so many clever hackers and they can take all your income and your saving away. It's much better to keep it in your account and your PC so no one would be able to know it and take your profit. The private key is something really important that we should not share it with people. This is nothing but a careless move, its all your friend's fault for not taking the recovery phrases very serious, private keys and phrases are meant to be safe guided like you always do with bank accounts and ATM cards
The question us: how many cryptocurrency enthusiasts actually have a serious minded towards ensuring the protection of their personal data online? Many investors are just after the profit taking and not the security involved. We should learn to follow cryptocurrency fundamentals to avert issues of this nature. Until we all come to the true knowledge of be serious in keeping out password, passphrase and other confidential data we aren't ready to be part of the system.
$650 is quite a lot, to get that much money you need to work 1-2 months working in an office (offline). there is no way to get those assets back, except with recovery seeds. Yaps, crypto is indeed very risky, in addition to high volatility prices, the risk of loss also often occurs as events described by the OP. it's better if you are a beginner to learn it before holding / saving a few coins. Hot wallet in my opinion is suitable for beginners (Blockchain, coinbase, or exchange of good reputation). don't forget to give special security, like 2Fa code or multiple security. wallet cold is also vulnerable if you are not careful, such as a virus attack on the computer or the recovery key is not stored safely.
This is nothing but a careless move, its all your friend's fault for not taking the recovery phrases very serious, private keys and phrases are meant to be safe guided like you always do with bank accounts and ATM cards
Very careless, not backing up recovery keys as a wallet is padlocked but does not have a key. my advice if you are still a beginner in crypto world and do not understand the security of assets in the wallet, which is to store it exchanged with a good reputation, in my opinion better. there is no way to return the asset, unless you can still access the recovery key. that's crypto, it's very safe, you yourself can't access your own assets if you lose your private key.
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For the problem of backing up a recovery key I usually write it on a stainless metal and place it in the safe.
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For the problem of backing up a recovery key I usually write it on a stainless metal and place it in the safe.
Yesterday someone I knew uninstalled his wallet from his android phone mistakenly and he told me to help him recover his wallet but guess what? he did not write out the wallet recovery phrase, the wallet consist of 640$ worth of bitcoin, he was broken, felt pity for him, how can someone not take recovery seed serious? that's what came out of my mouth, Really I felt pity for him because he went through a lot to gather that bitcoin, people need to start taking wallet keys or phrases very serious, newbies should please understand that without these keys you lose your money, time and energy
If its an android app its ok as long as you didn't uninstall the application you use or never reformat your phone it will not gone as long its continue running. But for real security of your asset you need to save all important things because its your money involve.
Yesterday someone I knew uninstalled his wallet from his android phone mistakenly and he told me to help him recover his wallet but guess what? he did not write out the wallet recovery phrase, the wallet consist of 640$ worth of bitcoin, he was broken, felt pity for him, how can someone not take recovery seed serious? that's what came out of my mouth, Really I felt pity for him because he went through a lot to gather that bitcoin, people need to start taking wallet keys or phrases very serious, newbies should please understand that without these keys you lose your money, time and energy
Some people really do that, but i think there are a lot of reason why they did it. And mostly because they don't know if they must save seed or maybe pass phrase or privae key maybe, because sometimes people already know is make account is only from email and pass, or maybe do something like me when i not back up my wallet because i only use it temporary, and i lose my dogecoin. 
Yesterday someone I knew uninstalled his wallet from his android phone mistakenly and he told me to help him recover his wallet but guess what? he did not write out the wallet recovery phrase, the wallet consist of 640$ worth of bitcoin, he was broken, felt pity for him, how can someone not take recovery seed serious? that's what came out of my mouth, Really I felt pity for him because he went through a lot to gather that bitcoin, people need to start taking wallet keys or phrases very serious, newbies should please understand that without these keys you lose your money, time and energy
This is a Terrible mistake anyone should not make. When creating a wallet the first that is demanded of you is to backup your recovery phrases. This is better to be backed immediately to avoid unforeseen situations such as this. So sorry for him as he learnt in a hard way. And this question keeps ringing in my heart. Can a wallet whose recovery phrase is lost ever be recovered?
If you take infinite amount of time - all BTC will be lost at some point in time. That is a fact of life.
If you look at BTC that has been dormant for many years, most of those funds are probably lost and will never be used ever.
If you look at BTC that has been dormant for many years, most of those funds are probably lost and will never be used ever.
The problem is not that people do not write down their recovery phrases and private keys, the problem is that people store them in the wrong places, and also that people are quite irresponsible about storing this kind of information. As practice shows, a person begins to take such things seriously only after he loses access to one of his wallets. The more valuable this wallet will be, the higher the probability that an individual will learn a lesson.
They should be making use of online wallets like Coinbase, Blockchain, Xapo and the rest of them, these are the wallets that newbies should be using. With these wallets they will just have to create their wallet and login anytime with their email and even when they forget their passwords they will still be able to recover it with the same email they have created it with.
But, if it’s offline wallets that requires recovery phrase you’re likely to lose your coins. As a newbie I used Xapo and I made the mistake of losing my password several times and Xapo saved my life. I only started to use wallets like BitPay and Exodus after I have got much experience.
But, if it’s offline wallets that requires recovery phrase you’re likely to lose your coins. As a newbie I used Xapo and I made the mistake of losing my password several times and Xapo saved my life. I only started to use wallets like BitPay and Exodus after I have got much experience.
So you would rather trust someone else rather than yourself when it comes about coins? Xapo and Coinbase both are a wallet platform that doesn't gives you any private key or master private key against the wallet. So what if someone hacks that wallet platform and steals all the bitcoins leaving owner unable to pay. What's the best - trust yourself or trust a third party blindly with your coins?
Yesterday someone I knew uninstalled his wallet from his android phone mistakenly and he told me to help him recover his wallet but guess what? he did not write out the wallet recovery phrase, the wallet consist of 640$ worth of bitcoin, he was broken, felt pity for him, how can someone not take recovery seed serious? that's what came out of my mouth, Really I felt pity for him because he went through a lot to gather that bitcoin, people need to start taking wallet keys or phrases very serious, newbies should please understand that without these keys you lose your money, time and energy
Someone you knew? Why didn’t you teach them about the recovery phrase? From the way you explained this I guess he was still a newbie and maybe didn’t know about the recovery phrase. This is the reason newbies shouldn’t make use of wallets that are made for people that are already experienced enough. They should be making use of online wallets like Coinbase, Blockchain, Xapo and the rest of them, these are the wallets that newbies should be using. With these wallets they will just have to create their wallet and login anytime with their email and even when they forget their passwords they will still be able to recover it with the same email they have created it with.But, if it’s offline wallets that requires recovery phrase you’re likely to lose your coins. As a newbie I used Xapo and I made the mistake of losing my password several times and Xapo saved my life. I only started to use wallets like BitPay and Exodus after I have got much experience.
Yesterday someone I knew uninstalled his wallet from his android phone mistakenly and he told me to help him recover his wallet but guess what? he did not write out the wallet recovery phrase, the wallet consist of 640$ worth of bitcoin, he was broken, felt pity for him, how can someone not take recovery seed serious? that's what came out of my mouth, Really I felt pity for him because he went through a lot to gather that bitcoin, people need to start taking wallet keys or phrases very serious, newbies should please understand that without these keys you lose your money, time and energy
Wallets you own it and no one actually knows those keys,if you failed to note down the recovery seeds then you will lose your wallet as well.Most wallets will not allow anyone to create a wallet without entering their recovery seeds for the first time so how it is possible for him to never write down those keys? If its an android app its ok as long as you didn't uninstall the application you use or never reformat your phone it will not gone as long its continue running.
Are you reading carefully? His friend already uninstalled the app by mistake. I dont think if he reinstalled it back the same account or wallet address will be pop up on his application. Of course this will reset, and provide again another new wallet with new back up seed.
Forgetting to save the pass phrase is a sin on cryptocurrency if your using a wallet app.
Sorry OP but there is no other way for your friend to get his bitcoin and that's how cryptocurrency is such a transparent one. Newbie must learn especially this is a basic rule on creating wallets.
Yesterday someone I knew uninstalled his wallet from his android phone mistakenly and he told me to help him recover his wallet but guess what? he did not write out the wallet recovery phrase, the wallet consist of 640$ worth of bitcoin, he was broken, felt pity for him, how can someone not take recovery seed serious? that's what came out of my mouth, Really I felt pity for him because he went through a lot to gather that bitcoin, people need to start taking wallet keys or phrases very serious, newbies should please understand that without these keys you lose your money, time and energy
Why wouldn't they save the recovery phrase?I think your friend is lazy enough to skip the most important thing in keeping your wallet secure.
This should be a lesson for him/her they know that it is about money so why don't they take it seriously?
If your friend is a new in crypto then he/she should have paid more attention on securing their investment.
wordsheet, consisting of 12 words that are very important for recovery. because of that many members here suggest to keep it well because it will definitely be very useful someday. because remembering 12 random words when making a wallet, in my opinion it's difficult than memorizing a formula. it will definitely be a very difficult situation.
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