Do you guys think that there will be a new technology to recover lost of Bitcoin - page 3.

taufik123

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Quote from: passwordnow on March 08, 2023, 08:43:26 AM

They're talking about quantum computers that might break the network security of blockchains and PoS in nature. We don't know what's gotta be the future but all of those are the same as the crypto market, they're all speculative. Been hearing that a lot that there will be a technology that shall replace blockchain and kick out bitcoin on its ranking and that's the same with the topic about there could be a possible technology that might recover those lost bitcoins forever. It's just being talked about but never seen it happen in actuality.

A Quantum computer also won't be able to recover bitcoins, even if it looks like a supercomputer.
But bitcoin security has been designed to address the threats that Quantum Computers might pose.

Bitcoin uses Post-Quantum Encryption Technologies, such as Lattice-based cryptography or Hash-based cryptography.
Bitcoin also uses the ECDSA cryptographic security with a 256-bit size.
https://en.wikipedia.org/wiki/Lattice-based_cryptography
https://en.wikipedia.org/wiki/Hash-based_cryptography

Speculation that Bitcoin can be recovered when keys are lost is just nonsense.
There will be no such technology today or for the next few decades.
If that happens the bitcoin system will collapse.

and the replacement for blockchain is just bullshit as well, Blockchain is still the best ledger technology and many use blockchain as an Example of another ledger development.

DeathAngel

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No I don’t think there will be a tech to recover lost bitcoin. If the blockchain was ever able to be rewinded so people could claim lost access to coins then the price would go to $0. There would be scam attempts left, right & center.

Bitcoin is an irreversible ledger designed to be the most secure method of transferring money. There are no refunds & no chargebacks. Look after the access to your coins, don’t expect anybody else to.

BlackHatCoiner

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Your question is rather if there will be a way to spend bitcoin you don't have. The popular notion is that lots of lost bitcoins will be recovered if their public keys are known, because it is believed that the public key to private key reversal will someday be possible, within then next 20-30 years. This reversal will only happen to lost coins, because long before it becomes possible, we will have moved our coins to cryptographically stronger scripts. However, lost coins (with public keys known) will most likely not return to their real owners.

Other lost coins, which only have a RIPEMD-160 hash revealed, will take much longer to move (if ever), and isn't even a concern.

so98nn

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That’s funny actually. We first ask for the unbreakable technology and then when it becomes really full proof we then start asking whether this technology can be broken somehow. Tongue

I think bitcoin is all fine as it is and the intention was to have most secured, irreversible technology which will help us have our coin ownership and do the transaction likewise.

I just hope there comes no such technology which can break the Ice here. Anyways that’s gonna be dream of a hacker but would love to see what others has to say about it.

passwordnow

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They're talking about quantum computers that might break the network security of blockchains and PoS in nature. We don't know what's gotta be the future but all of those are the same as the crypto market, they're all speculative. Been hearing that a lot that there will be a technology that shall replace blockchain and kick out bitcoin on its ranking and that's the same with the topic about there could be a possible technology that might recover those lost bitcoins forever. It's just being talked about but never seen it happen in actuality.

Bananington

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Quote from: cassandra robert on March 08, 2023, 04:39:57 AM

A lot of people posting that they successfully recover their funds for along time but how about those who have lost their Bitcoin? Is it possible in the future that there will be a technology that is specialized in recovering lost in just a matter of minutes or an hour?

You have to be specific with the type of "lost bitcoin". You may either loose access to your bitcoins or you loose your bitcoins to theft. For both situations I do not think that you should be in expectation that a technology will come soon to be able to recover access or recover bitcoins when locked out or lost to hackers respectively. As someone who has bitcoins, you focus should be how to not just to buy bitcoins, but also how to keep your seed phrase safe and your bitcoins away from hackers. Preventing something from happening is always easier than finding solution to it when it happens.

Cantsay

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Quote from: noorman0 on March 08, 2023, 07:11:31 AM

On the other hand, if the privkey is really gone, you can actually find some answers on this forum on topical questions like how to generate a privkey with a previously funded address or find a privkey from an address.

From what I have learned so far and also experienced I don't think it's possible to recover your private key from public address, once you lose access to your private key or secret phrases then it's time you bid your coins bye-bye I don't think they're ways to recover it. If eventually you meet someone claiming that they have devices or means to help you recover your wallet with the use of private key or your secret phrases just have it in the back of your mind that they want to scam you or do something malicious to you or to your system and we do have alot of them out there.

Coin_trader

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Quote from: cassandra robert on March 08, 2023, 04:39:57 AM

A lot of people posting that they successfully recover their funds for along time but how about those who have lost their Bitcoin? Is it possible in the future that there will be a technology that is specialized in recovering lost in just a matter of minutes or an hour? But on the other side Bitcoin holder are in trouble too as their funds might also be vulnerable and be compromise.
Please more answer to do this please.

I believe Bitcoin will no longer exist if this technology will be available in the future because this only means that they can access any Bitcoin wallet using the technology they are using. We know how innovation develops fast and those impossible things before is now possible. I will never remove the chance for having this kind of technology in the future because I believe humanity usually pursue to discover the current impossible things.

But again. Bitcoin in general will be in danger if this technology invented because all assets is not safe anymore.

CryptSafe

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OP I doubt if there could ever be such technology and if there is any possibility of that happening, then it would be resisted and the process truncated because no one member of the blockchain community would allow that to happen. If it should be allowed it means that blockchain is no longer safe to store assets and as far as I am concerned, this is the beauty of blockchain which no one can ever comprehend. Only you should have access or know the private key to your wallet and if it happens otherwise that their is a breach or loss of private keys, your assets are all gone. Now tell me if it happens that a private key predictor is developed in the sense that any wallet been imported it opens up immediately do you think your wallet and assets would be safe?

noorman0

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[Nope]No hype delivers more than hope

Some cases of lost access can actually be resolved without "future" technology if the private key is not actually physically or visually lost. It can happen due to memory factors such as you forget where to store the privkey, or accidental factors such as your mother throwing away the old book where the privkey was written. It's just that bitcoin can be recovered by anyone who finds the privkey.

On the other hand, if the privkey is really gone, you can actually find some answers on this forum on topical questions like how to generate a privkey with a previously funded address or find a privkey from an address.

Z-tight

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Quote from: cassandra robert on March 08, 2023, 04:39:57 AM

A lot of people posting that they successfully recover their funds for along time

BTC recovery services are scams, there is no service that can help you recover your stolen money. BTC transactions are irreversible, and if the hacker or thief is smart, they would not send the funds to a centralized exchange that is linked to them, but even if your stolen money is sent to a KYC exchange, you still need the help of the police and government to recover it, which is so hard to obtain.

Quote from: cassandra robert on March 08, 2023, 04:39:57 AM

but how about those who have lost their Bitcoin? Is it possible in the future that there will be a technology that is specialized in recovering lost in just a matter of minutes or an hour? But on the other side Bitcoin holder are in trouble too as their funds might also be vulnerable and be compromise.

If there is a technology that can guess correctly the keys to lost BTC, then the technology would also be able to steal people's BTC even when they have the keys to the funds, how then would the technology benefit bitcoiners in the network.

KiaKia

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You asked this class of question because you have exceptionally low knowledge about how Bitcoin works, there is never going to be a way to recover any lost Bitcoin. If your Bitcoin got stolen through phishing, the person on the other side will need to be controlled to send back your Bitcoin, tell me how technology is going to make this happen unless you have some mind-controlling Voodoo power or you are a sorcerer.

If you mistakenly lost or forget your recovery seed, it is going to remain lost forever, I read a story about a millionaire who wants to get back his lost Bitcoin key with everything he has, this person hired professionals, till this day he failed to recover the wallet keys, I think it has something to do with his hard disk storage getting spoilt or damage. They failed to recover the Bitcoin.

naira

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Quote from: cassandra robert on March 08, 2023, 04:39:57 AM

A lot of people posting that they successfully recover their funds for along time but how about those who have lost their Bitcoin? Is it possible in the future that there will be a technology that is specialized in recovering lost in just a matter of minutes or an hour? But on the other side Bitcoin holder are in trouble too as their funds might also be vulnerable and be compromise.
Please more answer to do this please.

So far what still makes sense is that without a personal phrase or key then nothing can be done but to let the amount of bitcoin be buried. But talking about the future with any technological sophistication can happen, it's just that it will be opposed by many people even though the purpose is to help but will have an impact on the stability of Bitcoin that has been easily lost by certain parties for negative purposes.

Say someone has found the tool and can restore the missing bitcoin, instead of publishing it, so I am sure that people will save it for themselves.

MaterialMouse69

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Quote from: cassandra robert on March 08, 2023, 04:39:57 AM

A lot of people posting that they successfully recover their funds for along time but how about those who have lost their Bitcoin? Is it possible in the future that there will be a technology that is specialized in recovering lost in just a matter of minutes or an hour? But on the other side Bitcoin holder are in trouble too as their funds might also be vulnerable and be compromise.
Please more answer to do this please.

Those people who claimed that they retrieved their lost btc most likely to be a scammers, because once you lost your seed or private key then it would be impossible to retrieve your btc. But for sure there's tech to save your private keys and seed but for restoring it would be a miracle to save what's lost. It's like you've revive the dead. Don't click any link or follow any tutorials on how to recover your lost of btc. Grin

Asuspawer09

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Quote from: cassandra robert on March 08, 2023, 04:39:57 AM

A lot of people posting that they successfully recover their funds for along time but how about those who have lost their Bitcoin? Is it possible in the future that there will be a technology that is specialized in recovering lost in just a matter of minutes or an hour? But on the other side Bitcoin holder are in trouble too as their funds might also be vulnerable and be compromise.
Please more answer to do this please.

All of the lost bitcoin is lost forever without the private key it is impossible to recover your bitcoin, Usually most of the people who offer ways to recover your bitcoin was a scammer, we all know that all you need is the private key to recover it. Except if you're talking about custodial wallets since you could just contact the support to recover your account etc.

I guess it is possible since it's technology, we never know how technology could develop in the future and at some point, they might crack the bitcoin code or any wallets possible. But at the same time, security could keep up with the technology. If somehow they find a way to it, it might be the end of bitcoin since it already crack and there's always a possibility of accessing your bitcoin and taking your funds at that point since they can access a wallet without even the need of the seed phrase or private key or just calculating the possible combination of your privatekey.

Nwada001

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If there would have been any technology regarding the recovery of lost Bitcoin, we could have been worried about an attempt at such technology being under development.

Everyone prays for the best, but if that happens, then such technology can also be used to steal users' funds without notice. If it can access a lost wallet and recover the lost phrase, the same method can be used to access a user's wallet and retrieve the user's phrase and make off with the user's fund without the users notice.

Just like the way the blockchain technology is built, everyone is responsible for their own security, and that's the best.

A lost Bitcoin, I believe, is lost forever unless the real owner can be able to remember where he/she misplaced the security to the wallet.

Rikafip

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No one knows what future brings, but that seems unlikely to me because if you can easily recover your lost bitcoin without seed/private key, what would stop you from stealing someone else's bitcoin?

franky1

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alot of posts advertising recovery systems are more then likely scammers

any protocol that allows movement of funds without a signature by using the correct keypairs. is a system that is broke.

the whole point and security of bitcoin is funds only move due to a valid signature

Charles-Tim

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If it is about bitcoin, any lost bitcoin is just a gain for all other bitcoin holders as the supply in circulation reduces. No way to recover lost bitcoin unless you have found its seed phrase or private key, else it is lost forever.

Quote from: cassandra robert on March 08, 2023, 04:39:57 AM

Is it possible in the future that there will be a technology that is specialized in recovering lost in just a matter of minutes or an hour?

It is what the community do not support and they will do anything possible to make sure this kind of thing is not possible. If you do not have the key, it is not your coin.

cassandra robert

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A lot of people posting that they successfully recover their funds for along time but how about those who have lost their Bitcoin? Is it possible in the future that there will be a technology that is specialized in recovering lost in just a matter of minutes or an hour? But on the other side Bitcoin holder are in trouble too as their funds might also be vulnerable and be compromise.
Please more answer to do this please.

Topic: Do you guys think that there will be a new technology to recover lost of Bitcoin - page 3. (Read 415 times)