Topic: How I waste bitcoin (Read 422 times)
Almost maximum investors have faced this problem. That's almost everyone's history when it comes to learning about Bitcoin. When someone tells us about Bitcoin and when we are interested in Bitcoin we try to do everything through him. Like how to make a wallet, how to deposit the token of the exchanger and how to buy-sell everything.This happens to many investors in the first time and people have to correct their mistakes. Therefore, when using Bitcoin, wallets should be kept secure and wallet seeds should not be shared with anyone.
Life itself is a test you don't have to lose hope of losing your Bitcoin because it happens to many investors and they didn't give up if not they won't be where they are today we lost we go again we keep it up that who is called an investor so don't worry keep it up and don't get discouraged and about the wallet you can't retrieve it unless you have the phone and it hasn't been deleted you might then recover it
OP's story is unbelievable for me. He/she told us that lost SEED phrase for the wallet created in early 2011 but, AFAIK, the concept of SEED was adopted by wallets far more later, after BIP39 standard has appeared. So, either OP misleads us or he/she mixes SEED phrase with something else, with password for instance.
Anyway, I'm bind to ask if there was any less well-known wallet that might have implemented SEED phrase feature in 2011?
Anyway, I'm bind to ask if there was any less well-known wallet that might have implemented SEED phrase feature in 2011?
Early 2011 most friends of mine are into cryptosystem and I barely know what it is about, I only hear the name bitcoin and one day a friend of mine said, I should provide N100k to buy bitcoin and I was like what if my money lost and he gave me assurance; no lost as long your wallet is intact and after much pressure I gave him the money, open a wallet for me and hand over everything but I was care free not minding that's a great investment then, one day I lost my device and that's how I lost the seed phase and the wallet. Am imagining if I could have recover my wallet today, I will be a big boy with fat wallet. Do you think another person have access to it?
Though the story mostly looks like a made-up story like a lot of people already said, I would say that one can literally not be carefree after investing an amount that makes a difference in their life, and back in 2011, the value of money was way higher than it is right now, so you are pretending like you were either too rich at that time or you didn't really invest that much money in Bitcoin and then didn't make backups of your wallet, seed phrase, and private keys.There is definitely no chance for you to recover your wallet if you don't have anything that takes you back to your wallet, you don't even have the public address, I assume, if you had really bought Bitcoins, they are now lost and there is no one who has access to them as they are encrypted.
Early 2011 most friends of mine are into cryptosystem and I barely know what it is about, I only hear the name bitcoin and one day a friend of mine said, I should provide N100k to buy bitcoin and I was like what if my money lost and he gave me assurance; no lost as long your wallet is intact and after much pressure I gave him the money, open a wallet for me and hand over everything but I was care free not minding that's a great investment then, one day I lost my device and that's how I lost the seed phase and the wallet. Am imagining if I could have recover my wallet today, I will be a big boy with fat wallet. Do you think another person have access to it?
This is part of learning process and it can be corrected by now since we learn a lot from the experiences we encounter from the pass and make sure that you grow a lot from those incident. Who knows? Maybe the guy you trusted with still have your keys so maybe try to check on blockchain explorer if your balance still in your wallet since when you check it and balance is gone then you already know who is the possible person who take it. Try to remember if you also save your keys on other area like offline since its really a big waste if your balance has totally gone and you can't recover your funds.
Early 2011 most friends of mine are into cryptosystem and I barely know what it is about, I only hear the name bitcoin and one day a friend of mine said, I should provide N100k to buy bitcoin and I was like what if my money lost and he gave me assurance; no lost as long your wallet is intact and after much pressure I gave him the money, open a wallet for me and hand over everything but I was care free not minding that's a great investment then, one day I lost my device and that's how I lost the seed phase and the wallet. Am imagining if I could have recover my wallet today, I will be a big boy with fat wallet. Do you think another person have access to it?
First and foremost, your Bitcoin is lost forever- that's if you ever had any as at the time you mentioned....and did you say 100k naira? Secondly, your story looks untrue as Nigerians barely had contact with Bitcoin operations, talk more of HODLing. Thirdly, you misplaced your device and you lost your seed phrase?? May I Aks what device are you actually referring to?... about the case of "being a big boy with a fat wallet" - you never can tell. Alot of things happen in the long run; just like the way you lost 'em seed phrase, anything HAPPENS... So that wouldn't be guaranteed too.
Again, This story is not untrue.
Sandra 🧑🦰
I am a Nigerian and I know how Nigerians behave. And as at 2011, the value of N100k was very high that it could buy you a plot of land in some mini cities. There is no how you will invest N100k by then as a Nigerian and became care free about it.
By that time you mentioned, it is only a few people that could invest more than N10k in an online business they consider a ponzi scheme. I am sorry, I do not believe your story.
By that time you mentioned, it is only a few people that could invest more than N10k in an online business they consider a ponzi scheme. I am sorry, I do not believe your story.
A cheap attempt at merit fishing. The OP often passes off his fantasies as reality.
OP, get busy, or start writing fantastic books. For some, this forum really helps to solve their financial situation, at least a little. But such stupid attacks in the form of stupid topics can completely close the way for you here. Someone will leave a tag saying that you are a liar, and someone will simply start to ignore you.
Be serious, OP; don't take people for fools.
Such amount, 100k.
Like what they say, what you don't know is greater than you no matter how little it seem. A little knowledge of making sure on how to backup your private keys be it written down on a paper sheet keeping it safe somewhere private would have helped you today in regaining your bitcoins after these years.
When next to get such opportunity always ask questions, deep questions about what your money is going into for. A simple question about the importance of the use of the seed phrase given to you when you created your wallet would have sav d you from your loss. As long as nobody knows about your wallet password and seed phrase no one can have access to it, not even you op.
Like what they say, what you don't know is greater than you no matter how little it seem. A little knowledge of making sure on how to backup your private keys be it written down on a paper sheet keeping it safe somewhere private would have helped you today in regaining your bitcoins after these years.
When next to get such opportunity always ask questions, deep questions about what your money is going into for. A simple question about the importance of the use of the seed phrase given to you when you created your wallet would have sav d you from your loss. As long as nobody knows about your wallet password and seed phrase no one can have access to it, not even you op.
Can you show us the address you used to top up the Bitcoin you bought with the amount of N100k.?
I am very curious about the contents in it. How could you be so careless as to lose access to open the wallet, logically N100k was huge at that time. Anyone will take good care of the seed phase especially if there are assets of high value in it. I don't know if your story is true or not, at least the people who read this thread will be more careful about saving the seed phase so that big losses don't happen like you experienced.
I am very curious about the contents in it. How could you be so careless as to lose access to open the wallet, logically N100k was huge at that time. Anyone will take good care of the seed phase especially if there are assets of high value in it. I don't know if your story is true or not, at least the people who read this thread will be more careful about saving the seed phase so that big losses don't happen like you experienced.
I don't think another person would have access to your seed phrase if the device holding it gets damaged and you cannot recover any data from it. If you had saved your seed phrase on a piece of paper at that time you would have been able to recover and use your money. However, it seems your mistake was not giving enough importance to the security of your bitcoin at that time which is kinda sad to be honest.
I'm just curious how much bitcoin did you have in your wallet back then? Do you have any public addresses as proof? I would recommend using a hardware wallet or even an air-gapped device from now on and make sure to store your backup seed phrase in a safe place.
I'm just curious how much bitcoin did you have in your wallet back then? Do you have any public addresses as proof? I would recommend using a hardware wallet or even an air-gapped device from now on and make sure to store your backup seed phrase in a safe place.
I am a Nigerian and I know how Nigerians behave. And as at 2011, the value of N100k was very high that it could buy you a plot of land in some mini cities. There is no how you will invest N100k by then as a Nigerian and became care free about it.
By that time you mentioned, it is only a few people that could invest more than N10k in an online business they consider a ponzi scheme. I am sorry, I do not believe your story.
By that time you mentioned, it is only a few people that could invest more than N10k in an online business they consider a ponzi scheme. I am sorry, I do not believe your story.
A cheap attempt at merit fishing. The OP often passes off his fantasies as reality.
OP, get busy, or start writing fantastic books. For some, this forum really helps to solve their financial situation, at least a little. But such stupid attacks in the form of stupid topics can completely close the way for you here. Someone will leave a tag saying that you are a liar, and someone will simply start to ignore you.
Be serious, OP; don't take people for fools.
Do you mean N100k equals 10k$? I'm not from Nigeria, and I don't know how big or small the amount is, but if what you explained is true. Yes, I don't want to offend, but I will call him a liar, and this story is fictitious. Although at the time, I didn't know if anyone had invested such a large amount in bitcoin, the fact that someone who knows nothing about bitcoin could risk investing such a large amount is fabricated. Moreover, how could he lose such a large amount of money so easily and without any safe storage method?
I decided to burst the OP because their lie was so dumb and the choice of date mentioned in OP made it very obvious that the whole story was purely fabricated. Next time he should consider to say the truth because there’s no award for who made the most shity lying post.[/s]
Early 2011 most friends of mine are into cryptosystem and I barely know what it is about, I only hear the name bitcoin and one day a friend of mine said, I should provide N100k to buy bitcoin and I was like what if my money lost and he gave me assurance; no lost as long your wallet is intact and after much pressure I gave him the money, open a wallet for me and hand over everything but I was care free not minding that's a great investment then, one day I lost my device and that's how I lost the seed phase and the wallet. Am imagining if I could have recover my wallet today, I will be a big boy with fat wallet. Do you think another person have access to it?
How much was Bitcoin when you bought it? How many fraction of Bitcoin did you buy then? When you not advised to key your seed phrase? What year was that? These are question I think you need to answer before you claim that you invested in Bitcoin and lose the seed phrase. Anybody can come here and write amusing stories about how they were once a Bitcoin investors and something happened that made them to lose the funds.
If you were asked to invest in cryptocurrency when you have no idea about the decision you wee taking then, why don't you ask questions or use search engines to find out what steps you need to take to keep you safe. Because of many stories we had been seeing from random people, this making it look like one has to before a pro before investing in Bitcoin especially to the newbies.
Early 2011 most friends of mine are into cryptosystem and I barely know what it is about, I only hear the name bitcoin and one day a friend of mine said, I should provide N100k to buy bitcoin and I was like what if my money lost and he gave me assurance; no lost as long your wallet is intact and after much pressure I gave him the money, open a wallet for me and hand over everything but I was care free not minding that's a great investment then, one day I lost my device and that's how I lost the seed phase and the wallet. Am imagining if I could have recover my wallet today, I will be a big boy with fat wallet. Do you think another person have access to it?
Lots of people have made similar mistake in the past, they bought bitcoin and they didn't properly secure their bitcoin, some of them didn't properly secure their private key after buying bitcoin, most people didn't know that bitcoin is going to be massive, some people invested in bitcoin after making little profit they decided to sell it off, if lots of people that invested in bitcoin in the past knows that bitcoin will get to this price, most of them will have still be holding bitcoin, and they will have properly secure their private key.If someone have access to the phone and the person fix the phone, if the person knows about bitcoin, then maybe your bitcoin will have been sold, but if nobody have access to it, then your bitcoin will remain in your wallet.
Never, ever allow anyone to create a crypto wallet for you
Quite rightly one should never create a wallet by proxy, it is risky and stupid, but OP never created such a wallet, i wouldn't be surprised if they have never created a crypto wallet before or ever written down a seed phrase. It is as clear as daylight that this story is bullshit and it wouldn't be deleted as spam only because OP somehow manages to stay on-topic (which is quite easy to do). All of these fabricated stories are so unnecessary and isn't the right way for someone to learn about Bitcoin or to earn merits. OP, please lock this thread. 
...one day I lost my device and that's how I lost the seed phase and the wallet. Am imagining if I could have recover my wallet today, I will be a big boy with fat wallet. Do you think another person have access to it?
If you don't have a seed phrase or private key, then you can't restore or access the wallet, and neither can anyone else. especially at that time in 2011, maybe the people who found it didn't care about the contents, they just sold it right away. And maybe if what happens next is that the device has been restarted to the initial factory settings and eliminated all applications. Try it, if you still have the wallet address, check whether the transfer of Bitcoin assets from the wallet.
Well firstly I think you should try to convert N100k into a more familiar currency like the US dollar, I think the N in the 100k stands for naira. This would be about $130 with the current market rate, well since this is about Bitcoin in the year 2011 I think you would still be good for yourself.
Well I think you friend did not do a complete job in telling you about Bitcoin, I have always advice that when introducing Bitcoin to newbies always try to tell them more about Bitcoin, how to protect themselves, the advantages and disadvantages of Bitcoin.
Well I think you friend did not do a complete job in telling you about Bitcoin, I have always advice that when introducing Bitcoin to newbies always try to tell them more about Bitcoin, how to protect themselves, the advantages and disadvantages of Bitcoin.
The Op is no doubt a liar and I kind of wonder why he came up with this cook and bull story.
I think that its pretty obvious he made that bullshit story for the sole purpose of merit fishing. He though that members will feel sorry for him losing hundreds of bitcoins and that they will sen few merits his way to ease that pain.Luckily, members got used to recognize bs stories in Beginners & Help section so such obvious merit farmers are not as successful as they used to be.
The OP sounds like a liar, or he needs people's attention, because if the OP actually has that amount he mentioned in the year 2011 in Nigeria, he will never go towards Bitcoin investment because that is a very large amount of money at the time, and $1 was around 165Naira, so the 100k naira he claimed will be around $600, which can buy at least 127-128 or even up to 300BTC depending on the price, because Bitcoin peaked $30 in early 2011, declined to $2, and finished the year at $4.7.
The Op is no doubt a liar and I kind of wonder why he came up with this cook and bull story. As at that time, Bitcoin had not gained popularity and I doubt if there's anyone from this part of the world that would put N100k in a nascent technology like Bitcoin, when the money is more than enough to get you a plot of land at a choice location. 
Well, bitcoin at that time does not make valuable to other people not until you will see the current price today we regret right now that we sell in the lowest to the middle range of the bitcoin at that time, how much bitcoin did you accumulate? another thing is upon creation of the wallet there's a private keys provided to you that you need to keep, we have not your keys, not your coin, if you don't have the keys it's not in you anymore. Did you have an address left in you so you can check? It seems like they encourage you with the bitcoin but do not gives you the essentials to learn with the bitcoin.
Jump to: