Topic: Something you don't have to forget - page 2. (Read 679 times)

Most of us know less and more about Bitcoin. Nowadays everyone is attracted to Bitcoin due to the influence that Bitcoin has created among the people all over the world. But many of us don't pay attention in the beginning about what steps should be taken to hold Bitcoin. We hold it after purchase. Here a holder must acquire a good understanding of their wallet to hold their bitcoins. Generally, if we create an account on a site, there is a way to recover it if we forget the password but if we forget the password of Bitcoin wallet, there is no possibility to get on that particular wallet. Of course, before buying Bitcoin or any asset, we should check whether we have access to our wallet or not. Otherwise the heard-earned money will have no value even if it is kept for a long time.

Frankly speaking when Bitcoin was on its few months or year where its price is really that not that expensive or something significant then it wont be shocking that people or adopters on that time wont be paying up attention about those keys or whatsoever correlated to it but as we do know that each person is different on where there are some who dont care and there are some who do really care. Look at the difference
to those people who are cherishing their profits now than into those people who had forgotten their keys? It would really be a lifetime kind of regret because you will be picturing out on how rich you are now
if you had been able to held with those coins or simply having the access into that wallet.

It will really be just that too normal that you will be that saving up those privatekeys because if you dont pay up attention into this one then you are susceptible into the risk on losing those coins.
Now that we are dealing with different coins in the market and having those thoughts on being the next big thing on upcoming bull run or years to come then it will really be always
important on keeping everything or having that security of those keys. We wont know on when they would boom up.

Yes, you are right, we have to properly maintain wallet access when we store these assets because we will not be able to access them again after we lose access to our wallet, it is important for those of us who store a number of Bitcoins to be able to maintain wallet access and if necessary we record it and store it properly. safe and when we need it we can still access the wallet we have.

Crypto awareness already reached a nice peak, and I believe it will spread more and people won't dare to store their Bitcoin or altcoin in an insecure place, or device anymore. Unfortunately, people use insecure crypto exchanges where they do not have any control over their coins, and they deny the possibility of hacks and other problems.

Back to the point, mining altcoins is not profitable anymore except for some pump-and-dump coins that arrive with some huge expensive ASIC miners on the market and then slowly disappear. So, if someone buys alts, store it in a safe wallet. That's it.

People who lose their bitcoin wallet password or seed phrase even though there are a lot of bitcoins in it, can actually be said to be very trivial at first, but there are quite a lot of stories that tell about their triviality towards bitcoin before bitcoin had a price this high. but now there are several services that claim to be able to restore lost bitcoin wallets (this service), I'm not so sure about the services they offer, because there is the term 'not your key, not your bitcoin'. if we don't take good care of our wallets then who else will! save the password and seed phrase from the bitcoin wallet you have, don't let the bitcoin you hold just disappear because of your carelessness.

None thought of the market value of bitcoin growing this high. If they had known it earlier, surely they couldn't have lost their password. It all happened through an incident, when Laszlo Hanyecz bought pizza with bitcoin it started to get value and its usage started. Till then it was kind of token used for gambling and distributed as giveaway. People just received and they never considered it big. Most of the holders just bought or received without knowing what is bitcoin. Slowly the price increase made them look for it, but losing the key makes the fund doesn't belong to them.

The first thing a bitcoiner should know is that if they lose access to their wallet, they will never get back into it again. So, the best thing to do is make the security of their wallet a priority, like some people who said that in the past, they bought some Bitcoin and forgot to withdraw it from the exchange where they bought it. Now that the price of bitcoin has skyrocketed, they are looking for the exchange where they left their bitcoin. These are lessons to learn from, and also remember the warning: not your key, not your coin. It's a rule that every Bitcoiner must not forget and also let others who are not aware of it become aware.

There are several reasons while some early holders of Bitcoin might not have them or access to them now. Some never saw Bitcoin as anything of value then because it was practically worthless. Some also held but were not careful enough to protect their Bitcoin, hence they lost them.

It is not actually easy believing something like Bitcoin at a time when no one actually know what the future holds for it. It take huge courage and foresight to believe in Bitcoin and still hold till now.

As for those mining other coins, it will be easier for them to HD and save them properly because they have a reference which is Bitcoin.

Well we can't blame others who didn't take care of their seed phrases back then, most of us didn't know how world would revolve after all. I mean there are people thought that the end of the world was in 2012  I hate to say that we are surprised by what the crypto is now, we saw the process that lead it here, the right word is we are skeptical to it in numerous times, we are affected by FUD by many influential people especially the media. Don't get back to the past, we cannot rewrite it thought history shall be kept. Now let's talk how this be more adoptable in more industry, widely used than ever.

I who came earlier than most people who were still outside would learn from their experiences that came earlier than me about what made me not regret.
Everyone will take good care if they know something they have have value. Various ways will be done for the safety of something that is owned. An item that is worthless and valuable will not be treated like a valuable item. Someone leaves an item abandoned without treatment. Bitcoin, who is now the best coin that is valuable, maybe people at that time did not care and did not want to care how his fate was in the future.

From the owner of Bitcoin who used to not care whether or not it is important or not can make a valuable lesson for those of us who come late from them to maintain well Seed Phrase or Private Key.
Seed Phrase and Private Key as the most important thing for Bitcoin access will not be obtained if we keep Bitcoin not in the wallet.

When we add value to something we don't forget it easily like the way we can forget other things we have.
The is profits in investing I'm Bitcoin or the entire cryptocurrency market. We all have to put a level of importance to our cryptocurrency investment for us to make more profits from it. What we value is what we are going to keep investing and giving our time.
Those that are great profits from the market put lots of focus on it especially on the tokens they are holding keeping watch in them.

You know, if we look at Bitcoin today, we will literally think that it is not worth it to buy because it is very expensive and it is too volatile, so the risk here is high. This is if you do not know and understand Bitcoin. But if you have knowledge about this, there is no room in your mind for the previous ones if they are mentioned.

And if there is someone else who forgets the password, seed, and private key, that is because of the negligence called for, so it is important to keep them, because even if a few years have passed, the chances are really high that the price will be high. Bitcoin's value as long as we don't give up on what we believe will be the way to the future we want.

More precisely, it is security to store the Private key or Seed Phrase properly.
Instead of just remembering the password, it's better to write it down on a stainless steel plate and store it somewhere out of reach by others.
The use of hardware wallets is also a good recommendation.

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All of these events become part of Bitcoin's history that will continue to stick and never be forgotten.
Seeing how history happened makes us more motivated.

Even dark histories such as Ponzi investments, the biggest scams or even like the major event of the Mt.Gox Exchange Hack which made the Bitcoin trend even more devastated at that time and now FTX as an Exchange managed by fraudsters and made many people experience losses.
There are more Bitcoin stories and more positive stories related to Bitcoin as well.

Keeping your password safe and intact is like keeping your physical wallet safe each time because that is same as how we are making our life that safe.
and also bitcoin is already in great value  because that is what you already said in the top part of your post .
you are just reminding us what we already knew but thanks for that still.
actually those who are surprised are the people who did not trust bitcoin at all because if you have bought this from then surely you are expecting this to reach a high value like how much it is now.

That's right, there are still many people who use bitcoin as a short-term investment, or even just for temporary pleasure and never thought that bitcoin could be this big and expensive.

I know bitcoin starting in 2017, and began to be interested in exploring further in this forum. but it never occurred to me to silence bitcoin until now. when I got bitcoin I immediately sold it to meet my daily needs. that's why I failed to make bitcoin a future asset.
if in the past I was not too loyal to sell my bitcoin, surely now the price is very expensive and can even become a rich man in my area.

after all this time learning and getting to know bitcoin, I have begun to realize to set aside some bitcoin for the future. and will share seed bitcoin with my child. because I realize that I will not live forever and hope that my child can continue the bitcoin assets that I install little by little for his future.

At that time Laszlo Hanyecz never knew Bitcoin would be this popular, if he had known, he would not have exchanged his 10,000 Bitcoin for 2 large pizzas, he also advertised this on this forum, you can see the topic here Pizza for bitcoins?. Many stories end tragically due to non-technical factors such as losing or forgetting the private key, accidentally throwing away the hard disk containing Bitcoin as experienced by James Howell and other things that cause regret when they find out that the price of Bitcoin is getting higher. Those who sold early because they didn't know Bitcoin would be trading at the high prices it is today will regret their decision, but this is all a result of their ignorance of Bitcoin's potential.

Now that Bitcoin is starting to be accepted by all levels of society in all parts of the world, past failures or mistakes experienced by other people or personal experiences must be used as lessons for the future. Regret is of course the result of not collecting Bitcoin when it was still trading at a cheap price, but that is all in the past, now let's look at a brighter future by collecting Bitcoin little by little to achieve success in the future.

Yes, it is a valuable experience that should be remembered by anyone who plans to store their assets in a wallet. it is their responsibility to store everything safely.
no one predicted that Bitcoin would grow so extraordinary. but we can see the progress of growth that occurs in Bitcoin. and we must be able to choose assets to save and those that are hopeless.
such as surprises from old wallet owners who have transacted on certain exchanges and qualify for an airdrop. such an event might not happen in a short time. but we see that kind of thing happening.

Always keep your wallet and keys safe, no one knows when we need them again in the future.

It's true that the rise of Bitcoin caught many by surprise. Security and remembering passwords are crucial in the world of cryptocurrency and keeping them safe ensures you have access to potential future value. The crypto landscape is dynamic and many people will be open on what crypto could offer over time. It surprises us always.

The security of most wallets are the greatest bane as it is the greatest boon for many people, with the security they applied, you are secured that no one is going to be able to brute force your wallet and that your bitcoin is safe stewing away in the wallet but the problem is that as years go by of hodling, you as a human being are going to be experiencing a lot of different and new things and those experiences will be memories and with those getting in your head some of these people eventually need space for those new memories although it is not really removed entirely, it is muddled with your other memories and we know that when we use passwords that frequently, we will not have a problem remembering but in the case of bitcoin wallets that you do not usually use to log daily, you eventually forget the password unless you have been using the same password for all your accounts then you do not have a problem. A piece of paper can help you remember but at that time when bitcoin was still not worth a lot, people did not really mind taking notes of their passwords.

Because of the number of total supply of bitcoin limited to 21M, not everyone will have at least 10BTC in their wallet if they’d all found interest in the coin and wanted to keep some for themselves even when the price was worth nothing at that time. Now that the price have increasingly became more valuable, people still don’t have the access to own more of it couple with the fact of high cost of it and loss of seed phrase of some wallets due to carelessness or death, so this scenario would have reduced the total supply of bitcoin and we won’t have each individual having at least 10BTC when all the 21M BTC have been mined.


You can’t be so sure of that and you don’t have to give people the confidence that they should invest in whatever coin they can and keep it because it’ll become great value in the future. Only bitcoin can be ascertained to become more valuable in the future, some altcoins will too but you can’t tell any of them that can and cannot become more valuable in the future. In order not to live a life of suspense that will lead to disappointment of not achieving your desired goals, it is better to stick to only bitcoin and make the maximum and best possible profit out of it in the future which you’re sure of. It is better to invest your money in certainty than to invest in speculation.