Hello friends. Has anyone ever lost bitcoin? I am curious to listen to your stories. My purspose is to educate ourselves of possible scams, or rookie mistakes that we may do, that can lead to our BTC being stolen or lost.
Edit: Back in Feb 2020, I gave my seed phrase to someone on twitter. The convinced me the seed phrase was equal to my address and that they needed it to send me bitcoin. Don't ask me why I was so stupid... I lost approx. 1M sats and I had to start accumulating again. I bought a Trezor and I started reading...
Bitcoin doubler for me when I was still inexperienced, way back in 2017. I thought that I can double it right away, the scam was good, they give me my first payout and so I reinvest it again, roll my bitcoin on that site. Then suddenly it goes offline and when I search about it, maybe have been bitching that they have lost big amount. Luckily for me, it's just small as I just want to test that scheme or shall I shall now "scam".
As for the seed phrase or private key, no I haven't go to that extend to give someone that information because right away I knew that it is very important to us. It's good that we have learn this kind of lessons when we are a newbie, it's a wake up call to us to really be vigilant and learn safety practices before hand as not to fall for this trick again.
This is an investment case, and when it comes to investing, there are different ways to lose bitcoins. I also joined many bitcoin doubler sites when I was new to the market and can say at the time, there were countless such sites, doubling bitcoin weekly, daily, and even hourly...I lost quite a bit at that point, but it was a pleasant experience I don't regret. I only lose when investing with greed and lack of knowledge, I have never lost or hacked in my bitcoin storage.
I ve never heard of this before... the bitcoin doublers.
As a newbie, mistakes are inevitable, I don't lose bitcoins by giving my private keys to someone, but I also lose a lot of bitcoins because of investing in scam projects like HYIP or Ponzi...The important thing is that we have learned from the experience and not let it happen again in the future.
I have never had this kind of temptation to buy something for quick money. However, I understand what you say and it is unfortunately very common.
I have never come across a bitcoin scam. Ever since I started investing in Bitcoin, the number of scammers in cryptocurrency has been very low.But nowadays the number of scammers is increasing day by day. But I lost some bitcoins due to my own mistakes. Back in 2017 when the price of bitcoin was $12k I held some bitcoins, but later I lost some bitcoins due to a transaction to a wrong address.But the most important thing in cryptocurrency is to secure full access to your seed phrase and wallet.These accesses should never be shared with anyone, as sharing them is tantamount to giving away your bitcoins to that person. And while adding different tokens to the wallet should be well justified because there are many scam coins in the market.
IMO, all the wallets should replace "seed phrase" with "secret phrase, don't share". That way newbies won't confuse it with a normal bitcoin address.
yeap. And there is also a misconception between passhphrase and passwords. The passphrase in BIP39 is extending your seed phrase and therefore in order to recover the wallet you need 12 + passphrase and you can recover it in any device that utilizes BIP39. If you lose your passphrase everything is lost. Some wallets also allow you to add a password which is tied to the specific device that you use and you can simply recover the wallet using your 12 words. If you forget your password you can just factory reset the device and import the 12 words later.
