Why do people forget their passwords? - page 4.

NeuroticFish

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Quote from: Rruchi man on March 15, 2021, 08:44:54 AM

From identifying the causes, i believe we will be able to get solutions.

I'll make a list, not only for passwords, instead for losing access to various means of storing the coins.

1. Carelessness, especially from the days the coins worth much less.
2. Overly complicated storing methods.
3. Over-confidence on their capabilities (eg. thinking that they can keep in mind a complicated password for 10s of years).
4. Accidents (from spilling coffee onto the paper wallet to car crash or stroke and brain injury).
5. Storing the wallets on exclusive IT related supports (HDD/USB/whatever) and those getting destroyed or declared obsolete and thrown away.
6. Storing the wallet info in only one place.
7. Lack of understanding crypto, computers, web/services.

The order is.. what came into my mind.
I don't see a proper solution for them. Using/keeping only seed should be basically it, but if one keeps it "in clear", then he won't forget it, but others may understand what it is and steal the coins.

semobo

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Human brains can store more data than any computers but it is not possible to retrieve the exact data when we wanted after a long time like reading data on a hard drive. So if you are about to set password for something then use an offline password manager or just store it in a paper then keep it in a safe box.

OgNasty

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I don't think there's anything wrong with "forgetting" your password. I don't even know my bitcointalk password at the moment. I personally think if you don't know your password, then it would be difficult to use it unsafely. Wink

I would be worried if my memory was the only thing keeping my logins safe. I've learned over many years that it is best to have a solid means of recovery. Being reliant on any one thing, memory, piece of paper, electronic file; will likely end up causing you problems.

So while you ask why people forget their passwords, I wonder why they ever knew them at all...

Clairvoyance

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Quote from: Rruchi man on March 15, 2021, 08:44:54 AM

Let us enlightenment ourselves, What could be some causes of this?

Most of their bitcoins and other altcoins was definitely hold on a cold wallet way back when it was first issued or on it's early stages. It was never their priority since it may be just given or just a whimsical approach on a new mode of payment. However, since the hype and current spotlight on cryptocurrency, most of this holders are trying to remember their own account and their wallets. More often than not, they are unable to recover due to lack of backup for password and unable to trace where did they place those wallet.

Here are some examples:

https://news.bitcoin.com/man-accidentally-threw-away-hard-drive-with-7500-bitcoins-million-landfill/
https://www.reddit.com/r/Bitcoin/comments/130047/i_have_384_bitcoins_in_a_wallet_which_i_lost_the/
https://www.nytimes.com/2021/01/12/technology/bitcoin-passwords-wallets-fortunes.html

Clear causes:

1. It was never a priority at first.
2. The lack of backup and alternative.
3. Oversight.

Poker Player

legendary

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I don't think it is so common nowadays to lose their seed, although it is inevitable that little by little some of them will continue to be lost. But I think it was more typical years ago, when Bitcoin was just starting and people didn't know if it was going to become a thing yet. Back then people were more careless. Today, however, even if you have only $1k, you try to have the seeds well guarded, not just because of the current value, but because in the future that $1k may be worth $10k or $50k. That wasn't so clear in 2010 for example.

Rruchi man

legendary

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Recently, i have been coming across more stories of person's that have forgotten their passwords or keys, and because of that, have lost their investments (btc and other coins) in the process.

Let us enlightenment ourselves, What could be some causes of this?
Could it be stress, elaborate passwords or something else (please state what you think is a cause).

From identifying the causes, i believe we will be able to get solutions.

Topic: Why do people forget their passwords? - page 4. (Read 1260 times)