Topic: Why it is important to lose Bitcoin to an incorrect wallet address - page 2. (Read 2002 times)
October 13, 2019, 04:29:04 AM
It is difficult when you lose bitcoin your hard -earned money it’s kind of distress since we all know it is irreversible. I just experienced this once, I accidentally send btc to an incorrect wallet address good thing their is a pop up window to double check the wallet address. There’s a mistake we commit but after that, it gives us a lesson that every time sending out you have carefully and check the address to avoid losing btc.
October 13, 2019, 03:33:01 AM
ha ha. in fact that knowledge can't guarantee anything)
sometimes people do weirdest things
even if they loose money already because of inattention, they may loose it again. unteachable.
sometimes people do weirdest things
even if they loose money already because of inattention, they may loose it again. unteachable. 
October 13, 2019, 03:26:47 AM
Well on my own point of view I think there is no need for you to lose bitcoin just to learn because bitcoin is really expensive the reason why you must be careful especially when you send it to a wallet address. You must be doubled check it first before you send it because there is no refund or you can no longer get back once you mistakenly sent it to a wrong wallet address, in short, Bitcoin transactions are irreversible after all confirmations are done.
October 12, 2019, 02:44:49 PM
I don’t know how people can be so careless in sending money to wrong address when they have made everything easy for one to be able to copy the right address, it is only when an hacking tools has been installed on the computer that we can say maybe the address has been changed, but to send to a wrong address is a mistake that should not have happened. All the time that I have been sending and receiving bitcoin, I don't think there has ever been any mistake as I am always careful.
Before I send the fund, I check the address over again to be sure that the address is correct and that I am sending it to the real address that the money is meant to go to. Like you said anyway, experience is a teacher and I am sure this mistake will teach a lot of people who are careless to stop being careless.
Before I send the fund, I check the address over again to be sure that the address is correct and that I am sending it to the real address that the money is meant to go to. Like you said anyway, experience is a teacher and I am sure this mistake will teach a lot of people who are careless to stop being careless.
October 12, 2019, 01:38:49 PM
You can't send bitcoin by mistake to an erc20 wallet what are you talking about? You can accidentally send to a bitcoin cash wallet though. You must check 5x before sending and then once more just before you hit send.
Have f2a protection too as well. Anything that slows your progress down is a good thing since it gives you more time to think.
Have f2a protection too as well. Anything that slows your progress down is a good thing since it gives you more time to think.
October 12, 2019, 12:45:37 PM
well, i guess, we cant send btc to erc 20 address/eth address, the system will say incorrect address receiment.
i never lose btc from wrong sending transaction.
and also , of course there are no recovery menu from loosing like that.
since BTC its a peer to peer , basicaly people must understand first what they do before take on action.
no middleman, so there are no option, if u wrong send or lost because hacking or whatever its it.
well, life is unfair sometimes.
even being hacked is more unfair for me. like binance recently.
and well, they just accepted it.
i never lose btc from wrong sending transaction.
and also , of course there are no recovery menu from loosing like that.
since BTC its a peer to peer , basicaly people must understand first what they do before take on action.
no middleman, so there are no option, if u wrong send or lost because hacking or whatever its it.
It is really inconsiderate bro, how about those people who lose bitcoin due to scam? this is the downside of bitcoin being irreversible no matter what is the reason for the lost of bitcoin.
Losing bitcoin due to sending on the wrong address is understandable and can't be refunded but those who got scammed it's pretty unfair.
Losing bitcoin due to sending on the wrong address is understandable and can't be refunded but those who got scammed it's pretty unfair.
well, life is unfair sometimes.
even being hacked is more unfair for me. like binance recently.
and well, they just accepted it.
October 12, 2019, 08:56:57 AM
Losing your coins when you accidentally sent it to a wrong address is the best thing that could ruin your day, extremely if it is a huge amount of bitcoin, moreover, with this kind of failure, we became more careful and double checking or even triple checking everything before we made a transaction. I've had this story where I was using my private keys opening myetherwallet and accidentally sent it to someone in facebook, good thing I know him personally. It might be a little off topic but I think it is somewhat related even just a little.
Disclaimer: The title is very misleading
Disclaimer: The title is very misleading
October 12, 2019, 08:44:08 AM
We must be responsible for every transaction that we're doing in crypto especially if it involves our earnings. We must double-check every ERC before sending our funds because one wrong mistake could result in regrets and losses. We must be careful and learn from the experiences of those who are confessing here about losing their funds due to Erc mistakes.
October 12, 2019, 07:36:01 AM
But it's more fulfilling if we haven't experienced losing bitcoin to an incorrent wallet address right? Rather than experiencing it. But of course a lot of us have already experienced that. It's really frustrating and disappointing to our part if we lost btc especially when it's a big amount.
But it's not as important as it is to lose bitcoin. If something is so important and valuable, we should always double check the address for us not to make mistakes. We've worked hard for our bitcoin and then we'll just lose it that fast. It's a life lesson to always be careful in sending bitcoin.
But it's not as important as it is to lose bitcoin. If something is so important and valuable, we should always double check the address for us not to make mistakes. We've worked hard for our bitcoin and then we'll just lose it that fast. It's a life lesson to always be careful in sending bitcoin.
October 12, 2019, 07:30:33 AM
Correct wallet for sending bitcoin and altcoin is most important think when you make transaction to sent your bitcoin or altcoin to other wallet, when you use incorrect wallet your bitcoin or altcoin can't get back except with using PayPal because you can take back your money fi wrong email, but with cryptocurrency you have lost your bitcoin if using wrong address just one letter.
October 12, 2019, 07:10:22 AM
I have never lost BTC by sending to an incorrect wallet address in my whole entire life. Bitcoin is too much precious for everyone if anyone doesn't care about his BTC then it can happen. Bitcoin is my life so I will take care of it properly
October 12, 2019, 06:45:38 AM
We all commit mistakes in our life and some can be painful like losing a bitcoin just because of an incoorect wallet address and the transaction is ireversable and it cannot be traced.But we learn from our mistakes and be careful that you check the address that whether it is valid or not twice so as be to be sure.Dont be in hurry and stay calm while you transfer btc and all other altcoins.It is good for market to create scarcity of btc to increase the prices but it will not be beneficial for you.
October 12, 2019, 06:26:09 AM
I believe many of us has lost the precious Bitcoin at some point.
A lot of this loses could be traced back to wrong wallet addresses on the part of the sender (more reason you should double check the address before sending).
At some point you mistakingly sent Bitcoin to an ERC-20 wallet or sent it to an incorrect wallet.
Either ways, the coin becomes lost.
In times like this thoughts like this set in, "why is there no provision for recovering lost Bitcoin?
My answer to this might sound inconsiderate, but...
It is a good thing you lost it, and it's a good thing it cannot be recovered.
Maybe you will be more careful next time
When you consider something as valuable, you ought to treat it with great value and care, so before sending out your "valuable Bitcoin", if it's really important to you, ensure that you double check the address to avoid loss.
If you have lost Bitcoin the first time due to the aforementioned wallet issue, then you ain't supposed to lose another one, as you must have learnt to be more careful now.
It's not possible to execute a transaction sending coins from bitcoin address to an ERC-20 wallet's address. The bitcoin protocol would not recognize that address due to its completely different format.A lot of this loses could be traced back to wrong wallet addresses on the part of the sender (more reason you should double check the address before sending).
At some point you mistakingly sent Bitcoin to an ERC-20 wallet or sent it to an incorrect wallet.
Either ways, the coin becomes lost.
In times like this thoughts like this set in, "why is there no provision for recovering lost Bitcoin?
My answer to this might sound inconsiderate, but...
It is a good thing you lost it, and it's a good thing it cannot be recovered.
Maybe you will be more careful next time
When you consider something as valuable, you ought to treat it with great value and care, so before sending out your "valuable Bitcoin", if it's really important to you, ensure that you double check the address to avoid loss.
If you have lost Bitcoin the first time due to the aforementioned wallet issue, then you ain't supposed to lose another one, as you must have learnt to be more careful now.
The immutable nature of blockchain prevents from unspending the transaction which is a huge plus point, we have seen many examples of Paypal frauds occur due to the unspending feature.
In no way I see it as a good thing, losing your entire savings is a serious situation to be in. Though it contributes to the overall scarcity of movable bitcoins, but this can't justify the previous statement.
October 12, 2019, 05:45:24 AM
It is a good thing you lost it, and it's a good thing it cannot be recovered.
Maybe you will be more careful next time
It is really inconsiderate bro, how about those people who lose bitcoin due to scam? this is the downside of bitcoin being irreversible no matter what is the reason for the lost of bitcoin. Maybe you will be more careful next time
Losing bitcoin due to sending on the wrong address is understandable and can't be refunded but those who got scammed it's pretty unfair.
October 12, 2019, 05:37:57 AM
It’s not only the experience gained by the user, but also to the fact that whatever is lost cannot be recovered, and if the address is no longer used or owned by anyone, it adds up to the lost coins which therefore increases the scarcity of bitcoin which, in theory makes it more valuable. And just like what you said, this forces people to have this sense of carefulness whenever they deal with crypto and bitcoin so as not to lose funds that are important to them.
October 12, 2019, 05:35:34 AM
This is a bad mindset and I don't think everyone needs to experience tragedy for them to be able to grow and become smarter, smart people will be able to avoid this and it's just pointless.
Sending BTC to a different address would be extremely hard, Ethereum, Dash, Litecoin addresses are all extremely different from each other and it's very hard to get the ones mixed up. I don't know anyone who's done that, and most people who get close get an error message saying it's not a real address and avoid tragedy.
Sending BTC to a different address would be extremely hard, Ethereum, Dash, Litecoin addresses are all extremely different from each other and it's very hard to get the ones mixed up. I don't know anyone who's done that, and most people who get close get an error message saying it's not a real address and avoid tragedy.
October 12, 2019, 05:31:00 AM
Experience is a great lesson for everyone but I beg to disagree that it is important for us to lose bitcoin by accidentally sending it to wrong address just for us to be careful with addresses.
In the first place, we should always be careful with the address to avoid losing bitcoin. Prevention is always better. We don't have to experience it first before putting extra care. We've already seen a lot of people experiencing it. It can be a lesson for us already so that those case won't happen to us.
In the first place, we should always be careful with the address to avoid losing bitcoin. Prevention is always better. We don't have to experience it first before putting extra care. We've already seen a lot of people experiencing it. It can be a lesson for us already so that those case won't happen to us.
October 12, 2019, 03:19:21 AM
Never happened to me. I don't know honestly how it has ever happened to people, I admit I don't send much or many times, and I only really use Bitcoin. Other alts and all that are just exchanges and like pooya says above, if you put in the wrong format anyway, they will tell you so and the wallet won't even allow you to complete the transaction.
October 12, 2019, 03:14:45 AM
I believe many of us has lost the precious Bitcoin at some point.
A lot of this loses could be traced back to wrong wallet addresses on the part of the sender (more reason you should double check the address before sending).
At some point you mistakingly sent Bitcoin to an ERC-20 wallet or sent it to an incorrect wallet.
Either ways, the coin becomes lost.
In times like this thoughts like this set in, "why is there no provision for recovering lost Bitcoin?
My answer to this might sound inconsiderate, but...
It is a good thing you lost it, and it's a good thing it cannot be recovered.
Maybe you will be more careful next time
When you consider something as valuable, you ought to treat it with great value and care, so before sending out your "valuable Bitcoin", if it's really important to you, ensure that you double check the address to avoid loss.
If you have lost Bitcoin the first time due to the aforementioned wallet issue, then you ain't supposed to lose another one, as you must have learnt to be more careful now.
From the statement that cryptocurrency is decentralized and lost as a case of wrong address can not be restored. That should make you even more observant in dealing with crypto transaction. There is no third party or money controller like a bank, which can recover your money when you are mistaken in sending money, Crypto is decentralized. so brace yourself if you experience it and let it go. You have to double check and be careful when making a transaction, incorect wallet addres will be a loss that you have to suffer and you cant do anything to recover it. A lot of this loses could be traced back to wrong wallet addresses on the part of the sender (more reason you should double check the address before sending).
At some point you mistakingly sent Bitcoin to an ERC-20 wallet or sent it to an incorrect wallet.
Either ways, the coin becomes lost.
In times like this thoughts like this set in, "why is there no provision for recovering lost Bitcoin?
My answer to this might sound inconsiderate, but...
It is a good thing you lost it, and it's a good thing it cannot be recovered.
Maybe you will be more careful next time
When you consider something as valuable, you ought to treat it with great value and care, so before sending out your "valuable Bitcoin", if it's really important to you, ensure that you double check the address to avoid loss.
If you have lost Bitcoin the first time due to the aforementioned wallet issue, then you ain't supposed to lose another one, as you must have learnt to be more careful now.
October 12, 2019, 12:00:30 AM
We should educate people engaging into bitcoin about the blockchain technology that it uses. People need to be careful in sending funds through cryptocurrencies. One way to minimize the risk is to send huge funds by splitting it into smaller volumes so once you reliazed there's something wrong in the transaction details, you can stop at any point and lessen the damage dealt to your savings. But you should not always rely on that technique, you must always triple check before doing transactions in the crypto-space.
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