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I held a bit of BTC back when it was worth a lot less. I mined some with GPU and then later heated my house with some BTC miners (that nearly paid for themselve
by SwellJoe 9y ago
I held a bit of BTC back when it was worth a lot less. I mined some with GPU and then later heated my house with some BTC miners (that nearly paid for themselves with the proceeds before I retired them because the power and cooling needed made them uneconomical).
My coins were spread across a couple of USB keys and a hard disk, all encrypted with a passphrase I thought I knew but that didn't work last time I tried to decrypt the hard drive. The USB keys went missing. I think my girlfriend's cats stole them. The coins were worth a few hundred bucks when I lost access to them. They'd be worth...well, a lot more, today. The hard disk is maybe still functional and somewhere in my storage unit, though I probably still don't know the passphrase. The USB keys are probably gone forever, as I've moved house twice since I saw them last.
It's pretty frustrating, but I probably would have sold the coins when BTC broke $1000, anyway. So, I would have made a few thousand bucks, tops. Honestly, while I still hold a little bit of BTC, I don't really believe in it. It is an environmental disaster, the fees have gone through the roof. It is difficult to secure; everyone says "Keep it in an off-line wallet." But, I lost all of my off-line wallets. The only BTC I still have from back then is in Coinbase. Keeping a physical item really safe is costly or just annoying. You need a safety deposit box, or a firesafe, to be really sure of it. Since I live in an RV, there's not really any way for me to be confident any coins of significant value in a physical wallet would be safe. I wouldn't keep a physical wallet with me any more than I would keep significant cash under my mattress.
- fourstar 9y agoIf anything, I think what you wrote was a strong endorsement for Coinbase and how secure it's been for an online crypto exchange. https://www.coinbase.com/security?locale=en-US https://www.coinbase.com/security?locale=en-US