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If only he was using a trustless cryptocurrency rather than a "trusted" custodial entity, he would never have had that problem.

• tim333 8y ago
  My friend lost trustless cryptocurrency that would be worth well over $400k today by forgetting about it and formatting his hard drive.
  • sparkie 8y ago
    He clearly didn't value it highly enough at the time. You're implying that if he didn't accidentally lose his private keys, he would've had the nerve to hodl it till now and wouldn't have cashed out when it was valued less on the USD markets. Some banks will shut your account after a long enough period of activity. There are statutes of limitations which may prevent you from claiming any assets you had lodged in the bank if you suddenly remembered you had the bank account N years later. There are pros and cons to both Bitcoin and the traditional banking system. With Bitcoin, you can at least chose for yourself, whereas the decisions are made for you when you use custodians.
    • tim333 8y ago
      He minded it on his mac back in 2010 or so when it wasn't really worth anything much and then forgot it was there when the machine malfunctioned. Easy come easy go I guess and it wasn't worth much at the time but would be now.