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> If you don't have the keys, it's not your coins For the vast majority of people, if they do have the keys, their personal security is poor enough that someon

> If you don't have the keys, it's not your coins For the vast majority of people, if they do have the keys, their personal security is poor enough that someone will get a copy.

tim333 6y ago
Or more commonly lose them. I've got a friend who mined bitcoin back at the start and then the repair shop formatted the hard disk. Would probably be worth a few bob now.
- deleted 6y ago
  [deleted]
- hanniabu 6y ago
  Not the same. Back in the day it was treated as a novelty. If your friend knew it'd have value then he'd have protected it better.
  - piva00 6y ago
    Agree, I had 12 BTC mined back in 2010-2011, I just did it because I was being part of other distributed computing networks like SETI@home and Folding@Home. I mined for a while, accumulated them on a wallet on my hard drive and completely forgot about it until the boom in 2014. By then I had already erased 2 generations of hard drives from that machine, it was my NAS for a while, etc. I don't feel bad about it at all, I never imagined or considered it would become what it is and it was just a toy app I ran for a while after SETI@home and Folding@Home got me intrigued with the concept of massively distributed computing.
    - tim333 6y ago
      Yeah true in my friends case though people losing keys continues such as the recent story "Man Has Two Login Attempts Left to Access $220 Million in Bitcoin Before It's All Lost" https://www.newsweek.com/man-has-two-login-attempts-left-access-220-million-bitcoin-before-its-all-lost-1560984 https://www.newsweek.com/man-has-two-login-attempts-left-acc... (see also Silicon Valley https://youtu.be/aKXqZh43OH8?t=11 https://youtu.be/aKXqZh43OH8?t=11)
  - frombody 6y ago
    I lost many bitcoin early and predicted them to be valuable. The issue with someone security conscious like me is that, although you can make many backups, you have to secure each of those backups. The more copies you have the more opportunities for someone to attack, so every backup needs to be fully secure. Eventually I did such a good job of securing them that I locked myself out.

> If you don't have the keys, it's not your coins For the vast majority of people, if they do have the keys, their personal security is poor enough that someone will get a copy.

tim333 6y ago

Or more commonly lose them. I've got a friend who mined bitcoin back at the start and then the repair shop formatted the hard disk. Would probably be worth a few bob now.

deleted 6y ago
[deleted]
hanniabu 6y ago
Not the same. Back in the day it was treated as a novelty. If your friend knew it'd have value then he'd have protected it better.
- piva00 6y ago
  Agree, I had 12 BTC mined back in 2010-2011, I just did it because I was being part of other distributed computing networks like SETI@home and Folding@Home. I mined for a while, accumulated them on a wallet on my hard drive and completely forgot about it until the boom in 2014. By then I had already erased 2 generations of hard drives from that machine, it was my NAS for a while, etc. I don't feel bad about it at all, I never imagined or considered it would become what it is and it was just a toy app I ran for a while after SETI@home and Folding@Home got me intrigued with the concept of massively distributed computing.
  - tim333 6y ago
    Yeah true in my friends case though people losing keys continues such as the recent story "Man Has Two Login Attempts Left to Access $220 Million in Bitcoin Before It's All Lost" https://www.newsweek.com/man-has-two-login-attempts-left-access-220-million-bitcoin-before-its-all-lost-1560984 https://www.newsweek.com/man-has-two-login-attempts-left-acc... (see also Silicon Valley https://youtu.be/aKXqZh43OH8?t=11 https://youtu.be/aKXqZh43OH8?t=11)
- frombody 6y ago
  I lost many bitcoin early and predicted them to be valuable. The issue with someone security conscious like me is that, although you can make many backups, you have to secure each of those backups. The more copies you have the more opportunities for someone to attack, so every backup needs to be fully secure. Eventually I did such a good job of securing them that I locked myself out.