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Uhm... if the owner of some bitcoin loses (eg, disk crash and no backup) his secret keys, aren't his bitcoin lost for any practical meaning of the word?
by danmaz74 14y ago
Uhm... if the owner of some bitcoin loses (eg, disk crash and no backup) his secret keys, aren't his bitcoin lost for any practical meaning of the word?
- cs702 14y agoYes, of course -- very much like losing a physical wallet with cash inside it or a bag with gold coins. Lost forever. Just like paper currency. Just like gold. Unlike paper currency or gold, however, bitcoins can be encrypted and backed up.