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Millionaires locked out of their Bitcoin fortunes due to lost passwords


https://www.afinalwarning.com/489114.html
(Natural News)
A San Francisco-based programmer who owns $220 million worth of bitcoins is now unable to access his money because he lost his password. While this doesn’t seem like that big a story, especially with how easy it can be to recover passwords with most services these days, Bitcoin’s decentralized nature complicates things for Stefan Thomas.
Unlike other, more centralized services, Bitcoin does not store the passwords of users such as Thoman in a central server, as part of this, it does it allow them to reset it should the user forget it. As such, Thomas now only has two guesses left before he’s locked out of his IronKey – a small hard drive that continues the digital certificates that will let him access his digital wallet that holes 7,002 bitcoin. ....

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Bitcoin: Is It Fool's Gold Or Time To Buy? - Technology


To print this article, all you need is to be registered or login on Mondaq.com.
Article by Graeme Lennox.
As the value of the world s most famous digital currency
soars amid economic uncertainty, Graeme Lennox asks if now is a
good time to invest in cryptocurrencies. Featuring head of our
cryptocurrency and blockchain group, Andrew Tzialli.
It has been called digital gold and has been most
synonymous with drug dealing, ransomware and inept criminals, as
well as innocent investors losing fortunes in lost hard drives.
Whether bitcoin is the best get-rich-quick scheme in town or the
next financial bubble waiting to burst, is usually just a matter of ....

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Man has just two password guesses left to access his billion Bitcoin account


THE STANDARD
MONEY & CAREERS
By Mirror | January 25th 2021
A computer programmer who lost his Bitcoin password has just two guesses left before he is locked out of his account forever.
Stefan Thomas has lost the slip of paper with the information to unlock his 7,002 digital coins, which last week were worth a reported £180million (Sh26.9 billion).
The tech worker told the New York Times he cannot remember the crucial code to a small hard drive, known as an IronKey, to unlock his account and cash in.
German-born Mr Thomas, who now lives in San Francisco, said if he doesn t get the password right within the next two tries, he will lose the fortune forever. ....

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