Lost Password Could Cost Crypto Coin Owner A Couple Hundred Million

[jdsky]

Looking at the bright side there's a good chance his locked up bitcoin will only be worth $110 million by next week or so  anyway.......  Good luck with the last two remaining tries he has to get the password right.  It's unbelievable that 20% or nearly $140 Billion is locked up due to lost passwords.

 

Stefan Thomas, a German-born programmer living in San Francisco, has two guesses left to figure out a password that is worth, as of this week, about $220 million.

The password will let him unlock a small hard drive, known as an IronKey, which contains the private keys to a digital wallet that holds 7,002 Bitcoin. While the price of Bitcoin dropped sharply on Monday, it is still up more than 50 percent from just a month ago, when it passed its previous all-time high of around $20,000.

The problem is that Mr. Thomas years ago lost the paper where he wrote down the password for his IronKey, which gives users 10 guesses before it seizes up and encrypts its contents forever. He has since tried eight of his most commonly used password formulations — to no avail.

“I would just lay in bed and think about it,” Mr. Thomas said. “Then I would go to the computer with some new strategy, and it wouldn’t work, and I would be desperate again.”

Edited January 13, 2021 by jdsky

[steve from amherst]

poor bastard

[Mainecat]

Bitcoin is nothing so his loss was just another ponzi. 

Anyone want to buy a time share?

You bought bitcoin?.. lmao

can I see your bitcoin?

Why not?

Its virtual? 

So it’s non existent?

well yeah.

no question your a dumbass.