Home Bitcoin News Bitcoin Scam San Francisco man who can’t remember Bitcoin password says he’s ‘made peace’ with $220 million loss

San Francisco man who can’t remember Bitcoin password says he’s ‘made peace’ with $220 million loss

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SAN FRANCISCO (KGO) — The San Francisco man who cannot keep in mind the password to unlock his $220 million Bitcoin fortune says he way back “made peace” with the truth he might by no means acquire entry.

Stefan Thomas went viral this week after a New York Times profile revealed to the world his unsettling dilemma: The password to unlock his Bitcoin fortune is locked in a tough drive that provides customers 10 makes an attempt earlier than wiping clear. Thomas has simply two extra tries.

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In an interview with ABC7 Information on Wednesday, Thomas mentioned it is now been 9 years since he first realized he was locked out of his account, which suggests he is had ample time to course of it.

“There have been kind of a pair weeks the place I used to be simply determined, I haven’t got some other phrase to explain it,” Thomas mentioned, recalling how he felt when he first realized he could not discover his password in 2012. “You kind of query your personal self-worth. What sort of particular person loses one thing that vital?”

However “time heals all wounds,” he added, and through the years he mentioned he has “made peace” along with his loss.

“It was really a very large milestone in my life the place, like, I kind of realized how I used to be going to outline my self-worth going ahead,” he mentioned. “It wasn’t going to be about how a lot cash I’ve in my checking account.”

That is all nice and altruistic, however shedding $220 million?! That is certain to emphasize out even essentially the most real of individuals.

VIDEO: Bitcoin scam: ‘I’ll tell your wife your secret’

Thomas mentioned for the reason that New York Instances profile, a whole bunch of individuals world wide have reached out to him with recommendation — some critical and others foolish.

“One particular person prompt, have you ever tried the phrase ‘password’?” he joked. “Some folks have really useful numerous mediums, psychics, prophets that I might speak to. Some individuals are suggesting nootropic reminiscence enhancing medication.”

Up to now, he isn’t taken anybody up on it.

Ian Sherr, Editor-at-Massive at CNET Information, defined that Thomas’ state of affairs shouldn’t be that unusual. “The way in which that Bitcoin works, and that this know-how works, is that it is all meant to be nameless,” Sherr mentioned. “However a whole lot of this knowledge is definitely hidden behind a selected password that you need to get into your account.”

RELATED: Experts warn cryptocurrency has its drawbacks

Sherr mentioned there are a lot of individuals who purchased Bitcoins years in the past again once they have been value little or no, wrote down their password someplace, “and simply thought it would not be a factor.”

“And now it is value thousands and thousands,” he mentioned, “And so they’re sitting there racking their heads to determine the place that piece of paper is or what their password may need been.”

So, what’s one of the best recommendation for storing and remembering passwords?

“We had CNET advocate that you simply use a password supervisor,” Sherr mentioned. “It is a single app that sits in your pc or in your telephone and it hides behind one password, and it is a good one.”

(Sherr, for instance, mentioned he makes use of a line of poetry.)

The app then creates different passwords for you which might be random and meant to be actually arduous to crack. “It really works very well, as a result of you do not have to recollect something anymore,” he mentioned. “You simply have one factor.”

Thomas mentioned he determined to share his story within the hopes it prevents others from making the identical mistake he did. He mentioned in the event you do get a digital pockets ensure you have a plan to safe — and keep in mind — your password.

VIDEO: Expert discusses using cryptocurrency to buy Bay Area real estate

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