Bitcoin, which makes millionaires overnight, has also been a lock on the fate of many investors. People have come on the road even after owning Rs 1650 crore for forgetting the password of this cryptocurrency digital wallet.
According to cryptocurrency data firm Chinalysis, 20% of the approximately 1.85 crore bitcoins in the world are currently stuck in wallets. Computer programmer Stephen Thomas, who lives in San Francisco, owns $ 220 million bitcoins.
Unfortunately, he has forgotten the password of his hard drive (iron-key). In which the private keys (key) of their digital wallet are hidden. There are only ten opportunities to unlock Iron Key.
Thomas has tried eight times and now he has only two chances to reach 7002 bitcoins. Thomas says that only the keys of possible passwords keep moving before his eyes day and night.
At the same time, Brad Yasser, an entrepreneur in Los Angeles, tells that I spent hundreds of hours to get the lost password of my digital wallet for many years, but was not successful. The value of thousands of bitcoins kept in them has become millions of dollars today. Frustrated Yasar says if I had remembered the password, I would have had hundreds of times more money today.
Complicated algorithm increases difficulties
Bitcoin software works on complex algorithms. This creates an address and a personal address for every investor who knows only the person who makes the wallet. Through this system, a person can become the owner of bitcoins without registration or identity check with the financial institution.