How to get back millions in Bitcoins? The latest news
Many users mistakenly believe that the crypto industry is unforgiving. Of course, in some matters, this truth really does matter. Nevertheless, in the vast majority of cases, everyone will be able to compensate for a previously made mistake. And even restore a digital account, access to which was lost many years ago. Something similar was done today by a Reddit user who restored his forgotten account to 127 BTC. Millions recovered. But how? Next, we will discuss this event, and also tell you why it is much more important than it might seem at first glance. So, without further ado, let’s get started.
Understanding the background
Following the good old tradition, let’s first analyze the context, which we will discuss later. We will talk about the actions of an unknown user of a separate “subdivision” of Reddit dedicated to cryptocurrencies and the Blockchain in general. The author, under the pseudonym “BitcoinHolderThankU”, wrote a separate material and even released a video in which he told his, without exaggeration, a unique story. It all started with the development of digital assets back in 2011. By 2012, the user had a considerable amount in Bitcoins. Having got 127 first coins, the user completely forgot about his own account. Then money literally fell from the air, and digital assets cost unforgivably little. So there is nothing surprising in the frivolous attitude towards Bitcoin.
Nevertheless, against the background of the growth in the value of digital assets, “BitcoinHolderThankU” again became interested in its own savings. But here’s the problem – the private key is lost. As a result, having restored the coveted sequence, he received his own capital and successfully sold all 127 coins. The cost of one Bitcoin at the time of the transaction was about $ 33,500. Thus, the total amount of the transaction is measured at 4.24 million in net profit. What conclusions can be drawn from this event?
Millions in Bitcoins don’t go anywhere
Even if you forgot about your digital account ten years ago, do not worry, most likely, if the account is secure enough, the money is in its original place. The main thing is to set a goal for yourself and start restoring access. Yes, it may take a lot of effort, since Bitcoin was distinguished by a high degree of security even at the start of its own development. However, nothing is impossible.
Protect private keys
This is one of the most important points that any experienced blockchain user knows by heart. Yes, modern assets are increasingly meeting users and helping to simplify the transaction confirmation process. However, old-fashioned private keys are still required. We strongly advise against storing such confidential information on digital media. The only compromise is offline storage, like a separate hard drive that is not connected to a computer or connected to the Network. Another solution may be to use paper records. Yes, just put the key on the sheet, and then cover the paper with a protective layer and put it in the safe. From there, the key will definitely not go anywhere.
At the moment, Bitcoin is being sold for $ 34,492, while Ethereum is priced at $ 1,063. Agree, it’s time to remember if you bought large coins in the past decade. Be sure to try to restore access to forgotten vaults and properly manage the returned millions. The main thing is to follow the news of the cryptoindustry and the world of the Blockchain. Stay tuned. We publish only high-quality, interesting material. Thanks for attention. Good luck!