Password forgot; Bitcoin 7,002 (1602 cr) is going to be lost.!

 

SAN FRANCISCO: Bitcoin prices soared as, during the Corona era, the world pursued new investment avenues. This sudden jump, for many, made them wealthy. The news, however, is that some are affluent but have lost little. Stefan Thomas, a German who lives in San Francisco, USA, is one such person. He has 7,002 Bitcoins in his possession. Adding in their value, the current price would be $ 220 million, or $ 1602 billion. But Stefan is in fear and misfortune that he will never get it.

Because he forgot the password of his bitcoin account. He says the paper on which it was written was lost. The number of times a Bitcoin account password is mistyped is 10. After that, sometimes the account itself may be lost forever. This is how Stefan mistyped his password eight times so far. There are only two chances left.

He often opens his account with a lot of planning and enters his password, but he misses it every time. Stefan intends to move very carefully, as losing, even more, is equivalent to losing $ 220 million.

Bitcoins, the cryptocurrency, is now estimated to be 18.5 million worldwide. About 20 percent, or $ 14 billion, of people, may have lost their passwords, as happened to Stefan.

Business Standard, meanwhile, reports the story of a man in a similar situation as Stephen. His name is Brad Yasser and he has already spent hundreds of hours recovering his forgotten bitcoin wallets.

His thousands of bitcoins were created using his computers in the early days of technology. Today their current value is in the hundreds of millions of dollars. But I forgot the password for the account. Brad Yasser now keeps the hard disks of these computers in vacuum-sealed bags invisible to anyone. He thinks that if he gets the password then it will be useful.

At the same time, the value of Bitcoin is increasing. Bitcoin has seen an 800% increase in growth since March. In December 2020, this record jump led to the collapse of Coinbase, the main cryptocurrency exchange in the US. The coinbase is currently in the process of listing Bitcoin on Wall Street in the face of increasing demand.

Investors and traders are hoping that the days will come when Bitcoin will be available for mainstream transactions through PayPal. Investors in the United States are attracted to Bitcoin because of Bitcoin's ability to curb inflation and the potential for immediate profitability. According to Mo Xiongsim, currency analyst at the Bank of Singapore Some investors say they think the dollar will depreciate. And people think that Bitcoin is a better investment than gold. Many investors believe that Bitcoin investment is a better safe deposit than gold in this era of the Kovid epidemic.

Therefore, in 2020, Bitcoin recorded an average daily growth of 2.7%. Gold grew by only 0.9% during the same period. Analysts expect the value of a bitcoin to reach $ 100,000, according to Sergei Nasrov, one of the founders of the blockchain project ChainLink. Ethereum, the second-largest cryptocurrency after Bitcoin, jumped to a record high of $ 1,014 (74,100) on Sunday.

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