What if someone lost his Bitcoin wallet?

[yonkii 3205]

On 12/22/2019 at 12:54 PM, SuperCrypto said:

If lost, it can never be recovered, as if it had been burned, right?

No my friend. Burned means it can'tbe recovered in Bitcoin too. This will mean you send the coins to an address that nobody has access. But if you lose your hardware wallet or even burn it you will be able to access your funds with your private key and your secret recovery phrase.

[Fixfin 2569]

Let me explain this. Your bitcoins are not stored in the wallet, the wallet gives you access to the private key which you can use to have access to the blockchain and the bitcoins that are represented by this private key, if you plan to move them you can do this from anywhere that you can use your private key. It is not a key to unlock the ledger device but the blockchain.

[benalmoh88 1500]

you are holding your bitcoin in wallet, if you choose good and strong wallet and forget password you can contact support and they can help you for your problem, but if you choose bad or fake wallet you will never reopen your wallet.

[Zeshan Khalid 2577]

If the control of the email ID on which your wallets account is based is in your hands then you can never lose your wallet. So you must keep all the information in your control

[Onden 2098]

If someone loses the key to his bitcoin wallet, of course the bitcoins cannot be returned, such as lost and forfeited. For that, keep your wallet keys secure. Be careful when transacting and also always check the address where Bitcoin is sent to. Bitcoin is not a controllable financial system, so the bitcoins you own, you control it yourself.

[luchogamer23 51]

If someone loses their bitcoin wallet, if they also lose the seed or the words to make the backup, they would also lose their funds so write down their seeds and save them

[Rawad933 159]

By type of these purses, my friend, if it's the kind that installs on the mobile phone, the loss of that wallet linked to the keyword, if you keep the keyword in a safe place you won't lose anything from your encrypted

[chawki28 55]

This is a dangerous matter. You should always save your wallet information and encourage not to lose or steal it. I previously had the same problem with me and I lost my Ethereum wallet with a good amount of Ethereum

[gbfisher 1815]

Every crypto wallet have theiir backup feature like bitcoin wallet or any wallet give private key and 12 phares for backup. So keep it save. If you lose these key or words then your all crypto money in wallet are waste beacuse you dont recover your wallet. So crypto is a digital money and for securing this money, you should be very clever and be careful. 

[Matias Conforti 89]

I think the only way to recover it is with the 12 private words, it seems to me that it is the only way to recover the wallet, it is essential to take a photo of them

[smithk 149]

It is very easy at the same time very difficult to lose your bitcoin.

You re-access your wallet using your 12 phrases and private key if using ann  app.

Howe if you lost your private key you will lose your btc. Always keep your 12 pharses and private key safe.

[Mella 3680]

I am have this same question and it is not an easy but I am known that the wallet is not where the bitcoin are store but the private key is what give to us the access the blockchain and we are have to own this and store it to safety.

[Sykkuno 2887]

Losing the wallet means you don't lose your coins, if you have the phrase to the wallet or the private keys then you can use them with any wallet and you can still use your coins. It is something you need to know that they are not damaged.

[bogdanoff 3173]

I did not understand, there are wallets running for miners and these wallets that these miners lost where files that had a password too but this is not how wallets for users work, except from them that can be lost and lose bitcoin. 

[Omar Ommeish 4872]

On 12/22/2019 at 5:51 PM, Jimmy said:

It can be never recovered unless the user or some people find the private key of that lost wallet and also the coin will stay on the address and not be buned, Always do back up your data including bitcoin private key and other crypto wallet online and offline, Store it on safe place.

Yes, it is impossible to restore the wallet, so we must always keep a backup copy, and I advise you to send the backup copy to one of the friends you trust.

[guatazoo 7150]

On 12/22/2019 at 1:54 PM, SuperCrypto said:

A question arises in my mind that if a person lost his Bitcoin wallet, he would not be able to return it again, so how much Bitcoin was lost for this reason, and it cannot be used again. Given that this currency lacks any tangible physical presence, unlike other monetary currencies that are controlled by banking banking institutions, bitcoin is not controlled by specific persons or entities other than its users.
If lost, it can never be recovered, as if it had been burned, right?

If you lost your wallet login the only way that you can use to recover is to use recovery phrase, but if you also lose your recovery phrase, thats means you cannot recover it again, and I think KYC might be the help on this issue in the future. 

[khan22 3478]

If someone lost his wallet and he is not remember his wallet so its mean he lost everything but if the wallet he will remember but he lost the wallet id which will be use at the login time he or she will lost everything if he have 200 BTC he lost that.

[zhoutong 2188]

I don't know exactly about that but you can access another wallet by inputing the private key or a json file and a password. I don't know about the phrase if this is locked for every desktop device but I think it can unlock your funds too so keep all of these and especially the private keys.

[ajabe2 1485]

If you lose your crypto wallet and also all your keys then you can not do anything and you will not be able to restore access to your coins in anyway. Therefore, it is advisable to make several copies of them and also keep them offline for more safety.

[cryptovlek 2597]

You can restore your wallet with the recovery phrase but you should also extract the private key and have both securely stored so you will not ever lose them and nobody else can find them either.

[Zafarwaheed 0]

On 12/23/2019 at 4:41 PM, Badman001 said:

If u have been backup phrase or private key then u got ur bitcoin wallet back.  If you lost private key of ur wallet (except :- blockchain) then no chance to got ur wallet back.

 Thanks for such an amazing information to safe my account wallet properly. If someone lost his private key, then don't lost a digital wallet as physical wallet maybe. And it's very difficult to recover. I don't heard from anyone who succeeded to retrieve his wallet. Thanks again for this topic.

[kryptonick 2659]

You keep your private keys separate from your computer and written down and you keep the 12 word phrase too written down but you have to hide them and make it so in a way nobody finds them, or if they do find them they won't be able to understand what this is, there is a lot of ways to save your keys but if you don't then you lose your crypto.

[Shaheer16 908]

If you can lost your bitcoin wallet, it can be recovered by the private keys which is provided by the wallet at the time of making of account on the wallet. 

But if you loses your private keys then your money can't be recovered. 

I can't face that problem till now.

[Whited35 15285]

On 12/22/2019 at 4:39 PM, SuperCrypto said:

If lost, it can never be recovered, as if it had been burned, right?

@SuperCrypto If you lose an access to your Bitcoin wallet, BTC stored in that wallet will be lost. So can we regain the access to the wallet? Simple answer is yes but here is limitation. Have a look at this.

Once algorithm of a Bitcoin blockchain network performs and completes a task, reversing the task needs entire computing powers of this world and estimated time to confirm a reverse of work done is at least 1 Billion years😂 .  

Kindly follow this topic, I attempted to give core concepts there https://cryptotalk.org/topic/319337-core-blockchain-technology-concepts/

 

[ShiNorton 906]

Very true sir. I think burnt Bitcoins are lost forever & lost wallets with Bitcoins are to forget permanently because no one can recover the Bitcoin from the lost wallets.