What if someone lost his Bitcoin wallet?

[Kuroashii 181]

I think your private key is your most vital thing to keep in safety. This will give you guarantee that you will be able to access your wallet. But if your wallet is lost, they can hack it or they can never gain access to it.

Edited December 30, 2019 by Kuroashii

[SuperCrypto 7193]

7 hours ago, Mr GUDU said:

It very well may be never recuperated except if the client or a few people locate the private key of that lost wallet and furthermore the coin will remain on the location and not be buned, Always back up your information including bitcoin private key and other crypto wallet on the web and disconnected, Store it on safe spot.

Bitcoin is a valuable currency or can be considered an investment asset as some consider it to be maintained in a correct and safe manner. And take all necessary precautions not to lose the wallet's private key.

[HammadAli 91]

On 12/22/2019 at 3:54 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?

There are some platforms which deal with wallet recovery services. But at least they would require some starting information. 

[SuperCrypto 7193]

20 minutes ago, HammadAli said:

There are some platforms which deal with wallet recovery services. But at least they would require some starting information. 

Losing a wallet means burning the amount of currencies in it and not being able to retrieve these currencies again. This leads to reducing the total number of these currencies.

[HammadAli 91]

3 minutes ago, SuperCrypto said:

Losing a wallet means burning the amount of currencies in it and not being able to retrieve these currencies again. This leads to reducing the total number of these currencies.

I know it. Depends how much currency was in that wallet when it got lost. 

[Hatred 1388]

On 12/22/2019 at 6:54 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?

Your right. There is no comeback when you lost your bitcoin wallet. That's why before you store your coin, make sure that your wallet is very safe and you must ensure that you will not lost it.

[Ms.o 3322]

On 12/22/2019 at 6:54 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

I'm going to give a more optimistic answer, depending on what the user means by "wallet gone" in the subject line.

If they used a desktop bitcoin wallet, and they never backed it up, and they have thrown away the hard drive (or encrypted it multiple times and lost the key) then I think it's fair to say that their Bitcoin is irretrievably gone.

However, Bitcoin is still retrievable if a couple of conditions can be met:

If they used a web-based wallet (such as Blockchain.info) AND

They still control the email address that they used to register for that wallet AND

They remember part or all of the password to their wallet

Then they could retrieve their Bitcoin.

Here's how you'd do this if your wallet was on Blockchain.info:

Get your "Wallet ID", either by finding your original "Welcome to My Wallet" email in your inbox, or

Go to https://blockchain.info/wallet/#/login

Click on “View Options”

Click “Remind Me”

Enter your email address and submit the form

Wait a few minutes while Blockchain.info emails you your Wallet ID

Next, if you remember your password you can login to Blockchain.info with your Wallet ID and your password. Problem solved.

If you don't remember your password, but you have your Wallet ID and you're confident that you know part of the password then [shameless plug] a service like ours (https://www.cryptoassetrecovery.com) can help you recover your password.

[Sumayya 493]

10 hours ago, Fahim said:

IF you lost your wallet they only way to get it back is the 12 phrases and the private key or if you have done kyc. If you lost  the 12 phrases or private key you can't get your wallet back. Or you will lose your bitcoins.

If there is no seed or private key the wallet is lost forever and also the coins are lost

[Oxygen 1004]

On 12/22/2019 at 3:54 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?

yes it will be lost forever. when a currency is stored on millions of server how can we find it whom does not have any identity or a serial number. so only experts can comment and give view on this whether their is any way or not to recover lost funds.

[Roomi 1119]

In my opinion no one can help him out to recover his funds. And i think that it will be lost forever. 

[cryptozalmii37 257]

Yes you are right if you lost the private key or pass phrase of the wallet you have stored bitcoin it mean you have lost your Bitcoins you can't ever recover them 

[Satya31 865]

This is very good question. If we lost our bitcoin wallet the we can acesse it through the password and privet key is safe. But if we lost private key then you lost it permanently. But it is not know to me also that the bitcoin which has in the wallet what happen to this. I also want to know it. 

[pulokdeb 61]

If someone loses a bitcoin wallet, I think there may be some issues because we can have a lot of personalities in this bitcoin wallet.

[Luciferludz 1442]

If you lost your bitcoin wallet and there isvno other way to recover it that's means you have decreased the totally number of bitcoins in the world

[pulokdeb 61]

If someone loses a bitcoin wallet, I think there may be some issues because we can have a lot of personalities in this bitcoin wallet.

[cryptosix 1643]

I lost around $30 because of forgotten blockchain password and have try once more in a lifetime to leave it forever. I never knew that we need to keep the recovery of seed as I thought it was similar to PayPal or any other ordinary wallet.

Once you lost the wallet it cannot be recovered at any time so need to forget it.

[patitaycute 648]

It was easy to recover your wallet but make sure you don't forgot your private keys. Private keys was the important once you forgot your private keys then you lose your wallet.

[Whydoyoucare 1094]

If you have save your private keys or any backup phrase, i think there is a possibility that you can still recover it, however if you dont have any backups or forget your private keys, then move on.

[Sumayya 493]

20 hours ago, Fahim said:

Yes that's right. There have to be any seed or private key to access back in his wallet. If there is nothing seed or private key i can't get back the wallet.

I got more knowledge from you, i should keep my seed and private keep extra safe to avoid lose

[SuperCrypto 7193]

22 hours ago, Hatred said:

Your right. There is no comeback when you lost your bitcoin wallet. That's why before you store your coin, make sure that your wallet is very safe and you must ensure that you will not lost it.

Losing access to crypto wallets can be very costly. So it is important to make a backup copy regularly. In many cases this is accomplished by backing up wallet.dat or Seed files.

[Brushless4500KV 4214]

Only cold wallets can be lost because they are physical devices. Online wallets can not be lost but wallet addresses can be forgotten. You don't need to worry if you lose your wallet address, because it is your public key. When you create a BTC wallet, you will be given private keys and seed phrase by the service provider. Seed phrase is exactly what you need in this situation because you can easily recover your wallet and your funds with it. If you have forgotten to get your seed phrase or lost it, there will be no way you can access your wallet again because bitcoin wallets can not be hacked by anyone!

[Jessica Karren 1242]

I think if some one have lost his wallet he would not able to access his wallet and he can concider his coins are burned so always safely keep your wallet private keys/ pass pharse

[Win 1015]

On 12/22/2019 at 6:54 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?

I think no becouse there is another way to that you know the coinbase wallet if you are using coinbase you can generate bitcoin wallet here and you can recover youre lost wallet here.so i think this one is best for this wallet and dont worry for losing btc wallet if youre using coinbase wallet

[SuperCrypto 7193]

13 minutes ago, Win said:

I think no becouse there is another way to that you know the coinbase wallet if you are using coinbase you can generate bitcoin wallet here and you can recover youre lost wallet here.so i think this one is best for this wallet and dont worry for losing btc wallet if youre using coinbase wallet

It supports various options of payment methods for purchase or deposit such as credit cards and direct bank transfers, but these options are unique to some countries only. I can't use it.

[Hatred 1388]

17 hours ago, SuperCrypto said:

Losing access to crypto wallets can be very costly. So it is important to make a backup copy regularly. In many cases this is accomplished by backing up wallet.dat or Seed files.

Yes, that's true. But even though we nake backup copy, we must first ensure that we can't lose access to our crypto wallets. Ee must assure that our coin is safe and no one can access it except you.