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If you’ve ever thought you had a bad experience with a forgotten password, San Francisco-based programmer Stefan Thomas is now two guessing away from losing $ 220 million in Bitcoin. According to the New York Times, Thomas is just one of many first Bitcoin investors to forget the security keys to their digital wallets as the cryptocurrency crosses the $ 33,000 mark.
At the start of Bitcoin, Thomas received around 7,000 coins from an early investor for making a video explaining the currency. As cryptocurrency reached a new dizzying high, Thomas sought access to his digital wallet, but after eight incorrect guesses he realized he had forgotten his password. It’s also important to note that the specific wallet Thomas was using to hold his Bitcoin has a system that clears the wallet after 10 incorrect guesses. With just two more attempts, Thomas has put his hard drive away while he searches for another way to access his Bitcoins.
Thanks to the decentralized and anonymous nature of Bitcoin, there is no real way to recover a forgotten password. Some reports note that nearly one in five Bitcoins is lost permanently, with the total value of lost Bitcoins estimated to be nearly US $ 140 billion.
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