Bitcoin Misadventures
We learn from our mistakes. In the world of bitcoin, there have been some real doozies of mistakes. Anyone who has ever lost or misplaced a password can relate to the common problem of bitcoin owners who have lost their private key. There is no second chance of recovering from this blunder. This is why it is recommended to write it down on paper and store a copy of it in several safe digital places. Of course, once someone has your keys, they can have your coin. Be careful. In 2017, the estimate is that 25% of all the bitcoin mined has been lost. That’s a lot of money. Sometimes it is a matter of a lost key, rendering the bitcoins locked away, never to be recovered. Some are like James Howells who threw out his computer without realizing he had his only wallet on the computer. He had 7,500 bitcoins. Given a price of $8,000 per bitcoin at 2017 prices, this comes to a hefty $60 million USD. James is not the only person who has done something like this. In the early days, b...