CryptoCurrency Itts Up

Use this board for general non-cycling-related chat, or to introduce yourself to the forum.
User avatar
NATURAL ANKLING
Posts: 10066
Joined: 24 Oct 2012, 10:43pm
Location: English Riviera

CryptoCurrency Itts Up

Postby NATURAL ANKLING » 5 Feb 2019, 10:55am

Hi,
Oh well.
The founder died Suddenly, the reserves were stored on his laptop, Cold file, Password is encrypt it!
His wife does not know the password.
As far as I know with this type of currency, bitcoin, if you can’t find the license Stored on your media you have no money?
https://www.google.com/amp/s/www.bbc.co ... a-47123371

Typed with speech

Edited for AutoCorrect grammar :(
Last edited by NATURAL ANKLING on 5 Feb 2019, 12:28pm, edited 2 times in total.
Priority Is Still 500K In 24..Just Dreaming...Stay Focused Guys And Keep Sharp...
You'll Find Me At The Top Of A Hill...............Somewhere...After Dark..

User avatar
Mick F
Spambuster
Posts: 45317
Joined: 7 Jan 2007, 11:24am
Location: Tamar Valley, Cornwall

Re: CryptoCurrency Itts Up

Postby Mick F » 5 Feb 2019, 11:06am

This is an issue generally with computers and accounts, let alone Cloud storage.
If you die suddenly and no-one knows your passwords, they're stuffed.

Moral?
Write them down.
Mick F. Cornwall

kwackers
Posts: 12881
Joined: 4 Jun 2008, 9:29pm
Location: Warrington

Re: CryptoCurrency Itts Up

Postby kwackers » 5 Feb 2019, 11:19am

Mick F wrote:This is an issue generally with computers and accounts, let alone Cloud storage.
If you die suddenly and no-one knows your passwords, they're stuffed.

Moral?
Write them down.

I use 'LastPass' (alternatives exist).
Every site I use exists on there along with notes about where 'stuff' lives.

My other half can request the password and I have a two hour window to refuse the request, if I don't then she gets access to everything...
(The opposite is also true)

I do otoh enjoy crypto currency as entertainment. Folk trying to convince each other that it'll one day be a 'real' currency along with the idea that it's somehow decentralised.
It's almost as entertaining as brexit.

I did make a bit of cash out of crypto currency, I accidentally mined some (50?) BTC eons ago and then one day discovered they were worth $200 each!
If I'd hung on a bit longer I'd have retired now but can't complain.
However I know people who bought into it big time and are basically financially stuffed.

User avatar
661-Pete
Posts: 8559
Joined: 22 Nov 2012, 8:45pm
Location: Sussex

Re: CryptoCurrency Itts Up

Postby 661-Pete » 5 Feb 2019, 11:37am

I think Mrs P and I are covered, as regards passwords. Anyway, I assume that banks will release funds once one partner dies - as they always have done...

But this story does remind me of those "Après moi, le déluge" moments that used to trouble me in my working days as a Software engineer. For a lot of my work I was the sole person involved, and I know from experience how difficult it is for another to delve into one's coding! No matter how well-written and how well-documented the code is! Indeed, I seem to recall that years ago a company we worked alongside, had to bin an entire project when the programmer responsible for it died unexpectedly.

Ah well - it didn't happen in my case. I'm retired and well out of it. And others know the passwords to access my legacy stuff. Not that it's being developed any further now, the code is essentially 'frozen' at its most recent release.

For those who are minded to invest in this cryptocurrency nonsense (not I!!) - well this may serve as a warning.... :twisted:
Suppose that this room is a lift. The support breaks and down we go with ever-increasing velocity.
Let us pass the time by performing physical experiments...
--- Arthur Eddington (creator of the Eddington Number).

Canuk
Posts: 1105
Joined: 4 Oct 2016, 11:43pm

Re: CryptoCurrency Itts Up

Postby Canuk » 5 Feb 2019, 11:45am

Apparently there's a laptop lost in a landfill in England somewhere with £25 million worth of (7500) bitcoin on, which the owner purchased on the first release of the currency for roughly 0.01% of that.

Fight with a girlfriend, he goes away for the weekend, when he comes back she's tossed it to the rubbish bins. Gone.

Seemingly there's treasure hunters trawling the site every weekend looking for it. All that money encrypted on a few digital keys on a hard drive... There be gold!
Last edited by Canuk on 5 Feb 2019, 11:49am, edited 2 times in total.

Canuk
Posts: 1105
Joined: 4 Oct 2016, 11:43pm

Re: CryptoCurrency Itts Up

Postby Canuk » 5 Feb 2019, 11:46am

661-Pete wrote:I think Mrs P and I are covered, as regards passwords. Anyway, I assume that banks will release funds once one partner dies - as they always have done...


Not in France, it can take up to 2 years to get a spouse's funds released, and that's going through a pricey solicitor to do the legwork.

User avatar
661-Pete
Posts: 8559
Joined: 22 Nov 2012, 8:45pm
Location: Sussex

Re: CryptoCurrency Itts Up

Postby 661-Pete » 5 Feb 2019, 1:29pm

Canuk wrote:Apparently there's a laptop lost in a landfill in England somewhere with £25 million worth of (7500) bitcoin on, which the owner purchased on the first release of the currency for roughly 0.01% of that.

Fight with a girlfriend, he goes away for the weekend, when he comes back she's tossed it to the rubbish bins. Gone.

Seemingly there's treasure hunters trawling the site every weekend looking for it. All that money encrypted on a few digital keys on a hard drive... There be gold!
This reminds me of the old "1933 penny" story that was widely circulating when I was a kid. At any rate, whenever I got on the bus, I used to diligently check through my change - just in case.... :?
Suppose that this room is a lift. The support breaks and down we go with ever-increasing velocity.
Let us pass the time by performing physical experiments...
--- Arthur Eddington (creator of the Eddington Number).

User avatar
Mick F
Spambuster
Posts: 45317
Joined: 7 Jan 2007, 11:24am
Location: Tamar Valley, Cornwall

Re: CryptoCurrency Itts Up

Postby Mick F » 5 Feb 2019, 1:33pm

1933 penny?
£3.80 to you sir.

https://www.ebay.co.uk/itm/153350396532
Mick F. Cornwall

River_rat
Posts: 9
Joined: 6 Sep 2018, 10:35am

Re: CryptoCurrency Itts Up

Postby River_rat » 5 Feb 2019, 1:46pm

Mick F wrote:1933 penny?
£3.80 to you sir.

https://www.ebay.co.uk/itm/153350396532


Interesting ad that, From the description: "The coin in the picture is the example for sale." From the top of the ad: "2 available 4 sold"

Whereas from http://www.royalmintmuseum.org.uk/collection/collection-highlights/coins/1933-penny/index.html "No record was kept at the time of how many pennies dated 1933 were made but it is thought to be no more than six or seven."

Someone somewhere methinks is telling porkies!

River Rat

User avatar
Mick F
Spambuster
Posts: 45317
Joined: 7 Jan 2007, 11:24am
Location: Tamar Valley, Cornwall

Re: CryptoCurrency Itts Up

Postby Mick F » 5 Feb 2019, 1:52pm

Interesting.
Never heard of this before today.

https://en.wikipedia.org/wiki/History_o ... enny_(1901–1970)#1933_rarity
Mick F. Cornwall