SF man who can't remember Bitcoin password says he's 'made peace' with $220M loss

[RandySF]

SAN FRANCISCO (KGO) -- The San Francisco man who can't remember the password to unlock his $220 million Bitcoin fortune says he long ago "made peace" with the reality he may never gain access.

Stefan Thomas went viral this week after a New York Times profile revealed to the world his unsettling dilemma: The password to unlock his Bitcoin fortune is locked in a hard drive that gives users 10 attempts before wiping clean. Thomas has just two more tries.

"There were sort of a couple weeks where I was just desperate, I don't have any other word to describe it," Thomas said, recalling how he felt when he first learned he couldn't find his password in 2012. "You sort of question your own self-worth. What kind of person loses something that important?"

But "time heals all wounds," he added, and over the years he said he has "made peace" with his loss.

"It was actually a really big milestone in my life where, like, I sort of realized how I was going to define my self-worth going forward," he said. "It wasn't going to be about how much money I have in my bank account."




https://abc7news.com/stefan-thomas-bitcoin-password-san-francisco/9635218/

[ansible]

1. It's ok, he's still got a chance to get rich buying some now

If you think $40k BTC is a lot, just wait for what happens in the next 10 years. Especially when the US dollar keeps losing its value.

[dawg day]

2. But... I won't lose access to my boring dollar bank account

This isn't the first disaster with bitcoin.

[soothsayer]

10. Right, a thread recently where a British guy threw his hard drive away

And wants to pay $20m to be allowed to search part of a dump (but they said no).

[qazplm135]

4. Ten years is a long time

To be making predictions about anything.

[renate]

3. Good for him!

We each only get one life, with no do-over and no chance to go back and try again if we get a sudden deathbed understanding of what’s actually most important.

I’m glad he’s chosen to lose one fortune (money) and not also a second, more important one (happiness).

[DFW]

5. There's no way that will ever happen to me

I'll never have $220 million to lose, so not a problem!

[brush]

6. Hah. The guy should've rented a safe deposit box at an old-fashioned dollar bank...

and put the password there for safe keeping—along with a few other places around his house and/or cars.

I mean $220 million and you're careless in how to access it. Have to say it, that's pretty dumb.

[Dr. Strange]

7. I've also made peace with this guy's loss.

[Vdizzle]

8. Has he tried hypnosis?

[pfitz59]

9. There was a British guy who chucked the hard-drive with his Bitcoin info on it.

Searched the landfill. No joy. Lost millions. I say screw bitcoins, just another form of money-laundering...

[dawg day]

11. Just another tulip bulb bubble, albeit one that has

There's nothing backing it but scarcity.

It's crazy they didn't build in some way to recover a password, like every website has.

[NCjack]

12. He should have made a password that can be recreated from

an enduring source that means something to him and not likely to forget and easy to obtain. For example, the Bible or the Constitution of his state. Or a popular book that is likely to be around for the rest of his life. Put reminder in his bank box. For example, if it is the Texas State Constitution, put a Texas quarter or piece of jewelry in his bank box.

[RandiFan1290]

13. He's the former CTO of Ripple

They use XRP which increased 36,000% in the 2017 run up.

He now runs a company called Coil that uses XRP to stream instant payment to internet content creators.