What Happens When Bitcoin is Lost (Losing 7500 Bitcoins)
What happens when Bitcoin is lost? After experiencing the bear market in 2018, B
What happens when Bitcoin is lost? After experiencing the bear market in 2018, Bitcoin has retraced from its peak to its lowest point, but now it has recovered to its previous level.
For the cryptocurrency community, the biggest challenge this year is the security issues of exchanges: transaction security, fund security, and compliance. If the exchange is one of the users’ biggest concerns, then could there be incidents like hacking or theft?
The answer is actually simple – exchanges themselves have risks and potential regulatory loopholes, so many investors may lose their assets, and the exchange can ensure that there are no traceable digital currency assets in their accounts.
Moreover, due to the imperfect business models of exchanges, they are unable to meet users’ operational requirements in a timely manner; at the same time, some exchanges, in order to maintain their own interests, have faced restrictions and even website closures. These can become huge risks for exchanges.
Another question is: how do you protect your investment returns?
At this moment, the concern is how we can return all the money in our hands when the market panics. I believe everyone can feel the impact of this emotion!
First, let’s talk about personal assets: what happens when Bitcoin is lost?
If you are an experienced player, how much BTC would you consider buying to cover the cost? If not, then sell it, but the price will definitely be volatile (such as more than a week), because many people think that Bitcoin has risen too fast, so they start to sell a large number of coins they hold, to the point that some people even lost their “mining machines”. On February 12th, a certain media reported that an anonymous influencer claimed to have bought $30 million worth of Bitcoin and hoped to get it back, but couldn’t fulfill the promise of providing money, so he ultimately chose to transfer 1 million coins to a cold wallet and withdrew $100,000. Later, there were reports that he had purchased about 200,000 Bitcoins as reserves. On the evening of March 16th, according to Weibo users’ leaked information, this influencer had bought over 2,000 Bitcoins at the end of 2014. At that time, it was a bull market, and the price of Bitcoin had already reached over $20,000. However, as the market continued to heat up, Bitcoin gradually lost its dominant position, and the current price is close to 30,000 RMB.
Losing 7500 Bitcoins
According to coindesk, shortly after losing 7500 Bitcoins on January 8, 2018, I suddenly realized that I had lost all of these coins. At that time, a friend of mine emailed me saying that he had lost over $100,000 worth of Bitcoin (BTC) and wanted to use it as an opportunity to buy some Bitcoins as compensation, but it was unsuccessful. Then he transferred the funds to another account, and now the balance is only about $2500 – roughly equivalent to 750 BTC.
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