Winners and Losers of the Crypto Race |
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Winners and Losers of the Crypto Race

Cryptocurrency market participants include those who managed to profit from the cryptocurrency purchase (98% of all bitcoin wallets since 2017), those who bought crypto at a price higher than the current rate, and those who did not buy any cryptocurrency at all. Thus, there are some users who are more desperate than those who did not buy crypto a few years ago. And this is due to the neglect of the security of their assets.

Stefan Thomas, American programmer

Stefan Thomas, a German-born programmer from San Francisco and former CTO of Ripple, has forgotten the password to his small hard drive, which stores the keys to a wallet with 7,002 bitcoins (about $270 million). He had 10 attempts to regain access, while he already did 8 inefficient attempts. 

Stefan Thomas received payment in bitcoins for creating a video about cryptocurrency 10 years ago. The programmer was attracted by the idea of the ‘unregulated’ cryptocurrency. Bitcoin was valued at $2 at the time.

Brad Yasar, American entrepreneur and investor

Brad Yasar is the Founder of Beyond Enterprizes, a cryptocurrency and blockchain advisory firm, as well as Co-Founder of the Blockchain Investors Consortium (BIC), which has allocated over $5 billion for crypto projects. 

He started mining bitcoin on old computers from the very beginning of its existence. He would have had thousands of bitcoins, if he didn’t lose access to his wallets many years ago.

James Howells, Welsh programmer

IT worker from South Wales, James Howells, was one of the first to mine bitcoin since 2008, immediately after the publication of the whitepaper and its software. In a short time, he managed to mine over 7,500 BTC. 

In 2013, his hard drive with passwords ‘randomly’ ended up in a landfill. When asked how this happened, Howells explained that the hard drive was thrown into the trash when cleaning.

Campbell Simpson, Editor of Gizmodo Australia

In 2011, Campbell Simpson, a journalist for the Australian website Gizmodo, cleaned up his home and threw away some old things, including a hard drive with a bitcoin wallet. It contained 1,400 bitcoins, which he bought in 2010.

Gabriel Abed, Barbados entrepreneur

In 2011, too, Abed's colleague formatted his hard drive on a laptop, containing the keys to a crypto wallet. There were 800 bitcoins on it. Despite this, the entrepreneur continued to use cryptocurrency, because at that time there was a difficult situation with access to traditional financial products in Barbados, while Bitcoin served as an alternative means.

NY Times: Tens of billions worth of Bitcoin have been locked by people who forgot their key. Of the existing 18.5 million Bitcoin, around 20 percent — currently worth around $140 billion have been lost – according to the cryptocurrency data firm Chainalysis.

Crypto market leaders. Latest data

Among the most successful crypto investors are the brothers Cameron and Tyler Winklevoss. In 2012, they invested some $11 million in Bitcoin that they received as compensation from Facebook for using the idea of ​​creating a social network. The fortune of each of the brothers is now estimated at $1.4 billion. 

Former venture capitalist Matthew Roszak has been able to earn about $1.2 billion on cryptocurrencies since 2012, when he made his first Bitcoin investment, while the notorious Tim Draper, an investor from Silicon Valley, bought more than 29,000 bitcoins confiscated by the US authorities from Silk Road. In 2014, he paid $ 632 for each bitcoin, while now his fortune is estimated at $1.1 billion.

      According to The Block's statistics, at the end of 2020, the number of bitcoin wallets that made their owners millionaires was 68,000.
BitInfoCharts data: Numbers of addresses that store Bitcoins.

Investing in bitcoin has made many people around the world millionaires and billionaires. And this is without taking into account the positive dynamics of investments in other cryptocurrencies. 

The task of EDC users, like other coin owners, is not only to increase their asset volumes, but also to be able to preserve them. 

The platform's DPoS consensus algorithm makes attacks costly and virtually eliminates them, since a successful attack would require ownership of at least 51% of all existing coins. As we can see, often the loss of funds is caused not by scammers and hackers, but their owners’ foolishness. 

To access an EDC Blockchain wallet, a unique 16-word password phrase (brainkey) is required. Write it down, keep it in a safe place, and follow the simple guidelines to keep your EDC coins completely safe.

  • Install an antivirus program on your computer 
  • Do not save your wallet login details if you are using someone else's computer 
  • Do not store your brainkey on the internet 
  • Use exchange platforms to exchange coins, not to store them 
  • Check the links you follow 
  • Download the wallet only from the official website on https://blockchain.mn/
  • Add two-factor authentication to secure your wallet: EDC Blockchain wallet - Settings - 2fa 
  • Do not share brainkey with third parties

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