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Trash to Treasure - $163 Million BTC Lost In Landfill

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Avatar for The.Part.Time.Economist
2 months ago
Topics: Cryptocurrency, BTC

One cryptocurrency user recently made headlines for his $6 Million proposal to hire workers, machines, and even robot dogs to scour a landfill for his old hard drive that was claimed to have $163 Million worth of lost Bitcoin on it. Although this case is certainly interesting, he is far from being the only crypto user to accidentally lose cryptocurrency that was stored on their device. Just as we have seen with the recent meltdown of custodial crypto storage solutions like Celsius, it appears that there are also risks involved in storing crypto yourself. The inability to completely avoid risk may lead many new crypto users to throw up their hands in dismay and assume that crypto is just too risky. In today's post, I'd like to point out that although both custodial and noncustodial crypto storage solutions have risks, the risks are different, and each user has the ability to make tradeoffs between the risks that they are willing to assume. As always, this is not financial advice. #crypto #cryptocurrency #btc

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