Not such a Warm Sunny Colorado for many of us

Just another soul that invested in this Crypto and lost access to it…But wait

I take all the responsibility the files where I keep my codes burned away in my apartment.

I should have other copies but I didin’t and I am sorry but I’m humam

No point asking for any help as I already know is impossible to retrieve these coins.

My point to this topic is that there is less than 0.5% os people in the world that own crypto. But as this number increases more people will end in this situation.

At some point in time a solution must come to this problems.

The more I research blogs and reddits and other websites the more I find there are hundreds of projects and plans for the future of this crypto and many others, but the ones that lost their investment are these so called Issues claimed as “SOLVED”. No they are not “SOLVED” in any way. They are ignored and this is very very sad. Is there a team or member of any team in IOHK working on a solution for theses issues???

Or is this just a web that will catch more and more users?

Crypto is not bought in a individual wallet. It is bought in a website where you must show your identity, bank and proof of identity. So in this account there will be proof that the crypto which reside in your wallet is actually yours. As all the transfers are keeped in this wallet and the website you use.

I am not making a argument saying that crypto is bad, I am just saying that there could be a solution for these “losses” if crypto creators and these websites work together.

I have no problem to send my personal crypto wallet files to IOHK or binance or coinbase or any other team of the crypto world.

In my opinion a crypto government should exist allowing us to get a solution for every possible problem.

As I see this Crypto are not a physical object so the 10 ADA I hold in my Fancy Cardano Wallet can be replaced for 10 ADA from the reserve.

As I destroy my wallet (the one with all the access problems) OIHK sould be able to see proof of this action or ask for video proof of this action and replace the balance I had no no access previously. Is this such a bold Idea?

I get it that you can be robbing your child wallet or your grandmother wallet, but this just means that this feature needed a proof of wallet.

This could be all transactions from wallet and website where they were transferred from;

This could also mean you had to prove you are the same person that created the account in the website (For example Binance makes your take a picture holding a sign saying binance then they match it with your ID photo).

Are they are plenty more options for making this proof of Wallet safe.

I think a “forget spending password” or “lost access?” is possible in the realm of crypto and it’s necessary if one day the world embraces it.

For all I read this Daedalus is one of the most investor friendly Wallet I want to congratulate the team from IOHK and all the developers working in this project.

More and more people are joining this market and I hope there will be a way to prevent this sad situations. I hope one day someone who lost their Wallet access do to the loss of all passwords don’t end up with a “Hope you find them” or “You lost your money bye”.

You seem to be mixing a service provided by middle man (providing you insurance/assurance) versus being your own bank. For analogy - If you burn your cash notes saved in your apartment, there is nothing someone can do - unless you have insurance from another entity (or keep your funds in banks). There is a common misconception of what crypto and decentralised blockchain is, and I can acknowledge that education is not wide, which is primarily due to volatility and attraction - not lack of material, but lack of efforts from an average ‘investor’ - intention to participate being “make quick profits without enough education/research”. If you want to be your own bank, you “own” the protection and backup of your funds. If you want someone else to provide this protection, then you would pay them fees, which is fine - but not a limitation of crypto.

This means you buy it on a non - anonymous exchange, which is kind of an equivalent of bank. If you keep funds with there, you can ask for assurance against any lost funds from that service provider. But when you decide to bring it to your own control, you CANNOT. And if you think this is not what you want, then you need to keep the funds with the service provider and not participate in decentralisation.

That exactly suggests you’re just participating for volatity, in case of which you can use custodial wallets. Again, that’s not a limitation of crypto, but lack of education.

That would completely defeat the purpose of why we are here , but there are and will be services built on base layer that you can participate in - in your case, custodial wallets seem to be what you’re looking for.

While we can sympathize with losses incurred, you need to understand this is mostly due to lack of education, not due to limitation of what’s being built.

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Do you hate banks that much? Do you think that a system where a person can lose all there funds so easily is better? Sorry good sir but for me a system that you lose 2 passwords and your gone is not acceptable.

In my case sir I just feel sick with the “Nothing we can do” situations and the many “Solved Issues” that are still a nightmare for some people.

As there are many people who join this “trend” not knowing they are completly alone.

If I burned my notes in my house, yes. They would not be recovered but if my notes where in my laptop with a code, yes they should be recoverable.

I am not saying that a decentralized system is wrong, just that there could be a way back for people who got there “ADA burned down”.

Again, that is NOT a system, refer to analogy with cash note in original reply.

You can try to contact your local cyber crime authorities (just like someone stealing your cash), OR keep your funds at custodial wallets instead.

So I cannnot really agree with your conception of pushing your loss down to limitations of what’s available, while there are ways - just that the for the one you elected , you did not foresee the outcome.

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This is an intriguing idea, and I think Cardano is ahead of the curve on this. However, I think “a solution for every possible problem” might be a lofty expectation…

There may be hope that someday using atala prism there could be some easy/secure way to prove your identity, and your identity would be used as your key to access your wallet. (but we need to consider identity theft, and all the security threat models)
https://www.atalaprism.io/

You might also be interested in the services provided by Celsius, which will soon be listing Cardano, may soon be run on Cardano, and there’s is some type of announcement coming soon about Celsius and Cardano working together. https://youtu.be/L-BBJgl5sSc?t=2443
Why Trust Celsius - Celsius - Celsius
Does Celsius have an insurance policy? – Celsius Network

Really sorry for your loss, and I hope you can earn it back quickly.

Hi Isaac,
Really sorry to hear of your loss, i’m sorry for anyone in life where circumstance, accident, misfortune, fraud or just bad luck means their situation has taken a ‘wrong turn’

Taking a different view of what has happened, what you’ve identified is a problem that needs a solution and subsequently a challenge for all of us.
If you or someone you connect with or someone in the Catalyst Ideas Area, could come up with a ‘Techy’/Blockchain solution, then socially, financially it could work for all of us for the better.

Crypto/Blockchain is still as you know evolving, as Dor states on his town hall meet ups, “things may break, not work, change etc.” we can all help to make this better.

Whilst “not your keys not your crypto” might be great for some, others will prefer to have a ‘trusted’ person or company custody/protect their assets.

Also I think insurance protection could also be built in in some way to various assets, that way any loss can at least financially protect the user (skilled or unskilled)

If you do take up the challenge, make it easy to use and understand, will lead to much greater/quicker adoption, we’re all human and make mistakes, try not to beat yourself up.

Best wishes for the future

MachTwo

Defend your tech in any way you want this is a Issue a REAL issue and there should be a solution for that not a lazy “nothing we can do”

The problem is Cardano and IOHK alone can’t do anything. But if this project wants to join a government and help make a diferrence they will need to host a team for these problems. There as to be a way to recover from files or to send the files and receive the passwords.

“you should not send your passwords to anyone EVER”

Yes I agree, but if you sent them to a entity responsable for recovering your data than it’s normal.

IMAGINE THIS:

  • You go down the road these days with 100 $ in your pocket, if you lose these notes you lose your money (Crypto these days).

  • You walk down the road with a card holding a balance of 100 $ in your pocket, if you get robbed or you lose it. You can go to the entity responsable and get your money back.

Which option do you find more safe?

Now imagine people with milions which one will they choose?

This is my Issue

Please share more about this as it may interest many that read this post looking for hope

In my opinion identity theft is a problem that can be overcomed as many exchanges already use video proof of your identity and I believe there are more ways to prove your identity as well.

I do think Cardano is making the right move here, giving their users a more secure wallet and the most important factor which is helping many recovering their lost Ada.