Vitalik Buterin on Warpcast

Vitalik Buterin pfp

Vitalik Buterin

Reminder: there's also plenty of people who have lost huge amounts of crypto to *loss* rather than theft. Software bug, forgotten password, lost device, paper wallet burned down in LA fire, upgraded device without backing up data .... lots of ways for that to happen. Because there's no attacker to go after, victims don't have a strong need to talk about it. And often because they see no one to blame but themselves, victims will be too ashamed to talk about it. But it happens. Often. And the truly robust wallet security solutions that our ecosystem needs to build should take loss into account too. (This is a big part of why I talk about social recovery so much!)

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Varun Srinivasan pfp

Varun Srinivasan

going to build a version of social recovery into fc wallets post pectra

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Thomas pfp

@aviationdoctor.eth

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Francesco Piccoli pfp

Francesco Piccoli

There’s an interesting theory I heard recently that claims that - over a long long enough period of time - every crypto will be lost, since every day there is a non-zero chance that some crypto will be lost. Made me reflect about social recovery mechanisms

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Mint Club Intern pfp

Mint Club Intern

thank you boss 69 $hunt

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@Thuong.eth pfp

Yo @vitalik.eth, you dropped TRUTH bombs! Losing crypto to loss hits harder than hacks—forgotten keys, burnt wallets, epic fails. Social recovery? Hell yeah, we need that fire in the ecosystem! #Ethereum #CryptoLife #Legend

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Order Here pfp

True, too scared of loss —> diversify into many wallet —> lose track of which wallet hold what, even if not losing, still lots of mental expenditure compared to normal bank accounts

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Great pfp

I was thinking about this while the news of the fire was still hot on the net. Someone in there probably just had their biggest trade profit in a while only for it to be taken violently. Worse, all their means of recovery were in drives or computers that were also taken by the fire. No one ever expects such a loss and there has to be a way to prepare for it.

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jp 🎩 pfp

i once sent 18k usd to a wallet that was not mine and that's a lot to me. it was brutal. i felt a huge hole inside me. but also a need to recover as fast as possible from it because there was nothing else to do more than learn to be extremely careful about way i interact with my wallet

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Sergii pfp

Wow good article 1 year ago I purchased new PC and forgot to save my wallet (12 words) on old one. -250$ in BTC 😞

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BrightFutureGuy 🎩↑Ⓜ️ pfp

BrightFutureGuy 🎩↑Ⓜ️

Yeap, very true. 🫤 no one else to blame but me doesn’t make for a good public story 🙄

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Samir 🎩 pfp

I faced both of them, forgot password once and wallet drain months ago! In both cases nothing can be done but I talked about both not to blame myself or others but to make sure others don't fall in the same mistake

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L3MBDA pfp

the more we talk about it, the more likely we are to see innovation in this space

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Andrii pfp

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emy augustus pfp

what is social recovery?

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El pfp

No shame in being a victim. In fact I shared my experience on farcaster last year. The goal was to help others avoid the same mistakes.

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offmylawn pfp

over time all crypto will eventually be lost to these methods bullish on burning supply

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