this post was submitted on 11 Sep 2023
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[–] [email protected] 37 points 1 year ago (2 children)

The bitcoin isn't stored on the harddrive, it's on the bitcoin blockchain, but he stored the key needed to access it on only that one harddrive. Without that no-one can access it.

[–] [email protected] 8 points 1 year ago (2 children)

That makes a lot more sense. Presumably you can back up the key however you like to avoid situations like this?

[–] [email protected] 13 points 1 year ago

Absolutely, but do mske sure the backups are secure, anyone with access to them can move those bitcoins.

[–] [email protected] 4 points 1 year ago

You can. However, it's easy to not bother, particularly when bit coin were a few pence each. Now the price is sky high, it's suddenly worth millions.

[–] [email protected] 5 points 1 year ago

So TLDR, he stored the password or an equivalent to the password on a hard drive, and this password is needed to access the Bitcoin