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An online trader has claimed to have lost a stunning amount in bitcoin after a simple error, and is begging a tech giant to help get it back. The anonymous Reddit user posted his conundrum on the Bitcoin subreddit as he pleaded with tech savvy individuals for advice on recovering the image in some shape or form. As a form of security, the trader claimed he tried to send a picture showing his passwords to the pal as a means of back-up in the event that something went awry.
The friend immediately told him it was his responsibility and the user removed the photo from the app with the belief that it was stored elsewhere. However, fast forward to the present day, and the user told Reddit he had bought a new phone and had sought to back up roughly photos and videos from his old device. And it was only after seeking the password-filled image, when the trader was shocked to find that it was not there. The user went on to say that he is now seeking the help of both tech giants and the general public in a bid to retrieve his photo.
I know the rough date and time, is there any chance they would have saved this file as before it left my phone and arrived at my friends it must have gone through the WhatsApp server? Most Redditors responded with some harsh words of advice, issuing tips on how he should be more tech-savvy.
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With mainstream firms such as PayPal and JPMorgan also lending legitimacy to the cryptocurrency by investing it it and adding it to their platforms, industry experts say that this time bitcoin might be here to say. At its most basic level, bitcoin is a decentralized digital currency. Invented in by Satoshi Nakamoto — a pseudonym for an unknown person or group of people — bitcoin's appeal has long been its decentralized platform. That means that it's not under the purview of any national government, and can be resistant to the effects inflation has on traditional currency. Unlike ordinary money, which can be printed by a country's government, bitcoin can only be created by powerful computers through a process called "mining. Unlike traditional currencies which are backed by things like gold and silver, bitcoin's value comes from the trust that investors have in the blockchain network it is built on.
How do we solve bitcoin’s carbon problem?
Since its peak in November, Bitcoin has lost more than 45 per cent of its value. And the superlatives have piled up really quickly. With the US Federal Reserve intending to withdraw stimulus from the market, riskier assets the world over have suffered. Bitcoin, the largest digital asset, extended its decline on Saturday, and has shed more than 50 per cent from its record high in November while adding further momentum to the meltdown in cryptocurrencies. Other digital assets also slid, with Ethereum down 12 per cent. Solana and Cardano each fell at least 17 per cent, according to Coinbase. While there have been much larger percentage drawdowns for both Bitcoin and the aggregate market, this marks the second-largest decline in dollar terms for both, according to Bespoke Investment Group. Crypto-centric stocks also dropped on Friday, with Coinbase Global at one point losing nearly 16 per cent and falling to its lowest level since its public debut in the spring of , Bloomberg data show.
The bigger picture: What does El Salvador’s Bitcoin city mean for the global crypto market?
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Somebody just paid $1.3 million for a picture of a rock
When hackers try to steal someone's bitcoin from a cryptocurrency account, there's a roadblock that invariably appears: a request for a one-time passcode. Some cryptocurrency exchanges mandate that customers use two-step verification. It requires a one-time passcode to be entered after someone logs in with a username and password. It's a crucial security tool that deflects account takeover attempts if thieves have already obtained someone's account credentials. A one-time passcode may be sent over SMS, but the safer way is to use an authenticator app, such as Authy , Cisco's Duo or Google Authenticator , to generate the code.
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Cryptocurrencies are stored in crypto wallets. But these wallets do not store cryptocurrencies themselves, instead they maintain the record of the transactions on the blockchain securely. Crypto wallets operate in the following way: Cryptocurrency wallets are software programs that enable sending and receiving of cryptos with the help of unique public and private keys. Public keys are the wallet addresses where a person can send the receiver the cryptocurrencies and transfer him the ownership of those cryptos. To utilize these crypto funds, the private key stored in the receiver's crypto wallet should match with the public keys of the sender. The transaction is then successful.
Twitter has been actively pushing into the crypto space, with its latest move being the rollout of NFT profile pictures for Twitter Blue subscribers. Replacing the standard circle profile picture is a soft hexagon shape framing the NFT. Users are able to directly connect their crypto wallets to Twitter and select an NFT from their collection as their new avatar. Canada was one of the first countries to have Twitter Blue , along with Australia, when it was first launched in June last year. The subscription service was later made available to New Zealand and the United States.
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