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Opinion
Matt Levine

Don’t Forget Your Bitcoins

Also the Libor transition and Chinese stock bans.

The New York Times has a hilarious story about people who forgot their Bitcoin passwords:

Honestly I could read these stories all day. Here is a fact about me: I did not mine Bitcoin in the early days, so I do not now have thousands of Bitcoin that are now worth tens of millions of dollars, so I do not, for instance, own a $25 million plot of oceanfront land in Barbados, as one person in this article does (even after losing some of his Bitcoins). I admit that I occasionally envy the people who bought Bitcoin early for nothing and are now billionaires and retired. One thing that soothes this envy is reading about people who bought Bitcoin early for nothing and are now theoretical centimillionaires but lost their private keys and can’t access the money. I may have no Bitcoins, but at least I haven’t misplaced a fortune in Bitcoins.