The rapid acceleration of bitcoin this year has had holders mesmerized – sometimes literally. The currency’s soaring value has sparked renewed interest in old wallets containing digital dust. That shrapnel is now worth a significant amount, prompting account-holders to rack their brains in search of passwords and keyphrases. In Russia, frustrated wallet owners now have fresh hope thanks to the rise of the ‘crypto hypnotist’.
Keep Calm and Remember Your Seed
Everyone’s got a bitcoin hard luck story to share, whether it’s selling too early or suffering a hack. Perhaps the most frustrating situation, though, is to be in possession of a wallet you can’t access. In bitcoin’s earliest days, wallets – like bitcoins – were easy to come by, and no one paid much attention to a few fractions of a bitcoin left lingering in one. Five years later, and those fractions of a coin can be worth thousands of dollars.
Numerous tales have emerged of account-holders driving themselves insane trying to recall the passphrase for a wallet they haven’t accessed in years. In Russia, one entrepreneur has set up a dedicated hypnotherapy service to help victims recover their lost wallet passwords. It’s a novel idea – if it works – but one which raises the question: do you trust your hypnotherapist not to steal your bitcoins before bringing you back?