I've been sending my dad bitcoin to one wallet on his phone for 4 years.
He went to Verizon and got a new phone 3 weeks ago and didn't tell me. They wiped his phone and took it. I've never heard of this practice but I also use a company phone and don't have a traditional carrier or personal phone from the US.
When we set up his wallet, I made him write the words down and then told him to put the words on steel. He's a machinist so he has the tools and technical know-how to knock that out in 20 min.
He made the plate, put the lines and numbers on it, but never put the words on it.
He's now scrambling to find a piece of paper he scribbled 12 words on 4 years ago. I always ask him if he has his words in a safe place before I send any sats and he always says yes. Now he's panicked.
A very high percentage of people are not ready for self-custody and this has probably happened to many boomers already.
He went to Verizon and got a new phone 3 weeks ago and didn't tell me. They wiped his phone and took it. I've never heard of this practice but I also use a company phone and don't have a traditional carrier or personal phone from the US.
When we set up his wallet, I made him write the words down and then told him to put the words on steel. He's a machinist so he has the tools and technical know-how to knock that out in 20 min.
He made the plate, put the lines and numbers on it, but never put the words on it.
He's now scrambling to find a piece of paper he scribbled 12 words on 4 years ago. I always ask him if he has his words in a safe place before I send any sats and he always says yes. Now he's panicked.
A very high percentage of people are not ready for self-custody and this has probably happened to many boomers already.
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