Max777 Posted May 31, 2021 Share Posted May 31, 2021 I have a question regarding lost pass phrases and phones, computer crashes, etc., where one can no longer access their XRP. I understand that when my phone falls over the side of a boat and sinks to the bottom of the ocean, that all photos and files stored on that phone are lost forever. That makes sense to me. Regarding XRP, I also understand that if the XRP are stored on a Nano Ledger or similar cold storage device and that device is destroyed, the XRP are lost forever. Again, this makes sense to me. And it is also my understanding that if the XRP are stored in a software wallet, the XRP do not actually reside on the computer or phone, that they reside on “the blockchain”. And if the computer or phone is destroyed, it is possible to retrieve the XRP is by using a 12- or 24-word pass phrase. When a human is involved, things can happen that we never thought would happen. What if that 12-word pass phrase was no longer available at the time it was needed most? Do the XRP float forever on the block chain? What happens to them? What I don't understand is how XRP, arguably the "greatest digital asset ever created”, requires that I keep a random 12-word phrase written on a piece of paper in a safe and secure place to maintain possession. I mean, I used ID to buy it, I know the time the XRP were placed into the wallet/blockchain, and I know the number of XRP involved. It really seems like it should be possible for me to prove I own them. Here's what happened in my particular situation: I installed a software Wallet. Instead of writing the 12-word phrase on paper with a pencil, I copied it to Excel. I then transferred XRP from Binance to the Wallet. So far so good. With both the Wallet and the Excel file open still open, I stepped away from the computer and when I returned the computer had restarted. The password wouldn't work so I could no longer open the Wallet. The Excel autosave functionality didn't happen to capture the 12-word phrase. The whole process took less than 20 minutes, from start to finish. Is it really all over just as quickly as it began? I am fully prepared to accept this loss. It just seems that a hand written note shouldn’t be the weak link in this technology. It also seems like there would be some sort of process in place to accommodate for human error. If anyone has any thoughts on to retrieve the lost XRP, or, to help me understand why they are indeed gone forever, it would be very much appreciated. Warmest regards! Link to comment Share on other sites More sharing options...
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