My no-longer-secret Bitcoin shame

Bitcoin has infested tech news lately–the cryptocurrency’s unlikely rise in value, its subsequent and unsurprising fall in value, what complete tools Bitcoin zealots can be in front of a reporter, and so on and on. I’ve watched all of this as an unwitting spectator.

Yes, I’m one of those doofuses who forgot a password to a Bitcoin wallet. At least I have a half-decent excuse: CES.

I didn’t go to the gadget show in 2014 planning on investing in Bitcoin, but one of the first events I attended featured a diverse contingent of BTC startups, one of which had a dollars-to-Bitcoin ATM. How could I not gamble a few bucks to earn an anecdote to throw into a Bitcoin explainer?

I put a $5 bill into this thing and followed an exhibitor’s advice to install the Mycelium wallet app on my phone, scan a QR code off the ATM’s screen, and set a 15-character passcode to protect my stash of .00513 BTC.

Guess what I forgot to do as I headed to my next CES appointment?

I then mostly ignored the app, except for the occasional check to see how my investment had decayed. That habit faded, and when I tried resetting my phone the next fall to fix some touchscreen bugginess, I didn’t even think about the risk of losing access to my tiny Bitcoin hoard.

By which I mean, I didn’t even think to open Mycelium until several months after that unsuccessful phone-troubleshooting exercise. Then I realized that I could no longer remember the 15 characters I’d typed on my phone’s screen two years earlier, without which I could not restore the backup I had made right after my ATM transaction.

That’s where things have remained, even as Bitcoin’s value has soared and then plummeted. It’s annoying, but at least I have two things going for me: The app won’t lock me out as I keep guessing the passcode incorrectly, and at the current exchange rate I’m only out $57 or so. I’ve done much worse gambling in Vegas.

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Weekly output: a bum Bitcoin deal, CES recap, Facebook and trusted news

The week after CES is always among my less productive ones–but this year, I can’t blame that on coming down with a CES-transmitted cold. Fortunately, I have the Dealmaker-in-Chief’s accomplishments of the past few days to put my own in a more positive context.

1/15/2018: Kodak bitcoin miner: What this dubious scheme says about technology’s misdirection, USA Today

My last post about CES unpacked a dubious Bitcoin-mining proposition on display in Kodak’s booth.

1/16/2018: Techdirt Podcast Episode 150: The CES 2018 Post-Mortem, Techdirt

I spent an hour or so talking with Techdirt’s Mike Masnick about what we saw at CES and what that suggests about the state of technology. Once again, I was struck by how more than two decades of practice at CES did not stop me from missing some interesting things at the show.

1/20/2018: Facebook and trusted news sources, Al-Jazeera

The news channel had me on to talk–as usual, overdubbed live into Arabic–about Facebook’s announcement that it will survey its users to see which news sites they trust, then prioritize those sources in the News Feed accordingly. I expressed my doubts about that idea, noting that a survey done last summer by the University of Missouri’s Reynolds Journalism Institute found that ranked Buzzfeed less trustworthy than Brietbart News–and that the conspiracy-theory outlet Infowars outranked both.