Lost Passwords Lock Millionaires Out of Their Bitcoin Fortunes

Stefan Thomas, a German-born programmer living in San Francisco, has two guesses left to figure out a password that is worth, as of this week, about $220 million.

The password will let him unlock a small hard drive, known as an IronKey, which contains the private keys to a digital wallet that holds 7,002 Bitcoin. While the price of Bitcoin dropped sharply on Monday, it is still up more than 50 percent from just a month ago, when it passed its previous all-time high of around $20,000.

The problem is that Mr. Thomas years ago lost the paper where he wrote down the password for his IronKey, which gives users 10 guesses before it seizes up and encrypts its contents forever.

Somehow they always guess the password to deactive the nuclear bomb in the movies. Now if only voting would be so secure. Why not? In principle votes could be anonymously ledgered on a blockchain immutably but the voter could always know how it was recorded — and prove it.

The technology for secure voting exists. The politicians just don’t want it.