Vitalik Explains his Struggle with His Private Key on Two Papers After Shiba Inu

Vitalik at the Lex Fridman interview: If the leading Dogecoin were 50 billion dollars, then surely the second largest Dog token deserves you know at least 7 or 8 billion.  Right!

I think that is kind of how silly the mindset of the Shiba people is. So, bad, they also did this other gimmick.  They gave me half the SHIBA token supply. They were not actually the first projects to do this.

So, around the end of 2020, there was this weird project called Tellor. I think they are ChainLink competitor or something like this. But I think they just dumped 50,000 dollars’ worth of their dollars in to my wallet. And, then they were like look he is our supporter. And, as soon as I discovered this I just what publically assaulted Tellor tokens.  This created a bit of a Twitter split.

Now, the Shiba people were cleverer – instead of dumping to that wallet dumped to my cold wallet.   In cryptocurrency, there is something like this called the cold wallets and hard wallets.  Basically, the thing that actually owns your money is like this – 80 digit number called the private key.

Right, and when that number is just stored on memory on your computer or the phone. It is really easy to access.  Cold wallet, means it is either written on a paper or is written on a computer that is never accessed in the internet.  So, cold is very inconvenient, but cold is also much more secure, because even if that computer has some viruses on it, it is like air gap. It is just not going to be able to upload it.

So, it is cold wallet and all the money is out of the cold wallet and so it is safe for me to talk about it now, but it was a laptop that was sitting in Canada, and I also had 2 pieces of paper where I wrote down these numbers on the two pieces of paper one was with me and one was in Canada. And, if you add those two numbers you get the private key.

So, because of CoVid travel restrictions and the cold wallet in Canada, it was very difficult for me to access it. I am not sure they knew this. May be basically they thought they need to send these Shiba Inu tokens where it is very difficult for me to access. But then, I saw these dog tokens and saw more and more people talking about it and at some point I realized that hey these things are worth billions of dollars.

Now, there is a lot of good things that you can do with that amount of money. It would be a waste to just see and go. So, I actually made a decision that I would actually get by private key safely.

I actually had to call up my family and tell them to read out the number off of their paper and I entered that in to a fresh laptop that I brought and then I put the other number on my piece of paper and added the two numbers on the computer and there is a key. And, at the same time I just scrambled for two days. Setting up a new wallet to send my ETH through safely.