On September 23, 2011, Bitcoin Update 0.4.0 introduces Wallet Encryption Passphrase on the heels of Mt Gox Wallet theft 3
Sometime in September, before this update, a hacker obtained the main wallet.dat file again and waited, then began withdrawing funds in October 2011. Mt Gox appears not to have noticed this, seen as an unconscionable neglect of fiduciary duty. – 603,000 bitcoins stolen.
This bitcoin update allowed wallet encryption & prompted users to, “enter a passphrase, which will be used as the key to encrypt your wallet and will be needed every time you wish to send Bitcoins. If you lose this passphrase, you will lose access to spend all of the bitcoins in your wallet, no one, not even the Bitcoin developers can recover your Bitcoins. This means you are responsible for your own security, store your passphrase in a secure location and do not forget it.”
This is a 1 /10 Limited Edition NFT. This artwork is limited to only 10 NFTs available for purchase.
Art details: Original digital hand painted motion art portrait (NOT Computer Generated). The ticker tape displays the historical daily price indexes recorded on this day
Dimensions: 720 x 1080, 19.2 MB, Duration: 15 seconds
Created with Corel Painter, Adobe After Effects & Adobe Premiere
Artist: Denise Holt