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I don't think this is a good argument at all. They'd have to be "technical" enough to write down 13 words when instructed, and they'd have to be "smart" enough to happen to be early.

So basically no technical or smarts are needed to get to this situation. If anything this suggests the person is your fairly average "dumb" user.

If I had half a million in bitcoin, I'd divide it up into multiple wallets.

The real issue is Bitcoin here.

I'm surprised too... He had his life savings in Bitcoin?

A good friend of mine has ~98% of his savings in BTC since 2015 and know quite a bit of other people with high % of their savings in it. For those that can ignore the short term volatility, who have good incomes as safety nets (say FAANG jobs) to weather any storms, those who don't trust their governments and who are relatively young to recover any large losses, it can be an acceptable tradeoff (needless to say, a very profitable one as well).

Bitcoin makes scamming so much more lucrative . So many pple have been scammed such as fake apps and giveaway scams.

s/Bitcoin/Apple