Title: A Question About Bitcoin Clients Post by: DPony13 on December 21, 2012, 05:09:04 PM This thought has always troubled me...
There is only going to be a total of 21 , 000 , 000 Or 21 Million BTC right? So what happens to the abandoned Bitcoin wallets that have an amount in them? What happens to the amount inside? Will they be locked in there forever or will they be somehow transferred into a new block for miners to mine back again? Please clear this up for me... Title: Re: A Question About Bitcoin Clients Post by: JoelKatz on December 21, 2012, 05:09:59 PM They're lost forever, a gift to everyone who holds Bitcoins.
Title: Re: A Question About Bitcoin Clients Post by: Raoul Duke on December 21, 2012, 05:14:01 PM Define what is an "abandoned wallet" and explain how you reach the conclusion it's abandoned.
Title: Re: A Question About Bitcoin Clients Post by: DannyHamilton on December 21, 2012, 05:18:08 PM This thought has always troubled me... Nothing troubling about it. Bitcoins is intentionally designed to work this way.There is only going to be a total of 21 , 000 , 000 Actually "A Bitcoin" is a bit like saying "A 10 million dollar bill" since "a bitcoin" can be split up into 10 , 000 , 000 "Satoshi". This means that there is never going to be more than 2 , 100 , 000 , 000 , 000 , 000Or 21 Million BTC right? or 2.1 quadrillion Satoshi. So what happens to the abandoned Bitcoin wallets Assuming that the private key is truly "lost/ababndoned" and not printed out or stored on a hard drive somewhere that someone will discover,that have an amount in them? What happens to the amount inside? Will they be locked in there forever yes this is exactly what will happen. One possible exception to this would be if somebody someday finds a weakness in the ECDSA algorithm. If that happens, then people will be able to use that weakness to "steal" the bitcoins from those lost adresses. or will they be Absolutey not.somehow transferred into a new block for miners to mine back again? Please clear this up for me... Is it clear?Title: Re: A Question About Bitcoin Clients Post by: DPony13 on December 21, 2012, 05:26:15 PM Ok. thank you Danny.
Clears up a lot indeed :P |