Bitcoin Forum

i am curiously that if some lost his bitcoin wallet than what will happen with btc that are in the lost wallet .

When a user loses his wallet, it has the effect of
removing money out of circulation. Lost bitcoins still
remain in the block chain just like any other bitcoins.
However, lost bitcoins remain dormant forever because
there is no way for anybody to find the private key/keys
that would allow them to be spent again. Because of the
law of supply and demand, when fewer bitcoins are
available, the ones that are left will be in higher demand
and increase in value to compensate.

it depends on where you save it, if so you've lost your wallet of course BTC will also disappear as well. ;)

i don't think that after lost your bitcoin wallet there is something or any system that can use your btc . in my opinion your bitcoins remain in blockchain system but neither you can use nor blockchain system .

If someone lost the private keys then It's impossible to recover them which means no one will have access to those coins . And since Bitcoin price is based on supply-demand "Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone" Satoshi Nakamoto.

If you lose your private keys (and the bitcoins on them) it is over, 0 chance to recover.

Although you are right for most cases, I lost 1 mBTC once and was able to bruteforce it back because it was located on an address which was constructed by an algorithm.
It's comparable with HD wallets which generates all future addresses based on a seed. As long as you know the seed you are able to recover all the coins.

To be more accurate, you lose the rights to spend coins i.e. you lose the private key.
The coins aren't lost. However, nobody will be able to move them.

This makes me wonder about twenty years from, and all the people with Bitcoin who died. Unless they told someone who they can trust and gave them their password, it will all be gone.

Isn't it fantastic!

Many may be hanging with Hal Finney at Alcor, so the coins may only be gone temporarily.

Well, as long as you know the algorithm (and it isn't too complex), then you never really lost it, did you?  You just had to put some effort into retrieving it.

 ;D

How do you brute force your coins back?

It's impossible to brute force private keys of course but If you got the wallet.dat and you have an idea about your password then It could be possible to crack using some tools. See here https://bitcointalk.org/index.php?topic=85495.msg942171#msg942171 and here https://github.com/glv2/bruteforce-wallet

Since https://github.com/gurnec/btcrecover and https://github.com/magnumripper/JohnTheRipper could not do what I wanted I learned some python and made a script myself.
I still knew which algorithm I used to construct the private key so I just had to check al 70 million possibilities ;)
My script was slow in the beginning, a whopping 7 keys/second/core! But I managed to speed it up to 2000 keys/second/core using stuff from https://github.com/weex/addrgen.
With this speed I was able to retrieve my mBTC within a day. Hooray.
After that I let it run to see if others were as stupid as me.
There was. One. A used address with some similar construction to create the private key. There had only be 7 mBTC stored on that key, but another scriptkiddy probably took the money before me so that I didn't have to think what to do with it because it was an empty address again.

No way it was financially profitable to let the script run but I learnt a lot during the process.

Its gone for the owner but will remain in the wallet. The same feeling with a unbreakable safe and you lost the key.

When bitcoins are lost many people would get bankrupt.
Some people would gets lose btc if this will happen in the future.
Some would also gets depressed because of lost where to
have an extra income.

Also once I had the same question and I found answer which isn't good.
It’s extremely improbable, and impossible to recover lost coins. This is what the security of Bitcoin is actually based on. If you’ve lost your private key, the system is so secure that you may not be able to recover it.

Imagine that you have paper money and lost it or burned, what will happen? nothing, so the situation is same about bitcoin.

what kind of lost ou are talking, Bitcoins will not be lost. In the area of all Bitcoins Blockchain. Thinking that would otherwise be lost under a single owner has its own Bitcoins mannipualtion do with a special switch. If the private key password for the wallet is no longer the owner of the owner is sad

If they are lost as in you lose the private key to the wallet then the bitcoin will stay at that address forever, no one else can ever use them or get access to them.

If bitcoins are lost, than it means no one has the access to the wallet that owns the bitcoins.

So no one will ever be able to recover the funds that are lost in the wallet.

When funds are getting lost, it is like a donation to the whole bitcoin community, because there are less bitcoins in circulation, which always make the price go higher.

As you can see from another posts Bitcoins can`t be lost. All Bitcoins are in the Blockchain forewer. The only think which can be lost is a Private key which grant owner mannipualtion with Bitcoins he owns. If Private key is lost (lost password for wallet) then owner is not owner anymore  :(

So Funds stay on a Wallet and dont move again or make Fees for the Bitcoin Community... It the same as you burn a 100$ Note there will be no reward for anyone...

If someone found your Key they can access again so its not the same like burning but this change is very small :P

When bitcoins were lost in a wallet/an address, Nothing will happen and funds will be there forever until someone had a random chance of getting that lost wallet.

Well, It's gone. That's it. Nobody can do anything about it. It will be locked down and you can see the bitcoin in the wallet, but you will not be able to do anything with them.

There are options to brute force the wallet,but the private key should be made from phrases that can be easily recollected. Right now, people make addresses with the help of random mouse movements which is very hard to crack. 

Brain wallets and other similar wallets are very easy to crack due to the thinking of the human brain and the weak passphrase. Using a weak passphrase or using passphrase at all to generate addresses would just result in an overall decrease in security and wouldn't do the owner any good if it gets cracked.

Most wallets actually uses the computer's RNG to generate the address with bitaddress.org actually using the mouse movement. This is the ideal method of generation, not passphrase.

its true and many people will lost their bitcoin and its very sad because for now, the price is really promising and its look to go up more than before so if bitcoin is lost, then the price will drop into bottom.

and if its really happen so there are no future for bitcoin and we can make money again like before.

It is like burning money - You can't get it back!

What difference does it make? Burned bitcoins are unspendable forever. So what if they are visible in the blockchain?

When bitcoins are destroyed apart from you losing money you are raising (very slightly) the value of the remaining bitcoins by reducing the number of spendable ones.
I doubt that anyone will be using this method on purpose on a large scale though.

First your bitcoin is your reponsibility if you lose bitcoin in your wallet without sending it then someone sabotage you. We'll no one can really lose bitcoin when you are sending it and i think somehack hacked you and be careful when you are logging in someones computer.

Simple answer, of course your bitcoin will be lost also. Come think of it. If the bitcoin wallet you are into is lost. How can you transfer or cashout your bitcoin right? It is just like a stolen wallet of thief. If the thief stole your wallet, you are no longer have  access to your money and etc... So make sure to always withdraw your bitcoins from online wallets from time to time as it can close at any moment. If its just technical errors. You may contact their admins to assess you from claiming back your lost bitcoins.

This makes me wonder about twenty years from, and all the people with Bitcoin who died. Unless they told someone who they can trust and gave them their password, it will all be gone.

That's one interesting difference between btc and cash. If you lose your cash money someone will use them for sure:)) btc are left for death:)