Bitcoin Forum

Imagine to yourself how many wallet with astronomic sums of bitcoin people lost or lost because they didnt give a fuck when bitcoin was tiny.
and those wallets..will  never get acceesable

so what is your point exactly?
the topic of "how many bitcoins are lost" have been discussed multiple times. and that only means there is going to be even less bitcoin that is supposed to be. and the more they lose the more scarce bitcoin is going to be for us BitcoinHodlers.

lower supply + increasing demand = price to the moon

More importantly, as the supply decreases and the price rises, the amount of Bitcoin that people carelessly lose decreases as:

-They're holding less because the value is higher
-They're more careful with large amounts because the value is higher

Since Bitcoin is very divisible, it would never be a problem, except for the people who have lost thousands of Bitcoin already.

It also raises the amount of minimum demand that will always exist, since those coins can never be spent.

A lot of us have either been in the position to have lost coins in this way or know someone who has. It sucks. The story of a friend with an old computer once used to mine bitcoin that still has a balance but the private keys have been lost, etc. It's awful!

what is this?you want found btc adress lost it ?

I read somewhere that the estimated coin lost is about 30-40%, but there is not mean to know the exact number. However, this will not affect how bitcoin works, since many people are actually holding the coins until moon.

Satoshi once said that we should be thankful for the lost coins since it just adds up to the scarcity of bitcoin which makes it more valuable compared to what it is when we have a complete 21 million of coins. Basics of economics, supply and demand: the less supply there is, theoretically it can't suffice the demand which makes it more valuable.

I prefer to imagine the price of bitcoin to reach 100K USD/BTC rather than those forever lost wallets with btc since it would greatly waste my time doing so. However, I thank them because they add scarcity for bitcoin.  ;D


If that would be the case, then let's dump a portion of our btc so that we can increase the value of the remaining btc in our possession. Or even better, I would rather thank people who would give me their btc instead of losing them and be gone forever.

My theory is that Satoshi himself tested Bitcoin in the beginning ...without really worrying about the "lost" coins. I think, even he did not figure

that these coins might become this expensive in the future. Many of those millions of coins might even be part of those "lost" coins. It might sound

absurd, but I think this is one of the reasons why these coins are still untouched.  ;)

Somebody's lost is somebody's gain. Well its their fault really because they didn't care about their bitcoin. And we can read countless stories like that online. They can just bang their heads off and nothing will bring them back what they have lost. And it turn, its our gain, because what other's have mentioned, it add to the scarcity of bitcoin which will result in a higher price in the market. So its a gain for us.

OP can't speak English.   Starts ridiculous topic that no one can understand.   Seems to be a trend on this forum, doesn't it?

So glad there's an "ignore" button feature here.  I can't seem to block these people fast enough.

Well, it s obvious by now 21 million s not going to be max BTC supply, probably around 1 million will be lost in the process.

I m sure each of us s got some old online of offline wallet with some dust in it which will never get accessed again.

It will be lost they called it lost your bitcoin lost if no one knows your password or security pass and no one can process that bitcoin but if you still have access in that wallet your reach in this days because the price already increase rapidly.

The thing is, that only a 1-2 million bitcoin was mined at the time when bitcoin was sub-100. From 20-100, there was a lot of hype and excitement, so I doubt that much bitcoin was lost. Since it was also so new, there wasn't much malware related to bitcoin at the time.

At most, only a couple of tens of thousands of bitcoin would be lost. It's the nature of bitcoin for the user to be responsible for their money, so if someone loses them, it's totally their fault.

I agree with you that, somebody's lost somebody's gain, and we are the gainer, who uses bitcoin now.
I guess we need to thank them because there will be no chance that the bitcoin going to be in a very low price like cents per bitcoin, so it is impossible now that the bitcoin will crash into nothing value.
And yes Op, those lost wallets or old wallets are not accessible and impossible to get again by others

Yea, good for you. I always smile when I see people doing this and think to myself why they think they might be superior to other people, when

their grammar and spelling is flawless. Some of these people are new to Bitcoin and need our help... even if the grammar and spelling is not

100% correct. I can speak 4 languages and write 3 and English is not my first language, but I still seem to be capable to carry a conversation.

You might just miss out on some cool conversations and funny moments when you simply dismiss people who struggle with your language.  ;)

I enjoy people, no matter what language they speak... it is more about what they are saying and not how they are saying it.  ;)

I agree with most users here on the topic. If these addresses don't get accessed anymore, this means those will be forever lost and we can't do anything about it. Then the good thing about it that the price will skyrocket since the supply really is quite lower than intended but the demand will go up.

True. Even I, although I started with bitcoin only 2 years ago, lost several wallets with dust in them. The biggest loss was a wallet with almost 700k satoshis which is not exactly a dust nowadays. Although all the other ones were with not more than 20k sats I imagine how much BTC was lost if every bitcoin user has a similar story.

Yes, people have lost many wallets with a good number of bitcoins in it with some silly and great mistakes but at some points, we can understand it but I am afraid of those who throw away their bitcoins intentionally.

Destroying Bitcoin is NOT Acceptable (https://bitcointalk.org/index.php?topic=1592308.0).

The number of total loss is unaccountable as it is near to impossible to find such number.

I don't need to imagine i can check that on blockchain since all transactions are registered in public since start of bitcoin.
You need only to check addressed which coins don't move since around half of 2010 for example.

It seems to me that those who lost Bitcoin in those years tried or even could have returned access to their wallet. Because to restore access to today is not a big deal because all the data are assigned to a real person, so I do not think this is a problem. But to trace all operational data on financial operations. And this is certainly possible.

It is not possible to restore your coins if you are not having the private keys and the coins lost are lost forever ,tracing the coins does not get you to the coins and it is not possible to remember the wallet address in the first place if you are away for a long time.So be careful when you are dealing with crypto currency because if you forget to take back ups it is a waste of your time and resources.

Satoshi himself lost access to his wallets.  He's gone underground in embarrassment.

From where did you hear this news  :D It is possible that he lost access to his wallets but looking back at the genius of the inventor it is highly unlikely that he wont be making a hard back up of everything because he knows what he has made and unless and until he destroys those private keys on purpose he wont be losing because of negligence .

I think he knows how to recover even i think he is not holding the private key of his own wallet. since he is the creator of bitcoin i think he is holding a secret to get his own bitcoin or anytime i think he can make his own bitcoin without mining it..

Yes low supply and high demand is good for bitcoin and its holders and if someone forget their wallet is also beneficial for holders but I do not think that it will be good for the bitcoin team/technology as they have their calculated amount of bitcoin and that amount is devised very intelligently so if there will be difference in that amount then I think it will disturb the technology.

There's a chance that most of those wallets don't have all that much stuck inside them right now, maybe in the ballpark of a few millions of dollars lost but I find it unlikely that there is much else inside of them since a ton of people would do a lot to get their stuff back.
As mentioned before though, those instances are good because they reduce the supply without changing the demand. That's a good thing in business, since prices go up.

No not possible.  I've have looked at the source code for this possiblity  ;D