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1  Other / Beginners & Help / Re: Lost Bitcoins on: August 17, 2022, 04:49:32 AM
They way I understand it is that when information (any worded message) is made into a hash (a string of numbers and letters) that information can be included in a block. The message can be what I suggested in my post.
It's still need an insurance company right? Which person or group are want to build an insurance company for lost Bitcoin issue? and how they make sure the person isn't a liar? I can act like a victim is I have an address worth of million, but I lost my private key. How do I prove myself? there's no way except sign a message and of course I need the private key.

Didn't expect to hear from trolls but I guess I expected too much. The responses I received (some of them) cause me to believe that the responders don't understand the btc blockchain as much as they think they do and or they didn't understand what I suggested. \
If you think those people who disagree with you are trolls, then you should grow your skin thicker and explain how the way your idea should be implemented. It would be better if you're also open a topic or discussion on more technical places [1] [2]

This is what Satoshi say about lost Bitcoin.

Lost coins only make everyone else's coins worth slightly more.  Think of it as a donation to everyone.


[1] https://github.com/bitcoin
[2] https://bitcoin.stackexchange.com/
This is why you get a surety bond. You need to know how that works. If the transaction( the address) can not be traced back to an email address, an ip address or anything else that can connect it to the person making the claim then clearly the insurance company would not issue that person a surety bond. By the way, a company can be created to do all this, it doesn't have to be an existing insrance co.
2  Other / Beginners & Help / Re: Lost Bitcoins on: August 17, 2022, 04:39:32 AM
Any and all bitcoins that have been lost are still associated with an address. If I am correct the errant transaction can still be found on the blockchain as all transactions are stored forever. All transaction ever made can still be seen! New information is constantly being added to the blockchain. New information can be added pertaining to addresses that sent btc to nowhere and was lost. People put information in blocks that have nothing to do with value being transfered. The Genesis block contains a message about a news article. Think tank, bouncing around an idea. I'm just saying...  
3  Other / Beginners & Help / Re: Lost Bitcoins on: August 17, 2022, 03:28:30 AM
Can you elaborate this implementation?

You probably shouldn't expect any elaboration from this guy since he just inserted his CashApp address at the end of his post - obviously he wants a commission in return for this information.

I may not know as much about bitcoin as many of the people here and I'm fine with that. I do feel as though I'm just as eager as anyone alive to see bitcoin change the world of finance. I've been reading books on the topic such as the one I'm currently reading (The Age of Cryptocurrency) and taking in as much information as I possibly can. I expressed a thought and wanted to hear some intelligent feed back. Didn't expect to hear from trolls but I guess I expected too much. The responses I received (some of them) cause me to believe that the responders don't understand the btc blockchain as much as they think they do and or they didn't understand what I suggested. In any event I definitely want to give anyone who I may be of assistance to the opportunity to show gratitude. I live to help others. I am a giver and I just want to help others if I can.



No worries, this is your first post and seems you aren't much aware of how Bitcoin works. So it's preferable to spend more time here reading about Bitcoin and other cryptocurrencies. This kind of post from a newbie is normal. Cryptocurrency is irreversible due to decentralized behavior. It's not fiat like PayPal you can dispute, then it won't call decentralized ever.
A level headed thinker, great. Thanks for your patience. Believe it or not I actually do have some understanding of how btc and the blockchain work which is how that idea can to my mind. Unfortunately I haven't had the luxury as of yet to speak with people who are well versed on the matter. I was not suggesting that a transaction be reversed. I didn't suggest that someone should dispute a transaction. I wonder if anybody who read the post actually gave it any real thought because if they did it seems as though their responses would have been different, clearer as to why what I suggested is so far from being reasonable. Again, I want to thank you for being rational with your response. And I do hope to hear from someone who understands what I purposed and who can be clear as to why it can't be done. Peace.



@OP,  like @nc50lc clearly pointed,  you can not compare a centralized system to a decentralized system, they are two different world apart from each other,  and you can't bring in centralized way of doing things into a decentralized system and expect it to work, it clearly won't work as long as the rule of decentralization is upheld continually.

Once all this is done the bitcoin developers can credit the possesser of the public address with a new private address issued in a hash that says they possess the amount of bitcoins that was lost. This can work and should be implemented asap. $Rasul11@cashapp
Unfortunately,  this can not work,  my above quick and simple explanation of centralized and decentralized system should tell already you this and why,  bitcoin developers,  chain analysis,  not even satoshi himself have access to lost Bitcoins,  so the only way currently known by which lost Bitcoins can be recovered is to find the private keys that control the block and the bitcoins in question.
  Access to bitcoins? Thank you for your response. Thank you for being kind. It is possible that I was not able to clearly convey the idea that I shared. They way I understand it is that when information (any worded message) is made into a hash (a string of numbers and letters) that information can be included in a block. The message can be what I suggested in my post. Nothing would be reversed, nothing would be altered. The message would simply allow what was dormant to become active again. This may not be what developers decide to do but it would be good for the life of btc and the blockchain.



Once all this is done the bitcoin developers can credit the possesser of the public address with a new private address issued in a hash that says they possess the amount of bitcoins that was lost. This can work and should be implemented asap.

Sorry, but such claim only shows that you have 0 understanding on how bitcoin works.
And no, this is not how Bitcoin works and no matter what the devs do, no matter how much would they want to have this done, this cannot be implemented (or, more exactly, even if implemented, will never go live)
No, I do have a level of understanding on how btc works and how a hash is created. Am I new to all this? Yes I am. Do I think that you gave what I said enough thought before you responded? I do not. No worries, it often takes years for good ideas to be taken seriously. Sort of how it took years for btc to be taken seriously. Satoshis first post was not taken seriously. Peace

[moderator's note: consecutive posts merged]
4  Other / Beginners & Help / Lost Bitcoins on: August 15, 2022, 11:53:08 PM
I am convinced that I have discovered a way for people who sent bitcoins to nonexistent addresses to have those bitcoins returned to them. Back in 1999 I acquired an old Volvo from a family member. The family member had lost the signed title to the vehicle and was unable to locate the person who they purchased the vehicle from. I learned that I could get a title for the vehicle in my name by purchasing a surety bond. I wrote a paper declaring that I was the possesser and rightful owner which I signed and had notorized at a currency exchange. I took that to the insurance company and paid them $500.00. They provided me with documentation that said they would be liable for any future claims made by another person who could prove to be the rightful owner of the vehicle. In any event the car from then on was legally mine as the state of Illinois verified by issuing me a title to the vehicle. I am convinced that the same can be done in the case of lost bitcoins. Chain analysis can search for the address (the person claiming lost bitcoins has to provide the address) and the errant transfer. An insurer (an insurance company may have to be created for this purpose) can, for a fee, insure the claimant in the event that someone else claims to be the rightful owner of those bitcoins. Once all this is done the bitcoin developers can credit the possesser of the public address with a new private address issued in a hash that says they possess the amount of bitcoins that was lost. This can work and should be implemented asap. $Rasul11@cashapp
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