Missing Bitcoins

[emirkalyoncu]

Im pretty sure everone heard about the missing bitcoins and unaccessible wallets which has huge amount of bitcoins.There is a theory that the supply of bitcoin is not real(because of unaccsesible wallets)  and when the real amount of bitcoins revealed that is the time the real price of bitcoins will be there.What do you guys think about it or is it possible to detect unaccessible amount of bitcoin.I thought that maybe a fork would be useful to do that.

I don't know how you came to an idea that forking would help in this issue? It is not possible to detect which one is unaccessible.
But if given the ability to know the real circulating supply of bitcoin, I am expecting a certain price rise.

Also I have an idea.Fork happens with a condition like you will get 1:1 the new coin only if your bitcoins are in a whole new wallet system.So anyone who sends the bitcoins to the new wallet they can have the new bitcoin but if you cant they would be old trash bitcoin

This will somehow help but there are also people holding bitcoins that are not aware of this fork. I mean, we are not sure that all holders will get this information. Also, there are those who just don't care if a fork like this occurs. I think that's the reality. But still, you have a good point. As of now, all we can do is believe on the estimates from, say, Chainalysis.

I got something about it.I dont know if it is possible but it should be like this when ever you send your old btc you recieve new bitcoins and the old ones are burned after the change.But im tellin again I dont know if it is possible.Also I want to mention that I enjoyed the conversation with you.Thank you

[juiceannabel]

i dont think missing is the right word.
I think it is frozen. If you loss your p.key, it cannot be accessed.
Same with other crypto

[emirkalyoncu]

i dont think missing is the right word.
I think it is frozen. If you loss your p.key, it cannot be accessed.
Same with other crypto

I hope you got the real point

[overthetop2011]

Remain the "Lost" coins lost, because   it is the game how it works.

Personally, I think the amount of the lost coins would keep growing.

[emirkalyoncu]

Remain the "Lost" coins lost, because   it is the game how it works.

Personally, I think the amount of the lost coins would keep growing.

There is no reason not to grow also people love losing some as the people are sending bitcoins to genesis of bitcoin which is satoshi's wallet.They wont be recovered
https://blockchain.info/tr/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa There are 66.75 bitcoins I wish I had them all

[CutoutIsTaken]

I don't think the missing bitcoins are a super big issue beyond making calculated market caps inaccurate. I suppose what I'm saying is the real issue is that we don't know how many coins are actually missing. If we knew for sure, it wouldn't be a big issue.

[YzzyGo]

First thing is, how can you say that a wallet is inaccessible? Even if it's sitting there for 5 years, you can't just say that it is inaccessible since the owner might just be holding on to it or has forgotten about it but still has the passphrase. You cannot deny them fork coins just because they forgot and their coins became inactive. Per study, the "lost" coins are just estimated based on activity. So i'm not so sure we can rely on these 100%.

[tlkchain]

Im pretty sure everone heard about the missing bitcoins and unaccessible wallets which has huge amount of bitcoins.There is a theory that the supply of bitcoin is not real(because of unaccsesible wallets)  and when the real amount of bitcoins revealed that is the time the real price of bitcoins will be there.What do you guys think about it or is it possible to detect unaccessible amount of bitcoin.I thought that maybe a fork would be useful to do that.

I don't know how you came to an idea that forking would help in this issue? It is not possible to detect which one is unaccessible.
But if given the ability to know the real circulating supply of bitcoin, I am expecting a certain price rise.

Also I have an idea.Fork happens with a condition like you will get 1:1 the new coin only if your bitcoins are in a whole new wallet system.So anyone who sends the bitcoins to the new wallet they can have the new bitcoin but if you cant they would be old trash bitcoin

This will somehow help but there are also people holding bitcoins that are not aware of this fork. I mean, we are not sure that all holders will get this information. Also, there are those who just don't care if a fork like this occurs. I think that's the reality. But still, you have a good point. As of now, all we can do is believe on the estimates from, say, Chainalysis.

I got something about it.I dont know if it is possible but it should be like this when ever you send your old btc you recieve new bitcoins and the old ones are burned after the change.But im tellin again I dont know if it is possible.Also I want to mention that I enjoyed the conversation with you.Thank you

Bitcoin's final outcome may be completely disappear, or will become a collection of souvenirs in the hands of some people.

[slyfox]

Im pretty sure everone heard about the missing bitcoins and unaccessible wallets which has huge amount of bitcoins.There is a theory that the supply of bitcoin is not real(because of unaccsesible wallets)  and when the real amount of bitcoins revealed that is the time the real price of bitcoins will be there.What do you guys think about it or is it possible to detect unaccessible amount of bitcoin.I thought that maybe a fork would be useful to do that.

Lost coins are lost coins and nothing more, this diminishes the supply of bitcoin but at the same time increases the value of the rest of the coins this is what satoshi thought about those coins and I do not see any reason to change this since there is not a difference between lost coins and coins that are not moving because their owners have them in cold storage.

[emirkalyoncu]

First thing is, how can you say that a wallet is inaccessible? Even if it's sitting there for 5 years, you can't just say that it is inaccessible since the owner might just be holding on to it or has forgotten about it but still has the passphrase. You cannot deny them fork coins just because they forgot and their coins became inactive. Per study, the "lost" coins are just estimated based on activity. So i'm not so sure we can rely on these 100%.

Im not sure if it is possible but it should be like you can fork your bitcoin whenever you want.I mean they can fork their coin when they want to so they can do it whenever they are aware of the fork

[samcun]

alhamdulillah until now i have not lost BITCOIN, maybe if i lost my bitcoin very very sad. It is also because of the person's own fault due to carelessness, personal keys in theft and so on.

[btcCoincart]

No doubt!
Btc is on the way to gain the real value, people now are so FOMO, they afraid they miss everything! That's why btc go up so far!

[Visin]

No doubt!
Btc is on the way to gain the real value, people now are so FOMO, they afraid they miss everything! That's why btc go up so far!

The price is real, there is only a small portion of people that want Bitcoin to get a higher price. That's why they are holding it.

[kashwin663]

Im pretty sure everone heard about the missing bitcoins and unaccessible wallets which has huge amount of bitcoins.There is a theory that the supply of bitcoin is not real(because of unaccsesible wallets)  and when the real amount of bitcoins revealed that is the time the real price of bitcoins will be there.What do you guys think about it or is it possible to detect unaccessible amount of bitcoin.I thought that maybe a fork would be useful to do that.

Everything is open source, you can look through the code and the explorer if you want to dig through things.

OK but what do you think about this issue should it be taken care of or you are just fine with this

There's actually no way to tell.The reason is that there's no marker to differentiate between coin to which the private keys are lost or missing or coin that are in someone's long term storage.

[imoet]

I think fork is not the way to know the amount of bitcoin supply, because it's just for fixing the system, and if you want to know the bitcoin supply, you can dig it with algorithm code and you'll find out.

Yup..that true. Because the result will not really sure if depend on fork. I think we should not panic if there is missing coins. We can dig it deeply without feeling worry because I think they are not missing but just inactive.