uki
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cryptojunk bag holder
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April 07, 2015, 10:22:26 AM |
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If there is no PoS for Bitcoin, why should people at all have an incentive to open their wallets? These coins are probably safely stored, but definitely not lost. |
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Muhammed Zakir
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April 07, 2015, 12:10:50 PM |
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If there is no PoS for Bitcoin, why should people at all have an incentive to open their wallets?
These coins are probably safely stored, but definitely not lost.
Definitely? What if the private key was lost? What if the owner is no more? What if owner can not access it anymore? Many Bitcoins have lost especially the ones in Bitcoin blackhole.* * Bitcoin blackhole are addresses which don't have private key. "Blockhole" obviously is named by us. |
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AtheistAKASaneBrain
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April 07, 2015, 03:07:51 PM |
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how many of currently mined bitcoins are lost forever?
It's impossible to know with certainty the number of lost coins... but assuming tons of coins were lost specially at the beginning when it was worthless and wallets with thousands of coins got lost... well a lot of it. Who knows, maybe by 2140 when everything is mined, 50% of coins already got lost forever. |
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Lauda
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Terminated.
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April 07, 2015, 05:45:33 PM |
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if the 30% of bitcoin lost is true then the price, should not go even below 1k, but we are at 200, the price is more related to interest(you can call this adoption) of people in bitcoin than its supply
You have no idea what you're talking about. Read Economics 101 for newbies: http://www.whatiseconomics.org/economics-101I'm not even gonna bother to tell you and provide links to why you're wrong on so many levels. You should rather do it yourself this time instead of making a crazy amount of posts a day. If there is no PoS for Bitcoin, why should people at all have an incentive to open their wallets?
These coins are probably safely stored, but definitely not lost.
Definitely? What if the private key was lost? What if the owner is no more? What if owner can not access it anymore? Many Bitcoins have lost especially the ones in Bitcoin blackhole.* * Bitcoin blackhole are addresses which don't have private key. "Blockhole" obviously is named by us. definitely
without doubt (used for emphasis).
in a definite manner; clearly.
I'm actually hoping that he used the wrong word in this case. Because definitely does not fit into that sentence at all. We can't know if the coins are or aren't lost. We can know if someone publicly says that they've lost access to address X or their HDD died with address Y etc. Bitcoin is divisible, so even if we lost 80% of the supply it still could be used. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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Amph
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April 07, 2015, 07:43:29 PM |
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if the 30% of bitcoin lost is true then the price, should not go even below 1k, but we are at 200, the price is more related to interest(you can call this adoption) of people in bitcoin than its supply
You have no idea what you're talking about. Read Economics 101 for newbies: http://www.whatiseconomics.org/economics-101I'm not even gonna bother to tell you and provide links to why you're wrong on so many levels. You should rather do it yourself this time instead of making a crazy amount of posts a day. i don't need to read that link, the price speak for itself, the interest(average people interest, not rich guy, talking about the majority of people in the world) is important at least like the supply, supply isn't everything, just because a things is scarse doesn't mean it will be worth more in the future p.s. i'm making tons of posts a day, because i have all the day free |
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GreenStox
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Undeads.com - P2E Runner Game
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April 07, 2015, 08:04:34 PM |
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if the 30% of bitcoin lost is true then the price, should not go even below 1k, but we are at 200, the price is more related to interest(you can call this adoption) of people in bitcoin than its supply
You have no idea what you're talking about. Read Economics 101 for newbies: http://www.whatiseconomics.org/economics-101I'm not even gonna bother to tell you and provide links to why you're wrong on so many levels. You should rather do it yourself this time instead of making a crazy amount of posts a day. i don't need to read that link, the price speak for itself, the interest(average people interest, not rich guy, talking about the majority of people in the world) is important at least like the supply, supply isn't everything, just because a things is scarse doesn't mean it will be worth more in the future p.s. i'm making tons of posts a day, because i have all the day free Yes but we are not talking about ordinary things. Yes some things fade away as the trend falls but bitcoin is in its genesis right now, this technology is so new, and bitcoin itself as a payment system, that people will want it. Of course not now, but once they awaken that card dealers are thieves charge 4% comission, and bank transfer 10% comission really? As of bitcoin is only 0.0001 BTC (<1 cent) So eventually the more time will pass the more interested people will be. And many card dealers will go bankrupt soon. |
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Lauda
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April 07, 2015, 08:11:58 PM |
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i don't need to read that link, the price speak for itself, the interest(average people interest, not rich guy, talking about the majority of people in the world) is important at least like the supply, supply isn't everything, just because a things is scarse doesn't mean it will be worth more in the future
p.s. i'm making tons of posts a day, because i have all the day free
I'm actually not surprised that you think that you know what you're talking about without any visible knowledge. Sure, don't educate yourself. You don't need to read, learn, stay ignorant. How about we start pulling more facts and bold statements out of magical hats? Yes, this seems to be the case. Your posts are often rather very contributing. I don't think that the current generation should worry about the supply after 2100. We will most likely not live to see the day. Besides, we have more important things to work on right now. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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Amph
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April 07, 2015, 08:12:50 PM
Last edit: April 08, 2015, 06:17:07 AM by Amph |
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if the 30% of bitcoin lost is true then the price, should not go even below 1k, but we are at 200, the price is more related to interest(you can call this adoption) of people in bitcoin than its supply
You have no idea what you're talking about. Read Economics 101 for newbies: http://www.whatiseconomics.org/economics-101I'm not even gonna bother to tell you and provide links to why you're wrong on so many levels. You should rather do it yourself this time instead of making a crazy amount of posts a day. i don't need to read that link, the price speak for itself, the interest(average people interest, not rich guy, talking about the majority of people in the world) is important at least like the supply, supply isn't everything, just because a things is scarse doesn't mean it will be worth more in the future p.s. i'm making tons of posts a day, because i have all the day free Yes but we are not talking about ordinary things. Yes some things fade away as the trend falls but bitcoin is in its genesis right now, this technology is so new, and bitcoin itself as a payment system, that people will want it. Of course not now, but once they awaken that card dealers are thieves charge 4% comission, and bank transfer 10% comission really? As of bitcoin is only 0.0001 BTC (<1 cent) So eventually the more time will pass the more interested people will be. And many card dealers will go bankrupt soon. well yes but this is just a possibility, there is no guarantee that the interest for bitcoin will grow with time, because there are chances that bitcoin will die before reaching that status, or the interest of people shift to another better currency, while bitcoin even with its 21M mined, will remain at $200 dollars price the interest of people is unstable as bitcoin, you know... i don't need to read that link, the price speak for itself, the interest(average people interest, not rich guy, talking about the majority of people in the world) is important at least like the supply, supply isn't everything, just because a things is scarse doesn't mean it will be worth more in the future
p.s. i'm making tons of posts a day, because i have all the day free
I'm actually not surprised that you think that you know what you're talking about without any visible knowledge. Sure, don't educate yourself. You don't need to read, learn, stay ignorant. How about we start pulling more facts and bold statements out of magical hats? Yes, this seems to be the case. Your posts are often rather very contributing. I don't think that the current generation should worry about the supply after 2100. We will most likely not live to see the day. Besides, we have more important things to work on right now. there is nothing to be educate by reading that link, it's a simple fact, you can't take into account only the supply, there are many other variables that influence the price |
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crazyearner
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April 07, 2015, 08:50:17 PM |
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Is hard to say how much is lost due to people mining in early days and never spending and then throwing their wallets away as maybe thought mehh worthless coins. Is like plenty of stories I have come across with lost wallets or hard drives some recovered but others lots out on. Id say mabe 10 to 15% or more is lost due to wallets being lost or never given thoguht when getting a holed of them when first started out.
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Lauda
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Terminated.
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April 08, 2015, 11:59:37 AM |
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He should have learned more about it. There blackholes are interesting. How did you find about them? We definitely can't reach 21 million. Even fiat gets destroyed. Bitcoin can be easily sent to the wrong address, wallets lost, passwords forgotten and such. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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GreenStox
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Undeads.com - P2E Runner Game
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April 08, 2015, 10:35:00 PM |
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if the 30% of bitcoin lost is true then the price, should not go even below 1k, but we are at 200, the price is more related to interest(you can call this adoption) of people in bitcoin than its supply
You have no idea what you're talking about. Read Economics 101 for newbies: http://www.whatiseconomics.org/economics-101I'm not even gonna bother to tell you and provide links to why you're wrong on so many levels. You should rather do it yourself this time instead of making a crazy amount of posts a day. i don't need to read that link, the price speak for itself, the interest(average people interest, not rich guy, talking about the majority of people in the world) is important at least like the supply, supply isn't everything, just because a things is scarse doesn't mean it will be worth more in the future p.s. i'm making tons of posts a day, because i have all the day free Yes but we are not talking about ordinary things. Yes some things fade away as the trend falls but bitcoin is in its genesis right now, this technology is so new, and bitcoin itself as a payment system, that people will want it. Of course not now, but once they awaken that card dealers are thieves charge 4% comission, and bank transfer 10% comission really? As of bitcoin is only 0.0001 BTC (<1 cent) So eventually the more time will pass the more interested people will be. And many card dealers will go bankrupt soon. well yes but this is just a possibility, there is no guarantee that the interest for bitcoin will grow with time, because there are chances that bitcoin will die before reaching that status, or the interest of people shift to another better currency, while bitcoin even with its 21M mined, will remain at $200 dollars price the interest of people is unstable as bitcoin, you know... i don't need to read that link, the price speak for itself, the interest(average people interest, not rich guy, talking about the majority of people in the world) is important at least like the supply, supply isn't everything, just because a things is scarse doesn't mean it will be worth more in the future
p.s. i'm making tons of posts a day, because i have all the day free
I'm actually not surprised that you think that you know what you're talking about without any visible knowledge. Sure, don't educate yourself. You don't need to read, learn, stay ignorant. How about we start pulling more facts and bold statements out of magical hats? Yes, this seems to be the case. Your posts are often rather very contributing. I don't think that the current generation should worry about the supply after 2100. We will most likely not live to see the day. Besides, we have more important things to work on right now. there is nothing to be educate by reading that link, it's a simple fact, you can't take into account only the supply, there are many other variables that influence the price Thats simply not true. If the crypto currencies will survive, and they have no reason not to, govenrments cant shut down every one of them without exposing themselves and creating big controversy. Otherwise there is demand for it, global banking system sucks, so here is a healthy alternative. And until 1 crypto grows, it grows all cryptos, 1 shill-coin can advertise the whole industry by itself, and people will diversify, and since bitcoin is the 1st one it has a pretty good change of succeeding even if a better one comes along, unless some security flaws will be found , no reason why bitcoin would die. |
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Amph
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April 09, 2015, 01:29:15 PM |
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if the 30% of bitcoin lost is true then the price, should not go even below 1k, but we are at 200, the price is more related to interest(you can call this adoption) of people in bitcoin than its supply
You have no idea what you're talking about. Read Economics 101 for newbies: http://www.whatiseconomics.org/economics-101I'm not even gonna bother to tell you and provide links to why you're wrong on so many levels. You should rather do it yourself this time instead of making a crazy amount of posts a day. i don't need to read that link, the price speak for itself, the interest(average people interest, not rich guy, talking about the majority of people in the world) is important at least like the supply, supply isn't everything, just because a things is scarse doesn't mean it will be worth more in the future p.s. i'm making tons of posts a day, because i have all the day free Yes but we are not talking about ordinary things. Yes some things fade away as the trend falls but bitcoin is in its genesis right now, this technology is so new, and bitcoin itself as a payment system, that people will want it. Of course not now, but once they awaken that card dealers are thieves charge 4% comission, and bank transfer 10% comission really? As of bitcoin is only 0.0001 BTC (<1 cent) So eventually the more time will pass the more interested people will be. And many card dealers will go bankrupt soon. well yes but this is just a possibility, there is no guarantee that the interest for bitcoin will grow with time, because there are chances that bitcoin will die before reaching that status, or the interest of people shift to another better currency, while bitcoin even with its 21M mined, will remain at $200 dollars price the interest of people is unstable as bitcoin, you know... i don't need to read that link, the price speak for itself, the interest(average people interest, not rich guy, talking about the majority of people in the world) is important at least like the supply, supply isn't everything, just because a things is scarse doesn't mean it will be worth more in the future
p.s. i'm making tons of posts a day, because i have all the day free
I'm actually not surprised that you think that you know what you're talking about without any visible knowledge. Sure, don't educate yourself. You don't need to read, learn, stay ignorant. How about we start pulling more facts and bold statements out of magical hats? Yes, this seems to be the case. Your posts are often rather very contributing. I don't think that the current generation should worry about the supply after 2100. We will most likely not live to see the day. Besides, we have more important things to work on right now. there is nothing to be educate by reading that link, it's a simple fact, you can't take into account only the supply, there are many other variables that influence the price Thats simply not true. If the crypto currencies will survive, and they have no reason not to, govenrments cant shut down every one of them without exposing themselves and creating big controversy. Otherwise there is demand for it, global banking system sucks, so here is a healthy alternative. And until 1 crypto grows, it grows all cryptos, 1 shill-coin can advertise the whole industry by itself, and people will diversify, and since bitcoin is the 1st one it has a pretty good change of succeeding even if a better one comes along, unless some security flaws will be found , no reason why bitcoin would die. i'm not talking about crypto in general, but about bitcoin(the rest are just clone), you can't say for sure that in 10-20-30 years bitcoin will be still alive no matter what there is a chance even if it remotely(actually it isn't, at this point it's already at 25% dies, 75% survive or worse...)that bitcoin will not survive and you are wrong about shutting down many of those scam coins, even one miner with a good hash can shut down many of them, because they have so low diff that they can be 51%'d so easily it's not even funny government would not even bother to shut down those coin |
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GreenStox
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April 11, 2015, 11:37:56 PM |
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i'm not talking about crypto in general, but about bitcoin(the rest are just clone), you can't say for sure that in 10-20-30 years bitcoin will be still alive no matter what
there is a chance even if it remotely(actually it isn't, at this point it's already at 25% dies, 75% survive or worse...)that bitcoin will not survive
and you are wrong about shutting down many of those scam coins, even one miner with a good hash can shut down many of them, because they have so low diff that they can be 51%'d so easily it's not even funny
government would not even bother to shut down those coin
Well that would be just tyrrany. They are already putting their hands on the internet with all this net neutrality bullshit, so their powerhungy grap is now getting crazy. Besides if people tolerate tyrrany then they deserve it, a government will do whatever they want if nobody will stand up agains them. So it's up to the people to decide how much is enough. This is more than just bitcoin, this is about freedom in general. |
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Webnet
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DaDice! Next Generation Dice Game
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April 12, 2015, 04:56:16 AM |
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I think most of the early mined bitcoin might be lost as they have never been moved
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Amph
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April 12, 2015, 07:27:09 AM |
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I think most of the early mined bitcoin might be lost as they have never been moved
not necessarily, in the future we could fork bitcoin and adding something to restore those coins, i'm thinking what would happen in this case, the price will decrease because more coins will be accessible or it will remain the same/increase? and who will be the owner of those coins?(i'm theorizing that the original owner has no track anymore of his lost coins) |
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gentlemand
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Welt Am Draht
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April 12, 2015, 11:47:58 AM |
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not necessarily, in the future we could fork bitcoin and adding something to restore those coins, i'm thinking what would happen in this case, the price will decrease because more coins will be accessible or it will remain the same/increase? and who will be the owner of those coins?(i'm theorizing that the original owner has no track anymore of his lost coins)
I really hope that never happens. There's no way of telling whether coins are just parked. I wouldn't be best pleased if my coins suddenly disappeared from my grasp because a bunch of strangers decided they might be 'lost'. |
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Mr Moustache
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April 12, 2015, 11:52:00 AM |
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I think most of the early mined bitcoin might be lost as they have never been moved
not necessarily, in the future we could fork bitcoin and adding something to restore those coins, i'm thinking what would happen in this case, the price will decrease because more coins will be accessible or it will remain the same/increase? and who will be the owner of those coins?(i'm theorizing that the original owner has no track anymore of his lost coins) Why would they do this if it's even possible? It doesn't even matter whether the coins or lost or not but who is to say which coins are lost or just being saved? You can't or shouldn't be able to change something to get those coins back. It's theft and unnecessary. Besides, the less coins the more valuable they should become theoretically. |
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poordeveloper
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April 12, 2015, 06:58:24 PM |
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That no transactions are made not mean who are lost or "abandoned". Some people do not open their wallets for years, and do not think they will be open until the last Bitcoin be mined.
This is what I mentioned earlier. It is just hard to tell the difference between the two as they appear the same. I do think there i a high chance lots of CPU coins did get "lost" in one way or another. But it will always be a estimate no way you can tell for sure. Exact. Many people might consider them "savings" wallets, and as such it's reasonable that they don't have any TXs. |
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