cloud36649
Newbie
Offline
Activity: 35
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 30, 2015, 03:28:45 AM |
|
how many of currently mined bitcoins are lost forever?
It's a very interesting question, unfortunately it seems to be a very difficult thing to verify/determine with certainty. Because Bitcoin is divisible into much smaller units, I don't think that "lost Bitcoin" will really be at the forefront of Bitcoin-related issues any time soon.
|
|
|
|
funtotry
Sr. Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 420
Merit: 250
Ever wanted to run your own casino? PM me for info
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 30, 2015, 03:32:28 AM |
|
how many of currently mined bitcoins are lost forever?
In bitcoin nothing is lost "forever", given enough time its possible for one person to own every single bitcoin private key. The time it would take this with our current computing power is incomprehensible, but in maybe 1000 years we will have a computer being able to do this. In our lifetime the technology will definitely not be created but all bitcoins are not "lost forever".
|
|
|
|
kenbytes
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 30, 2015, 04:08:31 AM |
|
there is a post on the italian section of the forum in which all the movements of all the wallets since 2009, we have considered that the wallets with no input or out for more than 2 years are to be considered dead https://bitcointalk.org/index.php?topic=353156.120
|
|
|
|
Lauda
Legendary
Offline
Activity: 2674
Merit: 2965
Terminated.
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 30, 2015, 05:50:51 PM |
|
how many of currently mined bitcoins are lost forever?
In bitcoin nothing is lost "forever", given enough time its possible for one person to own every single bitcoin private key. The time it would take this with our current computing power is incomprehensible, but in maybe 1000 years we will have a computer being able to do this. In our lifetime the technology will definitely not be created but all bitcoins are not "lost forever". You're talking nonsense. Stop spreading false information. Even if we find a way to easily crack SHA-256 in 1000 years, do you think that by then we would still be using SHA-256? It would be easily increased by tenfold or replaced by something else entirely. Good luck trying to get a hold of someones private key. If this event occurs Bitcoin would quickly die, as all trust would be lost and the price would plummet. As for lost Bitcoins, we can't really say. The same thing happens with every currency. How do you know that the address that you're sending to isn't still owned by someone? There was a thread in which they've tried to estimate the loss by summing up known losses.
|
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion)
|
|
|
roadbits
Legendary
Offline
Activity: 1092
Merit: 1000
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 30, 2015, 08:48:39 PM |
|
I don't have a problem with some bitcoins being destroyed/lost because it makes mine more valuable in the long run.
|
|
|
|
GreenStox
Sr. Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 1148
Merit: 252
Undeads.com - P2E Runner Game
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 30, 2015, 09:01:33 PM |
|
how many of currently mined bitcoins are lost forever?
Well you know if normal currencies are lost, the CB will just print more, thus decreasing the value of lost coins to replace them with fresh circulating ones. In BTC all supply is fixed, or atleast ithas a hard cap. I would be interesting that after 1 million years only 1 bitcoin would be in circulation, because everyone else would have lost their private keys.And that 1 Bitcoin would be worth the entire Planet's money/wealth ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
|
|
|
|
sgk
Legendary
Offline
Activity: 1470
Merit: 1002
!! HODL !!
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 31, 2015, 06:28:06 AM |
|
Read an article once, author claimed up to 30% coins are lost forever.
Those 30% are not lost coins, but 'zombie' coins. NVIDIA engineer John Ratcliff calculated in June 2014 that “zombie coins”, defined as those which have lay dormant for at least a year and a half, accounted for 30 per cent of all Bitcoins. Those coins were bought for just a few cents, so the lack of profit-taking despite a return of 4,000 per cent seems to rule out the possibility that they're simply long-term savings. For more detailed analysis of 'disappeared' Bitcoins (lost coins, zombie coins, satoshi's coins, burnt coins etc.), read the full article here: http://www.telegraph.co.uk/technology/news/11362827/The-625m-lost-forever-the-phenomenon-of-disappearing-Bitcoins.html
|
|
|
|
MiningAtlas
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 31, 2015, 07:18:36 AM |
|
how many of currently mined bitcoins are lost forever?
Probably more than we think. makes you wonder though why didnt satoshi create bitcoin for it was mined forever hmmm.
|
|
|
|
BitBOOM
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 69
Merit: 10
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 31, 2015, 04:05:06 PM |
|
I would guess 4-8%
|
|
|
|
tspacepilot
Legendary
Offline
Activity: 1456
Merit: 1081
I may write code in exchange for bitcoins.
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 31, 2015, 04:07:00 PM |
|
how many of currently mined bitcoins are lost forever?
Another thing which often gets brought up in this context is that while currently bitcoins are only divided to 8 decimal places. In principle we can continue to subdivide existing bitcoins if for some reason, so many bitcoins get lost that 1 Satoshi is extremely valuable.
|
|
|
|
koelen3
Legendary
Offline
Activity: 1022
Merit: 1007
Sooner or later, a man who wears two faces forgets
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 31, 2015, 06:46:39 PM |
|
I never mined bitcoins, come to think of it,it really feels strange , have known BTC from quite some time now but still , well i wasn't into bitcoins much before
|
|
|
|
uki
Legendary
Offline
Activity: 1358
Merit: 1000
cryptojunk bag holder
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 31, 2015, 10:01:23 PM |
|
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.
exactly, that is the point. All these 'analysis' are forgetting to easily about this fact.
|
this space is intentionally left blank
|
|
|
bryant.coleman
Legendary
Offline
Activity: 3738
Merit: 1217
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 01, 2015, 02:52:01 AM |
|
Read an article once, author claimed up to 30% coins are lost forever.
That is quite possible. Some of the earliest miners just threw away their coins, or lost them because of negligence. However it is almost impossible to confirm this amount. Here is a thread which will help you with this: https://bitcointalk.org/index.php?topic=7253.0
|
|
|
|
toytoboy
Newbie
Offline
Activity: 14
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 01, 2015, 04:24:57 AM |
|
Read an article once, author claimed up to 30% coins are lost forever.
Why 30% lost forever ? Give out a reason to convince me !
|
|
|
|
Amph
Legendary
Offline
Activity: 3248
Merit: 1070
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 01, 2015, 07:12:59 AM |
|
30% seems a big number if it is based on the max supply, because it mean that 50% of current total coins in circulation is lost forever, personally i don't think so, it's an amount too big to be true
|
|
|
|
bryant.coleman
Legendary
Offline
Activity: 3738
Merit: 1217
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 01, 2015, 03:01:32 PM |
|
30% seems a big number if it is based on the max supply, because it mean that 50% of current total coins in circulation is lost forever, personally i don't think so, it's an amount too big to be true
It is unlikely, but not impossible. In 2009 and 2010, more than 5 million coins were mined. No one realized the real value of Bitcoin back then, and a lot of coins were lost as a result of negligence.
|
|
|
|
Wheelys
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 87
Merit: 10
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 05, 2015, 01:32:01 PM |
|
I would guess 5-10% is a realistic number, but next to impossible to verify.
|
|
|
|
GreenStox
Sr. Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 1148
Merit: 252
Undeads.com - P2E Runner Game
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 07, 2015, 07:35:34 AM |
|
What if Satoshi threw away his private keys where he held that many bitcoins, so that even if they get to him they cant steal his bitcoins?
Because if this is true, then the bitcoin price cant really go below 100$ cant it?
|
|
|
|
tspacepilot
Legendary
Offline
Activity: 1456
Merit: 1081
I may write code in exchange for bitcoins.
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 07, 2015, 08:21:37 AM |
|
What if Satoshi threw away his private keys where he held that many bitcoins, so that even if they get to him they cant steal his bitcoins?
Because if this is true, then the bitcoin price cant really go below 100$ cant it?
Unless people realize that he's not a hodler but a I-lost-my-keys-er. One person can't define a market. If it comes down to only Satoshi holding bitcoins, then the price will certainly be 0 (by definition: no one wants bitcoins but Satoshi, and he has them). So, I think markets can't really be reduced to such a simple example. But I guess it has some value as a thought experiment.
|
|
|
|
Amph
Legendary
Offline
Activity: 3248
Merit: 1070
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 07, 2015, 10:17:24 AM |
|
What if Satoshi threw away his private keys where he held that many bitcoins, so that even if they get to him they cant steal his bitcoins?
Because if this is true, then the bitcoin price cant really go below 100$ cant it?
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
|
|
|
|
|