How many Bitcoins are lost forever?

[maister77777]

Just look at the number of inactive bitcoins that havent moved in at least 2-3 years. Those coins should be >90% inactive.

They may not be lost, but its highly unlikely that they will be moved ever again. Now somebody make a script and parse through the blockchain for such transactions.

It would be interesting to know how many inactive addresses there are there.

I think that this is not possible to count the number of the lost key. The very blockchain technology implies a lack of control, but here this is the case.

[anasis]

Losses necessarily exist, but only a very small percentage. I do not think that those who have lost their passwords from purses will not be able to recover them, and that is another key issue. But if a person is engaged in bitcoin, it is very friendly and does not allow problems. Although anything can happen.

[KennyR]

Recently came through a post in which its described that he had lost 3000btc. It happened just because he lost the access to the wallet in which he had stored the entire thing without diversifying. Very few might have experienced such a big loss and I haven't lost in such a manner and most of my losses were through gambling.

[MMA]

Recently came through a post in which its described that he had lost 3000btc. It happened just because he lost the access to the wallet in which he had stored the entire thing without diversifying. Very few might have experienced such a big loss and I haven't lost in such a manner and most of my losses were through gambling.

but i think it is really very difficult to calculate the actual number of bitcoin that has been lost, because no one can know that who has lost the key of their wallets and how can we consider bitcoin as lost because no one even know the actual number of bitcoin users.

[BillyBobZorton]

Recently came through a post in which its described that he had lost 3000btc. It happened just because he lost the access to the wallet in which he had stored the entire thing without diversifying. Very few might have experienced such a big loss and I haven't lost in such a manner and most of my losses were through gambling.

I think I remember reading somewhere on reddit.com/r/bitcoin that someone did the actual counting, and they came up with at least 3 million bitcoins already lost forever... if the statistics are anywhere close to reality, then in a couple of years the total supply will be about 15 million bitcoins if coins get lost at the same rate, or potentially faster rate as some people use it and keep screwing up.

[tyz]

Three millions of lost Bitcoins? This can just be an estimation. As far as I know, there is no evidence of such a big loss of Bitcoins.
This would mean that only 13 of 16 million mined Bitcoins are available for circulation. I would be interested in knowing where on Reddit you can find the thread.

Recently came through a post in which its described that he had lost 3000btc. It happened just because he lost the access to the wallet in which he had stored the entire thing without diversifying. Very few might have experienced such a big loss and I haven't lost in such a manner and most of my losses were through gambling.

I think I remember reading somewhere on reddit.com/r/bitcoin that someone did the actual counting, and they came up with at least 3 million bitcoins already lost forever... if the statistics are anywhere close to reality, then in a couple of years the total supply will be about 15 million bitcoins if coins get lost at the same rate, or potentially faster rate as some people use it and keep screwing up.

[abel1337]

Three millions of lost Bitcoins? This can just be an estimation. As far as I know, there is no evidence of such a big loss of Bitcoins.
This would mean that only 13 of 16 million mined Bitcoins are available for circulation. I would be interested in knowing where on Reddit you can find the thread.

Recently came through a post in which its described that he had lost 3000btc. It happened just because he lost the access to the wallet in which he had stored the entire thing without diversifying. Very few might have experienced such a big loss and I haven't lost in such a manner and most of my losses were through gambling.

I think I remember reading somewhere on reddit.com/r/bitcoin that someone did the actual counting, and they came up with at least 3 million bitcoins already lost forever... if the statistics are anywhere close to reality, then in a couple of years the total supply will be about 15 million bitcoins if coins get lost at the same rate, or potentially faster rate as some people use it and keep screwing up.

I agree this is surely an estimation how can you know if bitcoin transaction is anonymously done. Maybe you have collected so many data and compiled it so you can make your estimation.  We can just assume that this lose are accidents.

[ged00u]

I don't know if this case can be considered lost forever, but I just accidentally passed by a topic on this forum saying that a man who have put his belief in bitcoin since the early days of it, maybe 2009, and he had somehow put his 1000 BTC in a hard drive. Over time, he seemed to forget about it and so he had been formatting his drive 5,6 times and now when he knew that only a bitcoin can worth nearly a thousand dollars, he tried to recover his drive for 1000 BTC, but things don't seem to be good. I hope he would be able to recover it

[dunfida]

I don't know if this case can be considered lost forever, but I just accidentally passed by a topic on this forum saying that a man who have put his belief in bitcoin since the early days of it, maybe 2009, and he had somehow put his 1000 BTC in a hard drive. Over time, he seemed to forget about it and so he had been formatting his drive 5,6 times and now when he knew that only a bitcoin can worth nearly a thousand dollars, he tried to recover his drive for 1000 BTC, but things don't seem to be good. I hope he would be able to recover it

I have read that thread too on which hes asking for help for recovering his wallet but in my own view its impossible for him to find those bitcoins again since he don't have the private keys or wallet.dat file stored on the hard drive and also he formatted it 5-6x which is really bad and cant be recovered for sure and considered to be included on bitcoins that are lost forever.

[MMA]

Just look at the number of inactive bitcoins that havent moved in at least 2-3 years. Those coins should be >90% inactive.

They may not be lost, but its highly unlikely that they will be moved ever again. Now somebody make a script and parse through the blockchain for such transactions.

It would be interesting to know how many inactive addresses there are there.

I think that this is not possible to count the number of the lost key. The very blockchain technology implies a lack of control, but here this is the case.

yes i think it impossible to find our that now many bitcoin has been lost for ever. i there are millions of wallets and now one can know which accouts are active and which wallets are blocked your password lost account.s

[RealBitcoin]

Just look at the number of inactive bitcoins that havent moved in at least 2-3 years. Those coins should be >90% inactive.

They may not be lost, but its highly unlikely that they will be moved ever again. Now somebody make a script and parse through the blockchain for such transactions.

It would be interesting to know how many inactive addresses there are there.

I think that this is not possible to count the number of the lost key. The very blockchain technology implies a lack of control, but here this is the case.

yes i think it impossible to find our that now many bitcoin has been lost for ever. i there are millions of wallets and now one can know which accouts are active and which wallets are blocked your password lost account.s

Dude , you don't know the definition of inactive.


Inactive doesn't necessarly mean that the coins are lost forever, it just means that the coins are inactive for a long time, which is almost equivalent as if it were lost forever, from it's behavior.


Like if Johnny has 100 BTC, but hes is 20, and he just saves it for his retirement at 65, but at 64 he dies, and his son Bobby will inherit the private key hidden under his mattress. Bobby inherits it at 30, but he also doesn't spends it until 65, but he also dies at 64, and his son will inherit it, and so on. It goes on for 3-4-5 generations. The private key is still known by somebody, it's just that they don't use it.


Now how is the example pointed out above, not synonymous with the private key being lost forever? If the coins are not moving, who cares if the private key is known or not.


If an address doesn't have an outgoing transaction for 100 years. Yeah maybe the private key is buried under a stone in the desert, but if the coins are not moving then who cares?


So by measuring the inactive addresses over an X period of time, we can actually approximate this, regarless of the status of the private key (which is impossible to prove anyway, because it's private).

[Carmen_Sandiego]

Recently came through a post in which its described that he had lost 3000btc. It happened just because he lost the access to the wallet in which he had stored the entire thing without diversifying. Very few might have experienced such a big loss and I haven't lost in such a manner and most of my losses were through gambling.

I think I remember reading somewhere on reddit.com/r/bitcoin that someone did the actual counting, and they came up with at least 3 million bitcoins already lost forever... if the statistics are anywhere close to reality, then in a couple of years the total supply will be about 15 million bitcoins if coins get lost at the same rate, or potentially faster rate as some people use it and keep screwing up.

This is a large number, considering the fact that, at present time, there is something around sixteen million Bitcoins in circulation.
Probably a large amount was lost early because many people did not know the real value of Bitcoin... but, as Bitcoin becomes more valued, people will be more careful to avoid losses.

[Mr.grin]

if you are a traders, or a gambler, then you will not be able to count all bitcoin amount that has been lost. maybe more than 1 or 2 BTC, or even more. Well, we need to consider is how we generate profits. I was a businessman, maybe I have a lot to lose bitcoin, but I never count them. because, if you just think about it, you probably will not be able to develop.

[Bitcoinsummoner]

if you are a traders, or a gambler, then you will not be able to count all bitcoin amount that has been lost. maybe more than 1 or 2 BTC, or even more. Well, we need to consider is how we generate profits. I was a businessman, maybe I have a lot to lose bitcoin, but I never count them. because, if you just think about it, you probably will not be able to develop.

I business its always happening that you are losing but you will learn how to manage it until you will be satisfied and gaining a good more profit.. with your own managing.. in my own i am not counting but i am thinking first before i spend and what will be a good methods that you can save more not to lose more..

[whizter]

if you are a traders, or a gambler, then you will not be able to count all bitcoin amount that has been lost. maybe more than 1 or 2 BTC, or even more. Well, we need to consider is how we generate profits. I was a businessman, maybe I have a lot to lose bitcoin, but I never count them. because, if you just think about it, you probably will not be able to develop.

I business its always happening that you are losing but you will learn how to manage it until you will be satisfied and gaining a good more profit.. with your own managing.. in my own i am not counting but i am thinking first before i spend and what will be a good methods that you can save more not to lose more..

i think here the op means to say that for example i have 5 bitcoins in my online wallet and suppose i lost the key of may wallet so the 5 bitcoins are lost for ever, because no one can remove the bitcoins from that account.

[KennyR]

if you are a traders, or a gambler, then you will not be able to count all bitcoin amount that has been lost. maybe more than 1 or 2 BTC, or even more. Well, we need to consider is how we generate profits. I was a businessman, maybe I have a lot to lose bitcoin, but I never count them. because, if you just think about it, you probably will not be able to develop.

I business its always happening that you are losing but you will learn how to manage it until you will be satisfied and gaining a good more profit.. with your own managing.. in my own i am not counting but i am thinking first before i spend and what will be a good methods that you can save more not to lose more..

i think here the op means to say that for example i have 5 bitcoins in my online wallet and suppose i lost the key of may wallet so the 5 bitcoins are lost for ever, because no one can remove the bitcoins from that account.

In my view such an act of losing the key is similar to losing the bitcoin within the wallet forever. In a similar manner bitcoin lost in gambling too is an loss forever, because only very few earn the lost amount by the very next or within few events to compensate the loss.

[Qunenin]

if you are a traders, or a gambler, then you will not be able to count all bitcoin amount that has been lost. maybe more than 1 or 2 BTC, or even more. Well, we need to consider is how we generate profits. I was a businessman, maybe I have a lot to lose bitcoin, but I never count them. because, if you just think about it, you probably will not be able to develop.

I business its always happening that you are losing but you will learn how to manage it until you will be satisfied and gaining a good more profit.. with your own managing.. in my own i am not counting but i am thinking first before i spend and what will be a good methods that you can save more not to lose more..

i think here the op means to say that for example i have 5 bitcoins in my online wallet and suppose i lost the key of may wallet so the 5 bitcoins are lost for ever, because no one can remove the bitcoins from that account.

In my view such an act of losing the key is similar to losing the bitcoin within the wallet forever. In a similar manner bitcoin lost in gambling too is an loss forever, because only very few earn the lost amount by the very next or within few events to compensate the loss.

You have given two different explanations. First the Bitcoins lost by losing the KEY or Password in case of online wallet, is the real loss of bitcoins as they are not in anybody custody.
The 2nd point , Bitcoins lost in gambling is not really a lost of bitcoins as it is just transferred from one wallet to another.

[noormcs5]

I know it is a tricky question. What do you think, how many Bitcoins are lost forever and are 'out of the network' by lost private keys?

Its very sensitive topic and I think every newbie must have to aware before doing procedure of own bitcoin wallet on own desktop or laptop even in web wallet also. Because if you have btc on particular wallet address but if you forget private keys of your wallet then it make big trouble. As no one can use that bitcoins without private keys.

You are absolutely right. If you lost your private key, it means you have lost your coins too, It is same like you burn the currency notes. and no one want to burn thier notes.  So always keep your private key safe somewhere so you can recover  in case of system crashes.

[Owl_Fintech]

Recently came through a post in which its described that he had lost 3000btc. It happened just because he lost the access to the wallet in which he had stored the entire thing without diversifying. Very few might have experienced such a big loss and I haven't lost in such a manner and most of my losses were through gambling.

This is a very large amount of Bitcoin to put into a single address. Several backups should have been made to avoid this. I hope this user has more Bitcoins saved in other places.

[lionstrike]

much more than you can think