Wapinter
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Activity: 2646
Merit: 1026
Hire me for Bounty Management
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September 11, 2015, 10:16:32 PM |
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Everytime someone gets poorer by losing coins, we all get richer because we now own a larger percentage of the total amount of bitcoins that will ever be created.
There is no way of knowing how many coins are lost so i dont think it will affect the price. Total market cap of bitcoin will always be based of the total number mined and that is the number the market look at. Lost coins are just lost and nothing else... How can you say it won't affect the price? Lost coins means less supply which in turn will affect the price |
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prodigy8
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September 11, 2015, 10:16:33 PM |
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I guess about 20-30% of the Bitcoins minted are lost forever
How do you get this information. Do you know how many bitcoins are available and 20-30% is simple a huge money lost. I think he just made random number up. 20% would be almost 3 million bitcoins, which makes no sense to be true. If he moved it a couple of decimal places it would be closer to true number of lost bitcoins imho. I believe that people are much more careful today when dealing with bitcoin, so the number should not increase the way it did few years back, but there are always errors and accidents tho. That's true, and the escrows are used in maximum nowadays. But i was feeling bad when a guy lost 40 BTC by sending to an address that can't transfer anymore. |
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Wapinter
Legendary
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Activity: 2646
Merit: 1026
Hire me for Bounty Management
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September 11, 2015, 11:15:56 PM |
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I guess about 20-30% of the Bitcoins minted are lost forever
How do you get this information. Do you know how many bitcoins are available and 20-30% is simple a huge money lost. I think he just made random number up. 20% would be almost 3 million bitcoins, which makes no sense to be true. If he moved it a couple of decimal places it would be closer to true number of lost bitcoins imho. I believe that people are much more careful today when dealing with bitcoin, so the number should not increase the way it did few years back, but there are always errors and accidents tho. That's true, and the escrows are used in maximum nowadays. But i was feeling bad when a guy lost 40 BTC by sending to an address that can't transfer anymore. As I said.I have now posted something related to bitcoin. Check out my latest post |
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bank of bits
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September 12, 2015, 12:03:27 AM |
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It is hard to calculate the permanent loss, there a lot of stories about how some have had a huge amount of BTC in a hard drive they just threw out.
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wxa7115
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September 12, 2015, 12:13:21 AM |
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This is only possible if the Quantum Computers comes in the market, they can decrypt/bruteforce mostly everything.
Then everything will be lost forever. Well, as far as I know there are already some algorithms, which in theory, cannot be solved by quantum computing. |
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lottery248
Legendary
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Activity: 1568
Merit: 1005
beware of your keys.
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September 12, 2015, 12:24:35 AM |
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It is hard to calculate the permanent loss, there a lot of stories about how some have had a huge amount of BTC in a hard drive they just threw out.
yup. we won't know how many addresses were dead, because there are too many address to find. |
out of ability to use the signature, i want a new ban strike policy that will fade the strike after 90~120 days of the ban and not to be traced back, like google | email me for anything urgent, message will possibly not be instantly responded
i am not really active for some reason
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notiely
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Activity: 77
Merit: 10
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September 21, 2015, 12:49:11 PM |
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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?
Who knows the exactly number. |
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Blawpaw
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Activity: 1596
Merit: 1027
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September 21, 2015, 01:45:26 PM |
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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?
That's a good question! I guess that is very difficult to know at this point. I think that we will only be able to find how many BTC are lost after they are all mined. Or we can probably research the blockchain and find a pattern that could lead us to see how many BTC could be outside of the network. |
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JeWay
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September 21, 2015, 01:53:50 PM |
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It depends on how people use it, if they just make a wallet and after a couple months they abandon it. Well, we all will lost that Bitcoin. Unless, if someone can be able to crack the private key.
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MisterMoney
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Activity: 65
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September 21, 2015, 01:59:20 PM |
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That is really really much. I don't understand why it will lost FORever. |
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DarkHyudrA
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Activity: 1386
Merit: 1000
English <-> Portuguese translations
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September 21, 2015, 02:16:32 PM |
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That is really really much. I don't understand why it will lost FORever. It's lost forever because you can't get back the private key of the public key that have any sum of BTC. It's the same reason you can't get stealed by simply sharing your public key. |
English <-> Brazilian Portuguese translations
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Denker
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Activity: 1442
Merit: 1014
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September 21, 2015, 02:38:46 PM |
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That is really really much. I don't understand why it will lost FORever. Keep in mind these are just the coins some members claimed here to be lost. The real number might be way higher. If Satoshi should never move his coins we are talking about an amount of more than 1 million coins. |
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bitgolden
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Activity: 2814
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Leading Crypto Sports Betting & Casino Platform
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September 21, 2015, 02:40:57 PM |
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The real number of forever lost bitcoins must be a greater number, unfortunately there is no method currently available to us to measure this interesting segment bitcoins. But roughly we can assume some percentage of bitcoin as burned for particular period based on same period's minded coin. This may be applied to market cap calculations to get real worth of bitcoins.
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Rude Boy
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September 21, 2015, 04:20:52 PM |
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Lost about 0.0061 from my side by this address ► 17qfUN315w6DVyzQbbveSBw3hMWvYVMXAQ Because, i lost the wallet (its a multibit wallet) by my dead HDD, i didn't backup that wallet  and can't even recover from that HDD.  |
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momore
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Activity: 112
Merit: 10
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September 22, 2015, 01:07:04 AM |
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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?
Will the forever lost bitcoins reactive or re-mined? |
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gentlemand
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Activity: 2590
Merit: 3013
Welt Am Draht
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September 22, 2015, 02:29:38 AM |
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Will the forever lost bitcoins reactive or re-mined?
If they're 'remined' then Bitcoin will probably collapse as people realise that their coins can simply be taken from them. There are lots of coins that haven't moved for a long time. That doesn't mean they're lost. I don't think their owners would be too pleased if they suddenly disappeared just because they hadn't moved them for a while. |
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kvlolo
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September 22, 2015, 01:11:36 PM |
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Oh my god, any idea why there are so much? |
I'm looking for the best way to keep my bitcoins growing.
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Denker
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Activity: 1442
Merit: 1014
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September 22, 2015, 01:30:10 PM |
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Oh my god, any idea why there are so much? Plenty of reasons I guess. Broken data storage and no other back ups had been made. Early mined and forgot about it over the years. Many people have lost their private keys. |
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elite3000
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Activity: 1073
Merit: 1000
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September 23, 2015, 01:01:17 AM |
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Beginners still lose large amounts of Bitcoins through silly mistakes and security blunders it's tragic to see.
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Miss Fortune
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September 23, 2015, 03:04:30 AM |
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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?
Probably a lot, surely there are a lot of unreported lost about it new coin owners have lost coins due to they are new to this and doesn't have an idea on how this works. |
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