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BitcoinPaw
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March 28, 2016, 05:35:14 PM |
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it actually is decreasing as some people might lose their private keys thus destroy their bitcoins in that wallet
that's a tiny amount compared to the past, the lost coins nowadays are a tiny fraction, not worth considering at least someone is doing it on purpose by burning his bitcoin into some un-retrievable address I think so too. According to some people that I heard mining from the past it is really hard to mine a coin. So I dont think a million or 2 is lost There are still a lot of coins out there and there are much to be mined. At times the idle coins ion every users wallet has been calculated as a lost coin. This make the users feel as, the available bitcoins were decreasing continuously. But even idle coins in future will be sold or traded. I don't even know what mean lost coin. It's can't be only if people will start forgeting about bitcoins that they already earned. |
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aardvark15 (OP)
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March 28, 2016, 06:27:00 PM |
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When coins are truly lost, then it's forever and they can't be found again. At some point the number of mined coins will be very small and there will be more lost per year than mined per year.
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tyz
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Activity: 3360
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March 29, 2016, 11:14:38 AM |
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Read this thread in order to get a clue how many Bitcoins are actually "lost". Lost means there is no control of the private key anymore and therefore the Bitcoins can not be accessed anymore. Maybe theie will be a private key creation by incident sometime in the future which exactly belongs to an account which holds Bitcoins. But this is very unlikely. https://bitcointalk.org/index.php?topic=1097562.0quote author=richardsNY link=topic=1370707.msg13943651#msg13943651 date=1455924092] The number of freshly created Bitcoins will decrease because of the block halving. In Juli this year the second block halving will kick in and lower the block rewards to 12.5 BTC. Can you explain what exactly you mean with Bitcoins being "lost"? [/quote] |
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jaysabi
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March 29, 2016, 11:41:26 AM |
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it actually is decreasing as some people might lose their private keys thus destroy their bitcoins in that wallet
that's a tiny amount compared to the past, the lost coins nowadays are a tiny fraction, not worth considering at least someone is doing it on purpose by burning his bitcoin into some un-retrievable address I think so too. According to some people that I heard mining from the past it is really hard to mine a coin. So I dont think a million or 2 is lost There are still a lot of coins out there and there are much to be mined. At times the idle coins ion every users wallet has been calculated as a lost coin. This make the users feel as, the available bitcoins were decreasing continuously. No one differentiates between "lost" coins and "idle" coins. All that matters to the Bitcoin price is the number of coins for sale and the number of coins being bought at any given time (supply and demand). Whether the coins are lost or idle, they are similarly not part of the coins that are for sale (not part of supply) and are similarly not having an effect on the price. |
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pitham1
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Activity: 1232
Merit: 1000
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March 30, 2016, 07:42:01 AM |
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No one differentiates between "lost" coins and "idle" coins. All that matters to the Bitcoin price is the number of coins for sale and the number of coins being bought at any given time (supply and demand). Whether the coins are lost or idle, they are similarly not part of the coins that are for sale (not part of supply) and are similarly not having an effect on the price.
There is a huge difference between "idle" and "lost" coins. Most of my coins are idle. They do not form part of the supply. However, if the price of bitcoins crosses $2,000 all my bitcoins will enter the market. Lost coins will not enter the market, irrespective of the price of bitcoin. |
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Olaf
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March 30, 2016, 07:45:02 AM |
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No one differentiates between "lost" coins and "idle" coins. All that matters to the Bitcoin price is the number of coins for sale and the number of coins being bought at any given time (supply and demand). Whether the coins are lost or idle, they are similarly not part of the coins that are for sale (not part of supply) and are similarly not having an effect on the price.
There is a huge difference between "idle" and "lost" coins. Most of my coins are idle. They do not form part of the supply. However, if the price of bitcoins crosses $2,000 all my bitcoins will enter the market. Lost coins will not enter the market, irrespective of the price of bitcoin. To be honest everything will be on the table if it reaches $1k lol. I know most of us will settle the 1st 1k dream lol. I think this will be the huge sell off point for most before your price comes. |
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fricircled
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April 02, 2016, 06:42:12 AM |
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No one differentiates between "lost" coins and "idle" coins. All that matters to the Bitcoin price is the number of coins for sale and the number of coins being bought at any given time (supply and demand). Whether the coins are lost or idle, they are similarly not part of the coins that are for sale (not part of supply) and are similarly not having an effect on the price.
There is a huge difference between "idle" and "lost" coins. Most of my coins are idle. They do not form part of the supply. However, if the price of bitcoins crosses $2,000 all my bitcoins will enter the market. Lost coins will not enter the market, irrespective of the price of bitcoin. To be honest everything will be on the table if it reaches $1k lol. I know most of us will settle the 1st 1k dream lol. I think this will be the huge sell off point for most before your price comes. The first $1k dream realised two and half years ago. But that was not sustainable. I think this time, the $1k is sustainable. |
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romero121
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April 02, 2016, 01:39:06 PM |
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No one differentiates between "lost" coins and "idle" coins. All that matters to the Bitcoin price is the number of coins for sale and the number of coins being bought at any given time (supply and demand). Whether the coins are lost or idle, they are similarly not part of the coins that are for sale (not part of supply) and are similarly not having an effect on the price.
There is a huge difference between "idle" and "lost" coins. Most of my coins are idle. They do not form part of the supply. However, if the price of bitcoins crosses $2,000 all my bitcoins will enter the market. Lost coins will not enter the market, irrespective of the price of bitcoin. To be honest everything will be on the table if it reaches $1k lol. I know most of us will settle the 1st 1k dream lol. I think this will be the huge sell off point for most before your price comes. The first $1k dream realised two and half years ago. But that was not sustainable. I think this time, the $1k is sustainable. Last time it crossed $1000 but not sustained for a long time. In the same way this time the price might reach around $800 which too will not sustain for a long time. |
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nielaminda
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April 02, 2016, 01:51:01 PM |
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No one differentiates between "lost" coins and "idle" coins. All that matters to the Bitcoin price is the number of coins for sale and the number of coins being bought at any given time (supply and demand). Whether the coins are lost or idle, they are similarly not part of the coins that are for sale (not part of supply) and are similarly not having an effect on the price.
There is a huge difference between "idle" and "lost" coins. Most of my coins are idle. They do not form part of the supply. However, if the price of bitcoins crosses $2,000 all my bitcoins will enter the market. Lost coins will not enter the market, irrespective of the price of bitcoin. To be honest everything will be on the table if it reaches $1k lol. I know most of us will settle the 1st 1k dream lol. I think this will be the huge sell off point for most before your price comes. The first $1k dream realised two and half years ago. But that was not sustainable. I think this time, the $1k is sustainable. Last time it crossed $1000 but not sustained for a long time. In the same way this time the price might reach around $800 which too will not sustain for a long time. Yeah with a sudden high price in bitcoin it will not last long as what happen in the past,we will just see about 500-600 in bitcoin price. |
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malzahar
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April 02, 2016, 10:54:02 PM |
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No one differentiates between "lost" coins and "idle" coins. All that matters to the Bitcoin price is the number of coins for sale and the number of coins being bought at any given time (supply and demand). Whether the coins are lost or idle, they are similarly not part of the coins that are for sale (not part of supply) and are similarly not having an effect on the price.
There is a huge difference between "idle" and "lost" coins. Most of my coins are idle. They do not form part of the supply. However, if the price of bitcoins crosses $2,000 all my bitcoins will enter the market. Lost coins will not enter the market, irrespective of the price of bitcoin. To be honest everything will be on the table if it reaches $1k lol. I know most of us will settle the 1st 1k dream lol. I think this will be the huge sell off point for most before your price comes. The first $1k dream realised two and half years ago. But that was not sustainable. I think this time, the $1k is sustainable. Last time it crossed $1000 but not sustained for a long time. In the same way this time the price might reach around $800 which too will not sustain for a long time. Yeah with a sudden high price in bitcoin it will not last long as what happen in the past,we will just see about 500-600 in bitcoin price. The # available shouldnt just soley go based on price though. If 1 whale were to buy in a bulk order, that doesnt mean anything. Its the tecnical # of block reward you should look at more then anything else. |
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plost24
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April 02, 2016, 10:58:12 PM |
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No one differentiates between "lost" coins and "idle" coins. All that matters to the Bitcoin price is the number of coins for sale and the number of coins being bought at any given time (supply and demand). Whether the coins are lost or idle, they are similarly not part of the coins that are for sale (not part of supply) and are similarly not having an effect on the price.
There is a huge difference between "idle" and "lost" coins. Most of my coins are idle. They do not form part of the supply. However, if the price of bitcoins crosses $2,000 all my bitcoins will enter the market. Lost coins will not enter the market, irrespective of the price of bitcoin. To be honest everything will be on the table if it reaches $1k lol. I know most of us will settle the 1st 1k dream lol. I think this will be the huge sell off point for most before your price comes. The first $1k dream realised two and half years ago. But that was not sustainable. I think this time, the $1k is sustainable. Last time it crossed $1000 but not sustained for a long time. In the same way this time the price might reach around $800 which too will not sustain for a long time. it is normal because in that time all owner of bitcoin will sell there bitcoin and that will make a high drop for bitcoin price. if they wait for the price to get even higher and sell will be beter but all people are waiting for this long time ago. like me if the price will hit 800$ i will sell all my bitoin. |
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jaysabi
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April 03, 2016, 09:53:06 PM |
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No one differentiates between "lost" coins and "idle" coins. All that matters to the Bitcoin price is the number of coins for sale and the number of coins being bought at any given time (supply and demand). Whether the coins are lost or idle, they are similarly not part of the coins that are for sale (not part of supply) and are similarly not having an effect on the price.
There is a huge difference between "idle" and "lost" coins. Most of my coins are idle. They do not form part of the supply. However, if the price of bitcoins crosses $2,000 all my bitcoins will enter the market. Lost coins will not enter the market, irrespective of the price of bitcoin. For the purpose of determining price, there is no difference between lost and idle coins. Your coins being idle has the exact same effect as them being lost, and that is that they are not factoring in the current price. The market has no ability to differentiate between lost and idle coins, and has no ability to factor in idle coins becoming part of active supply. It only reacts when they do, which is after the fact. So for the purpose of price, there is no difference between lost and idle coins. |
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fricircled
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April 04, 2016, 03:40:39 PM |
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The lost coin will reduce the current supply. The idle coin will be counted towards to the total available coins.
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quentincole32
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April 04, 2016, 07:15:16 PM |
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No wonder. There are a lot of wallets with lost passwords that have many bitcoins in them. Those coins are lost forever.
what excatly definition of "lost bitcoin"? i have bitcoin in my wallet,and if i not open it until several years,it mean same with wallet who lost the password, is my bitcoin lost forever? |
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Laosai
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April 04, 2016, 07:16:26 PM |
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No wonder. There are a lot of wallets with lost passwords that have many bitcoins in them. Those coins are lost forever.
what excatly definition of "lost bitcoin"? i have bitcoin in my wallet,and if i not open it until several years,it mean same with wallet who lost the password, is my bitcoin lost forever? Yeah but if you die without letting anyone know the password of the wallet, the coins are lost forever. |
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mrhelpful
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April 05, 2016, 12:15:44 AM |
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The lost coin will reduce the current supply. The idle coin will be counted towards to the total available coins.
Thats pretty given. But what will be intresting is despite the lost coins with the 21 mill hard code, will the remaining coins available give off a higher value regardless. |
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goinmerry
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Merit: 1083
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April 05, 2016, 04:12:10 AM |
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No wonder. There are a lot of wallets with lost passwords that have many bitcoins in them. Those coins are lost forever.
what excatly definition of "lost bitcoin"? i have bitcoin in my wallet,and if i not open it until several years,it mean same with wallet who lost the password, is my bitcoin lost forever? I think it is still at the state of an idle coin. Passwords can still be recovered as long as that certain computer can still be revived. If you are using own wallet, but if it is online I guess that coin is still alive and if you dont want to get it anymore that certain website will own it. |
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jaysabi
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April 10, 2016, 04:49:58 PM |
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There is a huge difference between "idle" and "lost" coins. Most of my coins are idle. They do not form part of the supply. However, if the price of bitcoins crosses $2,000 all my bitcoins will enter the market. Lost coins will not enter the market, irrespective of the price of bitcoin.
Your coins are part of the supply. You are asking $2000 for each. If coins can be sold, then they are part of the supply. Market supply is not a number. It is a curve showing the price at which a certain number of coins would be sold. If there is a price at which a coin would be sold, then that coin is part of the supply. Lost coins are not part of the supply because they cannot be sold. There is a difference between available supply and market supply. Available supply is what is possible to be accessed (i.e. Not lost) while available supply is what is actively seeking a buyer. Available supply does not impact price, only market supply does. |
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rio3233
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April 10, 2016, 04:53:40 PM |
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I think the number of available bitcoins is increasing, because there are many miners out there. And if bitcoins decreasing i think it will affect the price of bitcoins.
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Blackmet
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April 10, 2016, 10:02:32 PM |
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I think the number of available bitcoins is increasing, because there are many miners out there. And if bitcoins decreasing i think it will affect the price of bitcoins.
Bitcoin will never deacreasing cause of miners it's ture. But a lot of people are holding bitcoins and it's a problem what nobody can solve. Everyone want more money. |
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