Bitcoin Forum
November 21, 2017, 02:45:07 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: How do coins get lost?  (Read 877 times)
yordan
Newbie
*
Offline Offline

Activity: 14


View Profile
March 24, 2013, 09:07:00 PM
 #1

If coins are lost why can't they be discovered again by miners doing them same brute force computations necessary to discover them in the first place?

Is anybody keeping stats on "lost coins"?
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511275507
Hero Member
*
Offline Offline

Posts: 1511275507

View Profile Personal Message (Offline)

Ignore
1511275507
Reply with quote  #2

1511275507
Report to moderator
Mike Christ
aka snapsunny
Legendary
*
Offline Offline

Activity: 1092



View Profile
March 24, 2013, 09:09:08 PM
 #2

Coins become lost when the private keys to them aren't stored anywhere, and nobody is holding them.  So though the coins never really disappear, they can't be moved anywhere, because no one has the private keys required to move them.

yordan
Newbie
*
Offline Offline

Activity: 14


View Profile
March 24, 2013, 09:15:05 PM
 #3

Coins become lost when the private keys to them aren't stored anywhere, and nobody is holding them.  So though the coins never really disappear, they can't be moved anywhere, because no one has the private keys required to move them.

Can't the private keys be cracked the same way they are discovering new coins?
odolvlobo
Legendary
*
Offline Offline

Activity: 1946



View Profile
March 24, 2013, 09:16:25 PM
 #4

If coins are lost why can't they be discovered again by miners doing them same brute force computations necessary to discover them in the first place?

Is anybody keeping stats on "lost coins"?


The process of mining is different from the process of finding a private key. It is much easier to mine bitcoins than to find a private key, and the word "much" here is a ridiculous understatement. The difficulty in cracking a private key is a fundamental attribute of bitcoin. It is close to impossible and that is what makes bitcoin secure.

There are statistics related to how long coins sit idle, but there is no way to know if coins are "lost" or not.

Buy bitcoins with cash from somebody near you: LocalBitcoins
Join an anti-signature campaign: DannyHamilton's ignore list
lassdas
Legendary
*
Offline Offline

Activity: 1848


View Profile
March 24, 2013, 09:17:24 PM
 #5

why can't they be discovered again by miners doing them same brute force computations necessary to discover them in the first place?
New coins don't get discovered, they simply don't exist and are created.
Lost coins do exist, you can't create them again.

There's no way to know which (or how many) coins are lost, because they look just as any other coin,
there's no difference between lost coins, or coins that just haven't moved because they've been stored on an offline-wallet hidden in a vault for a couple of years/decades.
jackjack
Legendary
*
Offline Offline

Activity: 1120


May Bitcoin be touched by his Noodly Appendage


View Profile
March 24, 2013, 09:19:01 PM
 #6

Coins become lost when the private keys to them aren't stored anywhere, and nobody is holding them.  So though the coins never really disappear, they can't be moved anywhere, because no one has the private keys required to move them.

Can't the private keys be cracked the same way they are discovering new coins?
I wouldn't have to bruteforce 115792089237316195423570985008687907853269984665640564039457584007913129639936 possibilities

Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2
Pywallet: instructions. Encrypted wallet support, export/import keys/addresses, backup wallets, export/import CSV data from/into wallet, merge wallets, delete/import addresses and transactions, recover altcoins sent to bitcoin addresses, sign/verify messages and files with Bitcoin addresses, recover deleted wallets, etc.
Mike Christ
aka snapsunny
Legendary
*
Offline Offline

Activity: 1092



View Profile
March 24, 2013, 09:20:08 PM
 #7

Coins become lost when the private keys to them aren't stored anywhere, and nobody is holding them.  So though the coins never really disappear, they can't be moved anywhere, because no one has the private keys required to move them.

Can't the private keys be cracked the same way they are discovering new coins?
I wouldn't have to bruteforce 115792089237316195423570985008687907853269984665640564039457584007913129639936 possibilities

Have they invented -illion words for how much that is?  Tongue

hybrid
Newbie
*
Offline Offline

Activity: 16



View Profile
March 24, 2013, 09:25:03 PM
 #8

Coins become lost when the private keys to them aren't stored anywhere, and nobody is holding them.  So though the coins never really disappear, they can't be moved anywhere, because no one has the private keys required to move them.

Can't the private keys be cracked the same way they are discovering new coins?
I wouldn't have to bruteforce 115792089237316195423570985008687907853269984665640564039457584007913129639936 possibilities

Have they invented -illion words for how much that is?  Tongue

115 quattuorvigintillion, 792 trevigintillion, 89 duovigintillion, 237 unvigintillion, 316 vigintillion, 195 novemdecillion, 423 octodecillion, 570 septendecillion, 985 sexdecillion, 8 quindecillion, 687 quattuordecillion, 907 tredecillion, 853 duodecillion, 269 undecillion, 984 decillion, 665 nonillion, 640 octillion, 564 septillion, 39 sextillion, 457 quintillion, 584 quadrillion, 7 trillion, 913 billion, 129 million, 639 thousand and 936  Smiley
Mike Christ
aka snapsunny
Legendary
*
Offline Offline

Activity: 1092



View Profile
March 24, 2013, 09:27:30 PM
 #9

Coins become lost when the private keys to them aren't stored anywhere, and nobody is holding them.  So though the coins never really disappear, they can't be moved anywhere, because no one has the private keys required to move them.

Can't the private keys be cracked the same way they are discovering new coins?
I wouldn't have to bruteforce 115792089237316195423570985008687907853269984665640564039457584007913129639936 possibilities

Have they invented -illion words for how much that is?  Tongue

115 quattuorvigintillion, 792 trevigintillion, 89 duovigintillion, 237 unvigintillion, 316 vigintillion, 195 novemdecillion, 423 octodecillion, 570 septendecillion, 985 sexdecillion, 8 quindecillion, 687 quattuordecillion, 907 tredecillion, 853 duodecillion, 269 undecillion, 984 decillion, 665 nonillion, 640 octillion, 564 septillion, 39 sextillion, 457 quintillion, 584 quadrillion, 7 trillion, 913 billion, 129 million, 639 thousand and 936  Smiley

Talk about a mouthfull Grin

yordan
Newbie
*
Offline Offline

Activity: 14


View Profile
March 24, 2013, 09:31:22 PM
 #10

I see  Grin
Gator-hex
Hero Member
*****
Offline Offline

Activity: 490


View Profile
March 24, 2013, 09:44:58 PM
 #11

Lost because they deleted their wallet.dat file somehow

keep a backup

WeTradeCoins
Full Member
***
Offline Offline

Activity: 168



View Profile WWW
March 24, 2013, 10:10:19 PM
 #12

Coins become lost when the private keys to them aren't stored anywhere, and nobody is holding them.  So though the coins never really disappear, they can't be moved anywhere, because no one has the private keys required to move them.

Can't the private keys be cracked the same way they are discovering new coins?
I wouldn't have to bruteforce 115792089237316195423570985008687907853269984665640564039457584007913129639936 possibilities

Have they invented -illion words for how much that is?  Tongue

115 quattuorvigintillion, 792 trevigintillion, 89 duovigintillion, 237 unvigintillion, 316 vigintillion, 195 novemdecillion, 423 octodecillion, 570 septendecillion, 985 sexdecillion, 8 quindecillion, 687 quattuordecillion, 907 tredecillion, 853 duodecillion, 269 undecillion, 984 decillion, 665 nonillion, 640 octillion, 564 septillion, 39 sextillion, 457 quintillion, 584 quadrillion, 7 trillion, 913 billion, 129 million, 639 thousand and 936  Smiley

+1 and respect. haha!  Tongue

www.WeMineLTC.com   0% FEE |   PPLNS  |   SSL  |   STRATUM  |  FULL DDoS PROTECTION LTC POOL!!
jackjack
Legendary
*
Offline Offline

Activity: 1120


May Bitcoin be touched by his Noodly Appendage


View Profile
March 24, 2013, 11:04:28 PM
 #13

Coins become lost when the private keys to them aren't stored anywhere, and nobody is holding them.  So though the coins never really disappear, they can't be moved anywhere, because no one has the private keys required to move them.

Can't the private keys be cracked the same way they are discovering new coins?
I wouldn't have to bruteforce 115792089237316195423570985008687907853269984665640564039457584007913129639936 possibilities

Have they invented -illion words for how much that is?  Tongue

115 quattuorvigintillion, 792 trevigintillion, 89 duovigintillion, 237 unvigintillion, 316 vigintillion, 195 novemdecillion, 423 octodecillion, 570 septendecillion, 985 sexdecillion, 8 quindecillion, 687 quattuordecillion, 907 tredecillion, 853 duodecillion, 269 undecillion, 984 decillion, 665 nonillion, 640 octillion, 564 septillion, 39 sextillion, 457 quintillion, 584 quadrillion, 7 trillion, 913 billion, 129 million, 639 thousand and 936  Smiley
I smell Wolfram Alpha  Grin

Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2
Pywallet: instructions. Encrypted wallet support, export/import keys/addresses, backup wallets, export/import CSV data from/into wallet, merge wallets, delete/import addresses and transactions, recover altcoins sent to bitcoin addresses, sign/verify messages and files with Bitcoin addresses, recover deleted wallets, etc.
DannyHamilton
Legendary
*
Online Online

Activity: 1974



View Profile
March 24, 2013, 11:05:23 PM
 #14

Coins become lost when the private keys to them aren't stored anywhere, and nobody is holding them.
- snip -

There are actually two types of "lost coins".

If someone loses the private key associated with a bitcoin address, any bitcoins ever received at that address will remain unspendable (assuming that no weaknesses are ever discovered in ECDSA, SHA-256, and RIPEMD-160 in the future).  However, if someone finds that private key (maybe it was written on a piece of paper that was dropped, but then later found by someone else?) all bitcoins associated with that address immediately become spendable again.  In most cases of "lost" bitcoins, the private key was ONLY stored in a file on a computer, and that file is deleted, or destroyed, making it essentially impossible for anyone to ever "find" that private key in the future.

The other type of "lost" coin is very rare and can be identified on the blockchain.  These coins are permanently lost, and there is no way to recover them.  They cannot be recovered if ECDSA, SHA-256, and/or RIPEMD-160 are broken in the future.  They cannot be recovered under any circumstances.  This type of "lost" coin involves someone paying a transaction fee on their transaction, and a miner having a bug in their software that causes them not to claim that transaction fee in their reward.  The fee is paid, but since nobody claimed it, it simply ceases to exist.

SilverBull
Newbie
*
Offline Offline

Activity: 20


View Profile
March 24, 2013, 11:18:10 PM
 #15

I had lost a wallet.dat file, I formatted the wrong drive.

I ran a tool to search the block device for a string I knew would be in the wallet.dat. I was able to recover the keys several months after my mistake.
WeTradeCoins
Full Member
***
Offline Offline

Activity: 168



View Profile WWW
March 25, 2013, 06:41:37 PM
 #16

I had lost a wallet.dat file, I formatted the wrong drive.

I ran a tool to search the block device for a string I knew would be in the wallet.dat. I was able to recover the keys several months after my mistake.


How many coins you had in the wallet? Tongue

www.WeMineLTC.com   0% FEE |   PPLNS  |   SSL  |   STRATUM  |  FULL DDoS PROTECTION LTC POOL!!
frga13
Sr. Member
****
Offline Offline

Activity: 384



View Profile
March 25, 2013, 07:12:35 PM
 #17

115 quattuorvigintillion, 792 trevigintillion, 89 duovigintillion, 237 unvigintillion, 316 vigintillion, 195 novemdecillion, 423 octodecillion, 570 septendecillion, 985 sexdecillion, 8 quindecillion, 687 quattuordecillion, 907 tredecillion, 853 duodecillion, 269 undecillion, 984 decillion, 665 nonillion, 640 octillion, 564 septillion, 39 sextillion, 457 quintillion, 584 quadrillion, 7 trillion, 913 billion, 129 million, 639 thousand and 936  Smiley

OMG great! Grin

giraffe
Newbie
*
Offline Offline

Activity: 6


View Profile
March 25, 2013, 07:13:15 PM
 #18

when people pass away I think

twitter @btc_price

1DM3WeocXTyzxSbi8gbWWvBqiJXSqxxWcR
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!