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Author Topic: Do coins get lost at a bigger rate than they are created?  (Read 1166 times)
Herbert2020
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August 11, 2016, 08:32:06 AM
 #21

We don't stop seeing people saying how they lost passwords, hard drives and so on, losing coins forever.

Is this rate of coins being lost bigger than the rate coins are being generated at?

I don't think so, i think the number of the lost coins is a lot less than the mined and generated coins everyday, there is hundreds of coins generated in daily basis.

coins are been generated everyday lots, so in this dont think they are loss...the loss ones are more....because everyminiute and everyday bitcoin go round been mined..

the concern is not about the number lost against the number being created, yeah obviously at this point there are a lot of coins being created each day and it is a lot more than the rate of loss.

if don't know about OP but the real concern is about how many is going to be lost from the total 21 million coins, and is there going to be enough left over for everybody if bitcoin becomes famous enough.

and to answer that you have to know two things: the number of coins lost/destroyed is nothing to worry about because it is not that much yet. and also bitcoin is divisible (i don't know if it is called this or dividable) but it means you can have more than 8 decimal places so you have more satoshi in reality to cover the price and lost coins.

Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip.
Whales are those who keep buying the dip.
DOGE12321
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August 11, 2016, 09:22:00 AM
 #22

I am pretty sure that around 2,000 BTC are generated every 24 hours. If you look at the statistics, it is unreasonable to lose more than 2,000 BTC every day. We only hear about, people losing their passwords or backup hardware occasionally.

Therefore, I personally, believe that we can’t lose more Bitcoin than that is actually generated.

Smiley
Hazir
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August 11, 2016, 09:49:08 AM
 #23

We don't stop seeing people saying how they lost passwords, hard drives and so on, losing coins forever.

Is this rate of coins being lost bigger than the rate coins are being generated at?

1. You can't have good system protecting bitcoin network from 'loss' of bitcoin.
2. There is no way to tell that user of long unused wallet is being patient with his coins or is - for example already dead.
3. Lost coins are not a problem at all, it will make every other coin worth slightly more.
4. "Production" of bitcoins is constant and can't be changed.


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