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Liad.Services
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October 12, 2016, 08:48:16 AM |
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If bitcoins are lost, than it means no one has the access to the wallet that owns the bitcoins.
So no one will ever be able to recover the funds that are lost in the wallet.
When funds are getting lost, it is like a donation to the whole bitcoin community, because there are less bitcoins in circulation, which always make the price go higher.
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kpitti
Legendary
 Offline
Activity: 924
Merit: 1002
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October 12, 2016, 02:37:45 PM |
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what kind of lost ou are talking
As you can see from another posts Bitcoins can`t be lost. All Bitcoins are in the Blockchain forewer. The only think which can be lost is a Private key which grant owner mannipualtion with Bitcoins he owns. If Private key is lost (lost password for wallet) then owner is not owner anymore  |
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dArkjON
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October 12, 2016, 03:13:59 PM |
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If bitcoins are lost, than it means no one has the access to the wallet that owns the bitcoins.
So no one will ever be able to recover the funds that are lost in the wallet.
When funds are getting lost, it is like a donation to the whole bitcoin community, because there are less bitcoins in circulation, which always make the price go higher.
So Funds stay on a Wallet and dont move again or make Fees for the Bitcoin Community... It the same as you burn a 100$ Note there will be no reward for anyone... If someone found your Key they can access again so its not the same like burning but this change is very small  |
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Rude Boy
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October 13, 2016, 07:16:15 AM |
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When bitcoins were lost in a wallet/an address, Nothing will happen and funds will be there forever until someone had a random chance of getting that lost wallet.
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ether19
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October 13, 2016, 10:17:26 AM |
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Well, It's gone. That's it. Nobody can do anything about it. It will be locked down and you can see the bitcoin in the wallet, but you will not be able to do anything with them.
There are options to brute force the wallet,but the private key should be made from phrases that can be easily recollected. Right now, people make addresses with the help of random mouse movements which is very hard to crack.
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ranochigo
Legendary
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Activity: 3038
Merit: 4420
Crypto Swap Exchange
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October 13, 2016, 11:15:13 AM |
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There are options to brute force the wallet,but the private key should be made from phrases that can be easily recollected. Right now, people make addresses with the help of random mouse movements which is very hard to crack.
Brain wallets and other similar wallets are very easy to crack due to the thinking of the human brain and the weak passphrase. Using a weak passphrase or using passphrase at all to generate addresses would just result in an overall decrease in security and wouldn't do the owner any good if it gets cracked. Most wallets actually uses the computer's RNG to generate the address with bitaddress.org actually using the mouse movement. This is the ideal method of generation, not passphrase. |
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ethereumhunter
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October 13, 2016, 11:34:15 AM |
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If bitcoins are lost, than it means no one has the access to the wallet that owns the bitcoins.
So no one will ever be able to recover the funds that are lost in the wallet.
When funds are getting lost, it is like a donation to the whole bitcoin community, because there are less bitcoins in circulation, which always make the price go higher.
its true and many people will lost their bitcoin and its very sad because for now, the price is really promising and its look to go up more than before so if bitcoin is lost, then the price will drop into bottom. and if its really happen so there are no future for bitcoin and we can make money again like before. |
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Embeddeddownloads
Newbie
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Activity: 9
Merit: 0
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October 17, 2016, 10:46:04 PM |
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It is like burning money - You can't get it back!
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Snorek
Legendary
Offline
Activity: 1400
Merit: 1001
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October 18, 2016, 07:26:22 AM |
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As you can see from another posts Bitcoins can`t be lost. All Bitcoins are in the Blockchain forewer. The only think which can be lost is a Private key which grant owner mannipualtion with Bitcoins he owns. If Private key is lost (lost password for wallet) then owner is not owner anymore What difference does it make? Burned bitcoins are unspendable forever. So what if they are visible in the blockchain? When bitcoins are destroyed apart from you losing money you are raising (very slightly) the value of the remaining bitcoins by reducing the number of spendable ones. I doubt that anyone will be using this method on purpose on a large scale though. |
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Docnaster
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October 19, 2016, 04:38:54 PM |
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i am curiously that if some lost his bitcoin wallet than what will happen with btc that are in the lost wallet .
First your bitcoin is your reponsibility if you lose bitcoin in your wallet without sending it then someone sabotage you. We'll no one can really lose bitcoin when you are sending it and i think somehack hacked you and be careful when you are logging in someones computer. |
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Mark02
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October 19, 2016, 09:20:56 PM |
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i am curiously that if some lost his bitcoin wallet than what will happen with btc that are in the lost wallet .
First your bitcoin is your reponsibility if you lose bitcoin in your wallet without sending it then someone sabotage you. We'll no one can really lose bitcoin when you are sending it and i think somehack hacked you and be careful when you are logging in someones computer. Simple answer, of course your bitcoin will be lost also. Come think of it. If the bitcoin wallet you are into is lost. How can you transfer or cashout your bitcoin right? It is just like a stolen wallet of thief. If the thief stole your wallet, you are no longer have access to your money and etc... So make sure to always withdraw your bitcoins from online wallets from time to time as it can close at any moment. If its just technical errors. You may contact their admins to assess you from claiming back your lost bitcoins. |
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PieCrafted
Member
Offline
Activity: 117
Merit: 10
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October 26, 2016, 04:49:23 AM |
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This makes me wonder about twenty years from, and all the people with Bitcoin who died. Unless they told someone who they can trust and gave them their password, it will all be gone.
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VerdinaNET
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October 26, 2016, 03:47:33 PM |
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That's one interesting difference between btc and cash. If you lose your cash money someone will use them for sure:)) btc are left for death:)
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