Lost Forever: 26.04 BTC Burned In 2016

[bitcoinwhoswho]

Last October a website called BTCBurns.cf identified 397 burn addresses containing 2,657.8686 BTC lost forever. It has gone offline. Since it stopped keeping track 26.04 additional bitcoins have been sent to these addresses.

The total number of unspendable bitcoins is now 2,771.4086.

http://bitcoinwhoswho.com/blog/2016/12/21/btc-burn-addresses/

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[topesis]

Last October a website called BTCBurns.cf identified 397 burn addresses containing 2,657.8686 BTC lost forever. It has gone offline. Since it stopped keeping track 26.04 additional bitcoins have been sent to these addresses.

The total number of unspendable bitcoins is now 2,771.4086.

http://bitcoinwhoswho.com/blog/2016/12/21/btc-burn-addresses/

2771BTC in total, that is a fortune but is this act intentional or a mistake, how can they be sending BTC continually to a dead address.

[mobnepal]

The total number of unspendable bitcoins is now 2,771.4086.

http://bitcoinwhoswho.com/blog/2016/12/21/btc-burn-addresses/

I think number of unspendable bitcoin is more than this because there are also lots of addresses which contain bitcoins and nobody have access to it, like addresses of wallets whose password were lost, known addresses of satoshi etc. However nice listing...

[1Referee]

The total number of unspendable bitcoins is now 2,771.4086.

http://bitcoinwhoswho.com/blog/2016/12/21/btc-burn-addresses/

I think number of unspendable bitcoin is more than this because there are also lots of addresses which contain bitcoins and nobody have access to it, like addresses of wallets whose password were lost, known addresses of satoshi etc. However nice listing...

That's true, but there is no way to confirm that they are really lost, or that the people in question really haven't access to their coins anymore. That's why it's better to wait and not include them into compiled "lost coins" lists. I from time to time spend some hours on analyzing very old wallet addresses containing plenty of coins. In some cases you will see that after 5 or 6 years the person behind one of these addresses starts moving his coins. That's why I never take for granted that they lost access to their wallets.

[calkob]

People have burned coins in the past for different reasons, and they were not really worth alot in the early days, i can remember giving away coin i had mined as they were worth nothing and new people wanted some, but once they became worth something my attitude changed to how much i would give them,  i think this happened for alot of people, i have heard andreas and roger ver both saying that they had given away whole bitcoins, but now they only give away bits. 

it soes seem a shame for all these bitcoins to be lost forever, but hey on the bright side it makes our coins all the more pricey 

[BingoDog]

This is not a small sum at all, what a pitty. The reasons could be very different but I wonder if there is any way at all to somehow save this coins or they are realy lost forever? Or if not now maybe sometimes in the future because this is truly big damage.

[jtipt]

The total number of unspendable bitcoins is now 2,771.4086.

http://bitcoinwhoswho.com/blog/2016/12/21/btc-burn-addresses/

I think number of unspendable bitcoin is more than this because there are also lots of addresses which contain bitcoins and nobody have access to it, like addresses of wallets whose password were lost, known addresses of satoshi etc. However nice listing...

Yup thats right, its mostly because during 2009-2010 since the price was so low many people burned a lot of bitcoins. And as you said there surely are a lot more addresses that we don't know about, considering this 2771 BTC is a very less estimation.

[Xester]

It is very normal for bitcoins to be burned or lost in circulation. Even fiat currency like local coins that are always gone in circulation due to many reasons like melting it and used in jewelry by Chinese smugglers. This event are of no threat to the current users of bitcoin, it may possibly signal an intense increase in the value. Whatever the case the market will just adopt to the situation, but in the future if bitcoin reaches 100 million dollars each then bitcoin being burned is a very big problem that needs a solution.

[400actforsale]

In fact 2100 of them are burnt for Counterparty... However some of them (like bitcoins sent to address with lowest hash160 value) maybe just used for fun. These would be donations to everyone as if there is less BTC in existence, the price will go up as there's less supply...

[chesatochi]

Last October a website called BTCBurns.cf identified 397 burn addresses containing 2,657.8686 BTC lost forever. It has gone offline. Since it stopped keeping track 26.04 additional bitcoins have been sent to these addresses.

The total number of unspendable bitcoins is now 2,771.4086.

http://bitcoinwhoswho.com/blog/2016/12/21/btc-burn-addresses/

That represent a very large number of bitcoins that I don't have in my possession. I don't know about burned address, but if someone buys bitcoins and store them in a cold storage and never touch for a couple of years.

Will the address be flagged a burned address?

[davis196]

Last October a website called BTCBurns.cf identified 397 burn addresses containing 2,657.8686 BTC lost forever. It has gone offline. Since it stopped keeping track 26.04 additional bitcoins have been sent to these addresses.

The total number of unspendable bitcoins is now 2,771.4086.

http://bitcoinwhoswho.com/blog/2016/12/21/btc-burn-addresses/

What is a burn adress?I`ve never heard about this.

How is it possible people to continue to send bitcoins to those adresses?

[john2231]

It is very normal for bitcoins to be burned or lost in circulation. Even fiat currency like local coins that are always gone in circulation due to many reasons like melting it and used in jewelry by Chinese smugglers. This event are of no threat to the current users of bitcoin, it may possibly signal an intense increase in the value. Whatever the case the market will just adopt to the situation, but in the future if bitcoin reaches 100 million dollars each then bitcoin being burned is a very big problem that needs a solution.

I think they are not actually burned or gone .. they are just lose because of wrong sending bitcoin and forgot their own wallet password.. this is i think the problem that is why those bitcoin are gone that honestly in bitcoin i think we can not say that those are burned coin.. i think it is just a lost coins..

[BrewMaster]

The total number of unspendable bitcoins is now 2,771.4086.

http://bitcoinwhoswho.com/blog/2016/12/21/btc-burn-addresses/

I think number of unspendable bitcoin is more than this because there are also lots of addresses which contain bitcoins and nobody have access to it, like addresses of wallets whose password were lost, known addresses of satoshi etc. However nice listing...

That's true, but there is no way to confirm that they are really lost, or that the people in question really haven't access to their coins anymore. That's why it's better to wait and not include them into compiled "lost coins" lists. I from time to time spend some hours on analyzing very old wallet addresses containing plenty of coins. In some cases you will see that after 5 or 6 years the person behind one of these addresses starts moving his coins. That's why I never take for granted that they lost access to their wallets.

he is talking about a different kind of lost coins not coins that are not moved. there are in fact lots of bitcoins lost because of reasons such as forgetting an encryption password to a wallet or a lost wallet because of hardware failure, and generally things like that beyond recover.
there is actually a topic in this board about it where people comment on it with their lost coins. i myself had a brainwallet with 0.01BTCish which i forgot the password to

[Velkro]

Last October a website called BTCBurns.cf identified 397 burn addresses containing 2,657.8686 BTC lost forever. It has gone offline. Since it stopped keeping track 26.04 additional bitcoins have been sent to these addresses.

The total number of unspendable bitcoins is now 2,771.4086.

http://bitcoinwhoswho.com/blog/2016/12/21/btc-burn-addresses/

Its like talking about all crimes in USA beign counted as 550 while counting only in one state of 52 states of USA. In reality there is 45000 crimes total.
Same here, they counted below 3000 btc burned, in reality it could be over 1 000 000 BTC burned forever.
So not worth counting this way.

[arwin100]

I think it is not burned, i think it was lost by users stupidity. But also how come people can send btc to a specified burn address. When in fact that address is already burned, the address is still active but not accessible? I'm a bit confused on what is really burned addresses. BTCBurn website got some concrete evidence that the address is really burned?

[nara1892]

The total number of unspendable bitcoins is now 2,771.4086.

http://bitcoinwhoswho.com/blog/2016/12/21/btc-burn-addresses/

I think number of unspendable bitcoin is more than this because there are also lots of addresses which contain bitcoins and nobody have access to it, like addresses of wallets whose password were lost, known addresses of satoshi etc. However nice listing...

That's true, but there is no way to confirm that they are really lost, or that the people in question really haven't access to their coins anymore. That's why it's better to wait and not include them into compiled "lost coins" lists. I from time to time spend some hours on analyzing very old wallet addresses containing plenty of coins. In some cases you will see that after 5 or 6 years the person behind one of these addresses starts moving his coins. That's why I never take for granted that they lost access to their wallets.

that is a good research. if so, then probably the owners of the addresses hold their bitcoin until some period of time. and then they will move the coins, probably they sell it. so in this case, we just need to wait for 5-6 years to know that the coins in the wallet are really lost or not yet.

[400actforsale]

I think it is not burned, i think it was lost by users stupidity. But also how come people can send btc to a specified burn address. When in fact that address is already burned, the address is still active but not accessible? I'm a bit confused on what is really burned addresses. BTCBurn website got some concrete evidence that the address is really burned?

They're really burnt, as generating a private key to any of those addresses will take up more time than it is from the beginning of universe, and spend more energy than the solar system (maybe even the galaxy?).

I have just read the article again and found there're misleading information. They said the block mined right after halving can't be spent, but output from block 210000 have spent here.

P.S. Why are there 13 BTC as fees in that block

[anonbit992]

The total number of unspendable bitcoins is now 2,771.4086.

http://bitcoinwhoswho.com/blog/2016/12/21/btc-burn-addresses/

I think number of unspendable bitcoin is more than this because there are also lots of addresses which contain bitcoins and nobody have access to it, like addresses of wallets whose password were lost, known addresses of satoshi etc. However nice listing...

That's true, but there is no way to confirm that they are really lost, or that the people in question really haven't access to their coins anymore. That's why it's better to wait and not include them into compiled "lost coins" lists. I from time to time spend some hours on analyzing very old wallet addresses containing plenty of coins. In some cases you will see that after 5 or 6 years the person behind one of these addresses starts moving his coins. That's why I never take for granted that they lost access to their wallets.

Yes, it is too early to call an in active bitcoin address as lost because the holder of the private key for that address may be waiting for more time for the bitcoin to appreciate and then cash in some day when they are worth a fortune. Or may be they have forgot about it. Who knows! it will stay as a mystery.

[error08]

Last October a website called BTCBurns.cf identified 397 burn addresses containing 2,657.8686 BTC lost forever. It has gone offline. Since it stopped keeping track 26.04 additional bitcoins have been sent to these addresses.

The total number of unspendable bitcoins is now 2,771.4086.

http://bitcoinwhoswho.com/blog/2016/12/21/btc-burn-addresses/

I just found out about it, how many bitcoins of those users had been burned and how many they have right now if throw away so easy for them, that can't be come from one guy. Make some people jealous to see that waste of money, but as it stated from the beginning
"Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone
I think that's why we get recently pump to the price, worth slightly more.

[bryant.coleman]

This is nothing when compared to those coins lost by James Howells in 2009. A few days after the Bitcoin mining kicked off, Howells tried the same with his personal computer, and was able to mine some BTC7,500. But back then, BTC was worth close to nothing. When his computer got damaged, he threw away the hard drive.

https://www.theguardian.com/technology/2013/nov/27/hard-drive-bitcoin-landfill-site