Bitcoin loss?

[malikusama]

- sending to unsupported address

I haven't seen such case that anyone have send his/her funds to wrong address, people using cryptcurrencies are not that dumb that they will send their funds to any unsupported addresses, it will be a rare case if anyone do this.

- loosing private keys

Almost everyone have a backup of their wallets, it is not a big problem at all today.

- people dying with private keys, etc.
Which will keep on decreasing the total available supply of the coin. making it more scarce.
Won't that bring a problem the the economics, no coins left to trade situations?

Yes this could be the problem but not a major one, we can tackle with this easily by giving authority to our family members by mentioning it in our will.

[maku]

One thing always came on my mind when I entered the world of Bitcoin.
Fiat are issued with registered numbers and recycles in the name of new currency, making the old obsolete.
i.e. They never get destroyed even if the physical notes gets burned and decayed.

But bitcoin are totally different, they can be lost
- sending to unsupported address
- loosing private keys
- people dying with private keys, etc.
Which will keep on decreasing the total available supply of the coin. making it more scarce.
Won't that bring a problem the the economics, no coins left to trade situations?

Oh sweet summer child, this topic was belaboured to the death before many times. So to sum it all up - this is not a problem at all.
It would be only when we would have 21 millions of Bitcoin and every single one of BTC couldn't be divided into smaller units.
In a situation when 1 BTC is divisible down to 8 decimal places and all calculations are performed in satoshis (1 satoshi = 0.00000001 BTC) we have nothing to worry about.
Bitcoin loss over time is nothing to worry about.

[wareen]

I do not think that we will be able to lose access to our coins even if we forget the password for the wallet. Now there are very good hackers who can crack the password and get coins.

Crack the password of a desktop wallet? No one can does that, if a hacker can crack as your said, why does he not crack Bitcoin wallet of the large cryptocurrency exchange as Poloniex, Bittrex? Every update version wallet is updated and fixed all bugs.

[Coffee135]

- sending to unsupported address

I haven't seen such case that anyone have send his/her funds to wrong address, people using cryptcurrencies are not that dumb that they will send their funds to any unsupported addresses, it will be a rare case if anyone do this.

- loosing private keys

Almost everyone have a backup of their wallets, it is not a big problem at all today.

- people dying with private keys, etc.
Which will keep on decreasing the total available supply of the coin. making it more scarce.
Won't that bring a problem the the economics, no coins left to trade situations?

Yes this could be the problem but not a major one, we can tackle with this easily by giving authority to our family members by mentioning it in our will.

Not everyone dies when it is planned. Definitely will be losing coins. But this does not affect the turnover of bitcoins. The decrease in the number of coins will only lead to imitation. There may be a few million years will be decided on the issuance of commemorative coins but we will not see. In our age of bitcoin enough.

[carlerha]

- sending to unsupported address

I haven't seen such case that anyone have send his/her funds to wrong address, people using cryptcurrencies are not that dumb that they will send their funds to any unsupported addresses, it will be a rare case if anyone do this.

- loosing private keys

Almost everyone have a backup of their wallets, it is not a big problem at all today.

- people dying with private keys, etc.
Which will keep on decreasing the total available supply of the coin. making it more scarce.
Won't that bring a problem the the economics, no coins left to trade situations?

Yes this could be the problem but not a major one, we can tackle with this easily by giving authority to our family members by mentioning it in our will.

Not everyone dies when it is planned. Definitely will be losing coins. But this does not affect the turnover of bitcoins. The decrease in the number of coins will only lead to imitation. There may be a few million years will be decided on the issuance of commemorative coins but we will not see. In our age of bitcoin enough.

in fact bitcoin is an investment and trading, therefore there are always chances of losing money, Although there are very little chances of losing money by investing in bitcoin but still the possibilities is still there. Therefore it is too much important to be more careful while playing and trading bitcoin or any other altcoin.

[kier010]

One thing always came on my mind when I entered the world of Bitcoin.
Fiat are issued with registered numbers and recycles in the name of new currency, making the old obsolete.
i.e. They never get destroyed even if the physical notes gets burned and decayed.

But bitcoin are totally different, they can be lost
- sending to unsupported address
- loosing private keys
- people dying with private keys, etc.
Which will keep on decreasing the total available supply of the coin. making it more scarce.
Won't that bring a problem the the economics, no coins left to trade situations?

- there always a room for error but this could only happen if not double check or being always competent to self. there is only a small case that this happens as what i read in this forum.

- private keys are important, people know that so they always make extra a copy of it.

- there may be case bitcoin holder dies and did not share the key but it is still good for the rest. if bitcoin is in low supply its demand increase and the price increase.

[loreykyutt05]

One thing always came on my mind when I entered the world of Bitcoin.
Fiat are issued with registered numbers and recycles in the name of new currency, making the old obsolete.
i.e. They never get destroyed even if the physical notes gets burned and decayed.

But bitcoin are totally different, they can be lost
- sending to unsupported address
- loosing private keys
- people dying with private keys, etc.
Which will keep on decreasing the total available supply of the coin. making it more scarce.
Won't that bring a problem the the economics, no coins left to trade situations?

no it will not bring problem when it comes to the economy, many users here are somehow already lost their bitcoins and also it was impossible to lose all those 21 million bitcoin especially they can even be divided for now up to  8 decimal places , bitcoin will not be dissolve just because of the irresponsibility of others.

[Przemax]

BItcoin loss is one of the reason why bitcoin is so high. The artificial scarcity is the result of the loss of a whole bunch of satoshis in the depth of the webspace.

If you think about it, such a behaviour is a little scavenge like. It is not much honorable behaviour. But a people including me see that it as ok as bitcoin is just a social experiment. So it is kind of interesting how everything is coming out in the bitcoin world.

[Thyaga]

Bitcoin can disappear if all those who have bitcoin die and not tell their closest relatives about the password of the wallet he has.

[eaLiTy]

Which will keep on decreasing the total available supply of the coin. making it more scarce.
Won't that bring a problem the the economics, no coins left to trade situations?

There is no transparency in printing the notes,they can print as long as they want and that is not the case with bitcoin,with the limited amount of coins and considering that more coins are being lost on a daily basis and there is nothing that can be done for that lost coins ,the total availability of coins will be scarce and it indeed will reflect in the price when there is more demand.

[rhyajelle]

it was very discouraging, and angry

[rockie2000]

One thing always came on my mind when I entered the world of Bitcoin.
Fiat are issued with registered numbers and recycles in the name of new currency, making the old obsolete.
i.e. They never get destroyed even if the physical notes gets burned and decayed.

But bitcoin are totally different, they can be lost
- sending to unsupported address
- loosing private keys
- people dying with private keys, etc.
Which will keep on decreasing the total available supply of the coin. making it more scarce.
Won't that bring a problem the the economics, no coins left to trade situations?

Indeed you are right that some bitcoin may be loss but those are very small amount compared to the whole 21 million BTC to be generated.
And as someone already mentioned, if some coin is loss, the value of the rest will increase because of scarcity, simply it is 

[AntSharing]

yeah I once lost 0.3 bch by sending to the wrong address

[Lancusters]

Bitcoin can disappear if all those who have bitcoin die and not tell their closest relatives about the password of the wallet he has.

I am not afraid. This will only increase the demand and price will rise. It seems to me that this issue is not relevant. Have bitcoins there are more important issues that can lead to the fact that we can not wait the moment when coin is not to be missed for everyone.

[Sled]

We don't need to worry for those losses like those scenarios that you said. It is just up to the person who is handling bitcoin on how is he going to make it safe to hold or keep in order to have a good journey for his bitcoins. That is why it is important also to inform the users of bitcoin for those possible scenarios so they can prepare for those situations and avoid it as quickly as possible.

[BillyBobZorton]

One thing always came on my mind when I entered the world of Bitcoin.
Fiat are issued with registered numbers and recycles in the name of new currency, making the old obsolete.
i.e. They never get destroyed even if the physical notes gets burned and decayed.

But bitcoin are totally different, they can be lost
- sending to unsupported address
- loosing private keys
- people dying with private keys, etc.
Which will keep on decreasing the total available supply of the coin. making it more scarce.
Won't that bring a problem the the economics, no coins left to trade situations?

I've never seen this classic argument usually coming from keynesians that say we will go under a deflationary spiral. Well, last time I checked, we have been throught several inflationary spirals, never deflationary. We will find out with BTC since this is the first proper experiment ever of an attempt of a delfationary currency.

I think there's no problem. Less supply = hodlers get richer = if needed we add more digits, but 8 should be enough.

[Fatunad]

One thing always came on my mind when I entered the world of Bitcoin.
Fiat are issued with registered numbers and recycles in the name of new currency, making the old obsolete.
i.e. They never get destroyed even if the physical notes gets burned and decayed.

But bitcoin are totally different, they can be lost
- sending to unsupported address
- loosing private keys
- people dying with private keys, etc.
Which will keep on decreasing the total available supply of the coin. making it more scarce.
Won't that bring a problem the the economics, no coins left to trade situations?

It would really be a problem since bitcoin would really be scarce but talking the real thing that people are not dumb enough on carelessly on their privatekeys and losing their precious bitcoins.There are really instances to lose up those coins but i would say it would really be on small ratio so theres nothing to worried off as long as a bitcoin user we should really know how to keep important things knowing bitcoin is still considered as money.

[jc89]

One thing always came on my mind when I entered the world of Bitcoin.
Fiat are issued with registered numbers and recycles in the name of new currency, making the old obsolete.
i.e. They never get destroyed even if the physical notes gets burned and decayed.

But bitcoin are totally different, they can be lost
- sending to unsupported address
- loosing private keys
- people dying with private keys, etc.
Which will keep on decreasing the total available supply of the coin. making it more scarce.
Won't that bring a problem the the economics, no coins left to trade situations?

Sending btc to unsupported or invalid address due to typo is very unlikely because your wallet will detect an error so there will be no transaction created. And nowadays people are very careful not to lose their private keys. If you have thousands of dollars worth of btc in your wallets I don't think you're not gonna make multiple backups for your keys. You're stupid if you didn't.

"People dying with private keys." This statement is quite confusing but I assume you're saying that people who have btc wallets, with btc in it, unfortunately dies and no one even in his family knows his private keys. I think this situation is possible to happen but I don't think it's big of an issue. And that in my opinion it won't be a problem.

[Superways]

Bitcoin can disappear if all those who have bitcoin die and not tell their closest relatives about the password of the wallet he has.

I am not afraid. This will only increase the demand and price will rise. It seems to me that this issue is not relevant. Have bitcoins there are more important issues that can lead to the fact that we can not wait the moment when coin is not to be missed for everyone.

There is a mechanism one can retrieve his lost bitcoin through some proper channels and this is really happening a friend of mine has lost his bitcoin but are recovered soon he complained and all of sudden everything become fine on lighter note of death of some investor that is his fault he must have some trust worthy person who can use them after him.

[MyIdeas]

If the bitcoins were lost and the circulating supply were scarce, then the law of supply and demand follows. The value of bitcoin of bitcoin depends on supply and demand, the lesser the supply (scarce), the higher the price. The bitcoin's rule is that the maximum mined bitcoin with a total of 21 million coin is fixed and in any circumstances that supply can not be change. There have been no actual inventory of bitcoin determining the actual quantity that actively circulated of the whole trading platform worldwide. Its market capitalization only tells the total mined bitcoin but the lost or inactive coin had not been accounted.

Yes price is totally depending on the demand and production as the demand increases and production get started the coin values starts to rise and as there are more vacant coin in here the price will automatically go down and going down is not loss it is chance to add some no into the wallet and after all this bitcoin gives pump to the prices as new people entered and that’s the working.