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Author Topic: Approximately, how many bitcoin are lost FOREVER!!!  (Read 1348 times)
Artofficial (OP)
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June 05, 2013, 09:38:42 PM
 #1

Unless a Jedi can brute-force or guess the keys Grin.
WuLabsWuTecH
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June 05, 2013, 09:43:12 PM
 #2

no one knows. You can figure out how many BTC are lying dormant, but you have no idea if their owners still control their keys or not!
Kaepora
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June 05, 2013, 09:50:29 PM
 #3

Unless a Jedi can brute-force or guess the keys Grin.

When bitcoin first started I had quite a few and felt they were going nowhere so I deleted the wallet and everything along with it.  Cry
vinne81
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June 05, 2013, 09:52:15 PM
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Unless a Jedi can brute-force or guess the keys Grin.

When bitcoin first started I had quite a few and felt they were going nowhere so I deleted the wallet and everything along with it.  Cry

How many BTC in that wallet?  Smiley
utarinues
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June 05, 2013, 09:59:24 PM
 #5

My guess: I assume most users dont have backups so probably at least 1% already lost or 100.000 BTC
CKJ411
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June 06, 2013, 12:17:42 AM
 #6

What would be the best place to determine where the dormant coins are lying about?
worldinacoin
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June 06, 2013, 12:20:32 AM
 #7

For me alone I guess 10 - 20 BTC, in the early days when Bitcoin wasn't worth much.  Too troublesome to backup when changing computers, just delete Sad
BurtW
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June 06, 2013, 12:24:53 AM
 #8

Why do you ask?

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
edd
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June 06, 2013, 02:06:09 PM
 #9

Unless a Jedi can brute-force or guess the keys Grin.

There are other options.

Deleted wallets on old computers might one day be salvaged by "bitcoin treasure hunters." Heirs might eventually have the tools to extrapolate enough information from an old hard drive to recover a deleted wallet.dat.

Bitcoins sent to black hole addresses are probably gone for good, however.

Still around.
notung
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June 06, 2013, 02:14:32 PM
 #10

Once I read that due to the fact that some bitcoins are lost they will gain more value, as less coins are available. I don't see how if it's not possible to know how many are lost...
Alexander The Great
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June 06, 2013, 02:24:44 PM
 #11

Id say a good million are lost forever.
r3wt
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June 06, 2013, 02:26:56 PM
 #12

i believe that something must be done immediately to deny addresses that havent been seen on the network payments over a very small amount. i think some groups are probably buying bitcoin and sending them to nonexistant addresses to devalue and kill the coin.

My negative trust rating is reflective of a personal vendetta by someone on default trust.
artos
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June 06, 2013, 02:27:59 PM
 #13

i believe that something must be done immediately to deny addresses that havent been seen on the network payments over a very small amount. i think some groups are probably buying bitcoin and sending them to nonexistant addresses to devalue and kill the coin.
Divisible down to 8 decimal places. They can destroy all they want, it won't accomplish anything.

StableCoin Development Fund: shQpTvLDsgCURkfqyBuCjL79aqYwti2FEJ
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Alexander The Great
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June 06, 2013, 02:45:49 PM
 #14

Prices are going to go up for every bitcoin lost.
Alexander The Great
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June 06, 2013, 02:55:03 PM
 #15

ive hears stories about people losing thousands in the early days so I bet theres quite a fair amount gone forever.
darkryoushii
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June 06, 2013, 02:57:13 PM
 #16

i believe that something must be done immediately to deny addresses that havent been seen on the network payments over a very small amount. i think some groups are probably buying bitcoin and sending them to nonexistant addresses to devalue and kill the coin.
Divisible down to 8 decimal places. They can destroy all they want, it won't accomplish anything.

I'm sure a similar thing was said about IPv4..
BurtW
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June 06, 2013, 04:12:20 PM
 #17

You can read about that somewhere in this paper: http://eprint.iacr.org/2012/584.pdf
If i remember correctly i think about 2 million BTCs is lost for ever.
A ton are lost forever..

So that means that each Bitcoin must weigh (2,000 pounds lost) / (2,000,000 BTC lost) = 0.001 pounds / BTC

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
freq
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June 07, 2013, 12:51:48 AM
 #18

There should be a recovery system in place that they go to
STT
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June 07, 2013, 12:59:14 AM
 #19

A recovery system might be a way to recover what is not yours.  Every exception they add to the rules makes for easier corruption.

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Alexander The Great
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June 07, 2013, 01:03:33 AM
 #20

Is say 500,000 - 1 million
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