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Author Topic: What happens to abandoned coins?  (Read 668 times)
mattboston
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June 28, 2011, 12:25:22 PM
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If someone has a wallet with bitcoins in it, doesn't really matter if they got them through buying or mining.  What happens if they just decide to give up on or forget about bitcoin?  Technically the coins are still out there but if that wallet is never used then those coins can't be claimed by anyone.   I guess the same issue also happens if you lose your wallet
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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foo
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June 28, 2011, 12:29:02 PM
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They are lost. Same as if you burn a dollar bill.

I know this because Tyler knows this.
bitcointraderuk
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June 28, 2011, 12:34:01 PM
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Gone forever!!!
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June 28, 2011, 12:48:42 PM
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Deflation. Prices will go down. Bitcoin will value more.
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June 28, 2011, 01:19:52 PM
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Lost
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June 28, 2011, 01:21:28 PM
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So remember to backup your wallet!
https://en.bitcoin.it/wiki/Securing_your_wallet
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