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Author Topic: Forever(?) lost coins  (Read 14492 times)
ladydark
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June 17, 2018, 03:25:52 PM
 #41

Coins once lost is lost forever.It would remain just idle for years.There is no other way to recover it except retrieving the private keys.Already coins worth millions of dollars have been lost in this way.

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June 17, 2018, 06:08:37 PM
 #42

At the moment they can't be returned. I read a couple of months ago about the company that is developing a product that will allow the lost bitcoins to be returned. If someone finds the name of the company - write here.

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June 17, 2018, 11:11:03 PM
 #43

Lost coin is forever lost you can't be recover again so you must be responsible in keeping your private keys and your passwords so that no one can stole it from you .

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Dmitry.Vastov
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June 27, 2018, 07:13:43 AM
 #44

Hi all,
i'm pretty new to bitcoin but already using it and also experimenting with new ideas/code. Great concept!

Anyway i wonder what happens with lost coins?
Like when some people with many coins lose their wallet file.
Are they lost forever, and worst for the whole system? Since the generation of the coins are limited as i have read, are those lost coins regenerated at some point too?

So when many people lose their files, maybe through a terrible bug.. well go figure.

Can somebody please explain what would happen and if there are already methods to prevent or something(except backing up, but it's not always possible, e.g. a bad government takes your computer..).
Ok, in RL life, when you lose money it's also forever lost(when noone finds it). But since in BC it's a limited generation of new coins it looks different i think, or am i missing something?
Maybe one solution would be that the network will also forget about those coins when the original node/node with that wallet/ID haven't connected for a very very long time(maybe ~40, ~100 years? on the other hand it might be bad for descent to your child who will knew about your "wallet file" very late etc.) and let's the network regenerate those coins.

Well, i'm not really sure how this is working yet, but just thought about this. Maybe someone can explain/think about this who has more knowledge of bitcoin/it's economics. Smiley

Thank you.

I don’t think that bitcoin will ever be lost or will ever be faded away because I strongly believe that bitcoin is very sustainable crypto currency and it will going to last for further many decades. And if we look at the past of bitcoin since year 2008 , bitcoin has made a great success, from the valuation of 10₹ to current valuation of ₹ 400000 , the success simply indicated by these increased valuation and I believe that this will further success more and will surely end up to be currency of the world.

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genixye
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June 27, 2018, 07:29:04 AM
 #45

Those lost COINS, like lost money, will disappear forever and will not be found by anyone.

By some estimates, nearly four million bitcoin have disappeared forever. So we must keep our wallets.
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June 27, 2018, 12:47:36 PM
 #46

At the moment they can't be returned. I read a couple of months ago about the company that is developing a product that will allow the lost bitcoins to be returned. If someone finds the name of the company - write here.

Or maybe you go try to find it since you are the one who brought it up? You're the one with the most chances of finding it since you've already found it once. Maybe it's still in your browser history?

I do doubt that such "company" is able to recover lost bitcoins because to be able to gain access to the wallet again, you're going to need the private key of it. If you such company can give you back the private key of your address by simply pinpointing which address have you had before, then I will be extremely terrified. That means that they are able to get the private key of any address so they are pretty much going to be like Gods in the bitcoin world. They are just going to search the top wallets that have the most coins and get the private key of those addresses. Good thing bitcoin was made so noone will have the computing power and storage to be able to do that. So nope, that company is a fraud and what they are claiming is impossible.

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