What happens when bitcoins are lost?

[jech1028]

When a user loses his wallet, it has the effect of removing money out of circulation. Lost bitcoins still remain in the block chain just like any other bitcoins. However, lost bitcoins remain dormant forever because there is no way for anybody to find the private key(s) that would allow them to be spent again. Because of the law of supply and demand, when fewer bitcoins are available, the ones that are left will be in higher demand and increase in value to compensate.

[mk4]

True. The bitcoins will basically be frozen forever unless someone lands on the exact wallet recovery seed that holds those bitcoins(very very VERY unlikely to happen tho, but theoretically prossible). So I'm pretty sure even though the bitcoin hardcap is at around 21million BTC, taking all those lost bitcoin in to equation, the total bitcoin will probably be far less than 21 million. Maybe even 20million; but there's really no way to find out if a certain wallet's bitcoin is lost or if the owner is really just isn't moving them.

[Karakyli]

If access to Bitcoin for some reason is lost, it remains encrypted in the block chainin block chain. Indeed, to resume access to it is almost impossible because of the complex combination of the secret key. However, as it has been repeatedly written on this forum, quantum computers may appear in a few years, which will be able to pick up any key to any encrypted digital code. So this problem can be solved and instead there will be a common problem how to protect your digital passwords from such computers.

[Mazda17]

True. The bitcoins will basically be frozen forever unless someone lands on the exact wallet recovery seed that holds those bitcoins(very very VERY unlikely to happen tho, but theoretically prossible). So I'm pretty sure even though the bitcoin hardcap is at around 21million BTC, taking all those lost bitcoin in to equation, the total bitcoin will probably be far less than 21 million. Maybe even 20million; but there's really no way to find out if a certain wallet's bitcoin is lost or if the owner is really just isn't moving them.

Good thinking and I salute with your thoughts.
There is. Some people who feel the bitcoin disappear because of carelessness of the person register haphazardly and stuck the wallet code carelessly so he did not feel the bitcoin out after being seen in his wallet.

[dawoodkhan97]

Yes, without the private keys to a wallet
bitcoins stored are most probably considered
'lost' and cannot be recovered no matter what.

[mahibul49]

bitcoin will be frozen if you lost.u have to recover by your private key or else you will lost.

[ghonkz]

so many bitcoin lost in history, no way to get that lost bitcoin back. The lost happend from various reason like lost the backup seed, accident like house got burn or damage drive where it store or got stolen etc. anyhow as you said the bitcoin never actualy lost, its juts stay there and no one can take it or move it.

[hahahafr]

Satoshi said that the lost coins were going to be like a contribution to all bitcoin holders, because those funds are going to be freezed forever until anyone gets the private key to that address.

But yes, those funds are being freezed forever and it means that they will still be in there without movement until the end.

That is why a lot of people like bitcoin, because the money of a died person can not be used to dump or pump the price easily.

[SamReomo]

When a user loses his wallet, it has the effect of removing money out of circulation. Lost bitcoins still remain in the block chain just like any other bitcoins. However, lost bitcoins remain dormant forever because there is no way for anybody to find the private key(s) that would allow them to be spent again. Because of the law of supply and demand, when fewer bitcoins are available, the ones that are left will be in higher demand and increase in value to compensate.

Yes, the Bitcoins will remain in the block chain forever and they can't be withdrawn by anyone else than the person who owns the private keys of the wallet where they are stored. Cracking of the Bitcoin wallet private keys is near to impossible in this date, but it might be a concern for the coming time.
Bitcoins are very very safe in those wallets where they are storied, and even the most professional hackers and crackers aren't able to unlock it without having the private keys.
It's also true that when the lower supply of the Bitcoins  can result in its value to increase, but that isn't a guarantee though. And, the coins supply won't be affected for just few of coins stored in a wallet forever.

[Shreek]

bitcoin will be frozen if you lost.u have to recover by your private key or else you will lost.

yes, I agree with you, bitcoin will freeze and never come back again, because in the chain block there are many transactions that are very much, and difficult to solve.

[Shamie1002]

Satoshi said that the lost coins were going to be like a contribution to all bitcoin holders, because those funds are going to be freezed forever until anyone gets the private key to that address.

But yes, those funds are being freezed forever and it means that they will still be in there without movement until the end.

That is why a lot of people like bitcoin, because the money of a died person can not be used to dump or pump the price easily.

Precisely, that is why many are trusting bitcoin instead of other alts. Bitcoin can never have a zero value at any end. It's sad to think that some have lost their coins and I think that it could have been someone's fortune but it's a huge gift for every users.
The fear of bitcoin being a bubble is truly false.

[MyIdeas]

True. The bitcoins will basically be frozen forever unless someone lands on the exact wallet recovery seed that holds those bitcoins(very very VERY unlikely to happen tho, but theoretically prossible). So I'm pretty sure even though the bitcoin hardcap is at around 21million BTC, taking all those lost bitcoin in to equation, the total bitcoin will probably be far less than 21 million. Maybe even 20million; but there's really no way to find out if a certain wallet's bitcoin is lost or if the owner is really just isn't moving them.

If that is the case then it will be not good for the bitcoin as people often lose their wallets and cannot recover their wallets. In some web wallets it is totally hard when a person forget all of the things required for to login to their wallet especially to their blockchain.info wallet. In that way I will say that it is not good for the future of bitcoin. There should be a solution for that.

[hadveach]

it's hard to get back again, and I do not think that's possible, because in the block chain it's freezing and it's hard to find it. if in the block chain there is visible only your transactions may be, but in the block chain there are many transactions so difficult to find it

[khaled0111]

A big number of Bitcoins have been lost due to many reasons such as forgotten passwords, broken hard drives or even the death of the wallet owner.
People didn't care about loosing their Bitcoins in the past and didn't take any measures to keep their private keys safe since the price wasn't worthy.
No one knows how many Bitcoins are lost but for sure it is a big amount and since the total number that can be mined is fixed to 21 million, Bitcoin will be more valuable.
The question is: is there anyway to restore lost wallets?

[Dvach]

The question is: is there anyway to restore lost wallets?

Maybe there is some way to hack a wallet. I heard few cases, when bitcoin wallets were hacked (NiceHash issue, for example). I don't know, how that hack is being done, is the login data stolen or there is some way to hack the wallet. If it is possible to hack wallet, than it is possible to restore it. It will be restored in case if it will be hacked by yourself.